While Expedia Inc.’s buying spree created most of the mergers and acquisitions buzz last year, 2016 has been a quieter year for mega online travel agency acquisitions and the focus has shifted to hotel and other hospitality tech company acquisitions so far this year.
Russia displaced Hong Kong, Macao and Taiwan as a top destination for mainland Chinese travelers during the holiday, and welcomed 103.1% more visitors during the peak period.
Chinese outbound tourist trips grew in number and diversified in destinations during the past week-long National Day holiday, official data showed.
CTA projects that total spending by 750 million Chinese tourists at home and abroad hits USD 72 billion for the National Day holiday this October.
A Phocuswright study found those who are repeat renters are more likely to opt for a longer stay, as opposed to first-timers who generally test the water with a 1-2 or 3-4 night stay.
Value-added output of China's marine tourism sector hit RMB 1.087 trillion (USD 163 billion) in 2015, up by 11.4% YoY, according to a government report.
Marriott plans to open about 100 mid-scale hotels in China within next five years. This is expected to give the hotel group a bigger presence in China than in the United States.
In a conversation with Skift—a global travel industry intelligence leader—the founder of The Priceline Group, Jay Walker, pretty much stated that online travel booking sites are way behind the times.