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The Tricycle of Guest Service Excellence: A Perfect Model For Remarkable Experiences
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Booking Holdings Beats Quarterly Profit Estimates on Healthy International Travel
October 31, 2024
(Reuters) - Online travel agency Booking Holdings beat analysts' expectations for third-quarter profit and revenue on Wednesday, as resilient demand for international travel offset the weakness in domestic travel in the U.S. and China. Shares of the company rose 4.3% after the bell. International travel demand in Europe and many Asian countries has remained steady, making up for the domestic travel slump in the U.S. and China as consumer spending falls amid macroeconomic difficulties. "We are pleased to report third-quarter room night growth of 8%, which exceeded our prior expectations, driven primarily by stronger performance in Eur
Spirit Airlines To Furlough Hundreds of Pilots To Cut Costs
October 31, 2024
By Rajesh Kumar Singh CHICAGO (Reuters) - Spirit Airlines will furlough about 330 pilots on Jan. 31, 2025, a company spokesperson told Reuters, as part of its efforts to cut costs and shore up its finances. The ultra-low-cost carrier has been losing money despite strong travel demand. It has failed to report a profit in the last five out of six quarters, raising doubts about its ability to manage looming debt maturities. Spirit furloughed 186 pilots last month. It will also downgrade 120 captains to first officers on Jan. 31, the spokesperson said. The company has been facing an uncertain future after the collapse of its $3.8 bill
UK Finance Firms Told to Beef Up Buffers Against CrowdStrike-Like Events
October 31, 2024
LONDON (Reuters) - Financial companies in Britain must prepare to ensure they can deliver business services in "severe but plausible" scenarios, such as a global tech outage, to minimise any impact on consumers and markets, the markets regulator said on Thursday. In a statement outlining what lessons could be learned after U.S. cybersecurity firm CrowdStrike's botched software update caused global chaos in July, the Financial Conduct Authority (FCA) said unregulated third-party problems were the leading cause of operational incidents reported between 2022 and 2023. CrowdStrike's popular core technology, the Falcon platform, detects and
8 Revenue Manager Phrases That Mean “I Am Winging It and Have No Idea”
Fabian Bartnick | October 31, 2024
By Fabian Bartnick We’ve all been there—stuck in a meeting where someone says something that makes you think, Do they actually know what they’re talking about? Here are 8 classic phrases from revenue managers who are definitely winging it. 1. We’re optimizing our mix across all channels. Translation: I threw some guesses out there and hoped for the best. Please don’t ask for specifics. 2. The data suggests we should hold rates steady. Translation: I looked at the numbers, but there’s no way I can explain why it matters. Holding steady just sounded safe. 3. Our forecast accuracy is a high priority for us. Transl
U.S. Hotel Results for Week Ending 26 October
CoStar Group | October 31, 2024
WASHINGTON – 31 October 2024 – The U.S. hotel industry reported positive year-over-year comparisons, according to CoStar’s latest data through 26 October. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets. 20-26 October 2024 (percentage change from comparable week in 2023): Occupancy: 69.0% (+4.5%) Average daily rate (ADR): US$168.69 (+4.6%) Revenue per available room (RevPAR): US$116.32 (+9.3%) Among the Top 25 Markets, Tampa saw the largest occupancy lift (+28.1% to 84.2%), due to continued displacement demand from Hurricane Milton. New Or
Low US Weekly Jobless Claims, Solid Consumer Spending Showcase Economy’s Strength
October 31, 2024
By Lucia Mutikani WASHINGTON (Reuters) -The number of Americans filing new applications for unemployment benefits fell to a five-month low last week and consumer spending increased more than expected in September, showcasing the economy's strength heading into the final stretch of 2024 and just days before next Tuesday's presidential election. Though prices pushed higher last month, inflation is firmly on a downward trend, with other data on Thursday showing labor costs posting their smallest gain in more than three years in the third quarter. The data likely keeps the Federal Reserve on track to cut interest rates next week and possibl
Ensuring Your Deal Closes: Three Areas to Focus On
Eric Guerrero | October 31, 2024
Both buyers and sellers want a seamless hotel transaction closing, but a variety of potential pitfalls can slow a deal’s closing. Below, we review three key areas of a hotel sale that may present obstacles: financing, PIP costs, and property insurance premiums. We also provide recommendations that help you to anticipate and prevent issues. Financing Securing debt at a reasonable market rate with good terms is still one of largest obstacles in closing a deal. In order to obtain a good loan, a buyer must have a strong balance sheet with a credible global cash-flow and solid track record of success in owning and operating other hotels. Bu
This Halloween, 10 Ways to Scare Your Competition and Steal Their Customers
Shep Hyken | October 31, 2024
Halloween brings up images of spooky costumes and haunted houses. So, here’s a question for you: Are you confident your customer service and CX won’t scare your customers away? That’s a rhetorical question. If you’ve been reading my weekly newsletters or watching my videos, it means you’ve been investing in yourselves and your company by creating an experience that doesn’t scare customers away … but it may scare your competition.  I’ve created a list. If you do any of these, your customers will love you – nothing scary about that – but your competition will be scared their customers might find out and switch to