Club Med of Fosun Tourism speeds up recovery in Asia Pacific; ForwardKeys predicts China outbound travel to rise over 80% in 2022.
Other than the capital investment, the two companies vowed to strengthen their cooperation in product, technology, membership, central reservation and platform construction.
As of the end of 2020, the capacity of Club Med in Asia Pacific is expected to return to nearly 70% of the same period in the last year.
Tongcheng-Elong’s products, including hotels and tourist attraction ticketing, will soon be available for direct purchase on the Kuaishou app.
China is much closer to recovering hotel ADR than Europe, US; China Eastern works with Juneyao Airlines, China Telecom to offer in-flight Wi-Fi.
Supply growth in China slowed this year even after demand improved toward pre-pandemic levels. Europe and the U.S. will likely experience a similar trend.
Those not willing to embrace will no longer be able to rely on brand loyalty or relationships alone.
Hilton CEO said China is second-largest market, key part of growth strategy; Alibaba-invested mobility platform Hellobike applies for hotel-related trademark.
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