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Trip.com Group net revenue drops 42% in Q1, accommodation down by 62%

Trip.com Group net revenue drops 42% in Q1, accommodation down by 62%

The company expects net revenue to decrease by 67% to 77% year-over-year for the second quarter.

05/29/2020|6:49:31 AM|ChinaTravelNews
React Mobile gets $6M in funding to develop hotel panic-button tech

React Mobile gets $6M in funding to develop hotel panic-button tech

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.

05/28/2020|4:23:40 PM|Phocuswire
Shares issue and new banking facility boosts On The Beach’s liquidity by £120 million

Shares issue and new banking facility boosts On The Beach’s liquidity by £120 million

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.

05/27/2020|1:51:51 PM|Travolution
Hotel group merges China brands; Klook looks to local demand | Daily Brief

Hotel group merges China brands; Klook looks to local demand | Daily Brief

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.

05/27/2020|7:29:17 AM|ChinaTravelNews
Hotel PMS firm raises $14 million; China accused of blocking US flights | Daily Brief

Hotel PMS firm raises $14 million; China accused of blocking US flights | Daily Brief

Car-hailing giant Didi started an international travel agency; Meituan recorded 45.5% fewer room nights due to pandemic impact.

05/25/2020|11:20:13 PM|ChinaTravelNews
Meituan records 45.5% less room nights amid pandemic impact

Meituan records 45.5% less room nights amid 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.

05/25/2020|10:25:18 PM|ChinaTravelNews
Car-hailing giant Didi invests $7 million to establish a travel agency

Car-hailing giant Didi invests $7 million to establish a travel agency

This is not the first time Didi has set foot in the tourism industry.

05/25/2020|6:26:48 PM|ChinaTravelNews
Programmatic ad spend down 9% since beginning of 2020, driven by travel and auto

Programmatic ad spend down 9% since beginning of 2020, driven by travel and auto

Although programmatic ad spend reports sharp drop, many brands are still viewing the pandemic as an opportunity.

05/25/2020|5:20:20 PM|Adweek
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