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UTour’s outbound wholesale revenue climb 59% in first half of 2016
08/22/2016|9:56:02 AM|
UTour’s operating revenue grew 41.99% to RMB 4.453 billion in first six months. Revenue from its outbound wholesale business was RMB 3.43 billion, up by 59.03% YoY.
China Lodging Group grows robustly in mid- and up-scale RevPAR
08/16/2016|9:22:10 PM|
Occupancy rate was 85.2% in Q2 2016, compared with 85.8% in Q2 2015. The slight decrease was due to lower occupancy in lower-tier cities.
Accor explores upscale hotel market in China after FRHI acquisition
08/01/2016|9:56:17 AM|
AccorHotels has boosted its hotel portfolio in China to 195 following its acquisition of FRHI and its three upscale hotel brands, and plans to open four Sofitel hotels, four Pullman hotels, one Fairmont hotel and two Swissotels by the end of next year.
Poly Real Estate plans to invest RMB 2.5 billion in Didi
06/23/2016|10:50:36 AM|
Poly Real Estate will purchase 1.46% shares of Didi for less than RMB 2.5 billion. This puts the ride-share giant’s worth at about USD 26 billion. However, other data indicate that Didi may be worth at least USD 27.6 billion.
Ride-hailing platforms including Didi and Uber raise prices, no more money burning
07/28/2016|11:33:16 AM|
Ride-hailing platforms including Didi, Uber, UCAR and Yidao have cut subsidies and raised prices in several cities since last month.
Tujia acquires Mayi in strategic tie-up with 58 Inc.
06/22/2016|10:18:06 AM|
Tujia has fully acquired Mayi.com, and has made Mayi’s former controlling shareholder 58.com Inc. a new shareholder of Tujia.
China Resources Fund makes strategic investment in Meituan-Dianping
07/20/2016|3:05:49 PM|
Chinese Internet company Meituan-Dianping said on July 18 it has raised an undisclosed amount from China Resources Group in a fresh round of funding.
Fosun splashes out billions of yuan in luxury tourism property
07/19/2016|9:59:26 AM|
Fosun has splurged nearly RMB 11 billion on building Atlantis Sanya, a high-end resort featuring 807 apartments and 197 villas which will appeal to global investors.
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