CellPoint Digital\u00a0has launched a suite of alternative payment methods for the travel sector.
\nThe payment orchestration company\u2019s APM Hub debuts as travelers are increasingly turning to alternative payment methods (APMs) like digital wallets.
\n\u201cThe launch of the APM Hub underscores the growing importance of APMs in what merchants need to offer,\u201d Tom Randklev, global head of product at CellPoint Digital, said in a Wednesday (Sept. 25) press release.
\n\u201cWe\u2019re committed to investing in these solutions today to help drive future business growth \u2014 for our partners and ourselves.\u201d
\nAPM Hub, launching in the early part of the fourth quarter of the year and being rolled out to Latin America and EU customers first, is designed to streamline and accelerate access to APMs, the release said.
\nThe hub offers customers access to 168 of the \u201cmost critical\u201d APMs, designed to offer merchants a single-integration solution and built-in redundancy for a more reliable and resilient payment infrastructure.
\n\u201cAPMs, including digital wallets, cash vouchers, bank transfers, and Buy Now, Pay Later (BNPL), are rapidly gaining popularity with consumers worldwide,\u201d the release said.
\n\u201cThis surge in demand is prompting merchants across industries to offer more APMs to their customers, spurring innovation in the payments sector with new options continuously emerging.\u201d
\nThis is backed up by research from PYMNTS Intelligence, which finds that\u00a074% of travelers\u00a0view digital wallets as essential to their experience. That rate climbs even higher for affluent travelers (83%) and millennials (82%).
\n\u201cCustomers using digital wallets spend an average of $44 per visit at restaurants, more than the $33 spent by those using\u00a0traditional payment methods,\u201d PYMNTS wrote earlier this week. \u201cThis trend reflects a broader consumer preference for seamless, efficient payment solutions that enhance the overall travel experience.\u201d
\nAnd while some travel and hospitality companies are still cautious about embracing new payment technologies, many recognize the competitive advantages that real-time payment systems can provide, with one survey finding that 71% of hoteliers believe guests view technology as empowering, with contactless payments ranking as the most desired innovation.
\nEarlier this month, CellPoint announced it would provide\u00a0payment orchestration services\u00a0to\u00a0Arajet, an airline based in the Dominican Republic serving 23 destinations in 16 countries in the Caribbean and the Americas.
\nThe company said this collaboration allows Arajet to centralize its payment processes and support a variety of APMs in South America and Mexico.
\nThe post CellPoint Debuts Alternative Payments Hub for Travel Merchants appeared first on PYMNTS.com.
\n", "content_text": "CellPoint Digital\u00a0has launched a suite of alternative payment methods for the travel sector.\nThe payment orchestration company\u2019s APM Hub debuts as travelers are increasingly turning to alternative payment methods (APMs) like digital wallets.\n\u201cThe launch of the APM Hub underscores the growing importance of APMs in what merchants need to offer,\u201d Tom Randklev, global head of product at CellPoint Digital, said in a Wednesday (Sept. 25) press release.\n\u201cWe\u2019re committed to investing in these solutions today to help drive future business growth \u2014 for our partners and ourselves.\u201d\nAPM Hub, launching in the early part of the fourth quarter of the year and being rolled out to Latin America and EU customers first, is designed to streamline and accelerate access to APMs, the release said.\nThe hub offers customers access to 168 of the \u201cmost critical\u201d APMs, designed to offer merchants a single-integration solution and built-in redundancy for a more reliable and resilient payment infrastructure.\n\u201cAPMs, including digital wallets, cash vouchers, bank transfers, and Buy Now, Pay Later (BNPL), are rapidly gaining popularity with consumers worldwide,\u201d the release said.\n\u201cThis surge in demand is prompting merchants across industries to offer more APMs to their customers, spurring innovation in the payments sector with new options continuously emerging.\u201d\nThis is backed up by research from PYMNTS Intelligence, which finds that\u00a074% of travelers\u00a0view digital wallets as essential to their experience. That rate climbs even higher for affluent travelers (83%) and millennials (82%).\n\u201cCustomers using digital wallets spend an average of $44 per visit at restaurants, more than the $33 spent by those using\u00a0traditional payment methods,\u201d PYMNTS wrote earlier this week. \u201cThis trend reflects a broader consumer preference for seamless, efficient payment solutions that enhance the overall travel experience.\u201d\nAnd while some travel and hospitality companies are still cautious about embracing new payment technologies, many recognize the competitive advantages that real-time payment systems can provide, with one survey finding that 71% of hoteliers believe guests view technology as empowering, with contactless payments ranking as the most desired innovation.\nEarlier this month, CellPoint announced it would provide\u00a0payment orchestration services\u00a0to\u00a0Arajet, an airline based in the Dominican Republic serving 23 destinations in 16 countries in the Caribbean and the Americas.\nThe company said this collaboration allows Arajet to centralize its payment processes and support a variety of APMs in South America and Mexico.\nThe post CellPoint Debuts Alternative Payments Hub for Travel Merchants appeared first on PYMNTS.com.", "date_published": "2024-09-25T08:38:05-04:00", "date_modified": "2024-09-25T22:10:45-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2023/11/leisure-travel.jpg", "tags": [ "BNPL", "buy now pay later", "CellPoint Digital", "digital wallets", "Mobile Wallets", "News", "Payment Methods", "PYMNTS News", "travel", "Travel Payments", "What's Hot" ] }, { "id": "https://www.pymnts.com/?p=2104160", "url": "https://www.pymnts.com/travel-payments/2024/travala-integrates-solana-blockchain-with-crypto-travel-platform/", "title": "Travala Integrates Solana Blockchain With Crypto Travel Platform", "content_html": "Cryptocurrency-native travel platform Travala integrated the Solana blockchain network.
\nAs part of the integration, Travala will add SOL travel rewards as an option for loyalty program members, while also deploying its AVA token \u2014 used to access its loyalty program \u2014 on Solana, according to a Monday (Sept. 23) press release.
\n\u201cThe Solana network has become one of the most used blockchains due to its cost-effectiveness and scalability,\u201d Travala CEO Juan Otero said in the release. \u201cNot only is the amount of activity within the Solana ecosystem incredible, so is the creativity. As innovators at Travala.com, the technologies that can be harnessed on the Solana network open significant avenues to build the next phase of travel.\u201d
\nThe move allows Solana users to make travel bookings using assets on the Solana network, including the platform\u2019s SOL currency as well as coins such as USDT and USDC, according to the release. It will also soon let travelers receive up to 10% of every booking back in SOL rewards via the AVA Smart Program, the company\u2019s travel loyalty program. Lastly, Travala added SOL support to user account wallets.
\n\u201cWhile Travala.com supports more than 100 cryptocurrencies, fewer than 10 are natively supported within the account wallet,\u201d the release said. \u201cThe integration of the Solana network now enables users to make deposits and withdrawals of SOL, USDT and USDC on the Solana network into their Travala.com account and enjoy zero-fee transactions when booking travel.\u201d
\nPYMNTS examined the idea of blockchain as a mainstream payments rail earlier this year in an interview with Sheraz Shere, head of payments at Solana Foundation.
\n\u201cIt\u2019s important to know that crypto is not just bitcoin and Doge and NFTs,\u201d said Shere. \u201cBlockchains are really alternative rails for payments and financial assets.\u201d
\nStill, accelerating cryptocurrency adoption presents an ongoing challenge that involves increasing awareness, especially among senior figures in the financial services sector.
