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Expedia freezes China listings; ITB China 2020 postponed | Weekly Review

02/20/2020| 10:08:28 PM| ChinaTravelNews

China may see losses of USD 430 billion by the coronavirus disruption on travel for 2020; It plans cash injections and mergers to bail out aviation.

Expedia takes travel China listings amid virus outbreak

>> ChinaTravelNews learned on February 14 that Expedia’s Chinese website has taken down listings of hotels, flights and local tour offerings in mainland China.

An Expedia executive in charge of China market told ChinaTravelNews that the suspension was implemented as some countries had imposed travel restrictions to and from mainland China and that the company would gradually lift the suspension as the coronavirus outbreak came under control. 

Airbnb, Trip.com rise as global top channels for hotels

>> Hotel guest acquisition platform SiteMinder revealed its annual lists of the distribution channels that brought the highest booking revenue to hotels over the past year. Online channels like Airbnb and Trip.com rose on the global top list. Trip.com's rise over the past year is a testament to the value that Chinese travelers have had on Asian economies

China braces for $430 billion losses in travel

>> Losses for China’s travel industry may be up to 3 trillion yuan (USD 430 billion) for 2020, predicted Mr. Wu Bihu, director of the Tourism Research and Planning Center at Peking University.

Travel volume during this year’s seven-day Lunar New Year period plummeted nearly 63.9% to just 152 million.

Europe projects 7%-25% impact on Chinese arrivals

>> European destinations will see Chinese arrivals in the range of 7% and 25% lower in 2020 compared to the pre-crisis forecast, according to the European Travel Commission’s (ETC) latest quarterly ‘European Tourism Trends and Prospects’ report.

These impacts equate to between 1 million (most likely case) and 3.7 million (downside case) fewer Chinese arrivals in Europe this year.

China causes 60% of OYO's annual losses

>> India's six-year-old hotel startup OYO reported that its revenue in fiscal year 2019 rose 4.5 times to USD 951 million while net loss widened six times to USD 335 million. 

The China market generated revenue of USD 307 million during the fiscal year but posted USD 197 million in net loss, accounting for nearly 60% of the company's total loss for the year.

IHG expects a $5 million impact in China for February

>> InterContinental Hotels Group (IHG) said it expects a USD 5 million fee impact for February in China due to the disruption caused by the coronavirus outbreak, while the company generates full year fee revenue of USD 100 million there. 

The Greater China area represents around 30% of the company's global pipeline, but contributes less than 10% of IHG's operating profit.  

China to take over HNA Group, sell airlines

>> China plans to take over indebted conglomerate HNA Group and sell off its core airline assets in an effort to contain the economic fallout from the coronavirus outbreak.

The government of Hainan where HNA is based is in talks to take control of HNA and the airline assets could be taken over later by other local companies. 

ITB China 2020 postponed due to COVID-19

>> The ITB China organizers have announced to postpone ITB China 2020, originally scheduled to be held on 13 – 15 May at Shanghai World Expo Exhibition and Convention Center. 

The deferred show dates will be further announced by the show organizers. 

TAGS: ITB China | OYO | IHG | Weekly Review
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