Posadas | July 15, 2022
Sabre Corporation (NASDAQ: SABR), a leading provider of software and technology powering the global travel industry, announced a new distribution agreement with Posadas, Mexico's leading hotel operator, which will help accelerate its growth plans and drive higher revenue through Sabre's SynXis Central Reservations (CR) platform.
The agreement will allow the hotel operator to put its inventory in front of hundreds of thousands of travel agents globally across all major global distribution systems (GDS) through Sabre Hospitality's innovative SynXis CR. This platform offers specific functionalities and capabilities that help drive higher revenue and streamline internal processes, improving efficiency.
"Sabre is an important travel technology company in the world and with leadership in Mexico that offers a comprehensive distribution platform for the different sales channels including the Global Distribution Systems (GDS), Our partnership with Sabre includes replacing our current GDS connectivity technology with SynXis."
-José Jaime Lorenzo, director of Revenue Management, Technology and Distribution, Posadas.
Sabre also continues to support Posadas' GDS marketing, helping to position its hotels under the Live Aqua, Grand Fiesta Americana, Curamoria Collection, Fiesta Americana, The Explorean, IOH, Fiesta Inn, Gamma and one brands through Sabre's Sponsored Property and Promospot campaigns.
"We are delighted to support Posadas' distribution strategy with the implementation of SynXis CR. To successfully compete and drive incremental revenue opportunities, it is essential that hoteliers equip themselves with the right technology tools to put their offerings in front of global markets, We are excited to enable Posadas to capture and create future travel demand in a key market like Mexico and beyond."
-Frank Trampert, senior vice president and global general manager, Community Sales, Sabre Hospitality.
Available in eight languages, SynXis CR enables a single system of record that can help implement hoteliers' distribution strategy, reaching the industry's broadest distribution points and supporting their business goals. Hotel owners and managers can enter and maintain their own property information, including rates, photos, inventory and policies, as well as view booking data and reports through the SynXis online portal, where they can access various marketing tools.
About Sabre Corporation
Sabre Corporation is a leading software and technology company that powers the global travel industry, serving a wide range of travel companies, including airlines, hoteliers, travel agencies and other suppliers. The company offers sales, distribution and fulfillment solutions that help its customers operate more efficiently, generate revenue and deliver personalized experiences to travelers. Through its leading travel marketplace, Sabre connects travel providers with buyers around the world. Sabre's technology platform manages more than $260 billion in global travel expenses annually. Headquartered in Southlake, Texas, USA, Sabre serves customers in more than 160 countries around the world. For more information, visit www.sabre.com.
Posadas is the leading hotel operator in Mexico that owns, leases and manages 185 hotels and 28,690 rooms, with a presence in the most important and visited beach and city destinations in Mexico and the Dominican Republic. Its hotels located in city destinations represent 87% of the total rooms it has and in beach destinations 13%. Posadas operates the Live Aqua Beach Resort, Live Aqua Urban Resort, Live Aqua Boutique Resort, Grand Fiesta Americana, Curamoria Collection, Fiesta Americana, The Explorean, IOH, Fiesta Inn, Gamma and one brands, as well as the Live Aqua Residence Club and Fiesta Americana Vacation Club vacation programs. Posadas has been listed on the Mexican Stock Exchange (BMV) since 1992. For more information, visit: www.posadas.com
COMMERCIAL TRAVEL, CRUISE
inCruises International | July 18, 2022
Premier cruise membership club inCruises International has exceeded the one million mark in Members, demonstrating the strong and growing demand for its subscription-based travel model.
This milestone reflects the company’s successful expansion into new markets worldwide, with Members now in 196 countries. inCruises is introducing consumers to the lifestyle and value of cruising, plus providing a way to save monthly for travel while earning Reward Points that further increase savings. The occasion also follows the spring launch of inStays™, expanding Member access to more than 25,000 hotel, resort and cruise offers.
“Exceeding one million Club Members is a significant event in our company history. We are truly honored by the passion of our Partners and Members in sharing their love of cruising with others and growing the inCruises community, When we launched Club Membership in 2016, our goal was to make seeing the world more accessible to everyone, and reaching this milestone proves it’s resonating.”
-Michael “Hutch” Hutchison, co-Founder and co-CEO of inCruises
Every monthly Club Membership payment is matched with double Reward Points by inCruises. Members can exchange Reward Points at the time of booking for payment towards the lowest publicly available retail price of a cruise, hotel, or resort. Bookings are made directly through inCruises’ easy-to-use platform, which is available in 17 languages. Members’ Reward Points never expire.
