Hotel occupancy rates that averaged 90% in the first half will fall by a third or more and that arrivals from the mainland to Hong Kong, a key shopping destination for Chinese, could slow to a trickle.
For the first time since 2016, STR data shows mainland China supply growth outpacing demand growth, leading to occupancy declines.
Comparable revenue per available room flattened off to 0.1% from the 0.3% seen in the first quarter.
Airbnb’s disruptive power stems from its ability to identify and meet evolving customer needs, not its technology.
RCI, the world's largest vacation exchange network as part of Wyndham Destinations, announced it has acquired travel technology platform Alliance Reservations Network (Alliance) for $92 million.
Since 2016, Shiji has spent $141 million on acquisitions and investments across 10 tech companies outside of China.
Marriott announced plans for two new resorts that will cost more than $800 million combined to build.
It is aiming to close the deal in August, which will be its first Korean acquisition in five years.
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