As travel giants circle, understanding the economics in tours and activities is vital

In the past 24 months, the tours and activities sector has moved from, to borrow a Cinderella analogy, the cinders to the palace, where its untapped potential has moved into the sights of major travel retailers and investors. These retailers and investors, as we know, included Booking Holdings, Tripadvisor and SoftBank via their investments in Klook and GetYourGuide. These moves have led to lots of opportunities for operators and consumers alike, but, as always, change does not come without its casualties. Some operators are to dealing with distributors and they understand that such partners can be both partner and competitor.

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Bethany Beach Home Rentals

Bethany Beach Home Rentals provides Vacation Home Rentals at Bear Trap Dunes resort in Bethany Beach, Delaware. These Vacation Home Rentals Feature Exceptional Furnishings, 1st Class Rental Upgrades and Exclusive Resort Amenities You Won't Find Elsewhere in Bethany Beach Delaware, Maryland or New Jersey.Convenient Location just 3 miles to Bethany Beach, DE with Rehoboth Beach, Lewes, Dewey Beach, Ocean City, MD just minutes away. Bear Trap Dunes Resort Features Scenic Views, Neighborhood Charm and Relaxing Small Town Feel with the Finest Vacation Amenities in the Region. These Bethany Beach Rentals are Ideal for Family Vacations, Family Reunions, Vacationing with Friends or for the Perfect Weekend Get-Away.

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Hospitality Management

How Amadeus and PayPal are collaborating to support airlines

Article | July 24, 2023

We know from Amadeus’ recent Travel Payments Guide study that increasingly travelers are moving to new, contactless, payment methods. In fact, 37% of travelers told Amadeus that paying with a non-card method or digital wallet was a top priority. This is good news for the industry as e-wallet payment methods can help play an important role in helping to manage the complexity resulting from the crisis in several ways. PayPal has been working closely with Amadeus for quite some time, offering an alternative payment method to airlines as part of Amadeus’ Payment Platform. This means airlines can decide to offer PayPal to travelers through their websites across global markets with transaction references, helping to ease reconciliation. Thanks to Amadeus’ Agent Pay innovation travelers can also choose to pay with PayPal at the call center or even in face-to-face environments, with a secure link to make payment provided by the agent. But the onset of the pandemic brought new challenges, for which PayPal‘s service is uniquely suited.

