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Tag: BTIQ-Enl

  • Tripism Expands to SMEs Through TMC Partnership

    Tripism Expands to SMEs Through TMC Partnership

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    Corporate travel engagement platform Tripism is expanding into the small- and medium-sized business sector via a partnership with U.K.-based travel management company Good Travel Management, Tripism announced.

    The partnership lets GTM clients access the Tripism platform, which consolidates information from suppliers, travel teams and travelers and can provide such updates as policy changes or supplier news. It is the first time for the platform to be accessible to SME customers, having previously concentrating on large clients, such as pilot customer Microsoft.

    “Partnering with Tripism, a leader in the field, allows our clients access to consolidated travel information and a single access point for their global travel program, even when using multiple TMCs and OBTs, providing a unified, personalized and automatically updated interface for their travelers,” GTM commercial director Laura Busby said in a statement. The TMC currently is in the process of implementing it with its first customer, professional services firm Gunnercooke, she added.

    Tripism plans to expand its partnerships with additional TMCs in the future, according to founder and CEO Adam Kerr.

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  • Avianca CEO Neuhauser to Head Holding Co.

    Avianca CEO Neuhauser to Head Holding Co.

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    Abra Group, the holding company of Avianca and GOL airlines, has named current Avianca CEO Adrian Neuhauser as CEO of the holding company, Abra announced Tuesday. Meanwhile, Frederico Pedreira will replace Neuhauser as CEO and president of Avianca. The changes are to take effect beginning January 2024.

    Neuhauser, who joined Avianca in 2019 as CFO, will retain his position as executive vice chairman of Avianca. Pedreira in September became deputy CEO of Avianca after having served as chief operating officer since 2021. 

    RELATED: Avianca Names COO Pedreira as Deputy CEO

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  • HRS Adds Emissions Compensation Extension to Green Stay

    HRS Adds Emissions Compensation Extension to Green Stay

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    Corporate lodging platform HRS has launched an extension to its Green Stay Initiative that allows hotels to compensate for “unavoidable emissions” linked to corporate travel, the company announced last week.

    HRS’s Emissions Compensation Program is available to Green Stay Initiative participants and free to join but requires an “investment” from hotels to cover CO2 emissions, according to HRS. Following corporate stays booked through HRS interfaces, compensation costs are calculated per night, per room and typically equate to 1 percent of the hotel’s average daily rate, according to HRS. These charges go directly to “verifiable high-quality projects” that focus on “carbon removal and avoidance,” according to HRS, to offset hotels’ corporate CO2 emissions.

    The investment “effectively facilitates an automated process for high-performing Green Stay hotels to compensate for unavoidable emissions related to the stay of corporate travelers,” the company said.

    Compensation offerings “complement” corporate lodging programs that are taking “active steps towards Net Zero operations,” HRS CEO Tobias Ragge said in a statement, adding that ECP leverages tech to “enhance sustainability attributes and support quality carbon reduction activities that can be tracked and reported by corporations.”

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  • American Asks DOT to Dismiss ASTA NDC Complaint

    American Asks DOT to Dismiss ASTA NDC Complaint

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    American Airlines in a new filing with the U.S. Department of Transportation called the American Society of Travel Advisors complaint against the carrier over its distribution strategy “a frivolous compilation of rhetoric and unsupported allegations that have little, if anything, to do with the alleged basis for the complaint.” American also asked the agency to dismiss the complaint, according to its filing, dated Tuesday. 

    ASTA had requested that DOT require American to restore all its content to EDIFACT distribution channels after the carrier in April began to remove up to 40 percent of that content and make it available only through direct or New Distribution Capability-enabled channels.

    In its complaint, ASTA said that removal of that content caused significant price disparities between EDIFACT and the newer NDC-based channels, “with the established channel almost invariably being the higher-priced option.”

    The carrier in its response argued that “ASTA’s complaint is not an effort to protect consumers: it is an effort to protect certain agencies” and it would “slow the pace of innovation for those agencies that have not invested in new technologies or adjusted old ways of doing business.”

    It also noted that “NDC is not new anymore” and that “NDC makes it possible for American to offer more options to consumers at lower prices and with better service—an increase in competition that is driving other U.S. airlines to also adopt NDC-based technologies.”

    Several international airlines this year have expanded their NDC offerings, as did United Airlines—which also pulled Basic Economy fares from EDIFACT in September. Delta Air Lines has said that it is aiming to introduce a NDC solution at some point in 2024.

