Innovation

🎉 STAAH, a hospitality technology solutions provider, announced its December 2024 product updates to enhance user experience. New features include a drag-and-drop option for updating availability formulas in bulk, a hide availability function, multi-selection for weekends, property-level yield based on inventory, a master room type link, and enhancements to the Max V2 Matrix for revenue control. The Booking Engine now allows color customization of the WatchMyRate (WMR) comparison widget, displays up to five channels, and introduces a new 'Package View' for SwiftBook. Moreover, a counter is added for promo codes with a limit on booking numbers, configurable at both property and group levels. For properties offering day-use rates, new widget designs (Widget I and II) are provided, and a new Booking Engine Dashboard displays real-time visitor stats and other key performance metrics. The updates aim to improve the functionality and effectiveness of hospitality management before the start of 2025.

📱 Hostaway, a vacation rental software company, secured a $365 million investment led by General Atlantic with PSG Equity's participation. Since its 2015 founding by Marcus Räder, Saber Kordestanchi, and Mikko Nurminen, Hostaway has grown to manage properties in over 90 countries with a 230-employee remote workforce across 44 countries. It offers integrated property and channel management, AI tools, and automation, with over 200 marketplace partners. The investment will fuel further growth, AI development, and international expansion, especially in France, Italy, and Spain. The short-term rental market is a $133 billion GMV sector, growing at a 12% CAGR, with Hostaway positioned as a market leader. William Blair and Cambon Partners were financial advisors for the deal.

🏠 Hilton opened Canopy by Hilton Sioux Falls Downtown in South Dakota, the state's first Canopy by Hilton and Hilton's first lifestyle hotel in Sioux Falls. The riverfront property features 216 guestrooms and suites, two culinary outlets, a fitness center, and nearly 20,000 square feet of event space. Located near Falls Park, Levitt Outdoor Amphitheater, and Sioux Falls Regional Airport, it provides access to downtown attractions. Rooms range from 350 to 820 square feet, include sustainable amenities and local art, and offer views of Steel District, City, and Falls Park. The hotel also offers local culinary experiences, an Evening Tasting program, and complimentary Canopy bikes. It's part of the Hilton Honors loyalty program.

📡 Steve Singh, Executive Chairman of Spotnana, criticizes Online Booking Tools (OBTs) for being antiquated and not keeping pace with technological advancements. Google’s Project Mariner, an AI model named Gemini 2.0, emerges as a game-changer, capable of handling travel arrangements autonomously. The article suggests that OBTs may become obsolete within five to seven years if they do not evolve. AI tools offer efficiencies, but Travel Management Companies (TMCs) must adapt, focusing on personalized services and leveraging AI to enhance their offerings.

📌 Hostaway, a vacation rental software and management system, has received a $365 million investment led by General Atlantic with PSG Equity also participating. Founded in 2015, Hostaway operates in over 90 countries with a fully remote team of over 230 employees from 44 countries. The company has partnerships with top travel agencies including Airbnb, VRBO, Booking.com, and has recently launched Dynamic Pricing, Hostaway Capital, Hostaway Insurance, and Smart Lock integrations. The short-term rental market is valued at $133 billion and has grown at 12% CAGR over the last decade. Hostaway plans to use the funds for international expansion, product development, and AI initiatives.

📌 Hostaway, a vacation rental software provider, has landed a $365 million strategic growth investment led by General Atlantic with PSG Equity participating. The company, founded in 2015, boasts over 200 marketplace partners, clients in 90+ countries, and a remote workforce of 230+ employees across 44 countries. The investment will support international expansion, product development, and AI initiatives. Hostaway has tripled in growth since PSG Equity's backing in 2023 and plans to expand in markets like France, Spain, and Italy. The short-term rental sector is valued at $133 billion, with a 12% CAGR over the last decade. General Atlantic and PSG Equity will become significant minority shareholders post-deal, marking the largest transaction in Hostaway's market segment.

📱 The Advantage Travel Partnership launched a marketing campaign using AI-generated images from December 28 to February 28 to promote travel bookings. The campaign, tagged #ThatJustBookedFeeling, offers members customizable marketing assets and a chance for customers to win a £5,000 family holiday from easyJet holidays. The innovative use of AI highlights the consortium's modern approach and distinguishes them from competitors. The initiative aims to inspire bookings and foster long-term growth among travel agents.

🚀 HBX Group launched an AI solution for training customer service agents, simulating conversations in 13 languages across hundreds of scenarios, with four difficulty levels. The system enhances training efficiency, requires less trainer supervision, and aims to improve customer experience. HBX Group seeks to expand this technology to other areas in the traveltech sector.