McKinsey & Company Study Observes Travel Booking Burst After Restrictions Lift

Dramatic changes in consumer behavior during the coronavirus pandemic have been hurting companies’ profits and sales. One of the most troublesome new consumer behaviors is engaging in short bursts of booking travel online. McKinsey & Company has been studying travel search and booking data to detect patterns. The consultancy believes that nimble suppliers and resellers will gain if they adopt more nimble marketing and pricing strategies to cope with the new realities.

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Travel Technology, Airlines and Airports

Sabre and IAG expand partnership with multi-year distribution agreement including NDC content

PR Newswire | January 11, 2024

Sabre Corporation, a leading software and technology provider to the global travel industry, has entered into a multi-year distribution agreement with International Airlines Group (IAG) that will expand their existing partnership and further promote modern travel retailing practices. The agreement will allow Sabre-connected travel buyers and agencies to sell traditional EDIFACT content as well as having competitive access to NDC offers from British Airways, Iberia, Aer Lingus and Vueling – including Additional Price Points and ancillaries – through the Sabre travel marketplace globally. This enhanced content will provide travel agencies with a wider range of options to compare and shop for, while travelers will benefit from an improved experience with more choice and transparency. Sabre and IAG's airlines are working closely together and will communicate as NDC content is rolled out to Sabre-connected travel agencies on a carrier-by-carrier basis. The agreement between Sabre and IAG underscores the industry's shift towards modern travel retailing, where airlines can differentiate their offerings and provide more personalized experiences to travelers. Both Sabre and IAG are committed to advancing the NDC standard as a key component in the industry's evolution towards modern airline retailing enabled by offers and orders. Colm Lacy, British Airways' Chief Commercial Officer, said: "We are on a journey to A Better BA and we continue to invest across the business as part of that commitment. Not only are we improving the experience of those customers who fly with us, but also the way we work with our valued travel agent and travel buyer partners. We understand how valuable retailing is to them, and IAG's partnership with Sabre allows us to make a wide range of attractable offers available even further across the globe." This agreement is another milestone in the IAG strategy to embrace digital retailing practices and offer more opportunities for customers to access NDC content. The partnership with IAG demonstrates Sabre's continued commitment to driving value and serving the diverse interests of the global travel ecosystem. "We are very excited about what's ahead. The travel industry is entering a new era of personalized retailing that will bring better experiences for travelers and new revenue opportunities for airlines and travel agencies," said Roshan Mendis, Chief Commercial Officer, Sabre Travel Solutions. "It's fantastic to work with a strong, forward-thinking partner like IAG that is just as committed as we are to driving the industry forwards."

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Hospitality Trends, Hospitality Management

Auberge Resorts Collection Announces Strategic Partnership with Bdt & Msd Partners

PR Newswire | February 02, 2024

The Friedkin Group announced today that the company has entered into a strategic partnership with BDT & MSD Partners ("BDT & MSD"), a merchant bank built to serve the distinct needs of business owners and strategic, long-term investors. BDT & MSD, through its affiliated hospitality investment vehicle, will make a minority investment in Auberge Resorts Collection, the manager of the award-winning portfolio of luxury hotels, resorts, residences and private clubs set in some of the world's most desirable locations. In addition, BDT & MSD's hospitality vehicle intends to invest significant capital towards acquiring and developing luxury hotel and residential assets that will be branded and managed by Auberge Resorts Collection. The partnership reflects BDT & MSD's belief in Auberge Resorts Collection's unique brand positioning and focus on creating one-of-a-kind luxury hospitality experiences. The investment will support Auberge's continued strategic growth in the Americas, Europe and beyond, with a focus on gateway urban markets and high-profile experiential destinations. "This partnership further solidifies Auberge Resorts Collection's position as the leading name in boutique luxury hospitality and marks a new and exciting era for our world-class portfolio," said Dan Friedkin, chairman of Auberge Resorts Collection and chairman and CEO of The Friedkin Group. "BDT & MSD's differentiated, long-term capital and expertise in luxury hospitality investments makes them a perfect strategic partner and will allow us to further grow the strength of the Auberge brand." "Auberge is a world-class manager of distinctive luxury hotel properties, with an exceptional track record of delivering curated guest experiences in the world's leading hospitality markets. We are excited to be a part of its future and look forward to partnering with Auberge's talented team to build on its differentiated strengths and accelerate further growth," said Coburn Packard, partner & head of real estate at BDT & MSD. Since becoming part of The Friedkin Group in 2013, Auberge Resorts Collection has grown into the leading name in boutique luxury hospitality, comprising 27 unparalleled properties across the U.S., Latin America and Europe, with a development pipeline of over a dozen hotels and two additional hotels planned to open in Florence and South Carolina this year. While each property is unique, all share a crafted approach to luxury and bring the essence of the location to life through one-of-a-kind design that reflects the destination, exceptional cuisine and dining experiences that attract both the local community and global traveler, innovative spas and wellness retreats and highly personalized service.

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Travel Technology, Airlines and Airports

Trip.com Group and LATAM Airlines Group Partner to Enhance Travel Experience Through NDC Technology

PR Newswire | January 22, 2024

Trip.com Group, a leading travel service provider, announced today the signing of a new NDC agreement with LATAM Airlines Group. This agreement between the two companies aims to provide a contemporary and streamlined ticketing experience for global travellers. It also offers unparalleled connectivity to over 144 destinations covered by LATAM Airlines across 22 countries and regions, including Latin America, the Caribbean, North America, Europe, Africa, and Oceania. The key benefit of this agreement is the adoption of NDC standard technology. This technology gives customers access to a complete and more comprehensive selection of airline offerings and the option to buy additional products, services, and add-ons such as baggage allowance and seats. Moreover, customers can access a broader range of ancillary services and more detailed information by browsing the change and cancellation policy section during checkout, leading to improved Trip.com Group and LATAM Airlines Group's after-sales services. Juan Villanova, Sales Manager of Trip.com for Spain and Latin America, comments: "Trip.com is a cutting-edge online travel company that leads the way in technology. Our commitment is to improve our product offerings to guarantee the highest customer satisfaction. With this tech solution, our passengers will have access to an improved and more competitive selection of flights and products." The agreement will include integrating a shopping engine for ticket sales via some of Trip.com Group's leading brands, offering a cost advantage to both suppliers and customers. Henk Van der Velde, Regional Director for Southern Europe and Latin America for Trip.com Group's flight Department, adds: "We are delighted to collaborate with LATAM Airlines Group in the implementation of an NDC standard, and offer solutions for everyone via a shopping engine, which has yielded excellent results. I look forward to continuing this collaboration and bringing new features that positively impact our customer's travel experience." Andreas Schek, Vice President of Sales and Branding of LATAM Airlines Group, adds: "We are proud of this collaboration with Trip.com Group on the implementation of the NDC standard, as it allows us to explore ways to enhance its efficiency further. This is a significant milestone in the future of distribution that will benefit our global customers."

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