Key Points Hilton and Hyatt are leading in property and room count growth over the past five years. Hilton opened its 8,000th property, while Hyatt had the highest growth rate from a smaller base. Room counts provide a different perspective on growth, with Hilton showing strong increases. Summary The article discusses the rapid growth of Hilton and Hyatt in the hotel industry, highlighting their...
More than two years after it first said it was exploring a rule to clamp down on junk fees, the Federal Trade Commission unveiled on Tuesday a final rule banning the practice. The rule affects multiple industries but is heavily targeted toward travel companies, specifically hotels, short-term rental companies, and online travel agencies. “(The final rule) does not prohibit any type or...
Saudis are exploring their own country in bigger numbers and foreigners are bringing the cash. That’s the takeaway from a report by the International Monetary Fund (IMF) on the state of the Saudi economy. “The surge of visitors has been mostly domestic-driven while the surge in visitors’ spending was mostly inbound-driven (i.e., international arrivals),” said the IMF report...
Americans are projected to travel in large numbers for Thanksgiving: Close to 80 million travelers will venture 50 miles or more from home over the holiday period, according to travel organization AAA. That’s 79.9 million to be exact – 1.7 million more than last year and 2 million more than 2019. AAA’s 2024 forecast includes the Tuesday before and the Monday after Thanksgiving Day...
Choice Hotels International has signaled an intent to acquire Wyndham Hotels & Resorts, the Wall Street Journal reported on Tuesday. A spokesperson for Choice Hotels told Skift: “We do not comment about market rumors and speculation.” “We don’t comment on rumors,” said a spokesperson for Wyndham. “We are focused on business as usual.” The Journal said the...
Till a little over a century ago, river cruising was quite prevalent in India until railways took over as a faster means of transport. Cut to now, the activity is back and growing in the country, only now it’s more for leisure, said Raj Singh, chairman of Heritage River Journeys, which operates Antara River Cruises in India. “River cruising in India is a new concept now and most people...
Lark Hospitality announced a joint venture Wednesday with Life House Hotels that will create one of North America’s largest operators of independent boutique hotels. Financial terms of the transaction were not disclosed. The companies said the venture will have a “nearly $1 billion portfolio” of small, lifestyle hotels with about 97 U.S. properties and 3,000 rooms. Life House...
Key Points Skift Research discussed the growing role of credit card companies in the travel industry. Post-pandemic, younger consumers are favoring credit card platforms over traditional OTAs. Banks benefit from acquiring valuable demographics and leveraging the halo effect of travel. Summary Skift Research’s Seth Borko and Pranavi Agarwal discussed the rising influence of credit card companies...
In only 13 years, Ennismore has grown from a single property to more than 170 hotels, and it has taken an unusual approach: keeping core operations like restaurant concepts, interior design, and digital marketing under its own roof rather than outsourcing to third parties. The company, majority owned by Accor, says it will continue with the strategy as it plans to nearly double its hotel...
Good morning from Skift. It’s Thursday, April 18. Here’s what you need to know about the business of travel today. Listen Now Subscribe Apple Podcasts | Spotify | Overcast | Google Podcasts | Amazon Podcasts Episode Notes Airbnb CEO Brian Chesky’s 10-year pay package, announced in 2021, could hit $1 billion or more if the company’s share price hits certain price targets, reports Executive Editor...