The China market generated USD 307 million in revenue for OYO in FY2019, but also posted a net loss of USD 197 million, accounting for nearly 60% of the company's total annual loss.
IHG starts flagship store on Trip.com Group; 70% of OYO hotels in China are now back to business.
Public DMO is already a small but serious market segment.
The company had to lay off an undisclosed number of people a month ago due to the crisis.
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.
90% of respondents will prioritize domestic destinations—including short-to-medium distance trips (43%), the city’s immediate surroundings (24%) and long-distance trips (23%).
According to the results of surveys conducted by OAG, McKinsey and Ctrip, most people are ready and willing to have leisure travels. However, business travel will still be challenged.
Booking.com, Expedia and Trip.com Group have vowed to remove their rate-parity contract terms with accommodation providers in Hong Kong.
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