Travel agencies in China organized 13.72 million outbound visits in the second quarter of 2016, up by 17.32% YoY.
Outbound-tour operator UTour announced its strategic acquisition of a Japanese ground handler to explore the independent travel to Japan.
LN Holdings planned to splurge RMB 3.437 billion to acquire 90.45% shares of GuangZhiLv, 100% stake in both Garden Hotel and China Hotel.
BuGenTuan announced that it has just received tens of millions of yuan in its series A round from undisclosed investors.
China's Fosun Group, owner of French resort operator Club Med, considers an IPO to help fund expansion in China, its second biggest market for sales.
UTour’s operating revenue grew 41.99% to RMB 4.453 billion in first six months. Revenue from its outbound wholesale business was RMB 3.43 billion, up by 59.03% YoY.
CYTS recorded a slight increase in main revenue to RMB 4.976 billion in the first half of 2016. Net income rose 92.17% YoY to RMB 318 million.
China's largest tourism state-owned enterprise wants to become one of the world's top 500 companies.