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On-Demand Media a Major 2016 Hospitality Trend

According to Skift’s Megatrends Defining Travel in 2016 report, on-demand media is one of the top desires of today’s travelers. Skift experts found that it is much easier to deliver on-demand capabilities by partnering with existing services, rather than trying to create their own competition. The report outlines how hoteliers can equip their properties with the proper infrastructure and partner with the right external providers to best serve their guests. To read more, click here.

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Hotel Outlook for 2016 Welcomes Innovation

The growth trajectory for the global hospitality industry in 2016 and beyond is deeply rooted in innovation, investment discipline, and organizational culture, according to EY’s Global Hospitality Insights report. To keep up the pace, industry participants will need to react to changing market forces, find opportunity in disruption, and actively engage employees and stakeholders for the cycle ahead, EY writes. From the continued acceleration in global hotel investment to an expected increase in cross-border capital flow from Asia, EY offers top 10 thoughts for the coming year. To read more, click here.

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Concern for Global Banks Grows

The Volatility Index (Vix) jumped 12 percent yesterday to 26, only slightly above the long-term average of 20, reflecting the fear rising on Wall Street. As investors find safe haven for their money, plenty are worried about the world’s biggest banks, citing their vulnerability to the primary drivers of the current market volatility. According to Reuters, fears about the health of the world’s banks continue to drag stocks down in Asia and Europe, while Citigroup’s stock is down by more than a fourth so far this year. The share declines indicate investor skepticism over big banks’ future profits, due to ultralow interest rates around the world and to the risk of defaults in the energy sector. The pessimism may be unfounded given how much stronger banks are now than they were during the financial crisis in 2008, and the general health of the U.S. economy verses the rest of the world. But all signs point to banks getting more risk averse, which spells trouble for the businesses that depend on them. To read more, click here.

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Airbnb Doesn’t Even Dent Manhattan Hotel Performance

A recent analysis of Airbnb data by STR found that in one of the busiest metropolitan areas on the planet—Manhattan—Airbnb unit sales do not affect hotel performance. The analysis cites several reasons behind this finding, including that hotel rooms outnumber Airbnb units ten-to-one and Airbnb does not undermine hotel pricing power. Additionally, Airbnb units skew lower in the chain scale than most hotels, as nearly two-thirds of all Airbnb rentals are considered “midscale” or “economy.” To read more of the analysis, click here.

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GBTA: Business Travel Solid After Paris Attacks

Business travel is showing increased levels of resiliency since the immediate aftermath of the Paris terrorist attacks. According to new polls from the Global Business Travel Association, more than 90 percent of U.S. and European business travel buyers now report that their company’s travel to and within Europe has remained largely unaffected by the attacks. Business travel buyers are taking steps to improve communication and enhance the safety and security of travelers. Read more here.

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