The Future Strategy for Luxury Tourism Market 2019, By key players like Abercrombie & Kent Ltd, Cox & Kings Ltd

Market Research Report | June 04, 2019

Growing inclination of people towards unique and exotic holiday experiences, rise in middle and upper middle class spending and the increasing impact of social media on travel industry are the key factors that drive the market growth. Emerging new destinations coupled with rising service standards in the travel industry, is anticipated to further drive the demand for Luxury Tourism, globally.

Spotlight

A new generation of Millennial employees (21 to 30-year-olds) is poised to become a stronghold in the workforce and they are bringing their intensive technology habits with them. A proliferation of consumer and business-focused mobile travel apps and websites designed to meet the needs of this new generation is taking its place alongside traditional corporate online booking tools and consumer travel websites.

Spotlight

A new generation of Millennial employees (21 to 30-year-olds) is poised to become a stronghold in the workforce and they are bringing their intensive technology habits with them. A proliferation of consumer and business-focused mobile travel apps and websites designed to meet the needs of this new generation is taking its place alongside traditional corporate online booking tools and consumer travel websites.

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HOSPITALITY TRENDS

Competition for Leisure Guests Heats Up Between Hotels and Short-Term Rentals

AirDNA | November 15, 2022

A new joint report from hospitality data supplier STR and short-term rental analytics provider AirDNA shows that competition between short-term rentals and hotels has accelerated in the fight for leisure guests, with the price gap tightening and rental supply falling behind in urban markets.During the pandemic, the U.S. short-term rental sector used its supply flexibility to recover faster than hotels, especially in coastal and mountain destinations, pushing rentals' market share to a record 17% of total lodging in summer 2020. Hotels retargeted towards leisure guests to reclaim demand, focusing on urban areas, pushing short-term rentals' market share back to below its pre-pandemic trajectory. "During the pandemic, short-term rentals had an advantage over traditional hotels due to consumer perception of better COVID-19 safety, Now in 2022, hotels can compete on price and have claimed demand on key holidays where, pre-pandemic, they typically lost out on leisure travelers." -AirDNA Vice President of Research, Jamie Lane Hotels Lead in Cities In large cities, short-term rental supply contracted dramatically as demand dropped off in 2020, while government subsidies helped to reduce permanent closures of hotels. As urban demand began to recover in 2022, hotels were ready to accommodate travelers, while urban rental supply remains 17% below 2019. With strict regulations limiting short-term rentals in cities like New York and San Francisco, which both lost 25% of their pre-pandemic supply levels, supply is unlikely to fully recover in these areas. "Looking to the future, hotel supply will likely remain strongest in urban and suburban locations, with low development in coastal and rural areas due to higher barriers to entry, where short-term rentals will likely see more opportunity for growth," -STR's Vice President of Analytics Isaac Collazo. A new STR survey of more than 1,000 travelers shows that value for money is an important factor for rental guests, even more than hotel guests. Despite the perception that rentals are cheaper, in 2019, hotels and comparably-sized rentals were priced around the same, except in urban locations. In large cities, hotels were priced 42.9% higher than rentals, but that gap has closed to 26.6% in 2022. Hotels are now offering lower rates than rentals in all location types except urban and coastal resorts, where the difference is 10%. While rentals' market share is highest in coastal and mountain or lake destinations, in urban and suburban locations their share has flattened or declined. Rentals should continue to grow their market share, albeit at a slower pace than pre-pandemic, led by expansion in resorts and small towns less well-served by traditional hotels. About AirDNA AirDNA helps hosts, property managers, and investors succeed in the short-term vacation rental market by turning rental data into actionable analytics. The Denver-based company has tracked the daily performance of 10 million vacation rentals in 120,000 global markets since 2014 to provide real-time market insights. Their range of online and exportable reports offer a solution for everyone in the industry to analyze trends, price rentals, identify new investment opportunities, and benchmark performance. About STR STR provides premium data benchmarking, analytics and marketplace insights for the global hospitality industry. Founded in 1985, STR maintains a presence in 15 countries with a North American headquarters in Hendersonville, Tennessee, an international headquarters in London, and an Asia Pacific headquarters in Singapore. STR was acquired in October 2019 by CoStar Group, Inc. (NASDAQ: CSGP), the leading provider of commercial real estate information, analytics and online marketplaces.

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TRAVEL TECHNOLOGY,INDUSTRY OUTLOOK

