Ctrip has made a strategic investment in boutique hotel and alternative accommodation brand Lagom, according to Lagom’s announcement. The online travel giant also invested in boutique chain Jiuqi last September.
Qunar announced to delist its ADSs on NASDAQ and become a wholly owned subsidiary of Ocean Management.
Tuniu reported a 66.0% rise in total travel GMV to RMB20.0 billion (USD 2.9 billion) in 2016, according to its unaudited financial results for the fourth quarter and full year of 2016.
Ctrip posted GMV of RMB 430 billion (USD 62.5 billion) in 2016 and the company wants to grow Skyscanner's contribution to Ctrip's international business from 10%-20% currently to one-third or even more in the future.
Ctrip reported net revenues of USD 2.8 billion in full year 2016, representing a 76% increase YoY. Accommodation reservation revenues rose 58% to USD 1.1 billion, accounting for 37% of the total revenues.
Meituan-Dianping kick-started an industrial fund, targeting to invest RMB 3 billion in the consumer sector. The funding sources include Meituan-Dianping, Tencent and New Hope Group.
MaiTao, an online service focusing on children learning and traveling experience, has raised RMB 70 million in its B round funding which had Fosun as the lead investor.
House-sharing platform Locals announced that it has raised RMB 50 million in its Pre-A round in which ZhenFund was the lead investor.
