Developments in blockchain technology applications for the Hospitality industry.
It looks as if Airbnb Inc. – the online service that lets people rent their homes to travelers – may become one of the world's most valuable startups. The company is reportedly in advanced talks with private equity firms to raise funds that would give it overall market value of $10 billion - higher than major hotel brands such as Wyndham Worldwide (US$9.4 billion) or Hyatt (US$8.4 billion). With a strategy to clearly position themselves as a full-blown hospitality brand, such comparisons are both interesting and relevant.
Travel industry players are gathering their wits as news of the United Kingdom's vote to leave the European Union sinks in. The immediate impact on Britain has been painful: The pound sterling fell to its lowest level since 1985; investors fled the British stock market, seeking stability elsewhere; Prime Minister David Cameron, who opposed Brexit, resigned, saying Britain needed a leader that could better carry out the will of the people.
All eyes are on the spreading coronvirus, COVID-19. Here you can follow the development and the impact of the coronavirus on the Hospitality Industry. Visit the WHO | World Health Organization for more information about the virus. Click here to contribute your content | Stay up-to-date subscribe to our newsletter.
Marriott International, Inc. (NASDAQ: MAR) and Starwood Hotels & Resorts Worldwide, Inc. (NYSE: HOT) announced today that the boards of directors of both companies have unanimously approved a definitive merger agreement under which the companies will create the world's largest hotel company. The transaction combines Starwood's leading lifestyle brands and international footprint with Marriott's strong presence in the luxury and select-service tiers, as well as the convention and resort segment, creating a more comprehensive portfolio. The merged company will offer broader choice for guests, greater opportunities for associates and should unlock additional value for Marriott and Starwood shareholders. Combined, the companies operate or franchise more than 5,500 hotels with 1.1 million rooms worldwide. The combined company's pro forma fee revenue for the 12 months ended September 30, 2015 totals over $2.7 billion.
The movement toward high-tech solutions to engage guests has greatly increased in the hospitality industry and has especially accelerated during the global pandemic as hospitality enterprises implemented health safety protocols to address distancing guidelines. As a result, the implementation of property-wide technologies using personal identifiable information (PII) has presented a conundrum to hospitality organizations: how to safely manage this data — to use it for meaningful guest services, while also protecting it from malicious cyber activity.
Since Donald Trump has become president of the United States, a lot of changes have been occurring to American and even worldwide travel. This is a collection of all notable news that has to do with certain policies and actions taken by the new president of the United States of America.
The hotel industry's vulnerabilities are multi-faceted, but its ability to deal with impacts associated with these vulnerabilities in the past stands it in good stead to overcome the coronavirus (COVID-19) pandemic. On this page you can find a list of resources with views on the future hospitality industry. This is a live topic, we will be adding new resources whenever they are available.