DESTINATION AND TOURISM,INDUSTRY OUTLOOK
Internova Travel Group | July 05, 2022
Dream destinations, multigenerational vacations and a desire for unique experiences are some of the trends driving luxury travel for the summer in 2022, according to travel advisors from the Global Travel Collection (GTC).
The United Kingdom tops the list of international destinations booked by GTC travel advisors, a spot it's held for the last five years. Other places in the top 15 include Italy, France, Israel, Spain, Switzerland, Mexico, the United Arab Emirates, Greece and Germany, followed by South Africa, Ireland, Australia, the Dominican Republic and Portugal.
Luxury travel advisors with GTC brands report that their clients are excited to travel again, with some booking multiple trips. And they're willing to spend more to get the vacation experience they want. But that high demand is driving up prices, and hotels are stretched thin due to staffing shortages, limiting availability.
"Europe is in high demand this summer, with destinations like Greece, Spain, Portugal and Italy the most booked, My luxury travel clients do a combination of experiences, like cooking classes, hiking/biking excursions and immersive activities connecting them to the place, as well as making sure they have dining reservations at the top spots."
-Tiffany Bowne, with All Star Travel Group, a brand within Global Travel Collection.
Carolyn Consalvo, with Global Travel Collection's Andrew Harper, remarked that beach vacations and Alaska cruises are very popular. "I would say most people are looking for destinations where they can be outdoors a majority of the time," she said.
"Bucket lists are becoming to-do lists,Many of my clients want to travel to their dream locations," with destinations as varied as the Maldives, southern Italy's Amalfi coast, Australia and Hawaii.
-Shayna Mizrahi, with In The Know Experiences, also part of Global Travel Collection
Remote work has also opened up new possibilities, she added. "The demographics of my most active luxury travelers today are young professionals, who now can work remotely from anywhere and are choosing to combine this with unique luxury trips.
Luxury travelers are eager to make up for the time they couldn't spend seeing the world with friends and family over the past two years.
I'm doing multiple multigenerational trips — grandparents not wanting to miss any more time and taking their family on an unforgettable trip of two to three weeks, said Diana Castillo, with Protravel International of Global Travel Collection.
Laura Triebe, also with Andrew Harper, is also handling more requests for multigenerational vacations and bucket-list destinations like Hawaii and Africa. I think the client that calls now is more serious about traveling and is willing to adjust to an ever-changing world.
With rising prices and limited availability in some vacation spots, luxury advisors are putting their skills and experience to the test.
Clients are willing to pay to get what they want," and that includes upgrading their accommodations, said Michelle Summerville, with In The Know Experiences. More people want to travel in the best way possible, better than they have in the past," she said.
The greatest challenge in selling luxury travel right now is the severely limited space and availability for flights and hotel rooms in the most desirable destinations, said Leslie Tillem, with Tzell Travel Group of Global Travel Collection. We are seeing extraordinary demand in luxury travel across the spectrum, leading to a lack of availability at any price.
Bridget Kapinus, with Andrew Harper, concurs. Demand is high for last-minute travel. She's also contending with factors like a scarcity of hotel rooms and higher costs for flights.
Travelers who had never used an advisor before started to seek them out to help navigate COVID-19 entry and testing requirements. Now, they're sold on the value of a travel professional.
"Your time is precious, and you want the assistance of an expert to help you plan your vacation, said Angie Licea, President of the Global Travel Collection. Our luxury travel advisors have years of experience putting together trips for their clients, as well as firsthand knowledge of the world's most popular destinations. They stay on top of the trends in luxury travel and deliver concierge-level service. Plus, travelers have the comfort of knowing that there's a human being they can call whenever they have a question or concern.
My travels throughout these past 18 months have been our best marketing,said Castillo, of Protravel International. "We have shown our clientele that travel can be pleasant and enjoyable and that we can help set up all the requirements they may need in order to make their vacation seamless.
Mizrahi, with In The Know Experiences, has also been sharing details about her travels, something her clients appreciate immensely. Her firsthand experience "is something that no Google search or website can provide.
About Global Travel Collection
Global Travel Collection (GTC), a division of Internova Travel Group, is the world's largest collection of international luxury travel agencies, including the well-established networks of Protravel International, Tzell Travel Group, and Colletts Travel, as well as Andrew Harper, In the Know Experiences, All Star Travel Group and R. Crusoe & Son. GTC advisors and agencies are industry leaders in providing premium travel services to leisure travelers, corporate executives and the entertainment industry. The combined global reach and leverage translates into value, recognition, and preferential treatment for its world travelers.
About Internova Travel Group
Internova Travel Group is one of the largest travel services companies in the world with a collection of leading brands delivering high-touch, personal travel expertise to leisure and corporate clients. Internova manages leisure, business and franchise firms through a portfolio of distinctive divisions. Internova represents more than 70,000 travel advisors in over 6,000 company-owned and affiliated locations predominantly in the United States, Canada and the United Kingdom, with a presence in more than 80 countries.
Holisto. | June 15, 2022
On June 13, Holisto Ltd, a leading technology-based online travel booking platform, and Moringa Acquisition Corp, a special purpose acquisition company, announced that they entered a business combination agreement that would get Holisto publicly listed on the Nasdaq. Holisto Ltd’s expected pro forma equity value will be approximately $405 million, thanks to this business combination.
Moringa’s non-redeeming public shareholders can receive a pro-rata portion of a bonus pool of up to an additional 1,725,000 shares at transaction close. This would result in a merger consideration of between 1.15 and 1.6 Holisto ordinary shares for each such Moringa Class A ordinary share not redeemed. However, the ratio of merger consideration for non-redeeming shareholders will depend on the number of Moringa shares redeemed.
“From the outset we were inspired by the opportunity to disrupt the large, fragmented and complex travel booking market, using advanced big data and AI technologies that enable incremental cost savings and simplicity through the ability to combine offerings from multiple sources, Our combination with Moringa and access to public markets will allow Holisto to continue to aggressively leverage our technology by scaling our platform and infrastructure and expand our customer acquisition and brand awareness.”
-Eran Shust, Chief Executive Officer and co-Founder of Holisto.
“We are incredibly excited to announce the merger with Holisto. Holisto is innovating with advanced technology solutions in a large, global market which is ripe for transformation for the benefit of the consumer traveler. We look forward to our partnership and opportunity to leverage our expertise as Holisto continues to rapidly scale its business.”
-Ilan Levin, Chief Executive Officer and Chairman of Moringa
Holisto is a tech-based online travel booking platform. It harnesses the power of advanced AI to make travel more affordable and personalized for customers. Its unique holistic view of hotel rates and plans result from multiple inventory sources, including online travel agencies, wholesalers, global distribution systems, and hotel operators, so that consumers can get the best deals on their bookings.
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.