HNA Tourism Group takes stake in travel firm Tunui
Tuesday, 25 Nov, 2015
0
Major Chinese tourism group HNA has agreed a strategic partnership with online travel company Tuniu, and will invest US$500 million in the firm.
HNA Tourism Group will pay a 5% premium on Tunui’s current trading price and will hold approximately 24% of Tuniu’s outstanding shares to become its largest shareholder.
"We welcome HNA Tourism as our strategic shareholder and are excited about the potential presented by this strategic business cooperation. HNA Tourism is a leading tourism company in China with a rich collection of travel-related resources throughout the supply chain," said Donald Yu, Tuniu’s co-founder and CEO.
"As Tuniu continues to increase its direct procurement, HNA Tourism’s airlines resources will significantly enhance our ability to connect our network of departure cities to our constantly growing portfolio of destination offerings."
HNA Group has numerous aviation interests including Hainan Airlines, Tianjin Airlines and Capital Airlines.
It also owns and manages over 400 hotels and operates several airports in China.
Zhang Ling, chairman of HNA Tourism said: "We are also very excited about the formation of a stronger strategic alliance with Tuniu through this opportunity. Tuniu is a leading online leisure travel company in China with a broad customer base and well-established brand."
Under the terms of the strategic partnership, HNA will provide Tuniu access to its portfolio of hotel resources and airline products at a preferential rate to the value of at least US$100 million over the next two years.
TravelMole Editorial Team
Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
Vegas’s Billion-Dollar Secrets – What They Don’t Want Tourists to Know
Visit Florida’s New CEO Bryan Griffin Shares His Vision for State Tourism with Graham
Chicago’s Tourism Renaissance: Graham Interviews Kristin Reynolds of Choose Chicago
Graham Talks with Cassandra McCauley of MMGY NextFactor About the Latest Industry Research
Destination International’s Andreas Weissenborn: Research, Advocacy, and Destination Impact
Graham and Don Welsh Discuss the Success of Destinations International’s Annual Conference
Graham and CEO Andre Kiwitz on Ventura Travel’s UK Move and Recruitment for the Role
Brett Laiken and Graham Discuss Florida’s Tourism Momentum and Global Appeal
Graham and Elliot Ferguson on Positioning DC as a Cultural and Inclusive Global Destination
Graham Talks to Fraser Last About His England-to-Ireland Trek for Mental Health Awareness
Kathy Nelson Tells Graham About the Honour of Hosting the World Cup and Kansas City’s Future
Graham McKenzie on Sir Richie Richardson’s Dual Passion for Golf and His Homeland, Antigua
ADS PRO 
Clearing CSS/JS assets' cache... Please wait until this notice disappears...
Updating... Please wait...
Airlines suspend Madagascar services following unrest and army revolt
Airbnb eyes a loyalty program but details remain under wraps
Qatar Airways offers flexible payment options for European travellers
Air Mauritius reduces frequencies to Europe and Asia for the holiday season
Major rail disruptions around and in Berlin until early 2026