Distribution

Airbnb quarterly revenue tops $1 billion for the second time

Sep 19, 2019 / Airbnb
Shutterstock
Shutterstock

In the first quarter of 2019, Airbnb actually beat Expedia in terms of booked room nights, although it is still some distance behind in bookings.

Over the last few years, the company has made sporadic announcements about its financial performance – with news also emerging from leaked financial information.

In the third quarter of 2018, Airbnb said it had “recognized substantially more than $1 billion in revenue”

Bloomberg previously reported that Airbnb made $93 million in profit on $2.6 billion in revenue during 2017, citing people familiar with the matter, and a year later said it had been profitable in 2018.

Related: Airbnb says it will go public next year

Business Travel

BCD Travel predicts hotel rate rises of 1-3% for 2020

Sep 19, 2019 / BCD Travel
BCD Travel
BCD Travel

Hotel rates in North America will climb 2% to 4% in the U.S. and Canada. Strong demand in Europe will push meetings costs up 3% to 4%.

The increase in global hotel prices is being driven by solid demand keeping occupancy high in most regions. Rate increases will be higher in Asia - particularly Japan, host of the 2020 Summer Olympics, and Vietnam, where both leisure and business travel demand is strong.

Meanwhile, airlines will raise average fares in most markets to help offset higher fuel and labor costs. Globally, average ticket prices are expected to rise between 1% and 2% in 2020.

Download: BCD Travel's 2020 Industry Forecast

Distribution

Ctrip CEO offers access to China for global partners

Sep 19, 2019 / Ctrip
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Shutterstock

Jane Sun, CEO of Ctrip.com offered her company’s resources to international partners looking to enter the Chinese market.

Ms. Sun said that she is confident in the overwhelmingly positive outlook for the tourism sector. “The Chinese tourism industry continues to experience constant, exponential growth,” she said. “Last year, we sold 700 million high-speed railway tickets, 350 million airplane tickets, and 350 million hotel rooms.”

External indicators, too, point to sustained growth for the tourism industry. According to UNWTO statistics, in 2018, 150 million Chinese travelers went abroad, contributing USD $250 billion to the global economy. These figures have grown exponentially over the past two decades and will continue to do so, said Sun, as 66 million households join the middle class and passport ownership doubles over the next decade.

Loyalty Program

Marriott: Deliver choice and control and be 'super conscientious'

Sep 19, 2019 / Marriott
Marriott International
Marriott International

While a great portfolio of hotels remains a cornerstone of Marriott's offering, the group understands that in today's climate they must go further to keep loyal customers in the fold.

Customers no longer want a bog-standard travel experience. Period. They might want to stay in a luxury hotel one night, a moderately priced business hotel the next and a week later rent a log cabin on a distant mountaintop. So, is the traditional hotel loyalty program dead?

Not exactly, but it is definitely not what it used to be. Loyalty programs today have to go much further than they did in the past. It’s all about giving customers choice, while at the same time allowing them to be in control.

Digital Marketing

Global CRM Study preview: The top challenges when it comes to CRM

Sep 19, 2019 / Cendyn (sponsored)
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Shutterstock

The importance of a single source of truth as the centerpiece of a profitable customer relationship management strategy is one of the key takeaways from H2C’s Global CRM Study.

The vendor-agnostic study combined findings from an online survey of 62 executives of both global and regional hotel chains and interviews with 25 hotel executives and 11 technology providers. Here are the first set of takeaways from H2C’s far-reaching report on the state of CRM worldwide.

Respondents were in agreement: The primary role of the CRM is to enhance the guest experience - and thus increase profitability. To fulfill this role, it requires a single source of truth, said one respondent: “CRM is the single source of data truth, the heart of everything.”