    “There simply is no colorable, consumer-centric basis for ASTA’s complaints,” American said. “Absent was any credible evidence that consumers are being harmed—that they are somehow facing increased fares or reduced capacity as a result of NDC. Rather, ASTA admits, as it must, that all fares remain available to all consumers and that every fare is viewable and comparable in every channel. And contrary to ASTA’s allegations, no agency is being forced to use NDC. Agencies are free to choose between investing in new technology that allows them to consume the richer, more complex NDC dataset or to remain fixed within the EDIFACT environment.”

    ASTA declined immediate comment on American’s filing.

    RELATED: ASTA Asks DOT to Require AA to Return Fares to EDIFACT

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  • FCM Projects Growing Demand, Stabilizing Prices for 2024

    FCM Projects Growing Demand, Stabilizing Prices for 2024

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    Global travel costs have stabilized, and business travel volumes and budgets are poised to increase in 2024, according to FCM Consulting’s Global Quarterly Trend Report published on Wednesday.

    The report, based on FCM’s corporate booking data from July through September, indicates “that North America is leading the globe in many key areas including airline seat growth, passenger load factors and general travel heading into 2024,” according to FCM Consulting director for the Americas Ashley Gutermuth. U.S. travel demand particularly stands out in load factors as reported by the International Air Transport Association, with the U.S. domestic load factor at 84.5 percent in the third quarter, above the global domestic average of 83.5 percent, and North America’s international load factor at 87.7 percent, above the global average of 85.4 percent.

    North America also is trending higher for airline seat capacity next year, according to FCM. Available seats in the first quarter of 2024 are expected to be 8 percent higher than 2019 levels, compared to a 5.3 percent increase globally, the report indicated.

    FCM projects global airfares will increase between 3 percent and 7 percent next year compared with this year, driven in part by inflation.

    In lodging, FCM reports that corporate average room rates have “plateaued” over the past six months. In North America, corporate rates declined 4 percent in the third quarter compared with the previous quarter, with some of the largest declines in New York (down 6 percent) and Chicago (down 3 percent).

    Car rental rates this year are up 4 percent globally compared with 2022, though rates in the U.S. are down 1 percent, according to FCM’s report. Next year, those increases should moderate to a 2 percent to 3 percent increase year over year, FCM said.

    With overall travel demand growing, albeit at a more moderate pace than the earlier stages of the post-pandemic recovery, and prices stabilizing, “the data suggests that travel budgets and business travel will again increase in 2024, pending economic conditions and geopolitical issues,” according to FCM.

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  • STR: October U.S. Hotel Rates Rise, Occupancy Slips

    STR: October U.S. Hotel Rates Rise, Occupancy Slips

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    Average daily rate and revenue per available room among U.S. hotels in October increased year over year as occupancy fell, according to hotel analytics firm STR. 

    October U.S. hotel ADR was $161.56, up 3 percent year over year and slightly above September’s $160.18. RevPAR was $106.38 for the month, up 1.2 percent year over year and up slightly from September. 

    U.S. hotel occupancy in October was 65.8 percent, down 1.8 percent year over year and down from September’s 66.2 percent.

    While the U.S. hotel industry in October reported “mixed performance results from the previous month,” according to STR, results among STR’s top 25 markets remained steady. 

    New York City again reported the highest occupancy level for the month at 86.8 percent, up 3 percent year over year. Houston had the lowest occupancy among the top 25 markets in October at 59.5 percent, with St. Louis next at 59.8 percent. 

    Additionally, STR’s top 25 markets “showed higher occupancy and ADR than all other markets,” the company said.

    RELATED: STR September U.S. hotel data

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  • Experts: Duty of Care For Guest Travelers Legally Murky but Morally Clearer

    Experts: Duty of Care For Guest Travelers Legally Murky but Morally Clearer

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    As companies find increasing options to bring guest travelers into their managed travel programs, questions persist about their precise responsibility for those travelers’ safety and security.

    Guest travel, be it by non-profiled employees or such nonemployees as contractors or job applicants, typically makes up between 7 percent and 15 percent of a company’s overall travel spending, Serko SVP of sales Mike Daly said in a recent BTN webinar on guest travel management. While duty of care to traveling employees is clearly defined from a legal standpoint, what about nonemployees?

