High-end hotels are struggling as occupancy rates plummet. Staff are being forced to take leave in what is normally city’s peak season.
Most major hotel companies reported softer revenue-per-available-room growth in China during the second quarter because of the ongoing U.S.-China trade war as well as protests in Hong Kong.
Ctrip holds nearly half of the Indian online travel firm after this acquisition.
Net profit increased 1.4% to RMB 80.9 million.
The Global Class ships have been designed for the fast-growing Asian cruise market, which will see the largest increase in the number of middle-income households in the world over the next decade.
The circumstance may add another tailwind to the luxury market in Bangkok, where a tourism boom has put the city on the map for investors, especially mainland Chinese who have come in droves.
All together generating tourism revenue of RMB 2.78 trillion, up by 13.5% over the same period of last year.
Their overall spending went from double digits to a 4% increase in 2017, and a 2% drop last year.
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