How finance teams can proactively manage travel spend before it happens

May 26, 2021 | 176 views

Controlling how employees spend company money on travel has been one of the biggest historic challenges for finance teams. Most company spend is governed by purchase orders, with payments made in relation to specific invoices from the company’s own bank. The data is available transparent and can be analyzed to spot any inconsistencies. But controlling travel spend, which is most company’s largest discretionary spend area, is much harder.

Employees increasingly organize their own travel, empowered by corporate self-booking tools for search, booking, and payment. This can help with visibility, particularly if the corporate uses lodge or virtual cards to pay. However, pre-trip spend like air and hotel bookings only represent 50-60% of the money spent on travel. What about the rest?

Spotlight

Pathfinder Travels

Pathfinder's idea is quite simple. We want to give you strong experiences in spectacular and beautiful mountain environments. We do this by arranging ski and hiking trips, top climbs and special trips. We often choose to go to areas and countries that make the journeys loaded with a cultural dimension and that makes the travel experience itself bigger. Our travels are very much characterized by how we think it should be traveling. Forget all that big groups, tourist traps and traditional travel guides are called. Small groups, flexibility and personal service are rather our sign. We have since the start in 1999 strived to create unique, self-produced trips with Swedish tour guides. Pathfinder was among the first in Sweden to arrange ski trips to countries such as Iran and Morocco.

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FEATURES AND ADVICE

Which Technologies Are Transforming Travel in 2020?

Article | January 21, 2021

Like most industries, the travel and tourism sector is experiencing a tech revolution. Innovative new technology is disrupting old methods and transforming the shape of the industry. In fact, the travel and tourism sector is in a significant growth period, mostly driven by tech advancements. Certainly, tech has been the driving force behind making it easier for people to access travel. Of course, the notion of technology reshaping industries is something that is happening across sectors. When looking at how tech is changing travel, we can also see similar movements in other areas of business. For example, the gambling industry is being driven into interesting new areas by technology, with sites like bet-ny.com providing a full casino experience online. This push has allowed people to access betting in innovative new ways and from anywhere at any time, provided they have an internet connection.

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TRAVEL TECHNOLOGY, BUSINESS TRAVEL

Why tourism providers are still working on travel personalisation

Article | July 20, 2022

It should come as no surprise that even as we enter the new decade, industries such as retail and travel are seeing continued investments in digital platforms and solutions aimed at delivering hyper personalisation. The reason is that millennials have risen in purchasing power, becoming the dominant driver of business and growth. Any business that market its products or services to this audience must adapt and develop innovative approaches to address dramatic shifts in customer behaviour, as well as the demands for mobile and social media.

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BUSINESS TRAVEL, INDUSTRY OUTLOOK

Travel tech pros put sustainability behind economy as key challenges for 2020

Article | June 29, 2022

Economic uncertainty is deemed to be the biggest challenge facing the travel industry, ahead of climate change and sustainability issues, according to new research. A survey by Travel Technology Europe, sister brand of PhocusWire, reveals that 53% of those polled put economic conditions at the top of the list of concerns followed by sustainable travel at 45% and climate change at 44%. The study was carried out in the run-up to the United Kingdom's general election in early December 2019, so the challenge of economic uncertainty is not that surprising.

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FlightHub & JustFly on robots and travel

Article | February 10, 2020

Over the past decade the travel industry has seen waves of technological trends: mobile booking, voice search, augmented reality, and more. The use of robots in travel is one such trend. It’s changing the way people travel and taking the world literally by storm. The potential impact of robots on the tourism and hospitality sector can’t be understated. Chatbots, programmable suitcases, and security bots are a few examples of how robots may be changing the way travelers navigate the globe forever. FlightHub and JustFly discuss why robots are a technological trend the travel industry should look forward to.

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Spotlight

Pathfinder Travels

Pathfinder's idea is quite simple. We want to give you strong experiences in spectacular and beautiful mountain environments. We do this by arranging ski and hiking trips, top climbs and special trips. We often choose to go to areas and countries that make the journeys loaded with a cultural dimension and that makes the travel experience itself bigger. Our travels are very much characterized by how we think it should be traveling. Forget all that big groups, tourist traps and traditional travel guides are called. Small groups, flexibility and personal service are rather our sign. We have since the start in 1999 strived to create unique, self-produced trips with Swedish tour guides. Pathfinder was among the first in Sweden to arrange ski trips to countries such as Iran and Morocco.

