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Homestay booking platform Muniao completes B+ round financing

China’s short-term home-sharing startup Muniao has completed its B+ round financing. The new investors are Quan Funds, Oriental Fortune Capital, Innovation Angel Funds, Plum Ventures and Max Capital.

11/08/2017|7:26:26 PM|ChinaTravelNews

Outbound travel service provider Phoenix Tours closes RMB 700 million C round

Outbound travel service provider Phoenix Tours announced that it has received RMB 700 million in its C round financing. It will continue to balance supply and demand with the funds raised.

11/07/2017|10:41:32 AM|ChinaTravelNews

Jin Jiang hotels’ operating revenue stands at RMB 10.03 billion

In January-September, Jin Jiang International Hotels netted RMB 10.03 billion in operating revenue, up 32.86%, and the net profit attributable to the listed company was RMB 712 million, up 40.75%.

11/03/2017|9:08:35 PM|ChinaTravelNews

BTG reports 550 million yuan net profit in first 3 quarters of 2017

BTG Hotels registered 40.15% increase in operating revenue to RMB 6.312 billion in the first nine months of the year. The net profit attributable to the parent company was RMB 550 million, up 250.9%.

11/01/2017|1:18:49 PM|ChinaTravelNews

Alibaba founder invests in Airbnb’s China rival Xiaozhu

Chinese house-sharing platform Xiaozhu.com raised $120 million in its latest financing round backed by Alibaba founder Jack Ma's Yunfeng Capital, making it a billion-dollar unicorn startup.

11/02/2017|7:33:32 AM|ChinaTravelNews

UCAR to acquire 14.54% of CAR Inc. for RMB 1.917 billion

China’s chauffeured car service provider UCAR announced its plan to buy 318 million shares of CAR Inc., a provider of car rental services, for HK$ 2.262 billion (RMB 1.917 billion).

10/30/2017|10:50:08 AM|ChinaTravelNews

UTour net profit drops 13.79% in first 9 months 2017

In the first three quarters of 2017, UTour generated RMB 9.224 billion in operating income, and net profit attributable to shareholders was RMB 182 million, down 13.79% year on year.

10/27/2017|6:41:17 PM|ChinaTravelNews

Ride-booking App Shouqi secures RMB 600 million B round

China’s ride-booking App Shouqi Limousine & Chauffeur has secured RMB 600 million from a subsidiary of China Oceanwide Holdings Group, which now holds a 11.67% stake in the company.

10/26/2017|3:44:15 PM|ChinaTravelNews
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