The proceeds will be used primarily to boost China Southern’s core air transport business, and “in line with the Belt and Road Initiative and the Guangdong-Hong Kong-Macau Greater Bay Area strategy”.
OYU hotels offer average rooms rates ranging from US$19 to $34 per night. The group aims to have a total of 2,500 hotels by the end of this year.
Fliggy has launched a new service allowing people to purchase air tickets by installment with zero down payment, which helps to lower the financial threshold for young people to travel the world.
The total profit of the sector fell 2.4 percent to CNY31.6 billion (USD4.6 billion) in the first half of this year.
Japan introduced a new departure tax of JPY1,000 (USD9.20) at the beginning of the year, applicable to all travelers leaving the country, but this has done little to dent tourism numbers.
In the four-week period from June 16 – July 13, flight bookings to Hong Kong from Asian markets fell by 5.4% on the equivalent period last year.
Marriott has 310 deals signed for new properties in China. Marriott currently operates 346 properties in the country.
Of its USD600 million investments in China, USD100 million will go to recruitment, customer experience, quality and systemic improvements to promote Oyo's further growth.
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