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Hospitality Management

Checkout 25 Travel Management Companies Transforming Industry in 2023

Article | June 19, 2023

Discover the solutions and services of the top 25 revolutionary travel management companies that are transforming the industry in 2023. Integrate the one adhering your business needs and budget. Businesses seeking stress-free and streamlined corporate travel solutions can rely on travel management companies. These experts provide customized travel arrangements, taking care of every aspect of business travel, from flight and hotel bookings to travel policy compliance, support, car rentals, and more. With advanced technology and online booking tools, they offer cost-effective deals while ensuring adherence to corporate travel policies. Additionally, they empower businesses to design their travel expense policies, resulting in an enhanced corporate travel experience for employees. 1 Expertise in Field Travel management companies (TMCs) are experts in the field of business travel. They handle emergencies with proper understanding and remedy measures. Some travel risk management companies are specially devised for this purpose. 2 Being More Organized TMCs organize the operations of business travel more efficiently. Business travel involves massive paperwork, especially in big groups and itineraries. The paperwork associated with corporate travel is managed by international travel agencies in a way that is organized, thereby enabling travel companies to allocate their attention to other crucial matters. 3 Making Informed Decisions Employees must adhere to the corporate travel program or policy when they travel for business. Travel policies vary across different organizations and typically encompass guidelines that employees are obliged to follow while traveling. They make travel decisions for the company according to their travel policy. TMCs also advise employees to meet business travel requirements without breaking the company travel policy. 4 Enhanced Networking TMCs have established relationships with travel and hospitality companies worldwide over the years sent in the industry. Business travel companies or clients could get exclusive rates on travel occasions through TMCs. They provide better deals within a travel budget than any direct travel booking. 5 Expense management TMCs are specialized in finding and negotiating the best travel deals with enterprise providers and partners. They have special access to lower rates on the airline, hotel rooms, and transportation. As a result, they reduce overall business travel costs and offer competitive name-brand selections. 6 Business Travel Support The companies can reach out to the travel consultant day and night with business travel support. Furthermore, the employees are free from the stress of tracking various vendors, as they can get all of them on one platform, which is accessible through a variety of different channels. Top 25 Revolutionary Travel Management Companies To enhance their business growth, travel companies can utilize the following list of travel management companies as a reference: 1. Emburse More than 12 million business professionals, including CFOs, finance teams, and travelers, trust Emburse in spend optimization for expense, travel management, and payment solutions. It helps FORTUNE 100 corporations, startups, public sector agencies, and nonprofit organizations, through automation, analytics, and spending control. It streamlines processes and increases spending visibility, compliance, and positive financial outcomes. 2. East West Hospitality East West Hospitality has more than 30 years of success in businesses like association, vacation rental and property management, developer support, hotels, spas, fitness, restaurants, and retail operations. It simplifies complicated travel operations. It makes stay effortless with its extensive experience and local expertise. It offers memorable destination experience through its trusted hospitality services. 3. Wexas Travel Management Wexas Travel Management is a full-service travel provider to companies and organizations that travel on business. It works with businesses in different sectors like financial, legal, marine, oil and gas, insurance and pharmaceuticals. Its consultant-managed and digital tools are customized to individual requirements. With the support of a well-established account management team, it provides a broad range of travel-related services. 4. Nomadix With over 25 years of experience, Nomadix has over 5 million daily internet connections in 150 countries. It helps hotel and property owners, brands, property management groups, and managed service providers (MSPs) with solutions like internet access gateways, application management appliances, visitor-based networks, digital voice assistants, bandwidth management, and managed Wi-Fi. 5. HotelKey HotelKey has direct connectivity to major OTAs or GDS channels. Its all-in-one system includes core PMS, built-in CRS distribution, automated revenue management, property website hosting, and a no-commission direct bookings engine. In addition, its platform provides web apps for the back of the house and mobile apps for the front desk, housekeeping, and maintenance teams. 6. Bonotel Exclusive Travel Bonotel Exclusive Travel, an inbound tour operator for luxury travel, offers exclusive deluxe hotels, resorts, and upscale boutique properties. It has a vast network of suppliers, direct access to the international client base, and tour operators worldwide. It has developed strong business relations with tour operators and can provide access to hotel partners which makes it unique. 7. Peachtree Hospitality Management Peachtree Hospitality Management, a division of Peachtree Hotel Group, is a best-in-class hotel management company that creates loyalty among the stakeholders like associates, guests, and owners. Its proprietary systems and processes maximize financial performance, enhancing efficiency and customer experience. In addition, it provides dedicated hotel management services with the extension of expertise to owners as a third-party hotel manager. 8. AmTrav AmTrav enhances the productivity of business travel. It offers services for expense management, corporate travel, software, travel productivity, and business travel management. In addition, its platform provides personal service with travel experts and relationship managers through advanced technology, which is helpful for business travelers, travel arrangers, and travel managers. 9. Boatsetter Boatsetter, a leisure, travel & tourism company, is specialized in boat rental and charter, collaborative consumption, marine industry, travel, and adventure. It has partnered with GEICO and BoatUS to design an exclusive Peer-to-Peer Boat Rental Policy, inspiring boat owners’ engagement and encouraging entrepreneurship on the water. It helps to review the booking requests and inquiries from renters, manage all their bookings on the website or the application, and the payouts, which are processed quickly and connected to their bank account directly. 10. Norse Atlantic Airways Norse Atlantic Airways offers affordable transatlantic flights with environment-friendly and comfortable Boeing 787 Dreamliner aircraft. It offers affordable fares to destinations and service on board modern and fuel-efficient Dreamliners for corporate and personal travel. It strengthens the employer-employee relationship and has entered into collective bargaining agreements with cabin crew and pilot unions in the U.S., U.K. and Norway. It incorporates a low-cost business model and approach for the cost-efficient airline without prior financial restraints. 