Travel Technology tips

InterContinental Hotels Group (IHG) reported earnings Tuesday, and said it isn’t seeing signs of demand weakness outside of China.

Brad Gerstner founded Altimeter Capital in 2008, and his first trade was for Priceline at $50 per share. Now known as Booking Holdings, the company trades at around $3,440, and has a market cap of $115 billion.

The first half of August saw three of the biggest travel startup fundraises of the year: Flyr ($295 million), Archer Aviation ($230 million), and Oyo ($173 million).

This month, an 11-year-old startup called Flyr raised the largest single round of venture capital for a travel tech company in years: A total package of nearly $300 million. 

Archer Aviation has now raised over $1.3 billion and has buy-in from auto manufacturer Stellantis, United Airlines, Southwest Airlines, and more.

While Taylor Swift continues to captivate the world with her sold-out performances and undeniable talent, a comprehensive analysis by The Data Appeal Company - part of Almawave Group , reveals that other major musical events are making significant contributions to local economies and the international tourism landscape in 2024. This analysis of three prominent events highlights the music industry’s broad impact, showing how hosting such events attracts visitors, boosts local businesses and the hospitality industry, and creates a positive feedback loop through social media promotion.

Four travel startups raised nearly $240 million this week, but one raise accounted for the vast majority of that.

Wyndham Hotels & Resorts said Thursday that its recent technology investments have helped keep profits flowing to the bottom line, even as traveler demand for the hotel group’s core economy segment moderates.

The share of hotels sold via the direct channel in Spain increased by an average of 18% during the summer of 2024 over other channels thanks to the determination of the hoteliers to improve the profitability of the hotels again, according to data from Mirai. Although during the initial weeks of the UEFA Euro Cup 2024 sales growth slowed down, probably also due to the bad weather in Spain, in the last few days the company has observed that growth is picking up again. This rebound suggests a potentially very positive last-minute booking trend in most tourist destinations.

Short-term rental platforms have not been raising money in 2024 quite as often as last year. But they made a bit of a comeback this week with two niche platforms getting nearly $50 million in funding. 

As the high season kicks off in northern hemisphere tourism destinations, TourReview, the leading review platform for tours and activities, has conducted an in-depth analysis of the latest trends in the sector. This summer promises to be slightly different from the last, as American and Asian tourists begin to fly long haul again, introducing new dynamics to the market.

Dubai-based Lokalee, an AI-powered content platform for hotels and holiday homes, has entered a partnership with Viator, the world’s largest travel experiences marketplace. The partnership will enable Lokalee’s hotel and holiday home customers to offer their guests access to Viator’s extensive catalogue of global tours, activities, and excursions.

A dozen companies involved in the travel industry raised at least $100 million during the first half of 2024. In the same time period last year, there were only two that raised so much.

Which fan groups will have the most chances of travelling to the UEFA Euro 2024 final, next Sunday, July 14 in Berlin? Mabrian, the global travel intelligence platform, part of The Data Appeal company, analyses the evolution of airfares for this major sports event and concludes that Spanish and Turkish fans will have an easier time flying to Berlin, with one-way tickets of around 135 euros. The anticipation for the UEFA Euro 2024 final is beyond the stadiums: Mabrian’s data intelligence shows how this sporting passion reflects in the preparations to travel to Berlin from several European countries to enjoy grand final match. But the costs will not be the same, and this may determine the size of the fandom from each country who will cheer on their teams in the last match.

Freedomverse, the innovative Web3 builder behind the Freedom World application, is proud to announce a strategic partnership with the Tourism Authority of Thailand (TAT) under the campaign “Discover Thailand by Amazing Thailand x Freedom World.”  Introducing the groundbreaking Freedom World mobile application designed to enhance community-driven experiences with Web3 technology.

Accor said Wednesday it’s hiring Amadeus to install a new central reservation system across its global portfolio of 5,600 properties. The Paris-based hotel group aims to boost revenues, optimize hotel distribution, and deliver personalized guest experiences.

Chris Hemmeter, managing director at Thayer Ventures, and Kurien Jacob, partner and managing director, Highgate Technology Ventures, spoke Tuesday at Skift’s Data+AI Summit. One theme: How hotel tech needs to evolve.

Ahead of Phocuswright Europe in Barcelona on June 10-12 and on the heels of what PhocusWire editors are calling “easily the biggest week so far for generative artificial intelligence” in travel, travel leaders have shared their thoughts about how artificial intelligence has impacted the travel experience so far – and where they think it’s headed in the future.

Today the respected Turkish destination in-bound tour operator Yuppi Group has announced the successful launch of a B2B accommodation booking platform called Pax2Night.

Travel & tourism experts from across the industry convened at the Arabian Travel Market (ATM) 2024 Future Stage this morning to discuss the complexities of navigating the transformation of hospitality.

New federal rules around airline junk fees and refunds are meant to protect consumers but they overlook the logistics of making it happen, according to Laura Chadwick, president and CEO of the Travel Technology Association.