It seems that China’s online travel and accommodation industry is still feeling the heat from the Golden Week. China’s home rental unicorn Tujia.com, often dubbed the Airbnb of China, announced today that it just completed a $300 million Series E for its online arm at a valuation of over $1.5 billion. The current round marks the first independent financing for Tujia’s online unit since the separation of online and offline departments earlier this year.

Existing investors of Ctrip and All-Stars Investment lead the round. Several new investors participated, including China Renaissance’s New Economy Fund, Glade Brook Capital, an investor in Airbnb and Uber, and G Street Capital.

The fund gives Tujia a lot of firepower in China’s increasingly crowded homestay market. The US sharing economy darling Airbnb doubled down on Chinese market this year with new China head and a Chinese name. There have been rumors that Airbnb is in talks with Tujia and another local apartment rental platform Xiaozhu on capital cooperation.

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Emma Lee

Emma Lee is Shanghai-based tech writer, covering startups and tech happenings in China and Asia in general. We are looking for stories related to tech and China. Reach her at lixin@technode.com.