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7m Chinese to peak National Day break, Meituan in-store, hotel & travel up 44.1% in revenue, and more
09/30/2018|1:16:38 PM|
Around seven million Chinese are expected to travel abroad during the Golden Week. Meituan was listed in Hong Kong and reported a 10.6% rise in in-store, hotel and travel businesses GTV and 44.1% in revenue.
Germany Pavilion debuts at ITB China 2019
10/15/2018|3:54:24 PM|
The VIR (Verband Internet Reisevertrieb) is organising a combined stand for tourism companies from Germany at ITB China 2019 – The German National Tourist Board, Solamento and Sunny Cars already confirmed their participation.
Ctrip ventures into hotel management by launching Rezen Hotels Group
10/10/2018|8:42:03 AM|
The launch of Rezen Hotels, Ctrip’s first high-end hotel brand, marks the group’s strategy to branch out to the high star-rating hotel sector.
Ctrip’s $157 million ABS product approved for tourism financing
05/23/2018|9:01:18 AM|
Insiders believe that the issuance of the first tourism ABS product reflects Ctrip and other overseas listed companies’ optimism in embracing the Chinese capital market.
Visa application service 11visa.com raises RMB 60 million in Series B round
09/05/2018|5:23:47 PM|
The company aims to grow its revenues to over RMB 100 million (USD 14.6 million) this year.
Sino-US travel hit by trade war, Tencent to buy $400m stake in Meituan IPO, and more
09/03/2018|10:51:01 AM|
Chinese tourists to Russia increased by 150% in January-July 2018. Weekly travel bookings from China to the US dropped by 8.4%. Meituan is to go public in Hong Kong on Sept. 20, and Tencent plans to buy $400 million worth of shares in the IPO.
Membership consumer service Black Fish raises $50 million in Series A+ round
08/27/2018|10:29:11 AM|
Taking a cue from the business models of American Express and Costco, Black Fish builds its own membership system and provides finance, tourism and merchandise services to its registered members.
China’s star-rated hotels report Q1 revenue at ￥48.711 billion
08/23/2018|8:22:33 AM|
In Q1, the average room rate (ARR) of all star-rated hotels was RMB 343.13 per room night, average occupancy rate (AOR) was 50.55% (+0.35pp), and revenue per available room (RevPAR) was RMB 173.45 (1.77%).
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