IHG starts flagship store on Trip.com Group; 70% of OYO hotels in China are now back to business.
Hotel occupancy in China reached over 40% during May 6-10 as business travel increased; Cathay Pacific flagged a “very bleak” outlook as coronavirus grounded planes globally.
Uncertainty in the market is creating the potential for owners, investors and private families to consider their position in the sector.
Chinese carriers are likely to see a full recovery by 2021; Beijing is mulling to cut red tape and fast-track cross-border checks with Taiwan, Hong Kong, Macao and South Korea.
As China stumbles back to normalcy, OYO too is seeing signs of recovery as compared to the shut business during the lockdown.
Booking.com, Expedia and Trip.com Group have vowed to remove their rate-parity contract terms with accommodation providers in Hong Kong.
The cooperation will allow over 300 million Ctrip members in Greater China to register with the IHG Rewards Club.
Qatar Airways said it was willing to provide equity injection into Cathay Pacific if approached; China is exempting some foreign executives from travel ban.
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