\nWhile crypto advocates possess insights into the technology, there remains a need for education among executives for them to truly embrace exploring the practical applications and future potential of cryptocurrency within payments.
\n\u201cImagine a global [real-time payments] system that just runs with no central authority,\u201d Shere said. \u201cWell, we have that with stablecoins running on a network like Solana \u2014 fully permissionless, decentralized instant settlement.\u201d
\nFor all PYMNTS digital transformation coverage, subscribe to the daily Digital Transformation Newsletter.
\nThe post Travala Integrates Solana Blockchain With Crypto Travel Platform appeared first on PYMNTS.com.
\n", "content_text": "Cryptocurrency-native travel platform Travala integrated the Solana blockchain network.\nAs part of the integration, Travala will add SOL travel rewards as an option for loyalty program members, while also deploying its AVA token \u2014 used to access its loyalty program \u2014 on Solana, according to a Monday (Sept. 23) press release.\n\u201cThe Solana network has become one of the most used blockchains due to its cost-effectiveness and scalability,\u201d Travala CEO Juan Otero said in the release. \u201cNot only is the amount of activity within the Solana ecosystem incredible, so is the creativity. As innovators at Travala.com, the technologies that can be harnessed on the Solana network open significant avenues to build the next phase of travel.\u201d\nThe move allows Solana users to make travel bookings using assets on the Solana network, including the platform\u2019s SOL currency as well as coins such as USDT and USDC, according to the release. It will also soon let travelers receive up to 10% of every booking back in SOL rewards via the AVA Smart Program, the company\u2019s travel loyalty program. Lastly, Travala added SOL support to user account wallets.\n\u201cWhile Travala.com supports more than 100 cryptocurrencies, fewer than 10 are natively supported within the account wallet,\u201d the release said. \u201cThe integration of the Solana network now enables users to make deposits and withdrawals of SOL, USDT and USDC on the Solana network into their Travala.com account and enjoy zero-fee transactions when booking travel.\u201d\nPYMNTS examined the idea of blockchain as a mainstream payments rail earlier this year in an interview with Sheraz Shere, head of payments at Solana Foundation.\n\u201cIt\u2019s important to know that crypto is not just bitcoin and Doge and NFTs,\u201d said Shere. \u201cBlockchains are really alternative rails for payments and financial assets.\u201d\nStill, accelerating cryptocurrency adoption presents an ongoing challenge that involves increasing awareness, especially among senior figures in the financial services sector.\nWhile crypto advocates possess insights into the technology, there remains a need for education among executives for them to truly embrace exploring the practical applications and future potential of cryptocurrency within payments.\n\u201cImagine a global [real-time payments] system that just runs with no central authority,\u201d Shere said. \u201cWell, we have that with stablecoins running on a network like Solana \u2014 fully permissionless, decentralized instant settlement.\u201d\nFor all PYMNTS digital transformation coverage, subscribe to the daily Digital Transformation Newsletter.\nThe post Travala Integrates Solana Blockchain With Crypto Travel Platform appeared first on PYMNTS.com.", "date_published": "2024-09-23T13:40:37-04:00", "date_modified": "2024-09-23T13:40:37-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2024/09/Solana.jpg", "tags": [ "Bitcoin", "Blockchain", "Cryptocurrency", "digital transformation", "Innovation", "loyalty rewards", "News", "PYMNTS News", "Solana", "Technology", "Travala", "travel", "Travel Payments", "What's Hot" ] }, { "id": "https://www.pymnts.com/?p=2103291", "url": "https://www.pymnts.com/travel-payments/2024/report-american-airlines-considering-making-citigroup-sole-credit-card-partner/", "title": "Report: American Airlines Considering Making Citigroup Sole Credit Card Partner", "content_html": "American Airlines is reportedly considering consolidating its business with a single credit card partner, potentially by making Citigroup its exclusive partner and dropping Barclays.
\nThe airline\u2019s talks with banks and card networks are ongoing and the timing of an agreement is unknown, CNBC reported Friday (Sept. 20), citing unnamed sources.
\nA deal could also face scrutiny from U.S. regulators, which in turn could delay or cancel any changes to the current arrangements, according to the report.
\nResponding to the report, American told CNBC: \u201cWe continue to work with all of our partners, including our co-branded credit card partners, to explore opportunities to improve the products and services we provide our mutual customers and bring even more value to the AAdvantage program.\u201d
\nA Citigroup spokesperson said the bank is always working with its partners to \u201cdrive shared value and growth,\u201d while Barclay\u2019s declined to comment, per the report.
\nAmerican\u2019s current credit card arrangement is unusual, as most brands work with a single issuer, according to the report. The arrangement dates back to 2013, when American merged with US Airways and added US Airways\u2019 card partner, Barclays, while keeping its own partner, Citigroup.
\nAmerican renewed both relationships in 2016, with Citi being allowed to market its cards online, in direct mail and in airport lounges, and Barclays marketing cards on flights, the report said.
\nThe contracts came up for renewal again in the past year, and any new contract is likely to be for the next seven to 10 years, per the report.
\nAmerican Airlines expanded benefits under its AAdvantage Business incentive program in July as part of a pivot in its sales and distribution strategy. It began rewarding miles and loyalty points for bookings made through travel agencies, reversing a previous policy that limited rewards to direct bookings.
\nThe company is also one of the four U.S. airlines whose rewards programs are the subject of an inquiry by the Department of Transportation. The DOT ordered the airlines to provide information about their rewards programs, practices and policies, including the devaluation of earned rewards, hidden and dynamic pricing, extra fees and reduction in competition and choice.
\nThe post Report: American Airlines Considering Making Citigroup Sole Credit Card Partner appeared first on PYMNTS.com.
\n", "content_text": "American Airlines is reportedly considering consolidating its business with a single credit card partner, potentially by making Citigroup its exclusive partner and dropping Barclays.\nThe airline\u2019s talks with banks and card networks are ongoing and the timing of an agreement is unknown, CNBC reported Friday (Sept. 20), citing unnamed sources.\nA deal could also face scrutiny from U.S. regulators, which in turn could delay or cancel any changes to the current arrangements, according to the report.\nResponding to the report, American told CNBC: \u201cWe continue to work with all of our partners, including our co-branded credit card partners, to explore opportunities to improve the products and services we provide our mutual customers and bring even more value to the AAdvantage program.\u201d\nA Citigroup spokesperson said the bank is always working with its partners to \u201cdrive shared value and growth,\u201d while Barclay\u2019s declined to comment, per the report.\nAmerican\u2019s current credit card arrangement is unusual, as most brands work with a single issuer, according to the report. The arrangement dates back to 2013, when American merged with US Airways and added US Airways\u2019 card partner, Barclays, while keeping its own partner, Citigroup.\nAmerican renewed both relationships in 2016, with Citi being allowed to market its cards online, in direct mail and in airport lounges, and Barclays marketing cards on flights, the report said.\nThe contracts came up for renewal again in the past year, and any new contract is likely to be for the next seven to 10 years, per the report.\nAmerican Airlines expanded benefits under its AAdvantage Business incentive program in July as part of a pivot in its sales and distribution strategy. It began rewarding miles and loyalty points for bookings made through travel agencies, reversing a previous policy that limited rewards to direct bookings.\nThe company is also one of the four U.S. airlines whose rewards programs are the subject of an inquiry by the Department of Transportation. The DOT ordered the airlines to provide information about their rewards programs, practices and policies, including the devaluation of earned rewards, hidden and dynamic pricing, extra fees and reduction in competition and choice.\nThe post Report: American Airlines Considering Making Citigroup Sole Credit Card Partner appeared first on PYMNTS.com.", "date_published": "2024-09-20T16:14:00-04:00", "date_modified": "2024-09-20T16:14:00-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2024/09/American-Airlines-Citigroup.png", "tags": [ "airline credit cards", "American Airlines", "Barclays", "Citi", "Citigroup", "credit cards", "News", "partnerships", "PYMNTS News", "travel", "Travel Payments", "What's Hot" ] }, { "id": "https://www.pymnts.com/?p=2102622", "url": "https://www.pymnts.com/travel-payments/2024/airbnb-long-term-stays-present-huge-growth-opportunity/", "title": "Airbnb: Long-Term Stays Present \u2018Huge Growth Opportunity\u2019", "content_html": "With some cities suffering housing shortages, Airbnb is eyeing long-term stays.
