CITS posted 6.8% revenue increase to RMB 21.292 billion for 2015, and net profit attributable to shareholders of parent company was RMB 1.506 billion, up by 2.42%
GuangZhiLv has formed a Hunan branch with HuangGuanMeiTu after acquiring the wholesaler in central China that specializes in short-haul tours to Southeast Asian destinations
HNA-Caissa recorded annual revenue of RMB 4.935 billion in 2015, with travel service accounting for RMB 4.259 billion. Net income applicable to common shareholders was RMB 206 million, up by 129.72% YoY.
The CITS Group Corporation and the HKCTS Group Corporation are planning a possible consolidation. The plan, yet to be finalized, will have to be approved by the authorities.
Domestic OTAs have been engaged in a cut-throat battle over the past few years. Foreign OTAs have room for growth, but they need to move assiduously.
FX Trip, a service provider of independent travel, has received a multi-million dollar investment in the B Series financing round, led by Zhongwei Capital.
China’s tourism industry has been struck by the shocking announcements that China Southern Airlines and Hainan Airlines are terminating their partnerships with Qunar.
HKCTS is seeking strategic investment from Ming Trip and Ruiheng Investment Management for a capital restructuring of its OTA subsidiary Mangocity.
