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China’s star-rated hotels net RMB 471 million profit in 2016

The star-rated hotels in China netted operating incomes of RMB 202. 726 billion and total profits of RMB 471 million last year. Room and catering accounted for 44.79% and 41.30% of the total revenues.

10/23/2017|10:46:33 AM|ChinaTravelNews

Jinjiang dumps its majority stake in Joyu for RMB 970 million

Jinjiang International has transferred its 16.1892% stake in Joyu Group for RMB 969.8 million, after which it will no longer be a shareholder of Joyu.

10/20/2017|4:28:53 PM|ChinaTravelNews

BTG Hotels’ operating income rises 71.33% YoY to ¥3.988 billion

BTG Hotels reported operating income of ¥3.988 billion in H1 2017, an increase of 71.33%; net profit attributable to the parent company grew ¥227 million to ¥241 million, an increase of 1626.29%.

08/31/2017|9:45:57 AM|ChinaTravelNews

IHG’s mantra for localization in China – be “fully embedded”

When you understand data, technology, media mix etc. by being in proximity with local partners, it can pave the way for apt localization, asserts Billy Turchin, VP, Digital and Voice, IHG Greater China.

08/31/2017|10:05:17 AM|ChinaTravelNews

China Lodging expects 23%-26% revenue growth with Crystal Orange acquisition

China Lodging Group (Huazhu) raises net revenues growth range to 23%-26% given the consolidation of its Crystal Orange Hotel acquisition and better-than-expected performance in 2017.

08/17/2017|8:00:45 PM|ChinaTravelNews

Plateno Group’s Wowqu raises RMB 50 million in Pre-A round

Plateno's apartment rental brand Wowqu announced that it had received RMB 50 million in its Pre-A round financing backed by 58.com, a Chinese classified advertisement website.

08/11/2017|5:56:06 PM|ChinaTravelNews

Hilton to introduce new brands to China

Hilton is planning more than 400 hotels in Asia Pacific and expects to introduce more brands into China, considered a key market in its future strategy.

08/02/2017|4:21:16 PM|ChinaTravelNews

China’s Top 3 Hotel Groups: Jinjiang, BTG HomeInns and China Lodging

China Tourist Hotels Association has ranked Jinjiang Hotels, BTG HomeInns and China Lodging as the country’s top three hotel groups in its Top 60 China Hotel Groups ranking for the past year.

07/21/2017|6:20:44 PM|ChinaTravelNews
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