BUSINESS TRAVEL
Expedia Inc | August 11, 2021
Expedia Group, the Seattle-based online travel giant, posted improved results for the second quarter, but cautioned that the resurgence of the pandemic is complicating the recovery of the global travel industry, and its business as a result.
The company’s net loss of $301 million for the second quarter was an improvement over its loss of $753 million a year ago. Adjusted earnings per share were $1.13, exceeding analyst expectations of 60 cents per share.
Revenue for the quarter more than tripled from last year to $2.1 billion, reflecting ongoing signs of recovery for the global travel industry. That compares to revenue of $2.9 billion in the second quarter of 2019, prior to the pandemic.
Gross bookings rose to $20.8 billion, up from $2.7 billion a year ago, but still well below its $28.3 billion in bookings two years ago.
Expedia Group includes travel brands such as vrbo, Orbitz, Hotwire, Trivago, Hotels.com, and Egencia in addition to the flagship Expedia.com.
Despite seeing progress in the second quarter, the spread of the COVID-19 Delta variant and lower vaccine rates in some parts of the world are creating new challenges, said Expedia Group CEO Peter Kern on a call with investors and analysts. Highlights from his comments:
Expedia saw improvement in the overall market and in its business in the second quarter in North America and the U.S., particularly in domestic travel and vacation rentals.
Improvement in international travel, corporate travel, and big city travel was “relatively muted, comparatively,” Kern said.
However, travel has cooled off in July, following the close of the quarter. “There’s a lot of unknowns, including in the U.S., and we’re starting to see some of that percolate through cancellation rates and more volatility in the numbers,” Kern said.
Kern expressed optimism that global travel will ultimately recover from the pandemic.
“We believe that as vaccines continue to roll out across the globe, that will bring greater security and greater comfort and greater willingness to travel,” he said. “But the road may still be bumpy for a while, as we watch all the variants play out and various government responses to them.”
Expedia Group on Thursday announced a marketing promotion for its apps to raise up to $12 million for UNICEF’s vaccination efforts in low-income countries
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TRAVEL TECHNOLOGY
Bidroom | April 01, 2021
Bidroom is working with similar innovators in the travel industry to make the up and coming generation of tech for the subscription time. This implies removing the broker, and carrying the best worth to the two travelers and accommodation suppliers.
Through working with our accomplices, and our own industry knowledge, we realize that requesting that clients join reliability or enrollment programs implies giving them the most ideal worth and experience.
Having a subscription-based model during the Covid-19 the travel industry decline has been a life saver for some organizations. At Bidroom, we're seeing another spray of interest in this on the rear of expanding want for on-demand services and products.
“The time is now for companies to embrace the subscription business model,” said Amy Konary, Founder and Chair of The Subscribed Institute at Zuora, Boston. “Our bi-annual Subscription Economy Index suggests that brands can increase value to their customers through the on-going delivery of services when and where they’re needed,” she added. The subscription economy has seen 437% growth in the last decade, according to new research by the institute.
This inventive method of working with consumers implies making stronger relationships than standard consumer transactions. Since the pandemic hit, Bidroom has been pulling together on improving our technology, while conveying the best item for individuals—and removing the broker.
Bidroom currently has in excess of 80 brands all around the world contributing advantages and limits on travel services and 16,000 visits and exercises to our individuals. Working with channel directors and PMS likewise gives us admittance to the best lodging accomplices - and we have been exceptionally centered around adding new properties to our stock, including the Wyndham and IHG worldwide chains.
About Bidroom
Founded with the mission to make the hotel industry fair for both travellers and hotels, Bidroom is the first membership-based marketplace for travel lovers. Hotels get bookings with no commission, and instead, they offer discounts and added perks to members.
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FEATURES AND ADVICE
TravelWifi | November 11, 2020
TravelWifi CEO Wallace Davis announced today the recent acquisition of Barcelona-based Wifivox, the leading provider of mobile Wi-Fi solutions in Spain. Founded in 2013, Wifivox has offices in Barcelona and Madrid. The company offers rentable Wi-Fi hotspot devices that can be ordered online and then picked up or dropped off at major airports and approximately 2,000 locations throughout Spain. Wifivox has a collaborative agreement with the official Barcelona tourism board and maintains more than 830 B2B partnerships in sectors ranging from events and media production companies to travel agencies and the hospitality industry.
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