The strategic investment will allow the firm to gain entry to Vietnam’s booming market of nearly 100 million people.
Potential investors were told Siteminder's revenue was forecast to grow by 30 percent in the 2020 financial year to more than $125 million.
The alliance seeks to generate traffic to hotels and provide technical support and intelligent hardware in the future.
Hong Kong residents made 1.7 percent more departures in the three-month period from July to September.
The company faces stiff competition for its travel booking services from bigger rivals like Alibaba’s Fliggy and Ctrip.
Some of Fosun’s existing travel offerings will be grouped together and re-branded as Thomas Cook to lure travelers.
PMCs will race for overall dominance with mergers and acquisitions to be the next unicorns.
This year saw several $100 million-plus investment rounds - with five new companies achieving unicorn status in the process.
ChinaTravelNews is a wholly owned subsidiary of
©2019 TravelDaily Inc.