Travel Leaders Group has been aggressive with mergers and acquisitions since 2015, leading to increased consolidation in the leisure and business travel space.
By Jan 4, the number of travelers who booked trips to spend Spring Festival in Japan jumped 40 percent year-on-year, and their per capita spending on booking is 9,000 yuan ($1,312) on average.
The new law’s effects are now being felt by online customers booking train tickets ahead of the Chinese New Year travel rush.
On their trips to 157 countries and regions, Chinese travelers spent more than $120 billion in 2018, compared to $100 billion in 2017, the CTA estimated.
Total bookings made directly via operator websites went from 79.2% in 2017 to 66.7% in 2018, while the percentage of total bookings going to online marketplaces increased from 3.2% to 9.1%.
Brexit brings greater uncertainty to the regional business travel market, organisations are remaining cautious about spend.
The news sparked speculation that Airbnb is planning to eventually manufacture its own lodging, perhaps even sell real estate. An Airbnb spokesperson denied such speculation.
ZoloStays’ revenue from operations stood at $3.88 million for FY18 while it incurred a loss of $576.24K. The startup plans to clock $14.4 million in revenue in the next financial year.