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Booking.com beats Q4 estimates but faces slowing growth

🇺🇸 On Feb 21, 2025, Booking Holdings reported a successful Q4 with adjusted profits of $32 per share, exceeding estimates of $29.86. Despite a strong recovery in Asian markets, particularly China, with room night bookings growing in the mid-teens, U.S. bookings remained flat. The company's shares dropped approximately 10% after hours. For Q1, Booking forecasts 4-6% growth in room nights and 11-13% in revenue. Industry peers, including Hilton, Marriott, and Expedia, anticipate slower growth in 2024.
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Booking.com confident AI won’t disrupt its market position

📈 On Feb 21, 2025, Booking Holdings CEO Glenn Fogel addressed concerns about AI disruption, highlighting the company's history of adaptation. Booking Holdings is leveraging AI through products like Priceline’s Penny AI and Booking.com’s AI trip planner, ensuring their data remains a competitive asset. CFO Ewout Steenbergen noted the economic aspect of AI platforms, suggesting partnerships with Booking as a monetization strategy amidst a competitive AI-driven landscape. More details at Skift (subscription required).
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The Anthropic Economic Index

🧠 Anthropic launches the Anthropic Economic Index to study AI's effects on labor markets, using data from millions of anonymized conversations on Claude.ai. Initial report finds 36% of occupations use AI for at least one-quarter of tasks, while 4% use it for three-quarters. AI is used more for augmentation (57%) than automation (43%), predominantly in mid-to-high wage jobs. Computer and mathematical roles have the highest AI usage at 37.2%. The dataset is open-sourced for further research, and the study invites input from experts for policy development.
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UK tourism struggles amid Brexit and inflation challenges

🏖 UK tourism sector facing downturn with 2025 visitor spending 9% lower than 2019 in real terms, despite 43.4 million projected visits. Brexit policies, like ID card entry ban and new Electronic Travel Authorisation costing £16 from April 2025, deter visitors. Tourism prices outpacing general inflation, contributing to a global ranking decline. 1.5 million fewer business visits compared to pre-Covid. US tourists contribute 20% of total spending. UK targets 50 million visitors by 2030, focusing on markets such as the US, Australia, and the Gulf.
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Accor’s new white paper on spa and wellness design

🛀 Accor's white paper, "Making Waves," predicts spa and wellness trends in hospitality, based on a survey of 7,500 consumers from six countries. Published on Feb 19, 2025, it finds 79% of travelers prioritize wellness, echoing Skift's 2023 survey with 80%. The report suggests a shift towards local membership wellness clubs and social thermal experiences, like the future BASIN Glacial Waters at Fairmont Chateau Lake Louise, and advocates redefined hotel spas with specialized services and adult-only areas.
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Accenture: The time to embrace Gen AI is now

🌍 On February 19, 2025, a $28 billion opportunity was identified for travel companies utilizing generative AI to enhance personalized experiences. Gen AI helps tailor itineraries and suggest accommodations based on individual preferences. Tools like KAYAK's AI refine searches using real-time data, while Saudia Airlines' AI assistant simplifies booking. Over half of travelers face filtering issues, but Gen AI offers smarter filters to ease decision-making. Furthermore, Gen AI can automate tasks, elevating productivity and customer support. A notable 97% of travelers are interested in an all-in-one travel superapp, which Gen AI could feasibly power.
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The future of travel is coming sooner than you think

🏖 By 2025, AI and digital identity will transform the travel industry, with AI agents handling customer service, sales, and operations. AI-powered guides, translation, and smart glasses will enhance experiences, while AI booking agents could shift the online travel agency-supplier dynamic. Google's AI Overviews and generative AI may disrupt SEO and digital advertising. Digital wallets will enable personalized, efficient booking. Source: "Travel Innovation and Technology Trends 2025" by Phocuswright.
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Airbnb gains market share against hotels

📌 Airbnb, in 2024, outperformed hotels and Vrbo, especially in non-urban areas. By Feb 19, 2025, the company saw a net income of $461 million for Q4, up 12% to $2.5 billion in revenue. CEO Brian Chesky plans to reintroduce Experiences in May and integrate third-party services. Following the earnings report, Airbnb's stock rose nearly 16%.
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Cvent group sourcing volume sets new records

📊 In 2024, the Cvent Supplier Network (CSN) sourced a record $16.5 billion in group business volume, a 16% increase in room nights from 2019. By Feb 19, 2025, trends indicate a need for AI in managing rising RFP volumes. Nearly 90% of planners forecast more in-person meetings, with 70% expecting larger budgets in 2025. Special event venue sourcing jumped to 49% from 17% in 2023 and 80% of planners demand RFP responses within four days. Additionally, 70% manage both group and transient hotel programs.
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Sonder on Marriott deal, financial uncertainty

💸 On Feb 18, 2025, Sonder Holdings filed a third-quarter earnings report, detailing a 1% revenue increase to $162.1 million and a net loss spike to $179.4 million. The company reduced its portfolio by 70 buildings, leaving 10,100 live units, and struck a $15 million licensing deal with Marriott. Concerns about Sonder's viability persist, with a 22% RevPAR increase but nearly 10% fewer occupied nights. The company must pay royalties to Marriott and faces a March 31, 2025 deadline for the remaining $7.5 million from Marriott.
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