Buoyed by technological innovations and transformation in consumer demands, the travel sector has soared despite turbulence in the year.
Booking.com will continue to partner with local operators, such as Ctrip, DiDi and Meituan, as well as further rolling out its alternative travel services.
Thomas Cook collapsed after an ambitious expansion plan to compete with online travel agencies. Ironically, it is being reported that the relaunched Thomas Cook will be an online-only agency.
Chinese tourist sites received 782 million visits during the holiday, up well over 7% from last year’s 726 million, but that’s slower than growth of past two years.
Three in five urban Chinese respondents are motivated to try themed travel as a suitable hobby (66%) or an in-depth experience (64%).
Cox & Kings is $500 million in debt. Fears are rising that the company may meet the same fate as Thomas Cook, the world-famous travel brand which collapsed after 178 years in the industry.
Chinese group tours for the holiday are set to plunge 86% compared to last year, and flight prices from Shanghai to Hong Kong are 38% cheaper, and only 30% of hotel rooms are booked for the time.
The collapse of Thomas Cook may not be an entirely bad thing for Fosun.
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