Hoping to capitalize on the work-from-anywhere phenomenon that led to more flexibility for workers, more relocations and longer lengths of stay, big hotel companies are adding new brands in the midscale extended-stay segment. Since last fall, Best Western, Hilton, Hyatt, Marriott and Wyndham each announced new products in the space. They augment these companies’ pre-existing…
Though some forecasters expect moderation next year, corporate hotel rates continue to rise. There are several reasons, notably inflation, cost pressures and lagging corporate recovery relative to other segments. While several hotel executives in recent weeks said all three challenges were easing, they also described a “normalized” environment featuring elevated pricing levels. Buyers should expect…
More hotel chains are adopting a solution developed by Grasp Technologies and Marriott International for the vexing problem of communicating virtual payment instructions to properties. “Right now, we’ve launched with Marriott, Hilton, IHG and Hyatt,” said Grasp senior sales director for virtual payments Stacey Mack during a webinar last week. “We will bring on more…
Three-quarters of a huge industry is a huge industry. With messy year-over-omicron first-quarter comparisons behind it, corporate travel has settled in to its traditional single-digit percentage growth pattern and is now at about 75 percent of its pre-pandemic self. It’s been there for most of 2023. American Express Global Business Travel on Tuesday said transactions…
Pricing power for lodging suppliers, an altered traveler profile and uncertainty on the buyer side created unusual outcomes for 2023 rate negotiations. At some Hilton properties, this meant refusing to offer static negotiated rates and walking away from business. As customers sought to move rate programs back to the traditional static structure from a dynamic…
Three former travel buyers in July swapped their corporate jobs for startup life to pursue a passion for fixing sustainable sourcing in hospitality. Female-founded Alō Index “eliminates the struggle with siloed, unverified and duplicative” environmental, social and governance information, according to the company. Alō “consolidates, verifies, enriches, analyzes and weights millions of ESG datapoints to…
Some suppliers are describing corporate travel demand recovery trends beyond 80 percent relative to 2019, but a cross section of the landscape based on large-client data from Emburse is not so optimistic. Emburse for the quarter ending in September found that domestic U.S. air booking volume was down 36 percent versus 2019. Total domestic air…
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