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PCH Hotels & Resorts Opens Third-party Hotel Management Services

PCH Hotels & Resorts | March 16, 2023

PCH Hotels & Resorts, a hospitality solutions provider, has recently announced that it has expanded its services to open third-party hotel management services for the additional ownership groups. PCH Hotels & Resorts has been working for different properties with a combined operational experience of about 200 years. It has achieved many awards and accolades like Marriott’s recognition, IHG and travel-based publications. It offers services for hotel operations, revenue management, food & beverage management, spa, capital budget management, accounting, human resources and IT solutions. Its operational team suggests a strategic and data-driven approach for positive topline development, budgeting, market share growth, community stewardship and guest experiences. It focuses on experiential lifestyle hotels and resorts while operating many F&B outlets and European spas. It outranks both branded and independent boutique hotels in the Southern U.S. Its additional acquisition and development abilities include due diligence assistance, brand selection and evaluation, capital expenditure assessment and CAPEX plan development, repositioning and rebranding analysis, hotel design and site plan analysis, IT Infrastructure, market and revenue projections, franchise agreement review and assistance, business plan development, and pre-opening services. Chairman and CEO of PCH Hotels & Resorts, James Buckalew said, “Historically, we have provided third-party hotel operations services for a select group of hoteliers, but as the market continues to rebound post-pandemic, we believe now is the time to begin offering our services to a larger pool.” He added, “Having operated hotels since 1999, PCH understands what it takes to manage a successful hotel that provides outstanding guest services and a profitable bottom line with 2022 a record year.” (Source – Business Wire) About PCH Hotels & Resorts Headquartered in Mobile, Alabama, PCH Hotels & Resorts, a hospitality company, specializes in refined comfort, Southern hospitality, Robert Trent Jones Golf Trail, and exceptional guest experiences. It is a franchised management company with Marriott. It has acquired different hospitality companies like the Grand Hotel Resort and Spa. It has been among the top hospitality employer in Alabama since 2000. It manages various properties like Renaissance Marriott resort properties, Marriott resort properties, Autograph Collection resort, and the Outlet Shop. Each property is near the extensive Robert Trent Jones Golf Trail. The Retirement Systems of Alabama owns its broad portfolio.

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BUSINESS TRAVEL

Life House is Cementing Its Status as the Go-To Management Company for Independent Hotels in Mexico

Life House | March 20, 2023

Tech-enabled hotel management company, Life House, has announced the addition of two more properties in Mexico to its growing portfolio of 80+ independent hotels. The two properties are Faisano Nomadas in Aldea Zama and The Carmen in Playa Del Carmen. With these hotels, Life House is now managing five independent hotels in the Mexican state of Quintana Roo. The Carmen is a 37-room hotel in the heart of Playa Del Carmen that is catered to adult vacations and is located directly on the beach. Built in 2017, the hotel features stunning views of the Caribbean from its rooftop bar and lounge, Deck5, and also hosts an Italian restaurant, La Famiglia, on the ground floor. The Owner is a long-time Denver-based developer. Ownership was very excited to have Life House take the reins given their existing presence in the Playa Market. “We selected Life House for the promise of its advanced tech stack and the opportunity for shared services with their other hotels,” said the Owner of The Carmen. “We expect to see many improvements to The Carmen’s operations and profitability with this new partnership.” Faisano Nomadas is a 24-room hotel in the heart of Aldea Zama. It was designed not just as a hotel, but as a destination itself, complete with a resort-style pool and a bar offering food and drinks concepted uniquely for the hotel. Francisco Mendoza and Gustavo Acosta, the developers of Faisano Nomadas, are highly experienced hotel owners and strategic growth partners for Life House in Mexico. Francisco Mendoza shared, “Working with Life House has been really exciting. They have been supporting our project with all their experience and knowledge as we are not Hotel operators - we are just investors trying to develop a profitable business with a great customer experience for our guests. Life House has experienced specialists in all operating areas who are guiding us in this journey and giving us the structure needed in order to achieve our goals.” Life House, founded in 2017, is uniquely positioned to manage smaller, leisure-oriented hotels and resorts across Mexico. Life House provides institutional-quality hotel management and branding services focused on profitability, ease, and long-term real estate value. They offer best-in-class hotel operations that are powered by their robust operational systems and proprietary technology that consistently drives 2x higher NOI, 40% higher net revenues, and all with a very lean on-site staffing model. Life House is therefore seeing high demand for its management platform throughout Mexico and is targeting the region as a strategic area of growth. “We are excited to partner with Messrs. Mendoza & Acosta and the owner of The Carmen on their special hotels and forward thinking approach,” said Rami Zeidan, the Founder & CEO of Life House. “Ever since we entered the market in 2020, we have seen how many great independent hotels are underserved and we’re looking forward to helping small & medium indie hotels throughout the country in the near future.” About Life House Life House is a vertically integrated hotel management & technology company focused on serving small and medium independent hotels with institutional quality service. Life House uses advanced software & operating systems to increase profitability and reliability for independent hotels throughout North America. Life House was founded in 2017 by real estate, hospitality, and technology veterans and is backed by world renowned private equity and venture investors. The company is ambitiously investing in its operational systems to make hotels fare more profitable, predictable, and seamless for owners. Today the company operates over 80 hotels across North America.

