Hong Kong reported a massive decline in hotel demand at 28.8% with average occupancy for August dropping 29.8% to 63.9%; competition increased as hotel supply rose 1.5%.
Shenzhen Airport reported an increase of 9.2% in passenger traffic in August while Hong Kong airport said it handled 12.4% fewer passengers in the month compared to the same period last year.
Chinese travelers have booked trips to tourist destinations in 88 countries and regions, with Japan, Thailand, Malaysia, Russia and Indonesia among the top outbound destinations.
The $52 million of mark-to-market net unrealized losses would equate to 26% of American Airlines' original $200 million investment in China Southern made two years ago.
China is the world's second largest cruise market by passenger volume and about 63 percent of the Chinese cruise market comes from Shanghai.
“When you have direct relationships with airlines there’s a lot more you can do around ancillaries and NDC Iata’s [New Distribution Capability]."
T-Bird acquired Shanghai Haiyou to integrate resources and make the pie of customized travel bigger. More potential acquisitions are said to be in the pipeline.
Air China operates most flights and are growing fastest with 43% more flights this summer.
ChinaTravelNews is a wholly owned subsidiary of
©2019 TravelDaily Inc.