China’s SMEs Fund invests $17 million in hotel booking platform Haoqiao

China’s National SMEs Development Fund teamed up with China Merchants Capital Investment to inject RMB120 million ($17 million) in series B+ round in a fast-growing hotel searching and booking platform, according to Deal Street Asia.

This is the National SMEs Development Fund’s second investment in the online travel services space, following its investment last month in Meiya, an online flight ticket search and travel-management platform. Haoqiao, set up in 2013, currently features 550,000 international hotels in 2,000 cities worldwide on its platform. It claims that it generated the revenue of $130 million last year, rising from $26 million in 2015.

“The booking of international hotels (in China) is facing major challenges, including the lack of price transparency, limited channels and limited ability to connect resources within the system,” said Shi Xin, VP at the national SME development fund. “ increases the docking efficiency of upstream and downstream resources, lowers costs and enhances customer experience.”

Virtual Event


Survival in these times is highly dependent on a hotel's ability to quickly adapt and pivot their business to meet the current needs of travelers and the surrounding community. Join us for Optimization Part 2 – a FREE virtual event – as we bring together top players in the industry to discuss alternative uses when occupancy is down, ways to boost F&B revenue, how to help your staff adjust to new challenges and more, in a series of panels focused on how you can regain profitability during this crisis.

Suggested Articles

Champions For Better Business assists hotels with the logistics of removing furniture, fixtures and equipment as part of a renovation or conversion.

After launching in North Carolina, the brand will expand into Virginia, Tennessee, South Carolina and Texas.

Nomadix PBX aims to help hotels upgrade outdated equipment, meet new safety requirements and save money each month.