Alibaba, Marriott in JV for travel benefits

Alibaba Group Holding Ltd, China's e-commerce behemoth, and Marriott International, the world's largest hotel company, on Monday announced a new joint venture to streamline and upgrade the travel experience for hundreds of millions of Chinese tourists.

Leveraging the e-commerce titan's knowledge of Chinese consumer preference in the digital space, the new venture will deliver VIP travel packages, exclusive benefits to each company's membership clubs, as well as personalized trip-planning services, the companies said at a joint news conference in Shanghai.

"Together, we are elevating and redefining the travel experience for Chinese consumers to be more seamless and personalized as they embark on adventures to discover the world," said Daniel Zhang, CEO of Alibaba.