BUSINESS TRAVEL
businesswire | May 19, 2023
Selina Hospitality PLC the fast-growing experiential hospitality brand targeting millennial and Gen Z travelers, announces the launch of registration for the TechnoArt@Selina Global Innovation Summer Cohort. This program, in collaboration with and managed by TechnoArt, a renowned global innovation platform for startups, offers a unique opportunity for burgeoning companies.
This innovative three-week program aims to assist startups in scaling their company using Selina’s extensive network across 24 countries. Taking place at Selina locations worldwide, selected companies will gain the unique opportunity to live and work from our hotels. They'll collaborate with companies, mentors, advisors, and investors from around the globe and benefit from TechnoArt's partner network for business development, legal and financial consulting, hosting, web services, marketing, branding, and more from top tier companies such as Next.Law by Shulman Rogers, AWS, Pérez Correa González, Brandsight and more.
"At Selina, we strive to foster a vibrant, community-focused setting that unites travel, work, and networking," said Sam Khazary, Executive Vice President and Global Head of Corporate Development at Selina. "Our Corporate Development team is instrumental in this mission, acting as the catalyst that brings entrepreneurial spirit to life within our spaces. This partnership with TechnoArt underscores our commitment to support startups and innovation. It's not just about providing a space to work and live, but also about cultivating a nurturing ecosystem for learning, growth, and business development. This initiative allows us to give back to the communities we operate in, whilst simultaneously fostering the inspiration and education needed for the next generation of global entrepreneurs."
Tristan Jehan, Innovation Partner at TechnoArt, said, "In an increasingly interconnected world, we're seeing a new breed of entrepreneurs who are seeking to broaden their horizons, connect more deeply with their clients and partners online, and tap into untapped markets. This evolution, coupled with the burgeoning digital nomad community, heralds a refreshing approach to growth for tech companies. As advocates for this new wave of innovation, we at TechnoArt are thrilled to work alongside Selina's team to offer this unique program. This initiative is designed not only to bolster the community but also to facilitate innovation, no matter where it originates. By integrating work, life, and travel, we aim to create an environment that stimulates growth, fosters collaboration, and empowers entrepreneurs to thrive on a global scale."
The Selina Corporate Development team, in collaboration with TechnoArt, is committed to providing robust support to entrepreneurs and service providers keen on joining the program, either virtually or in-person. We're extending our reach across the globe through TechnoArt.LIVE Local events, hosting in dynamic cities such as Bogota, Colombia; Mexico City, Mexico; Panama City, Panama; London, UK; Lisbon, Portugal; and key US locations including Miami, Washington DC, Chicago, and New York. These gatherings serve as vital nodes in our expanding network, fostering collaboration, knowledge-sharing, and innovation. To learn more about these events and how you can be a part of this transformative journey, visit TechnoArt.LIVE.
About Selina Hospitality PLC.
Selina is one of the world's largest hospitality brands built to address the needs of millennial and Gen Z travelers, blending beautifully designed accommodation with coworking, recreation, wellness, and local experiences. Founded in 2014 and custom-built for today's nomadic traveler, Selina provides guests with a global infrastructure to seamlessly travel and work abroad. Each Selina property is designed in partnership with local artists, creators, and tastemakers, breathing new life into existing buildings in interesting locations in 24 countries on six continents – from urban cities to remote beaches and jungles. To learn more, visit Selina.com or follow Selina on Twitter, Instagram, Facebook, Linkedin or YouTube.
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HOSPITALITY TRENDS
prnewswire | May 17, 2023
Funds advised by Apax Partners LLP ("Apax") announced today that they have reached a definitive agreement to invest approximately $450m to acquire a significant minority stake in IBS Software, a leading provider of modern Software-as-a-Service (SaaS) solutions to the global travel and logistics industry, from Blackstone. Following the transaction, Apax will partner closely with IBS Software's Founder and Executive Chairman, V K Mathews, who will remain the majority shareholder.
Founded in 1997 with a vision of redefining the future of travel through technology innovation, IBS Software provides next-generation SaaS solutions that power the most mission-critical operations at the world's leading aviation, tour and cruise, hospitality and logistics companies. With a comprehensive portfolio of modular, cloud-based solutions purpose-built for the travel industry, IBS Software helps travel companies accelerate innovation and drive efficiency across a broad set of core business processes, including cargo and logistics, flight operations, passenger services, loyalty programs, cruise operations, energy & resource logistics and hospitality distribution platforms. Backed by a team of 4000 professionals across the world with more than 25 years of deep domain expertise, IBS Software's scalable, cloud-native platform and demonstrated market leadership, position it to define the future of mission-critical technology for the travel industry.
V K Mathews, Founder and Executive Chairman of IBS Software said: "We're excited to partner with Apax as we enter a new phase in our mission to transform how travel companies operate in a digital world. This investment is an endorsement of our strategy and our commitment and contribution to the industry, and we have a shared vision with Apax for the future of the business. We thank our customers and employees who have been instrumental in our success so far. We're grateful to the Blackstone team for their invaluable support over the years and we look forward to an exciting and fulfilling journey ahead with Apax."
