Skift Take Today’s edition of Skift’s daily podcast looks at an exceptional hotel earnings season, surging last-minute vacation rental bookings, and U.S. tourism's sustainability marketing problem. Rashaad Jorden Good morning from Skift. It’s Monday, February 27. Here’s what you need to know about the business of travel today. Listen Now 🎧 … [Read more...]
A Few Top Takeaways From Hotel Earnings Season
Skift Take Hotel companies have been booking it in the post-pandemic rebound. The latest earnings season suggests that the good times should continue to roll through much of the year, barring a surprise. Sean O'Neill It was a stellar hotel earnings season. Demand remains strong, and pricing remains robust, according to groups reporting their financial performance in … [Read more...]
The War in Ukraine’s Impact on Travel
Skift Take Today’s edition of Skift’s daily podcast looks at Accor’s earnings, one year of war in Ukraine, and Dubai’s remote work pitch. Rashaad Jorden Good morning from Skift. It’s Frida, February 24. Here’s what you need to know about the business of travel today. Listen Now 🎧 Subscribe Apple … [Read more...]
Hotels Eagerly Await Returning Chinese Travelers
Skift Take Hoteliers have been waiting for Chinese outbound tourists for some time, but borders have only really begun unlocking now. Plus, other hotel news from across the globe. Sean O'Neill Here are some excerpts from Daily Lodging Report from the past week. If you’re not a subscriber, you should be. Get news on hotel deals, development, stocks, and career moves. … [Read more...]
Booking Holdings Makes Good on Long-Standing Goal to Take U.S. Market Share
Skift Take Booking.com made headway in the U.S. while Expedia was likely distracted getting its internal house in order. Throw Hopper into the mix, and Booking will have to fight to solidify any inroads. Dennis Schaal Booking Holdings officials have spoken for years about their aim to take market share in rival Expedia Group’s stronghold, namely the U.S., and Booking … [Read more...]
Spain’s eDreams Sees Strong Bookings and Subscription Signups in Its 3rd Quarter
Skift Take eDreams Odigeo continues to build momentum in its subscription program, although the company is not close to being profitable yet. Dennis Schaal Spanish travel booking company eDreams ODIGEO said on Thursday its net loss in the October-December period narrowed to 10.1 million euros ($10.7 million) as it added more subscribers and the number of bookings … [Read more...]
Accor’s Robust 2022 Invigorates Bet on Local Hybrid Hospitality
Executives at Accor, Europe’s largest hotel operator with about 5,445 hotels worldwide, envy how U.S.-based hotel operators have consolidated North America. But they argue they have a better sense of the ground game for hospitality in the rest of the world, claiming some competitive advantages in their local footprints and operational models that they say would be more appealing to local … [Read more...]
Sequoia Capital-Backed Safara Curates New Gen Z Travel Booking
Hotel booking startup, Safara, is hoping to use curated lists and invite-only memberships to meet the high expectations of the Gen Z traveler. “Our point of view is that over the next 10 years, there’s going to be a generational shift in spending, and that’s just natural,” said Doug Schuessler, CEO of Safara. “We’re thinking about building a generational company … if we’re thinking across … [Read more...]
Emerging Boutique Hotel Brand Casetta Tests Next-Gen Storytelling
Skift Take Casetta is winning acclaim as a boutique hotel brand that renovates and runs old hotels and lodges with stories to tell. But will its "barely there branding" pay off for its investors? Leslie Barrie When guests drive up to Marina Riviera, a boutique hotel in Big Bear, California that opened in the autumn of 2022, they won’t see a big sign for Casetta, the … [Read more...]
Tech Investments Drive IHG Success
Skift Take Today’s edition of Skift’s daily podcast looks at IHG's digital-driven boost, business traveler replacements, and Singapore Air's very good quarter. Rashaad Jorden Good morning from Skift. It’s Wednesday, February 22. Here’s what you need to know about the business of travel today. Listen Now 🎧 Subscribe Apple … [Read more...]
