Thomas Cook Needs Additional Funds to Get Through the Winter

Skift | August 12, 2019

Thomas Cook Group Plc fell the most in a month after the debt-laden travel giant said it needs more than $1 billion for a recapitalization meant to tide it through the winter, when fewer Europeans go on vacation.The U.K. tour operator has made significant progress toward finalizing a bailout including an added 150 million pounds ($181 million) from bondholders, it said in a statement Monday. That would be on top of a 750 million-pound package agreed with Cooks main lending banks and Chinese investor Fosun.The funds “will provide further liquidity headroom through the coming 2019/20 winter cash low period and ensure the business can continue to invest in its strategy,” London-based Thomas Cook said.

Spotlight

Smart technologies reach into almost all aspects of life nowadays, although they are often not yet noticed by users and taken as a given in a lot of cases. This research project is concentrated on the iBeacon technology which is still rather new to the industry and there is consequently also not much existing research yet about the connection between these products and the degree to which they actually enhance the customer experience.

Spotlight

Smart technologies reach into almost all aspects of life nowadays, although they are often not yet noticed by users and taken as a given in a lot of cases. This research project is concentrated on the iBeacon technology which is still rather new to the industry and there is consequently also not much existing research yet about the connection between these products and the degree to which they actually enhance the customer experience.

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TRAVEL TECHNOLOGY, INDUSTRY OUTLOOK

Expedia Group Launches New Global Social Impact & Sustainability Strategy

Expedia Group | September 14, 2022

Expedia Group announced its new global social impact and sustainability strategy to advance a travel ecosystem that is responsible, open, and accessible to all. Combining the company’s mission, purpose, and values with its traveler-centric mindset, the Open World™ social impact and sustainability strategy is focused on three priorities – increasing access for underserved travelers, democratizing the travel economy, and innovating sustainable solutions for the future of travel. Earlier this year, the company announced its Open World technology platform – created for partners of all sizes to leverage and configure products and services needed to succeed in the travel ecosystem. Aligned with this innovation, and the belief that travel is a force for good, the next iteration of Open World extends to the traveler experience, community engagement, and environmental impact. “Travel is transformative. It broadens horizons, strengthens connections and changes perspectives. With our new Open World™ social impact and sustainability forward-looking plans, we will further our mission to power travel for everyone, everywhere,Travel needs to lighten its footprint on the planet, and everyone should be able to experience it and receive the associated benefits. Now is the time to innovate the existing model. We have a responsibility to enable a stronger, more sustainable industry.” -Peter Kern, Vice Chairman and Chief Executive Officer of Expedia Group. The Open World™ social impact and sustainability strategy will tackle inequities in travel, accelerate meaningful change for the mosaic of travelers and communities that power the global industry, and ensure a healthy planet. Expedia Group’s social impact and sustainability strategic framework includes: Inclusive pathways for underserved travelers Unfortunately, historic and social barriers still too often limit equitable and accessible travel. Per Expedia Group Media Solutions’ recent Inclusive Travel Insights Report1, demand is increasing as consumers are seeking more inclusive travel offerings when searching and booking. Expedia Group is increasing its own capabilities to improve the experience of underserved travelers by identifying and helping to lessen gaps. For example, Expedia.com has made improvements to accessibility filters to include options like elevators, service animal accommodations, roll-in showers, sign-language staff availability, and also expanded search features for travelers such as LGBTQIA+ welcoming properties. What’s Next? To ensure more people are able to experience all that travel has to offer​, Expedia