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Booking.com sees room night growth slowing

🔔 Booking Holdings on Aug 2, 2024, sees a dip in shares by 8% post-market due to a lower room night growth forecast of 3-5% for Q3, after a 7% increase in Q2 and 14.9% in the previous year's quarter. Despite this, Q2 revenue rose by 7% to $5.86 billion, surpassing the anticipated $5.77 billion.
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UK: Consumer spending could rebound in the second half of 2024

💸 Aug 2, 2024: PwC survey suggests consumer sentiment at a three-year high may lift retailers in late 2024. Economic indicators showing falling inflation, anticipated interest rate cuts, and increases in wages, benefits, and pensions signal better consumer conditions. However, consumers still plan spending cutbacks, balancing the positive forecast for retailers. Full details at PwC's website.
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Amadeus sees healthy 2024 travel demand despite slower bookings

🏖️ Amadeus, a Spanish travel booking group, predicts robust travel demand for 2024, aligning with its guidance despite a forecasted bookings slowdown. Even as European airlines like Ryanair, Air France, and Lufthansa miss or lower profit forecasts due to rising costs and a post-pandemic travel decline, Amadeus CEO Luis Maroto, on a call post beating quarterly expectations on August 1, 2024, maintains confidence for normalized traffic and full-year performance.
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Booking.com considers appeal against mega fine

📖 On August 1, 2024, the OTA, following a CNMC investigation, announces plans to appeal what it terms an "unprecedented decision." A Booking spokesperson argues that the EU's Digital Market Act should be the platform for issue resolution rather than individual country regulations, highlighting Booking.com's competitive market presence and customer and partner choice through programs like Preferred Plus and Genius. The decision is said to create inconsistency for consumers and partners in Spain. Full details at Trav Magazine.
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Delta Expects $500 million hit from CrowdStrike outage

🛫 Delta Air Lines experienced a major outage on Aug 1, 2024, canceling over 5,000 flights during the busiest travel weekend of the summer. A failed software update from CrowdStrike resulted in 40,000 servers needing manual resets. The incident, which had global repercussions, is under investigation by the U.S. Department of Transportation and has led to significant financial losses and reputational damage for Delta, the nation’s third-largest fleet. Delta is preparing for litigation against CrowdStrike.
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This AI tool can plan your next vacation

🏕️ Mindtrip, a travel startup, launched "Start Anywhere," an AI itinerary tool on Aug 1, 2024. CEO Andy Moss asserts it surpasses general-use chatbots by integrating real-time data with generative AI for tailored travel plans, avoiding outdated suggestions like closed venues. Meant to enhance in-the-moment decisions, like discovering spots near Milan's cathedrals, it's a blend of GPS awareness and conversational AI. ???? Mindtrip.ai provides the full narrative.
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UK: OTAs join forces to lobby government

📢 On August 1, 2024, 11 UK online travel companies including Airbnb, Booking.com, eDreams Odigeo, Expedia Group, Kiwi.com, lastminute.com, loveholidays, On the Beach, Skyscanner, Trainline, and Travel Republic, formed a group to lobby the new government. They aim to highlight their contribution to the economy and consumer benefits, focusing on protection and choice, and promoting fair and competitive digital travel markets.
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Marriott lowers forecast for 2024

💸 Marriott revised its 2024 RevPAR growth forecast down to 3-4% from a high of 5%, due to weaker domestic travel demand in the U.S. and economic challenges in China. As of the end of June, the company's global room pipeline grew by 2.2% to 559,000 rooms. The U.S. election is expected to affect fourth-quarter group bookings in North America.
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The Power of One: Driving Hospitality Innovation at Converge 2024

📢 In Miami, the Converge Hospitality Revenue Summit recently concluded with nearly 300 attendees including IDeaS' clients, partners, and leaders. Keynote speakers like Chris Hemmeter forecasted hospitality tech growth, Cassie Kozyrkov discussed AI as an enhancement tool, Maricarmen Cardenas and Rob Darrow advocated for data-driven decisions, and Sanjay Nagalia offered a glimpse into IDeaS' product future. The summit acknowledged innovators Alexis Remy with the Innovation Award and Angus Blair with the Changemaker Award. Upcoming events include Converge Bangkok on Nov. 4-5, 2024, and Converge London on July 22-23, 2025, with early bird registration available until September 31.
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