Airlines and major hotel chains are waiving cancellation fees, but recouping all the costs associated with trips canceled due to coronavirus fears is far from guaranteed.
Asia’s cruise market is sailing into a golden era, powered by significant growth in China. By 2035, China’s cruise industry is projected to generate 460 billion yuan in revenue.
With the current round of financing, HiTime will increase its market share in yacht operations at pristine areas in China, and aims to become China's largest yacht service provider with updated products.
The number of cruise passengers from China surged 91% in 2016 to a record high of more than 2.12 million. Yet the industry has to grapple with issues of deteriorating experience and homogenized itineraries.
China is projected to become the world’s most important cruise market with 10 million cruise passengers in 2030 in the “2016 China Cruise Industry Development Report”.
Ctrip projects that the capacity of China’s cruise ports will grow more than 80% next year in its “2016 China Cruise Industry Trend Forecast” report.
China Cruise and Yacht Industry Association estimates that a total of 613 cruises will sail from China this year, up 31.5%.
China’s first specialist vertical online platform for cruise services YLLY.com announced that it received an A Series financing from Sunflower Capital.
