Finance https://dev.traveldailymedia.com/finance/ Informing, connecting and developing the world’s travel industry professionals. Fri, 19 Jan 2024 02:55:18 +0000 en-US hourly 1 https://wordpress.org/?v=6.4.3 Club Med and Uplift announce partnership to offer guests “Buy Now Pay Later Payment Options” https://dev.traveldailymedia.com/club-med-and-uplift-announce-partnership-to-offer-guests-buy-now-pay-later-payment-options/ Fri, 19 Jan 2024 02:55:18 +0000 https://www.traveldailymedia.com/?p=863707 The post Club Med and Uplift announce partnership to offer guests “Buy Now Pay Later Payment Options” appeared first on TD (Travel Daily Media) Brand TD.

Uplift, the leading Buy Now Pay Later solution for the world's travel brands, announced today a partnership with Club Med, the pioneer of the all-inclusive concept, to provide their guests with the ability at checkout on all reservations to spread the cost of their booking over time.

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Uplift, the leading Buy Now Pay Later solution for the world’s travel brands, announced today a partnership with Club Med, the pioneer of the all-inclusive concept, to provide their guests with the ability at checkout on all reservations to spread the cost of their booking over time. This new payment offering provides customers the benefit of reserving an all-inclusive vacation by spreading the cost of their purchase across simple, affordable monthly installments.

“Club Med allows guests to craft and plan their ultimate dream vacation, and through this exciting partnership, we are enhancing that experience with the added convenience for them to be able to determine when and how they choose to pay for their extraordinary trip,” said Carolyne Doyon, President & CEO of Club Med North America and the Caribbean. “Considering our guests often plan their getaways well in advance, providing them with the flexibility to spread out the cost of their experience over time will be a significant consideration in their planning process.”

Uplift partners with over 350 of the world’s leading airlines, cruise lines, resorts, and other major travel providers to help more consumers make meaningful purchases and experience the travel they deserve.

“We are excited to welcome Club Med. to the Uplift hospitality family,” said Tom Botts, Chief Commercial Officer, Uplift. “This partnership will give guests the flexibility to book their vacations across nearly 70 all-inclusive Club Med resorts around the world in monthly installments, allowing them to explore all the experiences these resorts offer.”

Guests vacationing at Club Med can utilize Uplift pay-over-time monthly installments rather than paying in full at the time of their booking. Customers will see the total cost of their trip upfront along with the monthly payment amount and can choose from three months to 24 monthly installments.* There are no

Uplift fees, including late fees or prepayment penalties, and travel can happen before customers complete their payments.

*Based on a purchase price of $2880, you could pay a down payment of just $133.18 today, followed by 24 monthly payments of $133.18 at 15% APR. Minimum $150 purchase required. Actual terms are based on your credit score and other factors, and may vary. Not everyone is eligible. Loans made through Uplift are offered by these lending partners: uplift.com/lenders. Privacy Policy. Terms of Use. Uplift’s Address: 440 N. Wolfe Road, Sunnyvale, CA 94085

 

 

 

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Mastercard partners with CarbonSifr to advance climate action in MENA region https://dev.traveldailymedia.com/mastercard-partners-with-carbonsifr-to-advance-climate-action-in-mena-region/ Fri, 19 Jan 2024 00:30:09 +0000 https://www.traveldailymedia.com/?p=863633 The post Mastercard partners with CarbonSifr to advance climate action in MENA region appeared first on TD (Travel Daily Media) Brand TD.

Mastercard has signed a memorandum of understanding (MoU) with CarbonSifr, a UAE-based climate tech company, to explore opportunities to accelerate climate action in the MENA region.

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Mastercard has signed a memorandum of understanding (MoU) with CarbonSifr, a UAE-based climate tech company, to explore opportunities to accelerate climate action in the MENA region. The two partners will support small and medium enterprises (SMEs) with climate awareness and carbon footprint measurement initiatives, and enable players in the broader ecosystem to embed climate action into their payment processes with local data.

The innovation-driven partnership aims to equip small businesses in the region with innovative tools to measure, reduce and compensate for their carbon footprint.

Mastercard and CarbonSifr will also collaborate on the Priceless Planet Coalition, Mastercard’s global initiative that brings together merchants, banks, cities and consumers to restore 100 million trees worldwide with the aim of contributing to the fight against climate change. In the UAE, the Coalition works as a collaborative platform between Mastercard, Conservation International, Emirates Nature-WWF and the World Resources Institute (WRI) with the support of Dubai Charity Association.

“Pressure on climate action in the MENA region is increasing. Several governments have announced net-zero strategies and are taking tangible steps to implements them. With the UAE having hosted the 28th UN Climate Change Conference (COP28), the call for local companies to minimize their environmental footprint is stronger than ever. At CarbonSifr, we offer them easy-to-implement, high-integrity, trusted local climate tech solutions in line with international standards to help them drive their climate agenda and take tangible climate action,” said Mustafa Bosca, Co-founder and Chief Decarbonization Officer, CarbonSifr.

“At Mastercard, we are dedicated to minimizing the environmental and climate footprint of our own operations and have pledged to reach net-zero emissions by 2040. We are delighted to partner with CarbonSifr as we use our collective reach, technology and expertise to empower other businesses to contribute to a more sustainable future,” said Amnah Ajmal, Executive Vice President, Market Development, Eastern Europe, Middle East & Africa (EEMEA), Mastercard. 

More than 70% of carbon dioxide equivalent (CO2e) emissions are generated in the supply chain of businesses, making carbon footprint measurement a challenge for merchants. Mastercard was among the first companies in the global payments industry to incorporate supply chain emission reductions into their net-zero targets. The technology giant has developed a supplier engagement program that is helping it decarbonize its supply chain and achieve its net-zero goal.

 

 

 

 

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MobiKwik partners with Adani One to offer exclusive discounts on travel https://dev.traveldailymedia.com/mobikwik-partners-with-adani-one-to-offer-exclusive-discounts-on-travel/ Tue, 16 Jan 2024 03:00:29 +0000 https://www.traveldailymedia.com/?p=863201 The post MobiKwik partners with Adani One to offer exclusive discounts on travel appeared first on TD (Travel Daily Media) Brand TD.

E MOBIKWIK SYSTEMS LIMITED (MobiKwik), a fintech company, has partnered with the Adani Group’s travel booking app, Adani One, to offer exclusive deals on flight tickets and duty-free products.

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As the tourism splurge continues beyond new year, are you looking for the ultimate deal for getaways or to visit loved ones? Look no further! ONE MOBIKWIK SYSTEMS LIMITED (MobiKwik), a fintech company, has partnered with the Adani Group’s travel booking app, Adani One, to offer exclusive deals on flight tickets and duty-free products. Users can now enjoy:

  • Instant discount on flight bookings: With the MobiKwik Wallet, you will get a discount of Rs. 500 on flight bookings on Adani One. Use code: ONEMBK on the merchant payment page to grab the offer (terms and conditions apply).
  • Instant discount on duty-free products: Elevate your pre-flight experience with a flat discount of Rs. 250 at duty-free via Adani One when you pay with MobiKwik Wallet Use code: MBKDUTY on merchant payment page to avail the offer (terms and conditions apply).

Experience seamless travel booking management and unlock amazing flight and accommodation offers with the Adani One app. Also, enjoy additional savings with the MobiKwik Wallet discount, ensuring you get the best travel and stay deals possible. Further, discover a world of premium products from global brands at duty-free shops and explore India’s finest duty-free outlets, such as Mumbai Duty-Free, and enjoy an exclusive 5% online pre-order discount.

Adani One, an integrated travel platform launched by Adani Digital Labs, offers a comprehensive suite of services that cater to your every travel need such as hotel, flight, train and cab bookings, flight updates and duty-free ordering from global brands. Founded in 2021, Adani Digital Labs, a wholly owned subsidiary of Adani Enterprises Limited, is focused on growing digital engagements between Adani Group businesses and consumers across its businesses of airports, edible oils, foods, gas (industrial and retail), real estate, electricity, and financial services.

Speaking about the partnership, Bipin Preet Singh, Co-founder and CEO of MobiKwik, said: “We are excited to share our new partnership with the Adani One app, bringing together the ease of effortless payments and a seamless travel booking experience. Our goal is to elevate the customer experience as people gear to travel. India’s youthful explorers are known for their spontaneity, and we are dedicated to ensuring that financial constraints never hinder anyone’s plans.”

A spokesperson from Adani One said, “We are happy to be partnering with MobiKwik as we integrate its easy finance solutions into our super app. Our collective goal is to leverage technology to make travel bookings and global brands more accessible and affordable across India. This move will not only help us enhance the experience of our customers but will also add value to their transactions.”

 

 

 

 

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Mastercard collaborates with 4thWave to drive B2B Payments Across EEMEA https://dev.traveldailymedia.com/mastercard-collaborates-with-4thwave-to-drive-b2b-payments-across-eemea/ Fri, 12 Jan 2024 01:30:18 +0000 https://www.traveldailymedia.com/?p=862872 The post Mastercard collaborates with 4thWave to drive B2B Payments Across EEMEA appeared first on TD (Travel Daily Media) Brand TD.

Mastercard has partnered with 4thWave, an innovative finance and Banking-as-a-Service (BaaS) digital platform provider, to streamline business-to-business (B2B) payment flows.

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Mastercard has partnered with 4thWave, an innovative finance and Banking-as-a-Service (BaaS) digital platform provider, to streamline business-to-business (B2B) payment flows. The collaboration will leverage 4thWave’s advanced supply chain finance platform for managing B2B payments to benefit Mastercard’s commercial customers, enabling cashflow for corporate buyers and suppliers.

The partnership will strengthen the offerings available as part of Mastercard’s InControl for Commercial Payments (ICCP), an industry-leading solution that helps to streamline B2B payments using unique, dynamically generated virtual account numbers to make payments to suppliers, flexible, robust and secure. Mastercard’s straight through processing (STP) will further increase virtual card account acceptance to deliver funds for approved transactions to suppliers’ bank accounts.

Around 72% of organizations experience strained vendor relationships due to inefficient invoice and payment processing, leading to sub-optimal supplier relationships. Mastercard is creating a paradigm shift in the B2B payments landscape, putting an end to the operational and financial challenges shaped by inefficient processes and multiple varying point-of-origin payment systems.

“In line with our commitment to helping businesses worldwide transform the way they pay and get paid, we are investing in enhanced capabilities in the commercial B2B payments space. Our partnership with 4thWave, a result of our continued focus on solving for B2B accounts payable and receivables, will allow us to jointly provide enhanced value to all participants in the supply chain,” said Clyde Rosanowski, Senior Vice President of Commercial Solutions, EEMEA, Mastercard.

 “We are pleased to partner with Mastercard to expand our offerings to the wider EEMEA market. The B2B businesses, especially in the SME & MSME segment, have been severely impacted by the slowness in collections of receivables. This has led to severe liquidity crunch that has negative consequences for the survival of these businesses. Our combined solution with Mastercard addresses this need by providing an easy and innovative financing platform that will rekindle and spur the much-needed growth in the economies”, says Dan Mishra, the chairman of 4THWAVE INC.

 The commercial payments market in the Eastern Europe, Middle East and Africa (EEMEA) region presents an opportunity of $7 trillion. B2B account payables and receivables comprise more than 85% of these flows, showing tremendous potential for growth.

 

 

 

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Top six predictions for fintech in 2024 https://dev.traveldailymedia.com/top-six-predictions-for-fintech-in-2024/ Fri, 22 Dec 2023 02:30:20 +0000 https://www.traveldailymedia.com/?p=860098 The post Top six predictions for fintech in 2024 appeared first on TD (Travel Daily Media) Brand TD.

Financial technology, or fintech, is undergoing rapid and transformative changes. As we look ahead to 2024, several key trends are poised to shape the landscape of the booming industry.

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Financial technology, or fintech, is undergoing rapid and transformative changes. As we look ahead to 2024, several key trends are poised to shape the landscape of the booming industry, affirms the CEO of one of the world’s largest independent financial advisory, asset management and fintech organisations.

“2024 promises to be a dynamic and innovative period for fintech. We think it’ll go down as a landmark year for the sector,” says Nigel Green of deVere Group.

Here he sets his six predictions for the year ahead.

  1. Rise of cryptocurrencies

“One of the most notable predictions for 2024 is likely to be the continued rise of cryptocurrencies. Over the past 12 months Bitcoin, the world’s largest digital asset has gained 155% in value – this trend can be expected to continue as institutional investors pile in, especially in the form of Bitcoin spot ETFs, bring with them not only capital but expertise and a huge amount of influence and credibility.

“This growing acceptance of cryptocurrencies by traditional financial institutions, along with regulatory clarity in many jurisdictions, is likely to contribute to their mainstream adoption. We predict that crypto will play an increasingly important role in diversifying investment portfolios and facilitating cross-border transactions, thereby reshaping the global financial landscape.”

  1. Rise of Central Bank Digital Currencies (CBDCs)

“In tandem with the ascent of cryptocurrencies, the rise of Central Bank Digital Currencies (CBDCs) is set to be a defining trend in 2024. Several central banks around the world are actively exploring or developing their own digital currencies, aiming to modernize payment systems and enhance financial inclusion.

“CBDCs offer governments greater control over monetary policy and the ability to streamline financial transactions. Additionally, these digital currencies have the potential to reduce the reliance on cash and improve the efficiency of cross-border payments.

“As more central banks pilot and implement CBDCs, 2024 is expected to mark a crucial turning point in the evolution of digital currencies within the mainstream global financial system.”

  1. Fintech firms increase usage of AI

“Artificial intelligence (AI) is a driving force behind the innovation in fintech, and in 2024, we anticipate a significant increase in its usage.

“Fintech firms are increasingly leveraging AI to enhance customer experiences, streamline operations, and make more informed decisions. From robo-advisors to AI-powered chatbots providing customer support, the integration of AI technologies is reshaping the way financial services are delivered.

“The predictive capabilities of AI also play a vital role in risk management and fraud detection. As financial institutions grapple with the evolving nature of cyber threats, AI algorithms are becoming indispensable tools in identifying and mitigating potential risks.

“In 2024, the synergy between fintech and AI is expected to reach new heights, contributing to greater efficiency and innovation within the industry.

  1. Soaring demand for mobile payments

“The convenience and accessibility of mobile payments have made them increasingly popular, and this trend is set to accelerate in 2024. As smartphones become ubiquitous and digital wallets gain traction, consumers are embracing the simplicity of conducting transactions with just a few taps on their mobile devices.

“Fintech companies are likely to invest further in developing user-friendly mobile payment solutions, fostering a cashless society. “The ease of mobile payments not only caters to the demands of modern consumers but also offers opportunities for financial inclusion by providing individuals in underserved regions access to digital financial services.”

  1. Focus on cybersecurity, including biometrics

“As fintech continues to advance, so do the threats associated with cybercrime. In response, 2024 is expected to witness an intensified focus on cybersecurity within the financial industry.

“Fintech firms will increasingly invest in robust security measures, with a particular emphasis on biometric authentication methods such as fingerprint and facial recognition.

“Biometrics provide an additional layer of security, enhancing user authentication and protecting sensitive financial information. By incorporating advanced biometric technologies, fintech companies aim to bolster the trust of consumers and mitigate the risks associated with identity theft and cyber-attacks, ensuring the integrity of digital financial transactions.”

  1. Focus on global financial inclusion

“An overarching theme in fintech predictions for 2024 is an increased emphasis on global financial inclusion. Fintech is playing a pivotal role in extending financial services to the unbanked and underbanked populations around the world.

“In 2024, initiatives focused on financial inclusion are expected to gain momentum, with fintech companies leveraging innovative solutions such as mobile banking, microfinance, and blockchain to bridge the gap. By expanding access to financial services, particularly in developing regions, fintech is poised to contribute to poverty reduction and economic empowerment on a global scale.”

The deVere CEO concludes: “The fintech sector is poised for unprecedented growth and innovation. The rise of cryptocurrencies and CBDCs, the increased usage of AI, the surge in mobile payments, the heightened focus on cybersecurity, and the commitment to global financial inclusion collectively paint a picture of a dynamic and transformative year for the financial technology sector.

“The convergence of these trends is not only reshaping the way we conduct financial transactions, but also redefining the very nature of the global financial ecosystem.”

 

 

 

 

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Alipay+ and E-Wallets drive sustainable travel in year-end global campaign https://dev.traveldailymedia.com/alipay-and-e-wallets-drive-sustainable-travel-in-year-end-global-campaign/ Thu, 21 Dec 2023 06:16:40 +0000 https://www.traveldailymedia.com/?p=859771 The post Alipay+ and E-Wallets drive sustainable travel in year-end global campaign appeared first on TD (Travel Daily Media) Brand TD.

Alipay+, a cross-border mobile payment digital platform under Ant International, today announced a year-end campaign to promote sustainable cross-border travel with a series of incentives offered by global partners to users of five leading e-wallets in Asia, including Alipay (the Chinese mainland), AlipayHK (Hong Kong SAR, China), Touch ’n Go eWallet by TNG Digital (Malaysia), GCash (the Philippines), and TrueMoney (Thailand).

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Alipay+, a cross-border mobile payment digital platform under Ant International,  announced a year-end campaign to promote sustainable cross-border travel with a series of incentives offered by global partners to users of five leading e-wallets in Asia, including Alipay (the Chinese mainland), AlipayHK (Hong Kong SAR, China), Touch ’n Go eWallet by TNG Digital (Malaysia), GCash (the Philippines), and TrueMoney (Thailand).

The campaign, which will last till December 31, will first be launched for the destinations of Hong Kong SAR, Macao SAR, Japan, South Korea, Singapore, Malaysia and Thailand. Travelers will enjoy a wide array of special offers curated in collaboration with global industry leaders, including ComfortDelGro Taxi, Daimaru Matsuzakaya, Galaxy Macau, King Power, and Lotte Duty Free, as well as local small and micro-sized enterprises (SMEs), including Durian BB in Malaysia and IJOOZ in Singapore, creating a diverse and inclusive selection for travelers.

Supporting Responsible Travel

Ant International is committed to promoting sustainable and responsible tourism across its Alipay+ markets, with an ESG program closely aligned with the UN Sustainable Development Goals (SDGs). The campaign features special offers from Alipay+ and partners to encourage sustainable travel behavior, such as free overseas mobile data packages, in-app discounts across Alipay+’s extensive merchant network, and opportunities to win 100% rebates at partner stores. Travelers are also rewarded for using more digital payments instead of cash, choosing public transportations over cars, travelling with own toothbrushes instead of using disposable ones, as well as visiting more diverse local destinations to support communities’ economies and preserving local cultures.

Cherry Huang, General Manager of Alipay+ Offline Merchant Services, Ant International said: “Our year-end campaign is not just about travel; it’s about making a positive impact. By collaborating with partners who share our commitment to sustainability, we are offering travelers the chance to explore the world responsibly.”

Digital payment increases international tourism revenue to local SMEs. In 2023, while Alipay expanded cooperation with major international card organizations to facilitate foreign cardholders visiting China, Alipay+ brought 10 Asian e-wallets and banking apps into the Chinese mainland to serve their travelling users, a landmark in international expansion of these leading payment methods. As a result, in 2023, over three million merchants in China, including mom-and-pop shops, closed their first international transactions on Alipay+.

With travel booming between the southern part of the Chinese mainland, Hong Kong SAR and Macao SAR, a total of 220 leading merchants in Shenzhen, south China’s Guangdong province also joined the year-end promotion campaign to attract AlipayHK and mPay users with discount packages worth as much as HK$14,000 (about 1,793 US dollar).

To monitor the ESG impact of the campaign, Alipay+ will collaborate with the Chinese University of Hong Kong (CUHK), and an advisory group consisting of experts from Tsinghua University, Hong Kong University, University of Geneva University and the Northwestern University to measure travelers’ carbon footprint reduction, the impact on local businesses, culture and communities, as well as the impact on business best practices in the ecosystem.

Bruce Zhang, CEO of IJOOZ, a juice vending machine provider in Singapore said, “Every year, IJOOZ generates huge amounts of orange pulps and peels. We recycle orange waste, turning them into valuable resources for making new products. We are happy to join hands with Alipay+ to promote sustainable travel among global tourists visiting Singapore.”

Alipay+ in 2023: A Year of Expanded Growth and Partnerships

Since its launch in 2020, Alipay+, a suite of cross-border payment and marketing solutions, has expanded to connect over 88 million merchants in 57 markets to 1.5 billion payment accounts of over 25 digital wallets, banking apps and Buy Now Pay Later (BNPL) apps.

In the second half of 2023, Alipay+ recorded an estimated 30% increase in total payment volume (TPV) compared to the first six months, and over 70% increase in daily average transactions (DAT). Excluding Alipay, the TPV and DAT of cross-border payments of the rest of Alipay+ partner wallets increased by some 280% and 230% respectively in the second half of 2023. 

In terms of transaction volume in 2023, AlipayHK, Kakao Pay, Touch ’n Go eWallet and GCash are among the top 4 most popular Alipay+ partner wallets used by cross-border travelers, aside from Alipay itself. Touch ’n Go eWallet, mPay and TrueMoney are ranked top 3 based on month-on-month (MoM) increase of transaction volume in November 2023. As a result, merchants in the Chinese mainland, Macao SAR, Japan, South Korea and Singapore benefited the most from the surge in cross-border mobile payment.

Alan Ni, CEO of TNG Digital, operator of Touch ’n Go eWallet, said: “Tourism is an important contributor to the local economy, and TNG Digital is committed to making a positive difference with our product and services, especially to encourage sustainable travel. Touch ’n Go eWallet cross-border payments in the Chinese mainland have grown by more than 100% month-on-month in 2023. With that, we are hopeful that with our small gesture, we can create a path for others to follow.”

 

 

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ADCB introduces the region’s first Mastercard Carbon Calculator to support sustainability ambitions of business clients https://dev.traveldailymedia.com/adcb-introduces-the-regions-first-mastercard-carbon-calculator-to-support-sustainability-ambitions-of-business-clients/ Mon, 11 Dec 2023 02:30:51 +0000 https://www.traveldailymedia.com/?p=857721 The post ADCB introduces the region’s first Mastercard Carbon Calculator to support sustainability ambitions of business clients appeared first on TD (Travel Daily Media) Brand TD.

Abu Dhabi Commercial Bank (ADCB) introduced the region’s first Mastercard Carbon Calculator, an innovative tool that supports the sustainability ambitions of businesses by providing data on the estimated carbon footprint of their corporate expenditure using the ADCB corporate cards.

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Abu Dhabi Commercial Bank (ADCB) introduced the region’s first Mastercard Carbon Calculator, an innovative tool that supports the sustainability ambitions of businesses by providing data on the estimated carbon footprint of their corporate expenditure using the ADCB corporate cards.

ADCB, which has joined the UN-convened Net-Zero Banking Alliance (NZBA) in support of the goals of the Paris Agreement, is partnering with customers on their transition to a net zero economy by expanding its suite of green products and services. As Sustainalytics’ highest rated diversified bank in the GCC for ESG, ADCB is proud to be bringing its experience and capabilities to support its clients’ sustainability ambitions.

Developed by Mastercard, together with the Swedish fintech company Doconomy, the Carbon Calculator informs customers about the estimated carbon footprint of their purchases. The tool estimates the environmental impact of each purchase using a weighted calculation, powered by the independently verified Doconomy Åland Index.

The ADCB Mastercard Carbon Calculator was officially launched by Mohammed Al Jayyash, Group Chief Operations Officer at ADCB, and Khalid Elgibali, Division President, Middle East and North Africa, Mastercard, at the COP28 global climate conference in the UAE.

“ADCB has adopted an enhanced climate strategy, aligned with the UAE’s ambition for an inclusive, net zero economy. At the core of our approach is a commitment to support our customers in their path to a successful transition. Collaboration on this journey is paramount, and our partnership with Mastercard forms a key element of the Bank’s initiatives to promote sustainable business practices. We are proud to offer our corporate clients the Carbon Calculator, in partnership with Mastercard, which will help in the measurement of environmental impacts and facilitate sustainable decision-making,” said Mohammed Al Jayyash, Group Chief Operations Officer at ADCB.

ADCB has also joined Mastercard’s Priceless Planet Coalition, a global initiative guided by restoration partners Conservation International and World Resources Institute that unites citizens, businesses and banks to contribute to the fight against climate change with the aim to restore 100 million trees.

“Mastercard’s ongoing efforts in sustainability have set new industry benchmarks. We are committed to driving our business toward net zero emissions by 2040 and accelerating the transition to a low-carbon, regenerative economy. This partnership is a significant step forward in scaling up the positive impact of the Carbon Calculator and mobilizing against climate change, leveraging our network to give businesses tools to have visibility into the environmental impact of their purchases,” said Khalid Elgibali.

This initiative aligns with the UAE’s ambition towards net zero emissions by 2050 as well as global sustainability goals. It comes at a crucial time, when both public and private sector entities are ramping up their efforts to reduce their carbon footprints.

 

 

 

 

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Travelex launches more than 75 new international bureaux, kiosks and ATMs worldwide https://dev.traveldailymedia.com/travelex-launches-more-than-75-new-international-bureaux-kiosks-and-atms-worldwide/ Fri, 01 Dec 2023 00:02:36 +0000 https://www.traveldailymedia.com/?p=856203 The post Travelex launches more than 75 new international bureaux, kiosks and ATMs worldwide appeared first on TD (Travel Daily Media) Brand TD.

Travelex, the market leading foreign exchange brand, is investing in more than 75 new bureaux, kiosks and ATMs internationally as global travel continues to rebound. 

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Travelex, the market leading foreign exchange brand, is investing in more than 75 new bureaux, kiosks and ATMs internationally as global travel continues to rebound. 

In Europe, Travelex has significantly expanded its ATM network with new ATMs across Berlin, Frankfurt and Zurich airports, as well as over a dozen ATMs across the Netherlands’ national railway network. Travelex has also celebrated its 30th anniversary in Germany this year (its first German store opened in Frankfurt in 1993); and announced contract extensions for both its bureaux at Hamburg Airport and its tax refund business in the Netherlands.

In the UK, Travelex has launched two firsts: its first ever bureau at a UK rail station with a new branch at London Paddington, and a first-of-its-kind automated, self-service, FX kiosk at London Heathrow that requires no human interaction. Furthermore, a new store has been opened at Edinburgh Airport, an extensive bureaux refresh has been undertaken across part of Travelex’s UK estate, and new three metre LED walls have also been developed for Heathrow terminals 3 and 5.

In recent months Travelex has also undertaken extensive investment across the Middle East. In the UAE, Travelex has launched a series of new bureaux and On-The-Move kiosks across airports in Dubai, Abu Dhabi and Sharjah as well as the Mina Rashid sea port, in addition to investing in the refurbishment and expansion of existing stores at Sharjah airport. Furthermore, Travelex is in the process of launching a dozen new ATMs across the Dubai Harbour Cruise Terminal, Dubai International and the new Abu Dhabi Airport Terminal A.

In terms of a retail footprint expansion in the Middle East, Oman saw a launch of a new Travelex pre-immigration store at Muscat International Airport in October 2023. The new store comes as Travelex celebrated its 20th anniversary in Oman this year. In the UAE, a new flagship Landside Arrivals store has opened in Dubai International’s Terminal 3, and at Abu Dhabi seven new stores and eight ATMs have opened to coincide with the inauguration of the new Abu Dhabi International Airport – Terminal A which will serve as the capital city’s main airport.

In Asia, two new stores have been launched at Kuala Lumpur International Airport 2 (KLIA2), taking the total number of retail stores in Malaysia to ten, while two further stores are also set to be launched at Shanghai Pudong Airport Terminal 1 in the coming months. In Japan, Travelex has introduced its prepaid foreign currency card, the Travelex Travel Money Card, to the local market, and also celebrated its 20th anniversary in the country.

Travelex has opened six new stores in Australia and three in New Zealand. Travelex has also partnered with both Bank of New Zealand (BNZ) to offer its 1.2m customers access to discounted travel money.

In Brazil, Travelex has continued to invest in and expand its operations with seven new stores launched nationwide, including in Rio de Janeiro and São Paulo. Travelex now operates over 125 stores across the country, with further openings planned for the coming months.

The new bureaux openings follow Travelex’s recent announcement of a £90m refinancing package. With international travel now at 93.1% of pre-Covid levels, and demand for travel – particularly among emerging markets – continuing to accelerate, Travelex is now working to further expand its retail offering, develop new wholesale relationships and increase investment into both its digital transformation and further product innovation.

Richard Wazacz, Travelex CEO, said: “Customer convenience is at the heart of everything Travelex stands for, and so we’re thrilled to be investing in the growth of our retail store operations. This investment, along with the recent news of our £90m refinancing, is a clear statement that both travel, and Travelex, are on the rise once again.”

 

 

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Paytm partners with global travel technology company Amadeus https://dev.traveldailymedia.com/paytm-partners-with-global-travel-technology-company-amadeus/ Fri, 17 Nov 2023 03:45:52 +0000 https://www.traveldailymedia.com/?p=854270 The post Paytm partners with global travel technology company Amadeus appeared first on TD (Travel Daily Media) Brand TD.

One97 Communications Limited (OCL) that owns the brand Paytm, India’s payments and financial services company and the pioneer of QR and mobile payments,  announced a partnership with global travel technology company Amadeus.

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One97 Communications Limited (OCL) that owns the brand Paytm, India’s leading payments and financial services company and the pioneer of QR and mobile payments,  announced a partnership with global travel technology company Amadeus. Under this collaboration, for the next three years, the company will integrate Amadeus’s expansive travel platform, enhancing the travellers’ experience from search to booking, and finally to payment. This partnership brings together Paytm’s extensive user base and Amadeus’s expertise to provide travellers with a more seamless and efficient booking experience.

Paytm is one of the leading online travel aggregators in the country and this partnership with Amadeus will further solidify its position as the premier travel provider in India. Leveraging Amadeus advanced automation and New Distribution Capability (NDC) technologies will enable Paytm to secure precise results and establish a consistent and robust travel shopping ecosystem. Paytm will deliver hyper-personalized recommendations and dynamic pricing to offer a world-class experience to its users powered by Amadeus.

With Amadeus APIs, Paytm users will gain access to a vast inventory of global flight options, making it easier for them to find the best deals and book flights to destinations around the world, all within the Paytm app. This single API will provide the users with seamless access to diverse travel content, including Global Distribution Systems (GDS), Low-Cost Carriers (LCC), hotels, and more. This collaboration also paves the way for Paytm to offer a unified PNR solution in partnership with Indian national carriers.

Paytm’s integration with Amadeus APIs ensures that travellers have access to a diverse range of payment options, including the convenience of UPI, the flexibility of the Paytm Wallet and Postpaid, and the assurance of a safe and secure payment gateway. This comprehensive suite of payment choices guarantees that users can complete their transactions with ease and confidence, all within the trusted Paytm ecosystem.

Vikash Jalan, Chief Business Officer, Paytm Travel said, “As India’s leading travel platforms, we have been constantly bringing innovations to ensure the best travel experience for our users. Our brand reach and simplified product has empowered users with best travel solutions. The synergy between Paytm and Amadeus aligns perfectly with our vision to further upgrade the customer experience. It will automate travel operations for users by enhancing efficiency and scalability by leveraging cutting-edge technology.”

Ramona Bohwongprasert, Senior Vice President-India Subcontinent & Southeast Asia, APAC Inside Sales & Startups, Amadeus, said, ” At Amadeus, we understand that in today’s ever-changing landscape, travellers expect more than just technological solutions; they demand reliable access to travel systems and simplified processes like ticketing and rebooking. In a world where disruptions can impact travelers at any moment, maintaining consistent and reliable access to these systems is paramount. Our deep understanding of these unique requirements has led us to collaborate with Paytm and provide them with next-generation, industry-specific, and fully integrated solutions. These solutions are designed to address their operational needs, instill confidence in travellers, and empower them to expand their businesses across geographies.”

 

 

 

 

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Travellers from 8 key Asian travel corridors can now enjoy seamless digital payments in Malaysia https://dev.traveldailymedia.com/travellers-from-8-key-asian-travel-corridors-can-now-enjoy-seamless-digital-payments-in-malaysia/ Wed, 08 Nov 2023 08:54:57 +0000 https://www.traveldailymedia.com/?p=853137 The post Travellers from 8 key Asian travel corridors can now enjoy seamless digital payments in Malaysia appeared first on TD (Travel Daily Media) Brand TD.

Payments Network Malaysia Sdn Bhd (PayNet) and Ant Group launched their cross-border digital payments collaboration that has enabled travellers from 8 countries to use PayNet’s DuitNow QR in Malaysia, further boosting international tourism and trade among these countries.

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Payments Network Malaysia Sdn Bhd (PayNet) and Ant Group launched their cross-border digital payments collaboration that has enabled travellers from 8 countries to use PayNet’s DuitNow QR in Malaysia, further boosting international tourism and trade among these countries.

Effective 31 October 2023, travellers with the following Alipay+ supported wallets can expect the convenience of travelling cashless to Malaysia and make digital payments by simply scanning PayNet’s DuitNow QR at its network of over 1.8 million merchants touchpoints throughout the country:

  • Alipay (China)
  • AlipayHK (Hong Kong SAR)
  • HelloMoney by AUB (Philippines)
  • Hipay (Mongolia)
  • MPay (Macau SAR)
  • Naver Pay (Japan)
  • Toss Pay (South Korea)
  • TrueMoney (Thailand)

More Alipay+ payment partners are also in the pipeline and will progressively be enabled in Malaysia. Additionally, the reciprocal connection to enable DuitNow QR users in Malaysia to make payment at Alipay+ global merchants is expected to gradually be in place from 2024 onwards. The Alipay+ merchant ecosystem currently includes tens of millions of merchants in more than 50 markets. The collaboration was signified by a Memorandum of Understanding (MOU) signed in August this year between Ant Group, operator of Alipay+ and PayNet, operator of DuitNow QR.

“With this collaboration with Ant Group, I am seeing a new Silk Route emerging; one that is powered by cross-border payment interoperability. Businesses in the DuitNow QR ecosystem can immediately access travellers from eight more countries in an efficient, seamless, and secure way, bolstering trade and commerce. It could not have materialized at a better time. The Malaysian tourism industry is back on a steady growth path and will be further energized by Visit Malaysia Year in 2026. Collectively, these linkages will connect economies that contribute over two-thirds to global GDP growth and home to over 60% of the world’s population whose median age is younger than global average. At this rate, we may very well see ASEAN+3 economic integration sooner than we think,” said Farhan Ahmad, Group CEO of PayNet.

DuitNow QR is the National QR Standard operated by PayNet, which enables participating merchants to accept real-time payments from customers of participating banks and e-wallet in this, as well as other connected countries with a single unified QR code.

Douglas Feagin, Senior Vice President of Ant Group and Head of Alipay+ Cross-Border Mobile Payment Services added, “We are excited to collaborate with PayNet to make digital payments in Malaysia more convenient for users, with our partnership coming to life just as we approach the year-end travel season. A recent report we commissioned found that intra-Asia cross-border travel and payments will accelerate over the next few years, with average consumer spending almost doubling from 2016-2025. This growth reinforces the need to better connect local merchants with international visitors through payments, marketing and other digital services to not only enhance the travel experience, but also boost the local tourism ecosystem in Malaysia.”

The collaboration will go beyond connectivity to encompass joint digital marketing initiatives, aiming to enhance the visibility of merchants’ businesses within users’ e-wallets. Both parties will also collaborate through a marketing travel solution powered by Alipay+, for improved customer engagement, where international travellers using Alipay+ supported e-wallets’ can earn reward points or receive discounts and benefits at PayNet’s DuitNow QR merchants’ ecosystem.

 

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Alipay+ partners LankaPay to enhance digital travel experience to and from Sri Lanka https://dev.traveldailymedia.com/alipay-partners-lankapay-to-enhance-digital-travel-experience-to-and-from-sri-lanka/ Wed, 25 Oct 2023 03:00:15 +0000 https://www.traveldailymedia.com/?p=850411 The post Alipay+ partners LankaPay to enhance digital travel experience to and from Sri Lanka appeared first on TD (Travel Daily Media) Brand TD.

Alipay+ recently signed an MoU with Sri Lanka’s National Payment Network – LankaPay towards enhancing inbound and outbound travel experience through cross-border digital payments

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Dr. Cherry Huang, General Manager of Alipay+ Offline Merchant Services, Ant Group (fourth from left) exchanging the documents relating to the MoU with Mr. Channa de Silva, Chief Executive Officer of LankaPay (fourth from right) in the presence of Dr. Kenneth De Zilwa, Chairman – LankaPay and other representatives from both the institutions

 

Alipay+ recently signed an MoU with Sri Lanka’s National Payment Network – LankaPay towards enhancing inbound and outbound travel experience through cross-border digital payments, enabling users of Alipay+ payment partners to make payments seamlessly at over 400,000 LankaQR merchants across Sri Lanka. The partnership will also enable Sri Lankans to use their LankaQR enabled apps to scan and pay at Alipay+ merchants globally when traveling overseas.

By early 2024, users of leading Asian e-wallets from the region including Hong Kong SAR, Philippines, Singapore, South Korea and Thailand, will be able to use cashless payments when they travel to Sri Lanka with Alipay+ – a suite of global cross-border digital payments, marketing and digitalization solutions operated by Ant Group – by simply scanning LankaQR. More e-wallets are expected to join in the near future.

LankaQR is a project initiated by the Central Bank of Sri Lanka to ensure all QR codes and QR based transactions in Sri Lanka are standardized and interoperable. Introduced in 2020, LankaQR network is managed and operated by LankaPay, the operator of Sri Lanka’s National Payment Network.

Welcoming Alipay+ aboard, Channa de Silva, Chief Executive Officer of LankaPay stated “We are delighted to announce this important partnership with Alipay+, which is a significant milestone in our endevour to facilitate seamless cross-border transactions in support of our vision to become a global player in digital payments. We believe this partnership will provide greater convenience to Asian tourists visiting Sri Lanka and a more acceptable proposition especially to the SME merchants with substantially low commission rate compared to card payments. Therefore, we envisage that our efforts will invariably motivate more SME merchants to come onboard digital platforms, which is essential in developing the country’s digital eco-system to propel the the tourism industry and the national economy.”

Additionally, all e-wallets supported by LankaPay will be accepted by Alipay+ global merchant network by end of 2024, enabling Sri Lankans traveling overseas to simply pay with their familiar home e-wallet. Alipay+ is currently accepted at tens of millions of merchants in more than 50 countries.

Alipay+ and LankaPay will also be partnering on joint marketing efforts to promote Sri Lanka as a tourist destination and tourism-related local businesses overseas.

Dr. Cherry Huang, General Manager of Alipay+ Offline Merchant Services, Ant Group, said: “Alipay+ continues to accelerate the shift towards digital travel in more regions through our integrations with national standardized QR codes, this time in Sri Lanka with LankaPay. As global travel recovers, we’ve noticed a shift in travel preferences, including travelers’ heightened expectations of how digital solutions should enhance their travel experience and greater interest in visiting previously less-explored destinations. That’s why we’re really excited at how our partnership with LankaPay will allow tourists to explore the wonders of Sri Lanka more easily, while also helping them discover and pay more conveniently at local merchants, which drives growth opportunities for local businesses.”

Sri Lanka is experiencing a boom in tourism, recording more than 1 million tourists from January – September this year, surpassing the 720,000 in the whole of 2022[1]. Since January, there has been a month-on-month increase in arrivals, and in September, the number of tourists increased by 275 percent compared to the previous year. The Sri Lanka Tourism Development Authority is optimistic of exceeding their target of 1.5 million visitors for the year. As a result, it has generated more than USD1.3 billion for the tourism sector as of August, up 56 percent from the year before[2]. With China opening up their borders earlier this year for their citizens to travel overseas, Sri Lanka has the potential to attract from a larger base of Chinese and Asian tourists. As Asian consumers are savvy in using digital solutions like e-wallet payments, local businesses must adapt to these new digital habits.

The acceptance of LankaQR by merchants big and small across the country will encourage tourists to make seamless payments at more attractions in Sri Lanka. This would be in line with the Sri Lanka Tourism Development Authority’s initiative to promote lesser-known attractions of the island. Sri Lanka has also received global recognition for its attractions, including for having the ‘Top Wildlife Safaris Outside Africa’ for 2023.

Introduced by Ant Group in 2020, Alipay+ enables local businesses, especially small and medium-sized businesses, to process a wide range of mobile payment methods and reach more than 1.4 billion regional and global consumers, through one-time integration and simple technical adaptation. Alipay+ enables digital payments from e-wallets, banks apps and buy-now-pay-later (BNPL) apps to be accepted at millions of merchants globally within the Alipay+ ecosystem. It is widely accepted in popular travel destinations including the Chinese mainland, Macao SAR, Singapore, Malaysia, Thailand, Japan, South Korea, UAE, Italy, France and Spain among others.

