nomad.me | October 28, 2021
With the busy holiday travel on the horizon, industry leaders Nick Reid and Todd Copley has recently launched nomad.me, a new travel subscription service poised to disrupt the industry with breakthrough aggregation technology and a zero commission markup model.
Aimed at savvy leisure and business travelers looking to maximize value, the new platform enables members to pay $295 annually to access the company's proprietary technology to book the lowest possible rates – with a savings up to 60% – at over two million hotels, flights, car rentals, cruises and more.
According to Reid – who has worked in every facet of the travel industry, including for such industry leaders as Thai Airways International – this community-based subscription model allows members to exclusively access the company's proprietary aggregation booking engine.
"We are focused on revolutionizing the travel industry with an easier and improved buying experience, offering the best possible pricing because there are no markups or commissions,"
Copley, a longtime travel industry executive with expertise in the global tour operator sector, travel product development and international hospitality contracting, says nomad.me dovetails into a growing trend – embracing a membership model accelerated by online perusing during the COVID-19 pandemic.
"With the launch of nomad.me, we are meeting a growing demand with forward thinking technology," he said. "The subscription economy was on the rise before the pandemic but intensified its reach into nearly every industry as the outbreak persisted. This trend is expected to continue."
Offering enticing travel perks and deals, nomad.me is a community-based travel subscription business that allows members of its closed user group to access a proprietary aggregation booking engine. For more information, visit https://nomad.me/.
Hyatt Hotels Corporation | September 28, 2021
Hyatt Hotels Corporation (“Hyatt” or the “Company”) (NYSE: H), a leading global hospitality company, announced today the pricing of its public offering of:
$700.0 million aggregate principal amount of senior notes due 2023, which will bear interest at a fixed annual rate of 1.300%;
$300.0 million aggregate principal amount of floating rate senior notes due 2023, which will bear interest at a rate equal to Compounded SOFR (as defined in the prospectus supplement relating to the offering), reset quarterly, plus 105 basis points; and
$750.0 million aggregate principal amount of senior notes due 2024, which will bear interest at a fixed annual rate of 1.800%.
The offering is expected to close on October 1, 2021, subject to customary closing conditions. Hyatt will have the option to redeem all or any portion of the notes at 100% of their principal amount at any time on or after October 1, 2022.
The Company intends to use the net proceeds of the offering to fund a portion of the purchase price for its pending acquisition of Apple Leisure Group (the “Apple Leisure Group Acquisition”), to refinance all of its $750.0 million principal amount of floating rate notes due 2022 and for general corporate purposes, which may include payment of any fees and expenses relating to the Apple Leisure Group Acquisition or any other general corporate purpose the Company may deem necessary or advisable, and to pay fees and expenses related to this offering.
Hyatt previously announced that it intends to fund more than 80% of the $2.7 billion purchase price for the Apple Leisure Group Acquisition with a combination of $1.0 billion of cash on hand and new debt financing, including a portion of the proceeds from this offering and a one-year term loan expected to be funded concurrently with the closing of the Apple Leisure Group Acquisition as part of the previously announced acquisition financing commitment, and the remainder with proceeds of its recently consummated equity offering. The offering is not contingent on the consummation of the Apple Leisure Group Acquisition, and the consummation of the Apple Leisure Group Acquisition is not contingent on the consummation of the offering.
J.P. Morgan is acting as representative of the underwriters, and J.P. Morgan, Deutsche Bank Securities, Scotiabank and Wells Fargo Securities are acting as joint lead book-running managers for the offering.
About Hyatt Hotels Corporation
Hyatt Hotels Corporation, headquartered in Chicago, is a leading global hospitality company offering 20 premier brands. As of June 30, 2021, the Company's portfolio included more than 1,000 hotel and all-inclusive properties in 68 countries across six continents. The Company's purpose to care for people so they can be their best informs its business decisions and growth strategy and is intended to attract and retain top employees, build relationships with guests and create value for shareholders.
Euromonitor International | November 09, 2020
With world arrivals forecast to be down 50% by the end of 2020, the global travel supply chain is under immense pressure. Faced with the reality of a global recession and new waves of the virus, countries are using innovation to accelerate recovery, according to global market research company Euromonitor International’s new report ‘Accelerating Travel Innovation after Coronavirus’.