The company is expecting a 200 to 400 basis point decline in this year’s RevPAR.
For luxury travel agency Embark Beyond, almost 75% of travelers have canceled February and March departures to Southeast Asian countries.
It cut first-quarter Chinese jet fuel demand forecast by 14% or 125,000 barrels per day.
The lists reveal the fast-growing successes of both direct booking strategies for hotels and the growth strategies of the consolidation-hungry giants.
Travel volume during this year’s seven-day Lunar New Year period plummeted nearly 63.9% to just 152 million.
Travel advisers projected 10%-15% off in the $45.6 billion global cruise industry, major Chinese park operator warned of epidemic impact on $320 million asset-backed notes.
Bloomberg analyst said Hilton’s profit exposure to the coronavirus outbreak may be more moderate than that of cruise lines and Macau casinos.
The loan comes amid challenges to its business following the coronavirus that has claimed over 1,300 lives.
ChinaTravelNews is a wholly owned subsidiary of
©2019 TravelDaily Inc.