Euromonitor’s report: 80% of travelers ready to pay 10% more for sustainable features despite living costs. 41% willing to pay 30% extra for adventure, eco-tourism. Europe leads Sustainable Travel Index 2023, Sweden tops, Uruguay enters top 20.
25.08.2023 - 14:11 / skift.com / Sherry Sun
Abel Zhao, co-founder & CEO of FreeD Group, a technology innovator that specializes in proprietary enterprise application solutions, has acquired 75-year-old Connexus Travel from the parent company of Cathay Pacific, Swire Group. Financial details of the acquisition were not disclosed.
Founded in 2015, FreeD Group is a travel technology startup offering proprietary SaaS solutions for sales and marketing. The company uses AI [artificial intelligence], big data and machine learning technologies to deliver end-to-end digital solutions connecting platforms, brands and service providers.
“We see tremendous growth potential for Connexus because of its long history of excellent services and the synergies that will be generated between Connexus and FreedD,” said Zhao in the press release. “The positive outcomes we envisage include business opportunities spanning travel services, e-commerce, marketing services and brand loyalty programs, all of which will be underpinned by a comprehensive range of digitalized services and solutions. Ultimately, we anticipate Connexus Travel to follow in the footsteps of FreeD Group and transform into a global brand.”
Headquartered in Hong Kong, FreeD has over 250 professionals from 22 different regions across the globe and operates in more than 10 markets globally. FreeD clients and partners include major names such as Google, BMW, FIFA World Cup, Samsung, China Mobile and LG.
The startup raised a $15 million Series B in June 2022, led by Daiwa ACA APAC Growth Fund and ACA Partners Pte. Ltd. Investors also included Hong Kong property developer Chinachem Group, Hong Kong Science & Technology Parks’ Corporate Venture Capital Fund, Radiant Tech Ventures and startup accelerator SOSV’s Select Fund.
The acquisition of Connexus Travel follows the startup’s strategy for targeting expansion in Seoul and Shanghai. Established in 1948, Connexus Travel was to first travel management company (TMC) to be registered in Hong Kong, offering services from hotel and travel packages to ticket bookings and visa applications for both domestic and foreign tourists. The company has offices in Beijing and Shanghai and obtained a local licence in Beijing in 2009. After 70 years of operation, Connexus Travel has become a trusted name for corporate, leisure and MICE travel.
“We will leverage our position as a market leader and the development plans with FreeD to expand our services not only in Hong Kong and China, but also to the markets where FreeD currently operates,” said Eric Lau, general manager of Connexus Travel.
The startup also plans to expand its digital solutions to reach the Americas, Europe and the Middle East.
Euromonitor’s report: 80% of travelers ready to pay 10% more for sustainable features despite living costs. 41% willing to pay 30% extra for adventure, eco-tourism. Europe leads Sustainable Travel Index 2023, Sweden tops, Uruguay enters top 20.
Searches on Chinese travel sites surged and social media platforms were flooded with delight and relief on Wednesday as the public cheered the biggest loosening of some of the world’s strictest Covid policies.
China’s latest loosening of its stringent zero-Covid policy, mostly for domestic tourism, comes across as too little too late, at a time when the rest of the world is living with the virus.
China will stop requiring inbound travellers to go into quarantine starting from Jan. 8, the National Health Commission said on Monday in a major step towards easing curbs on its borders, which have been largely shut since 2020.
A day after China announced some major changes to its controversial zero-Covid policy, Hong Kong on Thursday announced that inbound arrivals would need to undergo daily rapid antigen tests for five days, instead of seven days.
China, grappling with a new wave of COVID-19 infections, took another step towards loosening its pandemic-related restrictions on Saturday when Hong Kong‘s leader announced it would aim to re-open its borders with the mainland by mid-January.
After a whole lot of “will they, won’t they,” Hong Kong has finally announced that visitors to the destination would no longer be subject to home monitoring for three days.
Good morning from Skift. Somehow it’s already Friday, January 20. Here’s what you need to know about the business of travel today.
Good morning from Skift. It’s Thursday, January 5, and here’s what you need to know about the business of travel today.
Southwest’s Meltdown Should Be a Technology Warning for Airlines: Instead of heeding employee concerns, Southwest focused primarily on tech for customers, leading to a worst-case example of what can happen when modernizing operations is not a priority. May other airlines learn from Southwest’s mistake.
China has told travel agencies in Japan that it has stopped issuing new visas for travel, three companies confirmed to Reuters on Tuesday, an apparent response to stricter measures for Chinese arrivals after their country freed up travel.
If the sudden dropping of all restrictions by the Chinese government caught travel agents and tour operators off-guard, it begs the question: why?