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China Travel International's net profit plummets 74% in 2016

Tourism conglomerate China Travel International reported revenue of HK$4,070 million in 2016, down by 7%. Profit attributable to shareholders tumbled 74% to HK$350 million.

03/30/2017|6:21:14 PM|ChinaTravelNews

Ctrip survey finds 73% Chinese travelers with budget of 10,000 yuan in 2017

More than half of the polled Chinese travelers plan to spend over 10% of annual income on travel in 2017. Some 73% of them set aside a travel budget of more than RMB 10,000 (USD 1,452), and 60% will opt for outbound tours.

03/30/2017|7:26:47 PM|ChinaTravelNews

Hainan Airlines gains 22.95% in ancillary income

HNA Group’s core carrier Hainan Airlines recorded annual revenue of RMB 40.68 billion in 2016, up by 15.48% YoY. Ancillary income rose 22.95% to RMB 2.64 billion last year.

03/30/2017|11:05:35 AM|ChinaTravelNews

BTG Hotels focuses on upper midscale brands following phased consolidation

BTG Hotels has completed first-phase consolidation of former BTG Hotels Group and Homeinns Group in nine months after their merger and will be focusing on upper midscale brands for the next few years.

03/29/2017|11:28:57 AM|ChinaTravelNews

Theme park group Fantawild posts 711 million yuan net profit in 2016

Theme park operator Fantawild reported that operating revenue from its cultural and technological parks climbed 33.51% to RMB 1.77 billion in 2016, accounting for a dominant 91.03% share of the company’s total income in the year.

03/29/2017|11:14:30 AM|ChinaTravelNews

Hotel conglomerate LN Holdings’ 2016 net profit drops 21.96% to 30.61 million yuan

LN Holdings reported operating revenue of RMB 303 million in 2016, down by 0.99% YoY. Net profit dropped 21.96% to RMB 30.61 million during the time.

03/23/2017|11:05:06 AM|ChinaTravelNews

Tencent continues reign as China’s most valuable brand, Ctrip ranks 38th with $2,260m

Tencent continued its reign as China’s most valuable brand, rising 29% to be the first 100-billion-dollar brand while Ctrip ranked 38th in the Chinese companies with a brand value of USD 2,260 million.

03/21/2017|9:45:31 AM|ChinaTravelNews

Marriott brings new hotel brands to China

Marriott has introduced its independently-branded upscale hotel the Shanhaitian Resort Sanya to China, following an earlier Chinese debut of its Tribute Portfolio collection last month.

03/21/2017|4:17:34 PM|Traveldailymedia
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