Fosun Tourism’s post-Covid holiday fizzles
The resort unit of one of China’s leading conglomerates posted modest growth in the first quarter, as its broader outlook was clouded by debt issues at its parent Key Takeaways:…
PODCAST: A Fitch Downgrade, and New Steps to Bring Back Global Tourists
Fitch has lowered its outlook on China's sovereign rating to "negative," citing economic uncertainty. What does this mean for investors, and what's the likelihood of an actual ratings downgrade? And China has ordered all hotels rated three stars or higher to accept foreign credit cards. Will this help to bring back foreign travelers after three years of Covid isolation?
FAST NEWS: Trip.com annual profit soars on travel rebound
The latest: China’s leading online travel agent Trip.com Group Ltd. (9961.HK; TCOM.US) on Thursday reported its net profit soared more than six-fold to 9.92 billion yuan ($1.38 billion) last year,…
Fosun Tourism embarks on new journey with departure of big-name director
Henri Giscard d’Estaing has left the board of Fosun Tourism, which is refocusing on China and Southeast Asia, to ‘devote additional time and attention’ to his role leading Club Med…
FAST NEWS: H World returns to black, forecasts slowing revenue growth
The latest: Hotelier H World Group Ltd. (HTHT.US; 1179.HK) announced last Friday it recorded a net profit of 1.31 billion yuan ($183 million) in the third quarter, reversing a net loss of…
Atour glides as economic slowdown fails to dent Chinese travel demand
The mid- to upscale hotel brand’s revenue rose 93% in the third quarter, as nearly all of its major metrics exceeded pre-pandemic levels Key Takeaways: Atour’s revenue nearly doubled and…
Travel rush is not golden enough for investors in CTG Duty Free
Shares in China’s leading operator of duty-free stores have slumped after the company failed to meet high expectations for a post-pandemic rebound Key Takeaways: CTG Duty Free’s revenues jumped nearly…
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