Innovation

🏠 Travel Tech Association sponsors the newsletter discussing scarcity in customer behavior and startups seeking product-market fit. The Travel Tech's Passport Newsletter, delivered every Wednesday, offers news on travel, technology, and policy for industry leaders. The most clicked link in the previous newsletter was an AI-generated deep-dive podcast on Travel Tech Essentialist. The travel experience market, valued over $1 trillion with $250-310 billion in structured activities, presents digital growth opportunities. GetYourGuide partners with the Brooklyn Nets to offer exclusive experiences, tapping into the sports tourism market, valued at more than $500 billion. Andrew Chen advises startups on common pivots that don't work and suggests focusing on specific user segments that love the product. Air France plans to introduce Starlink's high-speed Wi-Fi starting summer 2025, joining other airlines with over 2,500 aircraft offering this service. Sales & Business Development roles account for 24% of job applications on the Travel Tech Essentialist Job Board, with Marketing & Communications at 15% and Product roles at 13%. Amsterdam-based Mews raises $100 million led by Vista Credit Partners, while Berlin-based Distribusion secures an $80 million Series C round.

🏝 Mandarin Oriental Hotel Group announces the opening of Mandarin Oriental Kanai, Riviera Maya in 2028, located on Mexico's Yucatan Peninsula. The resort will feature 120 rooms and suites with private pools, 50 residences, a spa, three pools, a beach club, dining venues, a kid’s club, and event spaces. The property is designed by Migdal Arquitectos and William Gray, with art curated by Bosco Sodi. GIM Desarrollos is developing the resort, set within a jungle and mangrove reserve with 9% land coverage for buildings and roads. Mandarin Oriental has 41 hotels and 12 residences in 26 countries. 🏨 Highgate rebrands four hotels in Algarve, Portugal under the Marriott International brand, with renovations starting later this year and opening scheduled for 2025. 🏗️ Ciel, Vignette Collection in Dubai aims to be the tallest hotel tower globally by 2025, with over 80 floors, 1,000 rooms, and features including restaurants, infinity pool, and an observation bar. IHG operates 117 hotels in the Middle East, with 83 in the pipeline. 💰 Turneo raises €2 million in seed funding to expand and enhance its AI-driven experiential hospitality platform, with plans to establish partnerships with global hoteliers.

🏢 Internships or entry-level positions in real estate firms, banks, or financial institutions provide practical experience in property valuation, risk assessment, and investment analysis. Developing analytical skills is crucial for evaluating real estate investments, involving financial modeling and understanding metrics like net present value and internal rate of return. Networking through professional associations, staying updated on regulations and trends, utilizing technology and financial tools, building a strategic mindset, and seeking mentorship are key recommendations for success in real estate financing.

🏨 Hotel execs and industry experts discuss the potential impact of generative AI at the Destination AI summit in Washington, D.C. Hilton's SVP Jess Petitt highlights that AI's current role in hotel bookings is minimal but expects a significant change within five years. Concerns are raised about tech giants like Apple using AI to provide personalized travel recommendations, possibly challenging online travel agencies (OTAs) and hotels by leveraging personal data. Banks with travel credit cards may also disrupt the market using customer spending data. Some envision an internet where consumers control their data, sharing it selectively via digital wallets to enhance travel experiences. Hoteliers like Petitt are wary of potential middleman fees in future AI interactions. The Skift Travel 200 (ST200) tracks financial performance of travel companies, including the accommodations sector, with an aim to provide a comprehensive overview.

🌍 Snowflake launched AI Data Cloud for Travel and Hospitality, enhancing data insights for the industry. Focusing on dynamic pricing, sustainability tracking, and developer efficiencies, it aims to bolster success in the competitive sector. Snowflake’s platform is utilized by major businesses like Hyatt and Tripadvisor to improve decision-making and guest experiences. The new system fosters data-driven innovation, operational excellence, and secure data sharing for collaboration in the travel industry.

💸 Cheshire-based Inspire Group expanded across Europe with transactional website platforms in Germany, France, Poland, Spain, and Italy to support rising sales of TravelCard by Inspire. These platforms are localized in language and currency, offering holidays from local airports with attractive deals tailored to each market. The growth in TravelCard sales is attributed to its popularity as a corporate reward and recognition tool, with no booking restrictions, and the ability to stack cards for bookings. Inspire ensures 100% financial protection for its cardholders through an independent trust account model.

😷 Payne from Pure Wellness notes a shift in the hospitality industry towards better sanitization due to the pandemic, with a focus on air quality. Pure Wellness offers a seven-step process including air purifiers. They recommend DFS technology for 99.97% filtration efficiency at 0.3 microns. Innovations include water filtration with Vitamin C & E, allergy-friendly mattress encasements, and sanitary check-in procedures with antimicrobial keycards and contactless options. Hotels can create wellness rooms on separate floors for additional revenue.

📊 eviivo launched a Custom Report Writer for its Property Management Software (PMS), offering over 130 data fields for customized analytics reports on bookings, room and property info, financials, guest data, fees, payments, and OTA payouts. Designed for ease of use with a drag-and-drop interface, it caters to diverse hotels and short-term rental portfolios, aiding in decision-making, accounting, legal compliance, and strategic planning without the need for IT or analysts. The suite is used by 27,000+ hospitality businesses worldwide.

📈 eviivo, a Property Management Software (PMS) provider, launched a Custom Report Writer for tailored analytics from eviivo Suite data. The tool allows over 130 data fields to be used for custom reports on bookings, finances, and guest info, among others. This feature provides deep insights for operational efficiency, legal compliance, and revenue optimization. It includes user-friendly drag-and-drop interface and real-time data filtering, streamlining property management for over 27,000 global hospitality businesses.

📊 eviivo, a Property Management Software provider, has launched a Custom Report Writer for property managers, offering over 130 data fields and extensive customization. This feature allows for tailored reports on bookings, financials, guest info, and OTA payouts. The drag-and-drop interface enables quick creation of detailed reports that support decision-making in revenue generation, investment, and operational efficiency. eviivo Suite is trusted by over 27,000 hospitality businesses globally for its integrated platform capabilities.