Strategic investment · Travel tech
New Oriental invests in Backpacking Ten Years
The hostel operator and tourism investor plan joint travel products for younger travellers.
Backpacking Ten Years announced strategic investment from New Oriental on September 29. The financing was described as tens of millions of renminbi, with the exact amount undisclosed. New Oriental’s Zhuhai cultural-tourism investment company is the investor.
The partners plan to develop travel products and improve guest experiences using the hostel network’s young audience and shared social spaces. The collaboration links accommodation with cultural activities and travel content.
Use of funds
Travel-product collaboration
Guest experience
Funding history
Strategic investment · This roundUndisclosed