Fareportal and Amadeus Expand Partnership with Integration of NDC Offers

Fareportal | November 18, 2022

Fareportal’s prominence in the travel industry’s adoption of new distribution capability (NDC) to advance travel retailing is growing with its most recent integration of NDC with Amadeus, a leader in global travel technology and long-time partner of Fareportal. The company behind leading online travel agencies CheapOair and OneTravel, Fareportal has been a front-runner in NDC integrations, with multiple airlines supported over the past few years. Amadeus has been a major driver of NDC since the technology standard’s inception and has heavily invested in retailing capabilities to enable this transition for our industry. Amadeus is live with NDC-enabled content in every region of the world and deeply committed to progressing NDC adoption and collaborating to unlock opportunities for value creation. Fareportal is leveraging the benefits of the Amadeus Travel Platform to access NDC-enabled content. Among the advantages is the ability for travel sellers to search, compare, book, and service air content through one single platform. Amadeus currently is partnering with more than 20 airlines to distribute NDC-sourced content in the Amadeus Travel Platform. More than half of them are already making their NDC content available in Amadeus. For the air traveler, the benefit of NDC comes in the form of enhanced retail offerings via a single platform. Passengers can access the full suite of products offered by an airline, all within the OTA’s digital ecosystem. Amadeus’ NDC-enabled solutions allow for complex servicing capabilities for NDC offers, which help streamline customer support, providing the ability to help those travelers who require post transaction service. “Our partnership with Amadeus has continued to grow and expand over the years. This latest integration highlights the strength of its solutions and the benefit Amadeus provides to our brands, CheapOair and OneTravel.” -Werner Kunz-Cho, Fareportal CEO Sam Abdou, Executive Vice President, Airline Distribution, Search and Online, Amadeus, adds, “The fact that our long-term relationship with Fareportal continues to grow is a testament to the strength of our teams and their dedication to technology innovation. We believe that NDC is critical to the advancement of travel retailing and we are dedicated to driving its growth and success for the benefit of all players. Today’s announcement with Fareportal is significant given the role online travel agencies play in advancing NDC and accelerating its adoption around the world. About Fareportal: Fareportal is a travel technology company powering a next generation travel concierge service. Utilizing its innovative technology and company-owned and operated global contact centers, Fareportal has built strong industry partnerships providing customers access to over 500 airlines, a million lodgings, and hundreds of car rental companies around the globe. With a portfolio of consumer travel brands including CheapOair and One Travel, Fareportal enables consumers to book online, on mobile apps for iOS and Android, by phone, or live chat. Fareportal provides its airline partners with access to a broad customer base that books high-yielding international and domestic flight, hotel, and other travel and add-on ancillaries.  About Amadeus: Travel powers progress. Amadeus powers travel. Amadeus’ solutions connect travelers to the journeys they want through travel agents, search engines, tour operators, airlines, airports, hotels, cars and railways. We have developed our technology in partnership with the travel industry for over 30 years. We combine a deep understanding of how people travel with the ability to design and deliver the most complex, trusted, critical systems our customers need. In 2019, we helped connect over 1.9 billion people to local travel providers in over 190 countries. We have a global mindset and a local presence wherever our customers need us. Our purpose is to shape the future of travel. We are passionate in our pursuit of better technology that makes better journeys. Amadeus is an IBEX 35 company, listed on the Spanish Stock Exchange under AMS.MC. The company has also been recognized by the Dow Jones Sustainability Index for the last ten years.To find out more about Amadeus, visit www.amadeus.com.

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DESTINATION AND TOURISM, AIRLINES AND AIRPORTS

Spotnana and American Airlines Partner to Personalize Travel Offers

Spotnana and American Airlines | September 12, 2022

Spotnana, the modern infrastructure for the travel industry, announced it has developed an advanced integration into American Airlines direct channels that supports personalized travel offers. Travelers booking trips through Spotnana’s Travel-as-a-Service Platform can now access NDC enhanced offerings for greater selections including additional booking flexibility and conveniences as well as seamless loyalty program enrollment and membership benefits We’re excited to partner with American Airlines to build the deepest integration that has existed to date between an airline and a travel platform,” said Sarosh Waghmar, co-founder and CEO of Spotnana. NDC was introduced to the travel industry 10 years ago and has seen minimal adoption for corporate travel. We aim to change that by providing the industry with a new modern, cloud-based infrastructure designed to connect the travel ecosystem and deliver a new generation of personalized travel experiences. Spotnana’s integration with American Airlines enables a more seamless, tailored booking experience and offers customers exclusive access to a diverse suite of products and services that elevate the travel journey. Key benefits for corporations accessing American’s modern retail offerings through Spotnana’s Travel-as-a-Service Platform include: Enhanced offerings for great selections – Travelers gain access to products exclusively available through American’s NDC and direct channels, including but not limited to Main Plus and Flagship® Business Plus™. Seamless loyalty program enrollment – Travelers can join American’s AAdvantage® loyalty program with one-click enrollment at time of booking and receive relevant shopping results tailored to AAdvantage® membership benefits. Additional booking flexibility and conveniences – Travelers can purchase ancillary products in advance, modify or cancel trips on a self-service basis, view corporate negotiated rates, and unlock access to Preferred and Paid seats via a comprehensive seat map. “The Spotnana platform utilizes American’s enhanced direct connection to deliver a more seamless booking experience for customers Our corporate customers who book through Spotnana will now have access to a modern retailing experience, inclusive of elevated offers, benefits, and ancillaries they value through a single, corporate-approved online booking tool.” -Neil Geurin, Managing Director of Airline Retailing at American Airlines We’re grateful to work so closely with American Airlines, who is a true industry innovator and pioneer,”said Bill Brindle, VP of Travel Operations at Spotnana. This integration is just the beginning of what is possible through our open Travel-as-a-Service Platform, and the first of many direct connections we plan to build with the world’s leading travel suppliers. About Spotnana Spotnana powers unparalleled global travel experiences. We are modernizing the infrastructure of the travel industry in order to bring freedom, simplicity, and trust to travelers everywhere. Our Travel-as-a-Service Platform makes travel simpler and more affordable for corporations, while enabling our ecosystem of agency, supplier, and technology provider partners to increase operational efficiency, unlock new revenue sources, and accelerate innovation. To learn more, visit spotnana.com.

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