Oyo Hotels & Homes is denying reports that it has conducted mass layoffs in China, after accounts in the local media indicated that the Indian lodging unicorn had cut up to 1,000 mainland staff.
An Oyo spokesperson refuted the claims… Read More>>
Kwek Family Net Worth Jumps $166M in 1 Day and More Asia Real Estate Headlines
Property dynasties lead the way in Mingtiandi’s roundup of Asia real estate headlines today with news that the net worth of Singapore’s richest family jumped $166 million in a single day following a deal to buy out a London-listed hotel… Read More>>
Ctrip Pushes Out Tujia Founder Luo Jun as CEO of China’s Airbnb
Luo Jun, founder of China’s answer to Airbnb, Tujia, has stepped down from his CEO role at the Ctrip-backed company, although he will continue to act as a director of the company he co-founded in 2011.
Luo was replaced at… Read More>>
Ctrip, GreenTree Take Cornerstone Stakes in HK$1.4B Zhejiang New Century Hotel IPO
Chinese online travel giant Ctrip is subscribing for $32 million worth of shares in one of mainland China’s largest private hotel groups, Zhejiang New Century Hotel Management, ahead of the company’s upcoming Hong Kong IPO.
Ctrip, together with New York-listed… Read More>>