 

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Nium expands B2B travel payments offering in Asia Pacific  https://dev.traveldailymedia.com/nium-expands-b2b-travel-payments-offering-in-asia-pacific/ Tue, 24 Oct 2023 00:31:29 +0000 https://www.traveldailymedia.com/?p=850178 The post Nium expands B2B travel payments offering in Asia Pacific  appeared first on TD (Travel Daily Media) Brand TD.

Nium, the leader in real-time global payments, has expanded its B2B travel payments offering in the Asia Pacific (APAC) region, building on rising demand for its virtual credit card offering globally. 

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Nium, the leader in real-time global payments, has expanded its B2B travel payments offering in the Asia Pacific (APAC) region, building on rising demand for its virtual credit card offering globally. 

Travel intermediaries and operators use Nium’s virtual card solution to efficiently pay suppliers around the world. Its customers benefit from optimized working capital as a result of reduced foreign exchange fees, increased acceptance rates, faster reconciliation, less opportunities for fraud, and better protection against refunds.

Now, as part of the expansion, Nium is progressively rolling out a combination of domestic issuing and funding in Hong Kong, Singapore, Australia, and Japan to further enhance the payment experience for its new and existing customers in APAC. This will be added to over 20 existing currencies already supported by Nium’s virtual card solution across Europe and North America.

Connexus Travel, a corporate travel management expert and business travel solutions provider, and Convergent, the global hotel B2B platform, are among the first of Nium’s customers to benefit from the new local funding and issuing capability in Hong Kong.

The expansion comes amidst a rebound in APAC tourism after the global pandemic. The total travel market in APAC will reach a projected $490 billion in 2025, 10% higher than its 2019 value, regaining its top spot as the world’s largest regional travel market in the same year.

Spearheading the company’s expansion in the region is Anupam Pahuja, Executive Vice President and General Manager of APAC, Middle East and Africa at Nium: “In order to capitalise on the exciting growth opportunity at hand, travel businesses need more control, transparency, and insight into the way they make payments around the world,” said Pahuja. “This expansion enables us to deliver just that, at a time when our customers need it most.”

Today, Nium powers some of the largest online travel agencies, payment providers, airlines, and hotels across the globe including Love Holidays and Sabre Virtual Payments. Nium has issued over 30 million virtual cards over the last 12 months and scaled its B2B travel revenue by 4x since 2021.

“Travel is a dynamic industry that can enable humans to defy gravity, yet its payment systems remain earthbound,” said Spencer Hanlon, Global Head of Travel Payments at Nium. “Razor-thin profit margins, tighter regulation, and changing consumer preferences mean online travel agents and intermediaries are increasingly demanding more flexible, secure, and cost-effective ways to pay their suppliers located around the world. Our roots as a remittance fintech born out of Singapore, combined with 20 years of travel expertise, means we are perfectly positioned to help our customers solve their unique payment problems with local execution on a global scale.”

Nium has established a strong foothold in Europe, the Americas, and APAC with an extensive global customer base. The expansion is the first step in a global travel innovation roadmap for Nium, with further geographic and product expansion in APAC and LATAM on the horizon. In addition to its virtual credit card solution, the fintech offers a closed loop payments solution for airlines, and real-time cross-border collections and payouts to bank accounts, digital wallets, and cards in over 100+ currencies for global businesses, fintechs, and financial institutions.

 

 

 

 

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Mastercard partners with tmam to help GCC SMEs digitize corporate expenses https://dev.traveldailymedia.com/mastercard-partners-with-tmam-to-help-gcc-smes-digitize-corporate-expenses/ Thu, 19 Oct 2023 03:45:37 +0000 https://www.traveldailymedia.com/?p=849484 The post Mastercard partners with tmam to help GCC SMEs digitize corporate expenses appeared first on TD (Travel Daily Media) Brand TD.

Mastercard has entered a strategic partnership with tmam to launch its innovative payment proposition across the GCC region. 

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Mastercard has entered a strategic partnership with tmam – one of the leaders in multi-currency corporate card, expense management and accounts payable solutions for SMEs – to launch its innovative payment proposition across the GCC region. The collaboration will help small businesses digitize their corporate expenses while saving money on company spend.

With a transparent fee structure and deep integration into leading accounting platforms, tmam provides unlimited physical and virtual cards in regional currencies, including USD, with EUR and GBP to follow, to businesses of any size worldwide.

Through its partnership with Mastercard, tmam customers will be able to access a range of benefits through a simple digital onboarding experience via the tmam app, allowing them to transact seamlessly physically and online. The payment solution for SMEs will help improve expense tracking for their branch offices. In addition, the companies can monitor the spend of all their remotely-located staff and branches, reducing the cost of doing business in the local currency. The new proposition will also enable organizations to save on fees while paying USD invoices and streamline all recurring expenditure into one platform.

“SMEs are crucial drivers of the economy. Guided by our pledge to connect 50 million small enterprises globally to the digital economy by 2025, we are delighted to partner with tmam to deliver our innovative payment solutions to SMEs. Our collaboration will contribute to accelerating digital transformation and enhancing financial inclusion in the region while providing companies with practical tools that align with their business and operational needs, and facilitate their access to the digital economy,” said Amnah Ajmal, Executive Vice President, Market Development,EEMEA, Mastercard.

“As one of the leading regulated corporate multi-currency spend platforms in the GCC, we are thrilled to work closely with Mastercard to provide our clients a financial operating ecosystem navigating multi-geographical operations and transactions spanning a myriad of currencies powered by smart physical and virtual corporate cards. Augmented by intuitive software, these cards empower meticulous oversight and control of departmental budgets, eliminating any worry on where and how your money is being spent. With the backing of Mastercard’s platform, they can be utilized seamlessly across the vast expanse of online retailers and global merchant locales,” said Maseeh Ahmed, Founder and CEO, tmam.

Pursuing its vision of financial automation, tmam works closely with its clients to build solutions by them and not for them. Supporting the company are leading fintech investors, such as Aditum, JIMCO, Plus VC, and a number of strategic angels stretching from Silicon Valley to South Africa and the Middle East.

 

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Aramex and Mastercard partner to launch ScaleUp Platform and Enable SME Growth https://dev.traveldailymedia.com/aramex-and-mastercard-partner-to-launch-scaleup-platform-and-enable-sme-growth/ Thu, 19 Oct 2023 00:03:16 +0000 https://www.traveldailymedia.com/?p=849259 The post Aramex and Mastercard partner to launch ScaleUp Platform and Enable SME Growth appeared first on TD (Travel Daily Media) Brand TD.

Aramex and Mastercard have announced a partnership to launch the inaugural edition of a new platform called ScaleUp, designed to support the UAE’s startup and small and medium enterprise (SME) community.

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Male trader working late night at home.

Aramex, a leading global provider of comprehensive logistics and transportation solutions, and Mastercard, a global technology company in the payments industry, have announced a partnership to launch the inaugural edition of a new platform called ScaleUp, designed to support the UAE’s startup and small and medium enterprise (SME) community.

Launched in partnership with the UAE Ministry of Economy’s The Entrepreneurial Nation, ScaleUp presents an exciting opportunity for startups and SMEs in the UAE to pitch innovative ideas and stand a chance to win AED 250,000 (US$68,000), the opportunity to meet with angel investors and several additional benefits including marketing exposure. Furthermore, the finalists, as well as a select number of participants, will be invited to attend an exclusive ScaleUp networking event in November 2023.

The initiative builds on the companies’ efforts to empower SMEs and entrepreneurs. Mastercard has committed to bringing 50 million SMEs into the digital economy by 2025. Most recently, the technology company partnered with Women Choice to support for women entrepreneurs and help create 1 million jobs for women in the Arab world. Aramex believes in the importance of enabling and assisting entrepreneurs to create their own opportunities as part of its continuous efforts to understand SME needs and providing them with the required support and services.

Through this initiative, the industry leaders further extend their support to fuel the UAE’s SME sector. ScaleUp supports the UAE’s ambition to become home to 20 unicorns by 2031, with SMEs already representing 94% of companies and institutions operating in the country and contributing more than 50% to its GDP.

Commenting on the initiative, Tarek Abu Yaghi, General Manager of Aramex in the UAE, said: “We are thrilled to launch the inaugural edition of ScaleUp – a unique initiative and competition that seeks to transform the future of industries and economies in the region through startup-led innovation. As a startup born out of the region’s entrepreneurial ambitions several decades ago, we fully understand the unique challenges SMEs will likely encounter on their path to success. The UAE’s SME sector is pivotal in driving the region’s economic growth. It is our privilege at Aramex to offer the incredible growth opportunity and competitive advantage that the ScaleUp platform brings to the vast and talented pool of SMEs in the UAE, building on our illustrious history of nurturing the region’s startup scene.”

Amnah Ajmal, Executive Vice President, Market Development, Eastern Europe, Middle East & Africa (EEMEA), at Mastercard, said: “Joining forces with Aramex was a natural choice for us given our shared goal of promoting entrepreneurship and supporting the growth of startups in the UAE. At Mastercard, we believe that empowering small businesses is key for an economy to survive and thrive.”

Get Involved
Businesses and startups participating in ScaleUp can visit the official event link at http://now.aramex.com/scaleup to submit their ideas and entries before the 25 October 2023  for evaluation by an expert panel of jurors, selected by Aramex and Mastercard. The panel will include Fadi Ghandour, Executive Chairman of Wamda and Founder of Aramex, as well as Amnah Ajmal, Executive Vice President, Market Development, EEMEA at Mastercard.

Entrants can register for free by answering simple questions and submitting a short video on the competition’s dedicated landing page about why their business deserves to win.

The winner will be announced at the ScaleUp 2023 networking event. The winner will receive AED250,000, an invitation to an exclusive angel investors lunch, marketing exposure, business mentorship and preferential rates for logistics services. In addition, during the event, the winner, runners-up and select participants will also have the chance connect, collaborate, and engage with peers and industry experts.

 

 

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Average spending via Alipay by outbound Chinese travellers during Golden Week surpasses 2019 level https://dev.traveldailymedia.com/average-spending-via-alipay-by-outbound-chinese-travellers-during-golden-week-surpasses-2019-level/ Mon, 09 Oct 2023 00:45:22 +0000 https://www.traveldailymedia.com/?p=848032 The post Average spending via Alipay by outbound Chinese travellers during Golden Week surpasses 2019 level appeared first on TD (Travel Daily Media) Brand TD.

Shopping continues to be one of the most beloved activities among Chinese tourists when they travel abroad.

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Alipay, the leading digital payment and service platform, reported that the average spending of outbound Chinese travellers during the first five days of China’s National Day holiday 2023 — from 29 September to 6 October — has surpassed the level in 2019, as the growth momentum for outbound Chinese tourism since the beginning of 2023 continues.

Shopping continues to be one of the most beloved activities among Chinese tourists when they travel abroad. During the period, the highest expenditure via Alipay was on purchasing goods, including skincare products and duty-free goods, surpassing spending on all other activities. Food and beverages, as well as accommodation, ranked as the second and third largest spending categories, respectively.

In addition to paying for goods and services with the Alipay app, Chinese tourists have increasingly turned to the various digital travel services on Alipay to elevate their travel experience. During the first five days of the Holiday, currency exchange, Coupon Hub, tax refund, and transportation were the most used services by Alipay users. In particular, the number of transportation-related transactions rose 16 times compared with the same period in 2019.

Alipay in collaboration with its partners worldwide now provides a full suite of travel services to outbound Chinese tourists, ranging from hotel and air-ticket booking, in-store payment, taxi-hailing, public transport, food delivery to tax refund. Alipay users can order a taxi in over 2,000 cities outside the Chinese mainland. During this holiday, they can also enjoy extra 20% tax refund from major retailers in France, Italy and Spain. The Coupon Hub contains offers, some of exclusive to Alipay users, provided by brands in most destinations.

A recent survey on Chinese outbound tourism found that Chinese travellers of all ages embrace digital technology in travel planning and prefer mobile payments, with an overwhelming 84% expecting to use mobile payments, such as Alipay. Chinese consumers prefer mobile payments for their transparent and favorable exchange rates (60%), discounts and other value-added services offered (60%), expense tracking facilitation (56%), and safety and convenience over cash (55%).

Chinese travellers also prefer personalized services such as Chinese-language shopping guides (83%) and exclusive offers. Local merchants keen on luring Chinese tourists may need to gear up for Chinese mobile payment methods and consider offering other value-added services tailored for Chinese tourists, according to the study carried out by the Centre for Sustainable Finance Innovation at Nanyang Technological University, Singapore.

The most popular destinations based on total spending via Alipay remained largely consistent with the previous major holidays this year. Geographically close Asian destinations, including Hong Kong SAR, Singapore and Malaysia, and European countries, such as France and Italy, continued to dominate the list. However, there was a notable increase in Chinese tourist spending via Alipay in less-explored destinations like Estonia and Qatar compared to the same period in 2019, indicating a shift in travel preferences.

Alipay is a partner e-wallet of Alipay+. Created as a suite of cross-border mobile payment and marketing solutions by Ant Group, Alipay+ now works with about 30 leading e-wallets. With its recent extension into the Chinese mainland, the service now connects tens of millions of merchants worldwide to over 1.4 billion payment accounts in Asia and beyond. Consumers enjoy seamless payment and a broad choice of deals using their preferred payment methods while traveling abroad.

From September 29 to October 6, the number of daily transactions by inbound visitors to China using the 10 Alipay+ partner e-wallets (AlipayHK, mPay, Hipay, OCBC, Changi Pay, Touch ‘n Go eWallet, TrueMoney, Kakao Pay, Naver Pay and Toss Pay) increased by as much as 200%.

 

 

 

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The Saudi National Bank and Mastercard announce the launch of UEFA Champions League cards https://dev.traveldailymedia.com/the-saudi-national-bank-and-mastercard-announce-the-launch-of-uefa-champions-league-cards/ Mon, 09 Oct 2023 00:30:20 +0000 https://www.traveldailymedia.com/?p=848033 The post The Saudi National Bank and Mastercard announce the launch of UEFA Champions League cards appeared first on TD (Travel Daily Media) Brand TD.

The Saudi National Bank (SNB), and Mastercard, the official sponsor of the UEFA Champions League, have partnered to launch the UEFA Champions League card portfolio, the first of its kind in the Kingdom, offering cashback credit card and prepaid card without annual fees.

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The Saudi National Bank (SNB), and Mastercard, the official sponsor of the UEFA Champions League, have partnered to launch the UEFA Champions League card portfolio, the first of its kind in the Kingdom, offering cashback credit card and prepaid card without annual fees.

This new launch came in line with SNB’s commitment to provide innovative and comprehensive payment solutions and within its continuous efforts to achieve one of its strategic aspirations to be the “Best Bank in Customer Service”, and through the partnership with Mastercard, where football enthusiasts can now access tailored solutions and benefits to connect them to their passion and love for the game, courtesy of Mastercard, the official partner of the UEFA Champions League.

Saud Bajbair Head of Retail Business Group at SNB said: “SNB holds a prominent position as a leader in the card business, offering a wide range of products including Cashback, LAK loyalty program. SNB remains committed to introducing new products that align with the aspirations and vision of the country, particularly in promoting sports, youth, and wellness. In a groundbreaking collaboration, and through this launch, SNB and Mastercard are introducing innovative product portfolio which marks the first of its kind in the kingdom, further demonstrating SNB’s commitment to bringing innovative opportunities to its customers.”

“For more than 25 years, Mastercard has been connecting people to their passions through our priceless platform. We are delighted to join forces with our longstanding partners at SNB to bring to life consumers’ love of the beautiful game through this exciting opportunity. Today, we are pleased launching a truly innovative and exciting product portfolio that delivers exceptional experience for the football enthusiasts and celebrating the great strides the Kingdom is making in this beautiful sport.” said Adam Jones, Country General Manager, MENA Central, Mastercard

The launch of the new card comes as a complement to the advanced services provided by the bank to its customers as part of its continuous efforts to develop alternative programs and services that meet the financial needs of its customers, targeting the youth.

The Mastercard UEFA Champions League credit card enables its holders to earn cashback for all purchases, in addition to obtaining many exclusive benefits, which include offers to win UEFA Champions League match tickets, smart payment plan service and special offers and discounts at global partner outlets related to the program. It also offers travel insurance coverage and airport experience provided by Mastercard Travel Pass which provides access to airport lounges worldwide.

The Mastercard UEFA Champions League prepaid card offers exciting benefits, including earning “LAK” Loyalty Program points for all purchases, to the chance to win UEFA Champions League match tickets and special discounts at global partner outlets part of the program available to all customer segments.

Customers can obtain the card directly by applying through the AlAhliOnline website, AlAhliMobile application or by visiting the nearest branch.

 

 

 

 

 

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Travelex completes £90m refinancing deal to, fuel the next stage of growth https://dev.traveldailymedia.com/travelex-completes-90m-refinancing-deal-to-fuel-the-next-stage-of-growth/ Thu, 28 Sep 2023 03:00:22 +0000 https://www.traveldailymedia.com/?p=846788 The post Travelex completes £90m refinancing deal to, fuel the next stage of growth appeared first on TD (Travel Daily Media) Brand TD.

Travelex, a market leading global travel money services business, has completed a £90m refinancing deal that will underpin the next stage of its growth journey. 

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Travelex, a market leading global travel money services business, has completed a £90m refinancing deal that will underpin the next stage of its growth journey. The £90m facility has been provided on a five-year term. It will be used to repay the existing £50m term loan facility, redeem £12m of the New Money Notes and stapled equity, and provide funds for investment in the business.

Travelex’s card and cash-based retail business operates more than 1,100 bureaux and 900 ATMs across over 20 countries, whilst its wholesale banknotes business serves central banks and major financial institutions worldwide. With international travel now at 88.2% of pre-Covid levels, and demand for travel – particularly among emerging markets – continuing to accelerate, Travelex is now working to expand its retail offering, develop new wholesale relationships and increase investment into both its digital transformation and further product innovation.

In addition to creating thousands of new jobs and opening dozens of new bureaux over the past 18 months, Travelex has also recently launched a host of new products, including the retail FX industry’s first ATM click-and-collect product and a new automated currency kiosk at Heathrow, as well as expanding its pre-paid Travel Money Card in the UK and Japan.

Richard Wazacz, Travelex CEO, commented: “We are delighted to have secured this financing, which is a considerable vote of confidence in both the business and our ambitions for the future. With travel having recovered and market indicators pointing to significant growth for the foreseeable future, this funding will enable Travelex to capitalise on the many opportunities this presents.”

Mike Rees, Travelex Chairman, said: “The refinancing marks a significant point in the Group’s turnaround following the pandemic. The funding provides certainty and the flexibility to target growth in a dynamic market.”

PwC acted as financial advisor to Travelex.

 

 

 

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Ant Group Introduces 10 Asian e-wallets to Chinese Mainland https://dev.traveldailymedia.com/ant-group-introduces-10-asian-e-wallets-to-chinese-mainland/ Sat, 23 Sep 2023 03:00:44 +0000 https://www.traveldailymedia.com/?p=846097 The post Ant Group Introduces 10 Asian e-wallets to Chinese Mainland appeared first on TD (Travel Daily Media) Brand TD.

Ant Group officially welcomes seven new leading e-wallets and payment apps from Asia to the “Alipay+-in-China” Program (A+China Program).

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Ant Group officially welcomes seven new leading e-wallets and payment apps from Asia to the “Alipay+-in-China” Program (A+China Program). Users of mPay (Macao SAR, China), Hipay (Mongolia), Changi Pay (Singapore), OCBC (Singapore), Naver Pay (South Korea), Toss Pay (South Korea) and TrueMoney (Thailand) will be able to use their familiar home e-wallet on their own phone to enjoy seamless mobile payment experience in the Chinese mainland across Alipay’s vast merchant network.

The new additions bring the total number of overseas e-wallets accepted in the Chinese mainland to 10. AlipayHK (Hong Kong SAR, China), Touch ’n Go eWallet (Malaysia) and Kakao Pay (South Korea) piloted the Program in late 2022. In total, these payment methods reach a population of over 175 million in Southeast and East Asia.

Users of these e-wallets may use their own payment app wherever Alipay works, to enjoy secure, smooth and cashless payment, and transparent and competitive exchange rates. They can also enjoy additional promotional deals via Alipay+ Rewards, a digital cross-border marketing hub integrated into select wallet apps. The wallets’ teams are also providing familiar customer support to their roaming users, backed by Alipay+’s smart payment tech capabilities.

With the A+China Program, Alipay+ also officially welcomes five new mobile payment partners, including Hipay, Changi Pay, OCBC, Naver Pay and Toss Pay to its global merchant network.A suite of cross-border mobile payment, marketing and digitalization solutions developed by the International Business Group of Ant Group, Alipay+ enables payment partners to connect global and local merchants to cross-border digital consumers.

Outside of China, Alipay+ covers 5 million merchants in 56 markets, and works with over 20 mobile payment partners across Asia which together serve over 1.4 billion consumer accounts. The A+China Program now extends Alipay+ service to tap into the massive merchant network of China with tens of millions of points of sales (POS).

The A+China Program is made possible by the guidance of the People’s Bank of China and support from NetsUnion Clearing Corporation, e-wallet partners, international card organizations as well as other partner financial institutions in China. Travelers may also choose to bind their international bank cards to an updated international version of Alipay to enjoy mobile payment and digital life services while in China.

Ant Group is rolling out extensive merchants’ education and marketing campaigns across the Chinese mainland, especially in the top tourist cities, to welcome Asian athletes, fans and travelers. Douglas Feagin, Senior Vice President of Ant Group and Head of Alipay+ Cross-Border Mobile Payment Services, said expanding partners and merchant network, and enhancing digital operational capabilities of SMEs are key to Alipay+’s future strategy.

“A growing variety of mobile payment providers are joining this ecosystem of cross-border digital commerce, from mobile wallets, to banking apps, independent merchant apps and super-apps. We will invest faster and deeper in payment and digital marketing technologies to help our partners and merchants achieve robust, omni-channel growth,” said Feagin.

“As the chartered clearing institution of the People’s Bank of China, NetsUnion Clearing Corporation provides secure and efficient transaction information interchange and fund clearing services for cross-border mobile payments of Ant Group and overseas digital wallets. We are committed to providing robust support for important cross-border mobile payment scenarios and events such as the Hangzhou Asian Games, to help nurture an open and inclusive cross-border consumption environment in China, and promote high-quality dual circulation of domestic and global economic cycles,” said the NetsUnion Clearing Corporation of China.

“We are deeply grateful for the guidance of the People’s Bank of China, the support of the NetsUnion Clearing Corporation, and the assistance from financial institutions and major international card organizations, for helping bring the world’s mobile wallet users and overseas bank card users to China as the Official Payment Partner of the Asian Games,” said Eric Jing, Chairman and CEO of Ant Group. “It is incredibly inspiring to see such regional multi-party partnership help travelers enjoy greater choice and convenience, and small businesses thrive in cross-border commerce with unprecedented innovations. We look forward to building wider and deeper collaboration to fulfill our shared mission to make the world a better place with the power of digital technologies.”

The total number of payments made in China through the pilot A+China wallets – Kakao Pay, Touch ’n Go eWallet and AlipayHK – grew 47 times in six months between March and August 2023. Shanghai, Guangzhou and Shenzhen are the favorite cities for travelers from South Korea, Malaysia and Hong Kong SAR. Food and beverage, retail and transportation are the three most common scenarios for these transactions.

According to PricewaterhouseCoopers, by 2030 the number of cashless transactions will be about double to triple. While China leads the region in digital wallet usage, the rest of Asia, especially Southeast Asia, has become the world’s fastest growing mobile payment market. FIS research shows that between 2018 and 2023 digital wallets in the region (excluding China) more than doubled their share of e-commerce transaction value and share of payment transaction value at point-of-sales grow six folds.

 

 

 

 

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Mastercard and Invest India redefine experiential travel https://dev.traveldailymedia.com/mastercard-and-invest-india-redefine-experiential-travel/ Wed, 13 Sep 2023 02:45:10 +0000 https://www.traveldailymedia.com/?p=844875 The post Mastercard and Invest India redefine experiential travel appeared first on TD (Travel Daily Media) Brand TD.

Mastercard and Invest India have announced the launch of an enhanced priceless.com to redefine experiential travel in India and provide an immersive cultural odyssey to international and domestic travellers.

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Mastercard and Invest India have announced the launch of an enhanced priceless.com to redefine experiential travel in India and provide an immersive cultural odyssey to international and domestic travellers. The program is aimed towards promoting tourism as a key growth driver to India’s flourishing economy. Present at the launch were Smt. Manisha Saxena, Director General, Ministry of Tourism; Raja Rajamannar, Chief Marketing and Communications Officer and President, Healthcare at Mastercard; Gautam Aggarwal, Division President, South Asia at Mastercard; and Nivruti Rai, CEO, Invest India.

The priceless.com launch in India is an extension of Mastercard’s global priceless platform that offers over 2,000+ curated experiences across a spectrum of passion points for Mastercard cardholders in 40+ countries.

As per the Mastercard Economics Institute’s Travel Industry Trends 2023, consumer spending on experiences at travel destinations has seen a sharp increase of 65% in comparison to March 2019, owing to the pent-up demand for travel. Mastercard’s program, under the guidance of Ministry of Tourism, will not only give a fillip to India’s ‘Dekho Apna Desh’ endeavour but also provide an opportunity for local and international travel enthusiasts to experience the country’s diverse heritage.

Priceless.com will aim to provide compelling experiences across ten dynamically evolving passion points, including culinary, sports, entertainment, and wellness. Some of the exciting experiences include:

  • A sumptuous dinner coupled with breath-taking views of the iconic Qutub Minar
  • Curated walks through the lanes and by-lanes of Old Agra
  • A day of wellness with celebrity nutritionist Pooja Makhija
  • A private yoga class with the celebrity yoga expert Anshuka Parwani
  • Stays at grandiose mahals owned by royal families
  • Bollywood special workouts with the famous Yasmin Karachiwala
  • Exclusive food experiences

“The support from the Ministry of Tourism and Invest India has been integral to evolving priceless.com for today’s traveller. The program views India’s rich history and diverse culture through the lens of today’s cutting-edge travel trends, helping Indian and international visitors alike explore their passions as they appreciate the absolute beauty of India. Detailed itineraries across the country to explore the hidden gems in the nook and corners of various states will seek to cater to the travel enthusiasts’ yearning for exploring India,” said Raja Rajamannar, Chief Marketing and Communications Officer and President, Healthcare, Mastercard.

 

 

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Fulfill the “Journey of Happiness” with AEON Royal Orchid Plus Credit Cards https://dev.traveldailymedia.com/fulfill-the-journey-of-happiness-with-aeon-royal-orchid-plus-credit-cards/ Sun, 10 Sep 2023 03:00:34 +0000 https://www.traveldailymedia.com/?p=844476 The post Fulfill the “Journey of Happiness” with AEON Royal Orchid Plus Credit Cards appeared first on TD (Travel Daily Media) Brand TD.

AEON Thana Sinsap (Thailand) Public Company Limited launched the "Journey of Happiness with AEON Royal Orchid Plus" campaign to offer happiness in every moment of the journey.

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AEON Thana Sinsap (Thailand) Public Company Limited launched the “Journey of Happiness with AEON Royal Orchid Plus” campaign to offer happiness in every moment of the journey. Customers will receive a voucher from Thai Airways worth up to 40,000 baht* by having specified accumulative spending with AEON Royal Orchid Plus World Mastercard or AEON Royal Orchid Plus Platinum Card at merchants worldwide from today until 30 November 2023.

Journey of Happiness with AEON Royal Orchid Plus, another promotional campaign offers great privileges, especially for AEON Royal Orchid Plus credit cardholders with up to 40,000 baht voucher from Thai Airways to redeem a flight ticket of Thai Airways when having accumulative spending over 4,000,000 baht. Alternatively, customers will receive a 20,000 baht voucher when having accumulated spending over 2,000,000 baht or a 5,000 baht voucher when having accumulated spending over 500,000 baht at merchants worldwide. Registered via SMS, by typing JHR@, followed by the last 16 digits (without space) and send it to 4221475 or AEON Mobile App, or aeon.co.th.

 

 

 

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Ant Group brings Alipay+ to the Philippines https://dev.traveldailymedia.com/ant-group-brings-alipay-to-the-philippines/ Thu, 07 Sep 2023 00:05:49 +0000 https://www.traveldailymedia.com/?p=844198 The post Ant Group brings Alipay+ to the Philippines appeared first on TD (Travel Daily Media) Brand TD.

Ant Group, the operator of Alipay+, the global cross-border digital payments and marketing solution, announced that a total of four mobile wallets are now accepted in the Philippines.

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Ant Group, the operator of Alipay+, the global cross-border digital payments and marketing solution, announced that a total of four mobile wallets are now accepted in the Philippines. These include AlipayHK (Hong Kong SAR), Kakao Pay (South Korea), Touch ‘n Go eWallet (Malaysia) and Alipay (Chinese mainland), which has been accepted by Filipino merchants since 2017. This enables travellers from these regions to enjoy a cashless experience, using just their home mobile wallets to make payment, improving the travel experience as digital payment options like mobile wallets become the norm for day-to-day transactions.

The acceptance of three new mobile wallets, via Alipay+, comes as travellers return to the Philippines. According to the Department of Tourism (DOT), more than 3 million tourists have visited the Philippines from January 1 to July 19, 2023, reflecting continued robust recovery. The DOT also shared that inbound tourism receipts from January 1 to June 30, 2023, are more than 500% higher than the same period last year. South Koreans top the list of international visitors to the Philippines, while Malaysia ranks in the top 10.

Alipay+ is currently accepted by merchants in Manila and Cebu, the top two most visited cities in the Philippines pre-pandemic in 2019. In the first half of 2023, Mactan-Cebu International Airport saw a 219% increase in passengers compared to the same period last year. In order to cater to the new expectations of digital-first travellers, the airport has integrated Alipay+ across 90% of its merchants, ensuring that tourists can enjoy a digitally-enhanced cashless experience from the moment they arrive in Cebu.

Athanasios Titonis, Aboitiz InfraCapital Chief Executive Officer assigned to MCIA, said: “At MCIA, we have always placed utmost importance on providing convenience and ease of travel through seamless processes and world-class services and amenities. The integration of Alipay+ gives our passengers that exceptional convenience and more payment options when they travel through MCIA.”

Mactan-Cebu International Airport (MCIA) is the second largest airport in the Philippines with over 11 million passengers annually, making it the second busiest airport in the country. With its strategic location and world-class facilities, MCIA aims to establish itself as the main tourism gateway of the country with exceptional travel experience, connecting the world to the Philippines. To date, MCIA is the first and only airport in the Philippines to receive the Airport Customer Experience (ACX) accreditation from the Airports Council International.

Commenting on this new development, Dr. Cherry Huang, General Manager of Alipay+ Offline Merchant Services at Ant Group, said: “Philippines and its many islands, such as Cebu, have long been a favourite destination for Asian travellers and we look forward to working with our local partners to enhance their travel experience. We believe that digital adoption and solutions will shape travellers’ expectations, particularly in the way the engage travel-related businesses, from airports and hospitality to F&B and retail stores. Our focus now is to work with more partners to onboard more merchants with Alipay+ across the Philippines, particularly local small businesses, and promote digital travel and travel recovery.”

Introduced by Ant Group in 2020, Alipay+ aims to enable local businesses, especially small and medium-sized businesses, to process a wide range of mobile payment methods and reach more than 1.4 billion regional and global consumers, through one-time integration and simple technical adaption. In addition to the Philippines, Alipay+ is also widely accepted in destinations including the Chinese mainland, Macao SAR, Singapore, Thailand, Japan and South Korea among others.

 

 

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Travelex launches Travel Money Card in Japan  https://dev.traveldailymedia.com/travelex-launches-travel-money-card-in-japan/ Wed, 06 Sep 2023 01:30:35 +0000 https://www.traveldailymedia.com/?p=844116 The post Travelex launches Travel Money Card in Japan  appeared first on TD (Travel Daily Media) Brand TD.

Travelex has introduced its prepaid foreign currency card to the Asian market with the launch of the Travelex Travel Money Card in Japan.

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Travelex has introduced its prepaid foreign currency card to the Asian market with the launch of the Travelex Travel Money Card in Japan. Designed exclusively for overseas use and available to customers aged 12 and above, the contactless-equipped card enables customers to load multiple currencies for use at any Mastercard®-affiliated shop or restaurant in more than 210 counties and regions worldwide. Customers that purchase more than 100K Yen can get a 2000 Yen discount in the three months after the card launch.

In addition to the Japanese Yen, the Travelex Money Card supports eight foreign currencies, including the US Dollar, Euro and Australian Dollar. When travelling to other countries, customers can load their card with Japanese Yen or other supported currencies and convert to the local currency when making a payment.

The card is not linked to a bank account, meaning the use of unauthorised access is minimized compared to a traditional credit or debit card. Furthermore, unlike many other foreign currency cards, the TMC does not require My Number verification documents, making it possible to purchase the card quickly and conveniently, including on the day of departure.

The card can be purchased both in-store and pre-ordered online and picked up in-store, while the card’s features can be managed through the Travelex Money App, which enables customers to add currency, check their balance, view their transaction history and pause usage in case of loss or theft.

The Travelex Money Card is already available to customers in the UK, Australia and New Zealand, and replaces the existing Travelex Multi-currency Cash Passport that had been sold in the Japanese market.

Jun Otani, Director, Travelex Japan, said:“We are delighted to launch the Travelex Money Card in Japan, which is an enhanced version of the old Travelex Card we have become well known for in Japan. The card has proved to be hugely popular in the UK, Australia and New Zealand, and through the card we are able to offer our customers greater convenience and security than ever before.”

 

 

 

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Trip.com launches year-long “Explore with Mastercard” promotion https://dev.traveldailymedia.com/trip-com-launches-year-long-explore-with-mastercard-promotion/ Thu, 31 Aug 2023 02:15:58 +0000 https://www.traveldailymedia.com/?p=843543 The post Trip.com launches year-long “Explore with Mastercard” promotion appeared first on TD (Travel Daily Media) Brand TD.

Trip.com has today announced its exclusive Explore with Mastercard promotion, which will run in 17 territories across the Asia Pacific region for one year from 1 September 2023.

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Trip.com has today announced its exclusive Explore with Mastercard promotion, which will run in 17 territories across the Asia Pacific region for one year from 1 September 2023. This is part of the collaboration agreed under the Memorandum of Understanding (MOU) that was signed between Trip.com Group and Mastercard in March 2023.

Travellers will get to enjoy a discount off all flights when they pay with any Mastercard World or World Elite Consumer Credit and Debit cards on the Trip.com app, with a minimum spend. For details of the specific offer in each territory, please refer to the table below.

Edmund Ong, Senior Product & Marketing Director (Singapore, Indonesia and Malaysia), Trip.com, said: “At Trip.com, we are always seeking to help our customers plan the perfect trip. We hope that this promotion will encourage them to explore more of the world and live their dreams, and we look forward to introducing more of such programmes together with Mastercard in the coming months.”

Flight bookings on Trip.com in the first two weeks of August increased by 160% compared to the same period a year ago, solidifying the global rebound in the travel industry.

The Explore with Mastercard promotion will run for one year, from 1 September 2023 until 31 August 2024.

Details of discounts by territory 

Territory Offer
Thailand THB670 OFF (min. spend THB16,700) on all flight bookings​
Singapore SGD25 OFF (min. spend SGD670) on all flight bookings​
Malaysia MYR88 OFF (min. spend MYR2000) on all flight bookings​
Indonesia IDR300,000 OFF (min. spend IDR7,400,000) on all flight bookings​
Vietnam VND465,000 OFF (min. spend VND11,000,000) on all flight bookings​
Philippines PHP1,055 OFF (min. spend PHP26,000) on all flight bookings​
Japan JPY2,470 OFF (min. spend JPY61,000) on all international flight bookings​
South Korea KRW26,300 OFF (min. spend KRW657,000) on all flight bookings
Taiwan TWD605 OFF (min. spend TWD15100) on all flight bookings
Hong Kong HKD155 OFF (min. spend HKD3920) on all flight bookings
Macau MOP160 OFF (min. spend MOP4030) on all flight bookings
New Zealand NZD32 OFF (min. spend NZD805) on all flight bookings
India INR1640 OFF (min. spend INR40,980) on all flight bookings
Cambodia USD20 OFF (min. spend USD500) on all flight bookings
Brunei USD20 OFF (min. spend USD500) on all flight bookings
Laos USD20 OFF (min. spend USD500) on all flight bookings
Myanmar USD20 OFF (min. spend USD500) on all flight bookings

This partnership with Mastercard is part of Trip.com’s efforts to provide its customers with exclusive deals, such as the upcoming 9.9 Super Saver Sale that will be launched in September where those based in Singapore, Malaysia and Indonesia will be able to enjoy discounts and promotional codes for hotels, flights and tours and tickets during the 6th to 9th September campaign period.

 

 

 

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Managing Travel Credit Cards easily https://dev.traveldailymedia.com/managing-travel-credit-cards-easily/ Tue, 29 Aug 2023 01:15:41 +0000 https://www.traveldailymedia.com/?p=843183 The post Managing Travel Credit Cards easily appeared first on TD (Travel Daily Media) Brand TD.

Travel Rewards are exclusive deals that airlines and hotels offer on select credit cards as perks. Though, getting these jaw-dropping offers isn’t always easy.

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Travel Rewards are exclusive deals that airlines and hotels offer on select credit cards as perks. Though, getting these jaw-dropping offers isn’t always easy. They’re usually given to experienced users who’ve built up credit points through a series of purchases and proven their creditworthiness.

How do you get to that point? By starting early. Not only does this get you a headstart on your finance journey, but also helps you check things off your bucket list! Use your credit card smartly and opt for a combination of cards to maximise your holidays ensuring it doesn’t hurt your pocket at all. Here’s the lowdown on how you can do this and travel the world while you’re still young:

  1. Find the perfect match

The abundance of travel credit card rewards make finding “the one” all the more crucial. Co-branded credit cards are the most suitable match in such cases. They bring to you the best of both worlds- security from the bank and credibility of the flight/hotel brand. These pave the way for great benefits like:-

  • Complimentary premium tickets
  • Holiday vouchers as joining benefits
  • Complimentary domestic and international lounge access
  • Hotel vouchers for stays in 5-star hotels, resorts and so much more!

Making travel luxurious, yet affordable, co-branded credit cards can be your perfect match.

  1. Discover buried treasure

Imagine trading your travel rewards for a ticket to Santorini – a true treasure. Converting your reward points into air miles and hotel bookings can feel like a truly euphoric journey. As you go about your daily spending, these points add up, and you can transform them into tangible tickets. CRED can be your best friend here with its plethora of rewards, and you can have your bank can help navigate through this transfer and smoothen the process of selecting the most viable proposition for you.

  1. Right place, Right time, Right pick 

Think back to our school days when we did ‘match the column’ – well, now you can apply that clever tactic to your spending with credit cards. Just like using the right tool for the right task, use the right credit cards for the right parts of your trip. This can bring you the most benefits while keeping your credit utilisation in check.

Feeling worried about juggling multiple cards? Don’t be. Thanks to platforms like CRED, it’s a breeze. With its smart tools, you can effortlessly keep track of your rewards, know when they expire, manage all your expenses, and much more – all in one place. It’s like having your travel and expense headquarters under a single roof.

  1. Pleasant surprises only!

Exploring the world is the ultimate escape. The last thing you want is unexpected fees eating into your travel budget. Here’s how to keep your hard-earned money where it belongs – in your pocket. The transaction fee for credit cards in foreign countries ranges anywhere from between 1%-3%. Avoid these by choosing credit cards that have your back – the ones without foreign transaction fees. Smart tools on platforms help identify transaction fees and stay away from any unpleasant surprises on your journey to fun-ville.

  1. The best travel buddy? Your phone. 

Close out the hundred tabs you have open. Put down your planners and upgrade to smarter travel. Various platforms in the market have started offering curated travel options for an unforgettable journey. From luxurious accommodations, unique activities to hygiene security checks, CRED escapes redefines travel.

Be all in – meet new people, explore new horizons, deep dive into crystal clear waters, and embark on the road not taken. As a traveller, soak in the depths of your travel escapes and find solace- the creditworthy way.

 

 

 

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The UAE government partners with Mastercard to accelerate adoption of Artificial Intelligence https://dev.traveldailymedia.com/the-uae-government-partners-with-mastercard-to-accelerate-adoption-of-artificial-intelligence/ Mon, 28 Aug 2023 03:15:45 +0000 https://www.traveldailymedia.com/?p=843108 The post The UAE government partners with Mastercard to accelerate adoption of Artificial Intelligence appeared first on TD (Travel Daily Media) Brand TD.

The UAE’s Artificial intelligence, Digital Economy and Remote Work Applications Office and Mastercard today signed a Memorandum of Understanding to increase Artificial Intelligence (AI) capabilities

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The post The UAE government partners with Mastercard to accelerate adoption of Artificial Intelligence appeared first on TD (Travel Daily Media) Brand TD.

