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Paris Olympics may be keeping tourists away – HOTELSMag.com

🏅 Paris is preparing for the Olympics with elevated hotel rates, seeing a 41%-61% surge in average hotel prices in three- to five-star hotels during the event compared to yearly averages. Tourist tax will increase by almost 200%, with costs per night ranging from €2.6 to €14.95. Despite high occupancy predictions, nearly 80% hotel booking levels in June, tourists are avoiding the city pre-Olympics due to disruptions and higher expenses. Airlines like Air France-KLM anticipate a revenue drop of €180 million, while Delta expects a $100 million loss. Visitor numbers could reach 11 million, but only 1.5 million from abroad. France is projected to maintain its tourism appeal, expecting 101 million international arrivals in 2024, up from 98.2 million in 2023.
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Surge in travel bookings may slow this year

🌍 Travel experts observed a 16.8% decrease in sales in the first half of 2024 compared to the same period in 2023. Despite varied factors like elections, inflation, and geopolitical events, the travel industry remains optimistic with continuous investments into new hotels, resorts, ships, and itineraries. Notably, luxury travel sales have remained robust. Full insights are available at Travel Weekly.
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Paris Olympics discourage tourism

🏆 On July 31, 2024, the Marais district in Paris faces a tourism slump during the Olympics. Airlines are experiencing a drop in summer travel demand to Paris, with fewer bookings and empty seats. High costs for accommodations and metro tickets contribute to the downturn, with hotels lowering rates after an initially slow season. The French government is considering compensation for businesses. The impact on post-Olympics tourism remains uncertain.
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Developing an AI-powered data strategy for hotels

💻 Ireckonu, founded in 2014 for CitizenM, now aids global brands like Mandarin Oriental and Loews Hotels with data platforms. Rik van Leeuwen, head of data, stresses the need for a solid data strategy before AI implementation in hospitality. On July 31, 2024, emphasizing customer profile accuracy for AI efficacy, Ireckonu was featured in a PhocusWire interview regarding AI, machine learning, and customer retention in hotels.
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Spain’s watchdog fines Booking.com €413 million

🛒 Booking.com was fined a record €413 million by Spain's competition watchdog, the CNMC, on July 31, 2024, for abusing its dominant position. The fine addresses the company's business practices over the past five years, which impacted hotels in Spain and stifled competition with other online travel agencies. With a market share of 70-90% in Spain, Booking.com's practices disadvantaged competitors by favoring hotels with higher bookings on its platform. This marks the CNMC's largest fine to date.
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Online platform tourism booming across Europe

📈 In Q1 2024, online platform overnight stays surged to 123.7 million, marking a 28.3% increase from Q1 2023. January recorded 33.3 million nights (+16.7%), February 41.2 million (+19%), and March 49.2 million (+48%). Popular 2023 destinations included Andalusia, Adriatic Croatia, and Provence-Alpes-Côte d'Azur. Eurostat's monthly records for 2024 highlight the growth of online tourism. Full details at Eurostat.
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Putting generative AI to work for business travel

📈 Travel Management Companies (TMCs) are cautiously integrating generative AI (genAI) tools, with more sophisticated applications on the horizon, poised to transform the industry. As of July 26, 2024, TMCs have limited genAI usage to elementary tasks, such as responding to travel policy inquiries and email parsing, due to concerns about AI's accuracy and the high stakes of potential errors. Despite the slower adoption rate compared to other sectors, the anticipation for future capabilities, like improved customer relationship management and advanced AI assistants, is high. ????
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How hoteliers are using technology to meet the changing needs of travelers

🏨 On July 26, 2024, the article highlights the importance of technology stacks for hotels during the peak summer travel season. To drive revenue and cater to modern travelers, specifically Gen Z, hotels are advised to utilize loyalty programs and omnichannel POS systems. These systems help collect data on guest preferences, enabling personalized marketing campaigns for ancillary services. Read more at [Hotel Dive](https://www.hoteldive.com/news/hoteliers-leverage-tech-stacks-summer/722466/).
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