Wanda Tourism acquires Nanjing Yuanye to quicken nationwide expansion
30.10.2014
Wanda Beijing Tourism Investment Co., Ltd (Wanda Tourism) has successfully completed an acquisition of Nanjing Yuanye International Travel Service Co., Ltd and Nanjing Overseas International Travel Service (Nanjing Yuanye), on October 28.
Nanjing Yuanye is a leading Tourism agency in Nanjing and is Wanda's 9th travel agency acquisition thus far. Over the past month, Wanda Tourism has closed three acquisition's in the Yangtze River Delta area. By doing this, Wanda Tourism lays its strategic footprint in both Zhejiang and Jiangsu provinces, helping the company to develop a strong presence in the region.
As one of Jiangsu province's largest travel agencies, Nanjing Yuanye is one of the most established and competitive travel agencies in Nanjing. The company generated revenue of 800 million yuan in 2014 and employs close to 300 people. As the capital of Jiangsu province, Nanjing is a well-established and resource rich destination for tourism in China.
Nanjing Yuanye will be renamed Jiangsu Wanda Yuanye International Travel Service (ITS) Co ., Ltd.
Wanda will continue to expand its nationwide footprint in the tourism sector and aims to establish a model travel agency business in terms of both management and performance.