Travel Leaders Group Partners with Royal Caribbean International on Special Offer to Spur Bahamas Cruise Travel

PR Newswire | September 26, 2019

Travel Leaders Group and Royal Caribbean International have partnered to support travel to The Bahamas through an exclusive offer that provides consumers with up to $100 in onboard spending money on Royal Caribbean voyages that visit Nassau and/or Perfect Day at Coco-Cay in The Bahamas. The offer is combinable with most Royal Caribbean promotions and can only be booked through a travel advisor affiliated with Travel Leaders Network, Nexion Travel Group, Tzell Travel Group, Protravel International and ALTOUR, all units of Travel Leaders Group, the largest retail travel agency organization in North America.  The initiative is part of a larger "Travel Helps The Bahamas" campaign being conducted by Travel Leaders Group that includes fundraising for humanitarian aid and a broad effort to encourage travel to The Bahamas

Spotlight

Get to know the capital of South Korea like the back of your hand… before you get there! Welcome to MojoTravels, and today we’re presenting our Traveler's Guide to Exploring Seoul. 
For this list, we’ll be highlighting some of the most interesting, vibrant and exciting areas, neighborhoods, streets and villages to help you get the most out of your time in Seoul.

Spotlight

Get to know the capital of South Korea like the back of your hand… before you get there! Welcome to MojoTravels, and today we’re presenting our Traveler's Guide to Exploring Seoul. 
For this list, we’ll be highlighting some of the most interesting, vibrant and exciting areas, neighborhoods, streets and villages to help you get the most out of your time in Seoul.

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DESTINATION AND TOURISM,INDUSTRY OUTLOOK

Turo and KAYAK Launch Winter Travel Hub to Help Travelers Book Their Dream Car This Holiday Season

Turo and KAYAK | December 12, 2022

KAYAK, the world’s leading travel search engine, and Turo, the world’s largest peer-to-peer car sharing marketplace, launched a winter travel hub to bring travelers a personalized car booking solution ahead of the upcoming holiday travel season. Travelers can now browse Turo’s extensive selection of over 1,400 makes and models through an interactive travel quiz and a co-branded social series that helps them determine the perfect vehicle for their holiday getaway.The hub draws inspiration from Turo’s new “Open the door to extraordinary” campaign, featuring visuals that depict the car door as a portal to a different world where you can be your best and boldest self. To help familiarize Kayak users with the convenience and wide range of vehicles available on Turo, the winter travel hub offers an interactive quiz matching travelers with the perfect car and a co-branded social series providing tips and tricks from leading travel social influencers. The new winter travel hub with KAYAK provides guests with an even easier way to browse our incredible selection of thousands of makes and models across 9,500 cities, says Albert Mangahas, Chief Data Officer and Head of Data Insights at Turo. Showcasing our hosts’ listings on KAYAK will drive even more demand to local hosts who are building their car sharing business on our marketplace. Interest in peer to peer car sharing on KAYAK doubled this fall (August-November) compared to what the travel metasearch saw in 2022’s spring and summer (April-July) months. "Peer-to-peer car sharing is an exciting innovation in the mobility space,KAYAK's hub gives travelers a more in-depth look at how car sharing works so they can give it a try.” -Paul Jacobs, General Manager and Vice President of KAYAK North America The winter travel hub launches today, December 9th. The winter hub can be found at https://www.kayak.com/c/turo-hub/, and the Turo ‘Meet Your Match’ quiz can be found at https://www.kayak.com/c/turo-hub/meet-your-match-quiz/. About Turo Turo is the world’s largest car sharing marketplace where guests can book any car they want, wherever they want it, from a vibrant community of trusted hosts. Whether they’re flying in from afar or looking for a car down the street, searching for a rugged truck or something smooth and swanky for a once-in-a-lifetime event, guests can take the wheel of the perfect car for any occasion, while hosts can take the wheel of their futures by sharing their underutilized personal vehicles or building an accessible, flexible, and scalable car sharing business from the ground up. Turo is home to a supportive and collaborative community that shares thousands of vehicles across the United States, Canada, the United Kingdom, Australia, and France. To learn more about Turo, please visit www.turo.com. About KAYAK KAYAK, part of Booking Holdings (NASDAQ: BKNG), is the world's leading travel search engine. With billions of queries across our platforms, we help people find their perfect flight, stay, rental car and vacation packages. We also support business travelers with KAYAK for Business, our free corporate travel solution, and are transforming the in-travel experience with our app and new hotel and accommodation software. For more information, visit www.KAYAK.com

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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

Simpler Payments. On the Go. Regions Bank Launches Business Travel Solution for Corporate Banking Clients

Regions Bank | December 06, 2022

Regions Bank on Monday announced the launch of a virtual commercial card solution to facilitate quick, easy and on-the-go business travel payments for the bank’s Treasury Management clients.Visa Commercial Pay, offered in collaboration with Visa, the world’s leader in digital payments, and Regions Commercial Card Services, is the latest in a series of enhancements Regions offers its business clients to better manage cash flow and streamline operations. Specifically, this solution enables businesses using a travel management vendor to centrally manage reservations such as air travel, hotel, rail and car rental. It creates a seamless integration option for the reservation process and can deliver enhanced data on employee travel, full spend visibility for all company travel, and automated expense reconciliation through unique virtual card numbers. Additionally, the solution allows business travelers to view all reservations in one place, along with real-time updates on trip expenses, all within the Visa Commercial Pay app. Speed, convenience and ease-of-use are more important than ever, and Regions Bank takes a forward-looking approach toward connecting business clients with services that make managing money simpler and more intuitive, David LaPaglia, commercial card product and operations manager for Regions Bank. “The more we can make payments, cash flow and operations easier for our Treasury Management clients, the more time they can spend focusing on the core of their business and helping their companies succeed. Business travel is one area that can be particularly time consuming in terms of managing expenses and tracking charges. The Visa Commercial Pay Travel solution aims to fix that. Recently, Regions launched another digital solution enabling Corporate Banking clients to send real-time payments through the RTP® network from The Clearing House. The new real-time payments service is part of Regions’ iTreasury platform, which offers a wide range of competitive financial management options for businesses through the bank’s Treasury Management division. Further enhancements are planned, including an expansion of Visa Commercial Pay options beyond business travel support. In addition, Regions plans to launch Regions CashFlowIQSM in 2023. This new tool is being designed to improve cash flow for clients by providing seamless accounts payable, accounts receivable, invoicing, and business bill payment capabilities for small- and mid-sized businesses. “Regions consistently looks for ways to meet the emerging needs of business clients and provide options that help them simplify operations and focus more on revenue-producing activities, We are committed to being an important resource, and our team is proud to now offer Visa Commercial Pay Travel while creating more enhancements to launch soon.” -Bryan Ford, head of Treasury Management for Regions Bank. About Regions Financial Corporation Regions Financial Corporation (NYSE:RF), with $158 billion in assets, is a member of the S&P 500 Index and is one of the nation’s largest full-service providers of consumer and commercial banking, wealth management, and mortgage products and services. Regions serves customers across the South, Midwest and Texas, and through its subsidiary, Regions Bank, operates approximately 1,300 banking offices and more than 2,000 ATMs. Regions Bank is an Equal Housing Lender and Member FDIC. Additional information about Regions and its full line of products and services can be found at www.regions.com.

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