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...
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...
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, 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'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 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...
With spring right around the corner, one of the sectors hit the hardest by the novel coronavirus epidemic is gaining steam in its recovery. China's tourism industry is biding its time with multiple innovations and aid for a postponed high season.
As people choose to stay at home during the epidemic outbreak, the tourism industry, along with catering and out...
Talk of coronavirus overshadowed Hyatt Hotel’s strong finish to the year during Thursday’s quarterly earnings call.
CEO Mark Hoplamazian began by acknowledging the company’s staff in the Asia Pacific region, which he said is operating in “extraordinary circumstances and demonstrating a profound commitment to care for their families, for our guests and o...
Chinese travelers and businesses have expressed confidence in the development of the country's tourism industry, although it was hit hard by the coronavirus outbreak.
"China's tourism economy will prove strong resilience against the epidemic," Dai Bin, president of China Tourism Academy, said during an online conference Thursday....
The Universal Studios Beijing is expected to open to the public in May 2021 as scheduled despite the current Cobid-19 (coronavirus) outbreak, an official at the Beijing municipal government told a news briefing on Sunday (Feb 16).
Construction of the theme park, the fifth such Universal Studios in the world, is expected to be completed by the end of 2020, t...