Group will focus a portion of its giving to provide grants to impact-driven organizations working to remove barriers to travel for underserved communities around the world. ​ Economic advancement for communities underrepresented in travel Expedia Group is strengthening economic opportunity across the travel ecosystem to ensure more people and communities can benefit from the industry’s growth and associated benefits. Using the power of its technology platform to help diversify the business of travel, Expedia Group will support small and local businesses, particularly those focused on improving the representation and experience of underrepresented travelers. What’s Next? To help diversify the business of travel and meet traveler demand for more responsible options, Expedia Group will soon launch a program aimed at start-ups and small and medium-sized businesses in travel. Prosperous planet for generations to come Expedia Group recognizes the environmental toll that today’s travel industry often has on the planet and is committed to mobilizing its vast network of travelers, partners, and peers to innovate more sustainable business models and empower travelers to make more responsible choices. Fostering a healthy planet and a travel industry that mitigates and adapts to climate change is central to the Open World social impact and sustainability strategy. Expedia Group recently joined the Travalyst Coalition and signed the Glasgow Declaration for Climate Action in Tourism. Under the Glasgow Declaration, Expedia Group has committed to deliver plans that will support the global goals of cutting emissions in half over the next decade and allowing the travel industry to reach Net Zero emissions as soon as possible before 2050. The Travalyst Coalition enables these goals by allowing travel companies like Expedia Group to deliver unified sustainability frameworks and methodologies to travelers across the globe. What’s Next? Expedia Group is currently developing a long-term climate action plan and associated roadmap for greening its own operations while driving industry-wide change. A new program being developed in partnership with The Travel Foundation will offer training and practical guidance to destination marketing organizations (DMOs), enabling them to lead the way on climate action in tourism and catalyze meaningful change at a local level. These three priorities build upon Expedia Group’s foundation and ongoing commitment to philanthropy. Throughout the COVID-19 pandemic Expedia Group led programs including the Give the World a Shot initiative – a joint endeavor with UNICEF to enhance COVID-19 vaccination rates in communities around the world – as global, equitable access to the vaccine is in line with traveler values and essential to reopening the world to travel. Expedia Group donated approximately $10.5 million – vaccinating three million people and moving the travel industry one step closer to recovery. Learn more about Expedia Group’s past impact work in its 2021 Global Impact Report and latest Inclusion and Diversity Report. For additional information, visit www.expediagroup.com/who-we-are/Impact--Sustainability. The research for the Inclusive Travel Insights Report was conducted in collaboration with Wakefield Research, which included an online survey of 11,000 representatives, general population adults ages 18+ in 11 global markets – Australia, Brazil, Canada, China, France, Germany, India, Japan, Mexico, the UK and U.S. – fielded between February 11 and March 6, 2022. About Expedia Group Expedia Group, Inc. companies power travel for everyone, everywhere through our global platform. Driven by the core belief that travel is a force for good, we help people experience the world in new ways and build lasting connections. We provide industry-leading technology solutions to fuel partner growth and success, while facilitating memorable experiences for travelers. Our organization is made up of three pillars: Expedia Product & Technology, focused on the group’s product and technical strategy and offerings; Expedia Brands, housing all our consumer brands; and Expedia for Business, consisting of business-to-business solutions and relationships throughout the travel ecosystem. The Expedia Group family of brands includes: Expedia®, Hotels.com®, Expedia® Partner Solutions, Vrbo®, trivago®, Orbitz®, Travelocity®, Hotwire®, Wotif®, ebookers®, CheapTickets®, Expedia Group™ Media Solutions, CarRentals.com™, and Expedia Cruises™.

