Automatic - 10 Minutes News for Hoteliers - Page 262

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Soft brands move into midscale

🏨 In 2024, Accor, Best Western, and Wyndham are targeting the midscale market with soft brands, capitalizing on the trend among young travelers for unique, yet affordable lodging. Wyndham is adapting to the preferences of a younger generation, Best Western is tapping into the midscale and economy segments with its SureStay Collection, and Choice Hotels offers an upscale experience through its Ascend Hotel Collection. The shift comes as demand increases for reasonably priced options with distinctive character.

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Why booking direct can be more expensive

✈ On Aug 15, 2024, booking flights directly with airlines could lead to higher costs due to a trend in personalization, ancillary fees, and complex seat selection. American Airlines acknowledges significant revenue from these fees, while Expedia spokesperson Melanie Fish suggests third-party services strive to simplify the process for customers.

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Adtech trends shaping the future of travel

🏆 On August 15, 2024, adtech solutions are pivotal in the travel industry's evolution, particularly in marketing strategies. These solutions utilize data analysis of travelers' searches, bookings, and social media to predict future travel plans and tailor personalized ads. Augmented Reality (AR) enhances the real-world travel experience with interactive content, while mobile ads target travelers through various planning stages. The advent of 5G technology promises to further revolutionize the industry by providing faster and more reliable connectivity for real-time content delivery.

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Travel is getting more personal

🏖️ On Aug 15, 2024, AI-powered chatbots are streamlining the booking process in travel, handling flights, accommodations, payments, and baggage tracking. Personalization is key; platforms like Google Travel and TripAdvisor use machine learning to customize itineraries. AI also predicts flight prices with tools like Hopper. Operational efficiency and sustainability are improved, with initiatives like Google's DeepMind optimizing flight paths to reduce aviation-related emissions. Read more at Forbes.

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Inside the rise of TikTok Travel

📱 On Aug 15, 2024, Adobe revealed that 64% of Gen Z use TikTok for search, particularly for travel inspiration and planning. TikTok's #holiday tag amassed 3 billion views in the past month, with content ranging from itineraries to dining suggestions. The platform is gaining traction with all age groups, with 92% of UK Millennials and 83% of Gen X and Baby Boomers taking action after viewing content.

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ChatGPT leads AI travel planning

🌍 In a Sainsbury's Bank Travel Money survey from Aug 15, 2024, ChatGPT emerged as the top AI travel planning tool among 2,000 UK travelers, with a 45% usage rate. Competing AI tools included Roam Around (27%), Guide.com (25%), Microsoft Copilot (24%), and Out of Office (23%). Notably, 46% of 18-24 year-olds and 43% of 25-34 year-olds are inclined to use AI for vacation planning.

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One of America’s richest cities sinks in massive hotel debt

🏕 San Francisco's tourism industry lags in recovery, with the value of its two largest hotels dropping by $1 billion to $553.8 million. As of August 14, 2024, weekend hotel occupancy is down 22% since 2019. Visitor numbers aren't expected to rebound until 2028-2029, contrasting with a mere 4% national decline. The high cost of living in the Bay Area, the second most expensive region in the U.S. after New York City, may deter tourists.

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Top trends driving US hotel investment in 2024

🏨 U.S. hotel transaction volume hit $9.2 billion in H1 2024, a 23% decrease from the previous year. RevPAR remains strong, especially in urban markets with high potential for growth. Factors influencing the hotel industry include sluggish supply growth due to increased construction costs and supply chain issues, yet investor interest persists in urban and high-barrier-to-entry markets. An anticipated rise in commercial mortgage-backed security loans could stimulate hotel transactions in H2 2024.

Cendyn launches product Learning Center

🎓 On August 14, 2024, the Cendyn Learning Center, part of Cendyn’s Knowledge Cloud, launched with over 17 curriculums to support the career growth of more than 32,000 global hotel clients. Designed to enhance Cendyn product knowledge, these training programs aim to empower hotel professionals with the skills to improve their performance and achieve commercial goals through a digital guest journey.

Google extends deadline for Hotel Ads commission bidding sunset

📣 Google's commission-based bidding for Hotel Ads has a new deadline: February 20, 2025. Advertisers have until November 30, 2025, for per-stay commission reconciliation. Hotels must transition to new strategies before these dates.

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