    With contractors, such responsibilities usually are explicitly outlined in contracts, said Henning Snyman, Americas security director for travel risk management firm International SOS.

    “If you contract someone in, it will stipulate if they should have their own insurance in place or rely on their own insurance companies,” he said. “In most cases, it is the norm that organizations do extend duty of care to contractors as well.”

    For nonemployees not covered by contracts, it’s a bit murkier. ISO 31030 guidelines, for example, cover a company’s ability to communicate and track “travelers,” which could extend to anyone traveling on behalf of the company, such as an invited guest speaker or temporary staff, Snyman said. Still, it’s a bit of a “legal gray area,” he said.

    Erring on the side of caution is prudent from the legal standpoint, of course.

    “Liability is an interesting concept,” said Julie Deppe, director of product management for risk management firm Everbridge. “Much of it is set by precedent when something happens and potentially how people react to that.”

    Legality or Morality?

    Beyond the legal question, of course, is a moral question, which duty-of-care providers said is less ambiguous.

    “Our feeling is that an organization, whether it’s a large, privately held company, a government agency, a university, a school or a hospital, it’s the wider stakeholder network that should be provided safety awareness,” said Michael Becker, CEO of risk assessment tech provider GeoSure.

    Both travel managers in BTN’s webinar, Meta travel technology manager Shane Earley and GE travel project and purchasing card leader Dave Schaber, said that is their approach. Earley said Meta shares information with ISOS and its internal security team whether a traveler is an employee or not, and Schaber said third-party travelers are included in GE duty-of-care programs as well.

    “I can’t speak to the legality of it, but we feel it’s the best approach for us,” Schaber said. “We’re treating them as employees as far as duty of care goes.”


    I’ve had companies tell me that they prefer not to have us get involved with those guest travelers, that they want a different mechanism to deal with that. I think that’s short-sighted.”

    – BCD Travel’s Kathy Bedell


    Even so, it’s certainly not the universal approach.

    “I’ve had companies tell me that they prefer not to have us get involved with those guest travelers, that they want a different mechanism to deal with that,” BCD Travel SVP Kathy Bedell said. “I think that’s short-sighted. You have contracted them for something, so you have an agreement with that individual.”

    Even in cases where contracts stipulate that contractors are responsible for their own insurance, that contractor might be relying on basic travel insurance, which ticks the requirement box, Snyman said. However, perhaps they didn’t disclose to that insurance provider that they would be on a remote site that is beyond their contractual coverage. Would a company then simply walk away if a situation arises?

    “The reputational risk could be massive,” Snyman said.

    That might become clearer when actual emergencies arrive. In some evacuations that ISOS have handled over the past few years, 60 percent to 70 percent of evacuees have been people who were not employees of the organization doing the evacuation, according to Snyman.

    “The responsibility they took on was based on moral and ethical principles, not a legal requirement,” he said.

    Clear Communication Key

    In many cases, extending protection to guest travelers is not a matter of changing relationships with existing suppliers. ISOS, for example, makes no distinction between employees and nonemployees when it considers to whom it is providing information under a covered company, Snyman said. Similarly, GeoSure’s information is not exclusively only to employees of client companies, Becker said. The strategy, then, becomes more of a communication question.

    ISOS, for example, pushes out alerts to travelers who are signed up for email alerts, its app or via its traveler-tracking system. Those who are not permanent travelers for a company might not be signed up for those alerts or be part of that information flow, so a company needs to have a strategy to ensure they can get that information and know how to reach out for assistance. Actually getting the assistance is a bit easier, as ISOS works from a point of “assist first and ask questions later,” Snyman said.

    If a company has its own app for travelers, then extending access to that app for guest travelers can be fairly simple, Becker said. If they don’t have their own app, GeoSure can white-label a mobile tool they can use with any broader constituency base, he said.

    Everbridge has the capability to create contacts when it receives travel reservations if they do not match an existing contact in order to support guest travelers, Deppe said.

    “If you are a contractor coming in or a recruit coming in for an interview, we’ll create a temporary contact in our system and then automatically delete you if you haven’t been changed into a permanent contact 90 days post-travel,” she said. “It’s really important to us that, no matter what, no travelers are left behind.”

    Several travel management companies in recent years also have added solutions for guest travelers, which brings them into a program and makes servicing those travelers in emergencies easier as well. Among those that have added such solutions in recent years are Fox World TravelEgenciaAdelman TravelAmTrav and BCD.

