World Travel & Tourism Council throws positive spotlight on UK hospitality

Breaking Travel News | July 26, 2019

Research conducted by World Travel & Tourism Council has revealed tourism is the fastest growing sector in the UK.According to the organisation, the market accounts for 11.9 per cent of all jobs, ahead of financial services (8.9 per cent) and banking (3.4 per cent), and generates £232 billion annually.The launch of the research falls on the fiftieth anniversary of the Development in Tourism Act, which was introduced in July 1969, and saw the establishment of the British Tourist Authority and tourist boards for England, Scotland and Wales.The aim was to give responsibility to the BTA for promoting the development of tourism to and within Great Britain, and to oversee the improvement of tourist amenities and facilities in order to attract both domestic and foreign visitors.

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As we learnt to embrace digital transformation, we were challenged to also ensure that our workforce was equipped with the necessary skills to keep up with digitalization. Organizations across the globe had to become more agile and pivot quickly, all while keeping environmental sustainability and a positive societal impact at the core. Two years on, our ambition is greater than ever. The road towards a digital future requires a digital ecosystem to create an even better future.

Spotlight

As we learnt to embrace digital transformation, we were challenged to also ensure that our workforce was equipped with the necessary skills to keep up with digitalization. Organizations across the globe had to become more agile and pivot quickly, all while keeping environmental sustainability and a positive societal impact at the core. Two years on, our ambition is greater than ever. The road towards a digital future requires a digital ecosystem to create an even better future.

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DESTINATION AND TOURISM, INDUSTRY OUTLOOK

Collette Travel and Travelex Partner to Offer Travel Insurance

Travelex Insurance Services | January 17, 2023

Travelex Insurance Services, one of the leading U.S. travel insurance companies, and Collette Travel Service, Inc., an award-winning premium tour operator, have announced a partnership that will allow Collette to offer Travelex travel insurance products and services starting January 3, 2023. Jaclyn Leibl-Cote, President and Chief Brand Officer at Collette, expressed, "We're excited for this opportunity to provide our travelers with some of the industry's best insurance plans and services." She further stated, "Travelex's quality insurance products, superb customer service record and claims payment history convinced us to partner with them. We think our clients will be very happy with Travelex's offerings." (Source- PR Newswire) Travelex President and CEO Shannon Lofdahl shared that her company has collaborated with Collette for months to develop and roll out comprehensive travel protection policies for its clients. She remarked, "Our teams worked together to complete implementation and agent training for the launch. "We're ready to serve Collette's travelers as they explore the world,” Shannon Lofdahl concluded. (Source- PR Newswire) About Travelex For over 25 years,Travelex Insurance Services has been the go-to for reliable and affordable travel protection in the United States. It is a well-known collaborator in the tourism sector, offering services that enable vacationers to make and safeguard memories. Customer service, technology, and innovation are just some of the categories in which Travelex has been recognized as a market leader. About Collette Collette, the oldest tour operator in North America, is trusted by visitors. It is distinguished by its customizable tour pacing, ties to the travel industry, and full travel protection coverage. The organization has focused on customer satisfaction since 1918 and offers 160 journeys to all seven continents via five types of travel, including small group tours and river cruises. The company's headquarters are located in Pawtucket, Rhode Island, with divisions in the United Kingdom, Canada, and Australia.

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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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DESTINATION AND TOURISM, COMMERCIAL TRAVEL

KAYAK and Affirm Team up to Help Travelers Book Now and Pay Later

KAYAK | January 27, 2023

KAYAK, the leading search engine for travel, recently announced that it has partnered with Affirm, a payment network, to make its payment operations flexible and to empower its travelers in the United States. According to KAYAK search data, flight prices are rising by about 40% per year. Despite increased flight prices, travelers are still searching for flight bookings in 2023. With Affirm, KAYAK is making it easier for travelers to plan and pay for their trips this year. Now, approved KAYAK travelers can split the cost of flights, hotels, car rentals, and car sharing over $150 into monthly payments by choosing Affirm when they check out. Thus, KAYAK can reach 15 million of Affirm's consumers and 245,000 merchants, including American Airlines, Priceline, Vrbo, Vacasa, and more thereby, enhancing its new reach, overall sales, repurchase rates, and average order value. Paul Jacobs, General Manager and Vice President of KAYAK North America, says, "It's good to have choices, especially in this economy. In addition to showing travelers all their options on KAYAK, Affirm gives travelers the ability to plan how they pay." (Source – Business Wire) Geoffrey Kott, Chief Revenue Officer at Affirm, remarks, "This past fall, Affirm's consumers increased purchases at airlines over seven times compared to the prior year, demonstrating higher consumer demand for payment flexibility when booking travel." He adds, "By partnering with KAYAK, we are able to bring consumers a flexible and transparent way to pay for travel, especially at a time when many are looking for ways to regain financial control and spending power amidst rising costs." (Source – Business Wire) About KAYAK: KAYAK is part of Booking Holdings Inc, one of the world's most prominent search engines for travel. It helps people find the vacation package, hotel, rental or shared car, and flights they want. The company enables travelers to search for the best flight deals and book with flexibility, as it's pretty reliable and completely free to use. With trip planning tools like a flight tracker, trip planner, and bag measure, KAYAK ensures that travelers' overall experience is more than just a flight search site!

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