The conglomerate has been weighed down by debt worth billions of dollars and has frequently delayed its bond payment commitments.
IHG’s first voco signing in Wuhan is a conversion property, which will be officially rebranded as voco Wuhan Xinhua in 2021.
Airlines have increased capacity to meet rising demand, but ticket prices are still low due to the pandemic.
Huazhu prices global offering at HKD 297 to raise around USD 783 million; Alibaba may invest in Grab to bolster its business in Southeast Asia.
Now under the same CEO, the two companies are in a better position to explore new opportunities.
Of the five-star segment, the resorts were reporting an average occupancy rate of 80% for the Golden Week period.
Working closely with Grab would enable Alibaba to strengthen its e-commerce operations in SEA and build a broader payments and commerce ecosystem, like WeChat Pay has in China.
MakeMyTrip founder Deep Kalra is a big believer in “revenge travel”.
ChinaTravelNews is a wholly owned subsidiary of
©2020 TravelDaily Inc.