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HNA’s investment in housing rental site to boost offshore duty free in Hainan

HNA Tourism representatives celebrate the partnership with Zhubaijia.com



 

 

 

 

 

 









  


                                                                                                                           

HNA Tourism Group is to invest US$78 million (RMB500 million) in housing rental site for travellers Zhubaijia.com. The move looks set to drive tourism in Hainan, where an ‘offshore duty free’ policy has been executed on the island since 2011. 


HNA Tourism will share its customer base with the website – which is similar in scope to Airbnb – and is aiming to turn the platform into the most popular housing rental site for Chinese travellers. 

Zhubaijia.com will be able to offer “comprehensive and premium services tailored to Chinese travellers” featuring a mix of air travel, hotels, tailor-made tours and other travel services. 

China’s offshore duty free policy on Hainan Island has been operated successfully by China Duty Free Group and Hainan Duty Free, and an increase in tourists will only enhance commercial prospects. 

Hainan Duty Free (assisted by support partner DFS Group) operates Hainan’s only offshore duty free airport store at Haikou Meilan Airport, where sales rose +47% in 2014 to RMB930 million (US$151 million). 

This year the company is budgeting RMB1.3 billion (US$211 million) but after a great Chinese New Year told The Moodie Report it is confident of hitting RMB1.5 billion (US$244 million). 

 

29/09/15 By Jason Holland Source: The Moodie Report

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