Wanda Group's Beijing Wanda Tourism Investment Co Ltd held a signing ceremony and press conference for its acquisition of Qingdao China Youth Travel Service Co Ltd at the Le Meridien Wanda Hotel in Qingdao on July 30.

Qingdao China Youth Travel Service, one of China’s top 100 travel agencies, has become the Group’s sixth travel agency acquisition since its entry into the tourism industry. Following the acquisition, The Qingdao travel agency will change its name to Shandong Wanda International Travel Agency Co Ltd.

The new company will greatly expand its business along with the opening of the Qingdao Oriental Movie Metropolis, serving as the project’s integrated service, marketing and sales support arm. The Qingdao Oriental Movie Metropolis is expected to attract over 20 million tourists annually.

The acquisition marks the expansion of Beijing Wanda Tourism Investment’s workforce to over 2,000 staff.