Alibaba and Marriott International signed the contract

China’s Alibaba started cooperation with the US biggest hotel chain Marriott International to tap into the growing number of Chinese citizens who travel abroad. The joint venture will allow Chinese travelers to book rooms at Marriott hotels via Alibaba Group’s travel service platform – Fliggy. Tourists will be able to pay for booking using Alibaba’s online payment platform – Alipay. The joint venture will have a positive impact on Alibaba’s shares.

Over the past week, Alibaba’s shares rose 5,5% and continue gaining. The trade will be available during American session, from 13:40 till 20:00 GMT.

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