Trip.com Group has unveiled a USD 500 million war chest to help its travel partners get back on their feet in the aftermath of the coronavirus pandemic.
The fund is part of the company’s Travel On initiative, which launched earlier this week and detailed some health and hygiene measures being put in place by different segments of the industry.
The Travel On fund aims to alleviate cash flow issues through commission waivers as well and reductions, small loans and other financial help.
In late May, Expedia Group announced a partner fund of USD 275 million to help hotels recover from the impact of COVID-19.
Much of Expedia's fund will be devoted to accommodation suppliers and take the form of a reduction in compensation and marketing credits.
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