Some Chinese cities have begun to restrict arrivals from overseas, signaling that the epidemic’s momentum has shifted outside of China.
Despite wanting to be perceived as a tech startup, OYO is closer to a traditional hospitality company, where there is a linear dependency on staff and infrastructure.
This year, LvYue's BeU will open hotels in the main regions of India, including Delhi, Bangalore, Hyderabad, Chennai, Mumbai and so on.
Juneyao Airlines will be indefinitely postponing the launch of new European routes; AI tech firm raised $42 million in funding.
Hyatt is estimating that every 1 percent decline in greater China RevPAR equals $1 million to $2 million hits to EBITDA.
The Industrial and Commercial Bank of China will provide a USD 86.7 million loan to online travel giant Trip.com Group; RevPAR of Hyatt hotels declined 90% last month in China.
Accor, Four Seasons, Hyatt, Hilton, IHG and Marriott offered to waive cancellation or booking modification fees.
Air France-KLM warned of a €150-million to €200-million hit to earnings by April; Asia Pacific airlines could lose $27.8 billion due to outbreak.