    Some of it, however, just boils down to having a policy down on paper so a company can be clear about its responsibilities and limitations, Snyman said. Bedell said some industries in particular are leading the way around setting policies around guest travel—particularly media and entertainment, which deals with frequent high-touch guest travelers such as models or actors coming in to do shoots. 

    “There are a lot of things happening in our industry,” Bedell said. “It’s ever-changing, but it’s also an opportunity, so we need to lead.”

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  • Phocuswright Conf. Roundup: Tech Investment Slows

    Phocuswright Conf. Roundup: Tech Investment Slows

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    Global funding of travel technology companies has slowed to its weakest level in nearly a decade, though mergers and acquisitions in the broader travel space have proliferated in recent years, analysts said during the recent Phocuswright Conference.

    Phocuswright’s The State of Travel Funding 2023 report, published this month and which monitors more than 4,600 travel companies, showed that funding through the third quarter this year has been $3.1 billion and is on pace to be less than $4 billion by the end of the year. That would be the lowest level in about eight years, Phocuswright research and innovation manager Mike Coletta said at the conference. Comparatively, total funding for 2022 was $11.7 billion, and the previous year was an “incredible record-setting year” with $16.2 billion in investment.

    In terms of the number of funding rounds, this year also is shaping up to be the slowest in about a decade, Coletta said.

    “These drastic declines are mainly due to economic factors, rapidly rising interest rates, stubborn inflation and geopolitical tensions but also sky-high valuations that resulted from that bubble of 2021 and 2022,” according to Coletta. “As valuations are now dropping, follow-on funding is much harder to secure.”

    Mergers and acquisitions in the travel space, including corporate travel, have outpaced pre-pandemic levels in the past few years, according to research published by French travel investment bank Cambon Partners and Indian travel research company Videc.

    From the beginning of 2022 through the third quarter of 2023, 423 companies in the travel space have changed hands, the research indicated. During the same length of time from the beginning of 2018 through the third quarter of 2019, there were 389 deals.

    While companies focused on corporate travel make up a small proportion of those deals, “corporate travel has emerged as the flavor of the season with the number of deals doubling to 25 post-pandemic,” according to Videc cofounder and CEO Virendra Jain.

    The ratio of B-to-B compared with B-to-C funding rounds also “is continually trending up over time,” and B-to-B currently accounts for 46 percent of total funding rounds, compared with one-third a decade ago, Coletta said.

    “When Covid hit, people were willing to bury corporate travel like it was a dead industry, and that was a very big mistake,” Cambon Partners travel lead and partner Morgann Lesné told BTN during the conference. “The need of traveling for [business] is still the same, and people are willing to spend a little more money for that, so I’m very confident in the rebound of that space.”

    In geographic terms, Europe has been the busiest for travel M&A activity, representing 212 of the 423 deals in recent years, up from 154 in the pre-pandemic period, according to. Europe this year also has the largest share of funding for travel technology companies globally, which has “never happened before,” Coletta said.

    The hospitality sector has had the largest number of deals—149 in the recent period, up from 125 in the pre-pandemic period—and technology company deals have grown from 65 to 107, according to Lesné. In total, from 2014 through the third quarter of 2023, there have been a total of 1,758 travel companies sold, according to the research.

    Abbott Reports NDC Framework Compliance Progress

    American Express Global Business Travel’s “minimum framework” for New Distribution Capability content, its list of 162 items that airlines and others in the distribution chain need to fulfill before such content can be distributed in the Amex GBT marketplace, has been a “constructive step forward,” CEO Paul Abbott said during the conference.

    Those requirements stemmed from a lower level of standardization on the airline side compared with the hotel side—where currently about a quarter of Amex GBT’s transactions come outside of the global distribution systems, Abbott said. To date, there have been about a dozen changes to airline APIs as a result of the requirements, he said.

    Abbott also dismissed the “binary description” of new players that have an easier time implementing NDC versus established players that have a more difficult process as “rubbish,” saying “not all proven”—his chosen nomenclature in lieu of “legacy”—”TMCs are created equal.” About 77 percent of its transactions now are through digital channels, about 60 percent of which are on its own digital platforms, he said.

    “We have 10 airlines up and running on NDC,” Abbott said. “We’re seeing increases every month in terms of the volumes, but we are seeing greater speed and scale on Egencia and Neo, where we own and can control the ecosystem.”

