The State of Texas filed a lawsuit against Booking Holdings, alleging that it violates state law by marketing hotel rates in a deceptive manner because it doesn’t include a variety of fees when it initially displays room prices.
25.08.2023 - 14:42 / skift.com / Royal Air Maroc / Edward Russell / Justin Dawes
Good morning from Skift. It’s Thursday, November 3. Here’s what you need to know about the business of travel today.
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The post-pandemic consumer travel bug is still alive and well, leading to the highest amount of quarterly revenue ever for Booking Holdings.
And more of those bookings for the online travel giant are happening via Booking’s mobile apps than even before the pandemic, so the company plans to strengthen its investment in that tech to capture as many future bookings as possible.
Executives shared some of their plans during an earnings call Wednesday evening for Booking Holdings, an online travel agency that owns the brands Booking.com, Priceline, Agoda, Kayak and more, writes travel tech reporter Justin Dawes. Revenue for Booking Holdings last quarter was $6.1 billion, an increase of 29 percent year-over-year, while net income increased 117 percent to $1.7 billion.
Next, Rwanda-based airline RwandAir has a grand plan to take advantage of its central location in Africa to create a route network that serves multiple countries across the continent. But the plan remains on hold while the carrier waits for crucial investment from Qatar Airways. To learn more, Edward Russell, editor of Airline Weekly, a Skift brand, spoke on Wednesday with RwandAir CEO Yvonne Manzi Makolo while she was visiting Washington, D.C.
Speaking at a luncheon at the International Aviation Club, Makolo said that long-running talks for Qatar Airways to buy a 49 percent stake in state-owned RwandAir are still ongoing despite starting two years ago. She didn’t provide a timeline on when the companies would seal the deal. But Maokolo said the investment would spur her carrier’s growth by letting it add to its fleet of a dozen planes. Africa’s largest airlines today, such as Ethiopian Airlines, Kenya Airways, and Royal Air Maroc, all operate hubs that are poorly located for pan-Africa connectivity.
Finally, it turns out that demand for virtual experiences is thriving even as in-person travel returns. Back in 2020, a few travel companies offered virtual tours to survive the pandemic, but many have sunsetted those products since then. Yet Travel Tech Reporter Justin Dawes found a handful of online tour businesses that have stuck with a virtual product.
One company called Beeyonder hires guides to provide live virtual tours on demand. The Boston-based company has found steady clients with particular audiences, such as senior living communities. CEO Brittany Palmer said her company’s third quarter was 12 times bigger than a year ago despite the broader return to in-person travel.
Other brands such as Our Travel Circle and Heygo, said they have continued to see virtual tours
The State of Texas filed a lawsuit against Booking Holdings, alleging that it violates state law by marketing hotel rates in a deceptive manner because it doesn’t include a variety of fees when it initially displays room prices.
The short booking travel booking windows that became the predominant mode of booking in the pandemic — for obvious reasons with lots of uncertainty around Covid & travel plan — are holding strong and in fact increasing in the 0-21 days window, according to the latest quarterly data from Expedia Media Solutions.
Hospitality company Sonder Holdings said that it has been investigating a data breach involving unauthorized access to some guest records.
The Walt Disney Corporation announced on Tuesday during its fourth quarter earnings call that its theme park division generated $7.42 billion worth of revenue, a division record and a 36 percent increase from the same period last year.
Airbnb Posts Best Quarter Yet on Relentless Travel Demand: Airbnb CEO Brian Chesky says his company can thrive in boom and bust cycles if it keeps innovating. To meet that promise, his company will have to boost its pricing competitiveness and makes it easier for individuals to list properties. And make the case to Wall Street on unfair comparisons to 2021.
Ryanair on Monday posted its largest ever after-tax profit for its key summer season and said it expected very strong passenger and fare growth for years to come as customers switch from higher-cost rivals.
In Skift Research’s latest report check in on the current state of Expedia Group and Booking Holdings, the big two online travel agencies in the U.S. and Europe, as they recover from the Covid-19 pandemic.
At various junctures during the pandemic, Booking Holdings faced difficulties because of the weakness of the euro and China’s shuttered borders but now stands to make strides because of favorable foreign exchange trends and China’s travel reopening.
Booking Holdings has an answer to critics, who over the last few years mused that its best days were behind it, and that online travel agencies generally would be hard-pressed to rekindle the growth of yesteryear.
Indian Hotels Company (IHCL) plans to reach a portfolio of 300 hotels by 2025, it said on Tuesday when reporting its earnings.
Marriott International ended 2022 with a robust performance thanks to the post-pandemic resurgence in travel, the company said on Tuesday. It enjoyed record fourth-quarter average room rates, profit at its managed hotels, hotel development plans, and sign-ups for its co-branded credit cards.
Booking Holdings officials have spoken for years about their aim to take market share in rival Expedia Group’s stronghold, namely the U.S., and Booking appears to be delivering on that goal.