:
Rental platforms face renewed crackdown in Beijing
Reading Time: 2 minutesChina: A significant number of short-term rental listings on platforms such as Airbnb in Beijing are reportedly being shut down on the orders of the city’s government. Chinese investigative journalism website Caixin said that nine short-term rental platforms, including the likes of Airbnb, Trip.com, Meituan and Tujia, were summoned to a meeting on 20 August […]
Airbnb suspends Beijing check-ins due to coronavirus
Reading Time: 2 minutesChina: Airbnb is suspending check-ins in the Chinese capital of Beijing until at least March due to concerns over the coronavirus threat. UPDATE: Reuters reports that these delays have been extended until May. This, according to the company, is to comply with city regulations responding to the disease. Airbnb is offering refunds to any and […]
Sweetome Group acquires CityHome and iYOUJIA.com
Reading Time: 2 minutesChina: Sweetome Group, part of Chinese online home-sharing unicorn Tujia, has purchased 100 per cent shares in domestic vacation rental startups, CityHome and iYOUJIA.com. The latest acquisitions will help to consolidate Sweetome’s position in China’s burgeoning rental market, given that the Group is also receiving a strategic investment from online classifieds platform 58.com. The funding […]
Tujia exceeds 1.4m global listings ahead of IPO
Reading Time: 2 minutesChina: Chinese home-sharing platform Tujia has announced it has exceeded 1.4 million global listings and expects to break even in the second half of this year, according to 36Kr. The news comes as it is being rumoured that Tujia will go in for an initial public offering, perhaps as early as this year. The company, […]
Luo Jun stands down as CEO of Tujia
Reading Time: 2 minutesChina: Tujia co-founder Luo Jun has announced he is stepping down from his CEO role at the Ctrip-backed firm, although he will remain as a company director. Jun was replaced at the helm of the online vacation rental platform in February by Tujia COO Yang Changle with immediate effect, according to an internal memo from […]
Cozystay adds first properties in China with acquisition
Reading Time: < 1 minuteChina: Cozystay, a vacation rental platform for Chinese travellers, has added its first properties in China after acquiring Oak Properties. Oak Properties, which will continue to operate under that name, manages around 300 private rentals in China in cities including Taiyuan, Tianjin and Suzhou. CEO of Vancouver-based Cozystay, Galen Cheng, said: “We’ve had an incredible […]
China Airbnb rival Xiaozhu reveals funding of nearly $300 million led by Jack Ma
Reading Time: < 1 minuteChina: Chinese short-term rental firm Xiaozhu.com has revealed it has raised almost $300 million in a funding round led by Jack Ma’s Yunfeng Capital, amid competition from Airbnb and Tujia.com. The company did not disclose its new valuation but said it was worth more than $1 billion last November after clinching a $120 million round, […]