\nThe vacation rental company is focused on expanding its long-term rental business, meaning stays of 28 days or more, CEO Brian Chesky said at a travel conference, Reuters reported Thursday (Sept. 19).
\n\u201cStays of 30 to 90 days, monthly stays, the seasonal stays, I think that\u2019s a huge growth opportunity,\u201d said Chesky, per the report.
\nLong-term rental bookings have grown in recent years, accounting for 17% to 18% of the company\u2019s business, up from 13% to 14% before the pandemic, according to the report.
\nThe company wants to expand its long-term rental and experience businesses while also providing new services such as matching people with homes who do not have time to be Airbnb hosts with people who want to be hosts but do not have properties to list, the report said.
\nThe company also sees sponsored home listings as a billion-dollar revenue source, according to the report.
\nThe efforts come as governments worldwide crack down on short-term rentals to boost the housing supply for full-time residents, with countries like Greece and Spain constricting vacation rentals to address housing shortages, the report said.
\nAirbnb is challenging regulations in New York governing short-term rentals, calling on the city earlier this month to ease its restrictions. It said Local Law 18 \u2014 which requires short-term rental hosts to be licensed by the city and follow occupancy rules and building codes \u2014 has not lowered rents, while hotel prices continue to increase.
\nCity officials said the law helps New York enforce its rental codes, something many hosts have violated.
\nAlthough global business travel spending is expected to reach a record high in 2024, certain consumers are decreasing their travel spending.
\nThe PYMNTS Intelligence report \u201cThe Last Transaction: Family Spending Habits Reveal Merchant Opportunities in Retail and Travel\u201d showed changes in spending inspired by inflation.
\n\u201cIn terms of travel, married parents with children at home were 77% more likely to make a travel purchase recently than married couples without children,\u201d PYMNTS reported in July. \u201cHowever, despite their higher likelihood of purchasing travel services, their spending per trip has decreased. The average amount consumers spent on travel services in the 30 days prior to being surveyed was down from $389 in 2022 to $326.\u201d
\nThe post Airbnb: Long-Term Stays Present \u2018Huge Growth Opportunity\u2019 appeared first on PYMNTS.com.
\n", "content_text": "With some cities suffering housing shortages, Airbnb is eyeing long-term stays.\nThe vacation rental company is focused on expanding its long-term rental business, meaning stays of 28 days or more, CEO Brian Chesky said at a travel conference, Reuters reported Thursday (Sept. 19).\n\u201cStays of 30 to 90 days, monthly stays, the seasonal stays, I think that\u2019s a huge growth opportunity,\u201d said Chesky, per the report.\nLong-term rental bookings have grown in recent years, accounting for 17% to 18% of the company\u2019s business, up from 13% to 14% before the pandemic, according to the report.\nThe company wants to expand its long-term rental and experience businesses while also providing new services such as matching people with homes who do not have time to be Airbnb hosts with people who want to be hosts but do not have properties to list, the report said.\nThe company also sees sponsored home listings as a billion-dollar revenue source, according to the report.\nThe efforts come as governments worldwide crack down on short-term rentals to boost the housing supply for full-time residents, with countries like Greece and Spain constricting vacation rentals to address housing shortages, the report said.\nAirbnb is challenging regulations in New York governing short-term rentals, calling on the city earlier this month to ease its restrictions. It said Local Law 18 \u2014 which requires short-term rental hosts to be licensed by the city and follow occupancy rules and building codes \u2014 has not lowered rents, while hotel prices continue to increase.\nCity officials said the law helps New York enforce its rental codes, something many hosts have violated.\nAlthough global business travel spending is expected to reach a record high in 2024, certain consumers are decreasing their travel spending.\nThe PYMNTS Intelligence report \u201cThe Last Transaction: Family Spending Habits Reveal Merchant Opportunities in Retail and Travel\u201d showed changes in spending inspired by inflation.\n\u201cIn terms of travel, married parents with children at home were 77% more likely to make a travel purchase recently than married couples without children,\u201d PYMNTS reported in July. \u201cHowever, despite their higher likelihood of purchasing travel services, their spending per trip has decreased. The average amount consumers spent on travel services in the 30 days prior to being surveyed was down from $389 in 2022 to $326.\u201d\nThe post Airbnb: Long-Term Stays Present \u2018Huge Growth Opportunity\u2019 appeared first on PYMNTS.com.", "date_published": "2024-09-19T17:18:05-04:00", "date_modified": "2024-09-19T17:18:05-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2023/03/Airbnb.jpg", "tags": [ "Airbnb", "Connected Economy", "News", "platform economy", "PYMNTS News", "sharing economy", "travel", "Travel Payments", "What's Hot" ] }, { "id": "https://www.pymnts.com/?p=2099819", "url": "https://www.pymnts.com/travel-payments/2024/expedia-teams-with-influencers-and-celebs-on-shoppable-storefronts/", "title": "Expedia Teams With Influencers and Celebs on Shoppable Storefronts", "content_html": "Expedia\u00a0has launched a series of \u201cshoppable storefronts\u201d curated by social media influencers and brands.
\nThe company\u2019s Travel Shops,\u00a0announced\u00a0Monday (Sept. 16), allow creators to share and save travel recommendations using the Expedia app.
\n\u201cEvery day, people are liking and buying products recommended by influencers they trust, but until now there hasn\u2019t been a simple way to shop travel recommendations,\u201d Lauri Metrose, senior vice president of global communications at Expedia, said in a news release.
\n\u201cTravelers are already getting inspiration through Instagram and TikTok, so creating a path to go from looking to booking is a natural evolution that meets travelers where they\u2019re at.\u201d
\nThe program is launching as an invite-only offering, but will become widely available next year, allowing anyone to create their own shop, the company added.
\nAside from storefronts run by travel influencers, travelers can also book hotel collections from figures like actor and producer Jaime Camil and footballer Virgil van Dijk, as well as media outlets like Cond\u00e9 Nast Traveler, and local tourism pounds like Travel Alberta and Visit Orlando.
\nAs noted here earlier this year, social media can go a long way toward\u00a0shaping travel trends. A study by online travel agency justfly.com underlines the dominance of Facebook in audience engagement, with that platform nearly half of Generation Z and more than 70% of older demographics. Likewise, YouTube remains highly popular among Gen Z, millennials and baby boomers.
