Good morning from Skift. It’s Thursday, May 23. Here’s what you need to know about the business of travel today.
03.05.2024 - 14:47 / skift.com / Dennis Schaal / Rashaad Jorden / Sean Oneill / Glenn Fogel / Jane Alexander / Ariane Gorin
Good morning from Skift. It’s Friday, May 3. Here’s what you need to know about the business of travel today.
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Expedia Group has trimmed its 2024 outlook for growth due to its vacation rental brand Vrbo’s slower-than-expected recovery, reports Senior Hospitality Editor Sean O’Neill.
O’Neill reports Expedia Group’s first-quarter profit margins were mostly in line with last year. But the company acknowledged that the struggles of Vrbo and Hotels.com drove it to lower its full-year guidance. A tech migration that brought together all of Expedia Group’s major brands hasn’t yet paid off.
In addition, incoming CEO Ariane Gorin said changes to Hotels.com’s loyalty program contributed to the brand’s sluggish performance.
Next, one of Booking Holdings’ big goals is selling “connected trips,” where travelers book, for example, a flight, accommodation and attraction. Booking Holdings executives say they’ve seen modest growth in these “connected transactions,” reports Executive Editor Dennis Schaal.
CEO Glenn Fogel said during its first-quarter earnings call that those connected transactions rose over 50% from last year, albeit off a low base Fogel added that the company has seen strong growth in the sales of attractions and rental cars as part of connected transactions.
However, Schaal writes Booking Holdings’ goal of a connected trip won’t become reality in the next few years — if it ever does. More than 90% of travelers use Booking Holdings platforms solely to book a flight, car rental, attraction or accommodation.
Finally, a bipartisan group of U.S. Senators is calling for the restriction of facial recognition at U.S. airports, writes Global Tourism Reporter Dawit Habtemariam.
A letter to the Senate leadership said that the biometric technology commonly used at airports poses a significant threat to civil liberties. More than 80 U.S. airports use the technology with plans to expand to more than 400. The senators want to add restrictions on biometric technology to the bill that would authorize funding for the Federal Aviation Administration.
However, the U.S. Travel Association has come out in favor of expanded facial recognition.
Producer/Presenter: Jane Alexander
Good morning from Skift. It’s Thursday, May 23. Here’s what you need to know about the business of travel today.
Good morning from Skift. It’s Tuesday, May 21. Here’s what you need to know about the business of travel today.
Minor Hotels reported first-quarter results, reaffirming its plans to add 200 hotels worldwide by the end of 2026 — a 36% increase in its portfolio.
Marriott and Hilton appear to be neck-and-neck in the race to expand their footprints and loyalty programs. But if you look at the more important metric of fees earned for services they provided hotel owners, you’ll see Marriott far ahead.
The recent earnings seasons provided a glimpse into how the largest publicly traded travel companies are faring.
One week after Ariane Gorin took over as the new CEO of Expedia Group, the company issued a statement Friday that Chief Technology Officer Rathi Murthy, and Sreenivas Rachamadugu, senior vice president, core services product & engineering, are no longer working at the company.
Chase cardholders can book Southwest Airlines flights through the Chase Travel portal, and that’s a rarity for leisure travelers.
With TikTok facing a potential U.S. ban, Expedia Group has introduced Travel Shops, a way for influencers and other content creators to earn commissions when travelers book their recommended hotels.
Expedia Group’s Explore 24 partner meeting in Las Vegas this week has had plenty of news announcements about AI and advertising initiatives. But the women in leadership stood out.
Ariane Gorin’s first day as Expedia Group CEO was Monday, and she has moved to the home base in Seattle after living in London and Paris for the past 23 years.
The European Commission said on Monday it had designated Booking.com’s parent company, Booking Holdings, as having “gatekeeper” regulatory status under the European Union’s Digital Markets Act. The move came as part of a broader effort to rein in tech giants such as Google and Apple.
Expedia Group’s Peter Kern is handing off the CEO title to Ariane Gorin on May 13 as the company’s annual partner conference is about to kick off in Las Vegas.