The UAE’s Artificial intelligence, Digital Economy and Remote Work Applications Office and Mastercard today signed a Memorandum of Understanding to increase Artificial Intelligence (AI) capabilities and readiness in the region. An initial focus of the effort will be dedicated to battling financial crime, securing the digital ecosystem, and driving inclusive growth in the UAE and beyond.

Omar Sultan Al Olama, Minister of State for Artificial Intelligence, Digital Economy, and Remote Work Applications emphasized the UAE government’s dedicated efforts towards strategic collaborations with the private sector and leading international companies. These collaborations have been recognized as pivotal catalysts for expediting the adoption of Artificial Intelligence, a crucial component of the nation’s journey towards digital advancement and prosperity.

He pointed out the significance of bilateral cooperation. He emphasized the importance of realizing the aspirations outlined in the UAE Strategy for Artificial Intelligence 2031. This strategy aims to consolidate the UAE’s position as a leading hub for Artificial Intelligence. Concurrently, it seeks to foster the development of comprehensive technology-driven frameworks within priority sectors.

Furthermore, His Excellency praised Mastercard’s efforts in adopting AI, as well as their inauguration of a global center dedicated to Artificial Intelligence and advanced technology within the UAE.

Investing in Enhanced Innovation
The signing of this partnership comes as Mastercard unveiled its latest global Centre for Advanced AI and Cyber Technology in Dubai. In addition to developing AI-powered solutions to fight financial crime, the Centre will focus on securing the digital ecosystem and driving inclusive growth. It will also serve as a hub to nurture and hire local AI talent, including data engineers and data scientists, with a remit to accelerate AI innovation globally and service customers all around the world from the UAE.

“AI plays a critical role in our operations, powering our products and fuelling our network intelligence to improve digital experiences, while reducing financial fraud and risk,” said Ajay Bhalla, president, Cyber & Intelligence at Mastercard. “The combination of this latest Advanced AI Centre and our partnership with the Government of the UAE will deliver greater value for our customers and ultimately reinforce trust in the digital ecosystem.”

Mastercard’s new centre – drawing on the company’s technical knowledge and expertise – will support a new Innovation Hub in the Emirate of Dubai. Under this program, governments and businesses from across the region will collaborate on new efforts to support the continued digital transformation.

“The UAE is a global leader in developing innovative technologies to foster economic growth and drive digital transformation. For more than 35 years, Mastercard has been investing in the UAE to harness the power of technology for the good of the nation. By embracing the power of AI through this new partnership, we are ushering in the next generation of transformative technology, and actively supporting the National Artificial Intelligence Strategy 2031,” said Dimitrios Dosis, president, Eastern Europe, Middle East and Africa, Mastercard.

The Middle East is undergoing a rapid technological shift. According to IDC, investments in digital transformation are expected to double over the next few years in the Middle East. PwC estimates that AI will contribute $320 billion to the region and more than $15 trillion to the global economy by 2030. AI has the power to address some of today’s most pressing challenges, including reducing fraud while helping more people access financial services.

Heritage of AI Innovation
This Centre in Dubai is the latest in a series of investments Mastercard has made in Advanced AI, with existing centres in the US, Canada and India. To date, Mastercard has made use of AI most significantly and successfully in its efforts to enhance cybersecurity and user experiences. By applying a sophisticated AI engine, Mastercard protects more than 125 billion transactions from fraud every year – at speed and scale.

However, today we stand at the precipice of yet another transformative leap in technology, fuelled by the accessibility of generative AI. With its ability to create new content and predict a wholes series of next steps, it has the potential to transform customer experiences, enable personalized interactions and reshape industries.

At Mastercard we are using generative AI for many purposes, including through synthetic transaction data to supercharge fraud detection and boost approval rates.  Our Centre in Dubai will help us develop these new and ground-breaking use cases, and with this knowledge we plan to establish additional Advanced AI Centres across the globe, to drive continued innovation.

 

 

 

 

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SanKash and Musafir.com unite to offer Travel Now Pay Later  https://dev.traveldailymedia.com/sankash-and-musafir-com-unite-to-offer-travel-now-pay-later/ Mon, 28 Aug 2023 01:00:53 +0000 https://www.traveldailymedia.com/?p=843061 The post SanKash and Musafir.com unite to offer Travel Now Pay Later  appeared first on TD (Travel Daily Media) Brand TD.

SanKash, a travel fintech, announced that it has entered into a strategic partnership with Musafir.com. an online travel company in India to offer flexible payment options to Indian travellers.

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SanKash, a travel fintech, announced that it has entered into a strategic partnership with Musafir.com. an online travel company in India to offer flexible payment options to Indian travellers.

Through this collaboration, Musafir.com now offers its customers the flexibility to visit their dream destinations without making any down payment and availing 0% interest EMI with the travel pay later service. The entire trip cost can be converted into easy EMI’s up to 36 months giving the travelers the freedom to focus on planning and enjoying their trip rather than worrying about breaking the bank.

SanKash is the fastest-growing travel fintech in India and offers passengers quick and flexible pay in part choices to lessen the stress of one-time payment by allowing them to spread the cost from 6 months to 36 months. Commenting on the partnership, Akash Dahiya, Co-founder and CEO, SanKash, said, “Collaborating with Musafir.com to introduce this pioneering payment option is a milestone for us. This partnership not only strengthens our commitment to simplifying travel transactions but also underscores our dedication to empowering both travelers and merchants alike. The travel industry thrives on seamless experiences, and together with Musafir, we are ushering in a new era of convenience and accessibility.”

With services driven by the vision of uniting smart technology with customer satisfaction, Musafir is one of India’s leading travel websites which aims to provide premium travel experiences. Adding to the same, Rajat Suri Chief Business Officer, Musafir.com, said, “We are thrilled to announce our innovative collaboration with SanKash. As a brand committed to delivering premium travel experiences, this partnership opens a new avenue for us to enrich our offerings. The introduction of the ‘Travel Now Pay Later’ option aligns seamlessly with our core values of enhancing customer journeys through innovation and convenience. By empowering travelers to pay for their holidays in easy interest-free EMI we believe that this initiative will not only attract a broader audience but also redefine how travel enthusiasts plan and experience their adventures.

As per IBEF’s report on the Growth of the Tourism and Hospitality Industry, with current market size of US$ 70 Billion, the travel industry is expected to grow to around US$ 125 Billion by 2027. This strategic alliance between SanKash and Musafir.com aims to empower travelers to explore the world without financial constraints. With the “Travel Now Pay Later” option, travelers can experience the best available options, transparent pricing, and a premium travel experience, embodying the shared vision of both companies.

 

 

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International card networks partner with Alipay for Asian Games https://dev.traveldailymedia.com/international-card-networks-partner-with-alipay-for-asian-games/ Sun, 27 Aug 2023 22:45:22 +0000 https://www.traveldailymedia.com/?p=842965 The post International card networks partner with Alipay for Asian Games appeared first on TD (Travel Daily Media) Brand TD.

Alipay - Hotelbeds - Chinese New Year

International card networks, including Visa, Mastercard, JCB, Discover®️ Global Network, are launching a major campaign with Alipay, the leading digital payment and lifestyle service platform in China, to further enhance international visitors’ mobile payment and travel experience in the country on the 30-day countdown to the Asian Games. Under the campaign, which will run from September […]

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Alipay - Hotelbeds - Chinese New Year

Alipay - Hotelbeds - Chinese New Year

International card networks, including Visa, Mastercard, JCB, Discover®️ Global Network, are launching a major campaign with Alipay, the leading digital payment and lifestyle service platform in China, to further enhance international visitors’ mobile payment and travel experience in the country on the 30-day countdown to the Asian Games.

Under the campaign, which will run from September 15 to October 31, 2023, overseas tourists can win the opportunity to earn a discount of up to 100 RMB per transaction when making payments with their Alipay account linked to an international card of Visa, Mastercard, JCB, Discover®, and Diners Club International® at Chinese mainland merchants within the extensive Alipay merchant network during the Asian Games.

Since 2022, Alipay has partnered with international card networks to further upgrade its payment service for international travelers. After downloading the Alipay app, overseas tourists can sign up and link an international credit or debit card from Visa, Mastercard, JCB, Discover, and Diners Club to pay at tens of millions of Alipay partner merchants across China, including restaurants, cafes, tourist attractions, shopping malls, street stalls, and public transport. Recently, the Alipay app also updated travel services for international travelers to China.

Shirley Yu, Group General Manager at Visa Greater China, said: “Visa is glad to work with Alipay to provide in-bound international travelers with convenient and seamless mobile payment experiences, as the international tourism market continues to recover. Visa is committed to enabling the acceleration of global travel recovery, which means more tourism spending in local economies, and more international people-to-people exchanges through travel and cooperation in sports, culture and cross sectors.”

Dennis Chang, Executive Vice President and Division President, Greater China, Mastercard said: “Mastercard affirms its commitment to the China market, as well as to its mission of powering economies and empowering people through its continued partnership with Alipay. As travel and tourism rebound, Mastercard is delighted to work with its partners to provide enhanced digital payment solutions that address the evolving needs of international travelers and enable cardholders, worldwide, to pay like a local, ensuring peace of mind throughout their journey.”

According to the latest Mastercard data insights, consumer spending has shown resilience with a continued focus on experiences and travel. Globally, during the 2nd quarter of 2023, cross-border travel was robust, reaching 154% of 2019 levels, up 6% from the previous quarter. Meanwhile, China’s inbound cross-border travel market is also improving.

Osamu Hino, President of JCB International China, said: “We are delighted to work with Alipay to provide convenient, secure and safe mobile payment services in the Chinese mainland to JCB Card holders worldwide. In the wave of digitalization, together with Alipay, we will continue to strengthen payment technologies and services, explore more possibilities in the payment area, and offer more convenient and diverse payment solutions to users.”

Chris Winter, Managing Director, International Markets, Asia Pacific, Discover Global Network said: “By partnering with Alipay, the leading digital payment and services platform in China, we greatly enhance shopping convenience and accessibility for our valued cardholders from around the world. Through this partnership, visitors can effortlessly explore the wonders of China, from shopping and dining to embarking on exciting explorations, while immersing themselves in the rich local culture. We are dedicated to ensuring that every moment of our cardholders’ stay in China is filled with payment convenience, enjoyment, and memorable experiences.”

“We are excited to partner with card networks, other institutions and merchants to support the Asian Games. The initiative highlights our commitment to building an ecosystem of digital financial inclusion that enhances consumers’ global payment experience and drives the growth of local and cross-border commerce,” said Peng Yang, President of International Business Group, Ant Group. “We look forward to strengthening this collaborative ecosystem through more cross-border payment innovations, SME empowerment as well as sustainability projects.”

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Alipay – Hotelbeds – Chinese New Year
Voxel strengthens their collaboration with Apiso to offer flexibility in international B2B payments https://dev.traveldailymedia.com/voxel-strengthens-their-collaboration-with-apiso-to-offer-flexibility-in-international-b2b-payments/ Tue, 22 Aug 2023 00:30:28 +0000 https://www.traveldailymedia.com/?p=842425 The post Voxel strengthens their collaboration with Apiso to offer flexibility in international B2B payments appeared first on TD (Travel Daily Media) Brand TD.

Voxel continues expanding their international presence by partnering with Apiso, the B2B virtual cards integration service provider in the Middle East.

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Voxel continues expanding their international presence by partnering with Apiso, the B2B virtual cards integration service provider in the Middle East. It is already 100% integrated in Bavel Pay, the B2B payments solution by Voxel, with which it promotes advanced payment integration solutions.

“In the last three years we have strengthened this active collaboration with Apiso in order to continue with our international expansion and focus on companies in the Middle East, as Apiso is the only Bavel Pay payments service provider that operates in the local currency of the countries in this area”, explains Héctor Martín, Vice-president of Global Sales at Voxel.

Andrew Sims, Director at Apiso, said “The addition of this valuable partnership will enable Apiso to broaden its reach by gaining access to the wide range of partners and customers already integrated into the Bavel ecosystem and will drive transactions and payment volume to our issuing partners in the MEA region”.

A clear example of the benefits of this agreement is the case of Desert Gate, a DMC of the MTS-OTS group that, thanks to using Bavel Pay (which is used by all payment service providers that collaborate with Voxel) has been able to take advantage of the services provided by Apiso in the Middle East. Another company that uses the services of Apiso through Bavel Pay is Travel Trade Group.

From the start of this working relationship in 2019, explains Martín, Voxel has expanded their partners ecosystem for their B2B payments solution as well as the regional scope of their value proposal, demonstrating their continuous “commitment to simplify payments in the travel industry” and allowing each customer to make use of the service that best adapts to their needs and the territory where they operate.

“One of the differentiating values and great competitive advantage of Bavel Pay with respect to other solutions is that companies can pay and execute transactions in the local currency, leaving them less exposed to normal currency exchange fluctuations. However, many other benefits are provided such as choosing a supplier or a different payment method for each transaction and the ability to do so automatically thanks to Bavel Pay’s rules engine”, concludes Martín.

 

 

 

 

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High interest rates hitting travel even harder due to needless payment collection delays https://dev.traveldailymedia.com/high-interest-rates-hitting-travel-even-harder-due-to-needless-payment-collection-delays/ Tue, 15 Aug 2023 04:25:10 +0000 https://www.traveldailymedia.com/?p=841855 The post High interest rates hitting travel even harder due to needless payment collection delays appeared first on TD (Travel Daily Media) Brand TD.

With global interest rates hitting historical highs – currently at 5.25% in the UK following an increase recently and 5.25% in the US – and economists anticipating further increases, many businesses across the whole of the travel spectrum are finding it harder to meet their debt commitments or raise further cash.

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With global interest rates hitting historical highs – currently at 5.25% in the UK following an increase recently and 5.25% in the US – and economists anticipating further increases, many businesses across the whole of the travel spectrum are finding it harder to meet their debt commitments or raise further cash.

However, it is often overlooked that one of the main credit needs for travel businesses, particularly hotels and airlines, is to fund the delay between the provision of services and receiving payment for them.

Whilst this may have been manageable in a low-interest rate environment, this can no longer be sustainable. Not least as many travel businesses are still paying higher than average interest rates for their credit, due to the poor credit records they gained during the global pandemic.

Spencer Hanlon – from real-time global payments leader Nium – comments: “We frequently see travel businesses waiting 60 days, and more, to get paid. At the same time, we see people funding that gap using credit cards, easily paying 12% or more in annual interest rates. That means they’re losing 2%, and more of the value of their services, in just waiting to get paid!

“If your bank put transaction fees up by 2% per transaction, you’d be angry, and rightly so. And with the current uncertain economic outlook, it is quite possible that even higher levels of interest rates are coming.

What’s the answer to this problem? Essentially getting paid more quickly as slow collection affects the bottom line.“But why are so many travel companies so slow in collecting payments? Far too many travel businesses are still using 1970s era legacy systems to collect payments, often arriving via old fashioned physical credit card payments or traditional bank transfers.

“In this day and age, there is simply no justification for this. The secret to faster collection ultimately lies with a mixture of automated processes and the use of virtual credit card payments, or ‘VCCs’. This combination can significantly reduce costs and improve productivity by automating booking reconciliation and providing greater protection against failed and non-refundable supplier payments.”

Nium recommends that companies take the following actions to get paid more quickly:

  1. Have complete visibility of all transactions: reconciliations shouldn’t be time consuming.
  2. Speed up your processes: no more twice weekly payment schedules, those days are gone.
  3. Ensure everything is easily controllable: you need to be able to specify precisely the currency of use, where the transactions can occur, and control the dates on which transactions can be executed.
  4. Adopt modern fintech payment methods that are both instant and low in cost, most probably in the form of virtual credit cards (but other options exist).
  5. In short: automate all financial payments processes or you´ll forever be at the mercy of volatility of all kinds, be that interest rates, inflation, or booking cycles.

 

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Visa and Conferma Pay Partner to accelerate expansion of Visa Commercial Pay Globally https://dev.traveldailymedia.com/visa-and-conferma-pay-partner-to-accelerate-expansion-of-visa-commercial-pay-globally/ Sat, 12 Aug 2023 02:00:42 +0000 https://www.traveldailymedia.com/?p=841593 The post Visa and Conferma Pay Partner to accelerate expansion of Visa Commercial Pay Globally appeared first on TD (Travel Daily Media) Brand TD.

Visa, a global leader in digital payments, and Conferma Pay, the world’s foremost providers of virtual payments technology,  announced an extension of their strategic collaboration aimed at further enhancing Visa Commercial Pay, a suite of B2B payment solutions, to help improve cashflow for businesses and eliminate outdated manual processes.

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Visa, a global leader in digital payments, and Conferma Pay, the world’s foremost providers of virtual payments technology,  announced an extension of their strategic collaboration aimed at further enhancing Visa Commercial Pay, a suite of B2B payment solutions, to help improve cashflow for businesses and eliminate outdated manual processes.

With virtual commercial cards at its core, Visa Commercial Pay features three B2B payment offerings for financial institutions and their corporate customers, including Visa Commercial Pay Mobile app, Visa Commercial Pay Travel and Visa Commercial Pay B2B. Since its launch in 2020, Visa Commercial Pay has helped corporates to move away from traditional business payment methods, to more automated processes.

Visa Commercial Pay has been rolled out to select clients, including early adopters such as Commerce Bank, OCBC, and Umpqua Bank. The offering empowers financial institutions to deliver on their corporate customers’ virtual payments strategy and continues to drive innovation with connectivity to market-leading invoice management platforms – all through a single connection. This process improves cashflow for businesses and eliminates outdated manual processes.

“The pandemic exposed significant inefficiencies with traditional payment methods used by businesses,” said Gloria Colgan, Senior Vice President, Global Product Visa Commercial Solutions. “Our collaboration with Conferma Pay brings together two leaders in their respective fields and the result is a far more efficient payments system. With our collaboration set to continue, more clients and end users will be able to take advantage of new features such as the digital wallet tokenization and hotel cards.”

The four-year extension secures additional investment to further develop the suite of B2B payment solutions and signals a renewed joint commitment to making virtual commercial payments more widely available. The extended collaboration enables both organizations to further expand the offering in Asia, Latin America and the Middle East, with the enhanced security, compliance and control provided by Visa Commercial Pay being an incredibly important driver for issuers seeking to reduce the risk of fraud on behalf of their corporate clients.

“The world has been increasingly moving towards more digitized payments and the launch of Visa Commercial Pay has supported this transition in the commercial payments environment. Our deeper engagement with Visa will help to rapidly accelerate the growth of virtual payments for businesses,” said Jason Lalor, CEO, Conferma Pay. “We have a fantastic working relationship with Visa that has enabled the rapid delivery of software to simplify payments for businesses globally. Based on our shared vision for a more digitized payment landscape, our expanding network of B2B partners means that Visa Commercial Pay will continue to grow and remove more barriers to business.”

A key innovation within Visa Commercial Pay, which is set to help revolutionize digital payments in the travel sector, is the ability for virtual corporate cards to be added directly to a digital wallet on an employee’s mobile phone. This enables corporates to centrally manage payments, while giving employees all the benefits and security of card-in-hand products. This innovative solution greatly improves the travel experience for all parties by accessing contactless payments without the need to have details cross-checked at hotel arrival.

New issuing partners gain instant access to the network of platforms already connected to Visa Commercial Pay, meaning Visa’s commercial clients can use the suite of solutions across multiple commercial-spend use cases, without any additional development or operational complexity that often comes with launching new capabilities.

 

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Mastercard partners with One Global to introduce ‘Click to Pay’ in Kuwait https://dev.traveldailymedia.com/mastercard-partners-with-one-global-to-introduce-click-to-pay-in-kuwait/ Fri, 04 Aug 2023 04:53:48 +0000 https://www.traveldailymedia.com/?p=840696 The post Mastercard partners with One Global to introduce ‘Click to Pay’ in Kuwait appeared first on TD (Travel Daily Media) Brand TD.

Mastercard has launched Click to Pay (C2P) in Kuwait in collaboration with a leading digital transformation and innovation company, One Global™ under its Payment Service provider (PSP) license.

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Mastercard has launched Click to Pay (C2P) in Kuwait in collaboration with a leading digital transformation and innovation company, One Global™ under its Payment Service provider (PSP) license.

Mastercard’s Click to Pay sets a new standard for guest checkout transactions, delivering a more consistent experience for consumers by making it easy, secure, and fast to check out without the need to enter their card credentials or store this sensitive information with different merchants. Once enrolled, users can check out seamlessly with their stored cards in their profile on any merchant supporting the service.

One Global™ has enabled Click to Pay for the purchase of digital gift cards and gaming vouchers, such as Amazon, Apple Cards, PlayStation, and Nintendo, as well as bill payments on one of their vertical markets, called Og Money™. The mobile financial service platform serves as a one-stop shop for gaming vouchers, entertainment cards, bill payments, top-ups, utilities, travel, and other digital services. One Global™ will soon be expanding the service into other countries and support more use cases with broader adoption across their platform.

Mastercard started its collaboration with One Global™ in 2007 with several different projects. The most recent collaboration in 2022 was aimed at providing tailored financial solutions that enable the issuance of digital mobile wallets in the Middle East and North Africa.

“Mastercard is committed to offering a wide range of payment technologies to consumers. Building on our relationship, we are delighted to join forces with One Global™ to deploy Click to Pay in Kuwait and beyond as we continue to offer seamless and frictionless payment experiences across the markets we serve,” said Erdem Çakar, Country Manager, Kuwait and Qatar, Mastercard.

One Global™ is a digital transformation and innovation company specializing in fintech with 3.2 million customers on board. Since the beginning of its journey in 2004, the global player has built up a strong presence in more than 20 countries across MENA, East Africa, South and Southeast Asia, Europe, and North America. One Global™ offers a wide range of Mobilized Lifestyle® services to consumers and businesses via its vertical markets Og Money™,  Og Travel™, Og Business™, and Og Stack™.

“At One Global™, we are constantly on the lookout for ways to enhance our holistic digital financial services. The launch of C2P on Og Money™ in Kuwait offers an ideal opportunity to streamline the online checkout experience to our customers. With a global payments technology expert like Mastercard as our partner, we are well-positioned to meet fast-evolving consumer demands,” said Mohammed Al Rashidi, Founder and Executive Chairman of One Global

 

 

 

 

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Travelex opens its first UK rail bureau at London Paddington https://dev.traveldailymedia.com/travelex-opens-its-first-uk-rail-bureau-at-london-paddington/ Wed, 02 Aug 2023 08:51:34 +0000 https://www.traveldailymedia.com/?p=840382 The post Travelex opens its first UK rail bureau at London Paddington appeared first on TD (Travel Daily Media) Brand TD.

Travelex, a foreign exchange brand, has launched its first ever bureau at a UK rail station with a new branch at London Paddington.

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Travelex, a foreign exchange brand, has launched its first ever bureau at a UK rail station with a new branch at London Paddington. With Paddington connected to London Heathrow Airport via both the Heathrow Express and Elizabeth Line, the new bureau has been opened to offer added convenience for customers travelling from central London to the UK’s flagship airport.

Paddington is the 6th busiest railway station in Great Britain and in 2022/2023 welcomed 55.9million travellers. On average 150 Heathrow Express services carrying 17,000 passengers operate between Paddington and Heathrow each day, while the Elizabeth Line is already carrying 3.5 million passengers a week – well above the anticipated 2m passengers when the line opened in May 2022.

The new bureau offers a full suite of foreign exchange services – including over-the-counter conversion of over 50 different currencies, and ability for customers to purchase a pre-paid Travelex Money Card, and click-and-collect services, as well as two ATMs.

The new bureau is Travelex’s 68th store in the UK, and follows the recent opening of more than 20 new stores across Europe, Asia-Pacific, the Middle East and Brazil, as well as the expansion of Travelex’s ATM click-and-collect service across Heathrow, Manchester and Birmingham airports in the UK.

Richard Wazacz, Travelex CEO, said: “Our company mission is to simplify our customers’ access to international money and our new store at Paddington Station has been designed to do just that. This location offers customers convenience and flexibility for their currency needs whilst travelling to or from Heathrow”

Hamish Kiernan, Commercial Director, Property for Network Rail said: “Ensuring our retail mix provides customers with the best range of brands and services is key to the continued success of our station destinations. This latest letting delivers 100% occupancy for the retail at Paddington. Adding Travelex to our line-up enhances our customer experience both for regular passengers and tourists, and with the addition of click & collect it makes holiday preparation even easier.”

 

 

 

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A third of Brit holidaymakers would consider an additional sim contract to avoid EU roaming charges https://dev.traveldailymedia.com/a-third-of-brit-holidaymakers-would-consider-an-additional-sim-contract-to-avoid-eu-roaming-charges/ Mon, 31 Jul 2023 06:52:29 +0000 https://www.traveldailymedia.com/?p=839909 The post A third of Brit holidaymakers would consider an additional sim contract to avoid EU roaming charges appeared first on TD (Travel Daily Media) Brand TD.

With 49% of Brits unaware of the international roaming charges that their mobile operator impose, it is often an unwanted shock to the bank account when they return home from holiday having not factored in data usage.  

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With 49% of Brits unaware of the international roaming charges that their mobile operator impose, it is often an unwanted shock to the bank account when they return home from holiday having not factored in data usage.  

On average, people have been charged an extra £44 (approx USD 56.56) for roaming charges abroad

As Vodafone, Three and EE all now charge their customer’s data roaming when travelling to EU countries, this can amount in a charge of up to up to £2.29 (approx USD 2.94 ) per day. However, if holidaymakers are looking to travel further afield they could be charged as much as £6 per MB of data used, making it possible to spend considerable amounts.

In terms of being caught out by surprise charges to access data whilst abroad, 32% of Uswitch mobiles respondents claimed they had been stung with roaming charges whilst traveling[10]. The percentage of people that had been charged was far higher in the younger demographic, with just under half of 25-34 year olds (49%) claiming they’d faced additional charges for using data outside of their plan.

Of those that had been caught out, on average they were charged £44 on top of their existing mobile contracts, With the 35–44-year-old demographic being hit the highest, as a whole, Brits on average revealed that they were charged an additional £44 on top of thier bills.

Over half of 25–34-year-olds are likely to choose their provider based on who is offering EU roaming.

Whilst 32% of respondent’s revealed that they had been hit by roaming charges, 44% of respondents claimed that if they were given the choice, they wouldn’t be prepared to spend anything on top of their current contract. Of those willing to pay, the average amount was £16 whilst traveling.

For those travellers and holidaymakers who don’t have roaming included in their current contract, Uswitch mobiles posed the question of whether they’d seek out a temporary contract or move to a SIM only rolling contract with roaming included.

Over a third of all Brits surveyed (35%) said they’d prefer to take out a rolling SIM only contract that included EU roaming than a temporary contract or international SIM solution. More than half of 25–34-year-olds (53%) said they were more likely to take out a rolling SIM only contract than another temporary option.

However, whilst fewer UK providers now offer inclusive EU roaming, it’s clear that it may still be a key decider for consumers when choosing their network. Over half of 25-34 respondents (53%) said they were likely to choose their mobile network provider based on whether they offered EU roaming. Of the main network providers in the UK, O2 is  the only one that still offers EU roaming as standard, while some MVNOs (mobile virtual network operators) such as iD Mobile and Lebara also still offer EU roaming as part of some contracts and plans.

Uswitch’s mobiles expert, Rehan Ali comments, “As the summer holiday season approaches, it’s clear that being able to access data while abroad is a top priority for many Brits. With inclusive roaming now being a rarer perk amongst mobile networks, we anticipate that consumers may shift towards providers that still offer inclusive EU roaming in their plans.

Whilst some providers are offering temporary international SIM solutions (e.g. eSIMs), Brits would prefer to have roaming included in their existing phone contract. With the average UK consumer being caught out as much as £44 in additional charges, it’s important Brits seek out the best options before they travel abroad this summer.”

 

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BCFC partners with Mastercard https://dev.traveldailymedia.com/bcfc-partners-with-mastercard/ Tue, 25 Jul 2023 00:16:40 +0000 https://www.traveldailymedia.com/?p=838335 The post BCFC partners with Mastercard appeared first on TD (Travel Daily Media) Brand TD.

Bahrain Commercial Facilities Company (BCFC) has renewed the partnership agreement with Mastercard which will support BCFC to further enrich its IMTIAZ card offering, an innovative credit card issuer in the Kingdom of Bahrain.

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Bahrain Commercial Facilities Company (BCFC) has renewed the partnership agreement with Mastercard which will support BCFC to further enrich its IMTIAZ card offering, an innovative credit card issuer in the Kingdom of Bahrain.

The partnership renewal signing ceremony featured the announcement of major significant initiatives including the introduction of the Mastercard World Elite card tailored for affluent clients and the launch of bespoke corporate credit cards designed to cater to the specific requirements of Corporates and Small and Medium Sized Enterprises (CSME) and other businesses within the Kingdom of Bahrain. The partnership will also introduce Mastercard loyalty solutions to provide consumers an enhanced experience and extend benefits that matches their lifestyle and aspirations.

Abdulla Bukhowa, BCFC Chief Executive Officer, commented on the agreement, saying: “The renewal of our 14-year partnership with Mastercard demonstrates the success of IMTIAZ card in satisfying and exceeding the needs and expectations of our customers. We remain committed to provide the highest levels of safety and security, as well as financial flexibility and purchasing power, to ensure that our customers have an unparalleled experience.”

He added: “We are delighted to announce that our collaboration with Mastercard has now moved to a new level of coordination. Thanks to our dedicated team,  we are confident that we can provide unparalleled solutions for the growth & expansion strategy, offering users, citizens, and residents unique benefits.”

Khalid Elgibali, Division President, Middle East and North Africa at Mastercard, stated: “Our partnership with BCFC is a key milestone in our journey to build an inclusive digital economy that’s works for all, in Bahrain and beyond. We look forward to expanding our portfolio and introducing innovative payment solutions to meet the evolving needs of our consumers.”

The IMTIAZ credit card from BCFC provides its holders with a comprehensive set of integrated benefits. These include access to airport lounges across the world, exclusive travel & shopping offers, in addition to 24-hour customer service.

 

 

 

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Mastercard and Nirvana Travel and Tourism partner to provide innovative payment solutions https://dev.traveldailymedia.com/mastercard-and-nirvana-travel-and-tourism-partner-to-provide-innovative-payment-solutions/ Wed, 19 Jul 2023 06:57:08 +0000 https://www.traveldailymedia.com/?p=837158 The post Mastercard and Nirvana Travel and Tourism partner to provide innovative payment solutions appeared first on TD (Travel Daily Media) Brand TD.

Mastercard and Nirvana Travel and Tourism – one of the UAE’s travel and tourism management company – have joined forces in an exclusive collaboration aimed at providing a unique payment solution to customers who book travel services in the UAE, Saudi Arabia, Egypt and Jordan.

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Mastercard and Nirvana Travel and Tourism – one of the UAE’s travel and tourism management company – have joined forces in an exclusive collaboration aimed at providing a unique payment solution to customers who book travel services in the UAE, Saudi Arabia, Egypt and Jordan. This is a game-changing collaboration that will revolutionize and further facilitate travel for both the corporate and leisure traveller, making it easier and more convenient than ever before.

Leveraging Mastercard’s cutting edge technology, the partnership is all about digitizing the end-to-end payment experience for both consumer and commercial transactions across Nirvana’s value chain, providing customers with unmatched convenience, security and flexibility, whether they are booking flights, hotels or other travel services provided by Nirvana. In addition, corporate clients can benefit from integrated travel expense management solutions.

“At Mastercard, we recognize travel as a key passion point, and we know that safe and secure contactless payments have an important part to drive superior customer engagement. We are delighted to collaborate with Nirvana Travel & Tourism and its group of companies, as one of the top travel agencies in the UAE, as their strategic digitalization partner, and look forward to providing their corporate and retail clients with innovative solutions for a seamless experience,” said Amnah Ajmal, Executive Vice President, Market Development, Eastern Europe, Middle East and Africa, Mastercard.

Comprising four large-scale independent entities – Nirvana Travel & Tourism, Nirvana Global Travel, Nirvana Over the World and Nirvana Tours & Logistics, Nirvana’s group of companies is one of the UAE’s biggest homegrown online travel and logistics service providers with more than 70 branches worldwide. It is a leading travel agent for Emirates and Etihad in the country and a key service provider for many UAE government entities.

“We always look to develop advanced and state of the art solutions to further enhance our customer’s journey, and by collaborating with a globally renowned and customer focused name like Mastercard, I believe we can take our customer’s experience to elevated levels of excellence” said Alaa Al Ali, CEO of Nirvana Holding.

Nirvana also offers travel management and planning, innovative corporate travel solutions, visa processing, concierge assistance, event logistics, retail and wholesale services, first-class and VIP services for diverse private, government and semi-government clients.

The expectation for travel in 2023 is no less than that of last year. According to an analysis by the Mastercard Economics Institute, global leisure travel remains robust, up roughly 31% in March 2023 compared to the same period in 2019, representing an impressive 25% year-over-year-to-date change from 2022 to 2023., signalling continued robust demand after a strong first half of the year despite rising economic challenges.  The ‘Travel Industry Trends 2023 report also signals continued robust demand by the help of outbound tourism expenditures from mainland China getting closer to pre-pandemic levels. By March 2023, Chinese spending on experiences abroad surged from virtually zero last year to now just below where it was in 2019.

 

 

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“Bliss More with AEON Royal Orchid Plus” https://dev.traveldailymedia.com/bliss-more-with-aeon-royal-orchid-plus/ Tue, 18 Jul 2023 05:40:57 +0000 https://www.traveldailymedia.com/?p=836897 The post “Bliss More with AEON Royal Orchid Plus” appeared first on TD (Travel Daily Media) Brand TD.

AEON Thana Sinsap (Thailand) Public Company Limited presented an exciting journey with the "Bliss More with AEON Royal Orchid Plus" campaign and get round trip tickets from Thai Airways to fascinating destinations.

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AEON Thana Sinsap (Thailand) Public Company Limited presented an exciting journey with the “Bliss More with AEON Royal Orchid Plus” campaign and get round trip tickets from Thai Airways to fascinating destinations. Explore awe-inspiring architecture among the Alps in Munich, Germany. Or enjoy dining, sightseeing, religious activities, and shopping experience in Hong Kong or earn up to 15,000 bonus miles by accumulating spending with AEON Royal Orchid Plus World Mastercard Card and AEON Royal Orchid Plus Platinum Card at participating merchants worldwide* until August 31, 2023.

Exclusive for AEON Royal Orchid Plus World Mastercard and AEON Royal Orchid Plus Platinum credit cardholders to get more perks from every spending at merchants worldwide. Get a round trip economy class ticket of Thai Airways on rounting Bangkok – Munich, valued at 34,500 baht, when accumulated spending via AEON Royal Orchid Plus credit cards from 3,000,000 baht up.

Or a round trip economy class ticket of Thai Airways on rounting Bangkok – Hong Kong worth 14,000 baht when accumulated spending via AEON Royal Orchid Plus credit cards from 1,500,000 baht up. Or receive 10,000 mileage when accumulated spending of 500,000 baht or more and 5,000 extra mileage with over 50,000 baht spent in foreign currency at merchants worldwide.* (a maximum of 15,000 mileage per primary card account during the promotion period).

Simply participate in the program by sending an SMS message by typing BMR@ followed by a 16-digit credit card number (without spaces) and send to 4221475 or via AEON Mobile App or website aeon.co.th

 

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IDFC FIRST Bank, Club Vistara and Mastercard launch new credit card to redefine travel experiences https://dev.traveldailymedia.com/idfc-first-bank-club-vistara-and-mastercard-launch-new-credit-card-to-redefine-travel-experiences/ Fri, 14 Jul 2023 03:15:42 +0000 https://www.traveldailymedia.com/?p=835658 The post IDFC FIRST Bank, Club Vistara and Mastercard launch new credit card to redefine travel experiences appeared first on TD (Travel Daily Media) Brand TD.

Adding to its extensive customer-first portfolio of financial products, IDFC FIRST Bank today announced its collaboration with Club Vistara and Mastercard to launch a travel credit card.

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Adding to its extensive customer-first portfolio of financial products, IDFC FIRST Bank announced its collaboration with Club Vistara and Mastercard to launch a travel credit card. Designed to provide exciting travel and lifestyle-related offers to cardholders, the new card will combine seamless banking services with numerous travel benefits.

The collaboration between the three companies highlights a shared commitment to provide extraordinary value and advantages to customers. The co-branded credit card is designed to redefine travel experiences and empower cardholders to embark on their journeys with confidence, and in style.

The card will meet the ever-changing demands of new-age travellers, blending convenience and security to enhance travel experiences. From exclusive entry to airport lounges and complimentary flight tickets to accelerated reward points, it will offer a comprehensive solution tailored specifically for frequent flyers and travel enthusiasts.

“We are thrilled to introduce the Club Vistara IDFC FIRST Credit Card, a product that truly embodies our commitment to providing exceptional experiences to our customers,” said Madhivanan Balakrishnan, COO and Executive Director at IDFC FIRST Bank. “This card will redefine the way people travel, offering a range of exclusive benefits and rewards that cater to the diverse needs of modern travellers. The launch of this co-branded credit card demonstrates our commitment to bring convenience and value to our customers and we are excited to partner with Club Vistara, a leading name in the aviation industry. We are confident in this partnership’s ability to deliver unmatched value and elevate the travel experience for our esteemed customers.”

Speaking on the partnership, Deepak Rajawat, Chief Commercial Officer, Vistara said, “Being a pioneering brand that introduced many industry-first initiatives to the Indian aviation market, we are delighted to partner with IDFC FIRST Bank and Mastercard to offer this new, unique credit card to our customers. With its travel benefits and features, this new offering reiterates our commitment towards creating a distinguished experience for our customers.”

Commenting on the launch, Mukul Sukhani, Senior Vice President, South Asia Mastercard said, “As consumers take advantage of a more traditional travel ecosystem in 2023, prioritizing leisure travel and pioneering new corridors around the world, Mastercard is thrilled to introduce a specially designed credit card for travel enthusiasts in collaboration with IDFC FIRST Bank and Club Vistara. Packed with exciting rewards and perks, this unique card enables cardholders to enjoy the new experience of convenience and luxury while travelling.”

Features and Benefits:

  • Joining Benefits: A free Premium Economy flight ticket along with an upgrade voucher
  • Best-in-class rewards (in the form of CV Points) on all spend categories. Here are the details of the CV Points offered on this card:

o   Spends of up to Rs.1 lakh per month – 6 CV Points per Rs.200

o   Spends above Rs.1 lakh per month – 4 CV Points per Rs.200

o   1 CV point on mandatory spends such as Fuel, Insurance, Utility, Rent & Wallet Load (exclusion: EMI payments only)

  • Activation Offers:

o   Month 1 – Spend Rs.30,000 and earn 2000 CV Points

o   Month 2 – Spend Rs.30,000 and earn 2000 CV Points

o   Month 3 – Spend Rs.30,000 and earn 2000 CV Points

  • Tiered Annual Rewards: Unlock free tickets basis the cumulative annual spending on the card

o   More than Rs.1,50,000: 1 additional Premium Economy Class Ticket

o   More than Rs.3,00,000: 1 additional Premium Economy Class Ticket

o   More than Rs.4,50,000: 1 additional Premium Economy Class Ticket

o   More than Rs.9,00,000: 1 additional Premium Economy Class Ticket

o   More than Rs.12,00,000: 1 additional Premium Economy Class Ticket

  • Golf Benefits:

o   Four complimentary rounds of green fees per calendar year (maximum one round in a calendar month)

o   12 complimentary golf lessons per calendar year (one lesson per calendar month)

o   Discounted golf services at 50% of the green fee beyond complimentary sessions

  • CFAR Insurance: The card offers a cover on non-refundable components of any travel booking with up to two claims worth up to Rs.10,000 on Flight & Hotel booking for the cardholder, under Cancelled For Any Reason (CFAR) Insurance
  • Birthday Benefit: 10X CV Points on dining spends on birthdays
  • Lounge Benefits: 8 complimentary domestic airport spa and lounge access per year, along with one complimentary international airport lounge access per quarter, on an average monthly spend greater than Rs.5,000

IDFC FIRST Bank customers can apply for the Club Vistara IDFC FIRST Credit Card through a seamless digital process available on the bank’s website and mobile application. With the Club Vistara IDFC FIRST Credit Card, IDFC FIRST Bank continues to strengthen its position as a pioneer in the banking industry, consistently introducing innovative products and services that cater to the evolving needs of its customers. The launch of this credit card marks another milestone in IDFC FIRST Bank’s journey of delivering unparalleled convenience, value, and delight to its ever-growing customer base.

 

 

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Record summer bookings stretching finances of many due to outdated payments tech https://dev.traveldailymedia.com/record-summer-bookings-stretching-finances-of-many-due-to-outdated-payments-tech/ Wed, 12 Jul 2023 03:15:51 +0000 https://www.traveldailymedia.com/?p=834458 The post Record summer bookings stretching finances of many due to outdated payments tech appeared first on TD (Travel Daily Media) Brand TD.

This year’s more than welcome record summer for travel bookings brings with it the unwelcome need to increase working capital, warns Spencer Hanlon from global real-time payments platform Nium.

