Celebrity Suspends Global Cruise Operations Through Sept. 15

Cruise Lines International Association | June 23, 2020

In accordance with the Cruise Lines International Association announcement that its ocean-going cruise line members will voluntarily extend the suspension of cruise operations from U.S. ports until Sept. 15, 2020, Celebrity Cruises said it will be extending its suspension of global operations for all sailings departing on or before Sept. 15, 2020. Booked guests will receive 125 percent future cruise credits, which are valid through Dec. 31, 2021 “for use on sailings through May 4, 2022,” Celebrity said.

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The Evolution of the Online Travel Industry.

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The Evolution of the Online Travel Industry.

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FEATURES AND ADVICE

My Travel Bloc and Dragonchain Sign Letter of Intent

Dragonchain My travelBLOC | September 03, 2021

My Travel Bloc Inc. and Bellevue based Dragonchain have entered into a Letter of Intent to co-develop and deploy the most secure and efficient blockchain travel solution on earth. TravelDragon will combine My Travel Bloc's global travel services platform with Dragonchain's energy efficient hybrid blockchain and patented smart contracts platform. This benchmark solution is designed to process over twenty two thousand (22,000) transactions per second on an environmentally sustainable platform that consumes just 0.00002 Kilowatt hours per transaction. "This exciting collaboration brings decades of innovative technology, aviation and distribution expertise to the travel industry. Our mission is to disrupt the current status-quo while also solving the many challenges that plagued early adopters of travel-based blockchains. Our hybrid B2B solution offers buyers and suppliers real time engagement in a secure blockchain ecosystem while reducing unnecessary overrides, fees and commissions." - Steve Sedgwick, CEO, My Travel Bloc Smarter Together- The combined collaborative TravelDragon team is committed to deliver: Collaboration across the entire travel industry. We are consolidating travel procurement in a win-win solution for both buyer and supplier. Joint innovation and product development. We are using cutting edge cloud-based blockchain architecture, patented smart contracts, artificial intelligence, and machine learning in a scalable value-added ecosystem. Industry leading sustainable recycle bin technology. We are helping all participants to actively engage in caring for our planet faithfully and efficiently. Real-time distributed ledger. We will streamline expense reconciliation and financial transactions. "We are thrilled to team up with My Travel Bloc to address the real-world problems currently facing the travel industry. Our fundamental capabilities and their passion to build powerful solutions not yet seen in the industry are the perfect match. Dragonchain specializes in behavioral and loyalty incentives to motivate partners and customers towards specific goals. We use patented smart contract technology to completely automate any process including carbon-tracking so that businesses can track and prove their carbon footprint. TravelDragon is set to create the most efficient travel platform the industry has ever seen." - Joe Roets, Founder and CEO, Dragonchain. About My Travel Bloc My Travel Bloc is a SaaS travel platform bringing suppliers and buyers together in a low-cost distribution marketplace that minimizes unnecessary commissions, fees and overrides associated with the current global distribution system. By providing a quantum level secure environment that transacts in real time, suppliers are afforded the ability to directly share their valuable service APIs. Deploying tailored smart contracts to airlines, hotels, and the corporate buyer, My Travel Bloc streamlines and enhances the efficiency of supplier/buyer relationships in a value-added ecosystem. For more information, please visit www.mytravelbloc.com About Dragonchain Dragonchain simplifies the integration of flexible and secure blockchain-powered solutions interoperable with any external blockchain, legacy system, or application. The platform is designed to be independently scalable as well as sustainable for any entity, business, or organization. Dragonchain understands the needs of businesses and has built a platform of core capabilities to solve the issues businesses face. Dragonchain was originally developed at Disney's Seattle office as the Disney Private Blockchain Platform in 2014, and open sourced in 2016. Dragonchain is America's Blockchain. Learn more at Dragonchain.com