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Operto Guest Technologies Raises US$25 Million in Series-B Financing, Led By Centana Growth Partners

Operto | March 21, 2023

Operto Guest Technologies, a leading provider of automated solutions for 50 million-plus rooms in the global hospitality industry, today announced that it secured US$25 million in a Series-B financing round. The financing was led by Centana Growth Partners, with participation from Thayer Ventures, FUSE, Blackpines Capital Partners and Derive Ventures. Proceeds from the round will be used to further fuel Operto’s aggressive expansion in the global short-term rental and hotel markets, where it already works exclusively with Accor Hotels to power its global digital key program. This includes luxury hotel brands such Fairmont and Raffles, where Operto’s revolutionary contactless digital solutions can be leveraged to remove common friction points in the guest journey, while lowering operating costs and driving new sources of revenue for the hotel. "We are delighted to announce our B-Round funding, which will enable us to build upon our exceptional company growth over the past 3 years. It will accelerate our company mission to build cutting-edge technology solutions that drive amazing guest experiences, across the entire accommodation spectrum. In addition, our solutions will continue to deliver huge operational efficiencies for property owners and hosts by lowering costs and driving additional in-stay guest revenues, which is becoming increasingly important in today’s macroeconomic environment,” said Operto CEO Steve Davis. “Hospitality is one of the last major industries to be disrupted by technology, and we believe there is a significant opportunity to bring the benefits of simple, affordable automation to the sector. We are excited about the future, and we look forward to making a real difference to the accommodation industry." “Operto is leading the digital transformation of the hospitality industry by creating a seamless, automated check-in and check-out experience for its customers,” said Eric Byunn, co-founder and partner at Centana Growth Partners. “Centana has been following the digitization of the hospitality industry closely, and we are very excited about this sort of innovative disruption streamlining the experience of owners, hosts, and guests. We will leverage our expertise in the payments and commerce ecosystem to work with Operto as they continue to innovate in an industry with such enormous potential.” In addition to the funding announcement, Operto is pleased to announce that Sam Shank has joined the company’s Board of Directors. Shank, who was previously CEO and founder of HotelTonight and former head of Airbnb’s Commercial Team, brings a wealth of hospitality and travel industry experience to Operto. "Operto's cutting-edge technology solutions are reshaping the hospitality industry, and I am excited to be a part of the journey,” said Shank. “I look forward to working with the team to help drive growth and innovation." Operto’s automated, customizable platform enables hotels, property managers and others to remotely provide access as well as monitor and control a wide range of devices and systems, including smartphone-enabled guest verification, security deposit and payment, electronic elevator and room access. By providing property managers with real-time data and insights, Operto helps streamline operations, reduce costs and enhance the guest experience. Operto Guest Technologies is well-positioned to continue its rapid growth and expansion into new markets. The company is committed to delivering innovative solutions that help property managers improve efficiency, reduce costs and provide a better experience for their guests. About Operto Guest Technologies Operto Guest Technologies is a Vancouver-based company that provides smart property automation solutions for the hotel and vacation rental sectors. Operto’s platform enables property owners and managers to remotely monitor and control their properties, enhancing the guest experience while improving operational efficiency. The company's solutions can integrate with existing property management software and are customizable to meet the unique needs of each property. Operto Guest Technologies' solutions have been adopted by property managers and owners in over 100-countries worldwide.

