Shares of Priceline fall most in six months, wiping out 2016 gains; TripAdvisor also falls after missing analyst profit estimates
Priceline registered gross travel bookings increase of 21% to $16.7 billion in the first quarter of 2016
Tourism investment in China hiked 42% in 2015 and reached 1.0072 trillion yuan, according to a tourism green paper published by Chinese Academy of Social Science (CASS).
LY.com announced that it has invested in DT Travel’s series A round. The move will help it expand in the TMC segment, which is estimated to be turning over more than RMB 100 billion and is expected to grow by 15%-20% annually for the next five years
Analysis of billions of travel transactions by Adobe found that the average look-to-book conversion rate for hospitality and travel-related products was 2.4%, with travel and hospitality at 0.7%.
BnbSitter, a Parisian startup that offers on-demand concierge for hosts of short-term rentals on Airbnb and other platforms, has secured $2.5 million in Series A funding.
TUI Group has finally sold its Hotelbeds business to Cinven and Canada Pension Plan Investment Board, netting Euro 1.165 billion ($1.3 billion) in the process.
Rakuten's venture arm led a $5 million Series A equity investment in tours-and-activities software provider Xola