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This year’s more than welcome record summer for travel bookings brings with it the unwelcome need to increase working capital, warns Spencer Hanlon from global real-time payments platform Nium, which provides services to online travel agencies, hotels, and airlines around the world. 

He points out that “without increasing working capital, a company could potentially be wiped out this summer despite an abundance of willing clients. That’s because, sadly, too many travel companies don’t get paid until long after providing the service or laying out money in advance.

“Most have to fund this gap with credit, which is not always easy to access quickly when facing a sudden booking windfall. This is predicted to happen this year, with levels of bookings broadly returning to 2019 levels and even higher in some cases according to the UNWTO.

“Meanwhile, the delay between providing services and getting paid could be exacerbated by back-office finance teams across the travel chain being overwhelmed by the increased level of bookings.

Spencer believes that this problem will be further aggravated by the fact that such teams were cut heavily during the pandemic and have not yet returned to full capacity. This is in part due to the global labour shortage, but also because priority is often placed on recruiting front-office staff.

To overcome these challenges, Nium recommends that travel companies who feel they might be vulnerable to this consider taking the following actions immediately:

  • Firstly, understand what credit options are available to you so you can act swiftly should you need it. Start that conversation with your bank or other potential sources of credit sooner rather than later, making sure to explain and prove the high volume of bookings you have taken on or anticipate.
  • Secondly, communicate proactively with your partners to make sure they understand why you need prompt payments; they may not know the strain such high volumes are placing on you.Ask yourself if it might be reasonable to introduce payment terms more favourable to yourself, such as asking to be paid on specific dates.
  • And thirdly, try to avoid old-fashioned bank transfers when making or receiving cross-border payments, especially if they are of high volume and low value. This payment method is not only expensive, but it can be very slow and add needless back-office admin time, increasing your working capital needs.Instead, ensure you’re capitalising on real-time payments infrastructure to speed up payments, reduce costs, and give you greater control and visibility on where your money is at any time. Are you receiving money in the right currency and in the digital wallet, bank account, or credit card of your choice? If not, find the right provider who can handle all of this.

Summarising, Spencer states: “If you follow these steps, everyone will thank you and your creditors might be more open to increasing credit, as they would more easily understand your financial situation. Of course, there will likely always be some gap between providing a service and getting paid. But if you don’t do your best to shorten this period, then at best you’re reducing your profitability and at worst leaving yourself open to the risk that your busiest summer could, rather ironically, be your last.”

 

 

 

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Tinaba and Ant Group expand their partnership to allow Italians to pay in Asia directly with their App via Alipay+ solutions https://dev.traveldailymedia.com/tinaba-and-ant-group-expand-their-partnership-to-allow-italians-to-pay-in-asia-directly-with-their-app-via-alipay-solutions/ Wed, 05 Jul 2023 01:45:49 +0000 https://www.traveldailymedia.com/?p=831835 The post Tinaba and Ant Group expand their partnership to allow Italians to pay in Asia directly with their App via Alipay+ solutions appeared first on TD (Travel Daily Media) Brand TD.

Tinaba has signed a groundbreaking partnership deal with Alipay+ to become its latest digital payment partner, allowing its customers direct access to more than 2.5 million Alipay+ supported stores

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The post Tinaba and Ant Group expand their partnership to allow Italians to pay in Asia directly with their App via Alipay+ solutions appeared first on TD (Travel Daily Media) Brand TD.

Tinaba has signed a groundbreaking partnership deal with Alipay+ to become its latest digital payment partner, allowing its customers direct access to more than 2.5 million Alipay+ supported stores. Tinaba is the first European bank-affiliated mobile wallet, and the only one in Italy, which has partnered with Alipay+, thus enabling its customers to make payments – in euros and in their own language – in Asia directly, from the Tinaba app.

Italian travellers who are Tinaba customers are now able to make cross-border payments via QR code at Alipay+ partner merchants, both in South Korea – thanks to the support of Kakao Pay – and in Malaysia. From the beginning of July, the service will also be extended through Alipay+ solutions in Australia and Qatar, with further extensions in more Asian nations and other markets around the world, with a goal to cover the entire Asia continent.

Through simple integration, Alipay+ provides a suite of global and unified digital payment solutions, as well as marketing tools, to connect merchants with multiple e-wallets, banking apps, and other digital payment methods from different countries.

Introduced by Ant Group, Alipay+ has a global coverage that enables millions of merchants to connect with more than 1 billion mobile-savvy consumers, who are guaranteed a smooth and secure payment experience with access to promotions, benefits, and services from merchants around the world.

The integration of Alipay+ is one more piece of the already extensive partnerships between Ant Group, Tinaba, and Banca Profilo as acquirers, which began in 2019. Currently, Chinese tourists can make payments and get promotions with Alipay at thousands of Italian stores, restaurants, in cabs, and at tourist attractions in Italy. The partnership, which is also expanding in Italy, is a payments ecosystem with a unique experience without language and currency barriers. The seamless experience is now being extended to other Asian travellers under the collaboration between Alipay+ and Tinaba.

Matteo Arpe, President of TINABA commented: “The further expansion of our historic partnership with Alipay allows Tinaba customers to travel around the world and pay with their cell phones safely and in their own language without worrying about cash and foreign exchange anymore. We are especially proud because we are the first European operator with this unique technological offering, through the union of the typically Western credit card payment network with the Eastern one based on QR Code technology offering our customers, even very young ones, the possibility to move around the world safely just with their cell phones.”

“By expanding our partnership with Tinaba, we look forward to better connecting Italian and European tourists to Asian markets, offering a great exchange rate, along with digital services and promotions through the power and simplicity of QR code payments. We appreciate Tinaba’s innovative and forward-thinking business philosophy of helping banks keep up with the latest in mobile fintech, and we believe that Banca Profilo can support their growth with a comprehensive offering designed for mobile customers,” said Guoming Cheng, general manager of Ant Group in Europe and the Middle East.

Shin Won-Keun, the CEO of Kakao Pay, said “Kakao Pay will actively support Italian tourists visiting Korea to pay with Tinaba at Kakao Pay’s affiliated stores even if they have only one mobile phone without exchanging money.” And he also added that “We will try to provide the most convenient experience for Korean and Italian users with the innovative payment services of Kakao Pay and Tinaba.”

 

 

 

 

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Mastercard debuts the APAC dining experience with LUMA in Hong Kong https://dev.traveldailymedia.com/mastercard-debuts-the-apac-dining-experience-with-luma-in-hong-kong/ Mon, 03 Jul 2023 22:30:17 +0000 https://www.traveldailymedia.com/?p=831673 The post Mastercard debuts the APAC dining experience with LUMA in Hong Kong appeared first on TD (Travel Daily Media) Brand TD.

Hong Kong’s economic revival is in full swing, with residents keeping their social calendars busy—and the city welcoming back global visitors. Against this backdrop, Mastercard and distinguished local F&B group LUBUDS, have announced the launch of LUMA, a new restaurant occupying a prime location at 1881 Heritage, a historical landmark that has been transformed into […]

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Hong Kong’s economic revival is in full swing, with residents keeping their social calendars busy—and the city welcoming back global visitors. Against this backdrop, Mastercard and distinguished local F&B group LUBUDS, have announced the launch of LUMA, a new restaurant occupying a prime location at 1881 Heritage, a historical landmark that has been transformed into a luxury lifestyle hub in the vibrant Tsim Sha Tsui district.

Opened exclusively to Mastercard cardholders beginning June 29, diners at LUMA can look forward to enjoying a tantalizing multi-course fusion tasting menu that will be designed – and constantly refreshed – by a rotating roster of LUBUDS Group’s acclaimed chefs. As masters of their craft, they will interpret the radiance and distinct flavours of Asian, Chinese and European favourites and signature dishes in their own unique styles. 

“At Mastercard, we strive to bring people closer to their passions – and each other,” said Raja Rajamannar, Chief Marketing & Communications Officer, Mastercard. “Food transports us to new places, delivering unforgettable experiences as we explore different cultures and regions through taste. This is why we are thrilled to extend our culinary footprint with LUMA in Hong Kong, bringing truly special experiences to cardholders from around the world.” 

The name LUMA – an amalgamation of the words LUBUDS and Mastercard – is at once uplifting and easy to pronounce by speakers of many languages. A derivative of the word luminous, LUMA evokes light, radiance, and illumination. An apt name for a venue designed to spotlight the mastery of Hong Kong’s homegrown culinary talents while it also welcomes the electric energy that guest chefs will contribute, starting with the Michelin-starred Bjoern Alexander in August 2023.

“Since teaming up with Mastercard, it has been an honor to welcome Mastercard cardholders to dozens of LUBUDS venues across Hong Kong to enjoy special dining privileges, surprises, and priceless culinary experiences. Mastercard and LUBUDS are passionate about supporting Hong Kong’s economic and cultural revival and making a distinctive contribution to its dynamic food scene. With the launch of LUMA, we’re taking our collaboration to the next level to give culinary connoisseurs from around the world more of what they crave – the finest food and novel experiences in a stunning venue,” said Louie Chung, Founder and Chief Executive Officer, LUBUDS Group.

The LUMA complex houses multiple spaces: an elegant, intimate dining room that seats up to 60 people, a cocktail bar, a dedicated art space, and a breezy balcony overlooking Hong Kong’s spectacular skyline. 

“In LUBUDS, Mastercard has found a collaborator who is as passionate about designing and delivering priceless experiences for their customers as Mastercard is,” said Helena Chen, Managing Director, Hong Kong & Macau, Mastercard. “At a time when the majority (69%) of consumers across the Asia Pacific region are prioritizing experiences over material possessions, and diners in Hong Kong are fueling a rapid rebound in restaurant spend that has already reached 88% of Q1 2019 levels, the launch of LUMA couldn’t come at a better time.” 

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Alipay and Mastercard offer international travellers ways to make cashless payments in China https://dev.traveldailymedia.com/alipay-and-mastercard-offer-international-travellers-ways-to-make-cashless-payments-in-china/ Fri, 23 Jun 2023 03:45:33 +0000 https://www.traveldailymedia.com/?p=828697 The post Alipay and Mastercard offer international travellers ways to make cashless payments in China appeared first on TD (Travel Daily Media) Brand TD.

Mastercard and Alipay, China’s digital open platform under Ant Group,  announced the launch of a new payments option that provides international arrivals to China with another simple and secure way to go cashless when visiting the country.

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The post Alipay and Mastercard offer international travellers ways to make cashless payments in China appeared first on TD (Travel Daily Media) Brand TD.

With the resumption of travel and tourism to China in full swing, Mastercard and Alipay, China’s digital open platform under Ant Group,  announced the launch of a new payments option that provides international arrivals to China with another simple and secure way to go cashless when visiting the country.

Expanding on a partnership established in 2019 to offer enhanced digital payment solutions to both consumers and merchants, the new service by Alipay and Mastercard offers another safe and convenient way for international visitors to China to pay like a local when traveling around the Chinese Mainland, regardless of where in the world their Mastercard card was issued. Cardholders simply need to link their existing Mastercard credit or debit card to the Alipay digital wallet – and that’s it! There’s no need to set up or top up a prepaid account. (Download the wallet here.)

By having the choice to pay cashless, via mobile devices, at tens of millions of Alipay acceptance locations across the country where QR codes are the most popular form of payment, Mastercard cardholders from around the globe will have the option to transact with ease and convenience while in China, just like locals do.

According to the Mastercard Economics Institute’s fourth annual travel report, Travel Industry Trends 2023, the global sector is rebounding, with leisure travel bookings up roughly 31 percent in March 2023 compared to the same period in 2019, driven by high-income consumers. It is believed that popular travel destinations, including the Chinese Mainland, will actively benefit from this trend.

“We strive to enable more consumers and SMEs to enjoy the benefits brought by inclusive digital payment services,” said Venetia Lee, General Manager of Ant Group Greater China International Business. “The new service offered by Alipay and Mastercard will not only enable a better experience for international travelers when visiting China but will also unlock more business opportunities for merchants on the Alipay open platform as global travel is set for rapid growth.”

For merchants, especially small and medium-sized enterprises (SMEs), the Alipay-Mastercard tie up gives them more opportunities to transact with international visitors who will now have access to the most widely accepted payment method in China, allowing them to get around easily, without hassle.

Courtesy of Mastercard Payment Gateway Services (MPGS), overseas card transactions completed on the Alipay digital wallet are processed through Mastercard’s omnichannel payments platform that enables merchants – large and small – to easily accept a payment from anywhere in the world, helping businesses to grow, and consumers to transact safely and securely while at home or abroad.

“This next step in the partnership with Ant Group exemplifies Mastercard’s long term commitment to the China market, and the company’s continuous global effort to power economies and empower people,” said Dennis Chang, Executive Vice President and Division President, Greater China, Mastercard. “As travel and tourism rebounds, Mastercard is delighted to partner with Alipay to enable cardholders worldwide to enjoy the ultimate in payments security, convenience, and peace of mind as they work, play, rest, and roam during their journeys to China.”

In addition, travelers holding Mastercard cards issued in South Korea and China’s Hong Kong SAR, Macao SAR and Taiwan region can register at Mastercard Travel Rewards to enjoy additional privileges such as cashback for spend on popular travel activities such as shopping, dining, sightseeing, and transportation, effective immediately.

 

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Travelex launches FX partnership with Bank of New Zealand (BNZ) https://dev.traveldailymedia.com/travelex-launches-fx-partnership-with-bank-of-new-zealand-bnz/ Thu, 22 Jun 2023 03:44:00 +0000 https://www.traveldailymedia.com/?p=828389 The post Travelex launches FX partnership with Bank of New Zealand (BNZ) appeared first on TD (Travel Daily Media) Brand TD.

Travelex, the market leading foreign exchange brand in New Zealand, has launched an FX affiliate referral programme with long term bank partner BNZ, enabling BNZ’s 1.2m customers to access discounted travel money.

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The post Travelex launches FX partnership with Bank of New Zealand (BNZ) appeared first on TD (Travel Daily Media) Brand TD.

Travelex, the market leading foreign exchange brand in New Zealand, has launched an FX affiliate referral programme with long term bank partner BNZ, enabling BNZ’s 1.2m customers to access discounted travel money.

The partnership enables BNZ customers to access discounted travel money on the Travelex website or in one of Travelex’s New Zealand stores, simply by presenting a valid BNZ bank card or bank statement.

In the first few months of the partnership, over 3,000 BNZ customers have already received a discount on their travel money. The discount covers both cash and currency loaded onto Travelex’s award-winning pre-paid Travelex Money Card, which can be loaded with nine different currencies, has no ATM withdrawal or conversion fees, and is accepted at millions of outlets around the world.

The new programme with BNZ follows a successful period of growth for Travelex in New Zealand. In recent months the company announced contract extensions at Auckland Airport and Queenstown Airport and new stores in Albany and Nelson. Travelex has also expanded its 20-year partnership with House of Travel, the largest privately owned travel company in New Zealand and the third largest travel organisation in the Asia Pacific region, with over 50 branches.

Dominic Mesiti, Head of Commercial Partnerships ANZ, Travelex, says: “Travel plays an important part in creating lifelong memories and experiences and Travelex aims to provide peace of mind when it comes to travel money so our customers can focus on the good stuff. Being able to support BNZ and its community of 1.2m customers with a discounted travel money solution – either at any of Travelex’s airport and off airport branches across NZ, or when ordering online – is therefore very special for us, and something we are proud of as the global leader in travel money.”

Karna Luke, Executive, Customer, Products and Services, BNZ, says: “At BNZ, we’re committed to serving our customers brilliantly, whether they’re at home or travelling abroad. We’re delighted to extend our longstanding partnership with Travelex, which provides another way for our customers to access quality products and services.”

 

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PayDocker: Revolutionising the travel and hospitality industry with cutting-edge solutions https://dev.traveldailymedia.com/paydocker-revolutionising-the-travel-and-hospitality-industry-with-cutting-edge-solutions/ Wed, 21 Jun 2023 01:15:44 +0000 https://www.traveldailymedia.com/?p=827270 The post PayDocker: Revolutionising the travel and hospitality industry with cutting-edge solutions appeared first on TD (Travel Daily Media) Brand TD.

 PayDocker part of Bakuun Holdings, a pioneering technology company, is thrilled to announce its final unveiling of PayDocker on June 15th, ushering in a new era of transformative innovations for businesses in the travel and hospitality industry

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PayDocker part of Bakuun Holdings, a pioneering technology company, is thrilled to announce its final unveiling of PayDocker on June 15th, ushering in a new era of transformative innovations for businesses in the travel and hospitality industry. With its three core product lines—Master Orchestration, Marketplace Exchange, and Credit Solutions—PayDocker aims to empower businesses to run, manage, and scale up their operations efficiently while driving growth and profitability.

The travel and hospitality industry requires advanced technological solutions to meet changing consumer demands and market dynamics. PayDocker is set to revolutionize the sector with its cutting-edge products. Through our token and object, we can serve as a centralized hub for seamless transactions and information exchange among accommodations and travel operators, ensuring a secure business environment.

PayDocker also provides streamlined credit solutions that empower businesses to manage liabilities and enhance credibility. Their Credit Line offers accessible and contemporary approaches, fostering financial inclusion, expanding credit availability for travel agencies, and more.

“PayDocker’s official launch on June 15th marks a significant milestone in the company’s journey to redefine the future of the travel and hospitality industry,” said Marco Bacchilega, Founder and CEO of PayDocker. “With its visionary approach, industry expertise, and commitment to excellence, PayDocker is poised to become the go-to partner for businesses worldwide seeking transformative technology solutions to drive success in the digital age.”

 

 

 

 

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Mastercard partners with Bankiom to issue virtual prepaid cards across GCC region https://dev.traveldailymedia.com/mastercard-partners-with-bankiom-to-issue-virtual-prepaid-cards-across-gcc-region/ Tue, 20 Jun 2023 03:00:15 +0000 https://www.traveldailymedia.com/?p=826981 The post Mastercard partners with Bankiom to issue virtual prepaid cards across GCC region appeared first on TD (Travel Daily Media) Brand TD.

Mastercard is partnering with Bankiom, a UAE-based lifestyle banking app, to introduce digital payment cards across the UAE, Saudi Arabia, Bahrain, Kuwait, and Oman.

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Mastercard is partnering with Bankiom, a UAE-based lifestyle banking app, to introduce digital payment cards across the UAE, Saudi Arabia, Bahrain, Kuwait, and Oman. This partnership marks a significant stride in Mastercard’s ongoing commitment to advancing digitalization in the payments landscape throughout the region.

“As we move into a more digital world, building productive synergies with multi-market, agile fintech partners such as Bankiom is crucial. The GCC alone has one of the world’s highest rates of internet penetration at 98% of the region’s population. Our partnership will help us leverage our innovative payment solutions to drive digital and financial inclusion across the region,” said Amnah Ajmal, Executive Vice President Market Development, EEMEA, Mastercard.

“Bankiom is a building a digital bank for that moment in your life where you want to live life to the max, and we’re calling it PuraVida. Think of it as a subscription to the ‘good life’. Our mission is to spread happiness through financial services; so partnering with Mastercard, especially with their Priceless brand, was a no brainer for us. We both share the same mission and we both share the same passion to deliver amazing, memorable life experiences for our customers,” said Danny Abla, Founder of Bankiom.

Launched in March 2022, Bankiom has more than 30,000 verified users and is growing at 20% per week, with a target to hit 1 million within three years. Bankiom, through PuraVida and in collaboration with Mastercard, is tapping into the evolving needs of a vibrant, tech-savvy generation and empowering them to live life to the fullest.

 

 

 

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Overlooked, underloved & underestimated: but is ‘B2B payments’ becoming a less taboo topic in travel? https://dev.traveldailymedia.com/overlooked-underloved-underestimated-but-is-b2b-payments-becoming-a-less-taboo-topic-in-travel/ Fri, 16 Jun 2023 03:15:50 +0000 https://www.traveldailymedia.com/?p=825580 The post Overlooked, underloved & underestimated: but is ‘B2B payments’ becoming a less taboo topic in travel? appeared first on TD (Travel Daily Media) Brand TD.

The perception of B2B payments is evolving steadily as many begin to see more than just cost-saving opportunities through embracing new fintech services, comment four experts during a Phocuswright Europe session.

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 (Left to Right) Pasucal, Roberto, Will and Spencer

 

The perception of B2B payments is evolving steadily as many begin to see more than just cost-saving opportunities through embracing new fintech services, comment four experts during a Phocuswright Europe session.

Directly or indirectly, in business everyone wants to see the money. So why, historically, has it been so hard to get travel industry professionals to talk about B2B payments? This week at the Phocuswright Europe event taking place in Barcelona four industry experts on travel payments held a roundtable session to discuss just what lays behind that – and reflect on how that situation is evolving.

“In the past getting people to talk about B2B payments was like getting them to go to the dentist or file a tax return…in other words something that gets put off,” commented Spencer Hanlon from Nium, a global real-time payments platform that serves online travel agencies, hotels and airlines around the world.

Roberto Da Re from Travel Ledger – a B2B Billing and Settlement company – adds: “No one came into the travel industry to talk about payments, and we get that. They joined because of their passion for travel. And when it comes to B2B payments that’s even more unsexy, if that were possible. But everyone wants to get paid, right? Certainly, in my experience more and more are thinking ‘how can we make this less painful’ anyway.”

In fact, more and more travel companies are beginning to have those difficult conversations and progress is being made. “Particularly on the leisure side of the industry, there’s many forward-thinking companies embracing the new breed of fintech services that can resolve B2B payment problems and save money for travel businesses,” adds Spencer Hanlon, whilst pointing out that “not as many companies in the corporate travel space seem yet prepared to make that shift.”

Perhaps unsurprisingly, a starting point for many companies comes when they try to improve how they get paid. Will Plumer from Trust My Group – who specialise in travel payments and financial protection – reflects that “this is often an easy way to get the conversation going, most people can relate to how getting paid more quickly and with less costs involved is great for their business.” But this focus on getting paid can be a slightly imbalanced obsession for many and he adds that from there, it is important to switch the conversation to  paying others, where the benefits are similar.

Whilst moderating the discussion, Pascal Burg from Edgar, Dunn & Company – strategy consultants experts in payments and fintech – raised the point that the international, cross-border nature of the travel industry places extra strains on payments processes when compared with industries that tend to be more locally focused, as payments processes are subject to more complexity such as varying rules and regulations in different countries. Overall, the panel agreed this adds challenges, but felt that nonetheless sufficient technology exists to surmount this challenge and too often companies had grown complacent with outdated, slow, and expensive legacy technology that they are reluctant to consider changing.

Meanwhile, a strong theme emerged from the discussion that slowly-but-surely travel businesses are starting to realise that getting payments right is not just about saving time and money, important as they are. “For too long, the view was that payments are simply a cost of doing business, something you had to put up with, a bit like the weather or something,” observed Roberto Da Re. “But now, we’re seeing more innovative companies realise that, especially for suppliers, B2B payments can make a real difference to their bottom line when done right.”

Will Plummer agrees, adding that “it is a mistake to view data and payments as two separate areas when in reality, there is a huge overlap and all that data sat there can be not only a means of introducing efficiencies if mined correctly, but additionally it can be a whole new revenue stream in itself. Who wouldn’t want that?”

Aside from a wide reluctance to address the topic internally, what are the biggest obstacles to change? Overall, the panel agreed that the biggest drag on payments systems in travel are antiquated legacy payment systems, often dependent on old-fashioned bank transfers. However, unlike many other tech challenges companies face where legacy systems are the building blocks of their technology and therefore hard to change, Nium’s Spencer Hanlon feels that this is not the case with payments mostly: “There’s some fantastic solutions out there that can be implemented quickly and with limited development costs, if any – virtual credit cards being the most obvious and easy to introduce answer for many companies with B2B payment needs. Grasp that nettle, you´ll be compensated for any pain right away.”

 

 

 

 

 

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“Buy Now Pay Later” is a game changer for travel e-commerce, says Digitrips https://dev.traveldailymedia.com/buy-now-pay-later-is-a-game-changer-for-travel-e-commerce-says-digitrips/ Fri, 09 Jun 2023 02:30:50 +0000 https://www.traveldailymedia.com/?p=821170 The post “Buy Now Pay Later” is a game changer for travel e-commerce, says Digitrips appeared first on TD (Travel Daily Media) Brand TD.

Leading multi-product travel platform Digitrips says Buy Now Pay Later (BNPL) services have become a game changer for travel e-commerce, with such purchases accounting for up to 75% of sales for the company’s B2B2C customers.

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Leading multi-product travel platform Digitrips says Buy Now Pay Later (BNPL) services have become a game changer for travel e-commerce, with such purchases accounting for up to 75% of sales for the company’s B2B2C customers. Digitrips currently operates 65 white-label storefronts for e-commerce players across Europe, most of which offer BNPL – a type of short-term financing that allows consumers to make purchases and pay for them over time with little or no interest.

According to the platform, the financial service now represents anywhere between 35% to 75% of sales for their B2B2C customers, depending on the site’s customer typology.Emilie Dumont, CEO of DIGITRIPS, said: “It’s evident that Buy Now Pay Later purchases play a critical role in empowering our white labels partners sites to make travel more accessible. In fact, some report that the majority of their travellers choose to defer their payment or spread the costs over a series of instalments.

“As the numbers suggest, offering payment flexibility to passengers not only facilitates the pent-up demand for travel but also emphasises the need for personalised offers that cater to customers’ payment preferences.”

The 2022 version of the FLOA – Kantar European barometer highlights the growing importance of payment facilities in the consumption habits of Europeans. The focus on travel in this study revealed that travel is a strategic category for BNPL providers, with 35% of users leveraging the financial service to book travel arrangements. In France, Digitrips’ main market, the proportion of BNPL users benefitting from deferred or staggered travel payments is as high as 44%.

Meanwhile, just under half (49%) of the respondents of the FLOA-Kantar European barometer stated they would not have been able to make some of these purchases without the flexibility offered by BNPL, further highlighting the growing importance of the financial service in driving demand across the travel sector.

Marc Lanvin, Deputy CEO of FLOA, said: “As it develops in France and Europe, and despite disparities in usage from one country to another, this study reveals increasingly strong expectations in terms of payment facilities. In the travel sector, FLOA’s solutions are even more in demand due to rising inflation, but also because the customer can make a travel reservation at the most convenient time to take advantage of early bookings, promotions, etc.”

 

 

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PayU, Visa and YES BANK launch Business Payment Solution Provider program for businesses https://dev.traveldailymedia.com/payu-visa-and-yes-bank-launch-business-payment-solution-provider-program-for-businesses/ Mon, 05 Jun 2023 00:45:30 +0000 https://www.traveldailymedia.com/?p=817894 The post PayU, Visa and YES BANK launch Business Payment Solution Provider program for businesses appeared first on TD (Travel Daily Media) Brand TD.

PayU, India's online payments solution provider has launched Business Payment Solution Provider (BPSP) for Visa Commercial Card customers in collaboration with Visa & YES BANK as the acquiring bank.

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PayU, India’s online payments solution provider has launched Business Payment Solution Provider (BPSP) for Visa Commercial Card customers in collaboration with Visa & YES BANK as the acquiring bank.

BPSP offers several benefits including flexible commercial offerings, which reduce costs for merchants. It also helps them improve their cash flow by utilizing credit lines provided by their commercial card issuer bank. This solution allows businesses to pay their vendors digitally, by supporting them to accept commercial card payments. BPSP offers efficient & secure payment methods, automates supplier and buyer reconciliation and creates a beneficial value proposition for each stakeholder of the payment ecosystem. BPSP supports the digitization of small and medium businesses in particular, enabling them to accept digital payments easily and facilitates easy credit access.

While the BPSP solution is applicable for all eligible merchant transactions, it is especially helpful for Corporate Travel Agents. As a pilot, one of the largest airline services will use this program and will gain favorable flexible commercials while facilitating corporate bookings for corporate clients through its CTA program. This is a novel CTA program offering flexible commercial by a payment aggregator as a BPSP entity. PayU has also launched the Vendor payments platform, a solution within BPSP that helps merchants digitize payments to vendors (e.g., automated reconciliation, monitoring etc.) lowering the cost of invoice processing, which improves efficiency and enables them to handle payments outside of banking hours.  Moreover, it helps control fraud and leakages, driving significant business value and growth.

Commenting on the announcement, Mohit Gopal, Chief Operating Officer, PayU payments said, “PayU is strengthening its existing relationship with its strategic partners Visa & YES BANK to launch this novel BPSP program. BPSP bridges the gap between card-enabled businesses and non-card accepting suppliers. We are excited to embrace this program as it is in sync with our vision to support technology advancements that drive financial inclusion among businesses in the country. BPSP will digitize the entire value chain for businesses, especially small SMBs, who often lack resources to digitize payments or access credit without considerable expenditure and effort. We are committed to introducing and supporting payment solutions that enable ease of digital payments in the country and help us bring more and more merchants online.”

Ramakrishnan Gopalan, Head – Products, India and South Asia, Visasaid, “Numerous sectors rely on a long tail of small suppliers and businesses who are either not digitized or have limited acceptance of digital payments. We are delighted to launch the BPSP solution from Visa in collaboration with PayU & YES BANK for merchants across sectors like airlines and travel, insurance and FMCG. This solution enables non-card accepting suppliers to accept card payments, giving them a host of advantages and access to formal credit, while the payer merchant gets the myriad benefits of using Visa commercial cards. We believe this can bring a host of small businesses into digital payments and aid the growth of the business landscape.”

Ajay Rajan, Country Head, Transaction Banking and Digital Transformation, YES BANK said, “YES BANK’s market leadership in the digital payments space is attributed to its ability to provide customized and integrated payment solutions to its customers. In line with this approach, we are delighted to co-create alongside our strategic partners PayU and Visa, a novel Business Payments Solution Provider (BPSP) initiative for small and medium enterprises. This proposition will help SMEs facilitate their vendor payments, while additionally boosting their cash-flow with added benefits of secured credit lines having differentiated MDR pricing, up to 50 days interest free credit period amongst other benefits. We believe this solution with embedded financial inclusion features will significantly contribute towards the country’s vision of creating a digitally empowered economy for its SMEs.”

 

 

 

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Pre-paid card trap: UK travellers have over half a billion pounds in leftover holiday money sitting on pre-paid cards https://dev.traveldailymedia.com/pre-paid-card-trap-uk-travellers-have-over-half-a-billion-pounds-in-leftover-holiday-money-sitting-on-pre-paid-cards/ Thu, 01 Jun 2023 01:00:34 +0000 https://www.traveldailymedia.com/?p=816066 The post Pre-paid card trap: UK travellers have over half a billion pounds in leftover holiday money sitting on pre-paid cards appeared first on TD (Travel Daily Media) Brand TD.

UK travellers are returning from overseas holidays with a total of £582m sitting on pre-paid travel cards as holidaymakers continue to default to these cards over more cost-effective alternatives, according to research from money-saving travel debit card Currensea.

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UK travellers are returning from overseas holidays with a total of £582m sitting on pre-paid travel cards as holidaymakers continue to default to these cards over more cost-effective alternatives, according to research from money-saving travel debit card Currensea.

This marks a 33% jump on the £438m that was sitting on pre-paid cards last year.

A pre-paid travel card requires users to top up with their chosen currency before they travel but often has poorer foreign exchange rates than other card options. The research reveals that 14% of UK travellers use pre-paid cards for their holiday spending money – almost 7.5m people across the UK, but less than one in ten (9%) spend all the money they topped up.

On average, travellers are returning from holiday with £78 left on these cards – funds which are at risk of being forgotten about if travellers don’t immediately exchange back to sterling and withdraw. This is a significant increase on last year’s figure – when the average amount sitting on cards after foreign travel was £55.20.

Unfortunately, withdrawals often result in fees or poor foreign exchange (FX) rates, meaning travellers are financially hit once again. For example, the Post Office Travel Money Card charges users £2 per month if the card hasn’t been used for 12 months.

James Lynn, Co-Founder of Currensea, comments: “There is a staggering amount being wasted every year from UK travellers persisting with expensive and inconvenient pre-paid cards. With costs rising, many households are focused on securing value for money but over half a billion is just sitting unused on pre-paid cards in drawers across the country.

“How many of us know exactly how much we’re going to be spending on our holiday? It’s not easy to work out in advance and using a pre-paid card means you have to take a punt on how much you might spend – but it’s almost impossible to get this balance right. Underestimate and you are forced to turn to expensive ATMs or get hit by extortionate bank charges; overestimate your spending and you’re likely to return with money leftover and then face more charges to exchange this back to sterling or see the balance dwindle with monthly maintenance or storage fees even when you’re not using it.

“Travellers need to be savvier with their holiday spending and avoid risking huge amounts in foreign exchange fees – this means ensuring that they’re using low-cost options and making every penny of their holiday savings count. But there also needs to be much improved transparency from providers to remove hidden costs and ensure travellers can accurately evaluate the true cost of their holiday spending.”

Improved understanding of exchange fees is needed to offer UK holidaymakers improved value
Despite the cost-of-living pressures millions of households are facing, there remains a lack of understanding of foreign exchange fees and the impact this can have on holiday budgets. A third (30%) mistakenly believe that these pre-paid cards offer better foreign exchange rates on overseas transactions but this often isn’t the case. This misunderstanding is worst among younger travellers with almost four in ten (37%) 18-34 year olds believing pre-paid cards offer better rates.

The Post Office’s pre-paid Travel Money Card typically offers less competitive rates than other providers as well as several additional costs including a 3% cross border fee for currencies outside the basic 23 offered on the card and 1.5% fee for travellers topping up their card in GBP.

Currensea is a travel debit card which uses open banking technology to link directly to existing bank accounts allowing people to spend directly from their current account when abroad. Its users benefit from access to the best foreign exchange rates at only 0% to 0.5% above the foreign exchange base rate. Currensea saves at least 85% on every overseas transaction by cutting out the normal fees. For example, a user spending $1500 while visiting the USA would save £40 compared to using a card from a high-street bank and £50 compared to the Post Office’s Travel Money Card.

 

 

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Over a quarter of Aussies wasting money on credit card fees for overseas payments   https://dev.traveldailymedia.com/over-a-quarter-of-aussies-wasting-money-on-credit-card-fees-for-overseas-payments/ Thu, 25 May 2023 00:15:18 +0000 https://www.traveldailymedia.com/?p=811815 The post Over a quarter of Aussies wasting money on credit card fees for overseas payments   appeared first on TD (Travel Daily Media) Brand TD.

With unnecessary and expensive international transfer fees attached to overseas credit card purchases and payments, it’s a concern that some Aussies are choosing this method of payment when there are more affordable money transfer alternatives available.  

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With unnecessary and expensive international transfer fees attached to overseas credit card purchases and payments, it’s a concern that some Aussies are choosing this method of payment when there are more affordable money transfer alternatives available.  

A new survey by Money Transfer Comparison reveals how over a quarter (27 per cent) of Aussies automatically pay by credit card when making payments overseas, despite knowing there may be higher fees attached.

The findings were derived from a survey of an independent panel of 1002 Australians, commissioned by global comparison service moneytransfercomparison.com which helps Australians source the best rate in international money transfers. The survey also asked respondents whether they would continue to pay by credit card, if they knew a secure transfer platform offered lower fees for overseas purchases and transfers. A whopping 88 per cent would pick the bank transfer to save money, but this means 12 per cent of Aussies are happy to use their credit card, despite the amount of fees they may incur.

Across the States, WA are most likely to neglect opting for the most cost-effective method. By State, 34 per cent of West Australians are automatically paying by credit card for overseas payments, followed by 31 per cent of respondents from Victoria, and 29 per cent of South Australians. Queenslanders are more likely to pay by the most cost-effective method with only 23 per cent of respondents choosing to pay by credit card.

With the knowledge of a money transfer platform, with cheaper fees than a credit card, respondents from NSW are quick to cash in on the money-saving measure, with 91 per cent answering so. Again, West Australians are less likely to choose a money transfer site, even with the knowledge of cheaper fees, with a response rate of 84 per cent, indicating more respondents from this State are happy to continue racking up fees on their credit card.

Younger Aussies are surprisingly neglecting their research . Although the younger generation are known to be more tech-efficient, the survey found older Australians aged over 55 are more likely to do the groundwork to find cost-effective methods for making international transfers and purchases, at 77 per cent. This is compared to 74 per cent of 35–50-year-olds and 69 per cent of 18–34-year-olds.

However, if 18-34s knew about a secure bank transfer platform was available, with lower fees than a credit card, a greater number of young Australians would choose this option, at 91 per cent. This compares with 88 per cent of 35–54-year-olds and 85 per cent of Aussies aged over 55.

Alon Rajic, Founder and Managing Director at Money Transfer Comparison warns Aussies that neglecting to do your research could be costly: “Aussies are wasting countless dollars on unnecessary fees which can easily be avoided by doing some desktop research that will take under two minutes. The cost of using a credit card abroad consists of three different fees that make credit cards, in some instances, cost more than 10% of the transaction’s total value1. These large mark-ups can be easily avoided by using transfer comparison sites such as moneytransfercomparison.com, which always gives consumers the best possible price on overseas transfers.”

 

 

 

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Travelex launches new stores and partnerships across Europe, Asia-Pacific, Middle East and Brazil https://dev.traveldailymedia.com/travelex-launches-new-stores-and-partnerships-across-europe-asia-pacific-middle-east-and-brazil/ Wed, 24 May 2023 00:30:35 +0000 https://www.traveldailymedia.com/?p=811436 The post Travelex launches new stores and partnerships across Europe, Asia-Pacific, Middle East and Brazil appeared first on TD (Travel Daily Media) Brand TD.

Travelex, a foreign exchange brand, has launched more than 20 new bureaux and partnerships across Europe, Asia-Pacific, the Middle East and Brazil as international aviation continue to rebound post-pandemic.

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Travelex, a foreign exchange brand, has launched more than 20 new bureaux and partnerships across Europe, Asia-Pacific, the Middle East and Brazil as international aviation continue to rebound post-pandemic.

In Europe, two new bureaux have opened at Frankfurt Airport (both landside) and two at Schiphol Airport (one landside and one airside), with all four new bureaux also offering FX ATM services. The new stores mean Travelex now operates nine sites at Schiphol Airport and 15 at Frankfurt Airport in total.

In the UK, Travelex’s ATM click & collect service has been expanded following a successful pilot at Heathrow Terminal 5: 54 click & collect ATMs across all four operational Heathrow terminals are now live, plus a further 24 at Manchester Airport and seven at Birmingham Airport, allowing customers to pre-order their cash for collection via the ATM before they fly.

In Brazil, Travelex has opened seven new bureaux, including four in São Paulo, one in Rio de Janeiro, one in Minas Gerais and one in Santa Catarina. Travelex has also announced a partnership with CCR Aeroportos, one of Brazil’s largest airport operators, and has plans to open stores at three more airports (Navegantes, in Santa Catarina, Goiânia and Curitiba), taking the total number stores across Brazil to more than 120.

Travelex has opened eight new stores in the APAC region in 2023, including a new retail store at Penang International Airport. The bureau, which is Travelex’s very first retail store in the North of Malaysia (Penang), brings the total number of stores in Malaysia to eight, with two further stores – including an on-the-move kiosk – set to be launched in the coming months.

In China, Travelex has opened two new stores at Chongqing Airport (one at arrivals and one at departures), whilst at Sendai Airport in Japan Travelex has opened a new landside store, its 73rd location in the country. At Hong Kong International Airport, Travelex has also extended its contract to operate its eight bureaux across arrivals, departures and transit areas (both airside and landside) by a further three years.

In Australia, Travelex has opened new bureaux in Brisbane, located at the historic Anzac Square Arcade in the heart of Brisbane’s CBD, and in Mandurah, Western Australia. In New Zealand Travelex has also opened new stores in Albany and Nelson. Furthermore, Travelex has signed a partnership with Bank of New Zealand (BNZ) which has seen BNZ refer all its travel money services to Travelex.

In the Middle East, Travelex has launched a new bureau at Dubai International Airport. The new store, located at airside departures, is focused on serving FX and Vat Refund customers, and means Travelex now has 31 stores at DXB and 52 in the UAE in total, as well as 26 ATMs.

Travelex has also launched a new On The Move kiosk at Muscat Airport, serving customers using either of the airport’s two premium lounges, as well as guests at the airport hotel. This new mobile store is one of two new expansions at the airport, with a pre-immigration store planned to open later this year.

The new bureaux openings come as the latest IATA passenger figures show that international aviation passenger traffic worldwide is now at 81.6% of March 2019 levels. Richard Wazacz, Travelex CEO, said: “We’re delighted to have hit the ground running in 2023, including the launch of more than 20 new stores across four continents.

“With international travel returning more quickly than anticipated, we are fully focussed on simplifying our customers’ access to international money however and whenever. These new stores and partnerships, plus the expansion of ATM click-and-collect across the UK, will play an important role on that journey.”

