Even as a McKinsey report deciphers key trends in China’s tourism market this year, the million-dollar question of when the world will get to welcome back Chinese tourists remains largely unanswered. That means a new type of Chinese tourist is opting for deeper local culture experiences.
China's national hotel performance sank amid an Omicron surge that is gripping major cities on the mainland as well as Hong Kong. But you wouldn't know that based on the development interest in the region from major companies like IHG.
It's still only one data point, but Europe's softened hotel performance is a warning signal to major hotel company executives who previously tried to downplay the impact the Ukraine War would have on their European portfolios.
Flight Centre Travel Group is a global travel agency so it should be able to handle Air New Zealand and Qantas getting around to slashing travel agent commissions two decades after Delta Air Lines kicked off the trend in the U.S. It won't be without some pain, however.
Holiday Inn Express is still the bread and butter at IHG, but newer brands like Avid and Voco are vaulting up the charts to account more for future expansion at the company.
Global hotel companies like Hilton are quick to say China’s stretched-out lockdown measures aren’t deterring them from developing new projects there. Too much money is riding on these potentially lucrative deals to happen.
A largely closed-off international sporting event in China’s capital city means the historically fickle Olympic bump in hotel business is more likely to be an Olympic blip.