Club Med plans to add seven resorts in China by 2020 following its sale to Fosun at EUR24.6 per share.
Huatian Hotels intended to issue only 150 million shares to raise RMB600 million, but Huaxin Turbine offered RMB1.653 billion in cash for 29.44% equity.
ChinaTravelNews recaps highlights of China's travel industry for 2014 and looks ahead to the industry's future for 2015.
ChinaTravelNews assesses how China Lodging Group is planning to strengthen its network as well as direct sales capability, which currently accounts for 90% of its bookings.
China’s star-rated hotels had total revenues of RMB54.816 billion at average occupancy rate (AOR) of 58.31% in Q3 of 2014.
China XLD Group’s acquisition of the Los Angeles Airport Marriot for US$165 million is the second Marriot acquisition for the group in a year.
Qunar is tempting hotels’ with zero commission and e-currency for every converted booking. Customers and hotels stand to benefit from the campaign and Qunar will gain room nights, albeit at heavy campaign cost and no additional revenue.
China Lodging acquired long-term leasing of the properties and is committing RMB100 million to renovate the three Merrylin hotels for rebranding under its mid-range JI Hotel brand.
