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Vacasa to acquire Wyndham Vacation Rentals for $162 Million

Vacasa to acquire Wyndham Vacation Rentals for $162 Million

The deal is a milestone for the Portland, Oregon-based Vacasa and its founder and CEO Eric Breon. It nearly doubles the startup’s inventory to more than 23,000 homes.

07/31/2019|3:46:46 PM|Skift
Wyndham plans to open 500 hotels in China in the next three years

Wyndham plans to open 500 hotels in China in the next three years

In Greater China, Wyndham Hotels is the largest international franchisor, with more than 1,500 properties and 149,000 rooms in its franchised system.

07/31/2019|2:36:11 PM|Hotel News Resource
Marriott’s Alibaba joint venture in China is part of its direct-booking strategy

Marriott’s Alibaba joint venture in China is part of its direct-booking strategy

Marriott could do a lot worse than tying its fortunes in China to the e-commerce juggernaut Alibaba.

07/30/2019|6:29:24 PM|Skift
Foreign hotels open to diversifying distribution mix in China

Foreign hotels open to diversifying distribution mix in China

Mini programs on Taobao, shopping links on Douyin…the new developments exemplify how exciting is China's ever-evolving e-commerce. And foreign hotel companies are increasingly trying to be a part of that.

07/30/2019|6:13:44 PM|ChinaTravelNews
Franchise Hotel Qingzhu secures three financing rounds in H1 2019

Franchise Hotel Qingzhu secures three financing rounds in H1 2019

Qingzhu has signed a total of 2,000 hotels and aims to have 4,000 by the end of this year.

07/30/2019|3:04:23 PM|ChinaTravelNews
Traveloka is in talks to raise USD 500 million new funding

Traveloka is in talks to raise USD 500 million new funding

This new investment could value Traveloka at USD 4.5 billion, according to the report. The company is said to utilize the fresh funds to expand its services in the region.

07/30/2019|11:38:29 AM|KrAsia
Chinese star-rated hotels generate 52.58 billion yuan in Q4 2018

Chinese star-rated hotels generate 52.58 billion yuan in Q4 2018

In Q4 2018, the ARR of China’s star-rated hotels was 356.34 yuan per room night, up by 1.17%; the AOR was 57.43%, down by 0.50% and RevPAR was 204.63 yuan, up by 0.66%.

07/29/2019|11:18:38 PM|ChinaTravelNews
Argentina gears up to welcome Chinese visitors

Argentina gears up to welcome Chinese visitors

Argentina is banking on the old adage of a man's heart is through his stomach to attract more Chinese tourism, and the strategy is part of "Hilton Huanying" program.

07/29/2019|1:57:10 PM|Xinhua
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