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TRAVEL TECHNOLOGY, DESTINATION AND TOURISM

TreviPay Launches TreviPay Aviation Network with Global Payment Card Solution

TreviPay | October 19, 2022

TreviPay, the global B2B payments and invoicing network, announced its launch of the TreviPay Aviation Network, powered by KHI, to offer a co-branded, closed-loop card solution tailored to the needs of FBOs (fixed-base operators) and flight support service organizations who service the general and defense aviation industries, and their customers. KHI, an affiliate of TreviPay, is a trusted payments expert in the government, commercial aviation, and marine fuel bunkering markets. By layering TreviPay’s payments technology onto KHI’s merchant network, the companies will provide clients the ability to issue customers a co-branded card that is accepted across the world’s most comprehensive network of aviation suppliers. The TreviPay Aviation Network offers simplified, consolidated billing of all aviation expenses such as fuel and ground services. The highly competitive aviation industry, which runs on an inter-dependent network of vendors and merchants, includes aviation customers who are looking for support in securing fuel and services while providing the best value to retain its customers and business partners. The TreviPay Aviation Network is the result of TreviPay combining its rich experience in payments and invoicing technology with KHI’s comprehensive global network of 7,000 ICAO locations and more than 22,000 terminals in 220 countries and territories transacting in 56 currencies. “The TreviPay Aviation Network will leverage TreviPay’s proprietary technology and KHI’s network to allow FBOs and trip support services organizations to offer outstanding payments and invoicing convenience to their customers, even as those customers travel beyond the FBOs’ locations, The TreviPay Aviation Network will help FBOs to grow, drive loyalty and increase their customers’ purchasing power around the world.” -Brandon Spear, CEO of TreviPay. The TreviPay Aviation Network, powered by KHI, will drive efficiencies and commerce for FBOs and aviation customers alike: FBO Benefits Ability to issue a co-branded card solution provided by a trusted, agnostic provider Drive competitive advantage: A branded card will deliver billing and pricing alliances to clients, and will also allow FBOs to track customer purchasing activity and issue loyalty rewards Easy invoicing and service specialized for aviation: The TreviPay Aviation Network will eliminate the need for FBOs to chase paper receipts to invoice their customers. The entire invoicing process is digitized and streamlined. TreviPay manages the processing, invoicing, AR, support, disputes, collections, and reconciliation, thereby freeing up FBOs’ time and capital to run their business. And the network is built specifically for the aviation industry; invoices are customized with every detail – even the tail number of the plane Save money versus open-loop options: The TreviPay Aviation Network’s closed-loop card will save FBOs considerably on fees versus offering an open-loop card Cardholder Benefits A single card that can be used everywhere: Cardholders will be able to use a global aviation payment card that is accepted by all vendors at an FBO within the KHI network. FBO customers will no longer struggle to pay multiple service providers for one landing Tail-specific reporting and prompt receipts: Customers will receive timely billing with a single, consolidated invoice per stop, which includes transactional data to Level III, with tail number streamlined reconciliation. No more waiting for delivery of receipts from multiple lifts and delaying trips Controls to eliminate friction: Negotiated prices will be locked in, so there will be no billing confusion, and purchasing controls between cardholders and suppliers will reduce invoice disputes “As an affiliate of TreviPay, we are proud to combine expertise to offer a global payment and invoicing solution for the aviation industry,This global aviation network enables a simpler, more widely accepted payments solution for aviation customers to successfully complete aviation fuel and service procurement.” -Virginia Zimmerman, President of KHI The TreviPay Aviation Network follows the earlier launch of TreviPay’s specialized networks for the needs of businesses of all sizes: the Private Network for large enterprises, the TreviPay Network for midmarket businesses and the Small Business Supplier Network for small businesses. To learn more about the TreviPay Aviation Network, powered by KHI, attendees can visit the First Time Exhibitor Pavilion at Booth 4513f during the 2022 NBAA Business Aviation Convention & Exhibition (NBAA-BACE) from October 18-20, 2022. About TreviPay TreviPay is the global B2B payments and invoicing network built to optimize trade between buyers and sellers. With more than four decades of experience building networks, TreviPay is the preferred B2B payment method of corporate buyers and sellers globally, processing $6 billion in transaction volume across 32 countries, 19 currencies and 90,000 active buyers. TreviPay gives clients the power to offer trade credit, and is trusted by major brands – with 80,000 selling locations – to deliver invoices with net terms and guaranteed payment across all sales and distribution channels. TreviPay has created the only fully managed payment and invoicing network to support B2B commerce of the future. For more information, visit trevipay.com.

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INDUSTRY OUTLOOK, HOSPITALITY TRENDS

Seven Marcus Hotels & Resorts Properties Recognized with the Prestigious Condé Nast Traveler Readers’ Choice Awards

