TRAVEL TECHNOLOGY
Sojern | March 02, 2023
Sojern, a travel marketing platform, shared data emphasizing that the Middle East brought travel momentum in 2022. After the Covid19 pandemic, it is trying its best to recover income from the tourist markets in UAE and KSA, reaching more travelers for 2023.
Recent travel reports suggest that demands for regional hotels are increasing in middle eastern countries than in 2019. There was a sudden increase in travel booking for the region in Dubai's 2020 Expo and World Cup 2022. Its latest lodging data validates this condition and states that the revenue generation from this region is higher than those in 2019 are from this area. The inbound travel demand is rising from African, Latin American (LATAM) and Asia-Pacific (APAC) markets, and KSA has the most increase in demand.
Based on the data of February, it foresees that flight searches are increasing year on year (YoY) worldwide, with approximately 36% from US & Canada, 48% from EMEA, 30% from LATAM,72% from APAC, and 23% from Caribbean. The FIFA World Cup 2022 event enhanced its travel business and is gradually returning to its glory.
Managing Director of MEA&I Sojern, Stewart Smith said, "With our latest data showing that travel intent to the Middle East is holding strong, it's heartening to see that the World Cup has given the region a boost." He added, "Long flight times and potential misconceptions regarding the region as a travel destination may continue to drive relatively cautious travel planning. However, a flurry of ongoing events in the region combined with sustained and powerful marketing strategies from newer gulf destinations such as Kingdom of Saudi Arabia will continue to influence valuable US travelers and other global visitors. Never underestimating the power of data, activating multichannel activation at scale and ensuring marketing is always on will help set hoteliers and destination marketers up for success in this pivotal time for tourism."
(Source – Cision PR Newswire)
About Sojern
Headquartered in San Francisco, California, Sojern, an advertising solutions provider for the travel industry, offers services for online advertising, travel marketing, Facebook marketing, hotel marketing, travel advertising, ad tech, hotel advertising, tourism marketing, co-op marketing, attraction marketing, tourism advertising, multichannel, display advertising, digital marketing, social media advertising, metasearch, programmatic display, programmatic video, dynamic ads, search engine marketing, and connected TV. With artificial intelligence and traveler intent data, it provides multichannel marketing solutions for direct demand drive. In addition, it connects hotels, travel spots, tourism boards and travel markets for customer engagement and worldwide coverage.
Read More
BUSINESS TRAVEL
globenewswire | May 18, 2023
Mondee Holdings Inc. a technology-driven, next-generation marketplace in a $1 trillion segment of the travel market, today announced the acquisition of Consolid Mexico Holding, S.A.P.I. de C.V. (“Consolid”), a high-growth, leading travel provider based in Mexico with a global presence and an emphasis in Latin America (“LATAM”).
Mondee is already a market leader in North America and is quickly growing its leadership in LATAM. Headquartered in Mexico City, Consolid enjoys a global presence and clientele, with a focus on Mexico, the second largest market in Central and South America, as well as other countries in the region. Mondee’s acquisition of Consolid supports continued expansion in LATAM as it comes on the heels of the acquisitions of Brazil-based Orinter in January 2023 and Interep in May 2023.
Consolid’s 2022 net revenue, which has a large air component, was approximately $8 million, with a 6.8% take rate, and its 2022 adjusted EBITDA was over $1 million. The acquisition was concluded with approximately $4 million in cash, plus an additional future earn-out of cash and shares in Mondee stock with a combined value of up to $5 million to increases in adjusted EBITDA.
With an 18-year operating history, Consolid enjoys a leading business to business to consumer (“B2B2C”) position within the air and ground-arrangement travel markets in Mexico. Consolid serves an estimated 1,000 customers globally, with concentrations in Mexico and LATAM, through its “Consolid” and “Travel Fan” brands.
Following the successful acquisitions of Orinter and Interep, the present acquisition serves to expand the distribution of Consolid's travel content by means of Mondee's vast network of over 55,000 travel affiliates and 125 million closed group members. Furthermore, the acquisition provides Mondee with access to additional regional and local content. The Company intends to leverage its proprietary technology platform and introduce revenue enhancements such as FinTech and ancillary solutions for Consolid customers while optimizing expenses to realize substantial top-line and bottom-line synergies.