11. InsureMyTrip InsureMyTrip, an online travel insurance comparison site, serves customers worldwide with its licensed customer services. Its unique customer advocacy program provides assistance throughout the travel journey. It provides recommendations of best plans per the trip details and the best travel insurance plan that matches the traveler’s need, irrespective of the commission or company, with a money-back guarantee. In addition, its licensed representatives, Anytime Advocates, help with the insurance claim process. 12. Sonder Inc. Sonder Inc., a hospitality company, provides a seamless business travel management experience through technology and innovation. It offers a variety of accommodation options, from rooms to suites and apartments. Its application empowers guests with self-service features and 24/7 support. Without any formality, it offers simple self-check-in to boutique bathroom amenities. 13. Operto Guest Technologies Operto Guest Technologies, a hospitality automation and IoT operating system for vacation rentals, hotels, and serviced apartments, is revolutionizing hospitality management. It provides personalized stays, contactless check-in, guest satisfaction, operational efficiency and more revenue opportunity through technology that connects teams, guests, managers, smart devices and ancillary third-party service providers. With purpose-built software and smart IoT devices, it offers property managers unique real-time visibility and control. Its automation features include integrated keyless entry, energy savings, noise and occupancy monitoring, and personalized in-suite technology. 14. Life House Life House is a vertically integrated hotel software, brand, and management company. It provides operational expertise to build robust software to enhance profitability and operational ease in independent hotels. It specializes in hotel software development, financial reporting, interior design, product management and operations, hotel management, and enterprise SaaS. 15. PCH Hotels and Resorts PCH Hotels and Resorts is a franchised management company with Marriott. Beginning with the acquisition of the Grand Hotel Resort & Spa, PCH has grown to become the top hospitality employer in Alabama. Currently, PCH manages four Renaissance Marriott resort properties, three Marriott resort properties, one Autograph Collection resort, one select service IHG property, and one Outlet Shop. Each property is minutes from the extensive world-class Robert Trent Jones Golf Trail. 16. Spotnana Spotnana powers unparalleled global travel experiences. It modernizes the travel industry's infrastructure to bring travelers freedom, simplicity, and trust everywhere. Its travel-as-a-service platform makes travel simpler and affordable for corporations. It's our ecosystem of agency, supplier, and technology provider partners to increase operational efficiency, new revenue opportunities, and innovation. 17. GetYourGuide GetYourGuide is a travel bookingplatform connecting travel enthusiasts, experts, and technologists with people. It helps in discovering the destination’s best activities and attractions. In addition, it simplifies the digital travel reality by offering data-driven insights, technology, and market expertise through its destination management company database. 18. VTrips VTrips offers services for vacation rental property management, guest management with dedicated property managers and best advertising and marketing approach. It is the premier property management company serving in Alabama, Florida, Georgia, Hawaii, Maryland, New Mexico, North Carolina, South Carolina, Tennessee, and Texas. It also provides vacation rental guest experiences through its quality management and personalized services for real estate and corporate travel. 19. Trip.com Trip.com specializes in OTA, flight tickets, hotel booking, train tickets, and internet services. It has an extensive hotel network for a diverse choice of accommodation. Its flight network has over 2 million individual flight routes connecting more than 5,000 cities around the globe. It combines 24/7 English customer service and various travel products necessary for a successful trip. 20. Deem, Inc. Deem, Inc., a corporate travel booking software, helps in policy adherence, better travel decisions, employee engagement, and cost control through secure solutions. It allows travel managers to customize their travel programs. It integrates into travel and expense management companies & travel agencies with powerful APIs and design. 21. Mondee Holdings, Inc. Mondee Holdings, Inc is a group of travel technology, service, and content companies driving innovation in the leisure, corporate, and retail travel markets. It delivers a revolutionary technology platform of SaaS, mobile, and cloud products and services to a global customer base. Major corporations, SMBs, travel agencies, and new gig economy workers use its easy-to-use technology platforms to access global travel content, services, and products. Corporations like Rocketrip and TripPlanet trust it for cost-saving, employee safety, and sustainable future. 22. Priceline Priceline, a part of Booking Holdings, Inc., provides the best deals for hotel rooms, flights, rental cars, vacation packages and cruises. It specializes in online travel services and ecommerce through its internet publishing platform. It uses cloud computing to provide personalized and alternative recommendations for travel. 23. Egencia Egencia, an American Express Global Business Travel Company, is a B2B travel tech platform. As part of the valuable marketplace in business travel, it provides data insights and AI-driven innovation that power the travel programs of 9000+ companies in more than 60 countries. It specializes in online business travel booking, purchasing, technology, travel management, corporate travel management, and travel app. 24. Forbes Travel Guide Forbes Travel Guide renders hotel, restaurant, and spa reviews, travel advice, learning tools, service training, guest experience, and customer services. Its star rating standards reflect the industry's highest levels of service and facility measurement worldwide. With experience in the industry, it provides more reliable information about the travel recommendations and booking. 25.ADTRAV ADTRAV provides technology solutions for business travel management of corporations, government agencies, and non-profit organizations. Through the help of federal contractors, it maintains compliance with federal travel regulations and fulfills the audit requirements of the DCAA with its government travel expertise. Conclusion Collaboration with travel management companies has many advantages, like expense management, business travel support, enhanced networking, making informed decisions, being more organized, and expertise in the field. However, business travel must integrate with the companies according to their budgets and requirements. The travel companies must keep aside the stress of planning, booking & tracking the travel vendors for employees' business travel and rely on TMCs for a cost-effective and comfortable corporate travel experience.

