TOP NEWS

🌎 Minor Hotels Europe & Americas, with over a decade of sustainability efforts, partners with Deepki to reach net zero. Committed to a 46.2% reduction in scope 1 and 2 emissions by 2030 (from 2019 levels) and a 90% reduction company-wide by 2050, the targets are SBTi-approved. Utilizing Deepki’s platform, the Group tracks over 350 buildings in 30+ countries, aiming for 100% data coverage for energy and environmental KPIs, with automated data collection to improve energy efficiency and reduce carbon footprint.

🏡 Minor Hotels Europe & Americas partners with Deepki for ESG efforts, targeting a 46.2% reduction in scope 1 and 2 greenhouse gas emissions by 2030 from 2019 levels, and a 90% reduction in emissions by 2050 to achieve net zero company-wide. The goals are SBTi approved. Deepki's platform aids in tracking, monitoring, defining energy efficiency measures, and measuring impacts for over 350 buildings across 30+ countries. The aim is 100% data coverage for environmental performance and harmonization via technology and digitization.

📌 Peachtree Group acquired its sixth hotel of the year, the AC Hotel by Marriott in Park City, Utah, amidst a transaction slowdown due to high interest rates and economic challenges. The company has bought 789 rooms across six hotels, including brands like Hilton and Marriott, expanding its management portfolio to 93 hotels with 11,837 rooms across 27 brands in 26 states. Key acquisitions also include properties in Florida, New Jersey, Virginia, Georgia, and Colorado. Peachtree anticipates increased market activity into 2025 and capitalizes on opportunities due to the narrowing bid-ask gap.

🏨 In the competitive hotel industry, A/B testing on hotel websites can enhance user experience and increase direct bookings. Testing elements like the booking engine, CTAs, and landing pages can reveal insights into customer preferences and behavior. Personalization through A/B testing offers tailored content and can reduce bounce rates, leading to higher engagement and conversion rates. With today's technology, experiments are easy to initiate without coding knowledge, allowing hoteliers to swiftly optimize their websites for better performance on their direct channels.

🏠 In Paris, Airbnb listings nearly tripled during the Olympics, but a post-mortem analysis by Lighthouse and Shiji Reviewpro revealed hotels remained half-empty due to inflated rates and increased supply not accounted for in pricing strategies. Expedia Group launched Travel Shops, allowing influencers to monetize hotel endorsements by integrating social content with direct booking. While AI is becoming integral in travel, akin to online shopping's rise, its full acceptance in holiday planning remains cautious. Marketing's obsession with being different is contested, emphasizing the need for customer reassurance over uniqueness.

👨 In the hospitality industry, hotels are leveraging technology and data analytics to stay ahead of guest expectations. A study shows 78% of travelers consult online reviews, and implementing AI can increase customer satisfaction by 40%. Responding to over 50% of reviews can boost average review scores by 6%. Personalized experiences are key, as tailored services based on feedback can enhance guest loyalty and revenue. The industry has evolved with guest preferences and technological advancements, making anticipation of guest needs and customization crucial for hotelier success.

📌 A study by Agilysys shows 68% of APAC travelers willing to increase hotel spending for personalized experiences, 73% would pay up to 30% more for room upgrades post-booking. 66% are likely to spend more with reduced wait times, 68% with good loyalty programs. High satisfaction (86%) yet only 37% would rebook, indicating the need for memorable experiences. Key spending drivers: 46% appreciate extra-mile staff efforts, 41% personalized activity recommendations, 30% staff recall of conversations. Personal touches, like preferred rooms, remembered restaurant preferences, and small surprises, impact spending. The survey included over 1,000 travelers from Australia, Hong Kong, New Zealand, and Singapore, emphasizing RevPAG over RevPAR for capturing guest spending.

📝 The article discusses the importance of control in user experiences, with examples from travel AI and a restaurant game. Propellic sponsors the newsletter and offers marketing insights for travel marketers. Ahref’s travel SEO guide was the most clicked link in the previous newsletter (#154). Google’s NotebookLM is used to create a podcast-like audio from the Travel Tech Essentialist Newsletter. Rex Woodbury's Egg Theory proposes that AI should balance automation with user contribution. Alex Kremer applies Egg Theory to travel AI, emphasizing user involvement. Personalized Google Docs and Maps are becoming popular travel guides. B2B purchasing decisions are driven by fear, favoring incumbents over startups. Andreessen Horowitz's SPEEDRUN program plans to invest $23 million in seed startups. B2B travel tech startups are modernizing hotel technology stacks. A dice roll promotion at Dishoom restaurant increases customer engagement and sharing on social media. Brands communicate distinct messages, impacting user perception. U.S. VC-backed companies saw a decade-high in flat and down funding rounds in the first half of 2024. The article concludes with a list of job openings in the travel tech industry.

📌 In Parsippany, New Jersey, Super 8 by Wyndham introduces the INNOV8TE 2.0 design package, available across the US and Canada, as part of its 50th anniversary. Mike Mueller, president of Super 8, emphasizes the brand's innovation and owner-centric approach. The upgrade features new color schemes, furniture, bedding, and flooring, aiming to enhance guest experience and operational efficiency. Options allow for full room upgrades or gradual improvements, with support through Wyndham’s Manufacturer Direct program or traditional renovation. Unveiled in September 2023 at Wyndham’s Global Conference in Anaheim, California, INNOV8TE 2.0 is now accessible to owners.

📈 Thayer Ventures and Derive Ventures form Thayer Investment Partners (TIP) in San Francisco. Chris Hemmeter, Tyler Carrico, and Mike Scott lead as managing partners, leveraging experience in hospitality start-ups. TIP to launch a new fund soon, building on Thayer Ventures' foundation since 2009 and Derive's 2022 inception, aiming to innovate in travel tech and boost industry efficiency. Lee Pillsbury, Thayer Lodging Group founder sold to Brookfield in 2014, continues as Thayer Ventures Funds managing director.