HH Travel: 3 East Asian Online Travel Retailers form new luxury travel brand

Three of Asia's biggest travel agencies in Taiwan, China and Hong Kong jointly launched a high-end travel brand Thursday aimed at the growing demand in Asia for luxury excursions and holidays.

The new company, HH Travel, was formed by Taiwan-based online travel agency ezTravel, China's biggest online travel agency Ctrip.com, and Hong Kong-based Wing On Travel. 


A booming Luxury market in Asia
One of the first high-end package holidays to be launched by the venture is a US$161,270 round-the-world 80-day tour to five continents on Silversea Cruises, said ezTravel President Jack Yu. The tour will be open to 15 individuals, with registration openings on March 26. 

The company estimates that it will sell tour packages to 1,200 travelers at an average price of NT$500,000 this year and to 10,000 travelers at the same average price by 2016.
 

ezTravel executive Jack Yu said similar luxury group tours promoted by ezTravel in the past -45-day, 60-day and 66-day round-the-world tours in 2005, 2010 and 2011, respectively -were all snapped up in under 15 minutes, an indication of the market potential for high-end travel in the region. 

China has over 960,000 households with assets of $1.58 million or more
Yu noted that China has about 960,000 households with assets of 10 million Chinese yuan (NT$46.7 million; US$1.58 million) or more, according to the latest Hurun Report, which publishes an annual list of China's wealthiest people.

There are also more than 600,000 families in Taiwan and Hong Kong that are potential luxury travel customers, Yu estimated.


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