Anand Krishnan, CEO, IBS Software, added: "As the travel industry rapidly embraces digitalisation, we have a vital role to play in helping our customers accelerate revenues, drive efficiency and create differentiated customer experiences. Apax has deep experience in partnering with leading SaaS providers and will be a strategic partner for IBS Software as we embark on a new phase of growth. We thank Blackstone for helping us create real value and a true partnership."
Jason Wright, Partner, Apax, commented: "We are thrilled to partner with VK and the management team at IBS Software. Having closely monitored the travel software sector over the last several years, IBS Software stood out to us as uniquely positioned in the industry, offering a next-gen software suite that we believe is truly unrivalled. Over the last two decades, IBS Software has invested in products, innovation, and culture, while continuing to scale the business. We believe there is tremendous growth potential ahead and look forward to leveraging our software experience to help IBS Software become a world leader in travel and logistics software."
Amit Dixit, Head of Asia Private Equity, Blackstone, said: "We are happy to have played an important role in IBS Software's transformation to a SaaS company with global leadership in Travel and Logistics. IBS is already one of the largest enterprise SaaS companies out of India. We thank VK for his strategic vision and for being a terrific partner, and Anand and the management team for their impeccable execution. Value creation at IBS Software demonstrates our business-building approach to investing and reinforces our conviction in Technology as a sectoral theme."
The transaction is subject to customary closing conditions and is expected to close end of Q2 2023. Financial terms were not disclosed.
J.P. Morgan is acting as financial advisor to IBS Software and Blackstone, Drew & Napier LLC is acting as legal counsel to IBS Software and Simpson Thacher & Bartlett LLP is acting as legal counsel to Blackstone.
Kirkland & Ellis LLP is acting as legal counsel and Jefferies LLC is acting as financial advisor to Apax.
About IBS Software
IBS Software is a leader in providing SaaS solutions for the travel industry based in Singapore. It manages mission-critical operations for clients in the aviation, tour & cruise, and hospitality industries. The aviation industry solutions provided by the company include fleet & crew operations, passenger services, staff travel, loyalty programs, aircraft maintenance, and air cargo management. It also operates a B2B and B2C distribution platform that provides hotel room inventory, rates, and availability to a network of hospitality companies and channels. Additionally, it offers a comprehensive, customer-centric digital platform for the tour and cruise industry that includes onshore, online, and on-board solutions. IBS Software is a Blackstone portfolio company with 15 offices worldwide.
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INDUSTRY OUTLOOK
Brand USA | May 23, 2023
Brand USA, the nation’s destination marketing organization, opened IPW 2023 with an immersive press conference showcasing the USA as an unrivalled travel destination, as well as the reveal of the organization’s latest consumer marketing campaign, provided international travel forecast, and consumer sentiment insights. IPW is the leading trade show for inbound travel to the United States, bringing more than 5,000 industry professionals from more than 60 countries to San Antonio, Texas for the first time. Brand USA is the premier sponsor of the annual event produced by the U.S. Travel Association and taking place for the first time in San Antonio, Texas.
The press conference featured iconic and lesser-known destinations and attractions, from the best places to taste local cuisine to stepping into the song lyrics or movie locations that first inspired a visit, being pampered in the lap of luxury, or experiencing the USA through the eyes of a sports enthusiast.
“There’s no other destination like the United States,” said Brand USA President and CEO, Chris Thompson to over 200 international journalists. “What sets the USA apart is the diversity of our geography, the diversity of our experiences, the diversity of our people, and our one-of-a-kind pop culture.”
Mr. Thompson described how USA pop culture is often the way people around the world first get to know the United States, asking: “How did you first come to know the United States? Were you on the road with Jack Kerouac, walking the line with Johnny Cash, or having breakfast with Audrey Hepburn at Tiffany’s? Regardless, I bet you were left with a dream, an idea, and an intangible excitement, and you knew you just had to experience it all for yourself.”
Thompson, who is bullish on inbound travel to the USA, gave examples of how pent-up demand continues to drive economic recovery in communities throughout the country as more and more people are now booking travel and living out their dreams. During the press conference Thompson highlighted how two recent barriers to travel have been alleviated: that overall airlines expect a near 100 percent return of connectivity by the end of the year, and that effective May 12, international travelers are no longer required to have a COVID-19 vaccination to enter the United States.
The worldwide travel restart has created a highly competitive global market for the lucrative international visitor. To move consumers more quickly from aspiration to action, Brand USA recently launched a marketing campaign across 10 key markets. The campaign showcases how the USA delivers on the consumer promise that whoever you want to be and whatever experience you long for, the United States is where you can find it. Thompson shared two of the latest campaign assets which speak to travelers seeking adventure or family fun.
About Brand USA
Brand USA, the destination marketing organization for the United States, was established by the Travel Promotion Act as the nation’s first public-private partnership to promote the United States as a premier travel destination and to communicate U.S. travel policies and procedures to worldwide travelers. The organization’s mission is to increase international visitation to the United States in order to fuel the U.S. economy and enhance the image of the United States worldwide. Formed as the Corporation for Travel Promotion in 2010, the public-private entity began operations in May 2011 and does business as Brand USA. According to studies by Oxford Economics, over the past 10 years Brand USA's marketing initiatives have helped welcome 8 million incremental visitors to the United States, benefiting the U.S. economy with more than $58 billion in total economic impact and supporting, on average, more than 37,000 incremental jobs a year.
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