TRAVEL TECHNOLOGY
businesswire | May 08, 2023
AMTD IDEA Group together with our subsidiary, AMTD Digital Inc. are happy to announce that the Singapore Building and Construction Authority (BCA) has granted us the License Permit to display and showcase “DAO AMTD” signage on top of the DAO by Dorsett AMTD Singapore.
The latest development serves to demonstrate our unwavering commitment to Singapore as the headquarters of AMTD Digital and to further showcase our brand values in the hospitality industry.
The DAO by Dorsett AMTD Singapore is strategically located in the vibrant central district of Singapore, offering luxurious accommodation to business and leisure travellers alike. The hotel also features high-end amenities and facilities that cater to the discerning taste of guests. With the display of the “DAO AMTD” signage, our guests can now easily identify and locate the hotel from a distance, making their travel experience seamless.
Dr Timothy Tong, Chairman of AMTD Digital, expressed his delight at this development, “We are extremely proud that the DAO by Dorsett AMTD Singapore has received the BCA License Permit to now officially display the DAO AMTD signage on top of its building. We are committed to contributing and creating a sustainable future for Singapore, enhancing the hospitality industry, and further building a strong connectivity between AMTD and the Singaporean community.”
As we continue to build our brand in Singapore and beyond, AMTD IDEA Group and AMTD Digital remain fully committed to providing the best-in-class services to our guests and partners, in person and digitally. We would also like to take this opportunity to thank our staff, partners and stakeholders for their support and contribution towards our success.
AboutDorsett AMTD Singapore
Dao by Dorsett AMTD Singapore; tailored from arrival. Located in the heart of Singapore's Central Business District, Dao by Dorsett AMTD Singapore features 268 high quality serviced apartment units with excellent connectivity, designed to cater to the needs of discerning international business and leisure travlers. Complete your stay with a variety of key recreational facilities, including a 24-hour fitness center, outdoor infinity pool, and The Living Room (Residents’ lounge).
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BUSINESS TRAVEL
prnewswire | April 12, 2023
Whimstay, Inc., the marketplace leader for last-minute vacation rental bookings, announces today that it has secured $10 million in equity financing. The investment will fund key new hires and the development of new products and features focused on search experience, guest engagement, more integrated dynamic pricing, flexibility for guests, loyalty and rewards programs, ancillary fintech products, and multiple conversion initiatives that will generate more bookings for property managers during periods that typically experience lower occupancy rates and RevPAR. Roughly 50 percent of vacation rental nights stay vacant every year. Whimstay is uniquely positioned to book nights that would have otherwise gone unrented. This lost revenue for property managers and owners represents a $60 billion market opportunity.
Whimstay offers travelers the best deals and significant savings on last-minute vacation rentals across North America. For property managers and owners, the company offers better economics, more control over the customer experience, robust reporting and reconciliation, reduced dependency on larger, less user-friendly, and more expensive channels, and, most importantly, generates incremental bookings, revenue, and profitability above and beyond the property manager's direct bookings and those from other channels.
"Closing our financing amidst a myriad of extremely challenging market conditions is a testament to the caliber of our amazing team, our differentiated product offering, the quality of our partner and customer relationships, the size of our market opportunity, and the confidence our investors have in our ability to strengthen our position as the leading vacation rental marketplace focused on booking last-minute stays," said Whimstay's CEO David Weiss.
"Propelled by our proprietary marketing engine, product features and functionality, and unique go-to-market strategy, we're able to attract incremental guests and generate incremental bookings for property managers and owners. We complement a property manager's overall distribution strategy by providing specific capabilities and conducting specific types of missions, all focused on booking last-minute stays. As a result, bookings on Whimstay are up 7x YTD vs. the same period last year, and March was our highest booking month in the company's history. Guest traffic and bookings are further accelerating due to our recent integration into Google Vacation Rentals, giving us access to millions of potential guests."
About Whimstay
Whimstay is a vacation rental marketplace that offers travelers the best deals on vacation rentals across North America. For property managers and owners, Whimstay books nights last-minute that would have otherwise gone un-rented, and certain property managers are now utilizing the company to fill vacancies during shoulder seasons, off-seasons, and other booking windows throughout the year that typically experience lower occupancy rates and RevPAR. From beautiful beach homes to the world's best ski retreats to cozy mountain cabins and more, Whimstay currently offers vacation rental homes and condos in the U.S., Canada, and Mexico and is adding new properties and destinations daily.
