Caissa Tourist plans to make an investment in outbound tour platform HuanTaoYou and expedite consolidation of overseas resources by leveraging the latter’s supply-sales connection.
The collective income of China’s top 20 tourism groups this year is 40% higher than last year. The rapid growth is said to be a result of capital-driven mergers and online-offline consolidations.
China’s private conglomerate Fosun International announced on November 29 that it will complete spin-off of its travel arm by the end of this year for a potential IPO in 2020.
Low-cost trips with shopping account for over 90% of China's domestic tour group-package business, according to a report of Indian news website IBTimes.
China National Travel Service Group, the country’s largest tourism conglomerate, plans to launch an RMB 50 billion investment fund, targeting aggressive acquisitions around the world.
Sinbad Travel has secured millions of yuan in A+ round and plans to use the funds to upgrade its itinerary customization system and consolidate overseas resources.
Xinhua report attributes China’s tourism growth to improvement of travel service quality by suppliers.
Study finds that China had the largest number of outbound tourists in the world in 2015.
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