 

 

 

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BillEase, now available on Agoda https://dev.traveldailymedia.com/billease-now-available-on-agoda/ Tue, 16 May 2023 06:27:26 +0000 https://www.traveldailymedia.com/?p=802855 The post BillEase, now available on Agoda appeared first on TD (Travel Daily Media) Brand TD.

Enabled by Alipay+, the integration comes amidst travel recovery in the Philippines Philippine-based consumer finance app, BillEase, is now available as a payment option on Agoda

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Enabled by Alipay+, the integration comes amidst travel recovery in the Philippines Philippine-based consumer finance app, BillEase, is now available as a payment option on Agoda, a global digital travel platform, giving Filipino travelers more flexibility to pay in installments even without a credit card. This integration is enabled by Alipay+, a global cross-border digital payments and marketing solution operated by Ant Group.

The partnership comes amidst international and domestic travel recovery in the Philippines. BillEase recorded more than 26 times increase in buy now, pay later (BNPL) transactions in the travel category, in the first quarter of 2023, compared to the first quarter of 2022. The Manila International Airport Authority (MIAA) also reported a 158 percent increase in number of passengers in the first quarter of 2023 compared to the same period in 2022, while domestic travel is expected to reach pre-pandemic levels in the second half of 2023.

Launched in 2017, BillEase is an on-demand consumer credit app that provides personal loans, e-wallet top-ups, prepaid load, bills payment, gaming credits as well as a customizable BNPL which allows customers to avail of cardless installment plans.

Filipino travelers booking their next accommodation, flight, or local activities on Agoda can pay via BillEase’s Pay Later or installment options. By selecting BillEase as a checkout option on both Agoda’s web and app platforms, travelers can split the total cost of purchases into either bi-weekly or monthly payments for as low as 0% interest, or with the market’s lowest interest rate for up to 12 months of installments.

Georg Steiger, Chief Executive Officer and Co-Founder of BillEase, said: “In a post-pandemic world where travel has been significantly impacted, our partnership with Agoda represents a significant shift in how Filipinos around the world can manage their travel expenses. It empowers consumers to get back into the world of travel on their own terms, providing them with more financial flexibility and control. This way, they can begin to explore, reconnect, and create new memories without being burdened by the financial pressure of paying for their booking all at once.”

Peng Yang, Vice President and Head of Alipay+, Ant Group, said: “We are proud to further our cooperation with BillEase as our first BNPL partner in the Philippines, to offer Filipinos more payment flexibility at a global online travel platform like Agoda. Catering to consumers’ diverse preferences for payments is now imperative for merchants. This is especially so in the Philippines and wider Southeast Asia, where consumers have become much more accustomed to digital lifestyles, with a growing preference for digital payments like e-wallets and BNPL. We look forward to working with more partners to reach these consumers and better serve their needs.”

Earlier this year, BillEase and Alipay+ announced their partnership to enable local customers in the Philippines to complete online purchases at global merchants and pay in light, card-free installments. Usage of BNPL is increasing in the Philippines and is further expected to grow at a CAGR of 36.9% from 2022-2028.

 

 

 

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Astra Tech launches Botim 3.0 Ultra App https://dev.traveldailymedia.com/astra-tech-launches-botim-3-0-ultra-app/ Tue, 09 May 2023 07:35:42 +0000 https://www.traveldailymedia.com/?p=793005 The post Astra Tech launches Botim 3.0 Ultra App appeared first on TD (Travel Daily Media) Brand TD.

Astra Tech, the leading consumer technology holding group in the MENA region, held its much-anticipated Botim 3.0 Ultra App launch event on May 2nd at the prestigious Museum of the Future in Dubai.

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Astra Tech, the leading consumer technology holding group in the MENA region, held its much-anticipated Botim 3.0 Ultra App launch event on May 2nd at the prestigious Museum of the Future in Dubai. The event brought together industry leaders, innovators, technology enthusiasts, and experts from across the world to witness the unveiling of the world’s first Ultra app.

The groundbreaking event highlighted a product demo, where attendees got an exclusive look at the new Botim 3.0 Ultra App in action and the demo showcased the app’s enhanced features, such as its latest GPT feature and international transfers and video services, among other impressive services. During his keynote speech, Abdallah Abu Sheikh, Astra Tech’s Founder and Botim’s CEO, took the audience through the enhanced key features that the new platform would house. He continued to share what Astra Tech strives every day to accomplish for its customers and highlighted Botim’s commitment to providing users with a seamless and user-friendly experience that the launch of the Ultra app will be able to create.

The keynote was followed by fireside chats and panel discussions on hot topics in the fintech space such as the future of global payments, cybersecurity, ‘super vs ultra’, and more. Abdallah sat with Mike Butcher, Editor at large of TechCrunch, and chatted ‘Why Ultra’ and the vision of evolving a communications app into a single use platform for users across the region and globally. This was followed by a panel discussing the Ultra app as a game changer by simplifying global payments and on the future of financial technology, featuring a lineup of prominent industry experts which included Nadia Ghissassi, VP of Mastercard; Ahmed Aly, Head of Middle East at MoneyGram International; Harish Parameswaran, VP of Micro Lending at Astra; and Kartik Taneja, Chairman of the Board of Neopay. The panelists shared their insights on the latest trends in the global payment space, as well as their predictions for the future.

During the panel on “Super vs Ultra,” Mo Gawdat, Author, Podcast Host, and Founder of One Billion Happy, highlighted the significance of an Arabic GPT being introduced to labor camp workers, Arabic speakers, and the culture of the region. He said, “This two-way impact is very significant. By introducing GPT to the region, we are bringing it up to date with the pace of technology, and more importantly, we are helping GPT to understand the region, so that it can be more inclusive. This is a very, very important milestone.” Joining Gawdat on the panel were Tiago, Director of Digital & eCommerce at Etihad Airways, Amine Sabri, Group Chief Financial Officer of Astra Tech, and Shayan Rahimi, Managing Director at Bidease, moderated by Mike Butcher. The panelists discussed the challenges and opportunities in the super app market and the future of commerce with chat.

Ramia Farrage, Senior Producer and Presenter at Forbes Middle East, sat down with Hasan Al Noon, Chief Technology Officer at AstraTech to discuss the pressing topic of Cybersecurity in Ultra apps. Through an interactive discussion, the audience was asked whether they believe cybersecurity is stronger in the west or in the Middle East, with an overwhelming majority believing it is stronger in this region. The conversation highlighted the region’s importance and efforts to preserve it.

An invitation was extended to students to participate in an exclusive hackathon at the event, with the aim of developing and presenting their ideas on how BOTIM features could be utilized for CSR initiatives. Astra Tech tasked these students with developing a telemedicine feature to seamlessly integrate with BOTIM and enable users to access medical consultations and advice from anywhere in the world where the winner walked away with 10,000 AED.

Abdallah Abu Sheikh, Co-Founder and CEO of Astra Tech, Botim’s parent company , said: “We are beyond thrilled to have unveiled the world’s first Ultra app.  This is the beginning of a new era in communication technology and the future of conversational commerce. Our vision for the Ultra app is to provide a seamless, user-friendly experience that simplifies global communication and enhances the way people connect with each other. With the latest GPT feature, international transfers, and video services, among other features we are continually working to add such as international telemedicine, we are confident that the Ultra app will transform the way people communicate and bring us closer together than ever before.”

The Botim 3.0 Ultra App launch event marks a significant milestone for Astra Tech and the fintech industry as a whole. The event was a testament to the company’s commitment to innovation and customer-centricity. With the unveiling of the Ultra app, Astra Tech has once again demonstrated its ability to stay ahead of the curve and deliver cutting-edge solutions to users in the region at the forefront. The event served as a platform for exchanging ideas and insights on the latest trends in the fintech space and showcased Astra Tech’s thought leadership in the industry. As the world becomes increasingly connected and reliant on technology, the launch of the Ultra app comes at a time when the need for secure and seamless communication and payment solutions is greater than ever. Astra Tech’s Botim 3.0 Ultra App is set to revolutionize how people communicate and transact, and the world can’t wait to see what’s next.

Botim 3.0 Ultra App is now available for download on the App Store and Google Play Store.

 

 

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Arta partners with EDG UK as exclusive distributor of digital asset structured products in Hong Kong https://dev.traveldailymedia.com/arta-partners-with-edg-uk-as-exclusive-distributor-of-digital-asset-structured-products-in-hong-kong/ Thu, 27 Apr 2023 08:10:56 +0000 https://www.traveldailymedia.com/?p=789573 The post Arta partners with EDG UK as exclusive distributor of digital asset structured products in Hong Kong appeared first on TD (Travel Daily Media) Brand TD.

Arta TechFin ("ARTA", HKSE: 0279), a hybrid fintech platform bridging traditional financial assets and digital assets ("DA"), partners with Enhanced Digital Group UK Limited ("EDG UK") ("ARTA", HKSE: 0279), a hybrid fintech platform bridging traditional financial assets and digital assets ("DA"), partners with Enhanced Digital Group UK Limited ("EDG UK")

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Arta TechFin (“ARTA”, HKSE: 0279), a hybrid fintech platform bridging traditional financial assets and digital assets (“DA”), partners with Enhanced Digital Group UK Limited (“EDG UK”), a leading provider of digital asset (DA) structured derivative solutions to distribute digital asset structured products in Hong Kong exclusively.

This partnership with EDG UK enables ARTA clients to access digital markets in traditional USD structured note formats. ARTA will be able to offer clients a variety of return scenarios, including asymmetric strategies and capital protected structures. In addition to the EDG UK partnership, having partnership networks in New York, Singapore and Zurich, ARTA offers a one-stop global solution in over-the-counter structured products and exchange-traded derivative products listed in Chicago and Hong Kong.

“We are thrilled to partner with EDG UK to develop a global digital asset financial ecosystem. EDG UK and other partners bring in global liquidity and cutting edge product choices to meet our client demands for tailor-made digital asset solutions in traditional USD formats.” said Eddie Lau, Chief Executive Officer of Arta TechFin.

Meanwhile ARTA is looking to set up ASEAN headquarter in Singapore to strengthen its distribution channel and client coverage, and obtain Capital Market Services (CMS) licenses in Singapore. ARTA considers that its physical presence and local licensed partners will further strengthen ARTA’s existing regional coverage in security tokenization and digital asset investments.

In mid-February, ARTA announced a strategic partnership with OSL, the digital asset business division of BC Technology Group (HKSE: 0863), to create an end-to-end virtual asset financial service ecosystem, including origination of asset-backed security tokens, secondary trading of physically-settled and cash-settled DA spot and derivatives, and custody of OTC and exchange-traded DA.

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Mastercard and DIFC partner with FinTech companies https://dev.traveldailymedia.com/mastercard-and-difc-partner-with-fintech-companies/ Mon, 24 Apr 2023 00:30:51 +0000 https://www.traveldailymedia.com/?p=788446 The post Mastercard and DIFC partner with FinTech companies appeared first on TD (Travel Daily Media) Brand TD.

Dubai International Financial Centre (DIFC), the global financial centre in the Middle East, Africa and South Asia (MEASA) region, has signed a strategic collaboration agreement with Mastercard that aims to drive digital transformation through partnerships with innovative FinTech companies.

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Dubai International Financial Centre (DIFC), the global financial centre in the Middle East, Africa and South Asia (MEASA) region, has signed a strategic collaboration agreement with Mastercard that aims to drive digital transformation through partnerships with innovative FinTech companies.

The partnership between DIFC and Mastercard will provide FinTech start-ups and established companies with access to Mastercard’s network and expertise, as well as DIFC’s world-class financial ecosystem. The collaboration will focus on creating new payment solutions and digital services, as well as enhancing existing ones.

“At Mastercard, we are committed to driving innovation through collaboration between different players in the financial ecosystem. The collaboration between FinTech companies and established players would enable us to drive digital transformation. We are delighted to participate in DIFC’s programmes to accelerate innovation in the financial technology sector with the aim of boosting the country’s digital economy,” said Amnah Ajmal, Executive Vice President, Market Development, EEMEA, Mastercard.

Mastercard’s collaboration with DIFC underpins the objective of the financial hub’s first global Venture Studio – DIFC Launchpad – which seeks to fast-track the growth of the UAE’s financial ecosystem and serve as a business enabler for venture studios, allowing them to set up and scale from DIFC. Venture studios build start-ups, taking them from the concept stage to launch while providing capital and guidance through the incubation period. They also help start-ups to grow using internal capabilities and external networks.

The DIFC Launchpad programme expects to support the launch of more than 200 new ventures, with over 100 of them being scale-ups that will collectively create over 8,000 new jobs and attract over $544 million in venture capital.

Mohammad Alblooshi, Head of Innovation Hub at DIFC, said: “At DIFC, we are committed to fostering innovation and growth in the FinTech sector, and our strategic collaboration with Mastercard is a testament to that. By leveraging Mastercard’s expertise and network, we can empower FinTech start-ups and established companies to create new payment solutions and digital services that enhance the region’s financial ecosystem. Together, we aim to fast-track the growth of the UAE’s financial sector and serve as a business enabler for venture studios, bringing about significant benefits to the FinTech sector in the Middle East.”

The collaboration between DIFC and Mastercard is expected to bring about significant benefits to the fintech sector in the Middle East, providing them with the tools and resources needed to drive innovation and growth in the region’s digital economy.

 

 

 

 

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Accor partners with CBA and BNZ to  offer benefits to members of ALL  https://dev.traveldailymedia.com/accor-partners-with-cba-and-bnz-to-offer-benefits-to-members-of-all/ Tue, 18 Apr 2023 00:45:51 +0000 https://www.traveldailymedia.com/?p=786798 The post Accor partners with CBA and BNZ to  offer benefits to members of ALL  appeared first on TD (Travel Daily Media) Brand TD.

Accor partners with  Commonwealth Bank of Australia and Bank of New Zealand to provide even greater  benefits, privileges and experiences to members of ALL – Accor Live Limitless, the  free lifestyle loyalty programme of Accor.

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Accor partners with  Commonwealth Bank of Australia and Bank of New Zealand to provide even greater  benefits, privileges and experiences to members of ALL – Accor Live Limitless, the  free lifestyle loyalty programme of Accor.  Members of ALL can now transfer their CommBank Awards and BNZ Rewards points into  ALL Reward points to redeem for their next holiday or to unlock tickets to some of the  most popular concerts, shows and sporting events.

The program is powered by Ascenda, who enable premium rewards infrastructure for  financial services brands across the globe. Accor Pacific Chief Executive Officer, Sarah Derry, said: “This offer creates greater  fluidity between bank currencies and ALL Reward points, providing unmatched benefits  to members of ALL. This new benefit means that members of ALL, who are also  CommBank or Bank for New Zealand customers, can boost their Reward points to allow  them to redeem hotel stays and other incredible experiences.”

A Commonwealth Bank of Australia spokesperson said: “We are very pleased to find a  partner who shares our passion for delivering everyday rewards and recognition. As the  largest credit card rewards program of any bank in Australia, CommBank Awards offers  choice and flexibility – with no expiry on points. Earning Awards points with daily credit  card purchases is easy, and we’re delighted that our customers can now transfer  CommBank Awards points into ALL Reward points to book their next holiday.”

BNZ Executive, Customer Products and Services, Karna Luke, said: “We’ve been talking  to our customers about the rewards they want, and they’ve shared that they’re very keen for more ways to spend their rewards, including more travel options. We’ve heard  their feedback loud and clear, and we’re delighted to partner with Accor to give our  customers new ways to fulfil their travel goals.”

Members can transfer CommBank Awards points at a rate of 5:1 (5 CommBank Awards  points = 1 ALL Reward Points and Bank of New Zealand offers a 7:1 rate (700 BNZ Points  = 100 ALL Reward Points).

Special Offer: From now until 30 April 2023, members of ALL will receive 50% bonus  Reward points when they transfer their CommBank Awards points. That’s 1,500 Reward  points for every 5,000 CommBank Awards points transferred, instead of the usual 1,000  Reward points.

ALL – Accor Live Limitless is the free lifestyle loyalty programme of Accor that goes  beyond hotels and offers. It delivers members truly spectacular experiences, privileges  and rewards. Points can be earned on accommodation as well as at thousands of  restaurants and bars throughout the Accor network, which can be used to redeem hotel  stays and other experiences.

Accor was the first hotel operator in the Pacific to reward their customer’s loyalty with  exceptional partner benefits, which include the ability to boost Qantas Frequent Flyer  points and the opportunity to attend world-class sporting and entertainment experiences  at Accor Stadium and Qudos Bank Area in Sydney.

 

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44% Aussies don’t check fees or rates when exchanging currency or transferring money overseas  https://dev.traveldailymedia.com/44-aussies-dont-check-fees-or-rates-when-exchanging-currency-or-transferring-money-overseas/ Wed, 12 Apr 2023 02:42:54 +0000 https://www.traveldailymedia.com/?p=785742 The post 44% Aussies don’t check fees or rates when exchanging currency or transferring money overseas  appeared first on TD (Travel Daily Media) Brand TD.

Plenty of Aussies choose to make international money transfers or buy foreign currency - whether sending money to family overseas, making overseas purchases, or exchanging currency for a holiday.

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Plenty of Aussies choose to make international money transfers or buy foreign currency – whether sending money to family overseas, making overseas purchases, or exchanging currency for a holiday. For example, by considering the amount of Aussies travelling internationally each year (in 2019, almost 10 million travelled abroad)], it’s easy to gauge how many currency exchanges are being made, too. Now new research reveals the alarmingly high proportion that fail to check fees or exchange rates before making an overseas transaction.

A recent survey found that almost half (44 per cent) of Australians neglect to make sure they have found the best deal, at least sometimes. Specifically, one in four (26 per cent) of survey respondents only occasionally research for the best deal before making a transaction, but a further 18 per cent have never checked to make sure they have found the best deal.

The findings were derived from a survey of an independent panel of 1002 Australians, commissioned by global comparison service moneytransfercomparison.com, which helps Australians source the best rate in international money transfers

Within these two groups of respondents that never or only occasionally check fees and rates before exchanging currency or making a money transfer, two thirds (68 per cent) said they didn’t think they could save money through other service providers, and 27 per cent said they didn’t have the time to do their research.

With almost a third (30 per cent) of Australia’s population born overseas, there’s ample reason for residents to send money abroad. In 2021, Australians sent US$3.8 billion in remittance, and since some services can charge fees of up to $30, Aussies may be paying more than what they bargained for.

The older the age group, the more likely they are to neglect checking rates

Older Australians are more likely to neglect do their research to ensure they are getting the best deal on an international transfer or foreign currency purchase: 46 per cent of over-55s never or occasionally check fees and rates with other service providers. This compares with 45 per cent of those aged 35-54 and 41 per cent of respondents aged 18-34 who did the same. The reason behind these findings appears to be the assumption that savings can’t be made through other providers, with over three-quarters (78 per cent) of over-55s selecting this option. This was followed by 64 per cent of 35-54s and 58 per cent of 18-34s.

Lack of time a barrier for securing the best deals on transfers and currency exchange  

One third (36 per cent) of 18-34s lack the time to check other providers for the best deal, followed by 31 per cent of 35-54s and only 16 per cent of over-55s. Across the States, Queenslander are most likely to be too time poor to check other providers for the best deal: 31 per cent of Queenslanders chose this option, followed by 30 per cent of NSW respondents, 25 per cent of Victorians, 19 per cent of South Australians, 16 per cent of West Australians and 13 per cent of ACT respondents.

Alon Rajic, Founder and Managing Director at Money Transfer Comparison warns Aussies that neglecting to do your research could be costly: “This is a significant number of Australians that are naively accepting the first rate they come across, and potentially spending more money than they need to, with some transfer services offering a foreign exchange rate markup of up to 4.81 per cent. It doesn’t take longer than two minutes to compare transfer providers through a comparison site such as moneytransfercomparison.com, and those two minutes could prove hugely valuable, especially for large-sum, or frequent, transfers.”

 

 

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GO FIRST partners with BookMyForex  https://dev.traveldailymedia.com/go-first-partners-with-bookmyforex/ Mon, 10 Apr 2023 02:00:22 +0000 https://www.traveldailymedia.com/?p=785038 The post GO FIRST partners with BookMyForex  appeared first on TD (Travel Daily Media) Brand TD.

GO FIRST (formerly known as GoAir) in its endeavour to strengthen www.flygofirst.com as a one-stop-shop for all travel needs of passengers, today announced its partnership with BookMyForex.

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GO FIRST (formerly known as GoAir) in its endeavour to strengthen www.flygofirst.com as a one-stop-shop for all travel needs of passengers, today announced its partnership with BookMyForex, India’s leading Foreign Currency Exchange services provider to offer seamless and hassle-free foreign exchange services to the international flyers.

This service will be available to the travellers as a part of GoXtras that provides ancillary benefits. BookMyForex provides multiple products and services such as Multi currency forex cards, International Money Transfers and exchange of Foreign Currency Notes. BookMyForex’s online platform offers the best rates as well as same day doorstep delivery for currency notes and forex cards in more than 50 cities across India. Passengers can utilize this service on GO FIRST website (www.FlyGoFirst.com), or via GO FIRST official Mobile App.

Commenting on the initiative,  Kaushik Khona, Chief Executive Officer, GO FIRST, said, “We are pleased to partner with BookMyForex, we believe that this partnership will elevate and ease the travelling experience of international travellers. We are optimistic that this service will prove to be a one-stop solution and we look forward to providing a seamless experience to the travellers.”

Commenting on the partnership, Sudarshan Motwani, Founder & CEO, BookMyForex, said, “The attempt here is to make purchase of foreign exchange hassle-free and cost effective for GO FIRST customers leveraging our strength of same day doorstep delivery of currency notes and forex cards in more than 50 cities across the country.”

GO FIRST has always been at the forefront of customer satisfaction, and in line with its, You Come First philosophy, has introduced several passenger-friendly services aimed at providing a seamless experience. This value added service is an extension of its customer-centric philosophy, “You Come First”.

 

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Mastercard partners with Illusions Online https://dev.traveldailymedia.com/mastercard-partners-with-illusions-online/ Thu, 06 Apr 2023 05:46:38 +0000 https://www.traveldailymedia.com/?p=784477 The post Mastercard partners with Illusions Online appeared first on TD (Travel Daily Media) Brand TD.

Mastercard and Illusions Online, a global leader in enterprise solutions for hospitality industry, have partnered to launch a unique online platform to bring tailored travel offers to Mastercard cardholders.

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Mastercard and Illusions Online, a global leader in enterprise solutions for hospitality industry, have partnered to launch a unique online platform to bring tailored travel offers to Mastercard cardholders.

The new offering from Mastercard and Illusions Online will feature curated and exclusive offers from the best hotel chains around the world with discounts of up to 30%. The offer will also include bespoke travel experiences, such as early check-in, late checkout, room and status upgrades, and F&B credits. Bookings are made seamlessly via the platform, which is due to be launched in the coming months and accessible via priceless.com.

According to recent travel research1), consumer travel has already surpassed 2019 levels during the same period. Consumer travel has, however, changed post-pandemic with consumers taking shorter trips more frequently which is benefiting domestic and regional travel; consumers choosing kids friendly destinations as a means to reconnect with family and relatives; and remote working policies allowing for blended leisure and business travel or “bleisure travel”.

“Our partnership with Illusions Online will provide our cardholders with personalized and unique Priceless experiences that will elevate travel experiences to new levels. After two years of suppressed travel, people are eager to explore new horizons with their loved ones, from planned family trips to spontaneous minibreaks. At Mastercard, we are committed to support the continued recovery of the travel sector through technology-led innovative solutions,” said Gaurang Shah, Executive Vice President, Products and Engineering, EEMEA, Mastercard.

Recent surveys show that consumers would rather spend on experiences as opposed to purchasing physical goods. 74% of UAE affluent travelers2 want to come back from holiday having learnt something new.   The Mastercard travel platform powered by Illusions Online will become the go-to place for people’s next travel adventure with attractive hotel offers and value-added services.

“Illusions’ suite of solutions simplistically adapts and responds effectively to the ever-changing market requirements and conditions of the travel industry. Our collaboration with Mastercard will allow its select card holders to get access to the best hotel offers and experience a level of service that will be extremely unique in its offerings. In return, our global hotel partners will get access to a lucrative customer base, as an extension of their direct marketing strategy – all connected and seamlessly booked via Illusions booking engines, iWTX marketplace platform and payments powered by iOL Pay,” said Faisal Memon, Founder & CEO, Illusions Online.

The new travel platform will enable Mastercard Titanium, Platinum, World, and World Elite cardholders to experience the benefits of the Illusions partnership that will provide them with value-added services and offers gained through its network of the biggest hotel chains worldwide.

 

 

 

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Thomas Cook India inks long term agreement to set up Forex outlets at Manohar International Airport, Mopa – Goa https://dev.traveldailymedia.com/thomas-cook-india-inks-long-term-agreement-to-set-up-forex-outlets-at-manohar-international-airport-mopa-goa/ Wed, 05 Apr 2023 04:54:41 +0000 https://www.traveldailymedia.com/?p=784079 The post Thomas Cook India inks long term agreement to set up Forex outlets at Manohar International Airport, Mopa – Goa appeared first on TD (Travel Daily Media) Brand TD.

Thomas Cook (India) Limited inaugurated new Forex outlets at the new Manohar International Airport - at Mopa, Goa.

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Thomas Cook (India) Limited inaugurated new Forex outlets at the new Manohar International Airport – at Mopa, Goa. The Company has won a 5 year contract for setting up and operating 4 foreign exchange counters at the new Goa Airport. This expands Thomas Cook India’s forex network/consumer access in Goa to 6 outlets: 2 branches and 4 airport outlets. In addition, the company operates 25 airport counters across India, Sri Lanka and Mauritius.

In an initiative to ensure safe, seamless and convenient merchant payments, Thomas Cook’s Goa airport counters will empower foreign nationals from G20 nations and NRIs, with UPI enabled Indian Rupee transactions on arrival. Travellers can then access their INR wallet to ensure smooth and secure digital payments across millions of merchant establishments equipped with the UPI QR facility pan India. The prepaid payment product is issued by Pine Labs under the PPI authorisation obtained from RBI.

Goa is a key and significant growth market for tourism – for both inbound and outbound, in addition to the domestic market. With strong pent-up demand and easing of restrictions driving positive consumer sentiment, consumers are displaying high travel desire. The new Mopa Airport is expected to serve approx. 4.3 Mn passengers in the first year with an increase to approx. 13.1 Mn passengers within 5 years. The new forex counters at the airport offers Thomas Cook significant opportunity to capitalize on the foreign exchange requirements of both inbound and outbound travellers.

Thomas Cook’s new airport counters have been designed around the concepts of “Ethnicity – Luxury – Comfort”, creating a refreshing and vibrant appeal. The outlets prioritise passenger comfort with an open layout concept and high/low counters. An important factor is the focus on Indian elements, deployment of Indian art forms, motifs and gold arches. In keeping with the Company’s focus on protecting the environment, what is noteworthy is the use of sustainable material.

Thomas Cook India has positioned itself as India ka Forex Specialist with continued focus on the foreign exchange segment and sustained leadership in the space. The Company is the largest non-bank foreign exchange services provider in India and serves over a million customers every year.

Deepesh Varma, executive vice-president – Foreign Exchange, Thomas Cook (India) Limited said, “Goa is a strong high growth market for us at Thomas Cook India. With the new Manohar International Airport at Mopa (Goa), and its anticipated passenger loads of approx. 13.1 Mn in 5 years, we foresee a significant forex requirement in the region. We are hence delighted to announce Thomas Cook’s successful bid for a 5 year contract at Goa’s Mopa airport. Our four new foreign exchange counters will ensure smooth and secure customer transactions at this prime gateway airport.

Forex is a key business line for the Company and our strong focus has ensured our leadership – as India’s largest non-bank Foreign Exchange service provider. This contract will further strengthen Thomas Cook India’s presence in this growing forex market with presence at Goa’s new airport.”

Thomas Cook’s Forex business leveraged India’s rapidly growing digital ecosystem to accelerate its digital transformation.

The company’s unique omnichannel model empowers customers with choice and convenience: simple, secure and quick bookings via its online forex store; the FXMATE digital tool supports over 1500 B2B partners with virtual Foreign Exchange services; also support through its call centre or by walking in to their closest forex outlet to transact with an in-store expert. Thomas Cook India’s FxNOW ushers in a digitized foreign exchange model that ensures seamless and contactless forex services. The Company also takes care of the customers’ Forex requirements via a convenient process to ensure an unparalleled customer commitment in the form of Gharpe Forex – doorstep delivery in 2 hours!

 

 

 

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Alipay records rebound in outbound Chinese tourists spending amid tourism recovery https://dev.traveldailymedia.com/alipay-records-rebound-in-outbound-chinese-tourists-spending-amid-tourism-recovery/ Mon, 03 Apr 2023 00:45:15 +0000 https://www.traveldailymedia.com/?p=782947 The post Alipay records rebound in outbound Chinese tourists spending amid tourism recovery appeared first on TD (Travel Daily Media) Brand TD.

Amid global cross-border tourism recovery, the average spending of Chinese tourists using Alipay overseas doubled in the first quarter of 2023 compared with pre-pandemic levels in the same period in 2019, according to Alipay

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Amid global cross-border tourism recovery, the average spending of Chinese tourists using Alipay overseas doubled in the first quarter of 2023 compared with pre-pandemic levels in the same period in 2019, according to Alipay, the leading digital open platform that offers a popular mobile payment method and all kinds of life services to Chinese consumers.

Outbound Chinese tourists on average made more transactions in the first quarter of 2023, with an increase of 20% compared with the same period in 2019, according to the platform. According to the forecast of China Tourism Academy, the number of inbound and outbound tourist visits is expected to exceed 90 million times, equivalent to 31.5% of the pre-pandemic level.

The top 5 shopping destinations by transaction volume for Chinese mainland Alipay users traveling cross-border are Macao SAR, Hong Kong SAR, Japan, Thailand and France, while the top 5 tourist destinations by number of transactions are Hong Kong SAR, Macao SAR, Japan, Thailand and Malaysia. Over 90% of merchants in Hong Kong, from street-side food stands to major retailers, have adopted Alipay to serve Chinese mainland tourists, and “transportation QR code” is the most popular search term on Alipay for these tourists in the first quarter of 2023.

In the quarter, foreign exchange rates and benefits offered by local merchants are the most searched services by Chinese tourists on the Alipay platform when they traveled overseas, followed by air tickets and hotels. Alipay offers preferential exchange rates to users according to their membership level as well as digital coupons with various merchant benefits targeting Chinese consumers. Additionally, the search for mobile data increased by 600% compared with that of 2022.

Tourism boards, brands and merchants in popular tourist destinations are welcoming the return of Chinese tourists in various ways. The Tourism Authority of Thailand has formed a strategic partnership with leading platforms like Alipay. Through this partnership, Chinese travelers paying via Alipay in Thailand where there are more than 550,000 partnered merchants are able to enjoy exclusive benefits. Currently, merchants and brands in over 70 countries and regions support Chinese tourists to pay via Alipay.

Merchants and brands from Asia to Europe are already gearing up to welcome Chinese tourists. Efforts by popular shopping destinations such as department stores Printemps in France, El Corte Inglés in Spain and La Rinascente in Italy, retail complex La Roca Village and Las Rozas Village in Spain, as well as leading travel retail operators like Dubai Duty Free, include hiring Chinese-speaking staff, launching dedicated benefits programs and campaigns for Chinese consumers, and offering convenient mobile payments and tax refund services through the Alipay platform.

Korea Railway is among the latest to launch a mini-program on Alipay to allow Chinese tourists to check train timetables of the country’s all major cities, reserve a ticket and make the purchase directly in the Alipay app, with a promotion from April 10 to May 9.

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Founders of German Airline launch new global payment orchestration platform for travel merchants https://dev.traveldailymedia.com/founders-of-german-airline-launch-new-global-payment-orchestration-platform-for-travel-merchants/ Fri, 31 Mar 2023 07:15:03 +0000 https://www.traveldailymedia.com/?p=782472 The post Founders of German Airline launch new global payment orchestration platform for travel merchants appeared first on TD (Travel Daily Media) Brand TD.

The founders of German airline, Hahn Air have announced the launch of a new global payment orchestration platform, FinMont, specifically for Travel Merchants.

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The founders of German airline, Hahn Air have announced the launch of a new global payment orchestration platform, FinMont, specifically for Travel Merchants. The new payment platform uses cloud-native technologies to integrate acquiring banks, payment, fraud, forex, and chargeback providers and offer a fully automated and seamless payment solution. It aims to reduce shopping cart abandonment, increase sales conversion, and ensure clear visibility across the payment flow for all payment transactions.

The PayTech firm is offering the travel industry a significantly different solution compared to other options available as it will streamline not only B2C payments but also B2B payments. Combining both payments into a single view will help decision-makers identify and fix any inefficiencies in their current payment processes. The firm’s mission is to help travel merchants use payments as a strategic tool to stand out from competitors.

In the B2C payments space, many airlines and agents lose customers in the buying process due to only being able to offer limited payment methods. Some have even relied on only one payment provider, which is a high-risk strategy and can have huge consequences, especially if there is any downtime and by having such a limited solution this can mean higher fees for payments

With B2B payments, merchants historically have struggled to process supplier payments as they all require unique information such as time of payments, payment methods used or invoicing process. Whether travel merchants are pre-paying suppliers, paying them in multiple currencies, paying them on check-out or on receipt of an invoice, FinMont will streamline and automate the whole process.

The new payment orchestration platform aims to revolutionise payments by connecting multiple banks and providers seamlessly through one simple gateway. It will also improve payment authorisation and conversion rates, reduce payment costs, and remove historic issues such as downtime or reliance on one payment provider. It will also give travel merchants more freedom in choosing their payment partners and accommodate industry-specific payment flows like IATA NDC.

The FinMont ecosystem will not only connect acquiring banks, payment, fraud, forex, and chargeback providers but also integrate with ERP/CRM systems and other travel specific distribution channels offering a complete payment ecosystem for the travel industry.

Dr Suby Valluri, CEO of FinMont, commented, “Having worked in the travel and payment industry for many years with a software engineering and economics background I have seen first-hand how complex and often archaic payment solutions impact airlines and travel agents. With so many payment methods, banks and card suppliers around the globe managing payments have always been challenging for firms across the travel sector.

To be able to launch our solution with the founders of Hahn Air, we believe FinMont offers a truly unique and cutting-edge solution for the global travel industry to tackle both B2C and B2B payments.”

 

 

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UK consumer spending habits on Travel https://dev.traveldailymedia.com/uk-consumer-spending-habits-on-travel/ Wed, 29 Mar 2023 00:05:37 +0000 https://www.traveldailymedia.com/?p=781340 The post UK consumer spending habits on Travel appeared first on TD (Travel Daily Media) Brand TD.

UK digital payment solutions provider takepayments has released their UK Spending Index, which analysed millions of card payments to reveal how consumer spending habits have changed from 2020-22.

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UK digital payment solutions provider takepayments has released their UK Spending Index, which analysed millions of card payments to reveal how consumer spending habits have changed from 2020-22.

Some of the key findings from the data regarding the travel industry are:

The travel industry saw the highest amount of growth year on year, with a 32% increase in spending from 2021-2022. Consumer spending in the travel sector has grown 116% since 2020 as travel restrictions eased. Health & Leisure Spending increased 20% year on year.

Despite Cost-of-Living challenges, 61% of Brits interviewed by ABTA in its Holiday Habits report said they were still planning a holiday abroad in 2023, and 29% of people are planning to take an all-inclusive holiday in 2023 to help them manage their finances.

Jodie Wilkinson, Head of Strategic Partnerships at takepayments, said in response to the data: “It’s interesting to see that despite the increasing cost of living in 2022, UK consumers continued to spend money on travel and leisure activities. A significant contributing factor to the increase is the travel lockdowns that were in effect at the start of 2021. Even so, spending on travel in Q3 and Q4 of 2022 was up 10% compared to 2021, when there were no travel restrictions.

“Hotels also saw a jump in spending in 2022; our data showed a year-on-year increase of 10.2%. This increase in spending is primarily influenced by the increasing prices that customers and businesses face in this sector.

“It’s likely that many people will be looking to save money on travel and leisure in 2023 as the cost of essentials like bills and food continue to grow, but the data says people will still try to prioritise holidays. It will be fascinating to see what the response is from the travel industry.”

Overall findings from the Spending Index also revealed: UK consumer spending in 2022 was 21% higher than in 2021 as the post-pandemic boom meets inflation.  Spending in restaurants and bars increased 20% in 2022, while many other industries declined

 

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More than a third of Europeans ready to accept finance products from transport providers https://dev.traveldailymedia.com/more-than-a-third-of-europeans-ready-to-accept-finance-products-from-transport-providers/ Tue, 28 Mar 2023 04:58:47 +0000 https://www.traveldailymedia.com/?p=781687 The post More than a third of Europeans ready to accept finance products from transport providers appeared first on TD (Travel Daily Media) Brand TD.

More than a third of European customers are eager to engage with financial services offered by transport providers – including airlines, car manufacturers, train companies, and car associations according to new research from Solaris.

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More than a third of European customers are eager to engage with financial services offered by transport providers – including airlines, car manufacturers, train companies, and car associations according to new research from Solaris.

Italian consumers are most eager to try embedded financial services from transport providers, with 61.8% saying they are open to payment cards, (e-money or bank) accounts, or credit. Italian millennials (aged 25 to 34) are especially keen, with 68.9% stating their willingness to use one of the products. Spain was the second strongest market: 51.3% would use at least one embedded financial product from a transport provider.

The other two markets in the survey, Germany and France, were marginally less keen to use an account, payment card, or credit product from a transport firm – at 36.1% and 33.3% respectively. Though again, millennials were much more open to this. The data comes from a new Solaris whitepaper titled ‘On the move: The embedded finance opportunity in the mobility sector’, supported by Handelsblatt Research Institute and YouGov Deutschland GmbH.

Andrea Ramoino, MD EMI UK & EEA at Solaris, comments: “Our study found a high correlation between trust and willingness to try new products from trusted providers in mainland Europe. The higher our respondents rated a transport brand for safety and reliability, the greater their motivation to use a financial product from that brand.”

The whitepaper also emphasises that the main reason consumers in Italy and Spain are most likely to use embedded finance products from travel or transport providers is because they are more willing to buy goods and services on credit. This is illustrated by consumer appetite to finance a Volkswagen car: 33% of Italians and 22% of Spaniards would consider an embedded loan from Volkswagen Financial Service. Meanwhile, only 13% of Germans and 11% of French respondents would consider this option.

In addition, 22% of Italian respondents would use a credit card from Easyjet and 21% of Spanish participants would use a payment card from AirEuropa. Europcar (car hire company) also ranked high in both countries; with 25% of Italians and 21% of Spaniards saying they would use a Europcar credit card. Given this data and a May 2022 survey by Norisbank, which found that over 75% of respondents said credit cards are their preferred way to pay when traveling, it seems credit cards could be a significant method of embedding a first financial product and increasing revenue for providers.

Ramoino added: “A well-considered embedded finance offering can deepen customer relationships, simplify transactions, and create new revenue streams. But this can’t be a one-way road only benefiting transport companies. It is crucial that customers also receive added value, otherwise they would not accept the products. While our most recent survey looked at mainland European markets, it shines a light on the potential value UK businesses are leaving on the table by not utilising embedded finance within their offering.”

 

 

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Etisalat by e& Egypt and Mastercard partnership to redefine digital experience https://dev.traveldailymedia.com/etisalat-by-e-egypt-and-mastercard-partnership-to-redefine-digital-experience/ Thu, 23 Mar 2023 03:15:25 +0000 https://www.traveldailymedia.com/?p=780366 The post Etisalat by e& Egypt and Mastercard partnership to redefine digital experience appeared first on TD (Travel Daily Media) Brand TD.

Last week e& group and Mastercard announced a region wide strategic partnership. Building on this strategic partnership, Etisalat by e& Egypt, a leading tech-telco operator, has partnered with Mastercard to redefine digital experience and commerce for its e-wallet, Etisalat Cash, for customers across Egypt.

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Last week e& group and Mastercard announced a region wide strategic partnership. Building on this strategic partnership, Etisalat by e& Egypt, a leading tech-telco operator, has partnered with Mastercard to redefine digital experience and commerce for its e-wallet, Etisalat Cash, for customers across Egypt. The wallet will enable secure payment experiences to millions in the country.

Etisalat by e& Egypt will leverage Mastercard’s technology and digital assets to create innovative open payment solutions. Customers can also create an Etisalat Cash e-wallet on their mobile phones to facilitate a host of seamless digital transactions.

The partnership falls within the framework of Etisalat by e& Egypt’s strategy that puts customers at its core and views the provision of the latest and most secure services as one of its priorities. This strategic partnership is expected to make great strides in advancing the evolution of commerce in the local market.

Etisalat Cash wallet allows customers to issue a virtual card seamlessly and complete day-to-day payments with just one click, powered by Mastercard technology. Users can transfer money to and from any mobile number in Egypt from any telecom provider, shop online locally and internationally, pay bills, recharge their mobile credit, withdraw cash from ATMs, and complete merchant payments. The e-wallet can also be used to pay for government services and is available even to customers who do not have a bank account.

