Qunar Announces Organizational Realignment
September 21 2015 - 8:46PM
Qunar Cayman Islands Limited (NASDAQ:QUNR) ("Qunar" or the
"Company"), China's leading mobile and online travel platform,
today announced an organizational realignment designed to
establish, elevate and empower three key business groups in support
of the Company's strong growth trajectory. The realignment reflects
Qunar's commitment to building strong business groups and
supporting a corporate culture that is agile, innovative and
entrepreneurial.
The Company has created a new Travel SaaS Platform group that
will be led by Mr. David Yongqiang Wu, who has been named Executive
Vice President of the Company and CEO of the newly established
group. Qunar offers open platform services and SaaS systems to
travel service providers in China, focusing in the near term on
supporting our hotel partners, and plans to further expand its
offerings to all online and offline players in the market through
this business group. Mr. Wu was previously Qunar's CTO, and in his
new role, he will continue to oversee Qunar's technology and
product development and will continue to carry out the Company's
strategy of becoming the technology backbone for the entire travel
industry in China.
The Company also announced today the elevation of the Hotels
Business Unit into the Luxury and Overseas Hotels group which will
be headed by Ms. Denise Xiaomei Peng, who has been named Executive
Vice President of the Company and CEO of the group. Luxury
hotels with a rating of 4 stars or above contributed a significant
portion of Qunar's total hotel volume in Q2 2015, now up
to around 5 million room nights, more than tripling the volume
for the same period last year. Ms. Peng was previously Qunar's COO,
in her new role, she will oversee the Company's continued effort in
further expanding and deepening relationships with luxury hotels
and hotel groups, further driving Qunar's share gain in the
high-end market, and the expansion into international markets.
Additionally, Mr. Qiang Zhang, formerly a Vice President
responsible for the Company's product sourcing efforts, has been
named Executive Vice President of the Company and CEO of the Travel
Destinations group. This group will continue to spearhead Qunar's
efforts in further penetrating the mass market hotel sector and
expanding Qunar's market leadership in this sector. Since joining
Qunar in January 2014, Mr. Zhang has overseen the rapid expansion
of Qunar's hotel direct coverage network, which reached around
280,000 hotels by the end of Q2 2015, up from around 80,000 at the
beginning of 2014. The hotel direct segment contributed 79% of
Qunar's 17.8 million total hotel room nights stayed in Q2 2015, and
has been a major driver behind the Company's 145% year on year
hotel volume growth.
Mr. Wu, Ms. Peng and Mr. Zhang will report directly to Chenchao
(CC) Zhuang, Chief Executive Officer and co-founder of Qunar.
"The creation of and commitment to these business units, headed
by proven leaders, will better position the company to more nimbly
and effectively maximize opportunities in our key, high-growth
verticals," said Mr. Zhuang. "This new organizational structure
better supports our strategic priorities and enhances our
capabilities by placing more authority in the individual business
units. We look forward to David, Denise, and Qiang's continued
contributions in their new roles and are confident they will bring
our travel business to new heights."
Qunar also announced today the transition of Mr. Sam Hanhui Sun,
President of the Company to a non-executive senior advisor
role.
"We want to give our heart-felt thank you to Sam for
his tremendous contributions to Qunar over the last 5 years," said
Mr. Zhuang. "We look forward to his continued support of Qunar in
his new role as a non-executive senior advisor."
Forward-looking Statements
This announcement contains forward-looking statements. These
statements are made under the "safe harbor" provisions of the U.S.
Private Securities Litigation Reform Act of 1995. These
forward-looking statements can be identified by terminology such as
"will," "expects," "anticipates," "future," "intends," "plans,"
"believes," "estimates," "confident" and similar statements. Among
other things, quotations from management, as well
as Qunar's strategic and operational plans, contain
forward-looking statements. Qunar may also make written
or oral forward-looking statements in its periodic reports to
the U.S. Securities and Exchange Commission, in its annual
report to shareholders, in press releases and other written
materials and in oral statements made by its officers, directors or
employees to third parties. Statements that are not historical
facts, including statements about Qunar's beliefs and
expectations, are forward-looking statements. Forward-looking
statements involve inherent risks and uncertainties. A number of
factors could cause actual results to differ materially from those
contained in any forward-looking statement, including but not
limited to the following: the Company's goals and strategies; its
future business development, financial condition and results of
operations; the expected growth of the online travel markets in
China; the Company's expectations regarding demand for and market
acceptance of its products and services; its expectations regarding
relationships with users and travel service providers; the business
cooperation agreement with Baidu; its plans to invest in the
technology platform; competition in the industry; fluctuations in
general economic and business conditions in China; and relevant
government policies and regulations relating to the industry.
Further information regarding these and other risks is included in
the documents filed with the U.S. Securities and Exchange
Commission. All information provided in this announcement is as of
the date of the announcement, and Qunar undertakes no
duty to update such information, except as required under
applicable law.
About Qunar
Qunar is China's leading mobile and online travel platform. With
a commitment to building a travel ecosystem serving the entire
travel industry value chain, Qunar is evolving the way people
travel in a world increasingly enabled by technology. Qunar
addresses the needs of Chinese travelers and travel service
providers by efficiently matching industry supply and demand
through its proprietary technologies. By providing technology
infrastructure for travel service providers on mobile and online
platforms, Qunar integrates and offers the most comprehensive
selection of travel products and the most convenient means to
complete desired transactions for Chinese travelers.
Qunar means "where to go" in Mandarin Chinese.
For more information, please visit http://ir.qunar.com.
CONTACT: For investor inquiries, please contact:
Xiaolu Zhu
Investor Relations
Qunar Cayman Islands Limited
Tel: +86-10-5764-6223
Email: ir@qunar.com
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