\nThe study found that younger consumers, particularly Gen Z and millennials, depend heavily on social media for travel planning, with 81% and 75%, respectively, considering it in choosing a destination. Though comparatively lower, half of Generation X and 32% of baby boomers still pointed to social media’s influence in their travel planning processes.
\n\u201cLike most aspects of our lives, social media continues to play a bigger and bigger role in what drives our decision-making process,\u201d said Henri Chelhot, CEO of justfly.com.
\n\u201cIt\u2019s clear that travel is no different. Social media will continue to have a huge impact in determining how consumers determine when and where they will travel. Americans are often inspired by what they see on social media.\u201d
\nMeanwhile, PYMNTS last week wrote about another social media-inspired travel trend:\u00a0so-called \u201cgrocery tourism.\u201d
\nThis phenomenon may have been begun by TikTok user @marissainchina, who posted a video earlier this year asserting, \u201cThis may be controversial, but I think the best thing to do while traveling is go to the grocery store. \u2026 Going to a grocery store could technically be counted as sightseeing, right? Because not only is it a cultural experience, but you can also find lots of stuff to bring back as souvenirs.\u201d
\nThe post Expedia Teams With Influencers and Celebs on Shoppable Storefronts appeared first on PYMNTS.com.
\n", "content_text": "Expedia\u00a0has launched a series of \u201cshoppable storefronts\u201d curated by social media influencers and brands.\nThe company\u2019s Travel Shops,\u00a0announced\u00a0Monday (Sept. 16), allow creators to share and save travel recommendations using the Expedia app.\n\u201cEvery day, people are liking and buying products recommended by influencers they trust, but until now there hasn\u2019t been a simple way to shop travel recommendations,\u201d Lauri Metrose, senior vice president of global communications at Expedia, said in a news release.\n\u201cTravelers are already getting inspiration through Instagram and TikTok, so creating a path to go from looking to booking is a natural evolution that meets travelers where they\u2019re at.\u201d\nThe program is launching as an invite-only offering, but will become widely available next year, allowing anyone to create their own shop, the company added.\nAside from storefronts run by travel influencers, travelers can also book hotel collections from figures like actor and producer Jaime Camil and footballer Virgil van Dijk, as well as media outlets like Cond\u00e9 Nast Traveler, and local tourism pounds like Travel Alberta and Visit Orlando.\nAs noted here earlier this year, social media can go a long way toward\u00a0shaping travel trends. A study by online travel agency justfly.com underlines the dominance of Facebook in audience engagement, with that platform nearly half of Generation Z and more than 70% of older demographics. Likewise, YouTube remains highly popular among Gen Z, millennials and baby boomers.\nThe study found that younger consumers, particularly Gen Z and millennials, depend heavily on social media for travel planning, with 81% and 75%, respectively, considering it in choosing a destination. Though comparatively lower, half of Generation X and 32% of baby boomers still pointed to social media’s influence in their travel planning processes.\n\u201cLike most aspects of our lives, social media continues to play a bigger and bigger role in what drives our decision-making process,\u201d said Henri Chelhot, CEO of justfly.com.\n\u201cIt\u2019s clear that travel is no different. Social media will continue to have a huge impact in determining how consumers determine when and where they will travel. Americans are often inspired by what they see on social media.\u201d\nMeanwhile, PYMNTS last week wrote about another social media-inspired travel trend:\u00a0so-called \u201cgrocery tourism.\u201d\nThis phenomenon may have been begun by TikTok user @marissainchina, who posted a video earlier this year asserting, \u201cThis may be controversial, but I think the best thing to do while traveling is go to the grocery store. \u2026 Going to a grocery store could technically be counted as sightseeing, right? Because not only is it a cultural experience, but you can also find lots of stuff to bring back as souvenirs.\u201d\nThe post Expedia Teams With Influencers and Celebs on Shoppable Storefronts appeared first on PYMNTS.com.", "date_published": "2024-09-16T11:08:16-04:00", "date_modified": "2024-09-17T10:27:14-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2024/09/expedia-travel-shops.jpg", "tags": [ "ecommerce", "Expedia", "Expedia Travel Shops", "Influencers", "News", "online travel agencies", "PYMNTS News", "Social Media", "travel", "Travel Payments", "What's Hot" ] }, { "id": "https://www.pymnts.com/?p=2096801", "url": "https://www.pymnts.com/travel-payments/2024/klarna-and-uatp-partner-on-flexible-payment-options-for-airlines/", "title": "Klarna and UATP Partner on Flexible Payment Options for Airlines", "content_html": "Global payment network UATP and buy now, pay later (BNPL) provider Klarna have partnered to allow airlines to offer Klarna\u2019s flexible payment options.
\nWith this collaboration, airline customers can select Klarna\u2019s immediate payments; short-term, interest-free BNPL; or longer-term financing for travel products and services, the companies said in a Tuesday (Sept. 10) press release.
\nThe partnership is expected to go live by the end of the third quarter, according to the release.
\n\u201cBNPL is an essential payment option for travel merchants to provide their customers,\u201d Zach Ornelas, senior vice president of global sales at UATP, said in the release. \u201cIt offers flexibility and convenience to encourage travelers to complete transactions and boost conversion rates.\u201d
\nThe new partnership strengthens UATP\u2019s support for BNPL options and helps its merchants tap into the growing BNPL market, according to the release.
\nIt also gives Klarna immediate access to the airlines and travel agencies that are among UATP\u2019s, the release said.
\nTogether, the companies enable airlines and other travel merchants on the UATP network to add BNPL more quickly, per the release.
\n\u201cTravel is perfect for interest-free buy now, pay later, allowing travelers worldwide to spread the cost of their trips and without getting stuck paying sky-high credit card interest rates,\u201d Erin Jaeger, head of North America at Klarna, said in the release. \u201cThis agreement with UATP means we can quickly bring these benefits to many more airlines and tap into the huge growth opportunity which the $1 trillion travel industry represents for us.\u201d
\nTravel and hospitality firms worldwide are increasing their investments in payment upgrades, according to the PYMNTS Intelligence and Ingo Payments collaboration, \u201cTravel Tips: Instant Payments for Tips and Payouts in Travel and Hospitality.\u201d
\nKlarna has formed several partnerships in this space in recent months. The company expanded its partnership with travel company Expedia to offer flexible payments to travelers in the United States; teamed up with Uber to let users in the U.S., Germany and Sweden use Klarna\u2019s Pay Now option to cover the cost of their\u00a0next ride immediately and in full; and collaborated with luggage and travel accessories brand Away to offer BNPL options to that company\u2019s customers in the U.S., Canada and the United Kingdom.
\nThe post Klarna and UATP Partner on Flexible Payment Options for Airlines appeared first on PYMNTS.com.