“As a global pioneer in payment innovation and technology, Mastercard is enabling e& vision to digitize societies and transform consumer experience across multiple markets. Our partnership with Etisalat by e& Egypt will provide a seamless digital experience and foster greater adoption and usage of digital payments to further drive financial inclusion in the country,” said Amnah Ajmal, Executive Vice President, Market Development EEMEA, Mastercard.

 “Our new strategy, inspired by e&, focuses on integrating communication services with technology in a way that provides people with distinctive services and innovative solutions. Our latest cooperation with Mastercard as part of our long-standing strategic partnership represents a significant milestone in the execution of the group strategy,”said Ahmed Yehia, Etisalat by e& Egypt CCO.

As more people enter the financial mainstream, money management tools and solutions become even more critical to macro-economic growth. Mastercard is creating a future where payments keep pace with the way one lives, works and does business, accelerated by the rapid transition to digital solutions and offerings.

This strategic partnership with Etisalat by e& Egypt supports Egypt’s digital transformation that will further drive financial inclusion across the country.

 

 

 

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Top five ways to save on your summer holidays https://dev.traveldailymedia.com/top-five-ways-to-save-on-your-summer-holidays/ Wed, 22 Mar 2023 00:15:25 +0000 https://www.traveldailymedia.com/?p=779884 The post Top five ways to save on your summer holidays appeared first on TD (Travel Daily Media) Brand TD.

While it may seem early to start thinking about saving money to spend on your summer holidays, now is the perfect to time to get ahead of the curve.

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While it may seem early to start thinking about saving money to spend on your summer holidays, now is the perfect to time to get ahead of the curve. Last year the average budget for spending money for UK holiday makers was less than £500 for the week. And interestingly, one in five people (17%) rarely or never stick to their planned budget, exceeding it by around £50 a day.

As people look for ways to save money across all areas of life, Stacey Hope, travel expert at holiday home operator, Verdant Leisure, says the key to getting your summer holiday right is by thinking about it now: “When it comes to saving up for your holidays there is no such thing as too soon. The earlier you start putting money aside, the more money you will have to spend while away, meaning you don’t have to cut back on days out.”

If you’re looking to keep a tight plan when it comes to money this summer, Verdant Leisure have teamed up with Laura Turner, personal finance expert at The Thrifty Londoner to bring you five money-savvy tips you need to try, ahead of the summer holidays.

1) Set up money pots
“Setting up an easy access savings account or savings ‘pot’ is the best way to save money ahead of your summer holidays. You can do this either in cash or within a dedicated challenger bank or budgeting app (Monzo, Starling and Chase are all great). Slowly add to these pots over the winter and the spring, and by summer you will have a stash of money to use ahead of the holidays.

“Some online banking providers such as Monzo have a feature which allows you to round up all your transactions, and the extra money is put into a savings pot. Try this in the lead up to your holiday and see how much extra money you have saved up to take away with you.”

2) Utilise cashback sites
“In the lead up to your holiday there will be various occasions in which you have to refer to online shopping, be that for holiday essentials or just general shopping. When doing so, make use of cashback apps and websites such as Top Cashback, to get money back on your everyday spending.

“It allows you to earn a small percentage of money back on purchases made through the site, that can be withdrawn once you earn a certain amount. Once summer comes, you’ll have accumulated some extra money that you can withdraw to use on your holidays.”

3) Sell and shop second-hand
“Buying clothes for summer holidays can often work out to be the most expensive element of planning to go away. Online re-sale sites such as Vinted, e-Bay and Depop are great options for both making extra money and buying summer clothes.

“If you are wanting to make some extra cash to splurge on new outfits, try selling your unwanted clothes and shoes on a re-sale site. You can either put the money aside for holiday spending money or use the money that you make to buy your summer clothes. Purchasing your summer clothes out of season and second-hand can save you a fortune.”

4) Shop the sales
“Believe it or not, you can find summer clothing at a snip of the original RRP by shopping for sale items during the winter. Check out the clearance sections of your favourite retailers to get a bargain on swimwear and other summer essentials such as shorts and sunglasses. Toiletries and sun cream also tend to keep for a few months, so buy these before the prices rise in holiday season.

“What’s great about shopping in the sales is you’re not going pick up the trending piece of the season, so you don’t have to worry about matching with every other tourist on your holidays.”

5) Book everything in advance
“If you’re taking a flight, train, or hiring a car, see if you can book early to get the best deal possible. It is also helpful to book any excursions or activities you plan to do in advance, not only so you can ensure a place before they get fully booked, but so the payments are out of the way before the actual holiday.

“Similarly, booking restaurants in advance will ensure you are dining somewhere with a menu you like and prices you can afford, making it easier to budget your spending money once you are abroad.”

Stacey Hope, travel expert at Verdant Leisure commented: “Everyone deserves to get away and unwind from the stress of everyday life, but summer holidays can often become expensive once you begin to consider new clothes, insurance, booking activities and so much more.

“To stop the holiday from becoming just as stressful as the place you’re trying to escape from, there are some great ways to make savings well in advance of you holiday. And we love that you can start ahead of summer, when you wouldn’t always think to start planning.”

 

 

 

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Astra Tech forges agreement with Mastercard https://dev.traveldailymedia.com/astra-tech-forges-agreement-with-mastercard/ Wed, 15 Mar 2023 02:30:50 +0000 https://www.traveldailymedia.com/?p=778468 The post Astra Tech forges agreement with Mastercard appeared first on TD (Travel Daily Media) Brand TD.

 Astra Tech's PayBy, a Central Bank-UAE licensed Fintech offering a variety of financial technology services, has achieved a significant milestone in the MENA region fintech space by becoming one of the first fintech player to obtain a Mastercard principal membership license.

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Astra Tech’s PayBy, a Central Bank-UAE licensed Fintech offering a variety of financial technology services, has achieved a significant milestone in the MENA region fintech space by becoming one of the first fintech player to obtain a Mastercard principal membership license. This achievement further elevates Astra’s ecosystem, which is now enabled to provide users with the full spectrum of financial services. Furthermore, Astra’s PayBy is the pioneer in offering multi-currency prepaid metal cards through its premium card offering, providing customers with an elevated level of financial flexibility and convenience.

Through the partnership with Mastercard , Astra will issue branded Mastercard digital and physical cards to millions of users on top of its platforms BOTIM and Payby, providing authorization services and prepaid multi-currency cards. Additionally, Astra is licensed to  act as an acquirer, leveraging  Mastercard’s suite of products, including Payment Gateway, Tap on Phone, and Fraud & Cyber Security.

Additionally, as part of Astra’s vision to become the region’s leading technology enabler, the company will be able to offer BIN sponsorship services, enabling other third-party Fintechs to issue prepaid cards and connect with Mastercard’s card scheme network. These efforts strengthen Astra’s position to empower other Fintechs in the region.

With over 100 million registered users and an 80% market penetration rate in the UAE, BOTIM has the ability to become the biggest card-issuing fintech in the region enabling millions of users to access cutting-edge financial services on top of their communication platforms.

Abdallah Abu Sheikh, Co-Founder and CEO of Astra Tech, BOTIM’s parent company, stated: “Our vision is to be the leading technology player in the MENA region. We are one of the biggest technology companies in this part of the world, helping tens of millions of users daily. Our commitment is to make our users’ lives easier. Financial services are one of the most important and underdeveloped sectors in this part of the world. To take on this challenge, we chose to partner with a trusted and world-renowned company like Mastercard to ensure we provide the best service our users deserve.

J.K. Khalil, Cluster General Manager, MENA East, Mastercard said: “At Mastercard, we are enabling fintechs to innovate and bring new digital payment solutions to market with speed and ease. We are excited to partner with Astra Tech’s PayBy and support their vision to further empower other fintechs through our BIN sponsorship services. Through this partnership, millions of users will have access to Mastercard’s global reach and suite of products as we join forces to create a more connected and inclusive digital future for all.”

Astra Tech, the UAE-based technology development and investment company that acquired BOTIM and Payby earlier this year, has rapidly transformed the VoIP app’s capabilities to serve as the base of its upcoming Ultra App.  The acquisition of BOTIM is a landmark transaction for the MENA’s tech scene. With over 100 million registered users and an 80% penetration rate in the UAE, BOTIM is a popular VoIP app in the region.

Earlier this month, Astra launched international money transfers on top of BOTIM and aims to launch the full ultra app capability by Q2 2023.

 

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AUB and Mastercard sign exclusive strategic partnership in Bahrain https://dev.traveldailymedia.com/aub-and-mastercard-sign-exclusive-strategic-partnership-in-bahrain/ Tue, 07 Mar 2023 06:05:40 +0000 https://www.traveldailymedia.com/?p=777016 The post AUB and Mastercard sign exclusive strategic partnership in Bahrain appeared first on TD (Travel Daily Media) Brand TD.

Ahli United Bank B.S.C (AUB), a Bahrain-based leading pan-regional Banking group, has signed a strategic partnership with Mastercard.

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Ahli United Bank B.S.C (AUB), a Bahrain-based leading pan-regional Banking group, has signed a strategic partnership with Mastercard. The agreement designates Mastercard as the exclusive partner of choice for all AUB’s existing and acquired card programs in Bahrain.

During 2022, AUB acquired Citibank’s retail banking business in Bahrain, and this partnership will cover their entire portfolio, including the acquired segment, with a differentiated offering that focuses on premium and travel. Mastercard will also support AUB in launching value-added services to enhance and differentiate the latter’s cards proposition and strengthen the long-standing relationship between the two organizations. These services include real-time remittance solutions, innovative loyalty programs and cyber intelligence solutions amongst others. With that, AUB would ensure to provide its customers the highest standards of customer experience.

AUB will also launch the World Elite product, which gives cardholders an unrivaled array of specially curated travel, lifestyle, and insurance benefits. These include access to select luxury experiences, shopping opportunities in cities around the world, discounted car rental and chauffeur services, complimentary nights at select hotels and resorts, as well as access to premium airline services.

Suvrat Saigal, Deputy Group CEO – Retail Banking at AUB, said: “We are pleased to choose Mastercard as our exclusive partner for all our issuing activities and growth plans of our retail offerings. In addition to this strategic agreement, we will be introducing the World Elite Card to the AUB portfolio. With our recent acquisition of Citibank’s retail business, this will further strengthen our consumer offering, allowing customers to capitalize on a wide array of benefits and experiences.”

Khalid Elgibali, Division President – Middle East & North Africa at Mastercard, said: “At Mastercard, we are committed to providing innovative digital payment solutions that address the evolving needs of our consumers. And as AUB’s exclusive partner of choice, we look forward to working with them on building a more connected ecosystem and a thriving world beyond cash. Our collaboration with AUB will provide their customers with a variety of value-added benefits and solutions that will elevate their payment experience.”

The newly formed agreement cements Mastercard’s position as a partner of choice for major financial institutions in Bahrain and across the region.

 

 

 

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AUB and Mastercard Sign Exclusive Strategic Partnership in Bahrain
GA Telesis and Tokyo Century Corporation launch HALO AirFinance https://dev.traveldailymedia.com/ga-telesis-and-tokyo-century-corporation-launch-halo-airfinance/ Mon, 06 Mar 2023 05:26:04 +0000 https://www.traveldailymedia.com/?p=776849 The post GA Telesis and Tokyo Century Corporation launch HALO AirFinance appeared first on TD (Travel Daily Media) Brand TD.

GA Telesis, LLC ("GAT") and Tokyo Century Corporation ("TC") announce the launch of its new joint venture lending platform, HALO AirFinance ("HALO"). 

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GA Telesis, LLC (“GAT”) and Tokyo Century Corporation (“TC”) announce the launch of its new joint venture lending platform, HALO AirFinance (“HALO”). HALO will serve as the exclusive debt origination channel for GAT and TC, with a focus on secured direct lending to airlines, lessors, and investors, covering the collateral spectrum from new to mid-life aircraft.

HALO will be uniquely positioned in the aviation finance sector as a combination of the respective structuring and financing expertise and asset and technical capabilities of GAT and TC. HALO will fill a need in an underserved marketplace that lacks a global, independent, and savvy asset-backed lender.

HALO is launching its first fund HALO One, in partnership with InterVest Capital Partners (f/k/a Wafra Capital Partners), a veteran investor in both aviation and the specialty finance sectors. “GA Telesis has been our longstanding aviation investment partner for over ten years, and the HALO lending strategy is a natural and opportune evolution of our collective capabilities,” commented Michael Gontar, CEO of InterVest Capital Partners.

HALO One will benefit from an innovative revolving credit facility led by Citigroup as Structuring Agent and Co-lead Arranger and Fifth Third Bank, National Association, as Co-lead Arranger.

“There is a substantial opportunity to address the need for smarter asset-focused lending in the aviation industry,” commented Abdol Moabery, CEO of GA Telesis. Moabery further remarked, “HALO is unmatched as a lending platform given its extensive originations footprint, direct access to market values, and comprehensive in-house technical capabilities.”

 

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Adyen develops fully integrated ‘Click to Pay’ https://dev.traveldailymedia.com/adyen-develops-fully-integrated-click-to-pay/ Fri, 03 Mar 2023 07:27:37 +0000 https://www.traveldailymedia.com/?p=776577 The post Adyen develops fully integrated ‘Click to Pay’ appeared first on TD (Travel Daily Media) Brand TD.

Adyen the global financial technology platform of choice, announces that it has become the first to embed the Click to Pay experience into its online checkout flow in all available markets.

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Adyen the global financial technology platform of choice, announces that it has become the first to embed the Click to Pay experience into its online checkout flow in all available markets. This innovative method of data retrieval addresses the widespread hurdle of manual card entry at the payment stage. By enabling enrolled shoppers to bypass data entry during online checkout and complete the transaction in only a few clicks, it simplifies the payment experience across devices and browsers. Building on Adyen’s advanced digital offering – the company’s original and persisting focus area – Click to Pay marks the latest stride forward in reducing friction for shoppers and increasing conversion for global businesses.

“Many businesses still struggle with low conversion at online checkout, especially as it pertains to first-time or one-time shoppers,” said Edgar Verschuur, Global Head of Payments at Adyen. “We are committed to addressing this challenge using a range of global payment initiatives. By embedding Click to Pay into our online payment flow, we eliminate the need for consumers to manually enter their card details. This makes it quicker, more intuitive, and less error-prone for shoppers to successfully complete their purchase, which ultimately drives revenue for our customers.”

Every step added to a consumer’s payment journey increases the chances that they will abandon their purchase. To combat the risk of drop-off at the checkout stage, Adyen makes online payments as fast and effortless as possible – all while maintaining the highest level of trust and security. Rather than manually entering card details – a common cause of frustration which is prone to human error – Adyen retrieves a shopper’s historically preferred card information on their behalf. The resulting payment solution is available even when checking out as a guest. It not only saves time and effort, but also provides shoppers with the comfort of not needing to share card details with every online business they transact with.

With Click to Pay joining Adyen’s growing repertoire of checkout functionality, Adyen continues to lead the transition to more seamless and secure transactions. Click to Pay improves conversion, authorization, and the overall customer experience. It is supported by major card schemes including Mastercard and Visa. Adyen looks forward to supporting the growth of digital business.

 

 

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JAGGAER partners with Workato https://dev.traveldailymedia.com/jaggaer-partners-with-workato/ Fri, 24 Feb 2023 07:50:22 +0000 https://www.traveldailymedia.com/?p=773744 The post JAGGAER partners with Workato appeared first on TD (Travel Daily Media) Brand TD.

JAGGAER, the leader in Autonomous Commerce announced an agreement with Workato, the automation and integration platform as a service (iPaaS) provider.

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JAGGAER, the leader in Autonomous Commerce announced an agreement with Workato, the automation and integration platform as a service (iPaaS) provider. The partnership will make it easy to connect with certified Workato connectors for enterprise software from vendors like NetSuite, Oracle, SAP, Workday and Microsoft, as well as custom applications, databases, and data feeds such as Dun & Bradstreet, in an efficient and accelerated manner without the need for technical assistance.

Workato was recently named a Leader in the Gartner® Magic Quadrant™ for iPaaS for the fifth year running. It provides prebuilt connectors and “recipes” for integration between different complex software environments. By contrast, custom integrations normally require considerable resources, time, and effort. “We are absolutely thrilled with this agreement. Extensibility is one of the core precepts behind our vision of Autonomous Commerce,” commented Dawn Andre, chief product officer, JAGGAER. “Together with our own robust set of public APIs for key business objects, we’re offering customers many flexible options for extending the reach of JAGGAER applications across the wider IT landscape, with faster time to value and less reliance on IT resources.”

“Businesses shouldn’t be stuck with data silos or project backlogs due to lengthy implementations and the use of expensive specialists,” said Vijay Tella, co-founder and CEO at Workato. “Workato preset recipes will offer wall-to-wall automations and integrations with JAGGAER to create seamless, automated, and enhanced source-to-pay solutions. With Workato’s embedded platform, the JAGGAER team is now able to readily access over 1,000 third-party app connectors, address their customer’s integration needs at a faster pace, and do it in a cost-effective manner.”

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Workato enables a wide range of integrations including connections to specific, localized data feeds between JAGGAER and ESG or supplier risk data vendors, as well as well-known enterprise software suites. Workato already has an extensive library of connectors for this purpose. However, if one does not exist, JAGGAER or one of its SI partners can create new recipes in Workato, which can then be reused by other customers.

“Workato provides a low-code interface that simply intermediates the APIs on both sides, and because everything is done with a preset recipe, our customer organizations will benefit and see value immediately,” Andre said.

JAGGAER SI partner Velocity Procurement will provide a Workato connection between JAGGAER and Oracle. Velocity Executive Vice President Michael Jasper commented, “We’re delighted to offer JAGGAER customers who utilize Oracle the opportunity to integrate the two flexibly, with no effort or delay on their part.”

JAGGAER can host Workato recipes to provide integrations on behalf of any of its customers worldwide. JAGGAER SI partners will also have direct access to the recipes without any need to host them separately.

 

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Mastercard and Network International launch new Artificial Intelligence fraud-prevention solution https://dev.traveldailymedia.com/mastercard-and-network-international-launch-new-artificial-intelligence-fraud-prevention-solution/ Fri, 10 Feb 2023 00:30:15 +0000 https://www.traveldailymedia.com/?p=770878 The post Mastercard and Network International launch new Artificial Intelligence fraud-prevention solution appeared first on TD (Travel Daily Media) Brand TD.

Mastercard announced that it is partnering with Network International, the  enabler of digital commerce across the Middle East and Africa, to address fraud, declines and chargebacks in order to reduce costs and risk for acquirers

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Mastercard announced that it is partnering with Network International, the  enabler of digital commerce across the Middle East and Africa, to address fraud, declines and chargebacks in order to reduce costs and risk for acquirers. Through the partnership, Network will launch Mastercard’s Brighterion Artificial Intelligence (AI) technology across the region, providing transaction fraud screening and merchant monitoring to acquirers and businesses.

According to the Nilson Report, payment card fraud losses are projected to hit USD49 billion by 2030. Furthermore, 68% of card fraud losses in 2020 were related to transactions where cards were not physically present. McKinsey estimates that AI technologies could potentially deliver up to USD1 trillion of additional value each year. With its sophisticated Artificial Intelligence, Brighterion learns the warning signs of fraud and alerts acquirers and merchants in real-time to prevent the completion of fraudulent transactions and costly chargebacks.

In 2019, Mastercard made a strategic USD300 million investment as a cornerstone investor in Network, followed by an additional commitment towards developing innovative payment solutions. As part of this partnership, Mastercard supports Network via Brighterion’s AI technology, which combats the risk of fraud, reducing the operational overhead on acquirers and merchants while improving the experience for customers.

Khalid Elgibali, Division President, Middle East and North Africa, Mastercard, said: “At Mastercard, we provide capabilities and services beyond card payments, using the latest cutting-edge technology to stay ahead of fraudsters as we secure the full payments ecosystem. Brighterion Artificial Intelligence capabilities are helping to reduce fraud and merchant risk, leading to safer transactions and a better consumer experience.”

Nandan Mer, group chief executive officer, Network International, said: “We are delighted to strengthen our partnership with Mastercard and expect to launch this revolutionary new AI technology across the region early this year. Adding Brighterion to Network’s range of solutions allows us to enhance our ability to provide financial institutions, merchants and their customers with safe, secure and seamless processing.”

 

 

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Mastercard and Network International launch new Artificial Intelligence fraud-prevention solution
UK regulation plans show crypto is mainstream, digital is future of finance https://dev.traveldailymedia.com/uk-regulation-plans-show-crypto-is-mainstream-digital-is-future-of-finance/ Tue, 07 Feb 2023 06:12:17 +0000 https://www.traveldailymedia.com/?p=770275 The post UK regulation plans show crypto is mainstream, digital is future of finance appeared first on TD (Travel Daily Media) Brand TD.

The UK’S plans to “robustly” regulate the cryptocurrency industry must be championed and highlight that “digital is the future of finance”, says the CEO of one of the world’s largest independent financial advisory, asset management and fintech organisations

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The UK’S plans to “robustly” regulate the cryptocurrency industry must be championed and highlight that “digital is the future of finance”, says the CEO of one of the world’s largest independent financial advisory, asset management and fintech organisations.

The comments from Nigel Green of deVere Group comes as the UK government plans to bring the cryptocurrency sector under the umbrella of mainstream financial services regulation. The Treasury said late on Tuesday it would unveil a series of proposals to “regulate a broad suite of cryptoasset activities, consistent with its approach to traditional finance.”

It will also temporarily backtrack on a previous vow to align the regulation of crypto promotions with the regulations applied to stocks, shares and insurance products. The deVere Group CEO notes: “The UK’s decision to regulate crypto must be championed as digital currencies, including Bitcoin, are set to play an ever greater role in the domestic and international financial system, and they should be held to the same standards as the rest of the system.

“The news that digital currencies are being brought into the regulatory tent in one of the world’s largest economies and most highly-regulated markets shows that crypto is now mainstream. It has come of age.

“A strong regulatory framework will help protect investors, tackle criminality, and reduce the potential possibility of disrupting financial stability.” He continues: “It also offers a potential long-term economic boost to the UK as digital is the inevitable future of finance.

“This move will help further position Britain as a global hub for crypto, and fintech more generally. “It will help attract the businesses of tomorrow – and the jobs they create – in the UK, as effective regulation gives them the confidence they need to think and invest long-term.

“We also expect this development comes as the government has expressed interest in launching its own ‘Britcoin’, or central bank-backed digital currency (CBDC).” This news will further strengthen the case for cryptocurrencies and is likely to have a positive impact on prices of the major digital tokens, says Nigel Green.

“The move to regulate illustrates that retail and institutional investors are increasingly aware of the inherent characteristics of cryptocurrencies like Bitcoin which has the core values of being digital, global, borderless, decentralized and tamper-proof.”

According to the results of a study by deVere Group, 82% of high net worth clients, with between £1m and £5m of investable assets, sought advice on cryptocurrencies. “Wealthy investors, a typically conservative cohort, also understand that digital currencies are the future of money, and they don’t want to be left in the past.”

The deVere CEO believes that this momentum of interest is set to build further as the bear market, or so-called ‘crypto winter’, of 2022 is thawing. “Bitcoin is on track for its best January since 2013 based on hopes that inflation has peaked, monetary policies become more favourable, and the various crypto-sector crises including high-profile bankruptcies are now in the rear-view mirror,” he says.

“The world’s largest cryptocurrency is up over 40% since the turn of the year and this will not go unnoticed by investors and others who want to build wealth for the future.” He concludes:  “Regulation will further shore up the crypto sector and further instil trust and confidence for investors. This will have a beneficial impact on the price trajectory long-term.”

 

 

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Travelex launches a new product in the UK https://dev.traveldailymedia.com/travelex-launches-a-new-product-in-the-uk/ Tue, 07 Feb 2023 06:06:41 +0000 https://www.traveldailymedia.com/?p=770273 The post Travelex launches a new product in the UK appeared first on TD (Travel Daily Media) Brand TD.

Travelex, a foreign exchange brand, has launched a new product allowing customers in the UK to secure their exchange rates and ensuring they receive Travelex’s best exchange rates ahead of their holiday.

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Travelex, a foreign exchange brand, has launched a new product allowing customers in the UK to secure their exchange rates and ensuring they receive Travelex’s best exchange rates ahead of their holiday. This innovative new product enables foreign exchange to be pre-ordered at the point of booking, creating a valuable additional revenue stream within airline and online travel agents’ bookings flows.

For a small fee, customers who pre-order their currency for trips that will take place between April and December 2023, are guaranteed not to lose out if the exchange rate worsens before their departure date. By fixing the rate, customers can have peace of mind that if rates become less favourable, they will still receive the rate they secured at the time of pre-ordering. If the rate improves, customers will receive the better rate, a win-win!

Richard Wazacz, CEO, Travelex said: “We’re hugely excited to be launching our new exchange rate service, which will reassure our customers that they are securing the best Travelex rate possible, even if rates move post-purchase. We are constantly striving to make exchanging currency as convenient and stress-free for our customers as possible, and we hope this product will add further piece-of-mind.

“This product represents a new, innovative, digital-led way of doing things at Travelex, and I’m extremely proud of the team who have managed to build everything from the ground up in just a few short months. We are excited about driving further innovation within the FX space and will build on what we learn through this product in the following weeks and months.”

The service gives customers the confidence and convenience of knowing that they have protected the value of their holiday money before they travel, and that Travelex will get their currency to them effort-free via home delivery.

Travelex ran an Alpha phase pilot of this product, offering a small number of customers the option to pre-order US Dollars, Euros, Australian Dollars, Canadian Dollars and UAE Dirhams, with more currencies to be added to the service in the future. The product forms part of a new, more innovative, digital-led strategy for Travelex, giving customers even more convenient travel money options. To enable this launch, Travelex has collaborated closely with HedgeFlows, a UK based fintech partner that also cares deeply about helping people navigate the volatile world of foreign exchange rates with confidence.

At the start of the year, Travelex relaunched their Travel Money Card app in partnership with KAYAK, enabling customers to order a Travelex Money Card or cash, manage their card, and search for flights, stays and rental cars through the app. Late last year the company also launched the retail FX industry’s first ATM click & collect service in the UK and Australia. The company has also been increasing investment into ‘digital first’ airport experiences, including self-service stores and ATMs, across their international store portfolio.

Travelex is now actively exploring partnership opportunities with online travel agents and airlines, to incorporate this product into their booking journeys and customer offering, enabling the opportunity for an additional revenue stream.

 

 

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Industry reflections to the Indian Union Budget 2023-2024 https://dev.traveldailymedia.com/industry-reaction-to-the-indian-union-budget-2023-2024/ Thu, 02 Feb 2023 09:26:35 +0000 https://www.traveldailymedia.com/?p=769366 The post Industry reflections to the Indian Union Budget 2023-2024 appeared first on TD (Travel Daily Media) Brand TD.

Finance Minister Nirmala Sitharaman said that there is a huge potential in the tourism sector which holds huge opportunities for jobs and entrepreneurship for the youth.

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Finance Minister Nirmala Sitharaman said that there is a huge potential in the tourism sector which holds huge opportunities for jobs and entrepreneurship for the youth. We have collated for you below, few reactions to the Union Budget 2023-2024 from the travel trade and hospitality industry.

Unfair advantage to foreign OTAs
Rajesh Magow, Co-Founder and Group CEO of MakeMyTrip stated: “It is noteworthy that the FM has highlighted tourism as a focus area. The union budget entails multiple welcome initiatives like the revival of 50 airports, the building of 50 new destinations, and high budgetary outlays on railways, roads, and highways, which will help long-term growth for the domestic travel and tourism industry.

However, one budget proposal that will negatively impact the industry is the move to increase the TCS mandate from 5% to 20% on overseas tour packages. This will not only increase the upfront cash outflow for customers but will also give an unfair advantage to foreign-based online travel booking platforms over India-based travel agents and tour operators.”

Rajesh Magow

Tourism gets prime focus
Krishna Rathi, Country Director India at Agoda states: “It has been heartening to see tourism get prime focus in today’s Union Budget, the government’s vision and initiatives are a welcome boost to help widespread growth. At Agoda we use our technology to connect our Indian hotel partners to millions of international and domestic tourists to promote local travel. We look forward to exploring ways to further positively impact travel and tourism in the country.”

Krishna Rathi

Develop 50 destinations for domestic and international tourists
Sarbendra Sarkar, Founder & MD, Cygnett Hotels and Resorts, stated: “The Union Budget 2023-2024 presented by the Finance Minister (Nirmala Sitharaman) is a growth-oriented one aimed to help India weather the current global economic challenges. With the FM announcing plans to renew 50 additional airports, helipads, water aero drones, and advanced landing grounds, it will boost regional connectivity. Moreover, the announcement to develop 50 destinations for domestic and international tourists will also help to draw attention to the country’s tourism and hospitality sectors. The Finance Minister said that these tourist destinations will be selected through challenge mode. The impetus on Dekho Apna Desh will provide a further boost to the growth of domestic tourism in the country. The FM also highlighted that states will be encouraged to set up a “Unity Mall” in the capital city or most popular tourist destination for the promotion of the ‘One District, One product’ theme. Such initiatives will also help unleash the potential taped in the tourism sector.”

Sarbendra Sarkar

Ritesh Agarwal, Founder & Group CEO, OYO stated: “The budget presented by  Finance Minister Nirmala Sitharaman offers a roadmap for the holistic development of the nation, as we enter ‘Amrit Kaal’. It sets India up as the Startup Nation for the decade.

Increment in the capital investment by 33% in infrastructure and Urban Infrastructure Development Fund (UIDF) will have a multiplier effect. Announcing a capital outlay of INR 2.40 lakh crore for the railway sector, addition of 50 airports, heliports, water aerodromes, and advanced landing grounds will further provide impetus to overall infrastructure, leading to improved connectivity across the country and enhancing domestic travel and tourism.It is heartening to see the extra emphasis given to tourism this year. The FM has identified tourism as one of the key sectors, with huge potential to generate employment for the youth, and reiterated government’s commitment to promote tourism on ‘mission mode’.”

Ritesh Agarwal

‘Unity Malls’ to be set up
He added, “We welcome the move to develop 50 cities across India as a complete package for domestic and international tourism, and developing an app to ensure all the key metrics related to travel and tourism for the said cities are regularly updated. We also laud the move to incentivise states to set up ‘Unity Malls’ in their most popular tourism destination for promotion of GI, ‘Made in India’ products and handicrafts. Integrated development of theme-based tourism circuit under the ‘Swadesh Darshan Scheme’, with special focus on improving infrastructure and amenities in border villages will provide a much-needed boost to rural and agriculture tourism. This will empower the farmers in building and setting up homestays that provide an additional source of income for them while also providing an authentic Indian experience to the travellers. OYO’s homestay projects in Ektanagar and J&K, in collaboration with respective state governments, have already yielded great results and helped boost tourism and overall economy in these villages.”

Sandeep Arora

Border village tourism initiative
Sandeep Arora, Director of Brightsun Travel India said: “Indian economy is expected to increase by 7% in the year 2023 and tourism is one of the major areas that contributes to it. Development of tourist infrastructure is the need of the hour so the announcement that 50 tourist destinations will be developed for domestic and international tourism is a positive step. Plus, the border village tourism initiative will bring tourists to these far corners helping the local communities earn livelihood and prosper. This year’s budget also saw the highest-ever capital outlay of 2.5 crore for the railways which may provide the push needed for the growth of domestic tourism in the country. Air travel is also expected to rise. Specific focus is needed for the tourism industry to rebound back to pre-pandemic levels and we hope that these initiatives will provide much awaited-relief to the Indian tourism sector.”

Kulbhushan Talwar

Boost to the employment opportunities
Kulbhushan Talwar, Cluster General Manager, Mosaic Hotels said: “We welcome the announcement made by FM to develop 50 tourist destinations in the country as a whole package to encourage both domestic and international tourism. As this step includes the development of destination in terms of transport connectivity, virtual connectivity, tourist guides, tourist security and high standard food joints, it will definitely boost the employment opportunities generated collectively by hotels, F&B players, tour and travel agencies, OTA etc. Also, the government’s plan to launch the ‘Dekho Apna Desh’ initiative will motivate people, especially young tourists to travel within India. The initiative will further strengthen the hospitality, travel and tourism sector to rebound rapidly and compensate for the losses that occur due to the pandemic.Overall, Union Budget 2023 was balanced and I expect the direct tax recommendations will empower the middle class to spend the money on lifestyle and travel.”

Pushpendra Bansal

App for real time information of tourist destinations
Pushpendra Bansal COO Lords Hotels and Resorts states: “Finance minister decision to take tourism on a mission mode in Budget 2023 with active participation of states, convergence of government programs and public-private partnerships is a great move.An app which will provide a real time information of tourist destinations in addition to aspects such as physical connectivity, virtual connectivity, tourist guides, food streets and tourists’ security will surely enhance tourist experience. 50 destinations to be developed as a complete tourist package will promote domestic as well as foreign tourism.”

 

 

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Union,Budget,Printed,On,New,Indian,Currency,Notes Rajesh Magow Cofounder and Group CEO Krishna Rathi New SARBENDRA SARKAR Ritesh Agarwal, Founder & Group CEO, OYO Sandeep Arora, Director of Brightsun Travel India (1) WhatsApp Image 2023-01-31 at 10.37.59 AM Pushpendra Bansal
Alipay and AlipayHK cross-border transactions rebound https://dev.traveldailymedia.com/alipay-and-alipayhk-cross-border-transactions-rebound/ Wed, 01 Feb 2023 08:31:49 +0000 https://www.traveldailymedia.com/?p=768813 The post Alipay and AlipayHK cross-border transactions rebound appeared first on TD (Travel Daily Media) Brand TD.

China’s outbound and inbound travels showed fast and resilient rebounds during the recent long holiday to commence the year of the Rabbit, as witnessed by strong growth of popular cross-border digital payments.

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China’s outbound and inbound travels showed fast and resilient rebounds during the recent long holiday to commence the year of the Rabbit, as witnessed by strong growth of popular cross-border digital payments.

Between January 21 and 26, the year-on-year growth of outbound transaction volumes by Alipay users has surged by 150%, with the Hong Kong and Macao S.A.R.s being the most popular destinations for mainland consumers, based on the number of transactions during this Chinese New Year period.

Specifically, the number of transactions through Alipay from Chinese mainland tourists to Macao increased by 100%, while that from Chinese mainland tourists to Hong Kong increased by nearly 70%. Alipay currently serves more than 1 billion users and has transformed from a trusted payment tool to a digital open platform over the years.

Besides Hong Kong and Macao, Southeast Asian countries have reclaimed their importance as one of the most popular destinations for outbound Chinese mainland travelers. The top five Southeast Asian markets with the highest transaction volume by Alipay users during the first six days of the holiday were Thailand, Malaysia, Singapore, the Philippines and Cambodia.

Japan is one of the top five destinations for Alipay users during the period, along with Hong Kong, Macao, Thailand, and Malaysia. The most Alipay cross-border payments took place with merchants such as street vendors and convenience stores, and the highest average spending was seen at duty-free shops across various markets.

On January 8, China announced its first steps to reduce travel restrictions between the mainland and Hong Kong, lifting quarantine requirements that were in place for almost three years. The Chinese New Year public holiday witnessed a surge in cross-border travel between the mainland and overseas markets as mainland consumers resumed overseas travel and travelers from Hong Kong and Macao piled back to the mainland, mostly for family reunions or leisure activities.

AlipayHK, the most popular e-wallet in Hong Kong, with 3.3 million active users, saw transactions in the mainland and Macao jump 18 times from January 21 to 24, compared to the same period last year. The number of AlipayHK users that completed a transaction in the mainland and Macao also soared 15 times year-on-year in the same period.

Both Alipay and AlipayHK are e-wallet partners of Alipay+, an Ant Group-owned provider of global cross-border digital payment and marketing solutions, which connects merchants with multiple e-wallets and payment methods.

Currently, Alipay+ has over 15 mobile payment partners globally. Consumers can conveniently use their preferred local payment methods while transacting seamlessly in different market and be able to enjoy marketing offers by merchants through Alipay+.

 

 

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Chinese tourists use Alipay for payment in Thailand
Blockchain technology revolutionizes the travel sector https://dev.traveldailymedia.com/blockchain-technology-revolutionizes-the-travel-sector/ Tue, 31 Jan 2023 01:45:24 +0000 https://www.traveldailymedia.com/?p=767958 The post Blockchain technology revolutionizes the travel sector appeared first on TD (Travel Daily Media) Brand TD.

Spanish technology consultancy, Hiberus, along with Swiss based travel tech pioneer, Chain4Travel, are together working on an exciting new project to offer intelligent travel insurance policies through the innovative Camino blockchain.

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Picture (from left to right): Raúl Gérez (Blockchain Manager Híberus Tecnología) / Manuel López (CEO Intermundial) / Jhon Ruiz (Business Development Manager Americas, Chain4Travel)

Spanish technology consultancy, Hiberus, along with Swiss based travel tech pioneer, Chain4Travel, are together working on an exciting new project to offer intelligent travel insurance policies through the innovative Camino blockchain. This initiative is carried out for Intermundial, an insurance firm specialized in the tourism sector. The use of blockchain technology has significantly changed the way data is used and stored and while this new technology is filtering into the travel sector it creates opportunities to develop a wide range of innovative applications and functionalities.

The goal of this project is to increase the efficiency, security, and confidence of the travel insurance contracting process on some sales interfaces of Intermundial. “Our team is installing a validator node on the Camino blockchain through which we will have an active role in the new distribution network”, explained Raúl Gérez, Blockchain Manager at Hiberus. As soon as intelligent insurance policies through Camino blockchain become available, users will be able to take out travel insurance through the Intermundial website. The system will create an NFT of the insurance policy contracted and it will be transferred synchronously to the client’s wallet. “The introduction of NFT policies will be a complementary mechanism to the existing one. It does not replace it, the use of a wallet will always be optional”, added Gérez.

Chain4Travel is pursuing the set-up of the global blockchain-based ecosystem, Camino, a stable and secure trading network for B2B, B2C and even direct to consumer (D2C) travel products. Partners offering services for the travel industry are invited to create and develop solutions based on this state-of-the-art blockchain technology.

Ralf Usbeck, CEO at Chain4Travel, explained: “This first use case of Intermundial focussing on the provision of travel insurance is a perfect example of making use of blockchain technology and its benefits. The process is based on smart contracts in form of NFTs created by Hiberus and presents an immense gain in efficiency across the insurance landscape.”

The application of blockchain technology to travel insurance policies will, for example, automate the accidental loss and compensation process. “If a flight is cancelled or delayed, this new smart system will automatically pay the customer the corresponding amount of insurance money according to the insurance policy contracted – without making any kind of process or request form necessary”, revealed Manuel López, CEO at Intermundial. “In this way, we can sell our travel insurance policies in a safe and controlled digital environment and, at the same time, we can improve the customer experience by the automation of compensation management,” he continued.

Besides this blockchain project, Hiberus will continue to work on incorporating their technology into other applications across the travel sector, such as combined travel contracts, payments between different intermediaries, vouchers for all kind of services, and much more. “In 2024, we expect to have 40 professionals specialized in blockchain technology to help our customers in this journey”, said Gérez. “Our purpose is to add the Camino blockchain in our platform for tour operators Travel One Inventory,” he concluded.

The exhibition of the project in FITUR
Last Friday, 20th January 2023, this compelling blockchain project was presented at FITUR (Feria Internacional de Turismo / International Tourism Fair). Under the heading “Smart insurance policies on Camino blockchain” Jhon Ruiz, Chain4Travel Business Development Manager for Americas; Raúl Gérez, Blockchain Manager at Hiberus and Manuel López, CEO of Intermundial, presented the project and how blockchain technology increases the efficiency and security of certain transactions in the travel sector. Jhon Ruiz concluded: “This innovative use of blockchain technology for travel insurance exemplifies how it can revolutionize the relationship between insurance providers and policyholders. Here transparency and trust are fundamental; both are automated and programmed in a shared database and smart contracts, eliminating the need for manual processes, and resulting in faster and fair payouts. It not only improves operational efficiency but also enhances the overall experience for the end consumer.”

 

 

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Industry expectations from the Indian Union Budget 2023-2024 https://dev.traveldailymedia.com/industry-expectations-from-the-indian-union-budget-2023-2024/ Tue, 31 Jan 2023 00:05:45 +0000 https://www.traveldailymedia.com/?p=767871 The post Industry expectations from the Indian Union Budget 2023-2024 appeared first on TD (Travel Daily Media) Brand TD.

Travel Daily shares quotes from hoteliers and travel facilitators about their expectations from the upcoming Union Budget.

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Finance Minister, Nirmala Sitharaman is going to present the Union Budget 2023-2024 on Wednesday, 1 Feb, the governments last full budget before the general election of 2024. Travel Daily shares quotes from hoteliers and travel facilitators about their expectations from the upcoming Union Budget.