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Business Travel

Top 5 Ways Big Data is Transforming the Travel Industry Businesses

Article | May 17, 2023

Data science has lead to marvelous opportunities for many industries. Like so many other industries, the travel industry would greatly benefit from knowing future travel information in advance. Fortunately, there is no need to rely on some fortunetellers anymore, but take advantage of Big Data. Big Data in the travel industry is driving in the right direction, especially after the pandemic, as companies had to be more technologically advanced to cater to their regular operations effortlessly. And big data is now transforming the way businesses used to conduct their operations. It has started taking care of everything that a traveler expects from the traveling organizations in terms of personalized offers to products and more. In this digital period, where everything is hyperconnected, new technologies and big data analysis have become essential for the travel industry to adopt new consumption models and improve the decision-making process. Many industry leaders are already using big data in the travel industry. Still, but you may not understand the real value it can provide for your business or how is big data being used in the travel industry. With a closer look at the ways big data is transforming the travel industry, you can determine how your business can benefit from its use. Before you reach this point, a brief about significant big data challenges in the travel industry can help you understand how you can improve your company. What were Big Data Challenges? Data capture Unorganized structure of data Speed Privacy and security Data ownership Data handling Data storage 5 Ways Big Data is being Used in Travel Industry Businesses So how exactly is big data going to affect your company? Amadeus's research study identifies two segments of change, one is the operations, and the other is marketing strategies. Greater Personalization Companies in the travel industry, such as car rental companies, tour operators, airlines, and more, must find a way to improve their overall functionalities to meet goals. To stand out, you must have a unique approach to market your products. Using big data, you can easily pinpoint exactly what employees are looking for and then establish a concrete base right out of the gate. When it comes to greater personalization offerings, effective uses of big data analytics help making well-informed decisions. By using big data analytics, the applications provide wide-ranging personalization offerings such as promotions, deals, referrals, and more, keeping an aim to generate revenue. Identification of Potential Risks Currently, businesses are struggling to deal with high-risk environments, where a proper risk management process is the need of the hour. Big data in the travel industry has been instrumental in developing new risk management solutions and can enhance the effectiveness of risk management models and build intelligent strategies. This is one potential power of big data is transforming the travel industry. Pricing strategies Price is a critical component to set under marketing strategies. Big data used by travel companies can easily track, analyze, and file the competitors’ prices to get a clear picture of what’s trending. This real-time analytics can help your company track pricing changes and build a consistent pricing strategy for a better workflow for employees. Price strategies can turn into a game-changer for your business goals in the future. Through a transparent idea of what competitors are implementing in their process, your business can execute optimum pricing strategies that would considerably benefit your company by predicting future demand. Security Enhancements As the amount of online transactions has amplified steadily over the years, the rate of fraud has also increased simultaneously. Losing customer data can destroy your business’s reputation. Big data in the travel industry allows companies to plan and implement software that would increase safeguards on sensitive information by leveraging types of technologies, including natural language processing, video recognition, speech recognition, machine learning engines, and automation. This is considered one of the best solutions for how big data is helping the travel industry. Revenue Management Travel businesses use big data analysis to manage their revenue. Big data in the travel industry has become one essential part of companies that effectively maximizes financial aspects. If you have set a goal in your company to achieve specific revenue, then it is crucial to define a market strategy to offer corporate travelers the right services through the right channel. Because of this, you can manage the prices to maximize the revenue of your company. Benefits of Big data From a humble beginning of big data in tourism before the pandemic, it has become a mainstay in the business world. Big data solutions and big data analytics will not only foster taking data-driven decision, but also empower your workforce that add value to your business. According to Harvard Business Review, 99% of companies surveyed reported that they intend to implement big data analytics and AI in the near future. What are other significant big data benefits that you should inculcate it in your business? Here are some of these: Big data benefits for the travel industry by offering real-time monitoring, forecasting of business, and the market. Unlock the true potential of data-driven marketing. Facilitate faster delivery of services and products that meet and exceed the client’s expectation. How Businesses can Analyze Big Data? To understand big data, you firstly need to know the points that need solutions. Then, attempt to identify the answer to your questions such as, ‘how can I get the data to solve it?’ or ‘what can big data do for my business?’ Your big data solutions need to be effortless. It is important to match what you had in mind for pricing and make it flexible to serve your business in the future. Research the most reliable big data tool so that it can serve to provide you the right solution. For example, if you want to introduce more effective promotions and marketing campaigns, you can use Canopy Labs, to predict big data travel behavior and sales trends. The travel and tourism industry uses big data with the help of several tools that are inexpensive or even free to use. Google also has user-friendly tools like Google Adwords and Google BigQuery. So, don’t feel overwhelmed by all the data that’s out there. With the right tools, you can separate the data to find what you need to start growing your business today! Some Success Stories KAYAK sets an example of using big data in the travel industry by innovation and spearheads the technological revolution. It has developed a new benchmark in the travel industry using big data for travel management and operations. United Airlines embraced a “collect and analyze” approach to their big data for travel planning. The company tracks all information using real-time data, including individual and general historical data. The Schiphol Group, which operates the airport, has reportedly invested in data science packages. A team of big data analysts easily analyze, report, and visualize the constant influx of data of employees on corporate trips. These developments are reflective of the growing big data analytical trends in the travel and tourism industry. Following the steps of industry leaders, a lot of companies have started the adoption of big data for travel management and improvising their analytical tools to make more informed decisions for future travel mechanism. You can get more interesting and updated news to rely on how big data in the travel industry is transforming. Future Outlook of Big Data in Travel Industry Many industry leaders are talking about big data in the travel industry, its evolving benefits and the future of big data within the tourism industry. With the effective uses of big data, your company can use information about employees catering to corporate business services to understand the workflow. Hadoop, one of the big data applications in the travel industry, provide suffecient data storage space and presents information from a wide range of sources in a structured manner. It enables tourism companies to take immediate decisions as per requirements. Big Data applications in the travel industry help companies introduce new products to have predictive analysis and critical insights about corporate travelers. What could be anticipated from the future of big data is that travel industry professionals will progressively utilize big data to facilitate their potential benefit. This will genuinely modify what companies would offer corporate travelers equally in the future. With such activities to cater the markets worldwide, big data in the travel industry has formed a clear map. Frequently Asked Questions How is big data being used in the travel industry? Big data in the travel industry is used to observe various marketing strategies and some customer-related patterns and trends. Following these is important to create loyalty among employees as well as customers also. Therefore, the more data a business collects, the more it will understand ways to generate revenue. What is the future of big data in travel industry? The future of big data in the travel industry stays impressive as the market leaders can make decisions that are more informed based on analytics and number-driven data. Big data in the future will boost the efficiency of the services and the quality at the same time. How big data is helping the travel industry? Big data is helping the travel industry in many ways. It is allowing businesses to make more evidence-driven decisions for revenue. These include the ability to anticipate customers' future demands accurately, re-structure pricing, target more marketing strategies, and improve real marketing tricks. { "@context": "https://schema.org", "@type": "FAQPage", "mainEntity": [{ "@type": "Question", "name": "How is big in the travel industry being used?", "acceptedAnswer": { "@type": "Answer", "text": "Big data in the travel industry is being used with intent to observe various marketing strategies and some customer-related patterns and trends. 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These include the ability to anticipate customers' future demands accurately, re-structure pricing, target more marketing strategies, and improve real marketing tricks." } }] }

