Posts by author

Rafat Ali

3 posts
View Post
  • 1 min

HBX Group Expects Over EUR 1 Billion in Additional Travel, Yet Faces Revenue Stagnation and Lower EBITDA

🛌 HBX Group, operating Hotelbeds, the leading independent hotel wholesaler globally, anticipates processing over EUR 1 billion more in travel this year. Despite this growth, anticipated revenues remain flat with a decline in adjusted EBITDA compared to the previous year. Since their February 2025 IPO at EUR 11.50, shares have dropped nearly 33%. A significant shift in take-rate dynamics is cited as a key factor affecting their financial expectations.
View Post
Share
View Post
  • 2 min

Boutique Hotel Brands Sell Names and Management Contracts to Global Chains While Keeping Real Estate Assets

🏨 Recent boutique hotel deals involve brands like Graduate, NoMad, Standard, Ace, and citizenM separating brand from real estate. Founders sell due to high OTA commissions (15–25%) versus lower costs from chains like Marriott and Hilton. Sharan Pasricha's ventures highlight the dilemma: scale with outside capital or stay independent. Deals include Hilton-Graduate, Hyatt-Standard International, and Marriott-citizenM. Survivors like Firmdale and Peninsula succeed with patient capital and real estate. Ennismore eyes a New York listing valued at $3.4B–$5.8B.
View Post
Share
View Post
  • 1 min

Delta and American Airlines Earn Billions from Credit Card Partnerships, Highlighting Uncapped U.S. Interchange Fees

💸 Delta collected $8.2 billion from American Express in 2025, making up 14% of its adjusted operating revenue. This figure is expected to reach $10 billion. American Airlines earned $6.2 billion from co-brand cards and partners, and signed a 10-year exclusive deal with Citi, projected to add $1.5 billion annually. These earnings highlight the significant role of interchange fees in the U.S. credit card system, uncapped unlike in other wealthy economies.
View Post
Share