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CITS nets 20% more profit in 2016
05/05/2017|1:51:32 PM|
CITS Group posted operating revenue of RMB 22.39 billion in 2016, up by 5.16%. Net profit last year climbed 20.07%. Operating revenue grew 10.54% in the first quarter of 2017 while net profit for the period rose 5.83%.
Travel conglomerate OCT to divest interests in two firms for 2.3 billion yuan
04/13/2017|10:15:10 AM|
Theme park and tourism firm OCT Co. plans to divest its stakes of 100% in Taizhou OCT and 60% in OCT Vision. The two deals will be worth RMB 2.3 billion.
Tempus Global’s net profit increased 22.52% in 2016
04/28/2017|1:42:34 PM|
Travel and finance group Tempus Global’s operating revenue grew 37.93% to RMB 1.28 billion in 2016. Net profit rose 22.52% YoY to RMB 178 million in the time.
Ctrip reintroduces tailored travel platform with 4,000 tour specialists
04/28/2017|12:40:49 PM|
Ctrip has upgraded its tailored travel platform to “Version 2.0”. The platform has more than 1,200 partner suppliers recommending around 4,000 itinerary designers to cover 956 destinations in 107 countries worldwide.
China's star-rated hotels post 54.4 billion yuan revenue in Q4 2016
04/20/2017|1:48:11 PM|
Star-rated hotels in China registered an aggregate of RMB 54.43 billion operating revenues in the fourth quarter of 2016. Guestroom revenue was RMB 24.49 billion and average occupancy was 56.6% in the quarter.
Tailored travel SaaS platform Lushu closes A round
04/17/2017|6:35:56 PM|
Travel customization SaaS platform Lushu told ChinaTravelNews on April 17 that the company has closed its A round funding backed by Keywise Capital, an investor of Chinese photo App maker Meitu.
Outbound agency Phoenix Travel invests in Australian tour operator
04/11/2017|1:33:25 PM|
Chinese outbound travel agency Phoenix Travel announced that it has made a strategic investment in Grandcity Travel, an Australia-registered firm with local bus fleets and Chinese-speaking tour guides.
Outbound travel from China to Europe expected to rise 10% in 2017
04/12/2017|1:55:15 PM|
Europe received 5.13 million visitor arrivals from China in 2016, up by 6.3% YoY. The arrivals number is expected to grow 10% to 5.5 million this year.
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