Mondee's Chairman, CEO, and Founder, Prasad Gundumogula, stated, "We are thrilled to welcome Consolid's CEO Judith Guerra Aguijosa and experienced management team into the Mondee family and look forward to helping provide their customers with additional products and services. We have every confidence they will continue to grow the business actively within their markets. The recent acquisitions of Orinter, Interep and now Consolid, further reinforce Mondee’s growing market presence in Brazil, Mexico, and throughout the Americas. Our strategy is to continue expanding our footprint in LATAM and other attractive global regions through the acquisition of businesses that complement and synergize with our existing solutions, thereby enhancing our expert-backed experiential content."
Consolid's CEO, Judith Guerra Aguijosa, said, "The entire Consolid team is excited to join the Mondee family and work towards unlocking the global growth potential of our combined offerings and capabilities, with early emphasis in Mexico and more broadly across LATAM. We look forward to leveraging Mondee's cutting-edge technology and industry-leading expertise to enhance our customers' travel experiences. With our shared commitment to innovation and customer satisfaction, we are confident that together we can redefine the travel industry in LATAM and beyond."
About Mondee Holdings, Inc.
Founded in 2011 and headquartered in Austin (Texas), Mondee Holdings, Inc. is a group of notable travel service, technology, and content companies bringing disruptive innovation to the leisure, corporate, and retail travel markets. It provides a groundbreaking technology platform of mobile, SaaS, and cloud products and services to a global customer base, handling over 50 million daily searches and billions of dollars in transactional volume each year. Its network includes more than 50,000 gig economy workers and leisure travel advisors, 500+ airlines, and over one million vacation rentals and hotels.
Read More
BUSINESS TRAVEL
prnewswire | May 03, 2023
Travelpass Group, a leading provider of travel technology and booking solutions, announces the launch of its new trip-planning platform, a wanderlust-inspired site that delivers both public and private discounted room rates and curated experiences for all explorers. By leveraging a multi-supplier network of hotels, Travelpass.com unlocks lodging prices and serves up support, inspiration and community along the journey.
The Travelpass platform provides users with tools that simplify and enhance the trip-planning experience. Anyone visiting the site will have access to discounted hotel rates within North America. To browse its extensive inventory pool, travelers can create a free member log-in for access to lodging deals that are otherwise not publicly available. A 24/7 team of agents are also reachable via phone to unlock the deepest discounts possible and provide customer support. Once a traveler finds the just-right destination, bookings are processed directly on the Travelpass site.
"The modern traveler demands a straightforward platform that delivers transparent pricing and customized trip-planning tools, so they can efficiently book an incredible getaway," explains CEO Ryan McCoy. "The travel industry is known for its lethargic approach to innovation we haven't seen major disruption since the advent of rideshare apps. What sets Travelpass apart is our access to multiple supply channels, allowing us to provide insider rates as well as technology-enhanced, personalized trip-planning tools."
With summer travel starting to heat up, certain cities are already experiencing an influx of bookings by travelers attempting to get ahead of the inflation and availability curve of hotel rates. Travelpass Group found the top five most popular U.S. cities being booked between May 1 to Sept. 30 this year are:
Las Vegas
Orlando, FL
Nashville, TN
Seattle
New York
No matter where you choose to explore this summer, Travelpass is creating better travel experiences with transparent pricing and easy-to-access support. According to 2022 data from Google, 43% of travelers stated that the length of the research cycle before completing a booking was at least one month. The company's platform streamlines the typically arduous trip-planning process so travelers can plan their whole vacation in one place, with 59% of summer travelers opting for the ease of booking over the phone with the support of the Travelpass team.
"Travelpass is for the explorer-at-heart. We are passionate about enriching people's lives through travel and that sentiment drives every aspect of this company," says Austin Lowe, Travelpass President. "This platform opens new doors while gathering a growing community of curious and fun travelers who want to inspire one another through their experiences. The adventure is just beginning."
Travelpass plans to roll out several new tools in the coming months, including an itinerary planning tool and a travel management app, as well as booking options for destination activities, such as concerts and sporting events. The platform will also host personalized travel agent support and complement its domestic inventory of hotels with international offerings. Explorers hankering for trip-planning guidance can turn to Travelpass for AI-fueled travel recommendations leveraging ChatGPT. Users will have the option to create and save draft itineraries and share them with friends and family to collaborate on.
About Travelpass
Travelpass Group unlocks adventure for all explorers, changing the landscape of travel planning by delivering a vast inventory of hotels and vacation experiences worldwide. Our mission is to open new doors and enrich people's lives through travel. We're not afraid to challenge ourselves and the status quo in order to create a better travel experience, and we love the thrill of finding the best possible value. We promise the straightforward, inside scoop on every destination, starting with great rates and supporting travelers throughout the journey.
Read More