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Ctrip’s partner UTour plans full acquisition of HuaYuan

Ctrip’s partner Beijing Utour International Travel Service Co Ltd (UTour) plans to buy out Huayuan International Travel (HuaYuan) for RMB 2.6 billion. The funds for the purchase will be raised by issuing 65.61 million shares at RMB 35.82 per share plus RMB 250 million in cash.

03/03/2016|6:18:43 PM|ChinaTravelNews

MuNiao Short-term Rental raises tens of millions RMB in B-round funding

MuNiao Short-term Rental (Mu Niao Duan Zu) announces that it has raised tens of millions of RMB in the B-round funding, just six months after its A-round funding, through which the company raised RMB 60 million.

03/01/2016|11:22:42 PM|ChinaTravelNews

OneHome completes Pre-A round funding with tens of millions

Chinese homestay startup OneHome has just completed a Pre-A round funding and raised several million RMB from Alibaba’s Riverhill Fund, Morningside Ventures and an unnamed web celebrity.

03/01/2016|10:55:02 AM|ChinaTravelNews

UTour revenue skyrockets by 98.4% in 2015

The Chinese outbound travel and MICE services operator UTour reported 98.4% revenue growth for 2015, to RMB 8.366 billion, and operating profit also went up by 79.17% to RMB 259 million.

02/29/2016|11:25:34 PM|ChinaTravelNews

Hong Kong plans HKD 380 million package to revive inbound tourism

The Hong Kong government is planning a range of measures to boost its flagging inbound tourism. The initiatives, expected to cost HKD 380 million in the government's latest budget, include waiving licence fees for local travel agents and hotels and expanding the scale of major events to be held this year.

02/26/2016|11:26:57 PM|ChinaTravelNews

Jin Jiang Hotels secures RMB 4.92 billion loan for overseas acquisitions

Jin Jiang Hotels has been granted a loan of RMB 4.92 billion by the Export-Import Bank of China’s branch in Shanghai as the travel company is planning further acquisitions overseas.

02/26/2016|10:58:35 AM|ChinaTravelNews

Haoqiao.cn repositioned as B2B portal for international hotels booking

As it embarks on a new round of fund-raising for RMB 60 million, Haoqiao.cn plans to make itself the one-stop shop for connecting agents with international hotels, and deliver added values to travel agents who are looking for new ways of doing business.

02/26/2016|10:10:57 AM|ChinaTravelNews

CITS and HKCTS to merge into largest state-owned travel enterprise

The CITS Group Corporation and the HKCTS Group Corporation are planning a possible consolidation. The plan, yet to be finalized, will have to be approved by the authorities.

02/26/2016|11:28:23 PM|ChinaTravelNews
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