Marcus® Hotels & Resorts | October 10, 2022

Marcus® Hotels & Resorts, a nationally recognized hotel owner and management company and division of The Marcus Corporation (NYSE: MCS), announced today that seven of its owned and/or managed properties have been recognized as top hotels and resorts by the 2022 Condé Nast Traveler’s annual Readers’ Choice Awards. “We are thrilled that the judicious readers of Condé Nast Traveler recognized seven of our properties as being among the very best of the best, This year’s list includes the largest number of Marcus Hotels & Resorts properties in our history. This is testament to the commitment across our portfolio to the highest standards of excellence. As travel preferences evolve and change, Marcus Hotels & Resorts continuously provides our guests with enriching and authentic amenities, experiences and hospitality. We thank the readers of Condé Nast Traveler for their continued support as they explore and enjoy our properties across the country, and offer our huge congratulations to our outstanding associates who everyday work to make even ordinary days for our guests extraordinary.” -Michael Evans, president of Marcus Hotels & Resorts. The Marcus Hotels & Resorts properties that were recognized by Condé Nast Traveler readers as top hotels and resorts in their respective categories are: Grand Geneva Resort & Spa in Lake Geneva, Wisconsin was recognized as the #2 Top Resort in the Mid-Atlantic and Midwest. This all-seasons premier resort is the ideal Midwest vacation destination. Situated on 1,300 acres in the beautiful woodlands of Lake Geneva, the resort features two championship golf courses, Mountain Top downhill ski hill, full-service WELL Spa & Salon and a wide array of fine dining options. This is the sixth consecutive year this property has been named a Top Resort by Condé Nast Traveler readers. Saint Kate – The Arts Hotel in Milwaukee, one of the country’s most immersive and inviting arts hotel experiences, was honored as the #10 Top Hotel in the Midwest and #1 hotel in Milwaukee. This is the third consecutive year that the property, which opened in 2019, has been named a Top Hotel in the Midwest by Condé Nast Traveler readers. The hotel broadly celebrates the arts in its many forms with multiple gallery and exhibition spaces, nightly live music and programmed events, and unique culinary experiences awaiting guests inside. Milwaukee’s distinguished luxury hotel, The Pfister Hotel was recognized as the #15 Top Hotel in the Midwest. This is the sixth consecutive year the 127-year-old, iconic property has been named a Top Hotel in the Midwest by Condé Nast Traveler readers. For the third time since being redeveloped in 2015, Kimpton Hotel Monaco Pittsburgh was recognized as the #2 Top Hotel in the Mid-Atlantic. Located in the nearly 120-year-old historic James H. Reed building, the property is situated in the center of downtown Pittsburgh near the Cultural District’s many art galleries, restaurants, and retail shops. The Garland, in North Hollywood, California, was recognized as the #15 Top Hotel in Los Angeles. Built in 1970 by Hollywood actress Beverly Garland and her husband, real estate developer Fillmore Crank, this sophisticated boutique hotel allows guests to relax and unwind in a secluded urban paradise that is only minutes from the excitement and thrills of LA. This is the seventh year the hotel has been named a Top Hotel in LA by Condé Nast Traveler readers since its rebirth in 2015. Skirvin Hilton was named the #6 Top Hotel in the Midwest, marking the second consecutive year it has been recognized by Condé Nast Traveler readers. This contemporary-classic hotel has a rich history in Oklahoma City stretching back to 1911. At the epicenter of Oklahoma City’s vibrant culture, guests can experience many of the city’s biggest attractions. A Lincoln, Nebraska landmark, Lincoln Marriott Cornhusker was honored as the #7 Top Hotel in the Midwest. This is the second year the property was recognized by Condé Nast Traveler readers. Just minutes away from the historic Haymarket District, this beautiful hotel has been serving Nebraska's capital city for nearly 90 years and offers guests unique, popular and fun experiences. The Condé Nast Traveler Readers’ Choice Awards are the longest-running and most prestigious recognition of excellence in the travel industry and are commonly known as “the best of the best of travel.” The 2022 Readers’ Choice Awards are published on Condé Nast Traveler’s website and celebrated in the November issue. About Marcus Hotels & Resorts Marcus Hotels & Resorts owns and/or manages 17 hotels, resorts and other properties in the U.S. The company’s distinctive portfolio includes city-center meeting hotels, upscale resorts, historic properties, and premium branded and independent first-class hotels. Marcus Hotels & Resorts is an approved operator for all major lodging brands. A leader in the hospitality industry since 1962, Marcus Hotels & Resorts creates asset value for hotel owners through its expertise in management, development and product repositioning. This includes premier food and beverage brands such as Mason Street Grill, ChopHouse, Miller Time® Pub & Grill and SafeHouse® Restaurants. For more information, please visit: http://media.marcushotels.com and follow the company on Facebook and Twitter (@MarcusHotels). About The Marcus Corporation Headquartered in Milwaukee, The Marcus Corporation is a leader in the lodging and entertainment industries, with significant company-owned real estate assets. In addition to its lodging division, its theatre division, Marcus Theatres®, is the fourth largest theatre circuit in the U.S. and currently owns or operates 1,064 screens at 85 locations in 17 states under the Marcus Theatres, Movie Tavern® by Marcus and BistroPlex® brands. For more information, please visit the company’s website at www.marcuscorp.com.

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