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This too shall pass - but travel will need to adjust

Article | April 13, 2020

Just over a month ago, many of us sat in our offices, surrounded by colleagues, engaged in deep discussions about how best to leverage the increasing demand in travel this year. As per the World Tourism Organization's (UNWTO) forecasts from earlier this year, international tourist arrivals were expected to grow by 4% in 2020, which is not as great as the growth seen in 2017 (7%) and 2018 (6%), but it was still enough to continue fueling the tourism industry, which contributes to about 10.4% of the global GDP and approximately 319 million jobs. We were blissfully unaware of the looming threat of the COVID-19 global pandemic. In fact, several parts of the world failed to take notice of this crown-shaped virus that was about to bring everything to a grinding halt, until March 11, when the World Health Organization officially announced it as a pandemic.

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Spotlight

Bethany Beach Home Rentals

Bethany Beach Home Rentals provides Vacation Home Rentals at Bear Trap Dunes resort in Bethany Beach, Delaware. These Vacation Home Rentals Feature Exceptional Furnishings, 1st Class Rental Upgrades and Exclusive Resort Amenities You Won't Find Elsewhere in Bethany Beach Delaware, Maryland or New Jersey.Convenient Location just 3 miles to Bethany Beach, DE with Rehoboth Beach, Lewes, Dewey Beach, Ocean City, MD just minutes away. Bear Trap Dunes Resort Features Scenic Views, Neighborhood Charm and Relaxing Small Town Feel with the Finest Vacation Amenities in the Region. These Bethany Beach Rentals are Ideal for Family Vacations, Family Reunions, Vacationing with Friends or for the Perfect Weekend Get-Away.

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Travel Technology

TripActions Raises $275M AT $7.25B Valuation

TripActions | October 14, 2021

In less than a year, TripActions has secured a second massive funding round – this time $275 million in Series F growth funding. The round was led by Greenoaks Capital with participation from prior investors Elad Gil, Base Partners and all key existing financial investors and values TripActions at $7.25 billion on a post-money basis. The funding comes less than nine months after TripActions' Series E round of $155 million in January. The travel management company's total funding to date is nearly $1.3 billion. Is an IPO coming soon for the six-year-old company? Michael Sindicich, general manager of TripActions Liquid, the company’s payment and expense management solution, says while an IPO would be a “natural fundraising opportunity and another milestone in our growth,” it is not planned for the near future. “We’ve got quite a lot of cash. We’re making great revenue. We are not in any rush to take the company public at this time,” Sindicich says. The vote of confidence from investors, he says, confirms TripActions’ belief that travel and expense management is “ripe for a tech makeover.” Despite the global impact of COVID-19 on travel, TripActions says it has now exceeded pre-pandemic levels in terms of bookings and revenue and has more than doubled its aggregate travel budget under management from February 2020 through the end of July this year. The gains are due in part to a focus on acquiring new enterprise customers, targeted with the launch of TripActions Enterprise Edition in September 2020. Clients include Heineken, Crate & Barrel, Snowflake, Thomson Reuters and Adobe. “We were there for these customers, they were switching from legacy travel agencies and booking tools, legacy expense platforms, because we were innovating, we were supporting, we were adapting to the way the new world would operate moving forward and that gave them a lot of confidence to actually make a change.” Michael Sindicich, general manager of TripActions Also adding fuel to TripActions' growth in the last 18 months: the launch of Liquid in February 2020, first as a payment solution and then in October 2020 adding expense management tools. Sindicich says transaction volume is similar for Liquid as for core travel, and more than 90% of the new companies TripActions is bringing onboard use its full suite of solutions for corporate travel, expense, spend and payment management. “Seventy-percent of expenses happen while employees are on trips,” he says. “So we’re learning about the power of the end-to-end solution. We built Liquid as a separate team in the beginning... and are now seeing that both platforms together, it’s a one-plus-one-equals-three type of situation.” Along with continuing to develop these products, TripActions will accelerate development of Lemonade, its personal travel booking solution that launched in October 2020. Lemonade gives employees at TripActions’ client companies’ access to negotiated rates and exclusive deals, notifications about COVID requirements and around-the-clock support for their leisure trips. The company is also continuing to develop TripActions Team Travel, a self-serve solution that launched in June to facilitate gatherings of distributed employees. Earlier this month it added support for meetings and events to Team Travel, leveraging the capabilities it gained with its acquisition of Reed & Mackay in May. TripActions will also add staff globally, expand its efforts in Europe, the Middle East and Africa – Europe now represents 30% of TripActions’ business - and, says Sindicich, continue to look for merger and acquisition opportunities. “We’re always looking for companies that would make sense to acquire and work with and add to the portfolio so this could be another deployment of this capital as well,” he says. “There’s not a prospect we are announcing or have in mind right now, but it would be natural for us to also look at other opportunities as well since we see Reed & Mackay is working so well for us.”

