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Automatic

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US: Strong desire to travel continues

📈 On August 12, 2024, amidst market volatility, the U.S. Bureau of Labor Statistics reports a rise in unemployment to 4.3%. However, the travel industry remains strong, with 92% of Americans planning domestic travel within six months. TSA screenings show a 5.9% increase in travel volumes in June and July over the previous year, while international travel is up 18% year-to-date, nearing pre-Cold War levels.
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IHG direct business reaches 80%

💸 InterContinental Hotels Group (IHG) CEO Elie Maalouf revealed on August 12, 2024, investments in technology and loyalty programs to boost direct bookings. The group's guest reservation system (GRS), developed with Amadeus since 2015, enables upselling in over 6,000 hotels, averaging extra $40 in Luxury and Lifestyle, $20 in Essentials and Suites. Their cloud-based revenue management system (RMS), in 1,700 hotels, uses data science, AI, and predictive tools to optimize booking channels and pricing, showing initial revenue gains.
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Summer travelers prefer hotels over Airbnb

🏨 On Aug 12, 2024, Medallia Market Research surveyed 2,000 travelers, discovering 53% prefer hotels over Airbnbs and Vrbo rentals (28%) for the summer season. Hotels are favored for location (50%) and cleanliness, outpacing short-term rentals at 44%. Enhancing guest experience through digital analytics and behavioral intelligence during booking and pre-stay is essential for hoteliers to maintain brand trust and loyalty. Full details at Hotel Dive.
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Expedia.com grows faster than rivals, but notes ‘softening’ demand

📈 Expedia's shares rose over 8% on Friday, August 12, 2024, after surpassing quarterly profit expectations. Domestic travel in the U.S. has been challenged since early 2024, leading to Expedia cutting the FY24 booking growth forecast to 4%, from an earlier mid- to high-single-digit growth estimate. The company flagged concerns about future demand due to rising costs and inflation, aligning with competitors like Booking and Airbnb who observe consumers delaying travel and spending cautiously.
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The evolution of tipping in the hospitality industry

🏠 Hospitality industry adopts digital tipping as a contemporary solution, enhancing staff morale, job satisfaction, and retention. This modern approach, noted on Aug 12, 2024, is in line with consumer behavior changes, offering instant payments and inclusivity for all employees. The move signifies a broader shift towards efficiency and raises questions regarding the transition's impact.
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Overtourism solutions: Putting the residents first

🏖️ On Aug 12, 2024, experts urged lawmakers and management companies to address tourism challenges by involving residents from the beginning. Simon Hudson of the University of South Carolina highlighted the dependence of tourist happiness on the satisfaction of residents and workers in tourism-centric areas. George Washington University's Cevat Tosun advocated for "de-marketing" to distribute tourism's impact more evenly. Strategies to recalibrate how destinations are promoted were recommended to target specific visitors. Read more at Travel Weekly.
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Hotel marketing will become more advanced in 2025

📈 On Aug 8, 2024, the article outlines the importance of strategic marketing for hotels to attract the right guests by considering preferences and price points. Utilizing channels like Facebook, Instagram, and X (formerly Twitter) enables personalized service and customer equity. Hotels aim to target guests based on their interests, ranging from sustainability to fine dining and scenic hiking.
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2024 Hospitality: Embracing the digital marketing wave

🏨 In 2024, 100% of hoteliers aim to invest in digital media campaigns to boost occupancy during slow periods. A third plan to allocate $50,001-$100,000, with 21% budgeting over $100,000. Data-driven ads are acknowledged by 41% for successfully targeting new audiences, while 40% note improved engagement through effective media campaigns. Details are from Amadeus' Travel Technology Investment Trends 2024 research.
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