The joint venture will have an initial registered capital of 100 million yuan ($21 million), with Ascott, Huazhu(China Lodging) and CJIA holding 50%, 10% and 40% respectively in the partnership.
The company will continue to boost market promotion and operation systems, and it plans to cover 100,000 rooms in 70 cities by the end of 2018.
ttg aims to become a new-generation accommodation service provider while exploring new possibilities in the travel accommodation sector.
GreenCloud has signed 12,000 clients and has partnered with more than 20 local hotel groups ranked in the top 60 Chinese hotel groups as well as major international hotel brands.
Amadeus' revenue grew 3.1% from January to March compared to the first quarter of 2017, reaching €1,230 million, while EBITDA increased 7.4% to €539 million.
DRORE ONE, a cloud computing platform for intelligent travel, aims to provide overall solutions for the tourism ecosystem by integrating IoT, big data, AI and other technologies.
Zhenlv is a travel SaaS cloud service provider and is said to be valued at nearly RMB 100 million ($15.75 million).
The resort adds to a broad portfolio owned by Fosun Tourism and Culture Group, a key profit growth driver for the conglomerate, which also owns the French Club Med and a stake in Cirque du Soleil.
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