Asian tourism-focused businesses ready for China rebound as border reopens
South Korean and Japanese shop owners, Thai tour bus operators and K-pop groups are among those celebrating China's border reopening as businesses around Asia rekindle ties with the region's largest economy. China was the world's largest outbound tourism market before the pandemic, and the absence of its once $255 billion of annual spending since borders were shut three years ago has led to financial trouble for many tourism-dependent businesses and employees.
Hongkongers can expect lower airfares this year as flag carrier predicts flight supply to return
Hongkongers can expect lower airfares this year, with local flag carrier Cathay Pacific Airways predicting prices will return to normal as the supply of flights increases. The airline made the upbeat forecast about cheaper airfares amid rising calls from lawmakers for the company to reduce ticket prices, after it had posted a HK$9.78 billion (US$1.2 billion) net profit last year.
Samsonite dual-listing plan prompts 12% slump in shares
Shares of Samsonite International dropped as much as 12% to their lowest level in almost a month on the Hong Kong stock exchange after the luggage maker said on Friday it plans to seek a dual listing. The company, which also owns the American Tourister and Tumi luggage brands, did not say which exchanges it was considering for the second listing but two people familiar with the situation said the U.S. was a likely venue.
Didi swings to profit in fourth quarter
Didi Global, China's largest ride-hailing company, on Saturday reported a fourth-quarter profit, indicating that the Chinese ride-hailing leader has gradually recovered from difficulties after prolonged regulatory scrutiny. Didi Global reported net income attributable to shareholders of 818 million yuan ($113.15 million) in the three months ending Dec. 31, compared with a loss of 953 million yuan a year ago. Revenues jumped 55.4% to 49.4 billion yuan for the quarter.
Meituan daily live-streaming sessions exceeded 10000 in December
Meituan has highlighted that its content production capabilities and various formats, including live streaming, has boosted transactions on its platform. Sharing its quarterly results, the company stated that throughout 2023 the team focused on refining its ability to promote “value-for-money mega-hit products” and strengthened its video content offerings.
H World continues to foray into less penetrated areas
H World’s expansion plans continue to stand out, for its focus on geographic coverage and the pace with which the hotel chain is spreading its hotel network. In its fourth quarter (Q4) earnings call, the hotel company stated that it had 3,098 unopened hotels in the pipeline at the end of 2023. The figure included 3061 properties from its Legacy-Huazhu business, compared with 2544 at the end of 2022.
Smart tourism innovation meets adventure at Shanghai Disneyland
Shanghai Disneyland has been selected as one of the initial 42 immersive smart tourism experience spaces for focused development efforts, as recently announced by China's Ministry of Culture and Tourism. This recognition is attributed to its standout attractions: "Soaring Over the Horizon" and "Pirates of the Caribbean: Battle for the Sunken Treasure."
Hainan Airline resumes Seattle-Beijing direct flight
After a hiatus of nearly four years, Hainan Airline has announced that it will resume service from Seattle to Beijing from Tuesday, April 2, and it will do so every Tuesday, Thursday, and Saturday year-round. This route is supposed to be the shortest flight between the continental United States and mainland China.
IHG and Hainan Airlines partner for integrated China travel
IHG Hotels & Resorts and Hainan Airlines have announced a two-year partnership to provide integrated travel experiences for passengers traveling between Hainan Free Trade Port, China, and other major cities. IHG said the partnership focuses on streamlining the travel journey by combining air travel with hotel stays and offering exclusive benefits throughout the trip.
Hong Kong's popular Octopus card expands to mainland China
Hong Kong's popular Octopus tap-and-go card will be accepted on public transport in more than 336 mainland Chinese cities from Tuesday, the e-payment company has announced. Under the new scheme, the Octopus-China card will be accepted on buses, subways, trains and ferries in about half of the cities in mainland China.
