SHANGHAI and HONG KONG, Aug. 29,
2016 /PRNewswire/ -- Ocean Link, the first private equity
firm focused on the fast-growing travel and tourism sector in
China, today announced its
strategic partnership with Ctrip, the largest online travel agency
in China, and General Atlantic, a
leading global growth equity firm.
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Founded in early 2016, Ocean Link deploys both RMB- and
USD-denominated funds to invest strategically and selectively
across the broad value chain and sub-verticals of the travel and
tourism industry in China
including hotels and resorts, attractions, online and offline
travel agencies and operators, transportation services, and related
business solutions providers.
The firm's initial investments include eLong, a leading mobile
and online travel agency in China,
Mind Education, a leading provider in China of educational tours and summer camps,
Joint Wisdom, a full solution data analytics services provider for
China's hotel industry, and Ruby
Hotels, a Europe-based hotel chain
leading the "lean luxury" concept with expansion plans to
Asia.
As a result of the new strategic partnership, Ctrip and General
Atlantic both have the right to appoint a director to the board of
Ocean Link.
"The travel and tourism sector in China is at a pivotal period of growth. The
industry's ongoing transition will provide Ocean Link with ample
opportunities to bring capital and operational expertise to
innovative companies serving the rising number of travelers in this
market. Leveraging the insights and experience of Ocean Link's
investment team and the support from Ctrip and General Atlantic, we
will aim to identify attractive investments in the rapidly
expanding travel and tourism sector," said Mr. James Liang, Co-Founder, Chairman, and Chief
Executive Officer of Ctrip, who lends his industry insights after
founding Ctrip in 1999, now the largest online travel agency in
China providing accommodation
reservation, transportation ticketing, packaged tours, and
corporate travel management.
"General Atlantic is pleased to bring our global expertise and
deep experience working with growth companies to our partnership
with Ocean Link and its portfolio companies. By combining the
team's deep local reach and extensive industry experience with
General Atlantic's strong investment acumen and proven track record
of success, we believe Ocean Link is well positioned to capture
China's growth in this industry,"
said Mr. Eric Zhang, Managing
Director and Head of China at
General Atlantic, who offers more than 15 years of investing
experience in China across
numerous sectors, including travel and tourism, retail and
consumer, and internet and technology. General Atlantic has been
investing in China since 2000.
Furthermore, the firm has partnered with several leading global
companies operating in the travel and tourism sector including
Airbnb, Aimbridge Hospitality, Decolar, FlixBus, IBS, Priceline,
Smiles, and Uber.
"As increased consumption and changing consumer habits continue
to shift China's economic
landscape, there is an immense opportunity for the travel and
tourism sector to evolve. We are excited to welcome our strategic
partners, Ctrip and General Atlantic, which bring strong
investment, sector, and operational expertise to our business and,
most importantly, to our portfolio companies," said Mr.
Tony Jiang, Partner of Ocean Link,
who has over a decade of investment experience in the travel and
tourism sector. In addition to leading investments in Ocean Link's
current portfolio, he has been previously involved in investments
in New Century Kaiyuan Hotels, Crystal
Orange, and Plateno Hotels Group. Prior to Ocean Link, Mr.
Jiang served as a director at The Carlyle Group in Shanghai and Hong
Kong.
"As Chinese entrepreneurs seek capital from investors who truly
understand their businesses, Ocean Link is uniquely positioned to
be a partner of choice. Our focus on the travel and tourism sector
enables us to provide differentiated industry and operational
capabilities to help create value for high quality companies across
the sector ecosystem," said Mr. Zheng, Partner of Ocean Link, who
brings over 20 years of travel and tourism experience, serving in
leadership positions within the hotel, online travel agency, and IT
solution sub-sectors. In addition to his role at Ocean Link, Mr.
Zheng concurrently serves as Co-Founder, Chairman, and Chief Brand
Architect of Plateno Hotels Group, one of China's leading hospitality groups, which he
co-founded in 2005.
China's tourism sector has
grown steadily over the past decade as Chinese nationals increase
their travel both in and out of the country. According to data
released by the China National Tourism Administration earlier this
year, from 2014 to 2015, the total number of Chinese residents
travelling domestically rose 10.5% to 4 billion, while the total
number of Chinese residents travelling internationally rose 12% to
120 million. In addition, the total number of Chinese residents
travelling internationally is expected to double from 120 million
in 2015 to 220 million in 2025, according to Goldman Sachs Global
Investment Research from November
2015.
About Ocean Link
Ocean Link is the first independent private equity firm that
focuses on the growing travel and tourism sector in China. Founded in 2016, Ocean Link's team of
professionals in Shanghai and
Hong Kong, combine investment
acumen and industry expertise to identify opportunities along the
broad value chain and sub-verticals of the fast-expanding travel
and tourism sector. The firm deploys both RMB- and USD-denominated
funds as part of its investment strategy. For more information
visit www.oceanlp.com.
About Ctrip.com
Ctrip.com International, Ltd. is a leading travel service
provider of accommodation reservation, transportation ticketing,
packaged tours, and corporate travel management in China. It is the largest online consolidator
of accommodations and transportation tickets in China in terms of transaction volume. Ctrip
enables business and leisure travelers to make informed and
cost-effective bookings by aggregating comprehensive travel related
information and offering its services through an advanced
transaction and service platform consisting of its mobile apps,
Internet websites, and centralized, toll-free, 24-hour customer
service center. Ctrip also helps customers book vacation packages
and guided tours. In addition, through its corporate travel
management services, Ctrip helps corporate clients effectively
manage their travel requirements. Since its inception in 1999,
Ctrip has experienced substantial growth and become one of the
best-known travel brands in China.
www.ctrip.com
About General Atlantic
General Atlantic is a leading global growth equity firm
providing capital and strategic support for growth companies.
Established in 1980, General Atlantic combines a collaborative
global approach, sector-specific expertise, long-term investment
horizon, and a deep understanding of growth drivers to partner with
great management and build exceptional businesses worldwide.
General Atlantic has more than 100 investment professionals based
in New York, Amsterdam, Beijing, Greenwich, Hong Kong, London, Mexico
City, Mumbai, Munich, Palo
Alto, São Paulo, and Singapore. www.generalatlantic.com
Media Contact
Elizabeth Xu
Edelman for Ocean Link
+86-10-5676-8715
elizabeth.xu@edelman.com
Luna Hu
Edelman for General Atlantic
+86-10-5676-8747
luna.hu@edelman.com
Kara Brickman
Edelman for General Atlantic
+1-917-966-0999
kara.brickman@edelman.com
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