The drive to go-big-or-go-home has been replaced by a desperate effort to conserve cash just to survive.
Over 80 million Chinese are expected to enjoy their first vacation since coronavirus lockdown; Virus outbreak severely impacted China's image as a travel destination.
IHG expects Q1 Global RevPAR to decrease 25%, including a 55% decline in March.
Despite Chesky’s upbeat outlook, Airbnb’s moment has ended.
Same-hotel RevPAR growth continued to slow down in 2018-2019, reflecting oversupply in hotel market and intensified competition in greater accommodation industry with alternative lodging.
Parent of Chinese OTA Tongcheng-Elong denied speculation about mass layoffs; A study finds COVID-19 will dent China's total tourism income by a third this year.
Hong Kong's daily visitor arrivals declined to less than 100 persons in early April; Shanghai Disney is testing parade and more for reopening.
The report predicts 31 million tourists and USD2.3 billion in revenue during the upcoming five-day May Day holiday.
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