Quhuo has announced plans to further develop its businesses across various industries, including the homestay sector. The company aims to expand its homestay business to rural areas, which comes in line with Quhuo’s long-term strategy and the country’s national development direction. As part of its expansion plan, Quhuo has sealed a deal through its affiliated entity, Chengtu Home, a bed and breakfast brand in the country, to invest approximately RMB 10M, or $1.45M in a vacation resort project in Haidong village, a rural village in Harbin city of Heilongjiang Province. The investment reflects Quhuo’s overall strategy to integrate capability and resources from all its business lines as well as from its strategic partners to further develop the Company’s business offerings in key verticals. With the investment, Chengtu plans to renovate over 40 houses at Haidong and commence the construction of the resort in April. According to the business plan, all the refurbished houses at the resort site will be up for sale, and buyers will have the options to live in the properties by themselves, rent the houses out, or commission Chengtu to make them guesthouses and generate higher value-added returns. Quhuo’s move to revamp the village comes in line with the company’s vision to help revive local economies, especially in rural areas across the country, diversifying its home rental offerings on top of listings in urban cities. Chengtu has received wide praise for its management of B&B properties.
Published first on TheFly