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BUSINESS TRAVEL
prnewswire | April 17, 2023
Tripadvisor, the world's largest travel guidance platform, released the third edition of its Review Transparency Report, revealing detailed trends around review contributions and the steps taken to ensure the integrity of user-submitted content.
The report, which is published biennially, analyzed a full year's worth of community contributions - over 73 million reviews and opinions in total - to give readers a deep dive into global submissions. The report also reveals how review trends have shifted since 2020, when the previous edition of the report was published. Key trends include:
Strong growth for reviews and business listings
The report reveals a significant increase in the volume of reviews left on the platform during 2022 - up +20% from 2020 levels to 30.2 million - as the world's explorers returned in force following two years of lockdowns, and restrictions. During 2022, Tripadvisor also saw business owners respond to over 10 million reviews, while community members asked and answered more than 940,000 questions from fellow users.
As global recovery continued in 2022, the platform saw an influx of new listings created, with 1.3 million new businesses added to the site, leading to a record 11.1 million listings at year end, up +16% from 2020's total of 9.6 million. Regionally, two out of five newly listed businesses were located in Europe, while Asia and North America each accounted for about 23% of the total.
Success in combating fake and paid reviews
Only a fraction of total review submissions from 2022 (4.4%) were determined to be fake or fraudulent, totaling just over 1.3 million. Of these, Tripadvisor's robust detection and moderation processes prevented 72% of submissions from ever making it onto the platform, a significant improvement on the 67% prevented during 2020.
Reviews from paid review companies represent an even smaller proportion of fraudulently submitted content, but have the very real capability to negatively impact consumer trust. In total, Tripadvisor removed 24,521 reviews associated with paid review companies in 2022. Nearly half of these originated from just six countries: India, Russia, U.S., Türkiye, Italy, and Vietnam.
Once fraudulent content has been identified and removed, Tripadvisor takes a range of actions against offending businesses, including content bans, ranking penalties and for the most severe cases, red badges. The Review Transparency Report reveals that Tripadvisor applied a ranking penalty to more than 33,000 businesses for fraud and issued 341 red badge warnings in 2022, each of these enforced with a ranking penalty.
"Tripadvisor is built on trust, and we will never stop improving our systems to ensure our community has access to reliable content and the businesses listed can compete on a level playing field," said Becky Foley, Vice President, Trust & Safety at Tripadvisor. "The findings from this report show that our approach is working; we're catching a higher proportion of fraudulent content before it is published, with nearly three-quarters of fake reviews never even making it to the platform."
Progress in helping to keep travelers safe
During 2022, almost 600 reviews were posted by Tripadvisor's community that described a serious safety incident during a travel or dining experience. Listings associated with these types of reviews, are subject to additional measures, aimed at increasing awareness among travelers.
Tripadvisor is able to place additional filters on listings associated with reviews that contain warnings or serious allegations, helping users more easily identify potentially problematic businesses. And this approach is clearly working, with reviews that reveal a serious safety incident over 10 times as likely to be read, than reviews that do not.
"I'm incredibly proud of our efforts to shine a light on the more troubling review content submitted by our community," added Becky Foley. "Sharing details of distressing incidents requires courage and all those who have been brave enough to share their experiences will hopefully take heart from the fact that their reviews are being seen by others and are making a real-world difference."
About Tripadvisor
Tripadvisor, the world's largest travel guidance platform*, helps hundreds of millions of people each month** become better travelers, from planning to booking to taking a trip. Travelers across the globe use the Tripadvisor site and app to discover where to stay, what to do and where to eat based on guidance from those who have been there before. With more than 1 billion reviews and opinions of nearly 8 million businesses, travelers turn to Tripadvisor to find deals on accommodations, book experiences, reserve tables at delicious restaurants and discover great places nearby. As a travel guidance company available in 43 markets and 22 languages, Tripadvisor makes planning easy no matter the trip type. The subsidiaries of Tripadvisor, Inc. (Nasdaq: TRIP), own and operate a portfolio of travel media brands and businesses, operating under various websites and apps.
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