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TRAVEL TECHNOLOGY

Xeniapp Inc. Announces Partnership With CTW

Xeniapp Inc | November 16, 2021

Xeniapp, Inc., the travel technology company, announced that it has partnered with CTW to build the most sophisticated flight shopping engine in the world for Xeniapp's unique travel operating system. Xeniapp is transforming the travel industry with its web 3.0 operating system built on a blockchain network. Today, corporate and leisure travel professionals can launch their full-service, web-based travel agency complete with custom booking engine, traveler web portal, CRM, and payment settlement engine. Xeniapp offers a full suite of bookable wholesale travel inventory, including flights, hotels, car rentals, airport transfers, and activities. "Flight booking is the most complex issue in travel today, with heavy regulation and millions of potential booking configurations. Servicing cancellations and rescheduling of flights is the most time-consuming, costly, and complex problem that the industry faces. By partnering with CTW, our operating system can automate flight reshopping, resolving one of the key pain points for travelers and travel professionals," -Sachin Narode, CEO of Xeniapp. The CTW platform is the most accurate airline pricing system on the market as evidenced by ATPCo's ratings. It is also the only platform to offer customers two years of historical flight schedules and fares with up-to-the-minute accuracy, a crucial necessity for post-ticketing servicing. CTW offers cost-effective technology, ticket exchange and refund management. CTW enables Xeniapp to automate even the most complex transactions and itineraries that previously required painstaking manual calculations and long customer service calls. "Partnering with Xeniapp - one of the most innovative travel companies in the world - is extremely rewarding for us. It demonstrates the value that the CTW platform can add for clients who are willing to innovate around the powerful functionalities that we offer. This partnership underscores our belief that future growth in the industry will come from companies that invest in continually improving the user experience and simplifying self-management of even the most complex trips," -Andrew Cuomo, Chief Commercial Officer of CTW. About Xeniapp, Inc. Xeniapp, Inc., the travel technology company, is based in New York City. Xeniapp's mission is to transform the travel industry by bringing travel software into the 21st century. The company was co-founded by Sachin Narode and Rachel Obenshain.Xeniapp Contact: Rachel Obenshain, President, Xeniapp; email: rachel@xeniapp.com.For more information about Xeniapp, visit https://xeniapp.com. About CTW CTW has developed several generations of airline shopping and pricing systems. The CTW Platform provides complete shopping, fares and pricing, reshopping, and ancillaries. CTW connects content providers and retailers worldwide. CTW Platform provides final pricing and repricing for 20% of all ARC/BSP-issued airline tickets in the world and has operations in Europe, North America, Asia and Oceania.For more information about CTW, visit https://ctw.travel.

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INDUSTRY OUTLOOK

Hyatt Shares Updates on Operations, Summer Booking Trends and More

Hyatt Hotels Corporation | June 07, 2022

Hyatt Hotels Corporation shared updates on its operating results for May, summer travel booking trends, and confirmation of the closing of previously announced asset disposition as the NYU International Hospitality Investment Conference commenced. “We are delighted that we closed on the last of four previously announced owned hotel dispositions. In total, these four dispositions generated $812 million in gross proceeds and demonstrate meaningful and expeditious progress towards our current $2 billion asset disposition commitment, Additionally, our operational metrics in May serve as further evidence of continued recovery with comparable system-wide RevPAR improving from April, and system-wide RevPAR outside of Asia Pacific actualizing 3% above 2019 levels for the second consecutive month. As we look forward, we anticipate a busy summer travel season ahead.” -Mark S. Hoplamazian, President and Chief Executive Officer of Hyatt Hotels Corporation In the update, Hyatt announced that the comparable system-wide RevPAR in May was approximately $127, the strongest RevPAR performance in any individual month since November of 2019. The leisure transient revenue was up 18% in May, thanks to Memorial Day weekend, where RevPAR in the Americas was approximately 24% above Memorial Day weekend of 2019. Business transient and group revenue also continued to strengthen in May. The summer travel season ahead looks favorable in terms of booking trends. Gross group room revenue booked in May for stay dates in 2022 for comparable Americas was 46% above May of 2019. The all-inclusive portfolio had strong results. As for the asset dispositions, the company has closed on all four previously announced assets resulting in gross proceeds of $812 million or over 40% of its current $2.0 billion disposition target, reflecting an aggregate multiple of 15.7x 2019 EBITDA, and entered into a long-term management agreement for each of the properties upon sale. Additionally, the company is marketing two of its hotels for sale.

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