Norwegian and Jetblue plan interline

Buying Business Travel | October 18, 2019

Norwegian and Jetblue plan interline
Low-cost carriers Norwegian and Jetblue have announced plans to form an interline agreement that would see passengers able to book flights from Europe to destinations across the US.Under the plans, customers would be able to book transatlantic services and connecting flights to points within the US in one transaction, with the airlines hoping to launch the partnership for the summer 2020 season. According to Norwegian, the agreement would connect more than 60 US and nearly 40 Caribbean and Latin American cities to its network via JFK, Boston and Fort Lauderdale airports. The carrier currently offers more than 20 non-stop routes to the three hubs from Europe.

Spotlight

International tourist arrivals have almost quadrupled over the past 30 years and domestic tourism has also intensified in most developed and newly industrialized countries. At the same time, tourist movements have spread geographically to reach practically all countries of the globe, becoming for many of them an important economic sector in terms of income generation, foreign exchange earnings and employment creation.

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HOSPITALITY TRENDS

PRISM HOTELS & RESORTS ACQUIRED BY AIMBRIDGE HOSPITALITY

Prism Hotels & Resorts | December 15, 2021

Dallas-based Prism Hotels & Resorts, an award-winning, full-service hotel management, investment and advisory services company representing more than 48 properties across the country, has been acquired by Aimbridge Hospitality, a leading global hospitality company. The terms of the deal will not be disclosed. The announcement was made by Steve Van, President & CEO of Prism Hotels & Resorts and Aimbridge President & CEO Michael J. Deitemeyer. In addition to a strong presence in traditional hotel management, Prism boasts the industry leading hotel receivership advisory and "turnaround" services involving the management and restructuring of properties that are economically distressed. In a year marked by immense change, it's fitting that we announce the biggest moves in our company's storied 38 year history," Van said. "Close relationships have become integral to our company's identity, and we place tremendous value in our people with whom we've grown together and the great properties we service. It's with those values in mind that we have selected Aimbridge Hospitality to carry the Prism legacy forward. Aimbridge's access to best-in-class resources and systems, coupled with their highly effective and experienced leadership team and deep understanding of our Most Satisfied Owner philosophy, makes them a perfect fit. The Prism Difference is alive and well, and we know the passion and dedication of our teams on the ground will continue to shine through this transition. We are inspired by this opportunity and excited to be part of Aimbridge Hospitality as we write the next chapter of history together. Our best is yet to come. "We are excited to continue Aimbridge's growth with the acquisition of Prism.,With our global resources and Prism's stellar reputation, this acquisition presents great opportunity for all of us. We look forward to welcoming their hotels, owners and talented team to Aimbridge and taking Prism's incredible Most Satisfied Owner approach and robust lender services arm to new heights together." -Michael J. Deitemeyer, President & CEO of Aimbridge Hospitality About Prism Hotels & Resorts As an award-winning, full-service hotel management company, Dallas-based Prism Hotels & Resorts has developed a reputation for operational excellence by increasing hotel performance and delivering measurable results. Recently, Prism was selected as 2021 Strategic Partner by Hyatt. The company was also named Best Full-Service Operator in The Americas by Hyatt, received back-to-back Connie Pride Merit Awards from Hilton, and earned Franchise Hotel of the Year for the Hyatt Regency LAX. With 35 years of experience, Prism leverages top industry talent to produce a best-in-class experience that extends from the front desk to the bottom line. Prism manages a portfolio of over 30 hotels from multiple institutional and private owners including urban, suburban and resort destinations. The company has expertise managing all major brands as well as independent destination hotels. For more information, please visit www.prismhotels.com. About Aimbridge Hospitality Aimbridge Hospitality is a leading, global hospitality company offering best-in-class hotel management services across a broad spectrum of franchised branded full service, select service, luxury hotels, destination resorts, convention centers and lifestyle hotels. Aimbridge's premium portfolio represents approximately 1,500 properties in 49 states and 20 countries, inclusive of pipeline. With the most robust brand diversity in the industry, Aimbridge and its affiliates represent 84 lodging brands, in addition to more than 82 independent boutique/lifestyle hotels in the portfolio. As the world's largest third-party operator, Aimbridge is dedicated to its mission to leverage its scale to add value for owners and opportunities for associates better than any hospitality operator. Aligned with a concentrated focus, agility, and expertise for each vertical, Aimbridge drives market success for hotels and optimizes investment returns for owners. Aimbridge Hospitality's global headquarters is based in Plano, Texas, with additional corporate offices in Atlanta, Calgary, Fargo, Puerto Rico, and Washington, D.C. Evolution Hospitality, Aimbridge's Lifestyle Division, is based in San Clemente, Calif. Aimbridge's International Division, Interstate Hotels & Resorts, has supporting offices across Europe in Amsterdam, Birmingham, Glasgow, and Moscow. The company's division in Mexico, Group Hotelero Prisma, has offices in Monterrey and Mexico City. For more information on Aimbridge Hospitality, please visit www.aimbridgehospitality.com and connect with Aimbridge on LinkedIn.

