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3021 posts

Amadeus reports strong third quarter results

🏨 Amadeus reported double-digit growth in the first nine months of 2024, including strong Q3 results announced on November 11, 2024. Marriott International, Choice Hotels, and Wyndham Hotels & Resorts hit record pipeline levels in Q3 due to robust signings, with IHG Hotels & Resorts and Hyatt also expanding. Hotel conversions boosted room growth, offering a quicker alternative to new construction, and group travel lifted Q3 RevPAR for major hotel brands like Marriott, Hyatt, and IHG.
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Hoteliers see demographics as key to travel’s future

📍 On Nov 7, 2024, top executives from IHG, Accor, Hilton, and Marriott predicted influential trends for the hotel industry. Hilton CEO Chris Nassetta highlighted the expected rise to over five billion people in the middle class by 2030. Marriott CEO Anthony Capuano discussed utilizing consumer spending data from branded credit cards to target this demographic. Accor CEO Sebastien Bazin advocated for economy and midscale hotels to capitalize on local demographics, suggesting luxury hotels should delay entering new destinations. Read more at Skift (subscription required).
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How RPA is Transforming Hotel Operations: Boost Efficiency in Finance, Customer Service, and Housekeeping

🔧 RPA is transforming the hospitality industry, offering efficiency boosts and better business outcomes. Five Steps to RPA Adoption include: assessing operational processes, creating a business case, defining capability targets, mapping execution path, and executing with continuous optimisation. Key areas for automation are finance, customer service, and housekeeping. RPA reduces manual data entry and processing times, leading to error reduction and cost savings. Continual performance monitoring is crucial for long-term success and alignment with evolving business needs. Infographic by techtalk.travel.
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Travelers want convenience and tech

📅 On Nov 6, 2024, IATA's Global Passenger Survey revealed that 68% of passengers prioritize airport proximity, 71% prefer online/mobile bookings, and 79% favor credit/debit cards. Digital wallets are preferred by 20%, and IATA Pay saw a 3% increase. Convenience is the top reason for payment choice at 70%. Full report available on IATA's website.
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Sabre describes itself as a ‘different company today’

🏨 On Nov 6, 2024, travel and hospitality sectors saw gains, with Travel Solutions revenue up by 3% to $691 million, and Distribution revenue increasing by 5% to $551 million. IT Solutions, however, dipped by 5%, falling to $140 million. Hospitality Solutions rose to $84 million, a $5 million increase, with central reservation system transactions contributing $35 million, up 2%.
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Amex GBT’s two-pronged strategy

💳 American Express Global Business Travel (Amex GBT) sees a 9% increase in transaction volume and 5% revenue growth year-over-year in Q3 2024. Secured $3 billion in new business up to September 30, with two-thirds coming from small and medium-sized business (SMB) customers. Global multinationals experienced an 8% transaction growth, while SMBs had a 2% increase, highlighting the vast potential for Amex GBT in the SMB sector.
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Ryanair’s OTA war has left it wounded

✈️ Ryanair's conflict with OTAs led to a 10% drop in average fares to €52 year-over-year in the first half of 2024. By late 2023, Booking.com, Expedia, and Kayak had stopped listing its flights. The airline's misjudgment of OTA user loyalty forced fare reductions to fill seats. Ryanair subsequently formed "approved partnerships" with most OTAs, resolving disputes and reinstating flight listings on OTA platforms.
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Expedia Chair Diller says deal with Uber ‘not going to happen’

🛫 On Nov 5, 2024, Expedia Chairman Barry Diller confirmed to CNBC that a potential acquisition of Seattle-based Expedia Group by Uber, rumored last month by the *Financial Times*, will not occur. Despite acknowledging the sensible aspect of an Uber-Expedia "industrial combination," Diller, who also chairs IAC and holds enough voting shares to block deals, envisions Expedia's significant growth independently.
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