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BTG Hotels boosts operating revenue by 389.40% in 2016

BTG Hotels saw net profit in 2016 surge 110.66% YoY to RMB 210 million. Most of the company’s hotels are in the budget range, and only 9.32% hotels in upper midscale category.

04/11/2017|10:27:20 AM|ChinaTravelNews

Theme park and travel group OCT posts 35.48 billion yuan revenue in 2016

Theme park and tourism group OCT reported annual operating revenue of RMB 35.48 billion in 2016, 10.07% more than previous year. Net income attributable to shareholders rose 48.44% YoY to RMB 6.89 billion.

04/12/2017|2:58:38 PM|ChinaTravelNews

Jin Jiang subsidiaries transfer 100% Hubs1 equity to WeHotel

Jin Jiang Hotels announced on April 5 that the company and Jin Jiang Capital plan to transfer 100% equity interests in Hubs1 to WeHotel for a total consideration of RMB 553.08 million.

04/06/2017|11:54:39 AM|ChinaTravelNews

C2B hotel booking site WoXingWoSu closes 10 million yuan Pre-A round

C2B hotel booking service WoXingWoSu announced that it has raised RMB 10 million in its Pre-A round following its 5 million yuan angel round earlier this year.

04/05/2017|10:17:32 AM|ChinaTravelNews

Spring Airlines posts 28.42% slump in 2016 net profit

China’s biggest low-cost carrier reported a 28.42% fall in net profit for 2016. The airline also announced that its chairman Mr. Zhenghua Wang has stepped down and been replaced by his son and former president of the company, Mr. Yu Wang.

04/05/2017|9:53:57 AM|ChinaTravelNews

Jin Jiang Hotels' net profit drops 12.4% in 2016

Jin Jiang International Hotels Group reported sales revenue of RMB 17 billion, up by 39.5% YoY. Operating profit amounted to RMB 2.1 billion, 8.0% more than previous year.

03/31/2017|6:45:07 PM|ChinaTravelNews

Shimao Property partners with Starwood Capital to create new hotel JV in China

Chinese developer Shimao Property and global private investment firm Starwood Capital will establish a new hotel joint venture based in China. The venture will be owned 51% by Shimao and 49% by Starwood Capital.

03/30/2017|7:25:18 PM|ChinaTravelNews

China Travel International's net profit plummets 74% in 2016

Tourism conglomerate China Travel International reported revenue of HK$4,070 million in 2016, down by 7%. Profit attributable to shareholders tumbled 74% to HK$350 million.

03/30/2017|6:21:14 PM|ChinaTravelNews
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