\n", "content_text": "Global payment network UATP and buy now, pay later (BNPL) provider Klarna have partnered to allow airlines to offer Klarna\u2019s flexible payment options.\nWith this collaboration, airline customers can select Klarna\u2019s immediate payments; short-term, interest-free BNPL; or longer-term financing for travel products and services, the companies said in a Tuesday (Sept. 10) press release.\nThe partnership is expected to go live by the end of the third quarter, according to the release.\n\u201cBNPL is an essential payment option for travel merchants to provide their customers,\u201d Zach Ornelas, senior vice president of global sales at UATP, said in the release. \u201cIt offers flexibility and convenience to encourage travelers to complete transactions and boost conversion rates.\u201d\nThe new partnership strengthens UATP\u2019s support for BNPL options and helps its merchants tap into the growing BNPL market, according to the release.\nIt also gives Klarna immediate access to the airlines and travel agencies that are among UATP\u2019s, the release said.\nTogether, the companies enable airlines and other travel merchants on the UATP network to add BNPL more quickly, per the release.\n\u201cTravel is perfect for interest-free buy now, pay later, allowing travelers worldwide to spread the cost of their trips and without getting stuck paying sky-high credit card interest rates,\u201d Erin Jaeger, head of North America at Klarna, said in the release. \u201cThis agreement with UATP means we can quickly bring these benefits to many more airlines and tap into the huge growth opportunity which the $1 trillion travel industry represents for us.\u201d\nTravel and hospitality firms worldwide are increasing their investments in payment upgrades, according to the PYMNTS Intelligence and Ingo Payments collaboration, \u201cTravel Tips: Instant Payments for Tips and Payouts in Travel and Hospitality.\u201d\nKlarna has formed several partnerships in this space in recent months. The company expanded its partnership with travel company Expedia to offer flexible payments to travelers in the United States; teamed up with Uber to let users in the U.S., Germany and Sweden use Klarna\u2019s Pay Now option to cover the cost of their\u00a0next ride immediately and in full; and collaborated with luggage and travel accessories brand Away to offer BNPL options to that company\u2019s customers in the U.S., Canada and the United Kingdom.\nThe post Klarna and UATP Partner on Flexible Payment Options for Airlines appeared first on PYMNTS.com.", "date_published": "2024-09-10T10:25:17-04:00", "date_modified": "2024-09-10T10:25:17-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2023/11/travel.jpg", "tags": [ "airlines", "BNPL", "buy now pay later", "Klarna", "News", "partnerships", "PYMNTS News", "travel", "Travel Payments", "UATP", "What's Hot" ] }, { "id": "https://www.pymnts.com/?p=2079211", "url": "https://www.pymnts.com/travel-payments/2024/one-in-every-ten-dollars-globally-spent-on-travel-in-2024/", "title": "One in Every Ten Dollars Globally Spent on Travel in 2024", "content_html": "Travel spending will generate a record 10% of gross domestic product (GDP) this year.
\nThat’s according to a report Monday (Sept. 3) by Reuters, citing data from World Travel and Tourism Council (WTTC), a non-profit membership group.
\nThe WTTC estimates show the travel industry contributing $11.1 trillion to the worldwide GDP for 2024, up 12.1% last year, and 7.5% higher than the record set in 2019.
\n\u201cDespite some concerns last year about us going into a global recession and high inflation, this year we are looking at travel and tourism being a real economic powerhouse globally,\u201d said Julia Simpson, the council’s CEO.
\nAccording to the report, most of this spending will come from the U.S., China and Germany, with the travel sector supporting almost 348 million jobs, or 13.6 million jobs more than in 2019.
\nThe sector is still hiring, the report adds, with 1 million hospitality and leisure jobs open in the U.S., according to the U.S. Travel Association. Some 27 million people worked in the sector in the U.S. last year,\u00a0 the WTTC said.
\nAs PYMNTS wrote last month, the record spending in the sector has made staffing for travel companies a greater priority than ever before.
\n\u201cOutdated payment systems, however, have long posed significant challenges for travel and hospitality businesses, leading to slow payouts, delayed disbursements and reduced employee satisfaction and retention due to workers\u2019 inability to access digital tips promptly,\u201d that report said. \u201cA recent survey revealed that 66% of travel firms believe their current payment systems negatively impact their profit margins, primarily because of difficulties in retaining top talent.\u201d
\nThe use of digital instant payment systems could greatly help offset these issues. For example, nearly 80% of workers said they would choose to receive instant tip payouts if available, yet their employers don’t provide them with this option. This gap represents a considerable opportunity for travel and hospitality companies.
\nMore recently, PYMNTS examined the \u201cgradual pace of digital adoption in the travel sector,\u201d noting that it offers a mix of challenges and opportunities. The industry needs to persuade a large portion of consumers to switch to online tools, but it also stands to benefit from a growing market of tech-savvy travelers.
\n\u201cBy developing intuitive platforms, offering tailored recommendations and ensuring smooth booking processes, travel companies can expedite their digital transformation and meet the demands of today\u2019s travelers,\u201d PYMNTS wrote. \u201cStill, incorporating advanced technologies such as artificial intelligence and virtual reality could further refine the digital travel experience and attract new clientele.\u201d
\nThe post One in Every Ten Dollars Globally Spent on Travel in 2024 appeared first on PYMNTS.com.
\n", "content_text": "Travel spending will generate a record 10% of gross domestic product (GDP) this year.\nThat’s according to a report Monday (Sept. 3) by Reuters, citing data from World Travel and Tourism Council (WTTC), a non-profit membership group.\nThe WTTC estimates show the travel industry contributing $11.1 trillion to the worldwide GDP for 2024, up 12.1% last year, and 7.5% higher than the record set in 2019.\n\u201cDespite some concerns last year about us going into a global recession and high inflation, this year we are looking at travel and tourism being a real economic powerhouse globally,\u201d said Julia Simpson, the council’s CEO.\nAccording to the report, most of this spending will come from the U.S., China and Germany, with the travel sector supporting almost 348 million jobs, or 13.6 million jobs more than in 2019.\nThe sector is still hiring, the report adds, with 1 million hospitality and leisure jobs open in the U.S., according to the U.S. Travel Association. Some 27 million people worked in the sector in the U.S. last year,\u00a0 the WTTC said.\nAs PYMNTS wrote last month, the record spending in the sector has made staffing for travel companies a greater priority than ever before.\n\u201cOutdated payment systems, however, have long posed significant challenges for travel and hospitality businesses, leading to slow payouts, delayed disbursements and reduced employee satisfaction and retention due to workers\u2019 inability to access digital tips promptly,\u201d that report said. \u201cA recent survey revealed that 66% of travel firms believe their current payment systems negatively impact their profit margins, primarily because of difficulties in retaining top talent.\u201d\nThe use of digital instant payment systems could greatly help offset these issues. For example, nearly 80% of workers said they would choose to receive instant tip payouts if available, yet their employers don’t provide them with this option. This gap represents a considerable opportunity for travel and hospitality companies.\nMore recently, PYMNTS examined the \u201cgradual pace of digital adoption in the travel sector,\u201d noting that it offers a mix of challenges and opportunities. The industry needs to persuade a large portion of consumers to switch to online tools, but it also stands to benefit from a growing market of tech-savvy travelers.\n\u201cBy developing intuitive platforms, offering tailored recommendations and ensuring smooth booking processes, travel companies can expedite their digital transformation and meet the demands of today\u2019s travelers,\u201d PYMNTS wrote. \u201cStill, incorporating advanced technologies such as artificial intelligence and virtual reality could further refine the digital travel experience and attract new clientele.\u201d\nThe post One in Every Ten Dollars Globally Spent on Travel in 2024 appeared first on PYMNTS.com.", "date_published": "2024-09-03T06:59:38-04:00", "date_modified": "2024-09-03T07:07:51-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2024/08/air-travel.jpg", "tags": [ "hospitality", "leisure", "News", "PYMNTS News", "travel", "travel industry", "travel sector", "What's Hot", "World Travel and Tourism Council", "WTTC", "Travel Payments" ] }, { "id": "https://www.pymnts.com/?p=2054158", "url": "https://www.pymnts.com/travel-payments/2024/expedia-airbnb-and-booking-holdings-look-to-elevate-customer-engagement/", "title": "Travel Platforms Reroute Strategies to Elevate Customer Engagement", "content_html": "As inflation reshapes consumer spending, travel giants Expedia, Airbnb\u00a0and Booking Holdings are adjusting their strategies to drive customer engagement and bookings amid shifting family budgets and evolving preferences.
