The company expects net revenue to decrease by 67% to 77% year-over-year for the second quarter.
The funding will be used to expand React Mobile’s safety platform, which enables hotel management to send resources to the exact location of a staff member in an emergency within seconds.
A total of 26,143,500 ordinary shares in the OTA have been placed at a price of 257.5p per share representing almost 20% of the company’s existing issued share capital.
Jin Jiang International has completed a major restructuring to consolidate its limited-service hotel businesses; Air China is planning to operate 24 international routes between June 1 and July 1.
Car-hailing giant Didi started an international travel agency; Meituan recorded 45.5% fewer room nights due to pandemic impact.
Revenues from in-store, hotel & travel were RMB 3.09 billion (USD 434 million) in the first quarter, 31.1% less than last year.
This is not the first time Didi has set foot in the tourism industry.
Although programmatic ad spend reports sharp drop, many brands are still viewing the pandemic as an opportunity.
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