HNA Group in­vests $78.3m in Zhubai­jia

China Daily (Canada) - - TORONTO -

Diver­si­fied con­glom­er­ate HNA Group on Wed­nes­day said its tourism unit is in­vest­ing at least 500 mil­lion yuan ($78.3 mil­lion) in Zhubai­, an over­seas short-term rental plat­form. The lat­ter is con­sid­ered China’s ver­sion of Airbnb. The move comes as the seg­ment is con­sid­ered highly promis­ing. The HNA Group, par­ent of Hainan Air­lines Co Ltd, said it ex­pects Zhubai­ to at­tract HNA’s premier cus­tomers, and drive other ex­ist­ing over­seas travel ser­vices to HNA, to stay ahead of in­tense com­pe­ti­tion.

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