Chinese news outlet 36Kr reported that Helios (or Huilianyi), a business travel and expense management SaaS platform, had received 300 million yuan (USD 42 million) in its C+ round of financing, in which China Renaissance’s New Economy Fund was the lead investor, while existing shareholders Softbank China Capital, Blue Lake Capital and Z Capital also took p...
Until a few months ago, roughly half of all foreign tourists in Russia were Chinese. Then, in January, Chinese tour groups vanished from the streets of Moscow and St Petersburg after Russia banned the entry of Chinese citizens following the coronavirus outbreak.
The introduction of visa-free entry for Chinese tour groups in 2015 set off an explosion of Chin...
Chinese airlines have revamped their international flight schedules between late March and the beginning of May after the Civil Aviation Authority of China (CAAC) decided to limit the number of international flights coming in and out of China in an effort to curtail the increasing number of imported COVID-19 cases in China.
Under the new regulations, starti...
Three major online travel agencies have offered to remove clauses in their contracts with accommodation providers that a Hong Kong watchdog investigation found could threaten competition and lead to higher prices for guests.
The Competition Commission said that Booking.com, Expedia.com and Trip.com had agreed on favourable terms with businesses such as hote...
Airfares to mainland China soared in the past few weeks when the coronavirus crisis escalated from a regional outbreak into a global pandemic, as desperate travelers rushed for limited seats on the few carriers that were still flying to the country amid a widening circle of global quarantines and travel ban.
The average price of air tickets from Italy, Spai...
Cathay Pacific will slash passenger capacity by 96% in April and May as the coronavirus shuts down travel across the world.
The airline has already asked staff to take unpaid leave and warned that it faces a substantial loss in the first half of this year, with a HK$2 billion ($257 million) loss in February alone. It also said it would operate a “bare skel...
Zhejiang New Century Hotel Management reported that its revenue for 2019 rose 7.2% to RMB1,928.0 million and that its EBITDA climbed 144.1% to RMB741.9 million. Gross profit was RMB565.0 million, up by 20.7%. Net profit was RMB205.0 million, 8.4% more than the previous year.
The Chinese hotelier which is invested by Trip.com Group said earlier that it susp...
The International Air Transport Association (IATA) announced global passenger traffic data for January 2020 showing that demand (measured in total revenue passenger kilometers or RPKs) climbed 2.4% compared to January 2019. This was down from 4.6% year-over-year growth for the prior month and is the lowest monthly increase since April 2010, at the time of th...
Oaky, the #1 upselling platform, announces today that it has closed a $9.5 million Series A financing. PeakSpan Capital, a growth-stage investment firm focused on the B2B software arena with offices in New York and Silicon Valley, led the round. Oaky will use the funds to increase investment in product development, continued geographic expansion and team gro...
China's top economic planner has allocated 5.7 billion yuan (about 814 million U.S. dollars) to support project construction in the cultural tourism industry that has taken a hard hit by the novel coronavirus outbreak.
The investment will be used on 485 projects including protection facilities of national cultural and natural heritage and tourism infrastruc...
