Tujia, China's Airbnb, has raised $300 million at a valuation of more than $1 billion led by All-Stars Investments. With currently 300K listed properties, the company is focused on expanding its services into Asian destinations popular with Chinese travelers, with target markets include Thailand, Indonesia, South Korea, Taiwan and Hong Kong. Tujia has faced less regulatory hurdles as it pays hotel levies as well as taxes on the rental income on behalf of property owners.
Tujia, which means “home on a journey,” is focusing on expanding its services into Asian destinations popular with Chinese travelers, Melissa Yang, the co-founder and chief technology officer, said in an interview. Tujia expects to list 400,000 to 500,000 properties for rent by year’s end, from more than 300,000 now, she said. “We are speeding up our expansion to meet the demands of Chinese tourists,” Yang said Monday by phone. “Southeast Asia is a destination favored by Chinese tourists and so that’s an area of focus for us.”