Thomas Cook Collapses, Ending 178-Year Reign in the Travel Business

Skift | September 23, 2019

Thomas Cook, one of the most well-known and oldest brands in global travel, filed for bankruptcy early Monday UK time, ceasing operations for vacations, bookings, and flights.“Despite considerable efforts, those discussions have not resulted in agreement between the company’s stakeholders and proposed new money providers,” Thomas Cook said in a statement. “The company’s board has therefore concluded that it had no choice but to take steps to enter into compulsory liquidation with immediate effect.”The company filed for liquidation to the UK High Court on Monday.

Spotlight

Global inbound arrivals are expected to grow by 5% to 1.4 billion trips in 2018. On the back of an upgraded economic outlook for major economies such as the US, Japan and the Eurozone, inbound receipts are expected to see an even stronger rise of 11%. Domestic trips are booming in Asia Pacific, where trips are expected to grow by 10% in 2018. Average spend per trip is increasing, again driven by Asia Pacific. Global expenditure is expected to rise by 9%

Spotlight

Global inbound arrivals are expected to grow by 5% to 1.4 billion trips in 2018. On the back of an upgraded economic outlook for major economies such as the US, Japan and the Eurozone, inbound receipts are expected to see an even stronger rise of 11%. Domestic trips are booming in Asia Pacific, where trips are expected to grow by 10% in 2018. Average spend per trip is increasing, again driven by Asia Pacific. Global expenditure is expected to rise by 9%

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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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FEATURES AND ADVICE

TravelWifi Continues Global Growth, Acquires Barcelona-based Wifivox

TravelWifi | November 11, 2020

TravelWifi CEO Wallace Davis announced today the recent acquisition of Barcelona-based Wifivox, the leading provider of mobile Wi-Fi solutions in Spain. Founded in 2013, Wifivox has offices in Barcelona and Madrid. The company offers rentable Wi-Fi hotspot devices that can be ordered online and then picked up or dropped off at major airports and approximately 2,000 locations throughout Spain. Wifivox has a collaborative agreement with the official Barcelona tourism board and maintains more than 830 B2B partnerships in sectors ranging from events and media production companies to travel agencies and the hospitality industry.

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TRAVEL TECHNOLOGY

Washbnb is Raising Funds for a Tech-Enabled Linen Solution for Short-Term Rentals and Hotels

washbnb | May 21, 2021

Washbnb, a tech-enabled linen solution for the short-term rental and hotel industries, has launched a crowdfunding campaign via Wefunder. The startup eliminates the laundry problem for property managers and Airbnb hosts whilst solving a key operational pain point for the reliable supply of hotel-quality bed and linen. Washbnb is democratizing the investment process as a part of its community-driven strategy to grow the business for all stakeholders involved. By launching its seed round via crowdfunding with Wefunder, everyone has the chance to take a position during a startup company during a booming hospitality sector before travel’s predicted comeback, not just wealthy accredited investors. The short-term rental sector has remained resilient during the pandemic and bookings are now at an all-time high consistent with AirDNA going into a summer of revenge travel. Washbnb is about to become an important tool for hosts and managers by eliminating common laundry challenges through automated linen procurement and management. As a tech-enabled solution, the corporate controls linen logistics and quality through data insights while exploring the newest in water and logistics tech to make sure an environmentally sustainable and efficient service. The result's an improved guest experience that reduces travel’s footprint while making businesses easier to work and grow. Daniel Cruz, co-founder, and CEO of washbnb started the corporate in 2020 after handling the gap within the marketplace for an automatic linen solution as an Airbnb host himself battling laundry. Milwaukee-based, washbnb is rooted during a resurgent Midwest city featuring a fast-growing water-tech industry and fertile ground for both hospitality companies and laundry machine manufacturers. Washbnb pivoted during the pandemic with washhero.org and aims to create a community-driven, sustainable company with zebra stripes. Daniel says: “Our customers drive what we do, and that they love washbnb. We take their biggest challenge off of their plates and that we roll in the hay in higher quality, safer, and far more sustainable way. Hosting may be a great business, just check out Airbnb’s recent IPO, and we’re here to support these great businesses on the bottom, where they have it most. It’s a completely new category of business that must be created. Our customers see that and need to take a position because they need to assist. That’s how we build community.” Investment at this stage will fuel talent acquisition, research, and development also as future expansion into fast-growing, short-term rental destinations.

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