Ctrip.com Initiates Travel Insurance Fund

After the blizzard affected the travel routes in several Chinese provinces, local Internet travel service provider Ctrip.com has launched a travel guarantee fund for major natural disasters.

CNTA Funds RMB20 Million To Snow Disaster Areas

Wang Zhifa, deputy director of the China National Tourism Administration, said that CNTA is using its RMB20 million tourism development fund as a contingency fund for renewing tourism facilities damaged in snow disaster areas in recent days.

Lai Sun Development Sells More Hotel Shares To China Construction Bank

Following its acquisition of a 40% shareholding in The Ritz-Carlton, Hong Kong last November China Construction Bank will pay the Lai Sun Development Company HK$417 million for an additional 10% holding in the hotel. As a result, China Construction Bank and Lai Sun Development will each hold 50% of the shares in the hotel.