DESTINATION AND TOURISM
Journera | December 15, 2022
Journera, recognized as one of the World's 10 Most Innovative Travel Companies by Fast Company and a Technology Pioneer by the World Economic Forum, announced the launch of Journera® Audiences for destination marketing organizations and tourism boards.
Journera® Audiences provides real-time and historical customer insights to help destinations reach more known travelers, optimize their marketing strategies, drive more revenue, and create more economic development for their destinations. Most destinations currently lack access to direct customer data, so they rely on outside customer insights and marketing channels to get out their messages, which often lack the precise targeting required to turn clicks into trips.
Journera® Audiences is unique because it is based on first-party, real-time airline and hotel booking data from the largest U.S. travel brands. Journera serves up target audiences based on known travel behaviors and travel purchases right down to the customer ID level.
"Launching an important new product in the tourism market is further affirmation of the power of real-time, first-party data to drive better marketing and customer engagement,Our message is simple for travel brands and destinations of every type: your own data is far more valuable when you pair it with first-party data from across the travel ecosystem."
-Jeffrey Katz, CEO, Journera
No matter where customers book - whether it's online, through an online travel agency, corporate booking or a global distribution system (GDS) - all bookings from all channels are captured and anonymized through Journera's patented 'cryptographically enforced data exchange.' Journera can access more than 325 million customers, 760 million reservations, and five-billion travel events.
Journera® Audiences includes a wide array of filters that can be chosen by the destination marketing organization. They include historic bookings to the destination; historic bookings to similar destinations; active airline and hotel reservations to the destination (or to a competing destination); and customers whose past trips exhibit a high propensity to spend and travel again.
Our approach solves the inefficiency challenge that destinations encounter when their target audiences are comprised of too many people with possible intent to visit the region or destination," said Maria Sheetz, Director of Sales, Tourism at Journera. "With Journera® Audiences you're reaching known travelers not bots, bookers not lookers.
Journera's commercial partners include United Airlines, American Airlines, Hilton, InterContinental Hotels Group, Marriott International, Hyatt Hotels Corporation and many others. Together, these travel companies account for nearly 50 percent of all travel in the U.S. For more information about Journera's destination offering, visit https://journera.com/tourism.
Journera is a technology company that provides a secure, real-time data exchange for creating more seamless travel journeys. Through its platform, Journera creates a complete view of the traveler's journey in real-time, enabling travel-related companies to create better travel experiences that drive increased loyalty and direct engagement with customers. Journera was recognized as a 2021 'World's Most Innovative Company' by Fast Company. For more information, visit www.journera.com.
Highgate | January 23, 2023
Highgate, a company involved in hotel management, investment, technology, and development, has announced the launch of HG Portugal, as well as the relaunch of the Dorsett City London Hotel. HG Portugal opens with a portfolio of 18 hotels in several Portuguese markets, including Lisbon, Algarve, and Porto.
The portfolio includes hotels under the Hilton and IHG brand families and many notable independent hotels, such as Salgados Palace, Cascade Resort, and Sao Rafael Atlantico. In addition, the portfolio spans urban full-service hotels, waterfront luxury resorts, lifestyle boutique hotels, and large convention facilities, all drawing from core competencies across Highgate's global footprint.
Highgate has selected Alexandre Solleiro as Chief Executive Officer of HG Portugal as part of its efforts to build a best-in-class operating capability in Portugal. Alexandre Solleiro brings more than 30 years of hospitality leadership expertise in Portugal, and he is supported by a dedicated leadership team from all disciplines. The team will leverage Highgate's existing resources and platforms in Europe, the Caribbean, the United States, and Latin America while also bringing specialized Portugal-based experience.
Highgate brings global experience as an owner/operator in leisure destination markets and lifestyle, branded, and city-center hotels to the Portugal market. It adds unique value to its managed hotels via a platform designed to optimize distribution, operational efficiencies, and hotel concept development.
The launch of HG Portugal follows the October 2021 announcement of two portfolio additions in the UK market: Grosvenor House Suites in London's Mayfair District and the Dorsett City London Hotel. As part of a more extensive repositioning, Highgate will also begin running the Dorsett City London Hotel using a relaunched concept on March 1, 2023.
