Key developments today:
* Airbus to restart China operations
* Singapore expects less visitors
* MakeMyTrip changes Group CEO
* OYO adds 8,500 hotel rooms in China
Airbus to restart production in China
>> European planemaker Airbus said it has been authorized by Chinese authorities to restart operations at its final-assembly line in Tianjin. The plant produces about six narrow-body aircraft per month, or about 10% of Airbus’s total narrow-body output.
South Korea advises avoiding Japan, Singapore
>> South Korea’s health ministry advised citizens to minimize travel to destinations with confirmed cases of novel coronavirus, including Singapore, Japan, Malaysia, Vietnam, Thailand and Taiwan. South Korea will strengthen quarantine screening on entrants from Hong Kong and Macao.
Trip.com chairman: travel bans hurts cooperation
>> Mr. James Liang, chairman of the Trip.com Group, commented that the radical policies implemented by some countries treat the entire Chinese nation as an epidemic-stricken region and that will adversely affect cooperation with China across all areas.
Singapore tourism to take 'significant hit'
>> Singapore expects that its visitor arrivals will fall by 25%-30% this year due to the virus outbreak. China accounts for about 20% of Singapore's international visitor arrivals.
Australia to extend China travel ban
>> Australia will extend its China travel ban as the coronavirus outbreak continues to spread. The ban has taken a toll on the tourism industry, which is losing an estimated $1 billion a week.
Virus to hit Canadian travel sectors
>> Canada's finance minister Bill Morneau said the coronavirus is likely to disrupt supply chains and hit the country’s tourism sector. Airlines have slashed flights to and from China.
OYO brings in 8,500 more rooms in China
>> OYO founder Ritesh Agarwal agreed that the company needs to improve and he'd like to stabilize the organization. He revealed that OYO has brought in 8,500 more rooms in China in January.
OTA giant rearranges executive roles
>> MakeMyTrip’s founder Deep Kalra has turned to his new role as Group Executive Chairman, while co-founder and CEO-India Rajesh Magow has been elevated as Group CEO.
MakeMyTrip believes that separating the roles of Group CEO and Executive Chairman will allow the company to strengthen its focus on long-term strategic opportunities within and outside India.
Funding rounds
>> Uber co-founder Travis Kalanick has backed the USD 20 million funding round of Habitas, a company that builds hotels using 3D printing technology. Habitas said it can build modular resort-style hotels in 6-9 months versus the four to five years to build a traditional hotel.
>> Hotel API firm Impala seized USD 20 million in Series B round invested by Lakestar, which previously invested in Airbnb and GetYourGuide, and Latitude Ventures, the Series B+ sister fund to LocalGuide.
