HNA Group invests $78.3m in Zhubaijia
Diversified conglomerate HNA Group on Wednesday said its tourism unit is investing at least 500 million yuan ($78.3 million) in Zhubaijia.com, 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 Zhubaijia.com to attract HNA’s premier customers, and drive other existing overseas travel services to HNA, to stay ahead of intense competition.