Shiji’s Hotel Tech Acquisition Spree: A Closer Look

Shiji has been on an acquisition tear. A look at its financial filings shines a light on how the Beijing-based hospitality technology company has been spending its money abroad. But the strategy remains convoluted to some observers. Shiji has collected and built a set services for hotels and restaurants with a sprawling and seemingly unfocused ambition. Shiji has only a small foreign business. In 2018, it generated only $36 million in operating income outside of mainland China. That was merely 8 percent of its total operating income of $412.9 million (2.84 billion yuan). But Shiji has been investing abroad. Since January 2016, it has spent at least $141 million on acquisitions and equity investments in travel tech companies outside of China, according to Skift's review of its financial filings. Shiji Group Investments Outside China Company Investment Since January 2016 Ownership as of Today MyCheck $1 million* 100% Touchpeak $2.9 million 100% Co