In 2020, Jin Jiang had around 13% of its revenue from overseas markets, down from the 20% overseas share in 2019.
Many hoteliers are continuing with shortsighted budgeting decisions in 2021, without considering the long-term implications.
Singapore, China are discussing travel resumption; Hong Kong’s travel bubble hopes for Singapore, Australia depend on pandemic control, vaccination.
The hotel brand is owned by Fosun Tourism following its acquisition of the Thomas Cook brand for £11 million at the end of 2019 and is targeting a ‘new generation of travelers’.
State-owned travel conglomerate CTII posts 56% drop in revenue; Singapore mulls over launch of air travel bubble with Hong Kong.
Markets including New York, Toronto and Beijing all have significant declines in both active and available listings, which suggests the declines are more likely to be permanent.
The company will continue to focus on building a “first-class tourist destination investment and operation service provider”.
The proceeds will be used for product R&D, market expansion and customer service.
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