National Geographic Expeditions announced that it has acquired Global Adrenaline.The transaction is a key part of its overall growth plan for the travel business.
CITS Group posted operating revenue of RMB 22.39 billion in 2016, up by 5.16%. Net profit last year climbed 20.07%. Operating revenue grew 10.54% in the first quarter of 2017 while net profit for the period rose 5.83%.
Chinese tour operator giant Utour Group recorded operating revenue of RMB 10.1 billion in 2016, up 20.71% YoY, while peer HNA-Caissa’s operating revenue of the year grew 34.48% to RMB 6.64 billion.
Travel and finance group Tempus Global’s operating revenue grew 37.93% to RMB 1.28 billion in 2016. Net profit rose 22.52% YoY to RMB 178 million in the time.
Chinese tour operator group CYTS Tours recorded RMB 10.33 billion operating revenue in 2016, a 2.36% drop from a year before. Net profit grew 63.83% YoY to RMB 484 million in the year.
With a 12% increase in spending last year, China continued to lead international outbound tourism, followed by US, Germany, UK and France as top five spenders worldwide, reported UNWTO.
Theme park and tourism firm OCT Co. plans to divest its stakes of 100% in Taizhou OCT and 60% in OCT Vision. The two deals will be worth RMB 2.3 billion.
Revenue from China's rural tourism surpassed RMB 570 billion (USD 82.66 billion) in 2016, up significantly from RMB 440 billion a year ago.
ChinaTravelNews is a wholly owned subsidiary of
©2017 TravelDaily Inc.