Shiv Bose

Offer incentives to entrepreneurs
Shiv Bose, General Manager, DoubleTree by Hilton Goa – Panaji stated: “I would expect the government to extend overtures to this industry by not raising tax brackets and offering incentives to entrepreneurs with sizeable aspirations towards creating jobs in this field. Furthermore, a reduction in the taxation towards the study of hospitality and related fields will serve as a boon for the youth to take up hospitality as a career”.

 

Tejus Jose

Equitable tax policies
Tejus Jose, General Manager, Hilton Bangalore Embassy GolfLinks feels: “The tourism and travel industry is anticipating the upcoming budget allocations with respect to the decision, as proposed reforms that will have a notable influence in the coming year are planned. Last two years the pandemic has had a major impact on businesses, and businesses are capable of providing microfinance services, tax exemptions, and other remuneration to help the industry reconstruct.

One of the vital obligations of the economy’s hospitality and travel sectors is the execution of more equitable tax policies. Additionally, many in the industry are attempting to obtain financial assistance for marketing or advertising efforts to help initiate tourism, along with increased infrastructure improvement to boost the overall consumer experience.”

Mahema Bhutia

Boost Safari Tourism
 Mahema Bhutia, Head of Sales and Marketing at Aramness added:”After two long years of slow movement this year should be the golden year full of opportunities for tourism and hospitality. The Government should go full throttle to promote tourism under Incredible India banner, since 2023 marks a remarkable year for our country as we undertake the G20 Presidency.

With distinctive wildlife offerings like the Aramness Gir, we are hopeful that the Indian Government will boost Safari Tourism and this will reflect well on the wildlife tourism products which need more attention.”.

Abhishek Pani

Reduction of GST on hotels
Abhishek Pani, Hotel Manager, Novotel Vijayawada Varun states: “The last two years for the hospitality industry were all about undergoing challenges and getting back stronger with the recently resumed tourism and travel bookings. As a hotelier, I am hopeful that the 2023 budget will include favorable policy announcements for this key sector which will initially aid a speedy recovery in tandem with the longer growth and development of hotels.

I am expecting that there will be a GST rationalisation with a reduction of GST on hotels from the prevalent 18% to 12% as well as reducing the rate of GST on restaurants located in hotels to 12%.”

Kush Kapoor

Full on infrastructure status
Kush Kapoor, CEO, Roseate Hotels & Resorts says: “A full-blown infrastructure status for the hotel sector and further rationalisation of the Goods and Services Tax (GST) and a Central single window clearance for hotel projects are some of the major  expectations from the Budget 2023.

The GST Council in 2019  green-lighted reduction in the rates on the hotel tariffs. The rooms with the tariff of Rs 7,500 and above attract a GST of 18 per cent instead of 28 per cent. The rooms with tariff between INR 1,001 and INR 7, 500 are taxed at 12 per cent. An 18 per cent GST is still high in this competitive scenario, it would have been better if it was revised to 12 per cent for the rooms with the tariff of Rs 7,500 and above. The industry has been clamouring for infrastructure status for decades. The status will enable hotel projects have easy access to cheaper debt that is at par with projects in other industries. A reduced capital cost will have a bearing on both timely completion of projects and their overall financial health.

Lastly, in a bid to fast-track investments, it is recommended to reduce the total number of licenses required to establish a centralised approval system for most common approvals, licenses & permits on an E- approvals basis. These should be granted within a pre-defined time frame or deemed to be approved.”

Amit Dutta

Decrease GST on by-the-seat helicopter services
Amit Dutta, Managing Director, BLADE India added: “Urban Air Mobility is all about leveraging the sky for covering short haul distances using a vertical take-off and landing aircraft such as helicopters and eVTOLs. The main benefits of these services are last-mile connectivity, accessibility, and time savings due to reduced road engagement. We strongly feel that the Government of India should decrease the GST (goods and services tax) on by-the-seat helicopter services, which currently stands at 18% compared to airline GST of 5% on economy class, to make these services more accessible and affordable for the public. Our Helicopter services from near the airport in Bangalore to the city center cost 4,000/- which would further be more accessible to a broader section of the society with a lower GST rate.”

 

 

 

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Infinity Pool at DoubleTree by Hilton Goa – Panaji Profile Image – Shiv Bose, General Manager, DoubleTree by Hilton Goa – Panaji Tejus Hose, General Manager, Hilton Bangalore Embassy GolfLinks Profile image – Mahema Bhutia, Head of Sales and Marketing at Aramness Profile Image – Abhishek Pani, Hotel Manager, Novotel Vijayawada Varun Mr Kush Kapoor Amit Dutta, Managing Director (BLADE India)
Mastercard joins forces with ZoodPay https://dev.traveldailymedia.com/mastercard-joins-forces-with-zoodpay/ Mon, 30 Jan 2023 03:26:43 +0000 https://www.traveldailymedia.com/?p=767435 The post Mastercard joins forces with ZoodPay appeared first on TD (Travel Daily Media) Brand TD.

ZoodPay, a digital lending platform for e-commerce in the Middle East and Central Asia, has entered into a strategic partnership with Mastercard to launch the first-of-its-kind prepaid virtual installment card in the Eastern Europe, Middle East, and Africa (EEMEA) region.

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ZoodPay, a digital lending platform for e-commerce in the Middle East and Central Asia, has entered into a strategic partnership with Mastercard to launch the first-of-its-kind prepaid virtual installment card in the Eastern Europe, Middle East, and Africa (EEMEA) region. This collaboration will expand financial and digital inclusion, benefiting the underbanked population and those with no credit data or limited access to finance.

The introduction of the virtual installment card will allow ZoodPay to scale its offerings and provide Buy-Now-Pay-Later (BNPL) solutions to customers and merchants anytime and anywhere without being restricted exclusively to the ZoodPay network.

The offering will be available to consumers and small and medium-sized enterprises (SMEs) across multiple geographies. Zoodpay will make its SMEs ecosystem available to Mastercard’s merchants, facilitating end-to-end digitization. This ecosystem will span product onboarding, fulfillment, last-mile delivery, and distribution channels, including ZoodPay’s own marketplace as well as other online platforms.

Mastercard will supplement this by providing access to its wide network of merchants, innovative payment methods, and state-of-the-art technical infrastructure for enablement and scalability. This partnership can serve up to 300 million people, including 5 million SMEs and 4,000 merchants, providing BNPL options for consumers and loans for SMEs.

Amnah Ajmal, executive vice president, Market Development at Mastercard EEMEA, said: “Consumers and merchants want choice and safety when it comes to payments. By partnering with ZoodPay, we are leveraging our technology to enable these payments in a digitally secure way.”

ZoodPay has 4,000 online and offline merchants with a proprietary marketplace, which is used by over 10 million people. Michael Khoi, CEO of ZoodPay, said: “Our partnership with Mastercard will go a long way in shaping the future of digital payments across emerging markets. We are looking forward to the launch of a holistic suite of fintech services for consumers, merchants, micro and small and medium enterprises, helping the unbanked population access the financial ecosystem.”

According to Juniper Research, BNPL services will account for more than 24% of global e-commerce transactions for physical goods by value by 2026, up from 9% in 2021. The number of global installment users will more than quadruple to 1.5 billion in 2026 from 340 million in 2021.

 

 

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Mastercard partners with EazyPay https://dev.traveldailymedia.com/mastercard-partners-with-eazypay/ Fri, 27 Jan 2023 02:30:50 +0000 https://www.traveldailymedia.com/?p=766838 The post Mastercard partners with EazyPay appeared first on TD (Travel Daily Media) Brand TD.

Mastercard, a technology leader in the global payments industry, has partnered with Bahrain’s leading fintech and payment service provider Eazy Financial Services (EazyPay) that will now be powered by Mastercard Payment Gateway Services (MPGS).

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Mastercard, a technology leader in the global payments industry, has partnered with Bahrain’s leading fintech and payment service provider Eazy Financial Services (EazyPay) that will now be powered by Mastercard Payment Gateway Services (MPGS). MPGS is a trusted platform that provides financial institutions with a white-label technology for payment processing and fraud prevention. As one of the largest gateways in the region that is utilized by many players in the financial ecosystem, it enables its partners to accept a wide range of digital transactions easily and securely, including all leading card brands and other non-card payment methods.

“Mastercard works to co-create a new reality for the digital payments ecosystem,” said Maria Medvedeva, country business manager, Saudi Arabia and Bahrain, Mastercard. “We are delighted to expand the reach of our innovative MPGS technology in Bahrain, in collaboration with EazyPay, to support the GCC nation’s rapidly growing e-commerce industry and ambitious digital transformation strategy. The move strengthens Mastercard’s presence and expands digital payment acceptance in the country.”

Companies in Bahrain’s dynamic fintech space play a vital role in cascading access to solutions that can aid digital transformation in the SME sector, which contributes around 30% of Bahrain’s gross domestic product (GDP). In line with its Economic Vision 2030, the country has also invested in frameworks that seek to develop a robust entrepreneurship ecosystem. Mastercard has committed to driving sustainable growth and inclusion of small businesses across the landscape, and its fintech partnerships are delivering experience-centric, innovative solutions across the financial services ecosystem.

“Our aim is to add value, and Mastercard’s seamless MPGS technology solution gives us the opportunity to do that. We are united in our vision to make digital and e-commerce payments more seamless, smart, and swift, creating pathways to progress in new ways,” said Nayef Tawfeeq Al Alawi, founder and CEO of Eazy Financial Services.

In August 2022, Eazy made the Forbes list of top 25 fintech companies in the Middle East. In 2021, the company launched its EazyPay POS terminals, which allowed local merchants and SMEs to accept contactless payments. With 900+ merchants and 5,692 POS terminals across Bahrain, Eazy Financial helped to process transactions worth a total of $502 million in 2021 and plans to double this amount by 2023.

In addition to its growth-focused digital expertise, Mastercard has the global reach, network of partners, and local knowledge to collaborate with fintech companies at every stage of growth through the Mastercard Accelerate portfolio. The technology company partners with a variety of stakeholders, including fintech innovators, to connect 1 billion people to the digital economy by 2025, including 50 million small businesses with a direct focus on 25 million women entrepreneurs.

 

 

 

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Corporate Traveller reveals top travel perks for credit cardholders in 2023  https://dev.traveldailymedia.com/corporate-traveller-reveals-top-travel-perks-for-credit-cardholders-in-2023/ Thu, 26 Jan 2023 03:51:21 +0000 https://www.traveldailymedia.com/?p=766650 The post Corporate Traveller reveals top travel perks for credit cardholders in 2023  appeared first on TD (Travel Daily Media) Brand TD.

This year’s strong demand for domestic and international travel has also seen a resurgence in the accumulation of rewards points.

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This year’s strong demand for domestic and international travel has also seen a resurgence in the accumulation of rewards points. As the cost of living and doing business continue to increase, there are a plethora of exciting travel perks linked to rewards credit cards that might motivate business travellers to take advantage of.

Tom Walley, Global Managing Director at Corporate Traveller – Flight Centre Travel Group’s flagship travel management division for SMEs – says: “The domestic and international travel perks offered by rewards credit cards can save businesses and their travellers hundreds of dollars each year, while allowing them to get a little luxury into their trips without the cost. These perks include free flights and airport lounge access, restaurant credit and hotel rooms, travel insurance, and even concierge services.

“However, travellers should determine the offers that will be of most value to them – and crunch the numbers to work out whether these offers still provide value against sometimes higher interest rates or high annual fees.” Below, Corporate Traveller has carried out research to reveal eight perks for credit card holders looking to maximise their travel and destination experiences:

  1. Complimentary return flights. With airfares likely to remain high in 2023 before capacity returns to pre-COVID levels, some frequent flyers might be attracted to cards with offerings such as up to USD450 in travel credit with major airlines or complimentary flights each year. However, cardholders should be aware of any higher-than-average costs associated with those cards. The American Express Velocity Platinum credit card includes one free return domestic flight with Virgin Australia every year and 21.99% interest compared with the average credit card interest rate of 19.94%. The American Express Platinum charge card offers USD450 in yearly travel credit to spend on eligible flights, hotels, or car hire, and comes with a USD1,450 annual fee.
  2. Uncapped points. Many rewards cards put a cap on the points that cardholders can earn each month or year. Businesses with multiple travellers or high-spending directors, once they crunch the numbers and understand how many points they could accumulate, might consider switching to a rewards card offering uncapped points. An example is the NAB Rewards Business Signature Credit Card.Rather than linking to a frequent flyer program, however, this card earns NAB Rewards, which can be redeemed for flights online.
  3. Dining credit. Another rewards perk is credit with overseas and domestic restaurant partners, which might appeal to travellers with a tight personal budget while travelling. The American Express Platinum charge card, for instance, offers up to USD400 in restaurant credit at participating restaurants in Australia and overseas, but does come with an eye-watering USD1,450 annual fee.
  4. Earning points on taxes. Some credit cards offer points for tax payments – albeit at a lower awards rate. Businesses should weigh up the redemption value of those rewards with the credit card surcharge for tax office payments. For instance, the American Express Business Explorer card reduces its usual two points for every dollar spent offering to one point with the ATO and against a 1.45 per cent surcharge for tax office payments.
  5. Access to airport lounges. Airport lounges offer opportunities to relax or work productively while in transit, and many rewards credit cards offer access to lounges across Australia and internationally. For instance, the HSBC Star Alliance Credit Card allows members to earn points across 26 airline rewards programs, providing access to more than 1,000 airport lounges worldwide.However, cardholders earn one Star Alliance point per USD1 spent up to USD3,000 per statement period, and just 0.5 points for every USD1 spent thereafter. The Qantas Premier Titanium card offers new cardholders two complimentary Qantas First Class lounge passes at selected airports in Sydney, LA, and Melbourne annually but cardholders need to consider the USD1,200 annual fee. The American Express Velocity Platinum cardholders receive two Virgin Australia lounge passes at selected domestic airports each year but comes with 21.99% interest rate and does not allow balance transfers.
  6. Travel Insurance. Some rewards credit cards allow cardholders to save on travel insurance by offering a level of complimentary insurance. However, keep in mind there are limitations to a card’s insurance policy, and businesses should determine whether they require more comprehensive cover to ensure employees and business belongings are fully protected. For instance, ANZ Rewards Platinumcredit cardholders can access unlimited overseas emergency medical. It caps other cover at USD50 for meals and USD250 for accommodation in the event of travel delays; USD4,000 for lost, stolen or damaged computers, cameras, and video cameras; and up to USD1,000 for any other item. However, cover for rental vehicle damage is capped at USD5,000.
  7. Complimentary accommodation. High-earning travellers who frequent a preferred hotel or want to tack a personal trip onto a business trip might find value in complimentary accommodation. The Citi Prestige Credit Cardallows cardholders to get a fourth night free at a participating hotel, limited to four stays a year, keeping in mind there is a USD700 annual fee from the second year and cardholders need to have a minimum USD150,000 annual income.
  8. No-fee frequent flyer membership.Some rewards credit cards waive rewards membership fees. The HSBC Platinum Qantas Credit Card, for instance, waives the USD99.50 Qantas Frequent Flyer membership fee; however, cardholders are limited to earning 0.5 Qantas Points for every USD1 spent after spending USD1,000 in a statement period.

 

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TRAVELEX partners with KAYAK https://dev.traveldailymedia.com/travelex-partners-with-kayak/ Thu, 19 Jan 2023 08:05:29 +0000 https://www.traveldailymedia.com/?p=765405 The post TRAVELEX partners with KAYAK appeared first on TD (Travel Daily Media) Brand TD.

Travelex customers in the UK and Australia can now search for flights, stays and rental cars through the relaunched Travelex Money app. 

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Travelex customers in the UK and Australia can now search for flights, stays and rental cars through the relaunched Travelex Money app. Travelex, a foreign exchange brand, has partnered with KAYAK, the world’s leading travel search engine, to make travel planning easier. Through the partnership, Travelex customers can now search for flights, stays and rental cars within the refreshed Travelex Money app, enabling them to plan their trip and manage their funds for it, all in one place.

In addition to having a new look and feel, the app has been overhauled to offer customers far greater control and convenience than before. Through the relaunched app, customers are now able to:

  • Order a Travelex Money Card prepaid card and have it delivered to their home or for collection from a Travelex store, as well as from a Travelex partner store in Australia
  • Order foreign currency cash for delivery to their home or for collection from a Travelex store (in the UK) or to collect it from a Travelex or Travelex partner store (in Australia)
  • View Travelex Money Card transactions and purchases they have made from each of their currency wallets
  • Quickly view their remaining currency balance on their Travelex Money Card

  • Load and reload their Travelex Money Card with 15 currencies in the UK (previously only 10), or 10 currencies in Australia
  • Freeze and unfreeze their Travelex Money Card when they are not travelling, or for peace of mind when not using the card (live on Android, Apple iOS coming very soon)
  • View their pin and Travelex Money Card details if they have forgotten it, or left their card at home and need to use their details online (live on Android, Apple iOS coming very soon)
  • Search for flights, stays and rental car hire powered by Kayak

Customers are also now able to receive news and offers through push notifications, while Travelex Money Card cardholders will be able to access more than a million premium Wi-Fi hotspots via Boingo Wi-Fi from Mastercard. Customers will still have the ability to search for Travelex stores and find customer support details through the app.

Travelex Money Card cardholders can make daily ATM cash withdrawals up to £500 GBP (on a UK issued card) or $3000 AUD (on an Australian issued card) in a 24 hour period from any ATM displaying the Mastercard logo globally and will not be charged any cash withdrawal fees by Travelex (although the ATM provider may charge them fees for the withdrawal).

Travelex have also set the minimum Travelex Money Card load amount to £50 GBP currency equivalent and scrapped home delivery charges (on UK issued cards) and $100 AUD currency equivalent, and do not charge for card collections from stores (on Australian issued cards). This is designed to reduce the barriers for customers that want to purchase a Travel Money Card and incrementally load it with currency in preparation for their travels.

The relaunch of the Travelex Money app marks the latest milestone in the company’s accelerating digital transformation, with the company continuing to invest in and grow its suite of digital products, including multi-currency prepaid contactless cards, touch-and-go channels, ATM click-and-collect, crypto-enabled payments and digital remittance offerings.

Dan Gilby, strategy & products director, Travelex said: “As we relaunch our Travelex Money app, we’re delighted to have partnered with KAYAK – who have been consistently recognised as one of the leading travel tool providers for both leisure and business travellers alike.

“We know that our customers are increasingly seeking a more streamlined, digital-first travel experience, and by integrating KAYAK’s services into our relaunched Travelex Money app, we can now offer them greater convenience and choice when planning their trip than ever before.

“We continue to place an ever-growing emphasis on partner collaboration, modernising our operations and digitally transforming. Our partnership with KAYAK therefore represents an exciting new step for Travelex.”

Charlie Parker, senior manager of business development, KAYAK said: “We know Travelex customers are gearing up for their next trip, so we wanted to get in front of their audience before that trip is actually booked. By partnering with Travelex, we can offer a more seamless travel planning experience from start to finish, all in one app”

 

 

 

 

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Tradeling joins forces with Mastercard to help spur UAE’s economic growth https://dev.traveldailymedia.com/tradeling-joins-forces-with-mastercard-to-help-spur-uaes-economic-growth/ Thu, 19 Jan 2023 03:05:01 +0000 https://www.traveldailymedia.com/?p=765263 The post Tradeling joins forces with Mastercard to help spur UAE’s economic growth appeared first on TD (Travel Daily Media) Brand TD.

Tradeling, the Middle East and North Africa’s dominant e-marketplace that focuses on business-to-business (B2B) transactions, has announced a collaboration with Mastercard, a global pioneer in payment innovation and technology that connects billions of consumers, issuers, merchants, governments, and businesses

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Tradeling, the Middle East and North Africa’s dominant e-marketplace that focuses on business-to-business (B2B) transactions, has announced a collaboration with Mastercard, a global pioneer in payment innovation and technology that connects billions of consumers, issuers, merchants, governments, and businesses. The new collaboration will offer several benefits to Small and Medium Enterprises (SMEs) in the United Arab Emirates (UAE) and deepen access to the digital economy.

E-commerce in the UAE is projected to reach $27 billion this year, partially fueled by the exponential growth of SMEs. The collaboration between Tradeling and Mastercard reinforces both organizations’ commitment to the UAE as it empowers SMEs to further fuel the market’s economic progress and ambitions.

Customers will be able to buy on Tradeling’s platform and receive a 5% discount on all products. This offer can be availed via payment with eligible Mastercard SME or Business debit, credit, or prepaid cards in the UAE for the first time. Additionally, SMEs will be able to access trade finance by leveraging both companies’ advanced platform designs to overcome hurdles that are commonly faced by B2B buyers and sellers.

Marius Ciavola, chief executive officer at Tradelingcommented on this: “E-commerce in MENA has seen accelerated progress since 2020 with over 200 million consumers shifting to online shopping. This unprecedented growth has been achieved at a faster pace than anywhere else in the world. Our newly formed partnership with Mastercard ensures that the trajectory of e-commerce in the region continues. Globally, SMEs are widely recognized for their role in fostering the sustainable development of nations through the creation of jobs, provision of public goods and services, poverty alleviation, and reducing inequality. We are accordingly thrilled to collaborate with Mastercard to help facilitate such actions and hopeful to eventually scale beyond the region.”

Gina Petersen, VP and country business development lead for the UAE & Oman, Mastercard said: “We are delighted to partner with Tradeling as we advance our efforts to strengthen the UAE’s vibrant SME sector. SMEs have a significant impact on economies, providing a livelihood for many while advancing financial inclusion, reducing poverty, and boosting prosperity. The more digital doors we can open for small businesses, the more we can future-proof the growth of the industry.”

Tradeling is continually striving to satisfy clients by expanding its offering. This mindset has allowed the dominant MENA e-marketplace to be the primary search and sourcing tool for business buyers across the region for more than two years. The collaboration with Mastercard marks a significant milestone. Upon the success of this initiative, both parties will look to grow their collaboration to encompass additional regions across the world.

Mastercard has pledged $250 million and committed to connecting 50 million micro, small and medium-sized businesses globally to the digital economy by 2025 using its technology, network, expertise, and resources in support of the company’s goal of building a more sustainable and inclusive digital economy. As part of these efforts, Mastercard is focused on connecting 25 million women entrepreneurs.

 

 

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SUNRATE enhances its online travel solution with new virtual corporate card https://dev.traveldailymedia.com/sunrate-enhances-its-online-travel-solution-with-new-virtual-corporate-card/ Fri, 06 Jan 2023 03:08:45 +0000 https://www.traveldailymedia.com/?p=761928 The post SUNRATE enhances its online travel solution with new virtual corporate card appeared first on TD (Travel Daily Media) Brand TD.

Global Fintech SUNRATE has partnered with Visa, a world leader in digital payments, to launch virtual corporate cards as part of its plans to bolster its online travel solution.

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Global Fintech SUNRATE has partnered with Visa, a world leader in digital payments, to launch virtual corporate cards as part of its plans to bolster its online travel solution. SUNRATE’s travel stakeholders can now have another seamless and efficient option when making payments to their own partners, such as airlines and hotels, on virtual corporate cards. Towards the end of last year, SUNRATE also announced a strategic partnership with the global digital travel platform, Agoda. In 2021, SUNRATE became a principal member of the Visa network

Revolutionising travel payments with virtual corporate cards
SUNRATE believes that the issuance of virtual corporate cards is revolutionising travel payments. For example, any online travel agency can now easily set spend limits, define usage, and choose the vendor using a virtual card. SUNRATE’s travel partners have entire control over how spending are allocated and tracked. One major feature of the virtual card is security. Technology, such as application programming interfaces (APIs) has eliminated the possibility of card information being abused when given, by providing a limited window of use for a single card. SUNRATE is certified to the international financial data security standard: Payment Card Industry Data Security Standard (PCI DSS) Level 1.

“The launch of Visa virtual corporate cards is a monumental step for SUNRATE as we cement our leadership as a one-stop B2B payment partner, especially for the travel industry. Since our partnership announcement with Agoda, we have worked with many other travel stakeholders, including other OTAs and we take pride in being able to solve their overall business needs. The Visa virtual corporate card will be a key solution for our customers and beyond” said Shawn Qin, Head of Card Business, SUNRATE.

Chavi Jafa, Vice President for Visa Business Solutions, Asia Pacific said, “Our partnership with SUNRATE is very timely given the recovery of business and leisure travel around the world. Visa is supporting fintechs like SUNRATE to introduce innovative solutions that make it easier for businesses to manage their spending and make business-to-business payments securely and seamlessly.”

 

 

 

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Oman Air partners with bespoke HSBC Oman global currency solution https://dev.traveldailymedia.com/oman-air-partners-with-bespoke-hsbc-oman-global-currency-solution/ Thu, 05 Jan 2023 02:45:45 +0000 https://www.traveldailymedia.com/?p=761812 The post Oman Air partners with bespoke HSBC Oman global currency solution appeared first on TD (Travel Daily Media) Brand TD.

Oman Air has partnered with HSBC Oman on a unique and innovative international payments process, which will dramatically increase efficiency and security.

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Oman Air has partnered with HSBC Oman on a unique and innovative international payments process, which will dramatically increase efficiency and security. Via a centralised treasury hub in Oman, HSBC’s Global Disbursement solution, developed as a bespoke service for Oman Air, will deliver simultaneous multiple currency payments and an improved track and trace function for every transaction.

The new service enables Oman Air to process foreign currency payments through a single bank account, using HSBC’s extensive global network and transparent FX rates. This reduces dependency on other third party banks, reducing the costs of processing these payment types and the hours worked in doing so. This strengthens the relationship with HSBC as Oman Air’s bank of choice for international payments.

“Oman Air continues to invest in innovative financial solutions as a crucial component of our success as a truly global airline,” said Oman Air Chief Executive Officer Eng. Abdulaziz Al Raisi.

“HSBC’s Global Disbursement solution provides us with simplicity, expediency, and security. We are confident that this partnership will enable us to achieve a more streamlined international payments procedure and ultimately, enhance our guest experience,” Eng. Abdulaziz continued.

“At HSBC Oman, we are committed to innovating in our technology to make banking easier, more accessible, and more secure for our clients. Our Global Disbursement solution is designed to simplify the cross border payment process by reducing costs, minimizing risk and improving transparency. Our Global Payments Solutions Team has a proven record of providing clients across the MENAT Region with a comprehensive suite of market leading, innovative solutions and products to help them do business every day,” said Melika Betley, CEO of HSBC Oman.

The Global Disbursement solution will introduce significant reduction in the overall working hours spent on payment creation and reconciliation, as it enables Oman Air to process multiple currency payments at the same time, provides detailed status reports and to track and trace every payment transaction.

 

 

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Want to get free flight to Japan or earn mileage? https://dev.traveldailymedia.com/want-to-get-free-flight-to-japan-or-earn-mileage/ Tue, 20 Dec 2022 06:30:15 +0000 https://www.traveldailymedia.com/?p=757665 The post Want to get free flight to Japan or earn mileage? appeared first on TD (Travel Daily Media) Brand TD.

AEON Thana Sinsap (Thailand) Public Company Limited is inviting customers to visit Japan with “Reconnect Japan with AEON Royal Orchid Plus Credit Card” campaign. Get free round-trip Thai Airways ticket from Bangkok-Japan (all Thai Airways’ Japan routes)* or earn 25,000 miles* by accumulating spending through AEON Royal Orchid Plus credit cards at merchants worldwide as specified.

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The post Want to get free flight to Japan or earn mileage? appeared first on TD (Travel Daily Media) Brand TD.

AEON Thana Sinsap (Thailand) Public Company Limited is inviting customers to visit Japan with “Reconnect Japan with AEON Royal Orchid Plus Credit Card” campaign. Get free round-trip Thai Airways ticket from Bangkok-Japan (all Thai Airways’ Japan routes)* or earn 25,000 miles* by accumulating spending through AEON Royal Orchid Plus credit cards at merchants worldwide as specified. Simply register to participate in the promotion from now to 28 February 2023.

The campaign is exclusively for AEON Royal Orchid Plus credit cardholders with an accumulated spending at merchants worldwide to receive Thai Airways ticket to 5 destinations in Japan; Tokyo, Osaka, Nagoya, Fukuoka and Sapporo. Customer will receive a complimentary business class ticket when having accumulated spending over 4,5000,000 baht.

Get economy class ticket when having accumulated spending over 2,500,000 baht (approx. USD 71,569.67)  Earn 25,000 Royal Orchid Plus mileage points when having accumulated spending from 500,000 to 2,499,999 baht (approx. USD 14,314.35- 71,571.70) . Customer receive only one of highest reward under conditions.  AEON Royal Orchid Plus credit cardholders can register via SMS by simply text JP@, followed by the last 16 digit credit card number, and send to 4221475 or AEON THAI MOBILE

 

 

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CT Partners adds TripActions as its newest member https://dev.traveldailymedia.com/ct-partners-adds-tripactions-as-its-newest-member/ Fri, 16 Dec 2022 02:45:40 +0000 https://www.traveldailymedia.com/?p=756516 The post CT Partners adds TripActions as its newest member appeared first on TD (Travel Daily Media) Brand TD.

CT Partners has finished the year on a high, with the announcement that TripActions has joined the CT Partners network this month.

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CT Partners has finished the year on a high, with the announcement that TripActions has joined the CT Partners network this month. TripActions is the all-in-one travel, corporate card, and expense management solution, providing thousands of customers around the globe with unprecedented visibility and control over spend.

TripActions most recent valuation of USD9.2 billion, and its recent  $300M funding, has accelerated global expansion with more than 3,000 employees across 60 global offices, including a team of more than 70 in Australia. TripActions acquired longstanding CT Partners member, Reed & Mackay, in May 2021.

CT Partners is the largest and most influential independently owned travel buying network in Australia and comprises 30 of the largest independent corporate travel management firms and premium leisure agencies.

Tim Gibson, GM of TripActions, APAC

“One of TripActions’ core tenets is being laser-focussed on our end users,” says Tim Gibson, GM of TripActions, APAC.  “Joining forces with CT Partners will help enhance TripActions’ Australia-based airfare pricing options, further improving our already robust air shopping experience.” CT Partners CEO Matt Masson, commented, “We’re delighted to have a business as innovative and successful as TripActions join CT Partners.

We have a strong culture built around integrity and close collaboration that delivers tangible benefits to both our members and our preferred supplier partners. TripActions is an excellent fit with our culture, and we look forward to further enabling their growth in Australia.”

“Our purpose is to ensure our members thrive and exceed in their individual business goals through tapping into our market leading buying power and industry leading expertise, with each member an equal shareholder and having an equal say in the future direction of our network.”

“The success of our members is synonymous with our success, so we remain committed to continuing to nurture their businesses and turning their strategic goals into commercial results. We do this by continuing to cement our reputation as a trusted and respected partner of choice for our customers, suppliers and those valued industry partners we choose to work with.” TripActions officially joined CT Partners from December 1, 2022.

 

 

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Mastercard brings Apple Pay to customers in Kuwait https://dev.traveldailymedia.com/mastercard-brings-apple-pay-to-customers-in-kuwait/ Thu, 15 Dec 2022 03:45:11 +0000 https://www.traveldailymedia.com/?p=756134 The post Mastercard brings Apple Pay to customers in Kuwait appeared first on TD (Travel Daily Media) Brand TD.

Mastercard  brings Apple Pay to its cardholders in Kuwait. Apple Pay is providing a safer, more secure and private way to pay that helps customers avoid handing their payment card to someone else, touching physical buttons or exchanging cash — and uses the power of iPhone to protect every transaction.

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The post Mastercard brings Apple Pay to customers in Kuwait appeared first on TD (Travel Daily Media) Brand TD.

Mastercard  brings Apple Pay to its cardholders in Kuwait. Apple Pay is providing a safer, more secure and private way to pay that helps customers avoid handing their payment card to someone else, touching physical buttons or exchanging cash — and uses the power of iPhone to protect every transaction.

Customers simply hold their iPhone or Apple Watch near a payment terminal to make a contactless payment. Every Apple Pay purchase is secure because it is authenticated with Face ID, Touch ID, or device passcode, as well as a one-time unique dynamic security code. Apple Pay is accepted in grocery stores, pharmacies, restaurants, coffee shops, online stores, and all other outlets where contactless Mastercard payments are accepted.

Erdem Çakar, country manager, Kuwait and Qatar, Mastercard, commented: “We are delighted to bring all the benefits of Apple Pay to the people Kuwait, further accelerating the market’s dynamic digital transformation journey. This launch marks the next era in convenience, security and ease for consumers and merchants alike.”

Customers can also use Apple Pay on iPhone, iPad, and Mac to make faster and more convenient purchases in apps or on the web in Safari without having to create accounts or repeatedly type in shipping and billing information. Apple Pay makes it easier to pay for food and grocery deliveries, online shopping, transportation, and parking, among other things.

Security and privacy are at the core of Apple Pay. When customers use a credit or debit card with Apple Pay, the actual card numbers are not stored on the device, nor on Apple servers. Instead, a unique Device Account Number is assigned, encrypted, and securely stored in the Secure Element, an industry-standard, certified chip designed to store the payment information safely on the device.

Apple Pay is easy to set up. On iPhone, simply open the Wallet app, tap +, and follow the steps to add Mastercard credit or debit cards. Once a customer adds a card to iPhone, Apple Watch, iPad, and Mac, they can start using Apple Pay on that device right away. Customers will continue to receive all of the rewards and benefits offered by Mastercard products.

 

 

 

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Mastercard partners with My Book Qatar https://dev.traveldailymedia.com/mastercard-partners-with-my-book-qatar/ Thu, 15 Dec 2022 03:00:40 +0000 https://www.traveldailymedia.com/?p=756123 The post Mastercard partners with My Book Qatar appeared first on TD (Travel Daily Media) Brand TD.

Mastercard has partnered with My Book Qatar to provide cardholders from across the world access to hundreds of local offers and discounts as part of its Priceless program when they visit Qatar during November and December 2022.

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Mastercard has partnered with My Book Qatar to provide cardholders from across the world access to hundreds of local offers and discounts as part of its Priceless program when they visit Qatar during November and December 2022. Through the collaboration, Mastercard’s international cardholders visiting Qatar will get complimentary access to hundreds of additional local offers and discounts across dining, cafes, fast food, theme parks, entertainment, spas, gyms, salons and more. The additional discounts and offers are provided through My Book’s ‘Discover & Save’ App.

Erdem Çakar, country manager, Qatar and Kuwait, Mastercard, said: “We are delighted to join forces with our long-term local partner, My Book Qatar, to provide exceptional offers across more than 1,000 outlets. Our Priceless program provides access to unforgettable experiences and valuable discounts wherever they may be.”

Among the offers are high-value discounts on adventure tours, dining and more at merchants located at the Pearl, Katara, Msheireb Downtown, Lusail and in popular malls. Further participating outlets include 365 Adventures, National Cruise, Discover Arabia, Alghais Diving Centre, Ronautica Middle East, Poseidon Diving Centre, Trampo Extreme, In-land Sea Tours, Adventure Room, Société Artisanal Bakery, Maki Restaurant, Rustic Loft, Sugar Café, OCA, Salt, Magnolia Bakery, Haagen Dazs, Kaldi 850 Coffee and more.

“Our team at My Book Qatar is proud to partner with Mastercard for its globally renowned Priceless proposition,” said Abdullah Soomro, CEO – My Book Qatar . “Our platform, My Book Qatar, is a ‘Discover Save’ platform that aims to help consumers discover the best of what Qatar has to offer, by providing offers and discounts across various categories of local merchants. Working in partnership with Mastercard we aim to drive discovery of Qatar-based brands and businesses among international tourists and provide great value and savings to them during their stay in the country.”

The My Book Qatar platform features location-based services that allow users to find outlets based on proximity; outlet searches based on malls such as Doha Festival City or Mall of Qatar; or by areas, such as the Pearl Qatar or West Bay. Users can also search for dining options based on cuisine and can access a calculator that reveals savings for each offer availed.

 

 

 

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IRIS announces hospitality partnership with FreedomPay https://dev.traveldailymedia.com/iris-announces-hospitality-partnership-with-freedompay/ Wed, 07 Dec 2022 04:04:27 +0000 https://www.traveldailymedia.com/?p=752854 The post IRIS announces hospitality partnership with FreedomPay appeared first on TD (Travel Daily Media) Brand TD.

IRIS has announced a strategic partnership with FreedomPay, the global leader in Next Level Commerce technology that is powering the leading hospitality brands across the globe.

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IRIS has announced a strategic partnership with FreedomPay, the global leader in Next Level Commerce technology that is powering the leading hospitality brands across the globe. Together FreedomPay and IRIS, a global leader in digital ordering for the hospitality industry, will transform the guest experience across the UK, Europe, United States and Canada as well as various regions worldwide.

Graham Rushin – VP, Sales & Marketing, IRIS comments: “Cementing our partnership with FreedomPay is a key part of our strategic growth plans and will enable IRIS to enhance our proposition even further for clients worldwide. Combining the comprehensive ordering and payment functionality from the IRIS platform with FreedomPay’s wealth of commerce expertise will enable us to continue to not only exceed client expectations but also grow our client base at a global level.”

The partnership with FreedomPay will provide guests and hotels using the IRIS hospitality platform an improved checkout experience powered by speed and security. FreedomPay’s data-driven commerce platform will enhance the level of customisation and personalisation experienced by IRIS users.

“FreedomPay is trusted by the largest hospitality brands around the world to bring connectivity and a world-class experience to their guests,” said Nate Ware, SVP Sales & Digital Development at FreedomPay. “With IRIS, we’re reshaping the guest experience through speed, security, innovation, and personalisation. Hotels and guests can trust they are receiving best-in-class service when using IRIS and FreedomPay.”

 

 

 

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Travelex completes successful turnaround with positive Q3 results https://dev.traveldailymedia.com/travelex-completes-successful-turnaround-with-positive-q3-results/ Mon, 05 Dec 2022 00:15:56 +0000 https://www.traveldailymedia.com/?p=751600 The post Travelex completes successful turnaround with positive Q3 results appeared first on TD (Travel Daily Media) Brand TD.

Travelex, a market foreign exchange brand, announces results for the third quarter of 2022, with a positive EBITDA and strong revenue growth underlining the company’s successful turnaround following the Covid-19 pandemic and company restructuring.

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Travelex, a market foreign exchange brand, announces results for the third quarter of 2022, with a positive EBITDA and strong revenue growth underlining the company’s successful turnaround following the Covid-19 pandemic and company restructuring.

In Q3 2022, the New Travelex Group generated revenues of £129.6 (approx. USD 159.30) million, £79.7(approx. USD 97.96) million higher than 2021 and 83% of 2019. Recovery vs. 2019 continues to improve with YTD now only 25% behind 2019 (compared to 30% at the end of Q2). The Group produced a positive underlying EBITDA of £17.2(approx. USD21.15) million in Q3, continuing the trend of a return to positive underlying EBITDA from Q2. Q3 was £24.3(approx. USD 29.89) million favourable to 2021 and only £3.1(approx. USD3.81) million behind 2019.

The figures follow the company’s announcement of 1,200 new international jobs being created and a series of major new contract wins and renewals across the APAC, Europe, MET, Brazil and UK regions earlier this year. These wins and renewals include the launch of a full range of bureaux and ATM services at London Stansted Airport, the UK’s fourth largest airport, signed contract renewals with two leading UK supermarkets, and new stores or contracts at Edinburgh, Glasgow, Belfast, Adelaide, Brisbane, Cairns, Frankfurt, Cologne, Zurich, Dubai, Hamad International, Singapore Changi and Kuala Lumpur airports, amongst others.

Over the last twelve months the company has also been heavily investing in new digital solutions to help diversify customers’ access to international money. This includes the launch of two new concept stores at Amsterdam Airport Schiphol featuring a hybrid self-service/manned ‘open bureau’ layout. In August 2022 Travelex launched the Foreign Exchange industry’s first ever ATM click & collect service at Heathrow Terminal 5 and Brisbane Airport, enabling customers to pre-order currency online at Travelex’s best possible rate before collecting it contact free from an airport ATM.

Travelex’s figures also come amid a strong recovery for the air travel industry, with the latest IATA passenger data for September 2022 shows that international air traffic was up 122.2% versus September 2021. International air traffic is now at 69.9% of September 2019 levels.

Richard Wazacz, Travelex CEO, said: “We are delighted to be back on a firmer financial footing, and our positive Q3 results are testament to the hard work of every member of the Travelex team – all of whom have helped drive the company forward through challenging conditions in recent times. “With travel returning and Travelex hiring more than 1,200 jobs worldwide, coupled with our increasing investment into new digital solutions, we are both optimistic for the future of the business and hugely excited to serve our customers in new ways.”

 

 

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Mastercard and Vodafone keep people connected this travel season https://dev.traveldailymedia.com/mastercard-and-vodafone-keep-people-connected-this-travel-season/ Mon, 05 Dec 2022 00:02:40 +0000 https://www.traveldailymedia.com/?p=751597 The post Mastercard and Vodafone keep people connected this travel season appeared first on TD (Travel Daily Media) Brand TD.

