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Today’s hospitality markets have new challenges to overcome—especially resorts. No sooner have they begun to regain marketshare in a post-pandemic world when an economic recession is causing guests to become more cautious of where and when they spend their money and time. The good news is that they continue to spend.
Skift Take: The Indian aviation sector is adding more airports across the country, and airlines are investing in upgrading and expanding their fleets. A consistent growth in domestic air passenger traffic is crucial to their return on investments, especially as international airlines are eyeing this growing consumer base.
Today Knowland, the world’s leading provider of data-as-a-service insights on meetings and events for hospitality, announced the Crowne Plaza Dubai Marina Hotel selected the Knowland platform to gain access to insights into untapped industries and potential accounts, expand opportunities within the luxury hotel sector and empower sales teams to reallocate (..)
Skift Take: China's state-owned plane maker is presenting the COMAC C919 on the international stage with high hopes of stealing marketshare from Airbus and Boeing. Gordon Smith Read the Complete Story On Skift
Skift Take: If stiff regulation doesn't get in the way, it is very likely that short-term rentals will take a chunk of marketshare from hotels. That's why you'll see more hotels getting into the vacation rental biz. Dennis Schaal Read the Complete Story On Skift
Points range from the performance of their loyalty programs to how they're taking marketshare. Skift Take: A dozen things jumped out at Skift when looking at Marriott and Hilton's annual financial filings. Sean O'Neill Read the Complete Story On Skift
Skift Take: In the battle between Tripadvisor/Viator and GetYourGuide, the winner is — offline experiences, which have more than 90 percent marketshare. That spells big opportunities for both of these companies. Dennis Schaal Read the Complete Story On Skift
Skift Take: Taipei-based tours and activities operator KKday wants to grow its marketshare, but with it comes delivery challenges beyond the sector's offline fragmentation. Selene Brophy Read the Complete Story On Skift
Skift Take: As it seeks to deepen its marketshare and broaden its portfolio, Brigade Hotel's IPO plans highlights not just the company’s growth potential, but also the broader optimism surrounding India’s hospitality industry. Peden Doma Bhutia Read the Complete Story On Skift
Skift Take: Marriott sees Homes & Villas as a key part of keeping its customers happy to grow its loyalty marketshare, as opposed to dominating the short-term rental market. Selene Brophy Read the Complete Story On Skift
Skift Take: The hotel brands have largely captured marketshare in the upscale segment and are now expanding their portfolios into the relatively un-penetrated luxury and midscale/premium economy space that offer the greatest opportunity for further branded share gains. Pranavi Agarwal Read the Complete Story On Skift
Its ability to overhaul operations, modernize services, and win back marketshare will determine whether it can compete effectively against heavyweights like Emirates and the ever-dominant Indigo. Peden Doma Bhutia Read the Complete Story On Skift
Skift Take: Despite the volatility of the past few years, China is on track to become the world’s largest tourism market by 2032. As domestic travel returns, Accor is gaining marketshare by accelerating growth and tailoring solutions for the Chinese market. Accor Group Read the Complete Story On Skift
IRIS, the leading provider of digital F&B and guest experience platforms, is set to increase its marketshare across China’s growing hospitality market. Today it announces a new partnership with Asia-based hospitality technology reseller MYM, utilising IRIS’s Chinese Azure cloud solution.
This acquisition underscores our continued appetite for transactions that offer strong growth potential in both marketshare and asset value,” said Mehul Patel, managing partner and CEO, NewcrestImage.
In the perpetual quest to achieve greater marketshare, hoteliers constantly seek strategies to help them transcend the competition posed by online travel agencies (OTAs). This is where hotel data revenue can help.
What I caution from the start, though, is that this is an arms race; if every hospitality brand is gunning for improved marketshare or ADR growth by ramping up their personalization, then you can’t rest on your laurels. And rightfully so, as there’s a ton that hotels can and should be doing to enhance the guest experience.
Skift Take: TUI's ability to move beyond its safe middle-market playground through an expanded luxury offering came under the spotlight at the Skift Future of Lodging Forum. Ultimately, a brand's marketshare is way more than customer segments — it's really rooted in experience and value.
The African Hotel Chain Development Pipeline Report, the most trusted industry source, shows that Egypt holds a 28% marketshare, with the Big 5 hotel groups responsible for 71% of the pipeline across the continent.
By applying economic theory to this practice, hoteliers utilizing revenue management not only can optimize revenue generation, but also achieve economies of scale, earn marketshare, and foster long-term success.
