Tencent-invested travel firm posts 43.6% drop in Q1 revenue
>> Tongcheng-Elong, a major Chinese online travel agency invested by both Tencent and Trip.com Group, said its revenue dropped 43.6% to RMB 1,005 million (USD 142 million) in the first quarter this year. Net revenue for the second quarter is expected to decrease by 24% to 29%.
Average monthly active users (MAUs) decreased by 25.5% to 148.4 million in the quarter. About 82.5% of the company's average MAUs were contributed from Tencent-based platforms. Some 85.7% of Tongcheng-Elong's registered users were from none-first-tier cities as of the reporting period.
DerbySoft connects with Airbnb and HotelTonight
>> Travel distribution service provider DerbySoft is building new custom connections with Airbnb and HotelTonight, giving the two platforms access to more than 200,000 hotel properties. With over 400 connections to OTAs, wholesalers and tour operator groups worldwide, DerbySoft offers its partners accurate availability, rates and content to improve conversions and bookings.
China restores only 20%-30% of domestic corporate travel
>> China's domestic corporate travel market has restored only 20%-30% of its normal scale so far, according to Jiqin Fang, CEO of Trip.com Group's business travel unit Ctrip Corporate Travel. Mr. Fang said the Chinese business travel market declined 90% in the wake of COVID-19, but the sector has gradually returned to business since March. China had a business travel market worth of RMB 2.8 trillion (USD 394 billion) in 2019, but only 10% of the businesses were served by professional corporate management companies.
Marriott says millennial guests can spur Asia hotels recovery
>> Marriott expects East Asia to lead the recovery from the coronavirus crisis, but a full rebound will not happen until next year, with millennial customers leading the way, said Craig Smith, Marriott's group president for Asia-Pacific. The company which set up a joint venture with Alibaba in 2017 to improve its visibility to Chinese millennials is now partnering with the Chinese tech giant's food delivery arm Ele.me to offer meal deliveries at 32 hotels in the country.
China tells citizens not to transit two Schengen countries
>> The Chinese Embassy in Ireland has reminded its passport holders stuck in the Schengen Area not to two Schengen countries at one time, otherwise they may face penalties. It also reminds Chinese citizens that the Schengen countries have specific requirements and time for transit. Therefore, those transiting any Schengen country must leave within 24 hours.
China takes a 12% stake in Norwegian Air
>> China has acquired a 12.67% stake in budget airline Norwegian Air after the cash-strapped carrier underwent a major restructuring. BOC Aviation, owned by the Chinese government via subsidiaries including Bank of China and China Investment Corporation, has emerged as one of the new owners of the Norwegian low-cost airline. Norwegian Air's staffing subsidiaries in Denmark and Sweden filed for bankruptcy last month, a move that affected more than 1,500 pilots and 3,000 cabin crew.
China starts pilot project on whole-journey luggage tracking
>> China has started a pilot project for whole-journey luggage tracking systems at six major airports, according to the Civil Aviation Administration of China (CAAC). As of mid-May, three air routes and six major airports across the country were capable of providing services for passengers to track luggage during their whole journey, said the CAAC. Passengers can check luggage conditions in real time through mobile applications of airlines at six key points: check-in, security check, sorting, truck loading, aircraft loading and luggage arrival.
