Vacation Rental Company Tujia Closes $300 Million
Tujia announced it has secured $300 million in financing led by Chinese travel company Ctrip.com International. Glade Brook Capital Partners, All-Stars Investment, China Renaissance and G Street Capital also participated in the funding.
Tujia, based in Beijing, provides an online platform for finding vacation rentals in tourist destinations. The company claims that its website offers 450,000 listings, covering 335 domestic destinations and 1,018 international destinations.
According to Luo Jun, Tujia’s founder, the funds will be used to help improve and standardize the firm’s accommodations and to invest in the domestic high-end real estate market and in foreign markets.