China’s leading sharing economy provider of private accommodations, Tujia, has acquired the homestay business divisions of Chinese OTA Ctrip and its subsidiary metasearch engine Qunar.
With this, the homestay channels of both Ctrip’s and Qunar’s websites and apps, along with their operation teams and the entire business unit, will be merged into Tujia.
Justin Luo, CEO of Tujia said that the acquisition was executed mainly out of the sustained optimism of all stakeholders towards the market and that the objective is to deliver a better user experience. He adds that this acquisition basically enables Tujia to integrate the short-term rental space in China.
Tujia, known as the Airbnb of China, had also recently purchased Mayi.com in June, a short-term rental platform.
Alongside the acquisition, Luo also made known Tujia’s plans for the next five years – to continue building the private accommodations ecosystem and to better differentiate Tujia’s online and offline businesses.
