HOSPITALITY TRENDS

Travel companies, big and small, find opportunity in crisis

Travel Weekly | November 23, 2020

When the Covid-19 pandemic started sending seismic stuns through the worldwide travel industry, the hospitality organization Sonder looked for first to take up some slack. However, the San Francisco-based organization likewise observed chances.

Sonder offers a blend of lodgings and private rentals and supports its customers with touchless hospitality - a mix that left it preferable situated over most during the emergency. As movement went to a close to stop, Sonder directed its concentration toward the lengthy visit market, where fundamental specialists and a couple of outstanding experience explorers introduced in any event a little prepared market.

The technique has paid off, Sonder VP of income Shruti Challa clarified during the Phocuswright Conference Thursday.

Spotlight

TripActions Enterprise Edition marks the start of a new era of modern enterprise T&E management. TripActions Enterprise Edition gives enterprise leaders a comprehensive, unified T&E solution combining the best online booking experience, robust global inventory, expert 24/7 365 TMC travel agents, and modern payments and expense t

Spotlight

TripActions Enterprise Edition marks the start of a new era of modern enterprise T&E management. TripActions Enterprise Edition gives enterprise leaders a comprehensive, unified T&E solution combining the best online booking experience, robust global inventory, expert 24/7 365 TMC travel agents, and modern payments and expense t

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INDUSTRY OUTLOOK

Hyatt Shares Updates on Operations, Summer Booking Trends and More

Hyatt Hotels Corporation | June 07, 2022

Hyatt Hotels Corporation shared updates on its operating results for May, summer travel booking trends, and confirmation of the closing of previously announced asset disposition as the NYU International Hospitality Investment Conference commenced. “We are delighted that we closed on the last of four previously announced owned hotel dispositions. In total, these four dispositions generated $812 million in gross proceeds and demonstrate meaningful and expeditious progress towards our current $2 billion asset disposition commitment, Additionally, our operational metrics in May serve as further evidence of continued recovery with comparable system-wide RevPAR improving from April, and system-wide RevPAR outside of Asia Pacific actualizing 3% above 2019 levels for the second consecutive month. As we look forward, we anticipate a busy summer travel season ahead.” -Mark S. Hoplamazian, President and Chief Executive Officer of Hyatt Hotels Corporation In the update, Hyatt announced that the comparable system-wide RevPAR in May was approximately $127, the strongest RevPAR performance in any individual month since November of 2019. The leisure transient revenue was up 18% in May, thanks to Memorial Day weekend, where RevPAR in the Americas was approximately 24% above Memorial Day weekend of 2019. Business transient and group revenue also continued to strengthen in May. The summer travel season ahead looks favorable in terms of booking trends. Gross group room revenue booked in May for stay dates in 2022 for comparable Americas was 46% above May of 2019. The all-inclusive portfolio had strong results. As for the asset dispositions, the company has closed on all four previously announced assets resulting in gross proceeds of $812 million or over 40% of its current $2.0 billion disposition target, reflecting an aggregate multiple of 15.7x 2019 EBITDA, and entered into a long-term management agreement for each of the properties upon sale. Additionally, the company is marketing two of its hotels for sale.

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COMMERCIAL TRAVEL

Priceline Introduces Summer Sale and Expanded Loyalty Program

Priceline | June 20, 2022

Priceline is launching its Summer Sale on June 20 to help travelers save on summer vacations. It shared the most affordable destination for the 4th of July holiday. In addition, it has also expanded its VIP Loyalty program called VIP Family. "This summer, the travel industry is experiencing a significant boom, and we want to help ensure that our customers are getting the best deals, despite current economic stressors like inflation With our everyday deals, Summer Sale and VIP program we're helping fight back against inflation to make travel more affordable and accessible." -Brett Keller, CEO of Priceline With the VIP Family program, travelers can access savings three times faster. VIP members save 50% more than non-members on hotels. They can also get access to exclusive discounts, coupons and travel perks. The program is free, and all the travelers need to do is sign up to enjoy the benefits. Each member gets a private account, and three users can pool their status by creating a VIP Family. Individual family members’ completed trip totals are tallied into one status level so that the families can attain a higher status and unlock more benefits faster. The higher the status, the more the members can save. For the Fourth of July getaway, Priceline has offered the following deals: Domestic Dallas, Texas ($133) Houston, Texas ($135) Bloomington, Minnesota ($135) Charlotte, North Carolina ($148) Kissimmee, Florida ($151) International Calgary, Canada ($127) Milan, Italy ($145) Prague, Czech Republic ($146) Istanbul, Turkey ($147) Athens, Greece ($154) As a part of the Summer Sale, Priceline has these deals: Save $20 on Express Deals® hotels when spending at least $125. Code: SUMMER2022 Dates: June 20 to June 28 Save $100 on Express Deals® hotels when spending at least $500. Code: SUMMER100 Dates: From June 29 to July 4

