Market Data

PwC updates US lodging outlook

Jan 30, 2019 / Economy
Shutterstock
Shutterstock

Fourth quarter lodging fundamentals came in just below expectations, with year-over-year RevPAR growth of 2.4 percent, driven by an average daily rate increase of 2.0 percent.

Despite expectations otherwise, occupancy levels increased marginally (0.4 percent), surprising many with continued growth at this stage in the lodging cycle. Growth in occupancy levels was supported by strong demand increases in the contract segment, while transient and group demand declined modestly on a year-over-year basis.

Despite concerns over the impact from the trade tensions with China and rising construction/labor costs, the US lodging industry ended 2018 on solid footing, with occupancy reaching levels not seen since 1981.

Looking ahead to 2019, our US lodging outlook remains stable, driven by steady economic fundamentals, including a continued increase in consumer spending; increasing, albeit decelerating business investment; and relatively strong consumer confidence.

Distribution

Booking CEO opposes proposed EU tax as an innovation killer

Jan 30, 2019 / Booking.com
Shutterstock
Shutterstock

Gillian Tans sounds like a typical corporate boss, opposing additional taxation as anti-business, as the proposed EU tax on revenue would amount to double taxation.

The proposed European Union measure, which faces opposition by several member countries, would impose a 3 percent tax on the Europe-generated revenue of tech companies. Booking.com and Spotify are among a number of companies signing a letter to Europe’s finance ministers charging that the proposal would “create a harmful legal precedent of taxing revenues over profits, even when the taxpayer is not yet profitable.”

Tans said in the interview that she’s not opposed to tax reform, but it should be done on a global basis - although that’s not very realistic.

Business Travel

Cvent CEO looks at 2019 & beyond

Jan 30, 2019 / Cvent
Cvent
Cvent

Cvent has spent the past two years integrating and upgrading technology after acquiring Lanyon in 2016.

The company is in growth mode: expanding its client base, its geographical coverage and, as always, its technology stack.

Cvent CEO Reggie Aggarwal sat down with BTN editor-in-chief Elizabeth West.

Market Data

Hotel execs ponder threats to record growth

Jan 30, 2019 / Economy
Shutterstock
Shutterstock

While executives at the Americas Lodging Investment Summit (ALIS) touted a 10th straight year of growth during opening sessions here, the triumph was tempered by economic and political uncertainty.

Goldman Sachs Group CEO David Solomon also warned that the economy is "late in the cycle," and that trade conflicts with China and instability across Europe have led to a general sense of apprehension.

According to Roger Dow, president and CEO of the U.S. Travel Association, macroeconomic pressures have already negatively affected the U.S. market's inbound travel. Softness in some South American and European markets and a stronger U.S. dollar have led to a decreased share of international arrivals.

Distribution

Hotels need to better control onward distribution of rates

Jan 30, 2019 / OTAs
Shutterstock
Shutterstock

Like Booking.Basic, many online travel agencies sell rates that they have sourced from a third party without a direct relationship with the accommodation provider.

Booking.Basic is an accommodation tier that periodically appears on Booking.com’s hotel listings when the rate provided to Booking.com is not the cheapest available online. The rates it offers are nonrefundable and made via a third party that is only revealed to guests after they have paid to book a room.

Booking.basic is one of many features introduced by online travel agencies in their push to have the most competitive rate online. Another is Booking.com’s Early Payment Benefit, which discounts the hotel’s rate in return for the guest paying up front on the OTA. While frustrating for hoteliers, the behaviour is understandable: Booking.com are harnessing the impact of ‘rogue rates’ already available online and putting them to work for themselves.

Technology

Cendyn voted as North America’s leading hotel CRM technology provider

Jan 30, 2019 / Cendyn (sponsored)
Cendyn
Cendyn

The prestigious World Travel Awards recognizes companies, organizations and brands that push the boundaries of hospitality industry excellence.

Cendyn’s CRM Suite caters to every hotelier from large brand to small boutique properties. Using multiple integrations, Cendyn consolidates numerous data points from disparate data transactions to engage with travelers throughout the guest journey.

The awards in North America follow Cendyn’s win of Leading Hotel CRM Technology Provider in Europe and Leading Data Driven Marketing Agency in Europe and Asia 2018.

Distribution

Net Affinity wins booking engine category at HotelTech Awards

Jan 30, 2019 / Net Affinity (sponsored)
HotelTech Awards
HotelTech Awards

At the 2019 Hotel Tech Awards Net Affinity received the award for Top Rated Hotel Booking Engine.

The HotelTechAwards (produced by Hotel Tech Report) announced the year's top rated hotel technology companies and products based on more than 20,000 hotelier ratings and data-points.

This data is used to identify the best companies in different categories - which for 2019 in the Booking Engine category is Net Affinity.