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Jin Jiang subsidiaries transfer 100% Hubs1 equity to WeHotel
04/06/2017|11:54:39 AM|
Jin Jiang Hotels announced on April 5 that the company and Jin Jiang Capital plan to transfer 100% equity interests in Hubs1 to WeHotel for a total consideration of RMB 553.08 million.
C2B hotel booking site WoXingWoSu closes 10 million yuan Pre-A round
04/05/2017|10:17:32 AM|
C2B hotel booking service WoXingWoSu announced that it has raised RMB 10 million in its Pre-A round following its 5 million yuan angel round earlier this year.
Spring Airlines posts 28.42% slump in 2016 net profit
04/05/2017|9:53:57 AM|
China’s biggest low-cost carrier reported a 28.42% fall in net profit for 2016. The airline also announced that its chairman Mr. Zhenghua Wang has stepped down and been replaced by his son and former president of the company, Mr. Yu Wang.
Jin Jiang Hotels' net profit drops 12.4% in 2016
03/31/2017|6:45:07 PM|
Jin Jiang International Hotels Group reported sales revenue of RMB 17 billion, up by 39.5% YoY. Operating profit amounted to RMB 2.1 billion, 8.0% more than previous year.
Ctrip survey finds 73% Chinese travelers with budget of 10,000 yuan in 2017
03/30/2017|7:26:47 PM|
More than half of the polled Chinese travelers plan to spend over 10% of annual income on travel in 2017. Some 73% of them set aside a travel budget of more than RMB 10,000 (USD 1,452), and 60% will opt for outbound tours.
Shimao Property partners with Starwood Capital to create new hotel JV in China
03/30/2017|7:25:18 PM|
Chinese developer Shimao Property and global private investment firm Starwood Capital will establish a new hotel joint venture based in China. The venture will be owned 51% by Shimao and 49% by Starwood Capital.
China Travel International's net profit plummets 74% in 2016
03/30/2017|6:21:14 PM|
Tourism conglomerate China Travel International reported revenue of HK$4,070 million in 2016, down by 7%. Profit attributable to shareholders tumbled 74% to HK$350 million.
Rezdy partners with VELTRA to expand distribution channels in Asia
03/30/2017|1:48:57 PM|
B2B online distribution and reservation platform Rezdy LLC has partnered with Asia’s leading online travel agent VELTRA to increase its distribution channels in APAC.
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