Wenhuacheng District 1, Middle Beijing Road (Beijing Zhong Lu)

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  • How Chinese in Russia pries the China tourism trade from Russian companies’ hands2020-04-03

    Until a few months ago, roughly half of all foreign tourists in Russia were Chinese. Then, in January, Chinese tour groups vanished from the streets of Moscow and St Petersburg after Russia banned the entry of Chinese citizens following the coronavirus outbreak. The introduction of visa-free entry for Chinese tour groups in 2015 set off an explosion of Chin...
  • Chinese airlines revise international flight schedules after China orders flight cuts2020-04-03

    Chinese airlines have revamped their international flight schedules between late March and the beginning of May after the Civil Aviation Authority of China (CAAC) decided to limit the number of international flights coming in and out of China in an effort to curtail the increasing number of imported COVID-19 cases in China. Under the new regulations, starti...
  • Booking.com, Expedia and Trip.com drop contract clauses deemed a threat to competition2020-04-02

    Three major online travel agencies have offered to remove clauses in their contracts with accommodation providers that a Hong Kong watchdog investigation found could threaten competition and lead to higher prices for guests. The Competition Commission said that Booking.com, Expedia.com and Trip.com had agreed on favourable terms with businesses such as hote...
  • Travelers fleeing global pandemic bid for limited flights to China2020-03-29

    Airfares to mainland China soared in the past few weeks when the coronavirus crisis escalated from a regional outbreak into a global pandemic, as desperate travelers rushed for limited seats on the few carriers that were still flying to the country amid a widening circle of global quarantines and travel ban. The average price of air tickets from Italy, Spai...
  • Cathay Pacific scraps 96% of flights as virus stops travel2020-03-22

    Cathay Pacific will slash passenger capacity by 96% in April and May as the coronavirus shuts down travel across the world. The airline has already asked staff to take unpaid leave and warned that it faces a substantial loss in the first half of this year, with a HK$2 billion ($257 million) loss in February alone. It also said it would operate a “bare skel...
  • Upscale hotel group New Century reports a 144.1% jump in EBITDA2020-03-22

    Zhejiang New Century Hotel Management reported that its revenue for 2019 rose 7.2% to RMB1,928.0 million and that its EBITDA climbed 144.1% to RMB741.9 million. Gross profit was RMB565.0 million, up by 20.7%. Net profit was RMB205.0 million, 8.4% more than the previous year. The Chinese hotelier which is invested by Trip.com Group said earlier that it susp...
  • COVID-19 hits January passenger demand2020-03-08

    The International Air Transport Association (IATA) announced global passenger traffic data for January 2020 showing that demand (measured in total revenue passenger kilometers or RPKs) climbed 2.4% compared to January 2019. This was down from 4.6% year-over-year growth for the prior month and is the lowest monthly increase since April 2010, at the time of th...
  • Oaky raises $9.5 million in Series A funding2020-03-02

    Oaky, the #1 upselling platform, announces today that it has closed a $9.5 million Series A financing. PeakSpan Capital, a growth-stage investment firm focused on the B2B software arena with offices in New York and Silicon Valley, led the round. Oaky will use the funds to increase investment in product development, continued geographic expansion and team gro...
  • China pumps investment to projects in virus-hit cultural tourism2020-03-02

    China's top economic planner has allocated 5.7 billion yuan (about 814 million U.S. dollars) to support project construction in the cultural tourism industry that has taken a hard hit by the novel coronavirus outbreak. The investment will be used on 485 projects including protection facilities of national cultural and natural heritage and tourism infrastruc...
  • Marriot's RevPAR in Greater China drops 90% in February2020-02-29

    Marriot's RevPAR in Greater China dropsMarriott is the world’s largest hotel operator with 800 properties in the Asia Pacific region and roughly half in Greater China. China is also Marriott’s fastest-growing market, where it is building a number of new hotels. Leeny Oberg, EVP and CFO said openings could slow down due to the virus. At the end of 2019, M...

Wenhuacheng District 1, Middle Beijing Road (Beijing Zhong Lu)