China's new epidemic eases, Ctrip prepares for recovery
China's largest travel booking company, Trip.com Group (TCOM), said the company is seeing signs of a resumption of Chinese travel willingness after tens of millions of travel orders were canceled due to the new virus epidemic.
The company said on Thursday's earnings call that the cancellation of orders due to the outbreak involved more than RMB 31 billion (about $ 4.4 billion).
The company's executives have agreed to a 50% pay cut until the industry recovers, with a zero pay for the chief executive and chairman of the board.
The chairman of the board, James Liang, said that the epidemic did not destroy the healthy foundation of China's tourism market. Liang Jianzhang said that with the outbreak of the new epidemic in many regions around the world, Chinese tourists may prefer to stay near their homes in the near future, and are more inclined to take short day trips or weekend tours in nearby cities.