The rival chinese Airbnb raises $ 300 million

Stay n°1 in China. It is the goal of the “Airbnb” chinese, Tujia, who has just finished a fundraising of $ 300 million with Ctrip – largest online travel agency in China, and All Stars Investment, reports Bloomberg. The chinese leader rental property between private individuals is now valued $ 1.5 billion.

The company based in Beijing wants to continue to develop in China, but also at the international level – such as Japan, very popular destination for chinese tourists. The startup is hoping to be able to offer 100,000 ads in the country of the rising Sun by 2019 – compared to only 10,000 currently.

This fundraiser comes shortly after the offensive of Airbnb to conquer China. Last march, the collaborative platform in the us has announced that it wants to double its investments and to triple its workforce on the chinese market. And to appeal to the emerging middle class and chinese youth, Airbnb went so far as to rename locally “Aibiying”, which literally means “to welcome with love”. Implanted in China for 2014, Airbnb offers as many as 80,000 housing units in the country – a figure that is up 160% year on year… But that remains far behind Tujia.

| Read also : China : how Airbnb wants to avoid the failure of Uber

Appeal to “millennials”

Created in 2011, three years after Airbnb, Tujia claims 650.000 ads online. It offers 345 destinations in China and 1.037 abroad. The company shares with Airbnb one and the same target : the “millenials”, who wish to be rid of the organized tours by tour bus, preferred by their parents.

“The ‘millennials’ chinese are a huge market – nearly half a billion people -and account for 80% of our business here in China”, explained in march the Ceo of Airbnb, according to Reuters. “It is a new generation that journey very differently.”

The hard part : to convince the Chinese, for whom home is synonymous with cocoon, to rent to strangers. The third actor in the market, Xiaozhu, mobilizes, therefore, “a manager behind each property” rental, ensures for the New York Times Kelvin Chen, director-general of Xiaozhu. “We still need time to educate the users.” But there is no doubt that the companies will be convincing to conquer the market chinese tourist in full boom. According to the research firm IResearch, the market of the tourist rental online could reach 10.3 billion yuan (1.5 billion dollars) this year – against 6,78 billion estimated in 2016.

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