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Automatic

2817 posts

Marriott starts to lay off corporate employees

🛒 Marriott International, on November 15, 2024, is undergoing a global restructuring impacting corporate-level positions amid a quest to save $80-$90 million annually. Revealed in third-quarter results on November 4, this shift offers early retirement to some, while others may reapply for roles within the company. The overhaul spans Marriott's global operations, aiming to enhance efficiencies and promote growth.
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Hotrec claims Booking.com fails to comply with DMA

🔔 HOTREC, the European hotel association, on Nov 15, 2024, challenges Booking.com's parity clause changes for lack of significant improvement and transparency, particularly the mandatory prepayment system. Marie Audren, Director General of HOTREC, urges full compliance with the Digital Markets Act (DMA) to ensure market fairness and has called for a European Commission investigation into Booking.com's potential non-compliance, citing the need for affordable, transparent options for European travelers and fair practices for hotels, especially SMEs.
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CBRE cuts 2024 hotel forecast, but sees recovery ahead

🏨 CBRE Hotels Research lowers 2024 U.S. hotel forecast: RevPAR growth cut to 0.5% (from 1.2%), occupancy to decrease by 0.3% (from 0.3% rise), ADR growth at 0.7% (down from 1.1%). Q3 underperformed due to weak leisure demand, though group and business travel grew. Economic outlook with strong GDP growth, moderating inflation, and limited hotel supply could improve ADR and RevPAR. CBRE expects better market fundamentals and accelerated RevPAR growth into 2025.
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Q3 strongest quarter for group business this year

📈 On Nov 15, 2024, Cendyn and Amadeus reported that their Hospitality Index reached a four-quarter high with a 1% increase in room nights and a 5% rise in ADR, marking continuous growth for the eighth quarter. The overall health metric peaked at 107.9% year-over-year. Houston, New Orleans, and Chicago saw the highest growth rates of 120%, 118%, and 114.8%, respectively, with all but San Francisco scoring above 100%. Meetings and group business are highlighted as future growth areas.
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Cvent’s trends shaping the future of meetings and events

🏆 On Nov 15, 2024, at Cvent CONNECT Europe, CEO Reggie Aggarwal highlighted the transformative recovery of the events industry. AI is advancing event planning with over 20 initiatives and 200 experts. Organizations now prioritize ROI, leveraging Cvent's platform for data-driven decisions. The experience economy thrives as demand for in-person experiences grows, driven by hybrid work trends. Reggie Aggarwal affirms the lasting impact of events for connection and community.
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Maximizing share of voice and prioritizing direct bookings

📌 On Nov 14, 2024, a key metric for hotels, Share of Voice (SOV), is highlighted, revealing the strategy to increase direct bookings by understanding traveler's purchase behaviors. Expedia research indicates travelers spend over five hours researching trips, presenting an opportunity for hotels to leverage digital advertising, SEO, and social content during this phase. Emphasizing direct booking perks like room upgrades, personalized experiences, and exclusive offers can influence traveler's decisions. Additionally, offering personalized perks for direct bookings can foster emotional connections and encourage repeat business.
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Expedia boosts app user experience, loyalty offerings

📱 Expedia Group, in Q3 2024, enhanced the One Key loyalty program, app features, and customer service. Leveraging AI, over 70% of travelers can now read concise summaries of reviews, assisting with informed decisions and development efficiency. The loyalty program membership saw a 7% global increase year-over-year, propelled by new airline redemption options and Vrbo discounts for members.
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Americans are most likely to book hotels direct

🏨 In 2025, 37% of Americans plan to book hotel stays directly, surpassing the global average of 27%. A significant 57% of those over 60 prefer direct bookings. Loyalty incentives influence 33% of Americans, 9% above the global rate. American international travel is set to rise to 51% from 43%, with Gen Z leading at 73%. Top destinations for American Gen Z include Australia (13%), France (10%), Brazil (7%), New Zealand (7%), and Canada (10%). Details from SiteMinder's Changing Traveler Report 2025, released Nov 14, 2024.
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Hoteliers too ambitious about the future of direct bookings?

🏨 Skift's Hotel Distribution Outlook 2024 forecasts direct digital channels outpacing OTAs in hotel bookings by 2030. On Nov 14, 2024, the report suggests a rise in digital direct bookings from 25% to 42% by 2024, while cutting OTA dependence from 25% to 13%. Hotels invest 2.5%-2.75% of net room revenue in technology, starkly lower than Expedia's and Booking's 15%-17%. Marketing budgets for hotels also trail at under 2.5% versus Booking's 36% and Expedia's 54%.
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