China: Shenzhen-based high-end boutique lodging company Passing Cloud has received at least $15 million [100 million renminbi] in strategic investment.
The investment round was led by Jiangsu Wenfeng Group.
Founded in 2015, Passing Cloud [or Po Xin Yun She in Chinese] creates “high-end boutique lodges” under a number of brands in China’s ancient cities, towns and villages
The high-end homestay brand claims that its accommodations are operated somewhere in between an inn and a hotel, but it has a “higher quality than a five-star hotel”.
Its core cultural concept as a company is creating “one city, one courtyard, one family, one bedroom” in ancient cities, towns and villages, meaning that every trip is a “journey home for the soul” at a spiritual level.
Its room rate averages at around $300 per night [2,000 yuan].