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eLong Acquires 80% Of Hotel Marketing Service
November 30, 2004 |
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eLong (LONG) has announced its 80% acquisition of Ray Time, a marketing and hospitality planning service provider for China's best hotels.
Ray Time is also the only non-hotel member of CFHC (China Famous Hotel Corporation), an industry organization in China.
Ray Time claims 100000 members who receive free or preferential service at more than 40 five-star hotels across China.
After the acquisition, these Ray Time members will become members of eLong's own members-only travel club. The merger is expected to stimulate eLong's ticket sales prior to the big Spring Festival holidays in February 2005.
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