Online travel agency Trip.com clashes with tour operators as it seeks more control
>> Online travel agency Trip.com Group has been embroiled in a brouhaha with tour group operators on its platform since the company moved to take control of customer service and contracting and exert greater control over pricing. It’s a move that merchants say could give the travel giant a bigger cut of profits — but one that risks driving them into the arms of a growing number of alternative platforms.
Chinese hotel group Dozzen seeks IPO, backed by Meituan with a 20% stake
>> Meituan-invested Chinese hotelier Dossen International Group has filed for IPO on the Shenzhen Stock Exchange. Founded in 2007, Dossen is a hotel group headquartered in Guangzhou, China. The company has established a portfolio of 13 hotel brands ranging from economy to premium segments. Lifestyle and travel booking giant Meituan, the second-largest shareholder, has acquired a 20% stake in Dossen through a deal that valued the hotelier at RMB 5 billion (USD 775 million) last year.
eVTOL startups secure new funding rounds as flying cars heat up
>> As urban commute demand evolves and the concept of “air taxi” emerges, electric vertical takeoff and landing vehicles (eVTOL) are gaining popularity in recent years. Morgan Stanley Research estimated that the eVTOL market will create a USD 1.5 trillion market by 2040. Volant Aerotech, a Shanghai-headquartered company, announced that it secured nearly RMB 100 million (USD 15 million) in its Pre-A financing round in the first half of 2022, according to business media 36Kr.
Trip.com-backed OTA reports 1.2 million enrollments in loyalty program
>> India's biggest online travel group MakeMyTrip released latest 20-F filing recently. In fiscal year 2021, the online travel agency relaunched premier, invite-only “MMT Black” loyalty program with enhanced benefits. As of March 31, 2022, it had 1.2 million enrollments in MMT Black. The filing shows that Trip.com Group holds a 16.42% stake in MakeMyTrip's ordinary shares, 100% of its Class B shares, and 47.91% of voting power.
China to further communicate with more countries to increase overseas flights
>> China will enhance communication with countries to increase international flights during the second half of this year, an official from the Civil Aviation Administration of China (CAAC) said on Tuesday, as China relaxes inbound travel restrictions. A number of domestic and international carriers have resumed international flight services in recent days, with China Eastern Airlines, China Southern Airlines, Hainan Airlines and Xiamen Airlines announcing a resumption of international routes or increased frequency of flights.
China throws $1.6 billion lifeline to four Covid-hit aviation giants
>> China’s civil aviation regulator said it will inject a total of RMB 11 billion (USD 1.6 billion) into three state-owned airlines and an airport operator to help support the embattled sector, which has suffered badly due to the pandemic. This month, the number of daily flights has continued to stay above 10,000, rebounding to about 64.5% of that before the pandemic.
Hong Kong may allow conditional Covid-19 quarantine-free travel by November: health chief
>> Hong Kong's new health chief said conditional quarantine-free travel could be allowed by November in time for a global bankers' summit to be held in the city. The city does not need to follow the Chinese mainland’s Covid-19 policies because it enjoys some degree of freedom under the "one country, two systems" principle, Secretary for Health Lo Chung-mau said in a South China Morning Post report on Wednesday (July 13).