Arash Azarbarzin, Chief Executive Officer of Highgate, stated, "The launch of HG Portugal complements Highgate's recent re-entry into the UK management space, furthering the application of our proven business towards strategic global opportunities." He added, "Honed over the last 30 years, we will apply our innovative approach to operations, distribution, food and beverage, branding, and positioning during a remarkable moment for Portugal, as more travelers are discovering its magnificence as a prime destination."
(Source – PR Newswire)
New York-based Highgate is a leading hospitality management and investment company. It is a prominent figure in the US gateway markets, which include Boston, Honolulu, Miami, San Francisco, and New York. It is also expanding its presence in Europe using properties in Barcelona and London. Highgate offers professional guidance at every stage of the hospitality property cycle, from development and planning to disposition or recapitalization. Highgate is a trusted partner for major hotel brands and top ownership groups, with an executive team comprised of some of the industry's most experienced hotel management leaders.
AirDNA | November 15, 2022
A new joint report from hospitality data supplier STR and short-term rental analytics provider AirDNA shows that competition between short-term rentals and hotels has accelerated in the fight for leisure guests, with the price gap tightening and rental supply falling behind in urban markets.During the pandemic, the U.S. short-term rental sector used its supply flexibility to recover faster than hotels, especially in coastal and mountain destinations, pushing rentals' market share to a record 17% of total lodging in summer 2020. Hotels retargeted towards leisure guests to reclaim demand, focusing on urban areas, pushing short-term rentals' market share back to below its pre-pandemic trajectory.
"During the pandemic, short-term rentals had an advantage over traditional hotels due to consumer perception of better COVID-19 safety, Now in 2022, hotels can compete on price and have claimed demand on key holidays where, pre-pandemic, they typically lost out on leisure travelers."
-AirDNA Vice President of Research, Jamie Lane
Hotels Lead in Cities
In large cities, short-term rental supply contracted dramatically as demand dropped off in 2020, while government subsidies helped to reduce permanent closures of hotels. As urban demand began to recover in 2022, hotels were ready to accommodate travelers, while urban rental supply remains 17% below 2019. With strict regulations limiting short-term rentals in cities like New York and San Francisco, which both lost 25% of their pre-pandemic supply levels, supply is unlikely to fully recover in these areas.
"Looking to the future, hotel supply will likely remain strongest in urban and suburban locations, with low development in coastal and rural areas due to higher barriers to entry, where short-term rentals will likely see more opportunity for growth,"
-STR's Vice President of Analytics Isaac Collazo.
A new STR survey of more than 1,000 travelers shows that value for money is an important factor for rental guests, even more than hotel guests. Despite the perception that rentals are cheaper, in 2019, hotels and comparably-sized rentals were priced around the same, except in urban locations. In large cities, hotels were priced 42.9% higher than rentals, but that gap has closed to 26.6% in 2022. Hotels are now offering lower rates than rentals in all location types except urban and coastal resorts, where the difference is 10%.
While rentals' market share is highest in coastal and mountain or lake destinations, in urban and suburban locations their share has flattened or declined. Rentals should continue to grow their market share, albeit at a slower pace than pre-pandemic, led by expansion in resorts and small towns less well-served by traditional hotels.
AirDNA helps hosts, property managers, and investors succeed in the short-term vacation rental market by turning rental data into actionable analytics. The Denver-based company has tracked the daily performance of 10 million vacation rentals in 120,000 global markets since 2014 to provide real-time market insights. Their range of online and exportable reports offer a solution for everyone in the industry to analyze trends, price rentals, identify new investment opportunities, and benchmark performance.
STR provides premium data benchmarking, analytics and marketplace insights for the global hospitality industry. Founded in 1985, STR maintains a presence in 15 countries with a North American headquarters in Hendersonville, Tennessee, an international headquarters in London, and an Asia Pacific headquarters in Singapore. STR was acquired in October 2019 by CoStar Group, Inc. (NASDAQ: CSGP), the leading provider of commercial real estate information, analytics and online marketplaces.