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Features and Advice

American Express GBT, Cvent Add Corporate Responsibility Questions To Hotel RFP

Cvent, American Express Global Business Travel | September 06, 2021

In an effort to gather and standardize data related to corporate social responsibility efforts at hotels, American Express Global Business Travel (GBT) and Cvent have created new questions for suppliers to answer as a supplement to the Global Business Travel Association’s request for proposals template. The joint initiative includes 47 questions focused on sustainability, diversity, equity and inclusion that are intended to help travel managers evaluate suppliers on these issues. To develop the questions, GBT’s Global Business Consulting team (GBC) and Cvent interviewed corporations, global hotel brands, travel management companies and consultancies. The companies say along with helping travel managers evaluate hotels, the questions benefit hotels by reducing the time needed to respond to individual requests for information on these topics. “As we accelerate the return to travel and events, customer requests for supplier data on corporate responsibility issues are soaring,” says Nina Marcello, a principal within GBC who first proposed the initiative. “Together, GBC and Cvent worked with stakeholders across corporate and meetings travel to deliver a solution that will increase the availability of relevant sustainability and DE&I data. This initiative reflects our own environmental, social and governance commitments and enables suppliers and travel managers around the world to further their corporate responsibility goals. ” Hotel suppliers answer the supplemental questions, related to things such as carbon emissions and leadership demographics, within the Cvent Transient solution. Hotel chains can also work with their properties to collect and import the information to their profiles. “The speed at which we developed these questions reflects the significance of this work, and they are already being used by our hotel clients. This initiative benefits the entire corporate travel supply chain by facilitating the sharing and reporting of important topics that impact every organization,” says Brian Sullivan, senior director of product management at Cvent.

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Travel Technology

HUAWEI INVESTS $100M IN STARTUPS, MAKES FIRST TRAVEL MOVE IN MIDDLE EAST

Huawei | August 26, 2021

As part of its move away from hardware, Huawei is scaling up its cloud services and startup support in Asia Pacific and, while travel and hospitality is not top of mind yet, its move into this vertical seems inevitable with the expansion of its headquarters in Singapore and a recent first move in the Middle East. Huawei, facing pressure in Western markets and a slowdown in consumer business amid U.S. sanctions, has been steadily moving its focus away from manufacturing to become a tech and software company that believes “deeply in the power of digital technology to provide fresh solutions to the problems the world is facing right now. "We will keep on innovating to help build a low-carbon, intelligent world,” said Eric Xu, Huawei’s Rotating Chairman, at the release of business results for the first half earlier this month. In the Middle East, travel marketplace Wego is the first travel player to sign a partnership with Huawei’s Petal Search to integrate the travel app into Huawei smartphones. “The world of travel and hospitality has entered a new era of m-commerce, as more than 60% of travellers rely entirely on smartphone applications when making their travel plans. Pre-installing the Wego app into smartphones is part of our continuous efforts to enable these travellers to get the best deals and options when shopping for their holiday,” says Mamoun Hmedan, Wego managing director for MENA and India. From May, all Huawei smartphones EMUI 5 and above bundled with the Wego app will be made available across stores in the United Arab Emirates, Saudi Arabia, Oman, Bahrain, Kuwait, Iraq, Egypt, Lebanon, Jordan, Morocco, Algeria, Tunisia and Pakistan. “Over the last few years, we have been noticing a significant rise in the number of Wego users on Huawei devices. Interestingly, it has also been noted that Huawei smartphone users tend to spend more on travel than the average Android user,” says Hmedan. In the startup space, Huawei announced its plan to invest $100 million in the ecosystem, with the funds going towards its Spark Program in the Asia Pacific region over the next three years. Singapore, Hong Kong, Malaysia and Thailand are the priority markets and at the Huawei Cloud Spark Founders Summit in July, it announced the programme would develop four additional startup hubs – Indonesia, the Philippines, Sri Lanka, and Vietnam. The overarching aim is to recruit a total of 1,000 startups into the Spark accelerator program and shaping 100 of them into scaleups. Speaking at the Summit, Huawei senior vice president and board member Catherine Chen said 34 years ago, Huawei was a startup with just $5,000 of registered capital. “Recently, we have been thinking: How can we leverage our experience and resources to help more startups address their challenges? Doing so would allow them to seize the opportunities posed by digital transformation, achieve business success, and develop more innovative products and solutions for the world.” Alexis Lee, Spark program manager at Huawei Cloud and AI Asia Pacific, who joined the team in January, told WebInTravel that 40 startups came through in the first cohort and about eight to 10 were identified to enter the “Spark Fire” programme, an accelerator. Zhang Ping’an, senior vice president of Huawei, CEO of Huawei Cloud BU, and president of Huawei Consumer Cloud Service, announced at the Summit that “we have already helped four of these startups launch new products and completely transform their businesses, while helping eight enter new markets”. It is currently in the midst of selecting the second cohort – entries closed last week. Lee, who previously worked in the investor space and was at Grab for two years, said how Huawei differentiated from other accelerators in Singapore is in its business development strength. “We introduce startups to clients, obviously in China, as well as global. China is obviously the most attractive market for scale up.” It does not take equity, rather it invests in kind, offering cloud infrastructure support in credits as well as a strong mentoring and investor network. “The programme is about building up the startup community, and sharing our resources. We have the tech know-how and the client network to help startups scale.” Areas of interest include anything to do with AI, ML or 5G and industry verticals include fintech, logistics, smart cities, ad tech and insurance tech. Huawei says its global HMS ecosystem is the world’s third largest mobile app ecosystem, serving 4.5 million developers in over 170 countries and regions. The goal is to cultivate over 100,000 HMS cloud-native developers in Asia Pacific over three years. Huawei Cloud is second in China and fifth in the global IaaS market.

