Trip.com acquires a single-digit percentage of Smart Order’s shares as part of the deal.
China Eastern Air Holding Company Limited, controlling shareholder of the company, would invest at least RMB 5.0 billion in the share sale.
GTI wants to sell its existing restaurant business to GreenTree Hospitality.
Chinese hotel chain shares tumbled about 60% in the past year.
Ramp’s extra push into corporate travel comes as bookings bounce back.
Sumei has over 5,800 hotels in 324 cities.
The number of newly registered companies in the sector grew from 647 in 2011 to 3,933 in 2021.
The startup has established partnerships with over 1000 tourist attractions.
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