Tuniu Reports Acquisitions Of Two Travel Agencies

(RTTNews) - Tuniu Corp. (TOUR), an online leisure travel company in China, announced the acquisition of majority stakes in Zhejiang Zhongshan International Travel Services Co., LTD, a Hangzhou-based travel agency, and China Classical Holiday, a Tianjin-based travel agency.

Each of these agencies has a license to offer and operate Taiwan tours in mainland China. Through the deals, Tuniu has gained access to the expanding Taiwan tours market.

In 2014, about four million tourists from mainland China visited Taiwan, representing a year-over-year growth of 39 percent. Taiwan was ranked one of the top 5 destinations out of mainland China in terms of the number of tourists from mainland China.

Zhongshan and China Classical Holiday are among the leading travel agencies in Hangzhou and Tianjin with 20 and 17 years of operation history, respectively.