    Kayak Announces New Enterprise Clients

    Kayak for Business’ new Enterprise solution, which developed from its work with initial client PwC U.S. and blockchain technology provider BlockSkye, has signed up two more clients, Kayak CEO Steve Hafner said at the conference.

    U.K.-based multinational alcoholic beverage company Diageo along with TripAdvisor each have signed up to have corporate travel booked on the platform, Hafner said during an onstage interview. The company now has begun a bigger push of broadening its enterprise clientele.

    “Everyone’s been dissatisfied with their corporate tools for a long time,” Hafner said. “We’re finally at a time where the solutions are pretty darn good that are coming out. We just need to go through the sales cycle of companies signing up and actually using it.”

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  • Wyndham Board Again Rebuffs Choice Acquisition Bid

    Wyndham Board Again Rebuffs Choice Acquisition Bid

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    Wyndham Hotels & Resorts’ board of directors has rejected Choice Hotels International’s revised proposal to acquire the hotel company, calling Choice’s latest offer a “step backwards” in negotiations, the company said Tuesday.

    Wyndham last month rejected Choice’s original cash-and-stock proposal of $90 per share, roughly totaling $7.8 billion. After a month of what Wyndham called stalled conversations, Choice in a letter to Wyndham’s board submitted an “enhanced” offer. Choice didn’t increase its per-share offer, which Wyndham calculated at about $86 per share given Choice’s lower stock price. 

    Choice’s offer includes $49.50 per share in cash and 0.324 shares of Choice stock. 

    Choice’s latest letter was not advancing the conversation, but rather “represents a step backwards despite being delivered nearly a full month after you decided to unilaterally go public with your unsolicited proposal,” Wyndham wrote in a response letter to Choice.

    “Choice continues to ignore our major concerns around value, consideration mix, and asymmetrical risk to our shareholders given the uncertainty around regulatory timeline and outcome,” Wyndham chairman Stephen Holmes said in the letter.

    While Choice’s latest bid represents a lower purchase point, the company did include a layer of protection for Wyndham shareholders—which Wyndham has said is required—should federal regulators deny the deal or require concessions. 

    Choice president and CEO Patrick Pacious in a Nov. 14 letter to Wyndham indicated Choice would include a $435 million termination fee and a “ticking fee” of 0.5 percent of the purchase per month in the case of regulatory delays. Additionally, “Choice agrees to take any actions required by antitrust regulators to close so long as such actions would not have a material adverse effect on the combined company,” according to Pacious.

    This additional element, however, did not sway Wyndham. Holmes called the termination fee “low” and indicated the two-year period for Choice to obtain regulatory approvals “would both create a prolonged period of limbo and expose Wyndham and its shareholders to significant asymmetrical risk.” 

    RELATED: Choice Bids $7.8B for Wyndham

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  • STR Lifts ’23 U.S. Hotel RevPAR Outlook on Higher Rates

    STR Lifts ’23 U.S. Hotel RevPAR Outlook on Higher Rates

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    Average U.S. daily hotel rates in 2023 trended higher than projected, according to STR and Tourism Economics, which on Monday increased its growth forecast for 2023 U.S. revenue per available room while slightly downgrading occupancy projections.

    For 2023, STR and TE raised their RevPAR projection by 0.3 percentage points from its previous forecast, issued in August, due to a “lift in ADR growth,” according to STR. 

    The companies held their forecast for 2024 steady from their most recent outlook.

    “Our latest projections reflect the continued buoyancy of travelers, as room rates outperformed our previous forecast, which built in a mild recession,” STR president Amanda Hite said in a statement. 

    STR and TE now project full-year 2023 RevPAR of $97.84, up 4.8 percent year over year—up 0.3 percentage points from the previous forecast’s 4.5 percent. The companies project 2023 ADR of $155.47, up 4.2 percent year over year, and a 0.6 percentage-point increase from the previous forecast.

    “Travel sector improvements, including stronger group activity and returning international visitors, will help offset economic factors, supporting still-solid RevPAR gains,” TE director of industry studies Aran Ryan said in a statement. Economic factors that could deter growth include tighter fiscal policies and higher interest rates, according to Ryan.

    While still projected to increase year over year, U.S. hotel occupancy for 2023 was downgraded slightly from STR and TE’s previous forecast, and now is forecast to be 62.9 percent, up 0.6 percent year over year. This is 0.2 percentage points lower than their previous forecast.

