Trip.com Group has unveiled a $500 million war chest to help its travel partners get back on their feet in the aftermath of the coronavirus pandemic.
The fund is part of the company’s Travel On initiative, which launched earlier this week and detailed some health and hygiene measures being put in place by different segments of the industry.
A spokesperson for the group says the financial assistance comes on top of the $140 million already provided to partners.
The Travel On fund aims to alleviate cashflow issues through commission waivers as well and reductions, small loans and other financial help.
In late May, Expedia Group announced a partner fund of $275 million to help hotels recover from the impact of Covid-19.
Much of Expedia’s fund will be devoted to accommodation suppliers and take the form of a reduction in compensation and marketing credits.
Speaking during the Travel On event, Schubert Lou, the group’s chief operating officer, says there were signs of “optimism” but that safety and flexibility were top of mind for consumers.
He adds that the company has launched an international travelers’ guide to provide help and advice on what to expect in destinations as well as a “green map” and alert service of where restrictions apply.
Lou also says the company’s booking policy will allow people to cancel at any time, adding that it is the “driving force to give users more confident with what they need.”