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Huazhu's net revenue rises 8.5%, same-hotel RevPAR down by 5.4%
Huazhu is expected to close 350-450 hotels, including planned closure of 300-350 hotels and special closure of 50-100 hotels impacted by COVID-19.
Fosun Tourism raises $988M; Forward bookings in China show dramatic rebound | Daily Brief
Chinese tourist arrivals to Japan dropped 87.9% in February; Hainan government announced a USD 21.2 million rejuvenation plan for the island’s beleaguered tourism industry with duty free shopping at the heart.
OTA chief cuts salary; event cancellations cost $1B | Daily Brief
The direct economic loss from the cancellation from nine major tech conferences already surpassed USD 1 billion; A Disneyland Paris maintenance worker tested positive for coronavirus.
Corporate travel to take a $560B hit; searches for flights up 138% | Daily Brief
China allocated USD 814 million to support project construction in the cultural tourism industry; Singapore Airlines is cutting pay for management staff.
HNA Group asks Chinese government for help as liquidity risks rise
Parent group of Hainan Airlines asked local provincial government to help resolve its liquidity risks.
Genting Dream deal secures USD 900 million
Part of the funds was used for repayment of the outstanding balance of approximately USD 502 million.
Companies halt operations, restrict corporate travel to China
Major global corporations have announced to shut down respective operations until further notice and banned employees from traveling to China.
France has seen a 30% to 40% fall in tourists following the coronavirus outbreak
France is one of the most visited countries in the world, and tourism accounts for nearly 8% of its GDP.
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2021 trends in Chinese outbound tourism
Macau has no guess on holiday visitors; China eyes full rebound of air travel | Daily Brief
Shiji Group continues global expansion with growing presence in Latin America
Trip.com eyes $1 billion second listing; China debuts a new bullet train | Daily Brief
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