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BUSINESS TRAVEL

Hyatt to Acquire Apple Leisure Group, Expanding Global Brand Presence in Luxury Leisure Travel

Hyatt Hotels Corporation | August 16, 2021

Hyatt Hotels Corporation today announced that Hyatt has entered into a definitive agreement to acquire Apple Leisure Group (ALG), a leading luxury resort-management services, travel and hospitality group, from affiliates of each of KKR and KSL Capital Partners, LLC for $2.7 billion in cash. The transaction is anticipated to close in the fourth quarter of 2021, subject to customary closing conditions. ALG’s resort brand management platform AMResorts® provides management services to the largest portfolio of luxury all-inclusive resorts in the Americas under the AMRTM Collection brand portfolio, including well-known brands Secrets® Resorts & Spa, Dreams® Resorts & Spas, Breathless® Resorts & Spas and Zoëtry® Wellness & Spa Resorts as well as the fast-growing Alua® Hotels & Resorts brand, which is expanding in European leisure destinations. The acquisition also includes ALG’s membership offering, Unlimited Vacation Club®, travel distribution business ALG Vacations®, as well as destination management services and travel technology assets. Following the completion of the transaction, ALG’s business will continue to be led by current ALG CEO Alejandro Reynal and the current ALG leadership team. Mr. Reynal will become a member of Hyatt’s executive leadership team and report to Hyatt CEO Mark Hoplamazian. “With the asset-light acquisition of Apple Leisure Group, we are thrilled to bring a highly desirable independent resort management platform into the Hyatt family,” said Mark Hoplamazian, president and chief executive officer, Hyatt. “The addition of ALG’s properties will immediately double Hyatt’s global resorts footprint. ALG’s portfolio of luxury brands, leadership in the all-inclusive segment and large pipeline of new resorts will extend our reach in existing and new markets, including in Europe, and further accelerate our industry-leading net rooms growth. Importantly, the combination of this value-creating acquisition and the $2 billion increase in our asset sale commitment will transform our earnings profile, and we expect Hyatt to reach 80% fee-based earnings by the end of 2024.” ALG’s hotel portfolio consists of over 33,000 rooms operating in 10 countries. The portfolio has grown from nine resorts in 2007 to approximately 100 properties by the end of 2021 and has a pipeline of 24 executed deals with a large number of additional hotels in the development process. ALG’s Unlimited Vacation Club® is an exclusive travel club whose participants enjoy preferred rates and other benefits at AMR™ Collection properties. With over 110,000 members, Unlimited Vacation Club® membership has grown at a compounded annual growth rate of 18% over the last five years. “Combining Hyatt’s deep expertise and global brand footprint with ALG’s strong resort brands, operating capabilities and robust development plans will elevate our differentiated position and create a leader in luxury leisure travel,” said Alejandro Reynal, chief executive officer, Apple Leisure Group. “On behalf of everyone at ALG, I am grateful to our partners at KKR and KSL who supported us in building the platform into what it is today. I am excited to have our team join the Hyatt family and I anticipate a robust growth journey ahead as the industry expands and we are able to provide a best-in-class leisure offering to an even larger group of travelers around the world.” “Today is a great milestone in what has been a story of growth, resilience, and dedication to world-class leisure experiences by an outstanding team at Apple Leisure Group,” said Chris Harrington and Rich Weissman, partners at KKR and KSL Capital Partners, respectively. “There is simply no better home for ALG to continue on its growth trajectory than being part of Hyatt.” Hyatt to Discuss Transaction on Webcast Scheduled for Monday, August 16 at 7:30 a.m. CDT

