Booking Holdings “hopeful” for U-shaped recovery by Spring 2021
Worldwide: In its latest earnings call for 2020 Q3, Booking Holding senior executives are predicting a second dip in cancellation rates in November and December before a U-shaped recovery [rather than the deep V shape seen earlier in the year] until Spring 2021. The company is forecasting a loss in the fourth quarter despite seeing […]
Chinese tourists to make 3.4 billion domestic trips in 2020
China: According to the China Tourism Academy, Chinese tourists will make 3.4 billion domestic trips in 2020. The figure is down 43 per cent year on year from 2019 tourism statistics. Revenue is also meant to fall by 2.76 trillion yuan [$394 billion] in 2020, half of its previous year’s total revenue. The country’s initial […]
OYO sees booking recovery in USA and Europe
US: According to the CEO of Indian hospitality chain OYO, Ritesh Agarwal, a recovery is visible in its US and European markets, though holidaymakers are likely to shun large-scales in favour of home rentals and boutique hotels as the Covid-19 pandemic remains in circulation. OYO’s RevPAR is around 92 per cent of pre-coronavirus levels and the brand […]
STAA submits five-point plan to advise government on industry recovery
UK: The UK Short Term Accommodation Association has announced the submission of a five-point recovery plan as part of continuing discussions with the government. The plan has been submitted to the Department of Culture, Media and Sport, and hopes to get the industry back on its feet after the restrictions have ended. The five points […]