\nExpedia is enhancing its One Key loyalty program with a co-branded credit card and expanding its global reach to boost cross-brand engagement. Airbnb is prioritizing unique experiences by adding new quality features like Guest Favorites and Airbnb Icons to increase customer engagement. Meanwhile, Booking Holdings is expanding its Genius loyalty program across accommodations, flights and car rentals to increase customer engagement.
\nIn addition to these efforts, Priceline is advancing its payments orchestration strategy to streamline transactions and enhance the booking experience. Recently, Sabre Corp. and Priceline announced a new multi-year agreement aimed at advancing travel retailing. Under the expanded partnership, Priceline will implement Sabre Direct Pay to enhance its payment process with improved security and automation. Additionally, Priceline will use Sabre\u2019s GDS content and shopping APIs to provide a larger selection of flight and package options.
\nThese initiatives by Expedia, Airbnb and Booking Holdings arrive during changes in spending behaviors among U.S. families. A PYMNTS Intelligence report, \u201cThe Last Transaction: Family Spending Habits Reveal Merchant Opportunities in Retail and Travel,\u201d reveals shifts in spending due to inflation.
\nParents with children at home have notably reduced their discretionary spending, despite generally higher incomes. The report shows that 62% of married parents with children earn more than $100,000 annually, but these families have cut back on retail purchases from an average of $147 in 2022 to $114 in 2024.
\nDespite being 77% more likely to make travel purchases, parents with children have cut their travel spending by 11% year-over-year, while childless households have increased their travel expenditure, averaging $620 annually and reaching up to $754 for older individuals. Retailers and travel companies are advised to adapt their strategies to these shifting consumer behaviors and economic pressures.
\nExpedia continues to leverage its consumer brands, including Expedia, Hotels.com\u00a0and Vrbo, through its One Key loyalty program, which is available in the U.S. and is set to launch in the U.K. Vrbo benefited from more cross-shoppers via its One Key loyalty program during the second quarter, Expedia CEO Ariane Gorin noted during the company\u2019s second-quarter earnings call.
\n\u201cNearly 30% of travelers that earned One Key Cash on either Brand Expedia or Hotels.com and then redeemed it on Vrbo were completely new to Vrbo,\u201d Gorin said. \u201cOne Key is a great source of new travelers for the brand. We\u2019re super pleased to see our large growing member base enjoy the flexibility to earn and burn One Key Cash across our three core brands and get great tiered member discounts. Customers who redeem One Key Cash or use member discounts repeat more often. So, this gives us a lot of confidence that the benefits of One Key will build further over time.\u201d
\nOne Key allows travelers to earn and redeem rewards across its extensive marketplace, which includes flights, hotels, vacation homes, car rentals, cruises and activities. This integration means that rewards earned from a Vrbo vacation rental can be used for a flight on Expedia or a hotel stay on Hotels.com, offering members various travel options and elevating the travel rewards experience.
\nDuring Airbnb\u2019s Q2 2024 earnings call, CEO Brian Chesky outlined the company\u2019s commitment to increasing customer engagement through major quality and user experience improvements. Chesky detailed efforts such as the removal of more than 200,000 subpar listings, the introduction of popular features like \u201cGuest Favorites,” and the launch of Airbnb Icons to highlight unique experiences.
\nSince Airbnb launched Guest Favorites nine months ago, there have been more than 150 million nights booked at \u201cthese highly rated listings,\u201d Chesky noted.
\nAirbnb is also expanding its offerings beyond traditional accommodations with the launch of Airbnb Icons, a new category of extraordinary experiences.
\n\u201cSince launch, we\u2019ve seen nearly 40 million views of icons on our site,\u201d Chesky said, adding the initiative is designed to shift perceptions and highlight Airbnb\u2019s diverse range of offerings.
\nChesky said Airbnb is focusing on experiences, including overnight stays at life-sized toy sets like the Polly Pocket house in Massachusetts and Prince\u2019s Purple Rain house in Minneapolis. But he realizes awareness is the key to engaging consumers and earning their loyalty.
\n\u201cYou wouldn\u2019t know we sell experiences,\u201d he explained. \u201cMost people don\u2019t know we offer experiences even though we launched them eight years ago. So, we\u2019re going to actually market them and tell the world about them.\u201d
\nThere is no doubt about the impact on customer engagement from the Genius loyalty program, according to Booking Holdings CEO\u00a0Glenn Fogel.
\n\u201cOur Genius loyalty program at Booking.com plays an important role in helping to drive more travelers to choose to book directly with us over time,\u201d Fogel explained during the company\u2019s Q2 earnings call.
\n\u201cWe see a meaningfully higher direct booking mix for Genius users versus other users,\u201d he added. \u201cAnd that direct mix percentage steps up at each higher level of Genius status. We are encouraged to see continued success and more of our travelers moving into the higher Genius tiers of Levels 2 and 3, which now represent nearly 30% of our active travelers.
\n\u201cIn addition to a higher direct booking rate, we also see higher booking frequency from our Genius Level 2 and 3 travelers when compared to our overall business,\u201d Fogel continued. \u201cIn Q2, we drove more Genius benefits to our travelers with a 15% year-over-year increase in benefits. This is primarily driven by accommodation bookings.\u201d
\nLaunched in 2013, the Genius loyalty program has three tiers:
\nBooking Holdings comprises five primary consumer-facing brands: Booking.com, Priceline, Agoda, Kayak and\u00a0OpenTable. A network of subsidiary brands includes Rocketmiles, Fareharbor, HotelsCombined, Cheapflights\u00a0and Momondo.
\nThe post Travel Platforms Reroute Strategies to Elevate Customer Engagement appeared first on PYMNTS.com.
