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Hotel room glut drives down room rate and revenue in China
08/03/2016|10:01:40 AM|
Hotel chains over-expansion has caused four in ten hotel rooms in China staying empty and is driving down room rate and RevPAR.
China Eastern, China Southern to move to new Beijing airport
08/01/2016|10:16:21 AM|
Beijing’s second airport is to redistribute interests in air market, as Air China will stay in Beijing Capital Airport while China Eastern and China Southern will leave.
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.
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.
Expedia posts 20% growth in hotel room nights
07/28/2016|6:05:42 AM|
Expedia‘s gross bookings increased 25% YoY to over $18.8 billion in the second quarter of 2016. Revenue increased 32% YoY to over $2.1 billion.
Travel startups create 3.39 million tourism jobs in 2015
07/27/2016|6:48:16 PM|
Tourism-related entrepreneurship and innovation created around 3.3945 million jobs in China in 2015, accounting for 12.13% of direct employment in the industry.
QuHappy.com completes Pre-A round financing
07/27/2016|9:31:44 AM|
Destination travel product distribution platform QuHappy.com has announced it had completed its Pre-A round financing in May. The investment from venture capital fund owned by Guangdong Technology Venture Capital Group in the round boosted the valuation of QuHappy to above RMB 100 million.
New Third Board-listed UCAR eyes bigger presence in China’s auto industry
07/25/2016|9:25:57 AM|
While investors of Didi and Uber are pushing for potential deals, UCAR has landed on New Third Board and is looking to carve a bigger slice of China's auto market.
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