Online Travel Storytelling Spin Cycle Is Running at Full Speed
Skift Take What happened to the good old days of rich travel companies getting richer through digital marketing? Ha. Airbnb said brand marketing and public relations (both forms of storytelling) let it reduce its reliance on performance marketing. Dennis Schaal Online Travel This Week It’s another earnings season so online travel companies such as Airbnb, Expedia … [Read more...]
IHG Expects Hotel Rates to Stay Strong Thanks to Digital Investments
Skift Take IHG's hotel rates are now much higher than in 2019 even though occupancy hasn't recovered. We hear a lot about pent-up demand as a factor, but technology matters more long-term. Plus, IHG's claim to market-share leadership in China bodes well. Sean O'Neill For InterContinental Hotels Group (IHG), soaring hotel rates owing to a post-pandemic surge in … [Read more...]
The Trends Boutique Hotels Need to Watch in 2023
When Frances Kiradjian started the Boutique Lifestyle Leaders Association (BLLA) in 2009, her friends seriously questioned the idea. “People thought before 2009 that the boutique lifestyle was dead,” she said. “Even some of the brands that big guys had eaten up decided they wouldn’t use the word ‘boutique’ anymore.” Flash forward to today, and the industry is thriving — leading the way in … [Read more...]
Conversational AI Boom Is About to Change Travel Search and Booking
Skift Take Integrated conversational AI has immense potential to transform travel search, planning and booking. Watch our CEO break down how search and booking engines need to step up on innovation. Sherry Sun Technology is 100 percent possible. What matters is whether, or when, large companies will adopt it for product development. We will likely see more … [Read more...]
Trivago and Tripadvisor Metasearch Lag Online Travel Agency Pandemic Recovery
Skift Take Some metasearch sites have lost a bit of marketing appeal for advertisers. More brand marketing and Google are likely among the factors behind the trend. Dennis Schaal Travel metasearch sites such as Trivago and Tripadvisor fell considerably short of pre-pandemic 2019 revenue levels in 2022 while travel companies in other sectors, such as Airbnb in … [Read more...]
Look for European Hotel Dealmaking to Pick Up Later in 2023
Skift Take Deloitte's top hotel consultant, Andreas Scriven, has a finger on the pulse of European dealmaking. He forecasts more assets changing hands in the year's back half. Sean O'Neill Andreas Scriven is the lead partner for the hospitality and leisure practice at Deloitte UK and Deloitte NS Europe. Scriven has an interesting perspective on European hotel deals … [Read more...]
A Very Good Earnings Season for Hotel Companies
Skift Take While it was a big week for hotel earnings, we also lead with coverage of online booking companies as well as developing news about smart uses of AI by travel brands. Jason Clampet First Things It was a big week for hotel and short-term rental earnings, with a few record quarters from Marriott, Hyatt, Airbnb, Choice, and Wyndham. Overall, the outlook … [Read more...]
China to Power Global Hotel Development in 2023
Here are some excerpts from Daily Lodging Report from the past week. If you’re not a subscriber, you should be. Get news on hotel deals, development, stocks, and career moves. Sign up here, now. Sunday Oxford Industries is partnering with Lowe to revive the Tommy Bahama Miramonte Resort & Spa, in Indian Wells, California, which Lowe has owned since 2020. The two will … [Read more...]
Hyatt Hotels Expects Room Rate Rebound to Roll On Through 2023
Skift Take Hyatt's forecast for 2023 in one phrase? World boom ahead. Sean O'Neill Hyatt Hotels Corp., which enjoyed a blockbuster financial performance in 2022, forecasted Thursday continued success this year, especially in the first half. The company expects to benefit from growing consumer interest in its lifestyle, luxury, and resort properties, returning group … [Read more...]
How Americans Changed Their Online Travel Habits Since the Pandemic: New Skift Research
Skift Take Are the channel wars coming back? The pandemic brought a wave of direct bookings but our latest survey data suggests that this trend may not last. Plus, we find surprising shifts in booking site usage and share among American travelers. Seth Borko Skift Research’s latest report looks at how online travel booking habits changed during the pandemic and how … [Read more...]