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Tongcheng Tourism plans demerger and separate IPOs
06/20/2016|10:20:43 AM|
Tongcheng plans to split its business into two separate entities: a travel agency selling leisure tours and attractions and a network grouping the company’s profitable standardized products in air, accommodation and railway.
Ctrip bullish over consolidated operating results with Qunar
06/20/2016|10:15:11 AM|
Ctrip started to consolidate Qunar’s financial statements from the accounting perspective. The companies are hopeful of posting non-GAAP operating profit soon.
Cncn Travel is to close series B round
06/20/2016|9:42:47 AM|
Cncn Travel is close to completing its series B round. Whether the company will speed up its expansion after the capital injection remains to be seen.
China Eastern announces segment-based agent fee policy for domestic flights
06/17/2016|11:11:38 AM|
China Eastern Airlines formally released a new agent fee structure for domestic flights paying agent fees by segment and class, effective July 1, 2016.
Tripb2b receives tens of millions of yuan in series A round
06/17/2016|9:43:19 AM|
B2B travel platform Tripb2b announced on June 15 that the company has received tens of millions of yuan in its A-round funding. The funding that is purely financial investment was led by Yiyin Fund and followed by J-High Investment.
China Lodging announces new president and plans to tap sharing accommodation
06/16/2016|3:39:26 PM|
China Lodging Group announced on June 13 that the company has promoted Hui Jin as president. Mr. Jin continues to participate in the company’s major decision-making and reports to CEO Jenny Zhang.
Directions raises millions of yuan in series Pre-A round
06/16/2016|3:34:57 PM|
Outbound travel service platform Directions announced that it has closed its Pre-A round with millions of yuan from ONES Ventures. The money will be invested in product R&D and marketing.
China Eastern resumes flagship store on Qunar following Air China’s lead
06/16/2016|3:29:32 PM|
China Eastern Airlines reopened its flagship store on Qunar on June 14, just one day after a similar move by Air China. The booking aggregator’s current listings also include China Eastern’s code-share flights operated by China Southern Airlines.
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