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TRAVEL TECHNOLOGY

Buy Now, Pay Later Leader Uplift Launches Partnership With Tripster

Uplift, Inc. | August 19, 2021

Uplift, the leading enterprise Buy Now, Pay Later (BNPL) solution serving the world's top travel brands, has announced a new partnership with Tripster - the premier all-in-one travel booking site for one stop destination trip planning. Tripster customers can easily plan their entire vacation in one place and pay over time with surprise-free monthly installments through Uplift. When booking on Tripster, customers can choose from more than 30 destinations across the United States and easily package hotel accommodations, experiences, theme park tickets and more all with just a few clicks. Customers can build their own vacation package and bundle these purchases for immediate savings. Tripster takes great pride in vetting every experience and destination to get the most out of each vacation complete with side by side comparisons and customer reviews to ensure the best experience imaginable. "Tripster has always believed that a vacation shouldn't feel like work. With the addition of flexible payment options through Uplift, we've taken one more potential stress point out of travel planning by allowing our customers to spread the cost of their vacation over low monthly payments," said John Johnson, Founder & CEO for Tripster. "We selected Uplift as our exclusive BNPL partner. Uplift offered us the best suite of tools to help deepen our customer loyalty and increase average order values." Uplift is seamlessly integrated into the Tripster booking process, on all platforms including desktop and mobile. Customers will see the total cost at the time of booking along with the monthly payment amount making it easy to budget for and experience the vacation they deserve. There are no late fees or prepayment penalties and customers can travel even before they are finished making their payments. Uplift partners with more than 200+ of the world's leading airlines, cruise lines, resorts and other major travel brands to offer BNPL payment options that help people make meaningful purchases and get the most out of their travel experiences. Tripster guests can pay through Uplift's flexible payment options for purchase amounts beginning at $100. For example, a customer may select a hotel package with Orlando theme park tickets priced at $800, instead of paying the entire amount up front, Uplift gives customers the luxury of zero money down at the time of booking and instead spreading the total cost over 12 easy monthly payments of $78.29. "From coast to coast Tripster offers incredible experiences which are a great addition to any vacation and they are now even more affordable when guests opt to pay over time with Uplift," said Tom Botts, Chief Commercial Officer for Uplift. "We are honored to be selected by Tripster as their BNPL partner, providing more people the opportunity of affordable travel to create memories for a lifetime." Uplift's BNPL flexible payment options are now available for bookings on Tripster in some of their most popular vacation destinations, including: Florida: Miami, Orlando, St. Augustine and Tampa California: Los Angeles, San Diego and San Francisco Texas: Austin and San Antonio North Carolina: Asheville and Charlotte Tennessee: Gatlinburg and Pigeon Forge About Tripster Find thousands of things to do and great places to stay - Tripster is a one stop shop to build the ideal vacation package. From fun vacations at top destinations across the United States to offering discount tickets to theme parks, tours, soft adventure, Broadway shows, Vegas productions, aquariums, and lots more. Book a hotel, condo or vacation home with Tripster as well, and save more money by bundling with tickets. In addition, customers can find valuable package savings and helpful customer support from real people. One account, one purchase, all in one place. Tripster is the easy route. About Uplift Uplift is the leading Buy Now, Pay Later solution that empowers people to get more out of life, one thoughtful purchase at a time. Serving the world's top enterprise level travel brands, Uplift's complete range of flexible payment options drive higher conversion and loyalty for partners, while giving customers a simple, surprise-free way to pay over time with no late or early payment fees. Uplift is currently available throughout the United States and Canada

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Spotlight

International tourist arrivals have almost quadrupled over the past 30 years and domestic tourism has also intensified in most developed and newly industrialized countries. At the same time, tourist movements have spread geographically to reach practically all countries of the globe, becoming for many of them an important economic sector in terms of income generation, foreign exchange earnings and employment creation.