Market Data

Global travel industry seen 'resilient' despite slowing growth

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Shutterstock

The global travel industry is likely to expand by 4 percent in 2019 despite slowing economic growth in key areas such China and Europe.

The travel and tourism sector grew 3.9 percent to $8.8 trillion in 2018, accounting for 10.5 percent of global gross domestic product, and outpacing global GDP growth of 3.2 percent, according to the World Travel & Tourism Council.

Based on data from 185 countries, the group forecasts steady growth of 4 percent this year, given continued demand from China, the second largest travel and tourism market behind the United States, and other countries in Asia.

Business Travel

Asia: The top destinations for bleisure travel

Mar 05, 2019 / Bleisure
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Shutterstock

According to a study by Economist Intelligence Unit, Singapore, Sydney, Hong Kong and Melbourne along with the Japanese capital are “five-star” bleisure destinations.

As corporate travel booms across the Asia-Pacific, the concept of bleisure is gaining traction, spurring the region’s cities to better integrate opportunities for leisure amid busy business trips.

One significant finding from the study is that Asia’s best cities for bleisure are not necessarily the most liveable. For example, wealthy cities such as Auckland, New Zealand, and Adelaide, Australia, sit atop the league tables for liveability, but drastically underperform on bleisure.

Distribution

Younger travelers still seeking agent expertise

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Shutterstock

Agents remain key for travelers choosing complex itineraries despite the dominance of online retailers among the youth market, STA Travel says.

Speaking at the launch of the agency’s new travel trends report, UK country manager Tim Fryer said that while 70-80% of their customers start their journey online, face-to-face guidance remains key at a time when tailor-made, multi-stop trips featuring lesser-known destinations are on the up.

“Online is an absolute key booking channel for this market, however many of them have never done a trip like this before, so the expertise and the hand-holding that agents can provide is really important,” said Fryer.

Related: GDS hotel bookings increased 6.4 percent in 2018

Data Protection

The Marriott breach shows just how inadequate cyber risk disclosures are

Mar 05, 2019 / Marriott
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Shutterstock

Can you imagine a company like Marriott waiting for 11 weeks to disclose its quarterly earnings numbers?

The Marriott breach offers four takeaways that can be useful to both senior managers and regulators: 1) cyber risk disclosure continues to be inadequate; 2) special events such as mergers and associated cost cutting can trigger cyber breaches; 3) systemic cyber risk in the system is building; and 4) boards continue to be unprepared or unqualified to deal with cyber risk.

The only way to make companies take cyber risk seriously is to impose tough disclosure requirements and actively enforce those rules.

Digital Marketing

Are you evaluating the correct hotels in your comp set?

Mar 05, 2019 / Data
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Shutterstock

Kalibri Labs explains how hotel benchmarking is quickly changing.

Hotels don't compete with each hotel in their comp set for 100% of their business.

Kalibri Labs has introduced the Optimal Business Mix algorithm that enables hotels to see what hotels they compete with for each segment of their business and rate categories there is captureable opportunity for the subject hotel to go after. This paradigm shift moves hotels from striving for average, to optimal.

Digital Marketing

Three hotels increase return on ad spend by 150% with Facebook Travel Ads

Facebook
Facebook

Even though hotel marketers know how to use social media marketing to promote brand awareness and engage fans, many don’t know how to effectively leverage it to drive sales.

Facebook Travel Ads engage new and returning visitors who have browsed your hotel’s website by updating the ad copy with real-time data from your booking engine. Personalized ads are then served to users based on their specific search behaviors on your site, such as information relating to their stay dates and room types.

To assess its effectiveness compared with standard retargeting ads, Travel Tripper tested Facebook Travel Ads with three Mid-Atlantic hotels.

Distribution

What we learned at the Direct Booking Summit

Mar 05, 2019 / Triptease (sponsored)
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Shutterstock

Two of our highest-rated sessions centered on the importance of developing, testing and continuously improving a long-term direct booking strategy.

Chantelle Veness of The Lancemore Group in Australia took the audience through the process of setting up full-circle customer relationship management (CRM) for guests. "We had two goals for our CRM strategy," Chantelle shared.

On day two, the audience was captivated by Aida Merdovic's story of developing a completely holistic direct booking strategy for Hamilton Island. "There's no magic bullet for direct bookings," Aida suggested. "There are just lots of smaller initiatives you can take that build to bigger success."