Skift Take There are financial pressures and segment-specific obstacles, such as growing supply in the luxury market. Sean O’Neill STR and Tourism Economics lowered their forecast for U.S. hotel demand development today. The benchmarking firms now predict a more modest 2.1% boost in typical everyday rates this year– below the previous price quote of 3.1%. “Everyone in the hotel...
Skift Take Oyo’s potential IPO has most likely run head-on into the collapse of a number of recent public market debuts in India with a number of claims possibly figuring into the regulator’s postponed decision. Oyo will eventually go public, however that first public appearance likely won’t look like the initial vision. Dennis Schaal Softbank-backed Oyo’s hoped-for and...
Skift Take Among Softbank’s holdings, Oyo does not seem another WeWork disaster. Nevertheless, under the glare of being a public business, Oyo would be challenged to get to profitability, and to remedy its ongoing brand reputation difficulties. Dennis Schaal India’s once-highflying hotel operator and tech service provider Oyo is poised to execute an initial public offering in India in...
Skift Take Today’s edition of Skift’s day-to-day podcast looks at the ecological efficiency of hotel brands, the getaway leasings labor shortage, and South Africa’s energy crisis. Rashaad Jorden Good morning from Skift. It’s Thursday, March 16. Here’s what you need to know about the business of travel today. Listen Now Subscribe Apple Podcasts|Spotify|Overcast|Google...
Skift Take Squake has a mission to spread the word about travel carbon emissions, while HiJiffy is utilizing tech from ChatGPT to power a chatbot for hotels. Justin Dawes 3 travel tech startups raised almost $7 million in venture capital this week. >> Squake has raised $3.8 million (EUR3.5 million) for technology that powers carbon emissions computations for the travel and logistics markets. The...
India is aiming to set up a “Swachhata (Cleanliness) Rating Framework” developed to evaluate tourist organizations, such as hotels and homestays, according to Tourist Secretary V Vidyavathi. This framework aligns with the “Travel for LiFE” principles, an essential part of the Sustainable Tourist Policy, underscoring the imperative of tidy and sanitary establishments...
Skift Take Today’s edition of Skift’s everyday podcast looks more detailed at severe luxury experience trips, hotels’ AI labors service, and Bhutan’s push for longer tourist visits. Rashaad Jorden Great early morning from Skift. It’s Friday, June 23. Here’s what you require to know about business of travel today. Listen Now Subscribe Apple...
Skift Take With ‘transformational’ modifications to its business design revealed previously this week, Spirit will be hoping that these numbers are the start of a long-lasting shift for the distressed airline company. Gordon Smith Spirit Airlines mentioned overcapacity and strong competition amongst the factors weighing down a sluggish set of 2nd quarter incomes. Simply 2 weeks back...
Skift Take The research study will investigate what can be done to improve competition within the nation’s domestic airline company market. Gordon Smith Canada’s Competition Bureau is preparing to release a major review of the country’s airline company sector. On Monday, the company said “current occasions have raised questions about the state of competition in the...
Skift Take Wondering where is the next billion opportunity for India’s travel market? Satisfy the increasing middle class with increased non reusable incomes. Peden Doma Bhutia In this episode of the Skift India Podcast Aloke Bajpai, the CEO and co founder of Ixigo, talks to Skift Asia Editor Peden Doma Bhutia about the “next billion Indian chance” in tier-2 and tier-3 markets...