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Travel Technology

TripActions Raises $275M AT $7.25B Valuation

TripActions | October 14, 2021

In less than a year, TripActions has secured a second massive funding round – this time $275 million in Series F growth funding. The round was led by Greenoaks Capital with participation from prior investors Elad Gil, Base Partners and all key existing financial investors and values TripActions at $7.25 billion on a post-money basis. The funding comes less than nine months after TripActions' Series E round of $155 million in January. The travel management company's total funding to date is nearly $1.3 billion. Is an IPO coming soon for the six-year-old company? Michael Sindicich, general manager of TripActions Liquid, the company’s payment and expense management solution, says while an IPO would be a “natural fundraising opportunity and another milestone in our growth,” it is not planned for the near future. “We’ve got quite a lot of cash. We’re making great revenue. We are not in any rush to take the company public at this time,” Sindicich says. The vote of confidence from investors, he says, confirms TripActions’ belief that travel and expense management is “ripe for a tech makeover.” Despite the global impact of COVID-19 on travel, TripActions says it has now exceeded pre-pandemic levels in terms of bookings and revenue and has more than doubled its aggregate travel budget under management from February 2020 through the end of July this year. The gains are due in part to a focus on acquiring new enterprise customers, targeted with the launch of TripActions Enterprise Edition in September 2020. Clients include Heineken, Crate & Barrel, Snowflake, Thomson Reuters and Adobe. “We were there for these customers, they were switching from legacy travel agencies and booking tools, legacy expense platforms, because we were innovating, we were supporting, we were adapting to the way the new world would operate moving forward and that gave them a lot of confidence to actually make a change.” Michael Sindicich, general manager of TripActions Also adding fuel to TripActions' growth in the last 18 months: the launch of Liquid in February 2020, first as a payment solution and then in October 2020 adding expense management tools. Sindicich says transaction volume is similar for Liquid as for core travel, and more than 90% of the new companies TripActions is bringing onboard use its full suite of solutions for corporate travel, expense, spend and payment management. “Seventy-percent of expenses happen while employees are on trips,” he says. “So we’re learning about the power of the end-to-end solution. We built Liquid as a separate team in the beginning... and are now seeing that both platforms together, it’s a one-plus-one-equals-three type of situation.” Along with continuing to develop these products, TripActions will accelerate development of Lemonade, its personal travel booking solution that launched in October 2020. Lemonade gives employees at TripActions’ client companies’ access to negotiated rates and exclusive deals, notifications about COVID requirements and around-the-clock support for their leisure trips. The company is also continuing to develop TripActions Team Travel, a self-serve solution that launched in June to facilitate gatherings of distributed employees. Earlier this month it added support for meetings and events to Team Travel, leveraging the capabilities it gained with its acquisition of Reed & Mackay in May. TripActions will also add staff globally, expand its efforts in Europe, the Middle East and Africa – Europe now represents 30% of TripActions’ business - and, says Sindicich, continue to look for merger and acquisition opportunities. “We’re always looking for companies that would make sense to acquire and work with and add to the portfolio so this could be another deployment of this capital as well,” he says. “There’s not a prospect we are announcing or have in mind right now, but it would be natural for us to also look at other opportunities as well since we see Reed & Mackay is working so well for us.”