    2024 Outlook

    Looking at 2024, “each of the key performance metrics remained flat from the previous forecast due to the above long-term average trends beginning to stabilize,” according to STR. 

    For 2024, STR and TE project ADR to increase 3 percent year over year to $160.16, and RevPAR to increase 4.1 percent to $101.82. The companies forecast occupancy to increase 1 percentage point year over year to 63.6 percent.

    RELATED: STR/TE August forecast

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  • Hubli Launches API for Live Mtg. Inventory

    Hubli Launches API for Live Mtg. Inventory

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    Event booking platform Hubli has launched an API designed to connect to venue property management systems to distribute meeting spaces to travel management companies and corporate clients for live booking, the company announced Friday. 

    The API, dubbed Venue Connect, can be integrated “directly to [venues’] in-house PMS systems, allowing them to selectively distribute live availability and increase automation when responding to higher value RFPs,” the company said in a statement.  

    Venue Connect is available now at no additional cost to Hubli users, Hubli founder and CEO Ciaran Delaney told BTN. Delaney in a statement said the company is “already building connections with hotel chains” with the API, without naming any.

    The new API can “help our venues reduce time and effort handling bookings while making it even faster for our TMC and corporate clients to find the spaces they need,” according to Delaney.  

    The news follows Hubli’s April launch of its Office Connect internal meetings space booking tool.

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  • Convene Names Bentley CFO

    Convene Names Bentley CFO

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    Coworking and event space provider Convene has named C. Alan Bentley its new chief financial officer, effective immediately, the company announced Monday. 

    Bentley succeeds former Convene CFO Andrew Webb, who was in the position from February 2018 to March 2021, according to his LinkedIn. 

    Prior to joining the company, Bentley consulted for Convene for two years during the company’s acquisition of U.K.-based event venue provider Etc.venues, announced in February

    Bentley previously served as senior managing director for consulting firm Accordion Partners and senior managing director of Mackinac Partners. Prior to those roles, Bentley was the EVP and CFO of Diamond Resorts, Inc., where he worked for more than six years.

    Bentley joins the team alongside Convene’s anticipated “continued global expansion” the company said in a statement. Considering the “ever-changing future of work and rapidly evolving needs of our clients,” the company is “proactively upgrading our finance function to be well-prepared for imminent growth opportunities,” Convene CEO and co-founder Ryan Simonetti said in a statement.

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  • CBRE: U.S. Hotel 2024 RevPAR to Improve as Headwinds Ease

    CBRE: U.S. Hotel 2024 RevPAR to Improve as Headwinds Ease

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    Following “stiff headwinds” to U.S. hotel demand and pricing power this year, CBRE Hotels Research has lowered projections for 2023 revenue per available room but foresees improvement in 2024 as challenges moderate and international travel increases, the company said Thursday.

    Some of those headwinds to demand and pricing power this summer included yet-to-recover inbound U.S. travel and Americans opting for “short-term rentals or other alternative forms of lodging,” Rothman said. CBRE head of hotel research and data analytics Rachael Rothman said in CBRE’s November Hotel Horizons report.

    CBRE now projects 2023 RevPAR of $96.34, up 3.8 percent year over year but down about 31 cents from its previous forecast in August.

    CBRE’s also lowered projected 2023 average daily rate from its prior forecast. The company now expects 2023 ADR to increase 3 percent year over year, down from its previous forecast of 3.6 percent. These lower rate expectations result from decreased occupancy levels, according to the report.

    In Q3, “demand declined for the second quarter in a row as ADR growth was the slowest since the post-pandemic recovery began in the first half of 2021,” according to CBRE. “Softer-than-expected demand and more modest pricing power resulted in RevPAR declining 0.3 percent nationally, the first quarterly decline during the post-pandemic recovery cycle,” the company said.

    However, CBRE is “optimistic” that inbound international travelers will “boost occupancy and pricing power back toward their historical trend lines,” CBRE head of global hotels forecasting and senior economist Michael Nhu said in the report.

    Looking Ahead

    CBRE forecasts 2024 RevPAR to increase 3 percent year over year, driven by higher occupancy and ADR. CBRE projects 2024 RevPAR to exceed 2019 levels by 14 percent.

    As for ADR, CBRE expects 2024 daily rates will increase 2.3 percent year over year. Occupancy also is projected to rise as CBRE forecasts it to increase year over year by 40 basis points in 2024.