“inCruises has successfully created a new way to plan for and maximize savings on cruise travel, With more than one million Members worldwide embracing our model, we are well-poised for continued growth. We are constantly innovating, and many exciting things are on the horizon to bring even more value to our Members, Partners, and travel providers.”
-inCruises co-Founder and co-CEO, Frank Codina.
In addition to Club Membership, inCruises also offers the chance to travel for free through its Independent Partner Program. Partners can earn compensation for sharing the inCruises Membership advantages with others.
About inCruises International
Since launching its flagship membership in 2016, inCruises International has become the premier cruise membership club with more than one million Members and Partners in 196 countries. inStays™ was added in 2022, giving Members access to more than 25,000 hotel, resort and cruise offers. inCruises is making a measurable difference in its Club Members' lives and is committed to ethically providing a business ownership opportunity to its growing Partner team. In addition, the company is committed to positive global corporate citizenship by supporting Mercy Ships, 4Ocean, the Make-a-Wish Foundation, and Ukrainian Relief efforts. To share the experience, please visit our Business and Membership opportunity at incruises.com.
Fraugster | August 02, 2022
Fraugster, an AI payment intelligence company, together with Worldline, a global leader in secure payments and trusted transactions, has confidently enabled travel merchants to weather the storm of the Covid-19 pandemic with its Chargeback Protection Solution. The solution eliminates chargeback losses for merchants by taking full liability for fraudulent transactions. At the same time, advanced AI trained on global payment data makes more accurate decisions to boost approval rates. Innovations in machine learning and artificial intelligence (AI) allow merchants to go-live without historical data by leveraging a new deep learning model.
With the outbreak of Covid-19, global travel was grounded. This caused mass cancellations and a scramble for refunds, but also created new opportunities for fraudsters to strike overburdened travel operators (hotels, airlines and OTAs), and take advantage of weak points in the system. In addition, there was a surge in so-called "angry chargebacks" where customers claim not to have authorised a transaction, usually in response to being frustrated by a cancellation or booking change. Covid-19 fraud patterns and consumer payment behaviour were significantly different to those pre-pandemic. Similarly, data inconsistencies limited the ability to identify and prevent certain types of fraud attacks like last minute cancellations on short term bookings. Chargeback rates jumped to over 3%, versus a baseline of under 0.5% in normal circumstances.
"Iberostar experienced a massive increase in fraud pressure during the pandemic. We were pleased that partners Fraugster and Worldline were able to act so quickly to design a new AI model specifically for us. In a few short months we reduced the Chargeback rate from 2.76% to 0.07%, which was a fantastic achievement,"
-Ferran Llompart, Corporate Treasury Director, Iberostar
Additional factors make chargeback protection more relevant than ever. The first is that the total cost of managing chargebacks has risen to nearly 3x of the original transaction value, according to a Fraugster analysis. For verticals like travel, where average order values are in excess of $750, this implies a total cost of over $2000 per fraudulent transaction.
Secondly, 80% of online merchants are reporting an increase in first party fraud (also referred to as "friendly fraud") where credit card credentials are intentionally or mistakenly abused. This trend is particularly acute in online gaming environments. These chargebacks are very difficult to prevent or mitigate and are costing companies margin, with limited recourse to recovering chargeback losses.
Together these trends are increasing merchants' exposure to chargeback liability and are driving up the total costs related to chargebacks. With Fraugster's Chargeback Protection solution merchants are able to significantly reduce the costs attributable to managing chargebacks, plus chargeback losses and fees, with little to no integration effort.
"Fraugster's approach to addressing chargebacks is to use a combination of machine learning and behavioral science to build a sharper picture of the transaction in question. This means merchants can provide a more seamless buying experience for legitimate customers while also preventing fraudulent transactions from getting through - this includes transactions that may turn into chargeback fraud later on, We are pleased that global brands have increased their revenue of between 5-16% since adopting Fraugster's Chargeback Protection solution product and report a steadier and more predictable financial coverage for chargebacks and bottom line impacts."
-Christian Mangold, CEO of Fraugster.
Fraugster is a Berlin based payment intelligence company. Fraugster enables the world's leading merchants, global payment companies like Worldline and Ratepay to intelligently manage the impact of fraud to minimize the costs of fraud, maximize revenue and improve customer experience. Fraugster has developed one of the most accurate AI compliance, risk and fraud management and revenue uplift platforms in the market and is backed by leading deeptech investors including Earlybird, Speedinvest and CommerzVentures. Further information can be found at https://www.fraugster.com/