Briefing: The battle for bookings pivots on tech

According to Hipmunk, an online travel company, one-half of millennials say they’re “travel hackers”, meaning they know the best way to get a good travel deal. Research from Google states that only 23% of leisure travellers are confident they can find all of the same hotel and flight information on their smartphone that they can on their desktop. In the battle for bookings consumer behaviour is being swayed by on-going technological changes, opportunities for efficiency and value, and curiosity about new products.

In these videos experts discuss booking technology:

While the booking portals that travellers are using are changing, booking a holiday is still generally considered a big ticket purchase and requires a lot of consideration, planning and saving. Infact research from WordPay found that in the US, 72% of people still use instalment-based payments for vacation packages.

This also means that travel researchers are using multiple devices to ensure they have the best deal. A report from Google shows 94% of leisure travellers switch between devices as they plan or book a trip, and two thirds of leisure travellers double-check prices on a desktop after shopping.

More and more websites and opportunities for ‘travel hacking’ continue to appear. A website called Dream Cheaper is now even offering to help find travellers a better deal after they have booked.

If you’ve been sent to this page and you’re not yet on the circulation list to receive these regular briefings and you would like to sign up, you can do see here. It’s free.

Video clips produced by ybc.tv for the Hospitality Channel, including interview from industry conferences such as the IHIF conference as well as specific Hospitality Channel shoots.

Briefing: Global business in the face of uncertainty

According to a report from Markit and CIPS, the UK services economy rebounded in August with The Business Activity Index up to 52.9 in August, from 47.4 in July. But we live in a global world and work in an international industry so global forecasts and upsets are always in mind. Markit and CIPS also state that Eurozone economic growth is at a 20-month low in September. FocusEconomics panelists see GDP in China rising 6.6% this year with a slow down to 6.3% next year. This is still positive but reflects a change from recent years.

This week our hospitality experts discuss market uncertainty and global business:

The month-on-month gain in the UK business activity index, at 5.5 points, was the largest observed over the 20-year survey history, following a record drop of 4.9 points in July. This goes to show how changeable today’s economy is.

Markit’s Eurozone PMI® Composite Output Index suggests that the economy is losing, rather than gaining, momentum  as the average index reading over the third quarter (52.9) is below that of quarter two (53.1).

According to FocusEconomics there is suggestion that things are looking in Russia up as GDP fell just 0.6% annually in Q2, the smallest decrease since Q1 2015.

As our experts discuss above long term confidence is difficult with so many factors possibly affecting business. But all business that embrace the international perspective are more expectant of these changes and better equipped to perform in all weathers.

If you’ve been sent to this page and you’re not yet on the circulation list to receive these regular briefings and you would like to sign up, you can do see here. It’s free.

Video clips produced by ybc.tv for the Hospitality Channel, including interview from industry conferences such as the IHIF conference as well as specific Hospitality Channel shoots.

Briefing: new look investment market

With the remaining liquidity issues from the recession feeling like a little bit of a hangover, the market for investment has seen real change. Appreciating and understanding the new ways as to where hospitality will see investment is integral.

Who are the new investors? What does the market look like at the moment? How can you ensure investment into projects? These are just a few of the questions answered in this week’s briefing.

Experts include:

  • Timothy Lloyd-Hughes, of Deutsche Bank, on the new investment coming to the market
  • Mark Wynne-Smith, Global CEO of Jones Lang LaSalle Hotels, on the organisations in the middle of the financing gap.
  • Nick van Marken, Global Hospitality Leader of Deloitte LLP, on the new product that is coming to market.
  • And Kingsley Seevaratnam, of Westmont Hospitality Management, on the power of relationship lending against new investors.
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If you’ve been sent to this page but you’re not yet on the circulation list to receive these regular briefings and you would like to sign up, you can do so here. It’s free.

Video clips produced by yBC.tv for the Hospitality Channel, including interviews from industry conferences such as the most recent IHIF conference as well as specific Hospitality Channel shoots.

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