The Maui News | October 04, 2020
Hawaii is anticipating up to 8,000 tourists a day to head to the Islands when the state’s travel restrictions are lifted later this month, Lt. Gov. Josh Green said. Hawaii is rescinding its mandatory 14-day quarantine for all visitors on Oct. 15 and will institute a pre-travel testing program for the coronavirus. Tourists who arrive with a negative test will not have to quarantine, according to The Maui News.
VacationRenter | May 26, 2022
VacationRenter, the fastest-growing vacation rental search engine, has enhanced its global inventory expansion. It offers full site translations, personalized travel inspiration and traveler resources, and more.
"Researching and booking vacation rentals can be frustrating and time-consuming. Our platform helps make the experience easier, We are always working on making our site better. Our latest upgrades focus on improving the user experience for our international customers, as well as giving all customers more information and tools to quickly find the perfect rental."
-CEO Heath Hammett
An overview of the platform upgrades:
These improvements include streamlining the process of finding the perfect vacation rental. It delivers priority updates, price alerts, personalized travel inspiration, upgraded search and usability, and a user-friendly design.
New and Expanded Inventory
In partnership with Interhome, VacationRenter now offers more than 30, 000 vacation rentals in the U.S and Europe. These rental homes and apartments add to the convenience in travel destinations such as Myrtle Beach, SC, and Madrid, Spain. VacationRenter has also expanded its partnership with Plum Guide. As a result, customers can easily research Plum Guide’s high-quality homes across Europe and the U.S.
VacationRenter has launched full site translations in French, Spanish, Italian, Portuguese, Polish and German for global travelers. Additionally, it has also enhanced key information for almost 6, 000 locations across the globe, including FAQs and details on must-see attractions.
Up-to-Date Traveler Resources
The new Traveler Resource Center gives travelers the correct destination and even property-specific information. It also includes COVID-related restrictions and guidelines. Apart from this, the new VacationRenter’s Travel Trends pages display booking trends and average nightly prices. This data gives insight into traveler behaviors for the ones in the travel industry, such as homeowners, property managers and travel reporters.
VacationRenter is bracing up for travel to make a comeback for both domestic and international U.S travelers, who are seven times more likely to resume travel at home.
TripActions | October 14, 2021
In less than a year, TripActions has secured a second massive funding round – this time $275 million in Series F growth funding.
The round was led by Greenoaks Capital with participation from prior investors Elad Gil, Base Partners and all key existing financial investors and values TripActions at $7.25 billion on a post-money basis.
The funding comes less than nine months after TripActions' Series E round of $155 million in January. The travel management company's total funding to date is nearly $1.3 billion.
Is an IPO coming soon for the six-year-old company? Michael Sindicich, general manager of TripActions Liquid, the company’s payment and expense management solution, says while an IPO would be a “natural fundraising opportunity and another milestone in our growth,” it is not planned for the near future.
“We’ve got quite a lot of cash. We’re making great revenue. We are not in any rush to take the company public at this time,” Sindicich says. The vote of confidence from investors, he says, confirms TripActions’ belief that travel and expense management is “ripe for a tech makeover.”
Despite the global impact of COVID-19 on travel, TripActions says it has now exceeded pre-pandemic levels in terms of bookings and revenue and has more than doubled its aggregate travel budget under management from February 2020 through the end of July this year.
The gains are due in part to a focus on acquiring new enterprise customers, targeted with the launch of TripActions Enterprise Edition in September 2020. Clients include Heineken, Crate & Barrel, Snowflake, Thomson Reuters and Adobe.
“We were there for these customers, they were switching from legacy travel agencies and booking tools, legacy expense platforms, because we were innovating, we were supporting, we were adapting to the way the new world would operate moving forward and that gave them a lot of confidence to actually make a change.”
Michael Sindicich, general manager of TripActions
Also adding fuel to TripActions' growth in the last 18 months: the launch of Liquid in February 2020, first as a payment solution and then in October 2020 adding expense management tools.
Sindicich says transaction volume is similar for Liquid as for core travel, and more than 90% of the new companies TripActions is bringing onboard use its full suite of solutions for corporate travel, expense, spend and payment management.
“Seventy-percent of expenses happen while employees are on trips,” he says.
“So we’re learning about the power of the end-to-end solution. We built Liquid as a separate team in the beginning... and are now seeing that both platforms together, it’s a one-plus-one-equals-three type of situation.”
Along with continuing to develop these products, TripActions will accelerate development of Lemonade, its personal travel booking solution that launched in October 2020. Lemonade gives employees at TripActions’ client companies’ access to negotiated rates and exclusive deals, notifications about COVID requirements and around-the-clock support for their leisure trips.
The company is also continuing to develop TripActions Team Travel, a self-serve solution that launched in June to facilitate gatherings of distributed employees. Earlier this month it added support for meetings and events to Team Travel, leveraging the capabilities it gained with its acquisition of Reed & Mackay in May.
TripActions will also add staff globally, expand its efforts in Europe, the Middle East and Africa – Europe now represents 30% of TripActions’ business - and, says Sindicich, continue to look for merger and acquisition opportunities.
“We’re always looking for companies that would make sense to acquire and work with and add to the portfolio so this could be another deployment of this capital as well,” he says.
“There’s not a prospect we are announcing or have in mind right now, but it would be natural for us to also look at other opportunities as well since we see Reed & Mackay is working so well for us.”