online travel agent
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...
Herbert Park Hotel and Park Residence Increases Direct Bookings and Revenue With P3 Custom Booking Engine
P3 Hotel Software | October 29, 2024
P3's customizable booking engine boosted the luxury hotel’s revenue by 47% and reduced reliance on Online Travel Agencies. October 29 2024 — Dublin & Denver — P3 Hotel Software, a leading innovator in hotel booking solutions, has announced that Herbert Park Hotel and Park Residence, a renowned four-star boutique in the heart of Dublin, has achieved significant boosts in revenue and direct bookings by implementing P3's Custom Booking Engine. The hotel has seen a 47% increase in booking engine revenue within the first 11 months of using P3's system, alongside improving its operational efficiency and guest experience. The shift h...
Why Rate Parity Still Has To Be “The Law of the Land” in Hospitality?
HFTP | July 22, 2024
By Max Starkov, Hospitality & Online Travel Tech Consultant Just to clarify for the non-revenue management folks here, Rate Parity traditionally means maintaining the same publicly available rate for the same room/same stay across all public distribution channels i.e. channels available to any member of the public that is not a loyalty member or member of some guest appreciation or reward program. Rate Parity is not a new online policy specifically designed for the OTAs. It existed long before the “commercial internet" came into being and there was only one reason for its existence: it made revenue management and management of di...
5 Reasons to Reevaluate Your Metasearch Marketing
GCommerce | February 14, 2024
TAs are gaining share, which means less profitable business, missed opportunities to connect with your guests, and losing out on valuable 1st party data. What can you do? Start by looking at your marketing channels that drive the most direct bookings. Metasearch is #1 and is the primary battleground to win back share from the OTAs. Start taking back your direct bookings with our playbook - 5 Reasons to Reevaluate Your Metasearch Marketing Strategies. ...
Cloudbeds Reveals Highest Revenue-Generating OTAs for Independent Properties
Cloudbeds | February 5, 2024
Cloudbeds unveils its rankings of the highest revenue-generating OTAs worldwide for independent hotels, highlighting the continued dominance of Booking.com, Expedia, and Airbnb. The findings indicate a strong comeback for OTAs, the return of Asian travelers, and a renewed demand for hostels and shared accommodations. Based on data from thousands of independent properties, Cloudbeds’ customer insight affirms that properties see a boost in revenue when additional OTA channels are added. San Diego, CA – Cloudbeds, the hospitality management platform powering more reservations and happier guests for independent lodging business...
Redefining The Value Chain in Tourism: Lessons From Thomas Cook’s Demise
Achim Schmitt | October 25, 2019
By Achim Schmitt Thomas Cook: An Industry Perspective On September 23rd, 2019, Thomas Cook – one of the world’s oldest travel companies – declared bankruptcy. The 178-year old travel firm was forced to indefinitely suspend its operations after failing to secure £200 million in emergency funding, despite having already reached an agreement for a £900 million rescue deal. But this wasn’t the first time that Thomas Cook rifled with financial struggles. The company almost went under in 2011 when its debt reached £1.24 billion – but narrowly avoided it by securing an emergency loan of £100 million. Now, 8 years later,...
New Research Shows Fraudulent, Misleading Hotel Bookings Rob Consumers of $5.7 Billion Annually
AHLA | October 7, 2019
WASHINGTON (October 7, 2019) – The American Hotel & Lodging Association (AHLA) released new research that reveals online booking scams and dishonest marketing practices by fraudulent and misleading travel websites continue to deceive and confuse consumers. In fact, 23 percent of consumers report being misled by third-party traveler resellers on the phone or online, which amounted to $5.7 billion in fraudulent and misleading hotel booking transactions in 2018 alone. “The numbers we saw in this research are completely unacceptable. Consumers are being robbed of billions of dollars every year by bad actors,” said Chip Rogers,...
The Rise and Fall of OTAs
Rob Sudakow | July 24, 2019
Is Expedia Destined for Disruption? By Rob Sudakow Travel and Tourism accounted for approximately $8 Trillion of the world economy in 2018 and 10% of the world’s work force - a 6% increase from 2017 and no foreseeable signs of slowing. The travel industry is directly tied to global consumption growth and as wealth and populations continue to grow, demand for travel products will continue to expand. With statistics like this it should come as no surprise that there is a rush to jump into the market. The industry has a long history of failing to drive change and transform internally. “The travel and hospitality industry as a whole has ...
