Banyan Tree and China Vanke have established Banyan Tree Assets (China), a 50/50 joint venture incorporated in Singapore. BTAC holds a 40 per cent stake in each of Banyan Tree’s operating companies incorporated in Singapore, Banyan Tree Hotel Management (China) and Banyan Tree Services (China) respectively.
Latest figures from VisitBritain show that visits from China were up 37 per cent in the first nine months of 2015, smashing previous records. There were 214,000 visits from China from January to September, beating the number of visits for all of 2014, with figures for the last quarter of 2015 still to come. Spend was up four per cent over the same period, to £435 million.
The Pacific Asia Travel Association has signed a Master License agreement with China Ready & Accredited in order to promote the global rollout of CRA programmes to PATA members. CRA delivers a global system of training and accreditation, which provides Chinese consumers with an assurance of a pre-determined level of service quality when interacting with product and service providers outside mainland China.
As people around the world celebrate Chinese New Year, the travel industry is getting ready for the Spring Festival – the country’s most important holiday. China’s Tourism Academy predicts that tourists during Spring Festival this year will number up to 225 million.
Starting on September 30, Chinese travelers are taking advantage of the once-a-decade convergence of Chinese National Day and Mid-Autumn Lunar Festival. The result is a holiday that is nearly twice as long as usual.