Qunar announced that it has entered into a definitive agreement with Ocean Management. The agreement valued the company at around USD 4.44 billion.
Hotel companies Homeinns and Jin Jiang remodeled some of their existing economy hotels to midscale hotels to overcome problems in finding properties and increase RevPAR.
Operating revenue rose 541.76% to RMB 2.176 billion and net income climbed 467.06% to RMB 143 million, according to the company’s third-quarter preliminary results.
Hotel data specialist Joint Wisdom and PMS provider Shiji Information will cooperate on system services such as direct connect, PMS and revenue management.
Bicycle rental startup Mobike announced on October 13 that it has completed another round of financing which had Chinese social network giant Tencent as one of the investors.
Auto dealer’s car-hailing platform Dingding raised RMB 5 billion in a strategic tie-up with Everbright Bank’s financial leasing unit to enter the chauffeur market in China.
China is projected to become the world’s most important cruise market with 10 million cruise passengers in 2030 in the “2016 China Cruise Industry Development Report”.
More than 1,000 partner enterprises have signed up for the corporate travel service powered by Alibaba’s instant message unit DingTalk.