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BUSINESS TRAVEL

PCH Hotels & Resorts Opens Third-party Hotel Management Services

PCH Hotels & Resorts | March 16, 2023

PCH Hotels & Resorts, a hospitality solutions provider, has recently announced that it has expanded its services to open third-party hotel management services for the additional ownership groups. PCH Hotels & Resorts has been working for different properties with a combined operational experience of about 200 years. It has achieved many awards and accolades like Marriott’s recognition, IHG and travel-based publications. It offers services for hotel operations, revenue management, food & beverage management, spa, capital budget management, accounting, human resources and IT solutions. Its operational team suggests a strategic and data-driven approach for positive topline development, budgeting, market share growth, community stewardship and guest experiences. It focuses on experiential lifestyle hotels and resorts while operating many F&B outlets and European spas. It outranks both branded and independent boutique hotels in the Southern U.S. Its additional acquisition and development abilities include due diligence assistance, brand selection and evaluation, capital expenditure assessment and CAPEX plan development, repositioning and rebranding analysis, hotel design and site plan analysis, IT Infrastructure, market and revenue projections, franchise agreement review and assistance, business plan development, and pre-opening services. Chairman and CEO of PCH Hotels & Resorts, James Buckalew said, “Historically, we have provided third-party hotel operations services for a select group of hoteliers, but as the market continues to rebound post-pandemic, we believe now is the time to begin offering our services to a larger pool.” He added, “Having operated hotels since 1999, PCH understands what it takes to manage a successful hotel that provides outstanding guest services and a profitable bottom line with 2022 a record year.” (Source – Business Wire) About PCH Hotels & Resorts Headquartered in Mobile, Alabama, PCH Hotels & Resorts, a hospitality company, specializes in refined comfort, Southern hospitality, Robert Trent Jones Golf Trail, and exceptional guest experiences. It is a franchised management company with Marriott. It has acquired different hospitality companies like the Grand Hotel Resort and Spa. It has been among the top hospitality employer in Alabama since 2000. It manages various properties like Renaissance Marriott resort properties, Marriott resort properties, Autograph Collection resort, and the Outlet Shop. Each property is near the extensive Robert Trent Jones Golf Trail. The Retirement Systems of Alabama owns its broad portfolio.

Read More

BUSINESS TRAVEL

Life House is Cementing Its Status as the Go-To Management Company for Independent Hotels in Mexico

Life House | March 20, 2023

Tech-enabled hotel management company, Life House, has announced the addition of two more properties in Mexico to its growing portfolio of 80+ independent hotels. The two properties are Faisano Nomadas in Aldea Zama and The Carmen in Playa Del Carmen. With these hotels, Life House is now managing five independent hotels in the Mexican state of Quintana Roo. The Carmen is a 37-room hotel in the heart of Playa Del Carmen that is catered to adult vacations and is located directly on the beach. Built in 2017, the hotel features stunning views of the Caribbean from its rooftop bar and lounge, Deck5, and also hosts an Italian restaurant, La Famiglia, on the ground floor. The Owner is a long-time Denver-based developer. Ownership was very excited to have Life House take the reins given their existing presence in the Playa Market. “We selected Life House for the promise of its advanced tech stack and the opportunity for shared services with their other hotels,” said the Owner of The Carmen. “We expect to see many improvements to The Carmen’s operations and profitability with this new partnership.” Faisano Nomadas is a 24-room hotel in the heart of Aldea Zama. It was designed not just as a hotel, but as a destination itself, complete with a resort-style pool and a bar offering food and drinks concepted uniquely for the hotel. Francisco Mendoza and Gustavo Acosta, the developers of Faisano Nomadas, are highly experienced hotel owners and strategic growth partners for Life House in Mexico. Francisco Mendoza shared, “Working with Life House has been really exciting. They have been supporting our project with all their experience and knowledge as we are not Hotel operators - we are just investors trying to develop a profitable business with a great customer experience for our guests. Life House has experienced specialists in all operating areas who are guiding us in this journey and giving us the structure needed in order to achieve our goals.” Life House, founded in 2017, is uniquely positioned to manage smaller, leisure-oriented hotels and resorts across Mexico. Life House provides institutional-quality hotel management and branding services focused on profitability, ease, and long-term real estate value. They offer best-in-class hotel operations that are powered by their robust operational systems and proprietary technology that consistently drives 2x higher NOI, 40% higher net revenues, and all with a very lean on-site staffing model. Life House is therefore seeing high demand for its management platform throughout Mexico and is targeting the region as a strategic area of growth. “We are excited to partner with Messrs. Mendoza & Acosta and the owner of The Carmen on their special hotels and forward thinking approach,” said Rami Zeidan, the Founder & CEO of Life House. “Ever since we entered the market in 2020, we have seen how many great independent hotels are underserved and we’re looking forward to helping small & medium indie hotels throughout the country in the near future.” About Life House Life House is a vertically integrated hotel management & technology company focused on serving small and medium independent hotels with institutional quality service. Life House uses advanced software & operating systems to increase profitability and reliability for independent hotels throughout North America. Life House was founded in 2017 by real estate, hospitality, and technology veterans and is backed by world renowned private equity and venture investors. The company is ambitiously investing in its operational systems to make hotels fare more profitable, predictable, and seamless for owners. Today the company operates over 80 hotels across North America.

