Report: Travel in China to reach US$65 billion
A PhoCusWright report, "Emerging Online Travel Marketplace in China," predicts that travel in China will become a US$65 billion industry by 2011, and that 20% percent of sales will be online. However, experts said that breaking into the online travel space remains difficult for foreign companies. "Every single internet company that has entered the China market has failed," noted William Bao Bean, a partner at Softbank China & India Holdings.
Ministry backs CNR Tangshan for Malaysian maglev
The Ministry of Railways has signed an agreement with Industrial and Commercial Bank of China (ICBC) to support CNR Tangshan Railway Vehicle’s bid for Malaysian railway contracts. CNR Tangshan produces maglev trains, but controversies remain about the practicality and utility of these systems, especially as Shanghai’s 30-kilometer maglev line continues to suffer financial difficulties. A potential maglev project in Malaysia would link Georgetown on Penang island with Butterworth on the West Malaysian peninsula. CNR Tangshan officials refused to comment on whether it was in talks to construct such a system.
Shanghai has large hotel development pipeline
Shanghai, Mexico, Brazil, London and the United Arab Emirates have the largest active hotel development pipelines in their respective regions, according to a report by Smith Travel Research. The Asia-Pacific region currently has 957 hotels with 232,680 rooms under development, of which Shanghai is developing 13,507 rooms.
China Southern leads in passengers carried
China’s largest airline company by fleet size, China Southern Airlines, transported 66.4 million passengers in 2009, accounting for 28.7% of civil aviation passenger volume. The airline outperformed domestic rivals Air China and China Eastern Airlines
Kempinski to double brand inventory in China
Kempinski Hotels is planning to more than double the number of hotels under its management in China by 2013. At the moment there are 11 Kempinski-brand establishments across China and the company hopes to add 12 more over the next three years. It believes the Kempinski brand will account for 20% of the group’s overall turnover and profits by 2013. The group is also planning to introduce a new five-star hotel brand, Nuo, exclusively for China.
Chengdu to add ten international air routes
Chengdu, the capital of Sichuan province, hopes to add 10 international flights in the next three years to make it the largest aviation logistics hub in western China, according to the municipal government’s recently published three-year plan on the development of the logistics industry. Under the plan, there will be non-stop flights from Chengdu to Tokyo and Dubai in 2010.