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Automatic

2938 posts

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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Hilton: U.S. leisure travel ‘definitely softening’

🏨 Hilton Worldwide, on August 8, 2024, posted stronger than expected second-quarter earnings and increased its 2024 profit forecast due to robust international travel demand. International RevPAR jumped 3.5%, with the Middle East and Africa spiking 10.7%, and Europe up by 6.7%. In contrast, U.S. RevPAR saw a modest 2.9% rise. Economic uncertainty led American tourists to reduce travel, impacting Hilton's share price with a 1.5% drop. CEO Christopher Nassetta highlighted consumers' decreased disposable income as they borrow more post-pandemic.
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Improving hotel website conversion rates top priority in 2024

🏨 On average, only 2% of visitors to hotel websites make a booking, with 98% choosing to book elsewhere. As of August 8, 2024, hoteliers are urged to prioritize website conversion strategies to boost direct bookings and reduce distribution costs. Hotel website ownership, revenue management for market and rate parity, and promotional marketing are key factors for improving results. Visit Max Starkov for more insights.
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Google could be forced to change search

🔎 On August 7, 2024, a U.S. ruling targeted Google's default search engine status, potentially stopping multi-billion dollar payments for secure positioning. Alternatives could mirror Europe's Digital Markets Act, prompting user choice for services. An extreme outcome may entail Google separating its search division or facing antitrust fines. Immediate effects are unlikely as Google intends to appeal, causing legal entanglements and delays. Full details at The Guardian.
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Hyatt Q2 driven by strong business travel bookings

💸 Hyatt Hotels experienced a 4.7% increase in global revenue per available room year-over-year by Q2 2024, with a significant 11.8% rise in Europe due to affluent American tourism. Business transient segment revenues surged approximately 14%, while group room revenue went up about 8%. Despite a robust performance, Hyatt lowered its full-year room revenue forecast, yet expects group bookings to grow by 7% in H2 2024 and 7.5% in 2025.
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Why your hotel should be available on Hopper

🏨 Hopper, a rapidly growing travel platform, particularly strong in North America, offers hotels the chance to reach a wider audience of cost-conscious travelers. As of August 7, 2024, hotels can increase visibility and potentially boost revenue by listing with Hopper, appealing to its substantial user base drawn to competitive rates.
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Tripadvisor launches in-app hotel bookings

📱 On August 7, 2024, Tripadvisor announced a partnership with Hopper to provide hotel bookings within the Tripadvisor app, aiming to make it an indispensable tool for members. Kristen Dalton, president since January, declared the integration a key milestone in improving the user experience. This feature is exclusive to logged-in members, with Tripadvisor focusing on enhancing its free membership program with potential in-app rewards.
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Airbnb warns of U.S. growth slowdown

💸 Airbnb anticipates third-quarter revenue below estimates on Aug 7, 2024, citing "weaker demand from U.S. customers" and economic uncertainty leading to shorter booking windows. Domestic U.S. travel has faced pressure since early 2024 due to increased travel spending caution. The company projects slower growth in nights booked for the third quarter, aligned with broader travel industry trends noted by Morningstar analyst, Dan Wasiolek.
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