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INDUSTRY OUTLOOK

New Research by Roomex and GBTA Reveals Top Travel Management Challenges in 2022

Roomex | July 19, 2022

New research conducted by the Global Business Travel Association (GBTA), in partnership with Roomex, the workforce travel platform, has unveiled the state of business and project travel in 2022. Findings from the survey, completed by over 100 Travel Managers in the US and Canada between March 29 and April 15, 2022, has revealed the growth of business travel post-COVID and the methods top businesses are using to manage their staff travel. Demonstrating the resurgence of workforce travel post-COVID, the survey found that a third of businesses have some significant overnight accommodation needs, with between 25% – 100% of the workforce staying overnight at least once a week. Sixty six percent said between 1% – 24% of their workforce stay elsewhere overnight at least once a week, with only 1% saying they have no accommodation needs at this time. A third of businesses surveyed stated that their average room nights booked per month exceeded 500, with 13% booking between 200 – 500 and 18% booking 100 – 200 room nights per month. Project-based travel is particularly prominent, with 39% of businesses saying their organization engages in "a lot" of project travel. Rising costs featured prominently in the survey, with accommodation price featuring in 82% of travel managers' responses when asked: "What is most important when managing corporate travel?" Seventy nine percent of respondents called out visibility and reporting as an important feature, while 57% noted the importance of duty of care/safety. Just 32% highlighted the price of airline tickets. Compliance enforcement topped the poll in booking challenges, with 60% of travel managers admitting that getting their staff to stick to travel policy is a challenge their organization currently faces. Fifty one percent noted that traveler satisfaction is also a challenge, pointing to the importance of maintaining strong employee relations in the new post-COVID workplace. Keeping track of all company travelers (38%), keeping track of travel spend/budget (30%) and unsuitable accommodation types (17%) also ranked among the challenges travel managers face in 2022. "It is clear from the research that while workforce travel has returned for most businesses, the challenges facing travel managers and finance teams have changed. Rising costs and a renewed focus on traveler satisfaction mean that travel managers need a flexible, efficient and innovative solution to keep up with their organization's travel requirements. Roomex solves this problem and enables every travel manager to take that extra coffee break, safe in the knowledge that they've got the best rate and their travelers will be happy." -Garry Moroney, CEO of Roomex Christopher Ely, Research Director at GBTA, said: "In our ongoing GBTA research, we've seen a continued evolution in the challenges that travel managers are now facing. This data around project-based travel and high room night volumes provides insights on what travel managers are thinking about now for their employees and companies, and how they are navigating new considerations as a result of the pandemic and other factors." Listen to Darin Peterson, Sales Manager at Roomex, and Christopher Ely, GBTA Research Director, further discuss the research findings on GBTA's "The Business of Travel" podcast. About Roomex Roomex is the all-in-one travel and expenses platform built for businesses with a mobile workforce. Roomex helps you book, manage, pay and analyze all of your accommodation, rail and expenses in one place - saving both time and money. Founded in Dublin, Ireland with offices in Boston, London, and Munich, Roomex is on a mission to make workforce travel and spend management as seamless and cost-effective as possible. With two nominations for Accommodation Innovation and Payments Innovation at the Business Travel Awards Europe 2022, Roomex is pioneering seamless travel booking. To learn more, visit www.roomex.com. About GBTA The Global Business Travel Association (GBTA) is the world's premier business travel and meetings trade organization headquartered in the Washington, D.C. area with operations on six continents. GBTA's members manage more than $345 billion of global business travel and meetings expenditures annually. GBTA delivers world-class education, events, research, advocacy, and media to a growing global network of more than 28,000 travel professionals and 125,000 active contacts. To learn how business travel drives lasting business growth, visit www.gbta.org.

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