Another Merger Within China’s Internet Travel Sector
Chinese online tourism service provider Ly.com announced a full acquisition of Shanghai Meichen International Travel Service Co. Ltd. This is reportedly the second Chinese travel agency acquired by Ly.com over the past two months. The first one was Nantong Huihuang International Travel Service Co. Ltd. Founded in 2005, Shanghai Meichen International Travel Service is a […]
China’s Online Travel Sector Finds Big New Investment
Who said only Ctrip and eLong ruled the Chinese Internet travel world? LY.com, one of China’s many privately-run travel booking websites, announced that they have gained over CNY6 billion new investments from Wanda Culture Industry Group, Tencent Industry Win-Win Fund, and CITIC Capital. As the lead investor, Wanda Culture Industry Group invested CNY3.58 billion in […]
Chinese Social Media Travel Website Gains USD15 Million Investment
With the backdrop of worries over a tourism drop in China because of the avian flu, Mafengwo.cn, a Chinese tourism social media website, announced that it has completed its B financing round of USD15 million and the investors included Qiming Venture Partners and Capital Today.
Rizhao To Adopt E-tickets For All Tourism Scenic Spots
The Rizhao Tourism Administration has unveiled plans to allow tourists to the famous Shandong seaside scenic area to now pre-purchase all tickets online.