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China’s star-rated hotels net RMB 471 million profit in 2016
10/23/2017|10:46:33 AM|
The star-rated hotels in China netted operating incomes of RMB 202. 726 billion and total profits of RMB 471 million last year. Room and catering accounted for 44.79% and 41.30% of the total revenues.
China’s outbound tourism slowing in growth but diversifying
10/18/2017|11:52:03 AM|
The growth of outbound tourism traffic from China and their spending were slowing in 2016, while tourism traffic to “Belt and Road” countries increased significantly to around 50 million during the year.
Chinese real estate company buys luxury travel firm A&K for $412 million
10/17/2017|10:50:07 AM|
Neo Dynasty, an overseas subsidiary of Chinese real estate and investment company Zhonghong Group, has closed the acquisition of 90.5% stake in luxury travel firm Abercrombie & Kent for $412 million.
Ningbo Airlines officially registered with RMB one billion
04/05/2016|10:12:07 PM|
Ningbo Airlines was inaugurated on March 25 with a registered capital of RMB one billion
Ctrip Gourmet List joins forces with Alibaba's Koubei in catering services
09/28/2017|4:59:51 PM|
Ctrip Gourmet List will work with a myriad of domestic restaurants of Alibaba-backed Koubei to create a platform for integrating complementary food and destination activities.
Shanghai Free Trade Zone to establish wholly foreign-owned travel agencies
09/27/2017|8:42:43 AM|
China (Shanghai) Pilot Free Trade Zone was officially approved to let foreign-owned travel agencies carry out pilot outbound travel business.
China's travel club Yuelvhui completes an angel round
09/21/2017|10:37:14 AM|
The business mode of Yuelvhui is to “expand lifestyle and travel IP on top of meeting basic travel demands”.
China’s airlines handle 363 million passengers in January-August, up 12.6%
09/19/2017|7:07:04 PM|
In January-August, the passenger volume of domestic air routes rose 13.5% to 326 million and the number of passengers carried by international air routes by 5.0% to 36.922 million, according to CAAC.
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