TOP NEWS

💸 Bounce.com, a US travel company and global luggage storage network, secured $19 million in Series B funding, led by Sapphire Sport with participants like Thayer Ventures and Andreessen Horowitz. With over 6 million bags stored and generating tens of millions of dollars for partners, Bounce aims to expand, including growing its UK network of over 670 partners. Since its Series A in 2022, the company's revenue surged 20x, and plans include new verticals and services by 2025.

🌍 Marriott Bonvoy’s report forecasts leisure travel growth in 2025: 42% of travelers aim for more holidays compared to 2024, 81% expect to maintain or increase travel frequency. The average plan includes 2 domestic, 2 short-haul, and 1 long-haul holidays. Heritage Holidays gain popularity with 36% having taken one; 32% planning one. Bravecations emerge as 67% feel braver while traveling, with 44% trying new foods and 43% climbing heights. AI usage in travel planning jumps from 26% to 41% in just a year. Cleanliness (95%), price (92%), and location (91%) dominate accommodation preferences, while sustainability is important for 65%. Special pricing is the top booking incentive at 52%. Shoulder season travel is considered by 74% primarily for better value.

🏆 The Altos, an award ceremony by AltoVita, set for its fifth year on December 2 in London at the Ham Yard Hotel. Categories include Best Interior Design and Most Innovative Use of Technology. Industry leaders from Rotana and NBC Universal will discuss hospitality trends and safety. The event starts at 3pm with discussions, followed by an award ceremony at 6pm and an after-party until 10pm. Free tickets are available for hospitality operators.

🏠 Web Summit, the world's largest tech conference as per TIME, hosted 71,528 attendees and sold out. The event showcased 3,050 exhibiting companies, with women representing 44% of these - a record high. It featured major tech players like IBM, Adobe, and Meta, and included key speakers such as Pharrell Williams and Microsoft's president Brad Smith. The conference, with 1,066 investors and 953 speakers, had after-hours networking at 100 city bars over two nights.

🏖 Quantum Metric reports 45% of Brits visit travel websites 2-3 times before purchase, with 50% preferring year-round discounts over traditional sales like Black Friday. Only 14% wait for Cyber Monday or Travel Tuesday for Christmas 2024 travel bookings. By October, 22% have booked half their holiday travel, as digital leaders note peak seasons starting earlier and becoming less defined. Travel sector's average order value dropped 30% between July and September, underlining the need for seamless digital experiences and continuous optimization.

📊 In the hospitality industry, integrating revenue management with sales and marketing can significantly increase a hotel's profitability. Online visibility, driven by reviews and ratings, heavily influences hotel bookings. 81% of consumers trust reviews for purchase decisions. Franco Grasso Revenue Team found that a strong brand reputation through ratings above nine on Booking or 4.5 on TripAdvisor could allow a 3-star hotel to charge $1000 or more per night during peak times. Ancillary revenue from services like parking and breakfast can also enhance brand reputation. By segmenting customers and offering tailored promotions, hotels can optimize rates and prevent revenue loss from spillage (selling too low) and spoilage (unsold inventory). Effective revenue management, coupled with a solid brand reputation, leads to sustainable growth and profitability.

📌 Dallas, Texas—U.S. hotel performance is projected to improve in Q4 2024 and continue into 2025 with a 0.5% increase in RevPAR growth, despite a downward revision from 1.2%. Occupancy is expected to decrease by 30 bps year-over-year while ADR is forecasted to rise by 0.7%. Q3 2024 saw a 0.1% dip in hotel demand, a 0.6% increase in supply, and a 0.8% decline in occupancy. CBRE predicts a 1% compound annual growth in supply over five years, below the 1.6% historical average, alongside a 2.6% GDP growth and 2.9% average inflation for 2024.

🏩 Wellness tourism's growth has led to an increased demand for hotels with authentic wellness experiences. Sam Nazarian and Tony Robbins recently launched longevity clubs and hotels aiming to redefine wellness through life extension and holistic health practices. Wellness certification acts as third-party validation, ensuring hotels meet rigorous, evidence-based wellness standards. It represents operational excellence, credibility, and guest satisfaction. Robin Ruiz, CEO of WITT, emphasizes that wellness accreditation will be key in guiding travelers through the evolving hospitality landscape.

📍 In Dallas, Texas, SiteMinder released its "Changing Traveler Report 2025" showing 37% of U.S. travelers plan to book their 2025 stays directly, surpassing the global average of 27%. Travelers aged 60+ may reach 57%. Surveyed 12,000 respondents across 14 markets, U.S. direct bookings outdo Australia (35%) and Germany (33%), while Indonesia (16.5%) and China (17%) lag. 33% of U.S. travelers prioritize loyalty incentives, 9 points above global average. In 2025, 51% of U.S. respondents plan to travel abroad, up from 43% in 2024 with Gen Z's international travel intention at 73%. Canada emerges as the top destination (10%). Gen Z's trends include more spending on accommodation (69%), work-from-stay (59%), and eco-friendly preferences (87%).