A Swedish town is trying to attract more residents by selling land for just 1 krona (€0.08) per square metre.
21.06.2024 - 10:03 / skift.com / Dennis Schaal / Rashaad Jorden / Jane Alexander
Good morning from Skift. It’s Friday, June 21, 2024, and here’s what you need to know about the business of travel today.
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Venture capital investment in the travel industry hit its lowest level in a decade in 2023, one finding from a new Skift Research report examining the state of venture capital investment in travel.
The travel industry had only $2.9 billion of venture capital investment in 2023, compared to nearly $9 billion in 2019. Senior Research Analyst Pravani Agarwal also notes the number of deals last year in the travel industry dropped more than 20% from the previous year. That’s the second steepest since the start of the pandemic.
But while the trend is for fewer deals, they are on pace to be of a larger average size than 2023. This should lead to an overall increase in travel VC funding in 2024, Agarwal writes. The growth areas are in tours and experiences, AI & automation and hospitality employment.
Next, starting July 1, Airbnb will display the total price before taxes of a stay in California to comply with the state’s new law banning junk fees, writes Executive Editor Dennis Schaal.
Those junk fees would include host cleaning fees and Airbnb’s service fee, for example. Schaal notes that a guest outside of California booking an Airbnb in the state won’t automatically see the total price unless they choose to view it. The short-term rental giant rolled out a total price toggle button across the U.S. in May 2023.
Finally, a growing number of corporate travel decision-makers are investing in artificial intelligence. Reporter Christina Sciaudone delves into how AI can solve problems in business travel.
A Mastercard survey found that 90% of travel decision-makers plan to invest in AI and machine learning to improve operations and personalize employee travel. Suzanne Neufang, the CEO of the Global Business Travel Association, said AI can help overcome the complexities of corporate travel.
FCM Travel, in particular, sees AI reshaping how it operates, including providing the company the opportunity to offer clients more personalized offerings.
Producer/Presenter: Jane Alexander
A Swedish town is trying to attract more residents by selling land for just 1 krona (€0.08) per square metre.
Good morning from Skift. It’s Friday, June 28, and here’s what you need to know about the business of travel today.
HomeToGo, the short-term rental price comparison business, plans to go a couple of steps further than Airbnb to comply with the California junk fee law that kicks in July 1.
Between January and May 2024, India has emerged as the second-largest international source market – not including Canada and Mexico – for tourism in the U.S., according to data released by the U.S. National Travel and Tourism Office (NTTO).
Nothing is more instructive than being wrong, and there’s no quicker way to be wrong than to have expectations. My arrival to Aktau, in Kazakhstan's Mangystau region, was by cargo ship, and over that 24-hour voyage, spent with long-haul truckers drinking duty-free whisky, I had plenty of time to imagine what awaited me on shore: a port city that was rough, brutalist, suspicious. At first sight, Aktau was brutalist, if only architecturally, but it was far from rough or suspicious. And while not beautiful, or even very pretty, there was something alluring about the place from the get-go.
The British Airways and British Airways Holidays summer sale has launched to brighten the mood and lift dampened spirits, forecasting blue skies and sandy toes for all those who book.
Delta Air Lines announced it would launch a new seasonal service between Orlando International Airport and London Heathrow Airport (LHR), starting on October 26.
On this episode of The Last Resort, host Christina Jelski talks to Brandon White, owner of Share the Magic Travel, to talk about his recent visit to the Sandals Saint Vincent and the Grenadines.
The 332 miles between London and Edinburgh show a particularly narrow difference when traveling via train or plane.
The UK economy is poised for a significant boost as fans prepare to spend big during the Summer of Sport. According to Experian Economics, the European Championships in Germany and the upcoming Paris Olympics are expected to drive an additional £233 million in spending over the next three months.
Skift Research’s latest report explores the state of venture capital investment in the travel industry. Below we present 5 key insights and takeaways.
People who visit Airbnb’s website and app in the U.S. first view the nightly rate and they can toggle to view the total price with all fees before taxes.