Lotte Duty Free’s overseas sales grew 60% YoY, aiming to be the largest duty free operator in the world by 2023.
The pair plan to form an intelligent rental platform in the next two years to provide users with smart services covering search and payment functions.
The occupancy rate was 82.6% in the second quarter of 2018, a decrease of 0.6% year-over-year. RevPAR was RMB 136 in the second quarter of 2018, representing a 4.6% year-over-year increase.
As of June 30, 2018, the number of hotel rooms in operation totaled 393,417, an increase of 9.4% from a year ago. Income from operations increased 53.2% year-over-year to $101.4 million for Q2.
Over the last decade, social networking and user-generated content-focused businesses have a failure level just under 60% while air-related new companies have the lowest failure rate at 20%.
As Anbang looks to raise cash more rapidly, the insurer has decided to sell the entire portfolio of about 15 hotels.
Amadeus is to integrate TravelClick into its Hospitality, going up against players like Sabre and Oracle.
According to The Economic Times, OYO is in talks with companies including SoftBank and We-Work for a new round of investment. The deal is expected to finalise by the end of this month.
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