Read More

COMMERCIAL TRAVEL

Operto Guest Technologies Raises US$25 Million in Series-B Financing, Led By Centana Growth Partners

Operto | March 21, 2023

Operto Guest Technologies, a leading provider of automated solutions for 50 million-plus rooms in the global hospitality industry, today announced that it secured US$25 million in a Series-B financing round. The financing was led by Centana Growth Partners, with participation from Thayer Ventures, FUSE, Blackpines Capital Partners and Derive Ventures. Proceeds from the round will be used to further fuel Operto’s aggressive expansion in the global short-term rental and hotel markets, where it already works exclusively with Accor Hotels to power its global digital key program. This includes luxury hotel brands such Fairmont and Raffles, where Operto’s revolutionary contactless digital solutions can be leveraged to remove common friction points in the guest journey, while lowering operating costs and driving new sources of revenue for the hotel. "We are delighted to announce our B-Round funding, which will enable us to build upon our exceptional company growth over the past 3 years. It will accelerate our company mission to build cutting-edge technology solutions that drive amazing guest experiences, across the entire accommodation spectrum. In addition, our solutions will continue to deliver huge operational efficiencies for property owners and hosts by lowering costs and driving additional in-stay guest revenues, which is becoming increasingly important in today’s macroeconomic environment,” said Operto CEO Steve Davis. “Hospitality is one of the last major industries to be disrupted by technology, and we believe there is a significant opportunity to bring the benefits of simple, affordable automation to the sector. We are excited about the future, and we look forward to making a real difference to the accommodation industry." “Operto is leading the digital transformation of the hospitality industry by creating a seamless, automated check-in and check-out experience for its customers,” said Eric Byunn, co-founder and partner at Centana Growth Partners. “Centana has been following the digitization of the hospitality industry closely, and we are very excited about this sort of innovative disruption streamlining the experience of owners, hosts, and guests. We will leverage our expertise in the payments and commerce ecosystem to work with Operto as they continue to innovate in an industry with such enormous potential.” In addition to the funding announcement, Operto is pleased to announce that Sam Shank has joined the company’s Board of Directors. Shank, who was previously CEO and founder of HotelTonight and former head of Airbnb’s Commercial Team, brings a wealth of hospitality and travel industry experience to Operto. "Operto's cutting-edge technology solutions are reshaping the hospitality industry, and I am excited to be a part of the journey,” said Shank. “I look forward to working with the team to help drive growth and innovation." Operto’s automated, customizable platform enables hotels, property managers and others to remotely provide access as well as monitor and control a wide range of devices and systems, including smartphone-enabled guest verification, security deposit and payment, electronic elevator and room access. By providing property managers with real-time data and insights, Operto helps streamline operations, reduce costs and enhance the guest experience. Operto Guest Technologies is well-positioned to continue its rapid growth and expansion into new markets. The company is committed to delivering innovative solutions that help property managers improve efficiency, reduce costs and provide a better experience for their guests. About Operto Guest Technologies Operto Guest Technologies is a Vancouver-based company that provides smart property automation solutions for the hotel and vacation rental sectors. Operto’s platform enables property owners and managers to remotely monitor and control their properties, enhancing the guest experience while improving operational efficiency. The company's solutions can integrate with existing property management software and are customizable to meet the unique needs of each property. Operto Guest Technologies' solutions have been adopted by property managers and owners in over 100-countries worldwide.

Read More

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