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Difficult To Compare

📌 Travel industry adopts DTC, increasing product options from 500 in 2010 to 10,000 in 2024, causing travelers to visit up to 277 webpages before booking, a spike from just 38 in 2013. The digital transformation aims to enhance customer journey and revenue, necessitating marketplace technology to simplify choice and maintain consumer confidence.
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Chinese women lead the future of luxury travel

🌍 On Aug 5, 2024, FINN Partners released a study titled "China's Women In Charge," indicating a shift in Chinese women's travel preferences. Representing nearly 60% of Chinese tourists and influencing 70-80% of travel decisions, these women are redefining luxury travel. Material luxury takes a backseat as 63% seek "me time" and 50% prioritize joyful experiences. With China's expected return as the top international travel spender in 2023, their impact on the industry is significant.
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US hotel performance begins subtle descent

🏨 U.S. hotel occupancy dropped 1.5 percentage points from the previous week during July 21-27, more than the 0.6 point drop last year and the 0.4 point fall in 2019. Average daily rate (ADR) fell 0.9% week over week, while revenue per available room (RevPAR) decreased by 3%. Despite this, ADR is up 1.3% from last year, leading to a 0.9% RevPAR increase. Group demand remained high across the top 25 U.S. markets.
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Indian outbound tourism to grow by over 11%

🏖 India's outbound tourism market expected to grow from $18.8 billion in 2024 to $55.3 billion by 2034, with a CAGR of 11.4%. The online travel market, driven by digital platforms, projected to expand at a 10.5% CAGR from 2024's $17.24 billion to $28.40 billion in 2029. Southeast Asian, Middle Eastern, African, and Eastern European countries emerging as significant markets. Diverse traveler preferences and demographic growth, government support, improved connectivity, and niche market expansion contributing to growth.
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eBook: Top digital trends for the hospitality c-suite

📓 On Aug 5, 2024, an eBook detailing key digital trends in the hospitality industry was released. It addresses AI advancements, changes in search algorithms, OTA growth, and the post-COVID hotel business landscape. Topics include the transformation of the guest journey, AI-driven search impact, and crucial digital experience metrics. Available for download at Milestone.
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Opportunities for more inclusive travel marketing

📍 Aug 5, 2024: Brands adopting inclusive marketing strategies will likely achieve recognition as progressive and attract a wider audience. Visuals and language should reflect diversity, using terms like "guests" or "passengers" for inclusivity. Employee training on inclusivity is emphasized as they are the direct link to customers. More details on TTG Media.
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Worst season ever

🗽 Santorini sees a quiet season in July and August 2024, with town centers calm after 9 p.m. and hotels operating below 30% capacity. Overtourism is a concern, but the island's reputation for overcrowding deters tourists, impacting year-round visitation and longer stays.
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Americans’ travel bug for Europe is too much of a good thing

🏖 On Aug 2, 2024, a significant tourism-related trade gap was reported, with 7 million more Americans traveling to Europe than Europeans going to the U.S., marking the largest disparity since 2012. The average income of traveling American households was $154,000, an increase from $139,000 in 2019. European local economies benefit, but costs rise, exemplified by Italy's hotel rates surging 42% since 2019. Madrid's long-term rental prices dipped by 15%, while short-term tourist rentals soared over 50% in Q1.
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Booking.com touts social media success

💰 Booking.com, during its Q2 earnings call on August 2, 2024, highlighted increased social media marketing investment due to high ROI. Total marketing spend rose to $1.9 million, up from $1.8 million the previous year. The company now sees over 60% of total bookings coming directly, excluding B2B, marking a significant shift in their strategy.
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