    These expectations are based on CBRE’s hotel KPI data as of Sept. 30 and macroeconomic forecasts as of mid-October, the company said. 

    RELATED: CBRE’s Q2 report

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  • AHLA Survey: Expected ’23 Corp. Travel on the Rise

    AHLA Survey: Expected ’23 Corp. Travel on the Rise

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    More than two-thirds of surveyed U.S. business travelers expected to travel for work during the last three months of 2023, as corporate travel expectations mostly have resumed pre-pandemic levels, according to a new survey by the American Hotel & Lodging Association.

    AHLA from Sept. 18-23 surveyed 4,006 U.S. adults, 718 of whom indicated their jobs involve business travel. 

    Among those who identified as business travelers, 68 percent said they were likely to travel overnight for business in the last three months of the year, according to AHLA, representing a steady climb in corporate travel expectations over the last three years of the survey.

    According to an AHLA survey last year, 59 percent of adults whose jobs involve travel said they were likely to travel for business during the last three months of 2022. In AHLA’s 2021 survey, 55 percent said they were likely to travel for business during the last three months of the year.

    Comparatively, about 37 percent of 2023 survey respondents said they were likely to travel overnight for leisure in the last months of the year.

    Additionally, hotels are the “top lodging choice for 81 percent of business travelers surveyed,” the hotel association said.

    Corporate Travel Expectations

    Corporate travel expectations largely have returned to pre-pandemic norms, according to the survey. When asked about the amount of business trips expected by an employer now compared with pre-pandemic times, 53 percent of respondents said it was “about the same.” About 17 percent said they were expected to travel more now, and 20 percent said it was less.

    According to the survey, 58 percent of respondents said the average length of business trips is about the same now as it was pre-pandemic, with 14 percent indicating it was longer now, and 19 percent indicating it was shorter now.

    Expenses also seem to be about the same for business travelers, according to the survey. When asked about spend an employer would cover now, compared to pre-pandemic, 55 percent said it’s about the same. Seventeen percent said more would be covered now, and 18 percent said less. 

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  • Wheels Up Receives Additional $40M Investment

    Wheels Up Receives Additional $40M Investment

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    Private aviation company Wheels Up has received an additional $40 million in the form of a term loan from Kore Capital and Whitebox Advisors, the company announced Thursday. The funds are in addition to the $500 million received in August from investors that included Delta Air Lines, Certares and Knighthead. The company on Nov. 9 reported a third-quarter net loss of $144.8 million on revenue of $320 million.

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    dairoldi@thebtngroup.com (Donna M. Airoldi)

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  • Tripbam Adds Dynamic Discount Renewal to Hotel Sourcing Tool

    Tripbam Adds Dynamic Discount Renewal to Hotel Sourcing Tool

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    Corporate travel reshopping platform Tripbam plans to add new hotel request-for-proposals capabilities to its Smart Sourcing tool next year, including an automated dynamic discount renewal button, the company announced Thursday during the Global Business Travel Association and VDR Europe Conference in Germany. 

    Now a division of Emburse, Tripbam’s newest hotel sourcing update includes three key elements, the first of which is an automated dynamic rate renewal button. This capability allows buyers to automatically renew discounts and eliminates the “need for buyers to go back to hotel partners to extend a dynamic discount for the following year,” the company said. 

    Also included in the update are two new dashboards, including a project tracker and an office geolocation service.

    The project tracker dashboard provides insight into negotiated rates and discounts with properties in a “specific area for a set time period,” according to Tripbam, allowing users to better source and track project-based travel spending, the company said.

    Tripbam’s office geolocation dashboard allows users to source corporate rates at hotels near new office locations. With this dashboard, buyers provide Tripbam with “geographic coordinates” of their offices and then “receive a streamlined report detailing nearby properties already within their program and properties where they should source a new corporate discount.” according to Tripbam.   

    Product updates are currently in pilot with “select customers” and will be available to all Smart Sourcing customers at no additional cost by the end of the first quarter of 2024, a Tripbam representative told BTN.

    The news follows Tripbam’s latest hotel RFP enhancement, announced in May, and its collaborative effort with Emburse, announced in October. The announcement also follows Tripbam’s partnership with Bizly, announced Wednesday.