Why Remington invested in service when others were cutting back “We knew that business would come back around eventually, and wanted to grab marketshare while everyone is operating very lean. Early on, we saw overall both our guest satisfaction scores and marketshare improving for the entire portfolio.
In my year-end missive following 2023, I reviewed the hotel transaction market dynamics comparing contrarian buyers to downhill skiers who dont want to follow in others tracks and "wanna-bes" to cross country skiers who predominantly follow the leaders tracks. Well, other than one huge investor in the market, SQ Capital, Inc.,
These projects will continue to encourage existing properties to innovate and update to keep marketshare. Several large-scale projects planned for 2023 and beyond will alter the waterpark landscape at both indoor and outdoor waterparks.
Let’s face it: today’s market is more crowded and competitive than ever before. And that means businesses no longer only compete with local retailers and the Big Box store on the corner for their fair marketshare. That makes marketing even more crucial to a company’s long-term survival. What Is Data-Driven Marketing?
The power or AI; Machine learning and how it is imperative to maintain marketshare and profitability. Introduction - You have the best pricing strategy in place. You have even implemented pricing automation. Last edition we talked about it. Having a powerful RMS is not enough.
CoStar Group (NASDAQ: CSGP), a leading provider of online real estate marketplaces, information and analytics in the commercial and residential property markets, announced today the launch of STR Benchmarking, a transformational marketshare product for the global hotel industry.
The branded residences market in Asia is soaring as buyers from across the world purchase second homes in playground cities or tropical resort destinations. share and South Korea with 11.6%. share and South Korea with 11.6%. Singapore has a branded residences market value of USD 2.78 a marketplace valued at USD 26.6
By leveraging data in key areas, hoteliers will streamline operations, reduce costs, and drive marketshare. Nearly 75% of hoteliers report using some form of data analytics to drive decision-making processes, according to a recent Hospitality Technology study.
Skift Take: Despite having the largest marketshare in India and a fleet size of 350 jets, the low-cost carrier has only operated narrow-body aircraft. Bulbul Dhawan Read the Complete Story On Skift
In less than two decades, short-term rentals have thoroughly transformed the hospitality industry, wresting 15% marketshare from hotels. But what happens to a community when Airbnb comes to town?
It involves increasing an organization’s size - its marketshare, revenue, and headcount. Business leaders must approach the growth process with caution. However, it’s crucial to remember that bigger is not always better. Growing a business is a journey fraught with risks.
Fairmont New Orleans will be an impressive new addition to Fairmont’s luxury portfolio in a key North American market," shared Omer Acar, CEO, Fairmont Hotels & Resorts. The city emanates an undeniable energy, with incredible heritage and culture at its core, which is a perfect fit for the iconic Fairmont brand.
of industry-wide marketshare, up from 15.2% Hotel demand fell 1.6% in December, while short-term rental demand rose 4.3%. Short-term rentals now represent roughly 18.6% prior to the pandemic.
EVT is expanding its Hotels and Resorts portfolio to international markets with the signing of its first hotel management agreement in Asia. Coupled with our market leading capabilities, we can customise, innovate, and demonstrate above market results for partners. “We
Online travel agencies are taking back some of the distribution marketshare they lost to hotel chains during the years leading up to the pandemic, as companies such as Expedia Group and Priceline parent Booking Holdings have ramped up marketing investment and product improvements to sell more room nights to prospective U.S.
An event venue connected to a hotel in New York City struggled to capture marketshare. Despite having a premium location and offerings, the venue was being overlooked by potential clients. The standalone website, which served as the primary digital presence for this venue, was seeing minimal traffic and conversions.
When new luxury and upper-upscale hotels enter a market, it can serve as a call to action for other hotels to up their game. For these legacy hotels, the challenge is not just to maintain marketshare but also to reinforce their foothold among new entrants.
Revenue management consultancy firm ELEVAT3 has launched a new sales & marketing division to provide tailored branding solutions for hoteliers, naming industry veteran Beth Barris as EVP, sales & marketing to lead the new offering. The post ELEVAT3 launches sales & marketing division appeared first on hotelbusiness.com.
Following an initially strong recovery in demand following international border openings in mid-2022, demand growth slowed in most New Zealand hotel markets from early 2024. This will provide a boost to the market, particularly outside the peak periods when it is desperately needed.
India’s amusement & theme parks industry is still nascent, accounting for only a minuscule global marketshare, however, demand in this segment is expected to increase in the future. Read on to know more.
However, the trend is shifting as hotels of all sizes increasingly embrace the outsourced revenue management model to enhance their revenue performance and marketshares, without increasing their payroll costs.
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