Around 128 million Chinese travelers will venture abroad in 2024, according to the latest survey from digital marketing and research firm China Trading Desk. That’s still far off the pre-pandemic peak of 155 million but the firm predicts gains, with China’s outbound travel hitting 200 million by 2028. Dragon Trail in its latest survey had noted that China’s October Golden Week marks a major...
GMR Airports Infrastructure Limited has entered into an agreement with Fraport AG Frankfurt Airport Services Worldwide to acquire Fraport’s 10% stake in the Delhi International Airport. With this, GMR will hold a 74% equity stake in the airport, while the remaining 26% stake will continue to be with Airports Authority of India (AAI). GMR is acquiring the stake for $126 million. The GMR...
An increasing number of young, budget-conscious travelers are driving demand for hostel accommodations in India over the last few years, according to Pranav Dangi, founder and CEO of backpacker hostel chain The Hosteller. The backpacking culture in India is also contributing to this trend. The Hosteller CEO notes that the company has also recorded a surge in Gen Z and millennial travelers...
President Donald Trump on Wednesday laid out a sweeping set of tariffs that would hit products from a long list of countries. Among the proposed tariffs: A baseline of 10% for trading partners; 25% on all imported cars; and reciprocal tariffs on at least 50 countries that can reach nearly 50%. The plans go further than many were expecting. Reciprocal tariffs aren’t based solely on rates...
Yanolja, the online travel agency based in Seoul, is teaming up with Google Cloud to develop AI services for travel companies. Yanolja said late last month it’s also working with OpenAI to enhance the trip planning experience within ChatGPT. And there are more partnerships coming with other AI companies — all part of a greater plan for a smoother travel experience from start to finish, according...
Booking.com modified its sustainability program and will now help hotel partners obtain third-party sustainability certifications. With certification costs a key concern for partners, including Europe’s many independent hotels, the online travel company announced Monday that it would share information on organizations that provide funding and discounts for sustainability certifications...
We’re getting closer to the completion of Vistara’s merger with Air India, which will combine fleets, routes, and — most importantly for frequent flyers — loyalty programs. Starting November 12, Club Vistara will merge into Air India’s Flying Returns, bringing changes for millions of loyal customers. Members will not be able to redeem Club Vistara Points and vouchers for flights after...
Hostaway, a platform for managing short-term rentals, has raised $365 million — one of the largest fundraises of the year and among the largest ever in its sector. The fundraise values the company at $925 million. The fundraise comes shortly after hotel analytics tech company Lighthouse raised $370 million, the largest fundraise of the year for a travel software company. Private equity firm...
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