Home > > Trip.com Group buys OTA Travix; Tuniu receives Nasdaq compliance warning | Daily Brief

Trip.com Group buys OTA Travix; Tuniu receives Nasdaq compliance warning | Daily Brief

05/23/2020| 11:46:32 AM| ChinaTravelNews

The hotel sector is heavily impacted by COVID-19 and brands could lose up to USD 14 billion of cumulative brand value; China dismisses suspending applications for private passports as a rumor.

Trip.com Group acquires smaller OTA Travix

>> Trip.com Group bought Dutch online travel agency group Travix from corporate travel giant BCD Travel in December last year. The deal which was closed in April 2020 gave the Chinese travel titan an Amsterdam-based set of brands, including Vayama, Vliegwinkel, and CheapTickets.nl. Trip.com Group may have decided that it was easier to acquire Travix, which has loyal customers in niche segments than to compete with Travix via its Trip brand.

OTA receives listing compliance warning from Nasdaq

>> Chinese online leisure travel firm Tuniu said it received a notification letter from the Listing Qualifications Department of The Nasdaq Stock Market, indicating that for the last 30 consecutive business days, the closing bid price for the company's ADS was below the minimum bid price of $1.00 required for continued listing.

If Tuniu's share price is at least $1.00 for a minimum of ten consecutive business days before December 28, 2020, the Nasdaq will provide the Company written confirmation of compliance and the matter will be closed.

World’s top 50 hotel brands could lose $14 billion of value

>> The hotel sector is heavily impacted by COVID-19 and brands could lose up to 20% of cumulative brand value, equating to USD 14 billion, according Brand Finance. This year Hilton remains the world’s most valuable hotel brand, up an impressive 35%. Airbnb is the most valuable leisure & tourism brand with a brand value of USD 10.5 billion. 

China to list more key villages to promote rural tourism

>> China will list more key villages across the country to promote the rural revitalization as well as rejuvenation of the tourism sector, according to a circular jointly issued by the Ministry of Culture and Tourism and the National Development and Reform Commission on Wednesday. It will be the second batch of key rural tourism spots, while a total of 320 villages were initially designated as national-level key spots last year.

China dismisses suspending applications for private passports as rumor

>> The report that China is suspending applications for private passports recently circulating on social media, and raising public concerns over further restrictions on outbound travel, has been dismissed by the exit and entry administration departments. 

TAGS: Daily Brief | Trip.com Group | Tuniu
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