Alibaba: travel joint venture with Marriott International.
(CercleFinance.com) - Chinese Internet giant Alibaba said on Monday that it has reached an agreement with US hotel chain Marriott International to form a joint venture in the travel industry.
The joint venture will leverage Marriott International's portfolio as well as Alibaba's digital expertise to reach over 500 million mobile monthly active users.
According to the terms of the deal, Alibaba's Alipay will be accepted at Marriott hotels and Marriott's loyalty platform will be connected with Alibaba's large-scale consumer base.
As incomes rise, China's middle class is looking for more travel experiences, both companies said.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
The joint venture will leverage Marriott International's portfolio as well as Alibaba's digital expertise to reach over 500 million mobile monthly active users.
According to the terms of the deal, Alibaba's Alipay will be accepted at Marriott hotels and Marriott's loyalty platform will be connected with Alibaba's large-scale consumer base.
As incomes rise, China's middle class is looking for more travel experiences, both companies said.
Copyright (c) 2017 CercleFinance.com. All rights reserved.