COVID-19 continues to exact a heavy toll on the events industry with more closures announced in the last few weeks. Pacific World, the globally respected events and destination management company as well as the Hilton Times Square, a New York City icon, are the latest victims of the pandemic, according to industry news reports.
No matter whether a client or a supplier experiences business interruption, they are both protected by Meeting Escrow’s signature Advance Deposit Escrow Solution. Read more about our full suite of financial and risk management solutions here.
SINGAPORE – Destination management and events company, Pacific World, this week announced it will cease operations globally in November 2020.
In a statement, Pacific World said the coronavirus is "continuing to cause unprecedented disruptions in the travel and tourism industry" and as result parent company, TUI Destination Experiences is "moving to a digitalisation strategy and decided to stop participating in the meetings and events market". The announcement follows a 25 August letter shared with partners that detailed the closure of Pacific World Hong Kong in September, and alluded to a company-wide shutdown. Read about Pacific World here by M&C.Asia
Comments