Foreign hotel companies are setting up their flagship stores on Ctrip and Fliggy, and looking at them as a way to let locals shop in a way they are accustomed to.
Mr. Siew served as Airbnb's interim head of China in 2017 as Mr. Hong Ge, the company's China chief at the time, resigned after allegations about inappropriate personal relationship.
Tuniu has not been profitable for the past six years as a public company. As of June 26 this year, the company's market capitalization was around USD 140 million.
Hoteliers and revenue managers must rethink their commercial strategy to navigate the new normal.
Shiji gained three months to sell its U.S.-based asset StayNTouch; Trip.com Group unveiled a USD 500 million fund for its travel partners.
Revenues from air ticketing and hotels & packages posted declines of 14% and 18.3% respectively. But the company's bus ticketing business still saw an increase of 21%.
China remains the single largest country with some 11.9 million scheduled flight seats last week; Accor worked with Ctrip, Fliggy, Meituan and WeChat to capture domestic demand in China.
Live streamers need to offer popular and quality products at heavily discounted prices, but that may pose a dilemma between increasing demand and maximizing profitability.