Honeymoon accommodation and hostel brand ShiLiLi announced on Tuesday that the company would receive RMB 30 million from a consortium led by Mr. Chi Li, one of the three successful investors known as “The Warren Buffets of China”.
Mid-range holiday accommodation is relatively untapped in China, and more and more Chinese young travelers are now taking hostels as a preferred lodging option, presenting promising consumer potential. The company’s CEO Xinming Xu said that the funding will be invested in property expansion and improvement of user experience. (Translated by Jerry)
