Qunar buys into travel agency

Chinese travel site qunar.com has invested an undisclosed amount in Traveling Bestone, a major travel agency in the country, said a joint announcement on Thursday.

The investment is the largest meted out by Qunar so far, according to the announcement, which did not reveal the exact investment or stake purchase details.

The partnership which is set to give Qunar access to more than 3,500 mortar-and-brick outlets owned by Traveling Bestone was unveiled after Qunar reported stronger-than-expected revenues for the third quarter ended September 30.

Its total revenues for the third quarter registered $81.6 million, a jump of 107.8 percent year-on-year, according to the NASDAQ-listed firm's quarterly disclosure released on December 1.