In the first entry in our Fact from Fiction series on sustainability issues in tourism, we tackled the emergence of “regenerative tourism” and applied a critical lens that highlighted some of the opportunities and risks. We summarized it as a leap forward from sustainable tourism in that it seeks to maximize positive impacts rather than merely minimizing harms. That’s a common definition but one...
When your portfolio is lean in the part of the world that is performing relatively well through the pandemic, it might be time to panic. But Accor’s leaders have almost written off the idea of gaining more ground in the U.S. “We’re probably going to be nine months to 12 months late to the recovery cycle compared to pretty much everyone else,” Accor CEO Sebastien Bazin said this month at the...
Saudi Arabia wants to write and uphold official “7-star standards” at its upcoming ultra-luxury Sindalah Island. The idea of ‘7-star’ anything dates back to the opening of Dubai’s Burj Al Arab hotel, a distinction that operator Jumeirah has never liked using, nor has the emirate officiated. But Saudi Arabia wants to make it the real deal. Its $500 billion giga-project, NEOM, is hiring...
Travelport said Monday that it has raised $570 million in new equity from investors. Travelport said the deal creates a “new ownership structure” to include Elliott Investment Management, Davidson Kempner Capital Management, Canyon Partners, Siris Capital and other institutional investors. The company said in March that it had received a $200 million investment from its owners, which it...
Podcasts
Hyatt’s Resort Target, Despegar’s Acquisition and Hotels vs. OTAs
In major hospitality news, Hyatt is in talks to acquire Playa Hotels & Resorts, Despegar has agreed to a $1.7 billion buyout by Prosus, and a Skift Research report suggests hotel websites could surpass OTAs by 2030 – or maybe not.
Rashaad Jorden | 3 days ago
Podcasts
Hyatt’s Resort Target, Despegar’s Acquisition and Hotels vs. OTAs
In major hospitality news, Hyatt is in talks to acquire Playa Hotels & Resorts, Despegar has agreed to a $1.7 billion buyout by Prosus, and a Skift Research report suggests hotel websites could surpass OTAs by 2030 – or maybe not.
Rashaad Jorden | 2 days ago
Since OpenAI released the groundbreaking ChatGPT tech late last year, travel companies have been exploring how the latest developments in generative AI could change the way they operate. Only three and a half months later, OpenAI released an update of the technology called GPT-4. Among several notable updates, the last version of ChatGPT can accept images, not just text, and describe them in...
Extreme weather patterns – heat waves, wildfires, floods – are reshaping how people travel. This is clear from changing booking windows, evolving off-season travel itinerary choices, and how popular destinations adapt to the ongoing changes in the weather. Change is already happening – albeit slowly. We think it’s going to accelerate. See all of this year’s Megatrends on our hub page. Travel...
American Airlines’ profits dipped significantly in the second quarter as it seeks to recover from a controversial distribution strategy that led to the departure of its chief commercial officer. The carrier reported a net income of $717 million, a 46% decline compared to the same time last year. American also had record revenues for the quarter at $14.3 billion. American’s results mirror that...
This sponsored content was created in collaboration with a Skift partner. The bustling capital of Canada, Ottawa, is not only a livable and charming city criss-crossed by rivers and surrounded by nature, it is also a hub for Canada’s advanced manufacturing sector. The sector accounts for $185 billion of Canada’s GDP, $260 billion in annual exports, and 1.7 million jobs across the country. A...