\n", "content_text": "As inflation reshapes consumer spending, travel giants Expedia, Airbnb\u00a0and Booking Holdings are adjusting their strategies to drive customer engagement and bookings amid shifting family budgets and evolving preferences.\nExpedia is enhancing its One Key loyalty program with a co-branded credit card and expanding its global reach to boost cross-brand engagement. Airbnb is prioritizing unique experiences by adding new quality features like Guest Favorites and Airbnb Icons to increase customer engagement. Meanwhile, Booking Holdings is expanding its Genius loyalty program across accommodations, flights and car rentals to increase customer engagement.\nIn addition to these efforts, Priceline is advancing its payments orchestration strategy to streamline transactions and enhance the booking experience. Recently, Sabre Corp. and Priceline announced a new multi-year agreement aimed at advancing travel retailing. Under the expanded partnership, Priceline will implement Sabre Direct Pay to enhance its payment process with improved security and automation. Additionally, Priceline will use Sabre\u2019s GDS content and shopping APIs to provide a larger selection of flight and package options.\nChange in Family Spending\nThese initiatives by Expedia, Airbnb and Booking Holdings arrive during changes in spending behaviors among U.S. families. A PYMNTS Intelligence report, \u201cThe Last Transaction: Family Spending Habits Reveal Merchant Opportunities in Retail and Travel,\u201d reveals shifts in spending due to inflation.\nParents with children at home have notably reduced their discretionary spending, despite generally higher incomes. The report shows that 62% of married parents with children earn more than $100,000 annually, but these families have cut back on retail purchases from an average of $147 in 2022 to $114 in 2024.\nDespite being 77% more likely to make travel purchases, parents with children have cut their travel spending by 11% year-over-year, while childless households have increased their travel expenditure, averaging $620 annually and reaching up to $754 for older individuals. Retailers and travel companies are advised to adapt their strategies to these shifting consumer behaviors and economic pressures.\nExpedia Leans Into Loyalty\nExpedia continues to leverage its consumer brands, including Expedia, Hotels.com\u00a0and Vrbo, through its One Key loyalty program, which is available in the U.S. and is set to launch in the U.K. Vrbo benefited from more cross-shoppers via its One Key loyalty program during the second quarter, Expedia CEO Ariane Gorin noted during the company\u2019s second-quarter earnings call.\n\u201cNearly 30% of travelers that earned One Key Cash on either Brand Expedia or Hotels.com and then redeemed it on Vrbo were completely new to Vrbo,\u201d Gorin said. \u201cOne Key is a great source of new travelers for the brand. We\u2019re super pleased to see our large growing member base enjoy the flexibility to earn and burn One Key Cash across our three core brands and get great tiered member discounts. Customers who redeem One Key Cash or use member discounts repeat more often. So, this gives us a lot of confidence that the benefits of One Key will build further over time.\u201d\nOne Key allows travelers to earn and redeem rewards across its extensive marketplace, which includes flights, hotels, vacation homes, car rentals, cruises and activities. This integration means that rewards earned from a Vrbo vacation rental can be used for a flight on Expedia or a hotel stay on Hotels.com, offering members various travel options and elevating the travel rewards experience.\nAirbnb Ramps Up Experiences\nDuring Airbnb\u2019s Q2 2024 earnings call, CEO Brian Chesky outlined the company\u2019s commitment to increasing customer engagement through major quality and user experience improvements. Chesky detailed efforts such as the removal of more than 200,000 subpar listings, the introduction of popular features like \u201cGuest Favorites,” and the launch of Airbnb Icons to highlight unique experiences.\nSince Airbnb launched Guest Favorites nine months ago, there have been more than 150 million nights booked at \u201cthese highly rated listings,\u201d Chesky noted.\nAirbnb is also expanding its offerings beyond traditional accommodations with the launch of Airbnb Icons, a new category of extraordinary experiences.\n\u201cSince launch, we\u2019ve seen nearly 40 million views of icons on our site,\u201d Chesky said, adding the initiative is designed to shift perceptions and highlight Airbnb\u2019s diverse range of offerings.\nChesky said Airbnb is focusing on experiences, including overnight stays at life-sized toy sets like the Polly Pocket house in Massachusetts and Prince\u2019s Purple Rain house in Minneapolis. But he realizes awareness is the key to engaging consumers and earning their loyalty.\n\u201cYou wouldn\u2019t know we sell experiences,\u201d he explained. \u201cMost people don\u2019t know we offer experiences even though we launched them eight years ago. So, we\u2019re going to actually market them and tell the world about them.\u201d\nCustomer Engagement \nThere is no doubt about the impact on customer engagement from the Genius loyalty program, according to Booking Holdings CEO\u00a0Glenn Fogel.\n\u201cOur Genius loyalty program at Booking.com plays an important role in helping to drive more travelers to choose to book directly with us over time,\u201d Fogel explained during the company\u2019s Q2 earnings call.\n\u201cWe see a meaningfully higher direct booking mix for Genius users versus other users,\u201d he added. \u201cAnd that direct mix percentage steps up at each higher level of Genius status. We are encouraged to see continued success and more of our travelers moving into the higher Genius tiers of Levels 2 and 3, which now represent nearly 30% of our active travelers.\n\u201cIn addition to a higher direct booking rate, we also see higher booking frequency from our Genius Level 2 and 3 travelers when compared to our overall business,\u201d Fogel continued. \u201cIn Q2, we drove more Genius benefits to our travelers with a 15% year-over-year increase in benefits. This is primarily driven by accommodation bookings.\u201d\nLaunched in 2013, the Genius loyalty program has three tiers:\n\nLevel 1: 10% discount on stays.\nLevel 2: Earned after five stays, offering up to 15% off, complimentary breakfast and free upgrades.\nLevel 3: Achieved after 15 stays, providing up to 10% off, breakfast, upgrades and exclusive travel deals.\n\nBooking Holdings comprises five primary consumer-facing brands: Booking.com, Priceline, Agoda, Kayak and\u00a0OpenTable. A network of subsidiary brands includes Rocketmiles, Fareharbor, HotelsCombined, Cheapflights\u00a0and Momondo.\nThe post Travel Platforms Reroute Strategies to Elevate Customer Engagement appeared first on PYMNTS.com.", "date_published": "2024-08-16T17:20:21-04:00", "date_modified": "2024-08-18T21:05:27-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2024/08/travel-customer-engagement-tourism.png", "tags": [ "Airbnb", "airlines", "Ariane Gorin", "Booking Holdings", "bookings", "Brian Chesky", "Earnings", "Expedia", "Experiences", "Featured News", "Flights", "Glenn fogel", "hospitality", "loyalty", "memberships", "News", "PYMNTS News", "reservations", "Tourism", "travel", "Travel Payments" ] }, { "id": "https://www.pymnts.com/?p=2054138", "url": "https://www.pymnts.com/travel-payments/2024/private-jet-demand-dips-prices-rise-covid-fears-fade/", "title": "Private Jet Demand Dips as Prices Rise and COVID Fears Fade", "content_html": "Private jet charter flights reportedly experienced a decline of 15% in the first half of this year compared to their peak in 2022.
\nThe drop in demand can be partly attributed to a waning of the surge in demand caused by the pandemic and to the emergence of a new competitive landscape for high-end travel, CNBC reported Friday (Aug. 16).
\nThe number of private jet charter flights dropped to 610,000 in the first half of this year, down from 645,000 during the same period last year and 716,000 in 2022, the report said, citing data from Argus International.
\nThe decline in demand reflects an ongoing correction in the private aviation sector, per the report. During the pandemic\u2019s peak, there was a surge in new jet card members and charter fliers who opted for private travel for the first time. However, many of these travelers, even ultra-wealthy ones, have now returned to commercial flights.
\nThe decline in private jet charter flights can be traced back to the impact of the pandemic, according to the report. When airports and airlines shut down in 2020, private jets provided an escape and a safer way to travel. Wealthy travelers who had previously been reluctant to fly private due to cost and environmental concerns found a reason to do so. At the same time, government spending, stimulus packages, low interest rates and a booming stock market created wealth that could be used to cover the costs of private travel.
\nHowever, demand started to slip in 2023 as some travelers no longer felt they could use COVID as an excuse to fly privately, the report said. The soaring prices of private flights also became a deterrent for many individuals. Prices are now about 20% higher than they were in 2019.
\nAs a result, some fliers have opted to mix commercial and private flights or switch between airlines and private jets depending on their travel needs, per the report.
\nThe report comes at a time when consumers are delaying or cutting back on a variety of forms of travel and experiences. Online booking platforms, airlines, hotels and other companies in the sector noted the trend in recent earnings calls, attributing it to an uncertain economic outlook.
\nThe post Private Jet Demand Dips as Prices Rise and COVID Fears Fade appeared first on PYMNTS.com.
