Ctrip invites funds to buy out China’s travel dip
>> Trip.com, best known as Ctrip, is inviting brave funds to buy out China’s tourism dip. The country’s biggest online travel outfit is considering going private. U.S.-China relations and Covid-19 have conspired against USD 16 billion Ctrip, forcing it to consider winding down a 17-year run as a U.S-listed company. If successful, it would be the largest-ever take-private of a New York-traded Chinese firm.
Video sharing app challenges Ctrip and Meituan in their stronghold
>> The “Ticket Booking” and “Hotel Booking” functions that are the core business of Trip.com are now available within video-sharing app TikTok’s own verified merchant account page, enabling a complete consumer journey from inspiration to transaction. Boasting 400 million daily active users, TikTok will intensify the on-going fierce competition in the lifestyle services market.
Skyscanner offers tourist boards free advertising slots
>> Skyscanner is offering tourist boards free advertising placements as part of a global advertising initiative. The flight search aggregator is hoping to encourage travelers back to the destinations that take it up on the offer as part of its efforts to support the travel industry’s recovery. So far, 20 tourist boards have signed up to Destination Connect initiative including Brand USA, Tourism Western Australia, Dubai Tourism and Visit Turkey.
China outbound tourism expected to recover in 6-12 months
>> The latest travel trends report by ITB China has examined the impact the coming recovery phase will have on the planned travel behaviour of Chinese outbound tourists, with the largest group of those surveyed expecting recovery in this market in 9-12 months. When asked about the recovery of the Chinese outbound travel market, 43% of those surveyed expect that outbound travel will recover within the next nine to 12 months. 33% think it might take six to nine months.
Japan, China agree to work toward resuming travel
>> Japanese Foreign Minister Toshimitsu Motegi and his Chinese counterpart Wang Yi agreed to work promptly toward resuming mutual travel, which has stalled due to the novel coronavirus pandemic. China is among a group of countries for which Japan is considering easing its travel ban as the Japanese administration looks to balance economic recovery with containing the coronavirus. The travel ban is currently in place for 146 countries and regions, with foreign travelers who have been to any of them within 14 days of arriving in Japan being refused entry.
Cathay to park one-third of planes abroad to cut costs
>> Cathay Pacific said it will transfer a third of passenger aircraft from Hong Kong in the coming months, the latest move to economize amid the Covid-19 crisis. The carrier said the first batch of aircraft will land at Alice Springs in Australia for storage, and it is in discussion with facilities in other suitable locations. Cathay Pacific and Cathay Dragon operated combined 182 passenger aircraft by December 31 last year. A third of aircraft means around 60 planes will be moved out of Hong Kong.
Wyndham's Q2 RevPAR declines 48% in Greater China
>> For the second quarter of 2020, Wyndham saw a 54% decline in comparable RevPAR globally, and a 48% drop in Greater China comparable RevPAR. Global revenues for the quarter declined to USD 258 million in the second quarter of 2020, compared with USD 533 million in the second quarter of 2019.