GBTA and Cvent Study Finds an Opportunity for Tech Integration to Transform Business Travel
Category: Featured, Industry News, Trends & Research
ALEXANDRIA, Virginia—The Global Business Travel Association (GBTA) and Cvent released a new study titled, “The Future Is Now: Technology Transformation in Corporate Travel.” According to the study, the industry is poised to allow technology to transform and accelerate business travel. Based on a survey of business travel professionals in North America and Europe, the report reveals that while 88 percent of travel management company respondents, 74 percent of suppliers, and 59 percent of travel buyers
RICHARDSON, Texas—Visual Matrix increased the growth of its MOP technology by 440 percent since Visual Matrix acquired the technology in November 2021. MOP is now used at more than 1,000 hotels representing 33 brands in the industry, including Wyndham, Hilton, Marriott, IHG, and more. “MOP was designed to help hoteliers overcome the many operating challenges they face today, in addition to the crunch of reduced labor,” said Georgine Muntz, CEO of Visual Matrix. “Hoteliers deserve
IHG Hotels & Resorts Reports Half-Year Results
Category: Finance, Finance & Development, Market Reports
IHG Hotels & Resorts reported half-year results ending June 30, 2024. Highlights include company performance with operating profit from reportable segments (+12 percent) and Adjusted EPS (+12 percent); record signings; on track to return over $1 billion to shareholders; and positivity in long-term growth drivers. Trading and revenue H1 Global RevPAR +3.0 percent (Q2 +3.2 percent), Americas +1.7 percent (Q2 +3.3 percent), EMEAA +7.5 percent (Q2 +6.3 percent), and Greater China -2.6 percent (Q2 -7.0
Rigorous Revenue Management: AI Tech Tools Take Pricing and Forecasting Accuracy to the Next Level
Category: Operations, Technology
Revenue management in the hotel industry has become a science over the last few years with pricing strategies that increasingly factor in supply/demand fluctuations and the development of automated revenue management systems (RMSs). The progress has resulted in a rate adjustment approach that is both more efficient and highly personalized, based on multiple data sources from guest demographics to current market conditions. When it comes to selecting an RMS, some hoteliers still opt for a
This Week’s Comings & Goings
Category: Comings & Goings, People
Aimbridge Hospitality announced Christopher Tatum as the new divisional president of its Full Service division. Read more about the appointment here. Marriott International announced Sam Basu as area general manager of Puerto Rico, and concurrently to general manager of The Ritz-Carlton, San Juan. Basu will oversee Marriott’s portfolio on the island. Kimpton Sawyer Hotel announced the appointment of Sam Shafer as executive chef of Revival at the Sawyer, the hotel’s rooftop restaurant and bar. Shafer previously served