\n", "content_text": "Private jet charter flights reportedly experienced a decline of 15% in the first half of this year compared to their peak in 2022.\nThe drop in demand can be partly attributed to a waning of the surge in demand caused by the pandemic and to the emergence of a new competitive landscape for high-end travel, CNBC reported Friday (Aug. 16).\nThe number of private jet charter flights dropped to 610,000 in the first half of this year, down from 645,000 during the same period last year and 716,000 in 2022, the report said, citing data from Argus International.\nThe decline in demand reflects an ongoing correction in the private aviation sector, per the report. During the pandemic\u2019s peak, there was a surge in new jet card members and charter fliers who opted for private travel for the first time. However, many of these travelers, even ultra-wealthy ones, have now returned to commercial flights.\nThe decline in private jet charter flights can be traced back to the impact of the pandemic, according to the report. When airports and airlines shut down in 2020, private jets provided an escape and a safer way to travel. Wealthy travelers who had previously been reluctant to fly private due to cost and environmental concerns found a reason to do so. At the same time, government spending, stimulus packages, low interest rates and a booming stock market created wealth that could be used to cover the costs of private travel.\nHowever, demand started to slip in 2023 as some travelers no longer felt they could use COVID as an excuse to fly privately, the report said. The soaring prices of private flights also became a deterrent for many individuals. Prices are now about 20% higher than they were in 2019.\nAs a result, some fliers have opted to mix commercial and private flights or switch between airlines and private jets depending on their travel needs, per the report.\nThe report comes at a time when consumers are delaying or cutting back on a variety of forms of travel and experiences. Online booking platforms, airlines, hotels and other companies in the sector noted the trend in recent earnings calls, attributing it to an uncertain economic outlook.\nThe post Private Jet Demand Dips as Prices Rise and COVID Fears Fade appeared first on PYMNTS.com.", "date_published": "2024-08-16T16:32:26-04:00", "date_modified": "2024-08-16T16:32:26-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2024/08/private-jet-travel-payments.jpg", "tags": [ "Coronavirus", "economy", "News", "PYMNTS News", "travel", "Travel Payments", "What's Hot" ] }, { "id": "https://www.pymnts.com/?p=2026072", "url": "https://www.pymnts.com/travel-payments/2024/airbnb-travelers-delay-booking-accommodations-amid-macro-uncertainty/", "title": "Airbnb: Travelers Delay Booking Accommodations Amid Macro Uncertainty", "content_html": "Airbnb has seen shorter booking lead times in recent weeks, with customers around the world booking their accommodations closer to their expected time of arrival.
\nA growing share of customers are booking just days or a couple of weeks in advance, Airbnb executives said Tuesday (Aug. 6) during the company\u2019s quarterly earnings call.
\nThis trend first appeared in July and has grown strong since then, after a first and second quarter in which the lead times were basically the same as what Airbnb saw a year earlier.
\nThe company has seen this happen before during times of uncertainty, executives said.
\n\u201cOver the last couple of years, as we emerged from COVID, there were several periods where we saw some volatility in terms of overall lead times, and in particular some hesitancy for consumers to book those longer lead time trips,\u201d Ellie Mertz, chief financial officer at Airbnb, said during the call. \u201cI suspect that\u2019s what we\u2019re seeing right now.\u201d
\nMertz added that this trend doesn\u2019t necessarily mean that consumers are not going to book the trip, it\u2019s just that they haven\u2019t booked it yet.
\nLater in the call, Airbnb CEO Brian Chesky said that the growth rates of last-minute bookings are \u201cincredibly strong,\u201d while the concentration of bookings that happen more than a month in advance has shown \u201ca modest amount of softness.\u201d
\n\u201cI think what we\u2019ve seen in the past is, from time to time, whether it be a new COVID variant, whether it be a macro headline, whether it be, like last year, the outbreak of war in Israel, people from time to time have moments where they are not booking in the same time frame that they did in prior periods,\u201d Chesky said. \u201cThat\u2019s what we\u2019re tracking right now.\u201d
\nThe executives made these remarks while reporting that, during the second quarter, Airbnb saw year-over-year gains of 9% in nights and experiences booked, 11% in gross booking value (GBV) and 11% in revenue.
\nThe bookings saw growth across all regions, and the gains in GBV and revenue were driven by the growth in bookings and a \u201cmodest increase\u201d in average daily rate (ADR), Airbnb said in a shareholder letter released Tuesday in conjunction with the earnings call.
\nLooking ahead, Airbnb expects to see year-over-year revenue growth of 8% to 10% during the current quarter, with the growth of nights and experiences booked moderating and the booking lead times continuing to be shorter, according to the letter.
\nThe post Airbnb: Travelers Delay Booking Accommodations Amid Macro Uncertainty appeared first on PYMNTS.com.
\n", "content_text": "Airbnb has seen shorter booking lead times in recent weeks, with customers around the world booking their accommodations closer to their expected time of arrival.\nA growing share of customers are booking just days or a couple of weeks in advance, Airbnb executives said Tuesday (Aug. 6) during the company\u2019s quarterly earnings call.\nThis trend first appeared in July and has grown strong since then, after a first and second quarter in which the lead times were basically the same as what Airbnb saw a year earlier.\nThe company has seen this happen before during times of uncertainty, executives said.\n\u201cOver the last couple of years, as we emerged from COVID, there were several periods where we saw some volatility in terms of overall lead times, and in particular some hesitancy for consumers to book those longer lead time trips,\u201d Ellie Mertz, chief financial officer at Airbnb, said during the call. \u201cI suspect that\u2019s what we\u2019re seeing right now.\u201d\nMertz added that this trend doesn\u2019t necessarily mean that consumers are not going to book the trip, it\u2019s just that they haven\u2019t booked it yet.\nLater in the call, Airbnb CEO Brian Chesky said that the growth rates of last-minute bookings are \u201cincredibly strong,\u201d while the concentration of bookings that happen more than a month in advance has shown \u201ca modest amount of softness.\u201d\n\u201cI think what we\u2019ve seen in the past is, from time to time, whether it be a new COVID variant, whether it be a macro headline, whether it be, like last year, the outbreak of war in Israel, people from time to time have moments where they are not booking in the same time frame that they did in prior periods,\u201d Chesky said. \u201cThat\u2019s what we\u2019re tracking right now.\u201d\nThe executives made these remarks while reporting that, during the second quarter, Airbnb saw year-over-year gains of 9% in nights and experiences booked, 11% in gross booking value (GBV) and 11% in revenue.\nThe bookings saw growth across all regions, and the gains in GBV and revenue were driven by the growth in bookings and a \u201cmodest increase\u201d in average daily rate (ADR), Airbnb said in a shareholder letter released Tuesday in conjunction with the earnings call.\nLooking ahead, Airbnb expects to see year-over-year revenue growth of 8% to 10% during the current quarter, with the growth of nights and experiences booked moderating and the booking lead times continuing to be shorter, according to the letter.\nThe post Airbnb: Travelers Delay Booking Accommodations Amid Macro Uncertainty appeared first on PYMNTS.com.", "date_published": "2024-08-06T22:00:47-04:00", "date_modified": "2024-08-06T22:00:47-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2024/08/Airbnb-earnings-1.jpg", "tags": [ "Airbnb", "Brian Chesky", "Earnings", "Ellie Mertz", "News", "PYMNTS News", "travel booking", "Travel Payments", "What's Hot" ] } ] }