Some 850 top travel buyers will be accepted to attend ITB China – maximizing the business opportunities for ITB China exhibitors and buyers by getting access to exclusive matchmaking system.
Reuters reported on Tuesday that China’s Meituan-Dianping may hold an IPO in the US as soon as next year to raise at least $3 billion, only to be denied by Wang Xing, CEO of Meituan-Dianping.
Numerous players want a piece of China’s exploding outbound travel business. That means investments in western assets.
Expedia, TripAdvisor and Priceline have seen shares dip after third-quarter earnings reports, in part because the companies seem to be planning an increase in advertising spending.
Priceline plans to ramp up brands marketing spending on TV and reduce digital marketing spending. Estimation shows Priceline’s digital ad spend in 2017 could reach $4.3 billion.
300 million international arrivals were made in July and August, and 901 million international tourist arrivals for the first eight months, according to the United Nations World Tourism Barometer.
Priceline Group reported gross travel bookings growth of 19% to $21.8 billion in the third quarter of 2017. Gross profit grew 22% to $ 4.4 billion and net income rose 240% to $1.7 billion.
Total revenue in the third quarter increased 4% year-over-year to $439 million, and non-hotel revenue grew 26% year-over-year, led by growth in Attractions and Restaurants.
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