Automatic - 10 Minutes News for Hoteliers - Page 254

1 min

Travel isn’t dead. It’s just taking a vacation

🏖️ On August 20, 2024, U.S. CEOs warned about declining consumer financial health impacting travel, following the highest unemployment rate since fall 2021. Despite this, the Conference Board reported more Americans plan vacations now compared to last year. U.S. hotel occupancy rates for the week ending August 10 were also up year-over-year, with over 82,000 locations monitored by CoStar Group.

1 min

Marriott reaches licensing deal with Sonder

🏨 Marriott to boost inventory by over 9,000 rooms by end of 2024, with 1,500+ future rooms. New "Sonder by Marriott Bonvoy" collection targets younger travelers, offers apartment-style and boutique hotels in cities. Partnership includes Marriott earning royalty from Sonder's room revenue.

1 min

Paris as hotels see post-Olympics boost in bookings

🌆 Paris' hotel occupancy hit 84% during the Olympics, a 10% increase from last year. Despite a slow start with tourists delaying visits due to fears of overcrowding and high prices, hotel bookings surged last-minute post-Games, concluding on August 11, 2024. Hotels offered discounts and incentives leading to the boost, although rates were double the normal. Owners sold non-refundable rooms in advance to secure revenue.

6 min

Hotels figured out they were leaving money on the table. Enter the paying non-guest. – HOTELSMag.com

🏨 Hotels cater to non-guests with amenities like pools and meeting rooms for revenue, exposure, and community ties. ResortPass, leading with 1,500 hotels in 27 countries, offers day passes often under $65, with luxury options over $200. Hilton and Hyatt embrace the trend for local and leisure daytime visits, with Hyatt piloting an experiential tech partner, Way, since late 2023. Royalton increased ResortPass bookings by 50% and revenue by 80% from June 2023 to June 2024. CitizenM offers memberships across its 34 hotels with perks like 15% off stays and free co-working space use. Hotels manage non-guest impact to prevent compromising guest experiences.

13 min

Google’s Real Googly. No Not The Anti-Trust!

📊 A US federal judge declared Google a monopolist and ruled against its practice of paying Apple billions to remain the default search engine on its devices. This stance may slow Google's innovation, already challenged by AI advancements like OpenAI's ChatGPT. Google's "10 blue links" model faces existential threats from AI competitors capable of providing direct answers. Despite Google's early AI developments and $165 billion in revenue from search ads in the first six months of 2024, talent departures and lack of new hit products suggest potential decline, similar to the fate of once-dominant companies like IBM and AT&T. The shift towards AI interaction models and voice/gesture commands could reshape the internet, diminishing the relevance of traditional search.

3 min

Uber and BYD Partner to Accelerate Global EV Transition

🚗 Uber and BYD announced a multi-year strategic partnership to deploy 100,000 BYD electric vehicles (EVs) across global markets including Europe, Latin America, the Middle East, Canada, Australia, and New Zealand. Uber, with the largest on-demand EV network, and BYD, a leader in EV production, aim to lower EV ownership costs and promote their use on the Uber platform. The collaboration extends to future autonomous-capable BYD vehicles for Uber, enhancing urban mobility and sustainability.

1 min

CBRE Hotels adjusts outlook for 2024

🏨 CBRE revises U.S. hotel RevPAR growth forecast to 1.2% for 2024, down from May's 2.0% prediction. Despite a slower H1 at 0.5%, H2 is expected to see a 2% increase, influenced by international tourism and elections. Economic indicators include a 2.3% GDP growth and 3.2% average inflation for 2024. RevPAR might hit a record $100.54, achieving 114.5% of 2019's pre-pandemic levels with a 1.1% average daily rate increase and 0.1% occupancy rise. U.S. TSA reports a 5.4% rise in passenger throughput, with over 549 million travelers.

1 min

Americans spending less on travel

🏖 On Aug 19, 2024, leisure travel demand showed a downturn with variations by income: high-income travelers favored international trips while low-income individuals scaled back. Hilton CEO Chris Nassetta highlighted financial strains on lower-income travelers, resulting in fewer travels. Last-minute bookings increased as per Airbnb CFO Ellie Mertz. The travel industry sees a shift towards more economical accommodations and selective bookings.

1 min

Google hotel listings under siege

🏨 On August 19, 2024, Search Engine Roundtable reported hackers manipulating Google Hotel listings, marking some hotels as permanently closed and altering contact details, including phone numbers switched to WhatsApp contacts.

1 min

Corporate travel’s new vibe

📅 Business travel is set to reach 2019 levels in 2024, yet when adjusted for inflation, it remains 18% lower. Fewer business trips are observed in recent months relative to pre-pandemic times, with extended stays more common and an increased emphasis on traveler health. Hotels adapting to these trends have the opportunity to attract such guests, amidst a sector reshaping by corporate cost-cutting and changing industry perspectives.

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