It had signed contracts for direct connection with Airbnb, Ctrip-backed Tujia and Meituan-owned Zhenguo.
The acquisition of this potential competitor not only delivers complementary advantages for OYO, but gives OYO more leverage in its expansion in China.
Airwallex will use the investment to accelerate international expansion to empower marketplaces, online sellers and SMEs to grow their businesses.
Total revenues grew from RMB7.8 billion in 2014 to RMB31.1 billion (US$4.5 billion) in 2018, representing a compound annual growth rate of 41.4%.
In 2018, Stateside Adventures tripled the number of enrolled students year on year. The gross profit margin was nearly 50%, and the operating revenue was about RMB 30 million.
GreenTree said that "there will be potential collaboration opportunities between the two companies" in the mid-scale to upscale hotel segment.
The two partners are aiming to accelerate the roll-out of the powerful German travel technology and the expansion of the Leisure Travel Network in China.
The company secured a strategic injection from Ctrip in January this year. It also raised tens of millions of dollars from Tencent Investment, HNA Tourism Ventures and others in September 2017.
