Travelling With inns raised millions of yuan in its series A round, which was backed by Gobi Partners.
LN Holdings’ operating revenue increased 3.98% to RMB 82.69 million in the third quarter of 2016. Net profit was RMB 7.85 million, up by 30.82% YoY.
Jin Jiang Group’s subsidiaries Jin Jiang Hotels Development, Jin Jiang Investment, Jin Jiang Travel registered a total of RMB 736 million net profit in Q3 2016.
Japan's household and consumer product brand Muji plans to open its first hotel in Beijing by the second half of 2017.
Chinese hotel marketing providers Zhiding365.com, Amttnet.com and Medeen.net announced that the three companies will merge under Zhiding365.com.
Budget hotel operator Podinn Hotel was listed on New Third Board on October 17. It registered RMB 1.98 million net loss in 2015 and RMB 12.18 million net income in 2014.
Hotel companies Homeinns and Jin Jiang remodeled some of their existing economy hotels to midscale hotels to overcome problems in finding properties and increase RevPAR.
Operating revenue rose 541.76% to RMB 2.176 billion and net income climbed 467.06% to RMB 143 million, according to the company’s third-quarter preliminary results.
