** Shares of Wanda Hotel Development 0169.HK jump as much as 29% to HK$0.60, their highest since July 2019
** Stock on course to snap two straight sessions of declines
** Stock last up 11.8%, on track for the biggest one-day pct gain since March 24
** Tongcheng Travel 0780.HK said it had agreed to buy 100% stake in Wanda Hotel Management from Wanda Hotel Development for 2.49 bln yuan ($341.71 mln), as the online tourism services provider aims to expand into China's hotel management market
** Jefferies says the deal can further strengthen offerings satisfying the needs of different travelers segment with limited overlap in memberships, while both firms can generate synergies and benefit from respective strengths
** Tongcheng falls 12.1% to HK$19.56, the lowest since April 9
** Hang Seng Commerce & Industry Index .HSNC slips 0.2%, Hang Seng Index .HSI edges down 0.04%%
** YTD, Wanda Hotel stock up 104.9%, Tongcheng up 10.4%
($1 = 7.3082 Chinese yuan renminbi)
(Reporting by Donny Kwok)
((donny.kwok@thomsonreuters.com))
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