In 2018, the global tourism industry was worth $1.7 trillion. Europe’s combined tourist spending dominates at $570 billion.
MakeMyTrip will have to pare back an operating loss of nearly $43 million in a matter of three to four quarters.
The deal comes a year after Yanolja invested USD 15 million in Zen Rooms, with the right to fully acquire the latter in the future.
Sabre expects Radixx will generate about $20 million of revenue in 2019.
There are still well-documented bumps on the road to quality and branding in alternative accommodation.
Hoist Group has acquired HotelEngine, a Finland-based online booking tech specialist.
73 percent of travel buyers say Millennials demand different, more consumer-like tools out of their company’s travel program.
Klook processed $1 billion in bookings last year.
ChinaTravelNews is a wholly owned subsidiary of
©2019 TravelDaily Inc.