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Tongcheng Tourism plans demerger and separate IPOs

Tongcheng plans to split its business into two separate entities: a travel agency selling leisure tours and attractions and a network grouping the company’s profitable standardized products in air, accommodation and railway.

06/20/2016|10:20:43 AM|ChinaTravelNews

Ctrip bullish over consolidated operating results with Qunar

Ctrip started to consolidate Qunar’s financial statements from the accounting perspective. The companies are hopeful of posting non-GAAP operating profit soon.

06/20/2016|10:15:11 AM|ChinaTravelNews

Tripb2b receives tens of millions of yuan in series A round

B2B travel platform Tripb2b announced on June 15 that the company has received tens of millions of yuan in its A-round funding. The funding that is purely financial investment was led by Yiyin Fund and followed by J-High Investment.

06/17/2016|9:43:19 AM|ChinaTravelNews

China Eastern announces segment-based agent fee policy for domestic flights

China Eastern Airlines formally released a new agent fee structure for domestic flights paying agent fees by segment and class, effective July 1, 2016.

06/17/2016|11:11:38 AM|ChinaTravelNews

China’s star-rated hotels post RMB 49.665 billion revenues in Q1 2016

China’s star-rated hotels generated total revenues of RMB 49.665 billion in Q1 2016 and average occupancy rate was 48.94%, down by 0.17%.

06/16/2016|10:22:59 AM|ChinaTravelNews

China Lodging announces new president and plans to tap sharing accommodation

China Lodging Group announced on June 13 that the company has promoted Hui Jin as president. Mr. Jin continues to participate in the company’s major decision-making and reports to CEO Jenny Zhang.

06/16/2016|3:39:26 PM|ChinaTravelNews

Directions raises millions of yuan in series Pre-A round

Outbound travel service platform Directions announced that it has closed its Pre-A round with millions of yuan from ONES Ventures. The money will be invested in product R&D and marketing.

06/16/2016|3:34:57 PM|ChinaTravelNews

China Eastern resumes flagship store on Qunar following Air China’s lead

China Eastern Airlines reopened its flagship store on Qunar on June 14, just one day after a similar move by Air China. The booking aggregator’s current listings also include China Eastern’s code-share flights operated by China Southern Airlines.

06/16/2016|3:29:32 PM|ChinaTravelNews
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