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China's top 20 travel groups collectively rake in record income
12/09/2016|3:05:30 PM|
The collective income of China’s top 20 tourism groups this year is 40% higher than last year. The rapid growth is said to be a result of capital-driven mergers and online-offline consolidations.
Jin Jiang forms WeHotel network, speculated to break OTA stranglehold
12/08/2016|11:52:56 AM|
State-owned Jin Jiang plans to build WeHotel loyalty to tap the vast collective customer bases of all subsidiary brands including Jin Jiang, Louvre Hotels, Plateno and Vienna Hotels.
Xbed raises 50 million yuan in ongoing Pre-A round
12/08/2016|11:39:40 AM|
Accommodation booking startup Xbed is raising RMB 50 million in its on-going Pre-A round that has Gobi Partners and QF Capital as lead investors.
China Eastern Airlines plans to spin off logistics business
12/08/2016|10:58:35 AM|
China Eastern Airlines is planning to transfer its stake in wholly-owned subsidiary China Eastern Airlines Logistics Co., Ltd. to another subsidiary of its parent holding company.
LN Holdings to splash out RMB 3.4 billion in hotel tourism investment
08/26/2016|2:53:03 PM|
LN Holdings planned to splurge RMB 3.437 billion to acquire 90.45% shares of GuangZhiLv, 100% stake in both Garden Hotel and China Hotel.
Meituan-Dianping reportedly mulls hotel unit spin-off for independent financing
08/25/2016|10:49:10 AM|
Meituan-Dianping would have to spin off its hotel business as the company was expected to run out the 3.3 billion dollars raised in its series E round within 1.5 years.
Octopus receives RMB 170 million in B round backed by Tempus Global
08/25/2016|10:46:42 AM|
A Tempus Global-led group planned to inject RMB 170 million into Octopus. Tempus Global will acquire a 4.17% stake in Octopus for RMB 50 million.
House-sharing brand QianSu raises RMB 50 million
12/01/2016|10:52:02 PM|
Homestay startup QianSu announced that it has received RMB 50 million in its latest funding round. ChinaTravelNews learnt that the round had Qunar as one of the investors.
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