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    aplatas@thebtngroup.com (Angelique Platas)

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  • TripStax Releases Quality Control, Hotels Modules

    TripStax Releases Quality Control, Hotels Modules

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    Travel management technology provider TripStax has added two new modules to its offerings: a quality control module not based on passenger name records and a hotel booking module.

    The quality control module works via APIs and outside of the global distribution systems, integrating booking data from TripStax’s data-processing Core system. This eliminates the need to code non-GDS bookings back into the PNR, a process TripStax said requires “time-consuming and outdated workflows.” The module then can check control data sets and get corrections in place, either automatically if it applies to certain rules or by alerting an agent.

    TripStax chief strategy officer David Chappell said TMCs have shown a “huge interest” in the QC module, especially in North America, as there is a greater need to manage bookings outside of GDSs.

    “TripStax is not saying that we are anti-GDS,” Chappell said in a statement. “The GDS platforms are immensely efficient distributors. But in a world where bookings are now created via a multitude of content sources, it is no longer scalable for TMCs to rely on a system that can only process PNRs for quality control.” 

    The Hotels module is built from the integration of the Hotelzon booking platform, which TripStax acquired from Travelport last year. TripStax has given the platform new log-in, search,  navigation and results pages and integrated it within the Core, meaning hotel booking data can be pulled into other modules that TMCs are using, such as Track for driving duty-of-care compliance or Analytics to provide data on hotel spending and behaviors.

    The Hotels module also adds “significant hotel content” to TripStax’s Content module, which previously was limited to air content from both GDS and non-GDS air providers.

    “The new transformative [user interface] is just the first stage in our evolution of the platform,” TripStax CEO Jack Ramsey said in a statement. “Over the next 12 months, we will go through a process of re-engineering the functionality and user experience to ensure TripStax Hotels is future-proofed as a next-generation hotel booking tool for our TMC clients and their corporate customers.”

    TripStax launched in 2022 as a spinoff of TMC ATPI, making its technology available to TMCs, corporate customers and other technology providers in the form of modules connected to the Core central data processing system.

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    mbaker@thebtngroup.com (Michael B. Baker)

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  • Mastercard Adds T&E Consulting Services

    Mastercard Adds T&E Consulting Services

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    Mastercard has added a new consulting service for travel managers and decision-makers, focusing in particular on helping companies grapple with new hybrid work environments and a bigger focus on sustainability.

    Mastercard T&E Consulting Services consists of five offerings, including reviewing and advising on a company’s policies and procedures, strategies to optimize a T&E program, helping a company meet sustainability goals with their program, assessing supplier performance and assisting with T&E program implementation, according to Mastercard. The service will come internally from Mastercard, from the payment company’s advisory consultants, according to a Mastercard spokesperson.

    Mastercard added the service follow a study earlier this year of more than 500 travel decision-makers, in which 86 percent said they were facing challenges related to new hybrid work environments, and 89 percent said they need more dynamic T&E policies to prepare for the future of business travel, according to the company.

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    mbaker@thebtngroup.com (Michael B. Baker)

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  • Delta, AirBaltic to Launch Codeshare

    Delta, AirBaltic to Launch Codeshare

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    Delta Air Lines and AirBaltic, Latvia’s national carrier, on Nov. 22 will launch a codeshare partnership, the U.S. carrier announced Wednesday. The new agreement will allow Delta to place its code on 20 AirBaltic-operated routes to three of the Latvian carrier’s main cities: Riga, Latvia; Tallinn, Estonia; and Vilnius, Lithuania. 

    AirBaltic operates more than 100 routes from Riga, Tallinn and Vilnius as well as Tampere, Finland, with connections to routes in Europe, the Middle East, North Africa and the Caucasus region, according to Delta.

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    dairoldi@thebtngroup.com (Donna M. Airoldi)

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  • ANA’s AirJapan Names Seoul its Second Route

    ANA’s AirJapan Names Seoul its Second Route

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    AirJapan, the new All Nippon Airways brand for medium-haul international routes, on Feb. 22 will launch service between Tokyo’s Narita International Airport and Seoul’s Incheon International Airport, ANA announced Wednesday. It is the second announced route for the new carrier, following its service between Narita and Bangkok, scheduled to begin Feb. 9. The Seoul flights will operate five days weekly, each Tuesday, Wednesday, Thursday, Saturday and Sunday.

    RELATED: ANA’s AirJapan to Launch with Narita-Bangkok Service

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    dairoldi@thebtngroup.com (Donna M. Airoldi)

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