Quhuo's Homestay Business Branch Established 'Chengtu Rural Residence' Brand to Deepen Presence in Homestay Industry
Portfolio Pulse from Benzinga Newsdesk
Quhuo Limited (NASDAQ: QH), a leading gig economy platform in China, has expanded its homestay business through its Chengtu Home division by launching 'Chengtu Rural Residence,' a new brand focusing on rural homestays. The initiative starts in Wuqing District, Tianjin City, and Beidaihe Village, Qinhuangdao, covering nearly 40 homes.
March 04, 2024 | 10:07 am
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Quhuo Limited has launched a new rural homestay brand, 'Chengtu Rural Residence,' through its Chengtu Home division, marking a significant expansion in the homestay industry.
The establishment of 'Chengtu Rural Residence' represents a strategic move by Quhuo to diversify and strengthen its position in the homestay market. This expansion into rural homestays could attract new customers and partnerships, potentially leading to increased revenue and market share. Given the company's leading position in China's gig economy and local life services, this initiative is likely to be well-received and could positively impact its stock price in the short term.
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