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Features and Advice

American Express GBT, Cvent Add Corporate Responsibility Questions To Hotel RFP

Cvent, American Express Global Business Travel | September 06, 2021

In an effort to gather and standardize data related to corporate social responsibility efforts at hotels, American Express Global Business Travel (GBT) and Cvent have created new questions for suppliers to answer as a supplement to the Global Business Travel Association’s request for proposals template. The joint initiative includes 47 questions focused on sustainability, diversity, equity and inclusion that are intended to help travel managers evaluate suppliers on these issues. To develop the questions, GBT’s Global Business Consulting team (GBC) and Cvent interviewed corporations, global hotel brands, travel management companies and consultancies. The companies say along with helping travel managers evaluate hotels, the questions benefit hotels by reducing the time needed to respond to individual requests for information on these topics. “As we accelerate the return to travel and events, customer requests for supplier data on corporate responsibility issues are soaring,” says Nina Marcello, a principal within GBC who first proposed the initiative. “Together, GBC and Cvent worked with stakeholders across corporate and meetings travel to deliver a solution that will increase the availability of relevant sustainability and DE&I data. This initiative reflects our own environmental, social and governance commitments and enables suppliers and travel managers around the world to further their corporate responsibility goals. ” Hotel suppliers answer the supplemental questions, related to things such as carbon emissions and leadership demographics, within the Cvent Transient solution. Hotel chains can also work with their properties to collect and import the information to their profiles. “The speed at which we developed these questions reflects the significance of this work, and they are already being used by our hotel clients. This initiative benefits the entire corporate travel supply chain by facilitating the sharing and reporting of important topics that impact every organization,” says Brian Sullivan, senior director of product management at Cvent.

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Travel Technology

HUAWEI INVESTS $100M IN STARTUPS, MAKES FIRST TRAVEL MOVE IN MIDDLE EAST

Huawei | August 26, 2021

As part of its move away from hardware, Huawei is scaling up its cloud services and startup support in Asia Pacific and, while travel and hospitality is not top of mind yet, its move into this vertical seems inevitable with the expansion of its headquarters in Singapore and a recent first move in the Middle East. Huawei, facing pressure in Western markets and a slowdown in consumer business amid U.S. sanctions, has been steadily moving its focus away from manufacturing to become a tech and software company that believes “deeply in the power of digital technology to provide fresh solutions to the problems the world is facing right now. "We will keep on innovating to help build a low-carbon, intelligent world,” said Eric Xu, Huawei’s Rotating Chairman, at the release of business results for the first half earlier this month. In the Middle East, travel marketplace Wego is the first travel player to sign a partnership with Huawei’s Petal Search to integrate the travel app into Huawei smartphones. “The world of travel and hospitality has entered a new era of m-commerce, as more than 60% of travellers rely entirely on smartphone applications when making their travel plans. Pre-installing the Wego app into smartphones is part of our continuous efforts to enable these travellers to get the best deals and options when shopping for their holiday,” says Mamoun Hmedan, Wego managing director for MENA and India. From May, all Huawei smartphones EMUI 5 and above bundled with the Wego app will be made available across stores in the United Arab Emirates, Saudi Arabia, Oman, Bahrain, Kuwait, Iraq, Egypt, Lebanon, Jordan, Morocco, Algeria, Tunisia and Pakistan. “Over the last few years, we have been noticing a significant rise in the number of Wego users on Huawei devices. Interestingly, it has also been noted that Huawei smartphone users tend to spend more on travel than the average Android user,” says Hmedan. In the startup space, Huawei announced its plan to invest $100 million in the ecosystem, with the funds going towards its Spark Program in the Asia Pacific region over the next three years. Singapore, Hong Kong, Malaysia and Thailand are the priority markets and at the Huawei Cloud Spark Founders Summit in July, it announced the programme would develop four additional startup hubs – Indonesia, the Philippines, Sri Lanka, and Vietnam. The overarching aim is to recruit a total of 1,000 startups into the Spark accelerator program and shaping 100 of them into scaleups. Speaking at the Summit, Huawei senior vice president and board member Catherine Chen said 34 years ago, Huawei was a startup with just $5,000 of registered capital. “Recently, we have been thinking: How can we leverage our experience and resources to help more startups address their challenges? Doing so would allow them to seize the opportunities posed by digital transformation, achieve business success, and develop more innovative products and solutions for the world.” Alexis Lee, Spark program manager at Huawei Cloud and AI Asia Pacific, who joined the team in January, told WebInTravel that 40 startups came through in the first cohort and about eight to 10 were identified to enter the “Spark Fire” programme, an accelerator. Zhang Ping’an, senior vice president of Huawei, CEO of Huawei Cloud BU, and president of Huawei Consumer Cloud Service, announced at the Summit that “we have already helped four of these startups launch new products and completely transform their businesses, while helping eight enter new markets”. It is currently in the midst of selecting the second cohort – entries closed last week. Lee, who previously worked in the investor space and was at Grab for two years, said how Huawei differentiated from other accelerators in Singapore is in its business development strength. “We introduce startups to clients, obviously in China, as well as global. China is obviously the most attractive market for scale up.” It does not take equity, rather it invests in kind, offering cloud infrastructure support in credits as well as a strong mentoring and investor network. “The programme is about building up the startup community, and sharing our resources. We have the tech know-how and the client network to help startups scale.” Areas of interest include anything to do with AI, ML or 5G and industry verticals include fintech, logistics, smart cities, ad tech and insurance tech. Huawei says its global HMS ecosystem is the world’s third largest mobile app ecosystem, serving 4.5 million developers in over 170 countries and regions. The goal is to cultivate over 100,000 HMS cloud-native developers in Asia Pacific over three years. Huawei Cloud is second in China and fifth in the global IaaS market.

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