Las Vegas Sands Corp reported better-than-expected profit and revenue for the third quarter on Wednesday, as ongoing ramp up of outbound tourism to Macau and Singapore spurred gaming volumes and retail sales.
Airbnb and Hotels' Impending Fight Over Customers
03.10.2023 - 08:27 / skift.com / Brian Chesky / Rashaad Jorden / Sean Oneill
Good morning from Skift. It’s Tuesday, October 3. Here’s what you need to know about the business of travel today.
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Executives speaking at the recent Skift Global Forum said hotel operators and short-term rental managers are not fighting for the same customers. However, hotel owners and Airbnb both have growth ambitions that could lead to more competition, reports Senior Hospitality Editor Sean O’Neill.
The heads of both Hilton and Airbnb said at the Forum that lodging isn’t a winner-take-all market but one in which multiple companies can coexist. Airbnb CEO Brian Chesky added the overlap between hotels and Airbnb is smaller than most people realize.
But, O’Neill writes the future of lodging will probably see hotels and short-term rental providers increasingly go after the same travelers. While Chesky argued hotels don’t serve people seeking extended stays well, O’Neill notes hotels are increasing extended-stay options. Nearly a third of the construction pipeline for hotels in the U.S. is extended-stay projects, according to industry advisory firm Lodging Econometrics.
Next, Marriott recently gave a 144-slide presentation to analysts documenting its strategy for years to come. So what were the highlights? Senior Hospitality Editor O’Neill provides analysis of the five most eye-catching sides.
O’Neill reports Marriott has plans to grow its footprint, including adding about 40,000 net rooms over the next three years. The world’s largest hotel company is also looking to expand outside of North America. Close to 40% of its current rooms are outside of the U.S. and Canada.
In addition, Marriott has seen its non-room revenue rise significantly in recent years. Roughly 20% of Marriott’s total fee revenue comes from sources other than traditional room bookings. That figure was only 5% about a decade-and-a half ago.
Finally, Japan Airlines has substantially upgraded its business and first class cabins as it prepares the Airbus A350-1000 to be its flagship long-haul aircraft, writes Reporter Ajay Awatney.
Japan Airlines will add doors to both business and first class cabins. The company will also introduce industry-first features, such as large partitions in its premium economy seating. It’s part of Japan Airlines’ strategy to help improve privacy for travelers. The A350-1000 will start flying on the Tokyo-Haneda to JFK Airport route by the end of 2023.
The website maxtravelz.com is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.
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