Home > > Car rental firm eyes $300 million US IPO; Chinese tourists returning, but slower than expected | Daily Brief

Car rental firm eyes $300 million US IPO; Chinese tourists returning, but slower than expected | Daily Brief

02/26/2024| 6:48:42 PM| ChinaTravelNews

Trip.com Group expands its buyer base in China; Return of Chinese tourists is still a big question mark for U.S. hotels.

Chinese car rental firm eHi eyes $300 million US IPO

Partnering with major financial institutions, the firm seeks to make a global impact and could pave the way for other Chinese companies. The success of this IPO may influence international investment in Chinese enterprises.

Trip.com Group expands its buyer base in China

Trip.com Group has acknowledged that travelers in China have chosen to spend on travel over other expenses, including one on daily activities, signaling a shift towards experiential travel-related spending. The online travel group stated that it has continued to expand its user base among the elderly demographics in China.

Return of Chinese tourists still big question mark for U.S. hotels

China's domestic tourism revival helped power earnings for the big global hotel groups last year, but the return of Chinese visitors to the U.S. remains well below pre-pandemic levels. Marriott International reported substantial net profits for Q4 2023 and the full year, with significant growth in China. But Hilton CEO Christopher Nassetta views Chinese inbound guests as a significant variable in the 2024 outlook.

Two more mainland cities to join HK, Macao individual visit scheme

Starting March 6, citizens in two more Chinese mainland cities, Xi'an and Qingdao, will be eligible to visit the Hong Kong and Macao special administrative regions on an individual basis.

Brunei's GallopAir, buyer of COMAC planes, eyes year-end launch

Brunei-based airline startup GallopAir hopes to start operations by the end of 2024 should Brunei's aviation regulator approve the regional jet made by Chinese state-owned planemaker COMAC it wants to fly in time, the carrier's chief executive said. In an interview on the sidelines of the Singapore Airshow, GallopAir CEO Cham Chi said COMAC was exploring setting up maintenance, repair and overhaul (MRO) facilities in Brunei as it seeks more international customers for home-grown planes competing with the dominant Western manufacturers Airbus and Boeing. 

Chinese tourists returning, but slower than expected

New Zealand is experiencing a “positively building” number of visitors from Asia, especially the Chinese visitors who once dominated overseas arrivals and are keen on unique Kiwi experiences, tourism operators say. Tourism New Zealand chief executive René de Monchy said tourism recovery had been gradual, and “we’ve seen positive signs of that recovery out of China”.

China's tourism revival is much needed for global economy

International travel surged during this Chinese New Year holiday. John Gong, vice president of Research and Strategy at the University of International Business and Economics, says that the recovery of China's tourism industry is much needed for countries like Thailand and Sri Lanka.

Saudi Arabia, China sign MoU to develop air transport cooperation

General Authority of Civil Aviation (GACA) President Abdulaziz bin Abdullah Al-Dauilej on Thursday signed a memorandum of understanding (MoU) in the field of air transportation with Civil Aviation Administration of China Administrator Song Zhiyong. The MoU was signed during the visit to China of Saudi civil-aviation officials as part of the ongoing cooperation between the two countries in the air transportation sector.

Hong Kong Airlines announces 2024 salary increase

Hong Kong Airlines announced a salary increase averaging 3.8% for eligible staff, effective from 1 February 2024. The Company has experienced a commendable recovery in its operations during 2023, reinstating 25 destinations and achieving an 85% passenger load factor over the past year.

Snow tourism mania heats up China's "furnace city"

In the snowless urban landscape of southwest China's Chongqing Municipality, a surprising fervor for winter sports has taken hold, transforming this "furnace city" known for its scorching summers into a hub for ice and snow tourism. Statistics showed that more than 4.88 million people participated in winter sports in Chongqing from 2018 to the end of 2022. Data from China's leading online platforms Meituan and Dianping apps showed, in December 2023, online searches for "skiing" in Chongqing surged by over 250 percent compared to the previous month, while bookings for skiing venues in the city increased by over 120 percent compared to the same period last year.

TAGS: eHi Car Services | Daily Brief | US IPO | GallopAir | New Zealand
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