As of December 31, 2018, Huazhu operated 4,230 hotels in China with hotel network covered 403 cities in 32 provinces and municipalities across China.
Zhuiyi Technology will use the funding for developing AI technology and products, recruitment, ecosystem building and overseas expansion.
It had signed contracts for direct connection with Airbnb, Ctrip-backed Tujia and Meituan-owned Zhenguo.
The acquisition of this potential competitor not only delivers complementary advantages for OYO, but gives OYO more leverage in its expansion in China.
GreenTree said that "there will be potential collaboration opportunities between the two companies" in the mid-scale to upscale hotel segment.
GIATA will present their Room Type Mapping solution at the 53rd ITB Berlin, Germany from 6th to 10th March 2019.
The majority of Argyle's properties are located in South West China. Argyle's highly distinguished brand portfolio and geographic coverage are highly complementary to GreenTree's business and expansion plans.
Hotel MoMc is optimistic of the budding markets in the second-, third- and fourth-tier cities and aims to integrate local characteristics to create personalized stays.