Mastercard and Vodafone are offering 3GB of free data for guests and residents with Qatar Fan Pack.

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Mastercard and Vodafone are offering 3GB of free data for guests and residents with Qatar Fan Pack.  As 2022 comes to a close, it brings with it the chance to celebrate the highlights of an eventful year, be it catching up on shows and movies, staying up to date with sporting passions and connecting with loved ones across the globe.

In partnership with Vodafone Qatar, Mastercard cardholders can now purchase a Vodafone Qatar Fan Pack and enjoy an additional 3GB of mobile data for free to browse, stream and download content for 14 days in Qatar.

Valid from 7 November 22 to 31 December 2022, the Vodafone Qatar Fan Pack can be easily purchased from Vodafone Stores across Qatar including the airports.

 

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Sabre, Conferma Pay and Mastercard partner for virtual cards for travel payments https://dev.traveldailymedia.com/sabre-conferma-pay-and-mastercard-partner-for-virtual-cards-for-travel-payments/ Wed, 30 Nov 2022 02:15:23 +0000 https://www.traveldailymedia.com/?p=749722 The post Sabre, Conferma Pay and Mastercard partner for virtual cards for travel payments appeared first on TD (Travel Daily Media) Brand TD.

Sabre Corporation and Conferma Pay announced a new partnership with Mastercard to accelerate the use of virtual cards for business-to-business (B2B) travel payments.

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The post Sabre, Conferma Pay and Mastercard partner for virtual cards for travel payments appeared first on TD (Travel Daily Media) Brand TD.

Sabre Corporation and Conferma Pay announced a new partnership with Mastercard to accelerate the use of virtual cards for business-to-business (B2B) travel payments.  The announcement builds on Sabre’s August 2022 acquisition of Conferma Pay.  The collaboration with Mastercard is the next step in advancing Sabre’s goal to create an open and independent travel payment ecosystem.

Digitization of travel payments with virtual cards helps address the historic challenges associated with B2B leisure and corporate travel payments.  The securely generated, single use card numbers provide a link between booking and associated payments to third party suppliers.  Travel buyers and suppliers are therefore able to easily track and reconcile payments, as well as benefit from flexible pricing, financing options, and enhanced security through card payment guarantees.

“The payments industry is in the midst of a revolution and there is an increased need for travel companies to better manage the whole payment experience,” said Roshan Mendis, Executive Vice President and Chief Commercial Officer, Sabre Travel Solutions.  “Companies in the travel space – including travel management companies, travel agencies, corporations, issuers and technology partners – need sophisticated solutions and seamless connections.  Sabre is taking strategic steps to fulfill the needs of our industry, beginning with the acquisition of Conferma Pay.  Now, the new partnership with Mastercard will help Conferma Pay to build new and enhanced digital capabilities in virtual cards, transforming the payment experience for issuers.”

As part of the agreement, Mastercard has agreed to make a minority investment in Conferma Pay, which will continue to operate independently and serve the entire travel industry and beyond.  Mastercard’s investment in Conferma Pay is subject to customary closing conditions.

“A combination of experience, technologies and capabilities will accelerate travel payment innovation and drive inclusive and sustainable growth for the sector,” said Chris Fendley, Executive Vice President, Enterprise Partnerships at Mastercard.  “Virtual cards deliver visibility, boost liquidity and increase control over B2B payment flows, which enhance payment strategies and empower organizations across the travel value chain to run, grow and protect their business, which has never been more essential.”

Conferma Pay connects issuers to more than 700 travel management companies, all the major global distribution systems and more than 100 online booking tools.  Conferma Pay is fully integrated with all the major card schemes and serves more than 50 banking partners, who issue Conferma Pay generated virtual cards in nearly 100 currencies.

“We’ve already made significant inroads in the B2B travel space through partnering with Sabre,” said Martin Cowley, interim CEO at Conferma Pay.  “We are excited about the new investments.  This, combined with our existing strong relationships, will enable Conferma Pay to build on our global footprint and be at the forefront of addressing industry challenges and opportunities.”

Sabre’s Virtual Payments will continue to offer Conferma Pay services – with increased capabilities that help travel buyers, agencies and corporations best support travel customer needs.  Sabre Virtual Payments is a unique, secure, automated and integrated end-to-end payment solution designed to simplify and add value to the transactions that TMCs, OTAs, travel agencies, corporations and travel suppliers do every day.  Sabre Virtual Payments takes all the capabilities of Conferma Pay and its network of issuers and combines it with seamless integration across Sabre products for -connected travel buyers, agencies and corporations.

 

 

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Nium unveils ‘Closed Loop’ payments alternative for airlines and OTAs https://dev.traveldailymedia.com/nium-unveils-closed-loop-payments-alternative-for-airlines-and-otas/ Thu, 24 Nov 2022 04:40:18 +0000 https://www.traveldailymedia.com/?p=747923 The post Nium unveils ‘Closed Loop’ payments alternative for airlines and OTAs appeared first on TD (Travel Daily Media) Brand TD.

Nium, the global platform for Modern Money Movement announced the launch of Nium Airline Payments (NAP), a closed-loop payments solution powered by Universal Air Travel Plan (UATP).

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Nium, the global platform for Modern Money Movement announced the launch of Nium Airline Payments (NAP), a closed-loop payments solution powered by Universal Air Travel Plan (UATP). NAP provides airlines, travel agents, and online travel agencies (OTAs) with a sustainable and equitable ‘closed loop’ payment model, which closes the door on damaging surcharges and business restricting non-acceptance policies that have inflated the cost of B2B travel payments for decades. Technology for the solution comes to Nium via its acquisition of travel payments optimisation leader, Ixaris, in 2021.

Among the first to contract with Nium for the solution include Air Europa which has tapped the global payments company to solve some of the inequities associated with traditional card payment models. Today, traditional card payments offer travel agents and OTAs financial incentives that strike at the core of an airline’s razor-thin margins.

The closed-loop Nium Airline Payments solution eliminates margin-eating intermediaries from the payment flow, giving airlines the flexibility and control to design transparent incentives for OTA partners, based on routes, seasonality, business volumes, and more.

Unlike other payment programs, Nium’s process guarantees payment acceptance for the airlines, as they are already wired to accept payments through the UATP network. Meanwhile the process is IATA Resolution 890 compliant and registered with the IATA TIP (Transparency in Payments) program.

All of this means that Air Europa can finally benefit from significantly reduced per payment cost savings, faster settlement times, and flexible incentives for sellers – all without requiring any additional technical integration.

“Without payments, there can be no sale and we are very honoured to help Air Europa resolve what has been one of the biggest airline distribution conundrums of the internet era: do I increase my distribution at the price of accepting high payment fees, or limit distribution to partners who offer better payment terms but reduce overall sales opportunities?” stated Spencer Hanlon, head of travel at Nium.

“We were very inspired by Nium’s innovative approach to create an alternative payment method, being proud to offer it to our B2B partners,” added Yago Casasnovas head of payment, fraud prevention and distribution from Air Europa. “We are communicating the availability of this new option to our travel agencies, tour operator and TMC customers and we hope that they will soon join us in taking advantage of the benefits of using it.”

Today’s news is simply the latest development in the evolution of Nium’s range of B2B payment solutions for the whole travel industry – including not just airlines but hotels, travel agents and more – offering virtual credit cards (VCCs), real-time ‘pay-in, pay-out’ in over 100 currencies to over 190 countries, and most recently crypto solutions.

 

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BR-DGE partners with Kenwood Travel https://dev.traveldailymedia.com/br-dge-partners-with-kenwood-travel/ Wed, 23 Nov 2022 10:00:57 +0000 https://www.traveldailymedia.com/?p=747789 The post BR-DGE partners with Kenwood Travel appeared first on TD (Travel Daily Media) Brand TD.

Rapidly growing payment orchestration provider BR-DGE has today announced a new partnership with UK luxury tour operator Kenwood Travel.

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Rapidly growing payment orchestration provider BR-DGE has today announced a new partnership with UK luxury tour operator Kenwood Travel. The partnership equips Kenwood Travel with the latest payment orchestration technology in order to deliver a first-class, seamless online checkout experience for customers. The luxury tour operator now has access to BR-DGE’s market-leading platform of over 300 payment and technology providers via one single integration point.

Whilst the travel sector recovers, OTAs and airlines have experienced a number of payment challenges that impact margins and company resources. Payment failure and cart abandonment rates remain high as airlines and travel providers grapple with an ever-changing and fragmented payment landscape. BR-DGE research has found that over 13.4% of online transactions in the travel, tourism, and leisure sectors fail. BR-DGE has worked with Kenwood Travel to enhance the payment journey of customers, ensuring that they receive a frictionless end-to-end luxury experience and greater choice through a range of alternative payment methods.

Through dynamic routing and connections to the entire payments ecosystem, BR-DGE’s platform reduces failed payments and supports the evolving payment needs of travel providers and their customers. Kenwood Travel will further benefit from dual acquiring which spreads the payment risk between providers, ensuring great resilience for businesses as the travel market bounces back. In addition, corporate card surcharging with innovative workflows will elevate authorisation and optimise operational costs for the luxury tour operator. For travel providers like Kenwood Travel, onboarding BR-DGE is a simple and quick process, and enables them to innovate at scale.

Commenting on the partnership, Emily Whalley, senior travel specialist at BR-DGE, said: “Kenwood Travel has a proven track record of providing a first-class holiday experience and delivering the very best the sector has to offer in luxury travel. Post-pandemic, holidaymakers and passengers are increasingly looking for greater flexibility, choice and personalisation within the customer journey and at the checkout.

“We are excited to bring our payment orchestration technology to Kenwood Travel so that they can meet this demand and deliver an end-to-end, first-class payment experience that caters to their luxury holiday clients.”

Niranjan Manivasagam, IT and operations director at Kenwood Travel, added: “Kenwood Travel is delighted to announce that we are now partnered with BR-DGE a high-end technology, offering our clients a better payment experience.”

 

 

 

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Barclays launches new credit card with Eurowings and Miles & More https://dev.traveldailymedia.com/barclays-launches-new-credit-card-with-eurowings-and-miles-more/ Sat, 19 Nov 2022 06:09:52 +0000 https://www.traveldailymedia.com/?p=746957 The post Barclays launches new credit card with Eurowings and Miles & More appeared first on TD (Travel Daily Media) Brand TD.

ith the new Eurowings Credit Card Premium, customers can not only make payments worldwide free of charge and withdraw money abroad free of charge – they also benefit from many other advantages when traveling with Eurowings.

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Barclays is launching a new premium travel credit card in cooperation with Eurowings and Miles & More. With the new Eurowings Credit Card Premium, customers can not only make payments worldwide free of charge and withdraw money abroad free of charge – they also benefit from many other advantages when traveling with Eurowings.

These include, for example, free seat reservations, free transportation of sports baggage, and the use of fast lanes at various airports. In addition to this, users earn valuable Miles & More award miles with every card transaction, which they can redeem for as few as 3,000 miles. A Eurowings award flight can be booked for as few as 9,000 miles. It was only in the summer of 2022 that Barclays connected its Eurowings credit card portfolio to the Lufthansa Group’s Miles & More loyalty program.

“This year, we have fundamentally revised our Eurowings partner cards. Thanks to Miles & More, our customers now enjoy the benefits of one of the world’s leading loyalty programs. And with the new Eurowings Credit Card Premium, we are launching a credit card that is one of the most attractive travel credit cards in Germany thanks to its excellent price/performance ratio,” says Tobias Grieß, CEO of Barclays’ European retail business.

“With the Eurowings Credit Card Premium, we are responding even more strongly to the needs of our passengers and offering additional benefits for the entire trip,” said Michael Erfert, Head of Sales, Distribution & Digital Eurowings and Managing Director Eurowings Digital GmbH. “From now on, travellers can reserve a seat on board free of charge and are optimally protected with cancellation and travel disruption insurance.”

Within the Barclays credit card portfolio, the Eurowings Credit Card Premium replaces the previous Eurowings Credit Card Gold but is significantly more extensive in its portfolio of services. Customers with the Eurowings Credit Card Premium also receive travel cancellation and disruption insurance as well as the option of free seat reservations on Eurowings flights. If they apply by 31 December 2022, new customers will also receive 5,000 Miles & More welcome miles.

For existing customers of the Eurowings Credit Card Gold, the introduction of the new Eurowings Credit Card Premium will not change anything: they will continue to use their existing card with the same benefits and features as before. If they wish to upgrade to the Eurowings Credit Card Premium, this is possible at any time.

 

 

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Mastercard introduces Samsung Wallet in Qatar https://dev.traveldailymedia.com/mastercard-introduces-samsung-wallet-in-qatar/ Thu, 10 Nov 2022 04:21:49 +0000 https://www.traveldailymedia.com/?p=742942 The post Mastercard introduces Samsung Wallet in Qatar appeared first on TD (Travel Daily Media) Brand TD.

Mastercard has announced that cardholders in Qatar can now use Samsung Wallet, a digital wallet solution that allows mobile payment services and more, to complete secure contactless payments at several online, on-site and in-store outlets around the world.

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 Mastercard has announced that cardholders in Qatar can now use Samsung Wallet, a digital wallet solution that allows mobile payment services and more, to complete secure contactless payments at several online, on-site and in-store outlets around the world.

Erdem Çakar, Country Manager, Qatar and Kuwait, Mastercard, said: “We are delighted to join forces with Samsung to introduce Samsung Wallet in Qatar, further accelerating the market’s digital transformation journey.  Mastercard’s New Payments Index found that 85% of people in MENA have used at least one emerging payment method in the last year, signaling a clear move to a more digital, more connected future.”

“Our partnership with Mastercard is a critical step for the brand as we continue expanding our outreach to consumers in the region so they may avail of next-generation payment solutions. We are currently working to maximize traffic by adding even more features to Samsung Wallet for our customers to benefit from seamless journeys, both in and out of the digital sphere. We look forward to this next step with Mastercard,” said Mandar Karkhanis, Head of MX Sales, Samsung Gulf Electronics.

Samsung Wallet is a quick, easy and secure way for users to complete payments. It will be equipped with additional features in the near future including storing sensitive documents such as IDs, electronic keys, boarding passes – with just one swipe. As Samsung continues to collaborate with a variety of trusted partners and developers, the capabilities of Samsung Wallet will continue to grow.

The Samsung Wallet platform is protected by strong hardware and Samsung’s Knox-based security technology to safely store sensitive information in device, including fingerprint recognition and encryption to make sure users’ important data are protected. It also replaces sensitive data with unique identification symbols which offers an extra layer of protection against potential digital and physical hacking attempts.

To activate Samsung Wallet, customers can download the Samsung Wallet App from Galaxy Store, log in to their Samsung account directly from Samsung Wallet App to set their PIN and fingerprint, then tap on ‘add card’ and scan or manually enter their Mastercard card number.

 

 

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Alipay+ partners with leading Asian e-Wallets to promote cashless travel in South Korea https://dev.traveldailymedia.com/alipay-asian-e-wallets-promote-cashless-travel-in-south-korea/ Wed, 28 Sep 2022 22:31:31 +0000 https://www.traveldailymedia.com/?p=728780 The post Alipay+ partners with leading Asian e-Wallets to promote cashless travel in South Korea appeared first on TD (Travel Daily Media) Brand TD.

Leading mobile payment providers across Asia has announced an integration of Alipay+ cross-border digital payment solutions in South Korea in an effort to jointly promote cashless travel in the country. Users of e-wallets including AlipayHK, GCash (the Philippines), Touch ‘n Go eWallet (Malaysia), and TrueMoney (Thailand) are able to pay at over 120,000 merchants using […]

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The post Alipay+ partners with leading Asian e-Wallets to promote cashless travel in South Korea appeared first on TD (Travel Daily Media) Brand TD.

Leading mobile payment providers across Asia has announced an integration of Alipay+ cross-border digital payment solutions in South Korea in an effort to jointly promote cashless travel in the country.

Users of e-wallets including AlipayHK, GCash (the Philippines), Touch ‘n Go eWallet (Malaysia), and TrueMoney (Thailand) are able to pay at over 120,000 merchants using their local mobile payment apps when travelling in South Korea.

The collaboration marks the first time for leading mobile payment providers from Southeast Asia and Hong Kong to extend the availability of their services in South Korea through Alipay+. The initial phase of the merchant roll-out covers major tourist activities including payments for taxi, duty-free shops, convenience stores, and food and beverage chains.

Introduced by Ant Group, Alipay+ is a suite of global cross-border digital payments and marketing solutions designed to enable businesses to process a wide range of mobile payment methods and better serve regional and global consumers through simple technical adaption.

Commenting on the collaboration, Danny Chung, General Manager of Ant Group Korea, Australia, and New Zealand, said: “It is our pleasure to connect merchants in Korea with a variety of mobile payment methods, enabling Asian tourists to pay with convenience and simplicity in Korea using their preferred home e-wallets.”

As the theme of this year’s World Tourism Day is Rethinking Tourism, Alipay+ has been striving to achieve the same goal by supporting a cashless and smart travel experience. Through innovation and digitalization, we hope Alipay+ can play its role in the transformation of tourism towards a crucial pillar of development.”

The partnership between Alipay+ and Asia’s e-wallet leaders comes as international travel across Asia continues to rebound. In early September, South Korea lifted the requirement for pre-travel Covid-19 tests for inbound travellers, following a decision to remove all quarantine requirements for foreign arrivals regardless of vaccination status.

“With South Korea being one of the most popular destinations of Filipinos, we are delighted that our customers will be able to maximize their GCash app during their travels. This collaboration with Alipay+ provides our users the convenience they need to easily transact and manage their expenses with GCash,” said Martha Sazon, President and CEO Mynt, which operates GCash, “This innovative partnership aligns with our vision of financial inclusion and is a huge step towards building a cashless ecosystem, worldwide.”

Venetia Lee, General Manager, AlipayHK and Alipay Greater China International Business, Ant Group, said, “It is our pleasure to announce the connection to South Korea, a popular tourist destination for Hong Kong people. AlipayHK aims to provide our users with one-stop lifestyle services, including not only local but also cross-border payments for those who love travelling. With AlipayHK already being accepted by the vast majority of merchants in Japan, Chinese mainland and Macao through Alipay+, we expect our service to expand to more destinations, enabling AlipayHK users to travel everywhere with one app using their own e-wallet.”

Mr. Koravut Pavitpok, Head of Commercial of TrueMoney Co., Ltd. said, “South Korea has long been one of the top tourist destinations among Thais for its fascinating history, wonderful culture and amazing food. Before the pandemic, more than half of a million of Thais travel to the country each year. And since the borders re-opened, Thai tourists have become the second highest visitors to South Korea. As international travel is on the up again, our partnership with Alipay+ has allowed TrueMoney Wallet to expand our service territory and provide more convenient and safer cross-border cashless payment to our users.”

South Korea’s long-term popularity as a destination for travel, shopping, and k-pop makes it a top choice for international tourists as travel in Asia revitalizes. According to statistics by Korea Tourism Organization, over 800,000 foreign tourists visited South Korea during the first half of this year, representing an increase of 92.8% compared to the same period last year. Tourists from ASEAN countries, including the Philippines, Thailand, and Malaysia, topped the inbound arrivals to South Korea, accounting for 30.3% of the total.

As the usage of mobile payments by international travellers and the number of travellers from Southeast Asia continues to rise, the retail industry in Korea is adopting various mobile payment methods, particularly through a partnership with Alipay+. For instance, Lotte Duty-Free and convenient store brand GS25 have signed partnership agreements with Alipay+ to make the shopping experience more convenient for international consumers.

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Consumer expectations heightened due to inflationary price hikes https://dev.traveldailymedia.com/consumer-expectations-heightened-due-inflation/ Thu, 22 Sep 2022 22:13:23 +0000 https://www.traveldailymedia.com/?p=726211 The post Consumer expectations heightened due to inflationary price hikes appeared first on TD (Travel Daily Media) Brand TD.

A survey of over 2,000 working age adults has revealed that the perceived standard of UK customer service is slipping in the wake of record inflation.  Close to half (41%) of the respondents questioned by People 1st International said that the standard of customer service they had received in the last 12-18 months had worsened. A further 37% […]

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A survey of over 2,000 working age adults has revealed that the perceived standard of UK customer service is slipping in the wake of record inflation. 

Close to half (41%) of the respondents questioned by People 1st International said that the standard of customer service they had received in the last 12-18 months had worsened.

A further 37% were ambivalent towards the standard of customer service on offer, suggesting that ‘skimpflation’ – a phenomenon whereby inflationary pressures and squeezed profit margins force firms to cut corners – is beginning to creep in.

Disinterested staff and chatbots replacing human interactions were amongst the most commonly cited complaints of respondents who thought that the standard of customer service offered by firms is in decline.

On the flipside, when quizzed about what they value most when it comes to customer service, well trained, knowledgeable and happy staff ranked head and shoulders above the rest, with 68% of respondents singling out high quality staff interactions as their number 1 must have.

In light of the forecast that UK inflation will soar to a 50-year high by the end of January next year, cost savings will no doubt be weighing heavily on many businesses’ minds, however, according to Jane Rexworthy, executive director at People 1st International, businesses need to consider their customer’s preferences first before making cutbacks.

“Entering the autumn/winter trading period, consumer-facing businesses are confronted with various economic headwinds, the likes of which we haven’t seen for decades.

“For that reason, businesses may well be forced to make stark decisions about where to rein in spending and what needs to be ringfenced.

“In times of recession, training and development budgets are often the target of cost-cutting, but failing to invest in your people can be damaging to business finances in the long-run.” continues Jane.

“Our survey is clear what UK consumers value the most: well trained, knowledgeable and happy staff. With that in mind, I urge consumer facing businesses to continue to invest in their people and carefully consider the impact of any potential cutbacks on the customer experience.”

The finding that 40% of respondents expect higher prices to be reflected in the level of service they receive underlines the importance of maintaining customer service standards adds Jane.

“With real household incomes falling, consumers look set to become more and more discerning, and the businesses best placed to thrive will be those that offer customers the greatest bang for their buck. Businesses’ will therefore need to offer best in class customer service before convincing consumers to part with their hard-earned cash.”

Despite the squeeze on disposable incomes, 43% of respondents agreed that they were willing to pay more for goods and services if they received a high level of customer service, compared to 22% that would not.

Further responding to the results of the survey Jane Rexworthy said that there is a clear incentive for businesses to maintain and even enhance customer service standards despite challenging macro-economic circumstances.

“As consumers cut back, competition hots up, meaning that businesses will need work harder to attract customers. Offering high quality customer service sets businesses apart, meaning that well-trained staff remains a key tool in a business’ arsenal. Consequently, those that continue invest in their people will fare better than their rivals in the coming months, as confirmed by this survey.”

In addition to quality of customer interactions, speedy responses to questions and queries (54%) ranked similarly highly among respondents as a hallmark of winning customer experiences. Free gifts and the opportunity to provide feedback were viewed as comparatively less important by consumers, favoured by 37% and 16% of respondents respectively.

Beyond providing an acid test for customer expectations against the backdrop of inflationary pressures, the survey is a clarion call for businesses to pay more attention to how they cater for and interact with diverse groups, such as the LGBTQ community and those with disabilities.

42% of respondents said they would spend more with a business if it provided an accessible and inclusive service. A further 48% stated that they would not return to a business if it didn’t provide an accessible and inclusive service, whilst 58% of respondents said they would recommend a business to family and friends if their customer service accessible and inclusive.

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Be covered if your trip is disrupted by heavy rainfall https://dev.traveldailymedia.com/singlife-heavy-rainfall-insurance-protection/ Wed, 31 Aug 2022 22:33:26 +0000 https://www.traveldailymedia.com/?p=717312 The post Be covered if your trip is disrupted by heavy rainfall appeared first on TD (Travel Daily Media) Brand TD.

Singlife will pay up to SGD150 to travellers whose single trip plans are disrupted by heavy rainfall. All countries and regions globally are included in the Rainfall Protection coverage, with the exception of certain countries in the Middle East and Africa. Singlife with Aviva, a homegrown financial services company, has introduced Rainfall Protection cover for […]

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Singlife will pay up to SGD150 to travellers whose single trip plans are disrupted by heavy rainfall. All countries and regions globally are included in the Rainfall Protection coverage, with the exception of certain countries in the Middle East and Africa.

Singlife with Aviva, a homegrown financial services company, has introduced Rainfall Protection cover for travellers, in partnership with Arbol Inc, a global climate risk solutions platform. Singlife is the first insurer in Singapore to offer this innovative parametric insurance product designed to help consumers manage the impact of unexpected weather conditions in an increasingly volatile environment.

Pan Jinglong, Head, General Insurance, Singlife with Aviva, said: “We are pleased to be the first insurer in Singapore offering this innovative Rainfall Protection coverage, which adds another dimension to our comprehensive and award-winning travel insurance portfolio. Singlife has taken a significant step in advancing the next generation of sustainability-centric insurance solutions, leading the way for our industry to prepare our customers for evolving climate conditions during their travels.”

This solution is underwritten in collaboration with Arbol. The company leverages cutting-edge technologies such as smart contracts and artificial intelligence underwriting so customers can look forward to a simple, transparent and competitive pricing model, as well as hassle free, contactless payments without delay.

Hong Guo, Chief Insurance Officer, Arbol, said: “We are excited for the Arbol platform to be powering the first Rainfall Protection solution in Singapore for travellers. This cutting-edge programme leverages Arbol’s industry leading pricing tools and dedicated data infrastructure to provide travellers with a novel solution for managing climate risks. We look forward to working with Singlife with Aviva together in the future to deliver more data-driven, climate resilience insurance products to meet the needs of customers and businesses globally.”

Singlife’s travel insurance policies are designed to cater to the evolving needs of the modern traveller. In May 2021, when minimum medical cover limits were imposed by certain countries, Singlife increased its limits for overseas medical expenses due to COVID-19, up to S$200,000, in addition to unlimited medical evacuation cover offered. These policies put customers at the heart of the business and provide peace of mind for any last-minute changes to their travel plans.

Singlife was recently recognised as Domestic General Insurer of the Year for its comprehensive travel insurance offering at the Insurance Asia Awards 2022.

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Thomas Cook India joins hands with Mastercard and HDFC for South East Asia holidays https://dev.traveldailymedia.com/thomas-cook-india-joins-hands-with-mastercard-and-hdfc-for-south-east-asia-holidays/ Mon, 18 Jul 2022 03:33:18 +0000 https://www.traveldailymedia.com/?p=703857 The post Thomas Cook India joins hands with Mastercard and HDFC for South East Asia holidays appeared first on TD (Travel Daily Media) Brand TD.

This campaign provides an instant discount to customers when they book their holidays to South East Asian destinations of Singapore, Malaysia, Thailand and Indonesia

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Thomas Cook (India) has partnered with Mastercard and HDFC Bank to launch a holiday campaign – #FunTasticAsia. This campaign provides an instant discount to customers when they book their holidays to South East Asian destinations of Singapore, Malaysia, Thailand and Indonesia.

The offer is exclusively available for payments made on HDFC Bank Mastercard debit or credit cards. The special offer is valid until September 12, 2022.

Easing of restrictions coupled with no visa/easy visa regime for short-haul destinations have created strong demand for South East Asia. To capitalise on this strong demand and accelerate bookings, Thomas Cook has collaborated with Mastercard and HDFC Bank to offer attractive discounts across the company’s South East Asian holidays to Singapore, Malaysia, Thailand and Indonesia. The promotion intends to target India’s families, millennials/young professionals, couples and honeymooners segments.

Exclusive offer for HDFC Bank Mastercard cardholders: INR 2,500.00 off on South East Asian (Singapore, Malaysia, Thailand and Indonesia) holiday of INR 40,00, and above per transaction with travel validity till December 2022.

Abraham Alapatt, president and country head – marketing, service quality, value added services and innovation at Thomas Cook India, said: “Post our successful collaboration with Mastercard and HDFC Bank for the Dubai Expo 2020, we are delighted to launch this exclusive promotion – #FunTasticAsia with attractive discounts for HDFC Mastercard cardholders, on holidays to very popular destinations – Singapore, Malaysia, Thailand and Indonesia. We have carefully handpicked these destinations for their popularity, short flights for easy access & hassle free online visas or visas on arrival.”

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Etihad logs in strong recovery in passenger operations for 2021 https://dev.traveldailymedia.com/etihad-airways-narrows-losses-as-middle-east-reopens/ Wed, 02 Mar 2022 03:22:16 +0000 https://www.traveldailymedia.com/?p=687232 The post Etihad logs in strong recovery in passenger operations for 2021 appeared first on TD (Travel Daily Media) Brand TD.

Etihad Airways has seen a strong recovery in passenger operations for 2021 as it reports its financial results for the year

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Etihad Airways has seen a strong recovery in passenger operations for 2021 as it reports its financial results for the year. However, the carrier still lost $476 million in 2021, an improvement on the $1.7 billion lost in 2020. The airline carried 3.5 million passengers in 2021, with an average seat load factor of 40 per cent.

Passenger loads doubled in the second half of the year, reaching 70 per cent in December as travel demand peaked during the winter holiday period. The airline recorded a particularly strong surge in passenger volumes in quarter four following the September relaxation of mandatory quarantine periods in Abu Dhabi.

Network capacity came in at 37.21 billion ASKs for the year, with the airline connecting Abu Dhabi to 71 passenger and cargo destinations across 47 countries. The airline launched or restarted operations to 13 destinations in 2021, most notably introducing scheduled services to Tel Aviv following the normalisation of relations between the UAE and Israel.

Etihad Airways posted passenger revenues of US$ 1.07 billion in 2021, down by 14 per cent year-on-year. While ongoing travel restrictions and new variants of the virus dampened demand, the airline saw passenger revenues bounce back in the last quarter of the year, recovering to 50 per cent of 2019 levels in December.

Tony Douglas, group chief executive at Etihad Group, commented: “In another year of global uncertainty, Etihad Airways has continued to move forward, strengthen its business, and build on its world-class travel proposition. As always, this has been thanks to our remarkable people who have gone above and beyond to make the most of every opportunity. Despite the slowdown caused by Omicron, we are confident that the spring and summer season will continue to see a resurgence in travel as more people return to the skies.”

As operations progressively ramped up throughout 2021, Etihad maintained an absolute focus on cost control, decreasing operating costs by a further US$110 million, despite a US$197 million increase in fuel costs driven by rallying oil prices.

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CWT launches focus of $100 million technology, innovation and product investment plans https://dev.traveldailymedia.com/cwt-launches-focus-of-100-million-technology-innovation-and-product-investment-plans/ Tue, 15 Feb 2022 03:20:57 +0000 https://www.traveldailymedia.com/?p=686205 The post CWT launches focus of $100 million technology, innovation and product investment plans appeared first on TD (Travel Daily Media) Brand TD.

CWT, the business-to-business-for-employees (B2B4E) travel management platform, announced plans for its $100 million investment in the myCWT travel management platform

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CWT, the business-to-business-for-employees (B2B4E) travel management platform, announced plans for its $100 million investment in the myCWT travel management platform and innovative product offering. The company is now moving forward with the implementation of its previously announced recapitalization plan.  Hinged around people, platform and purpose themes, the 2022 investment plans center on optimizing CWT’s digital-first proposition, achieving traveler experience excellence and providing truly integrated solutions.

The first tranche of investment is allocated towards new capabilities coming to market in the next six months as follows:

  • responsible travel initiatives helping travelers and travel managers achieve more purposeful travel and travel programs – in response to 67% of CWT global customers stating that their company’s sustainability goals are more important since the pandemic.
  • platform connectivity enhancements to ensure a seamless and productive digital experience for travel managers and their travelers – reflective of the increased role technology plays in increasing traveler confidence as they resume traveling.
  • broader content to further expand the breadth of travel choice and trip options – ensuring greater flexibility, to fit evolving travel program needs.

On the back of new features released in the myCWT platform late last year, first fruits of the new investment plan this quarter include the introduction of carbon footprint indicators. Thereafter CWT has an ambitious calendar and cadence of new capabilities, set for delivery throughout the rest of year.

“We are laser-focused on honing our digital-first proposition, delivering integrated solutions that delight travelers and demonstrate experience excellence,” said John Pelant, EVP and Chief Technology Officer. “It gives us the opportunity to accelerate platform development and innovation, while continuing to deliver the most advanced digital products and experience available in corporate travel.”

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Brits oblivious to bank charges when overseas – costing them money every time they go on holiday https://dev.traveldailymedia.com/brits-oblivious-to-bank-charges-when-overseas-costing-them-money-every-time-they-go-on-holiday/ Mon, 17 Jan 2022 02:00:32 +0000 https://www.traveldailymedia.com/?p=684750 The post Brits oblivious to bank charges when overseas – costing them money every time they go on holiday appeared first on TD (Travel Daily Media) Brand TD.

Holidays will cost many Brits far more than necessary given the lack of knowledge around foreign exchange (FX) charges and international transaction costs

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As the travel industry slowly begins to recover from the implications of COVID-19, many Brits are booking a much-needed holiday. And some are planning big-budget trips thanks to increased savings during the height of the pandemic.

But these holidays will cost many Brits far more than necessary given the lack of knowledge around foreign exchange (FX) charges and international transaction costs, according to research by Opinium, commissioned by bank challenger Tally. Nearly six in ten (57%) people don’t know banks add a margin to the official FX rate in addition to charging a transaction fee for using your card abroad, while four in ten (39%) are unaware that many banks charge fees for withdrawing money from cashpoints when abroad as well as additional interest on the withdrawal.

Half (51%) are unaware that choosing to pay in the local currency rather than in pounds when using your card abroad gives you a more favourable exchange rate. A similar proportion (55%) are unaware that if you don’t pay in the local currency on your card when abroad, the retailer will set the exchange rate and have the option to add conversion fees on top. A further 24% say banks are deliberately unclear on FX rates.

According to the research, many travellers are now demanding change to reduce FX costs. A third – 32% – believe a law should be introduced to stop banks from charging customers transaction fees simply because they’re abroad.

Business looks set to be brisk for the sector, with the UK government recently announcing an end to pre-departure testing for holidaymakers returning to England and Wales, along with abolishing mandatory isolation until a negative PCR test has been obtained by those visiting the UK.

This development provides a huge boost to the travel industry, with travel company Kuoni’s CEO claiming that the industry will be “90% back before the end of spring.”

Cameron Parry, Founder and CEO of Tally, said: “A lack of clarity around foreign currency exchange and payments abroad generates revenues for banks, via unnecessary fees for bank customers. “We want to demystify costs for bank customers.  It is important that charges are simple and transparent so people can make the best choice when it comes to spending their hard-earned cash when overseas.  People can accept a cost for convenience but no one likes having the wool pulled over their eyes. The research tells us that consumers are not satisfied with the current system and are looking for change.”

Many savers are likely to have built up a lot of annual leave during the pandemic. This, combined with parts of the world opening up, means thousands are planning foreign holidays for 2022.

Parry added: “Our advice is to pay attention to the options presented at time of payment when abroad.  And consumers should get themselves an account designed with international use in mind, such as a Tally account, which doesn’t charge foreign transaction fees, foreign withdrawal fees, or markup the official FX rate.”

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Asia’s richest man checks into New York! Reliance buys Mandarin Oriental in NYC for $270 million https://dev.traveldailymedia.com/look-whos-checked-into-new-york-reliance-buys-mandarin-oriental-in-nyc-for-270-million/ Mon, 10 Jan 2022 06:05:40 +0000 https://www.traveldailymedia.com/?p=684407 The post Asia’s richest man checks into New York! Reliance buys Mandarin Oriental in NYC for $270 million appeared first on TD (Travel Daily Media) Brand TD.

Reliance Industries (RIL) said its wholly owned subsidiary Reliance Industrial Investments and Holdings Limited (RIIHL) has signed an agreement to acquire 73.37 per cent stake in Mandarin Oriental New York

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Reliance Industries (RIL), India’s largest corporate by revenues, profits and market value, has announced the acquisition of Mandarin Oriental Hotels flagship New York City property in Columbus Circle for an equity consideration of approximately $98.15 million. RIL said its wholly owned subsidiary Reliance Industrial Investments and Holdings (RIIHL) has signed an agreement to acquire 73.37 per cent stake in the New York property, one of the premium luxury hotels in New York City.

Under the agreement, RIIHL will acquire the entire issued share capital of Columbus Centre Corporation (Cayman), a company incorporated in the Cayman Islands and the indirect owner of a 73.37 per cent stake in Mandarin Oriental New York, for an equity consideration of approximately $98.15 million.

The Mandarin Oriental brand counts Irish born actor of ‘Schindler’s List’ and ‘Taken’ fame Liam Neeson among its fans.

“The closing of the transaction is anticipated to occur by the end of March 2022 and is subject to certain customary regulatory and other approvals and the satisfaction of certain other conditions,” RIL said in an exchange filing. The acquisition, it said, will add to the consumer and hospitality footprint of the group which already has investments in EIH Ltd (Oberoi Hotels), Stoke Park Limited in UK and is developing a state-of-the-art convention centre, hotel and manged residences in BKC Mumbai.

“Set up in 2003, Mandarin Oriental New York is an iconic luxury hotel located at 80 Columbus Circle, directly adjacent to the pristine Central Park and Columbus Circle. It has global recognition and has won several influential awards including AAA Five Diamond Hotel, Forbes Five Star Hotel, and Forbes Five Star Spa, among others,” the filing said. Mandarin Oriental New York’s revenue stood at $115 million in 2018, $113 million in 2019 and $15 million in 2020.

The Mukesh Amabni-led company also said that if the other owners of the hotel elect to participate in the sale transaction, RIIHL would acquire the remaining 26.63 per cent stake based on the same valuation as used for the acquisition of the indirect 73.37 per cent stake.

The Indian billionaire Mukesh Ambani had earlier bought Stoke Park in the UK, adding an iconic locale that’s been the setting for two James Bond films to its portfolio of tourism properties.

 

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IndiGo joins hands with Kotak Mahindra to unveil Ka-Ching Credit Card https://dev.traveldailymedia.com/indigo-joins-hands-with-kotak-mahindra-to-unveil-ka-ching-credit-card/ Fri, 17 Dec 2021 01:00:24 +0000 https://www.traveldailymedia.com/?p=683451 The post IndiGo joins hands with Kotak Mahindra to unveil Ka-Ching Credit Card appeared first on TD (Travel Daily Media) Brand TD.

IndiGo and Kotak Mahindra Bank have launched its travel credit card – Ka-ching for unmatched rewards on domestic and international travel

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IndiGo and Kotak Mahindra Bank have launched its travel credit card – ‘Ka-ching’. The co-branded credit card was officially launched at the Delhi Airport by William Boulter, Chief Commercial Officer, IndiGo and Ambuj Chandna, President – Consumer Assets, Kotak Mahindra Bank in the presence of officials from both the organisations.

Ka-ching empowers customers to spend anywhere and redeem rewards for free IndiGo air tickets. Launched under the 6E Rewards program, the Kotak IndiGo Ka-ching Credit Card comes in two variants — 6E Rewards and 6E Rewards XL, each providing exclusive benefits and unmatched rewards on domestic and international travel.

As a part of the welcome benefits, customers of the Kotak-IndiGo Ka-ching Credit Card will enjoy a complimentary air ticket worth up to Rs 3,000. Ka-ching will enable customers to accrue accelerated 6E Rewards on all spends that can be redeemed against the purchase of airline tickets anytime with no blackout dates. Furthermore, customers will have access to other special benefits on IndiGo, including discounted convenience fee, priority check-in, choice of seat and a complimentary meal, besides earning additional rewards on dining, shopping, transport, medical bill, utilities, fuel and other major categories.

Talking about the new card, Boulter said: “It is a perfect partnership as KMBL’s huge base of customers will be able to avail benefits including IndiGo flight tickets and other services with 6E rewards accumulated on flight bookings, dining, entertainment and other spends. We strive to offer the best service to our customers every single day, as their satisfaction is at the heart of what we do. We have immense conviction in our partner KMBL, as both the brands believe in consistently enhancing engagement to deliver an outstanding customer experience.”

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Amex GBT to go public to accelerate growth strategy https://dev.traveldailymedia.com/amex-gbt-to-go-public-to-accelerate-growth-strategy/ Mon, 06 Dec 2021 02:00:58 +0000 https://www.traveldailymedia.com/?p=682628 The post Amex GBT to go public to accelerate growth strategy appeared first on TD (Travel Daily Media) Brand TD.

American Express Global Business Travel (GBT) announced its entry into a definitive business combination agreement with special purpose acquisition company Apollo Strategic Growth Capital

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American Express Global Business Travel (GBT) announced its entry into a definitive business combination agreement with special purpose acquisition company Apollo Strategic Growth Capital. The combination is expected to create the world’s largest publicly traded B2B travel platform, which plans to list on the New York Stock Exchange (NYSE) under the new ticker symbol GBTG.

Becoming a public company positions GBT to accelerate its existing growth strategy, while providing additional investment capacity and flexibility to create more value and choice for customers. Communications platform company Zoom Video Communications; global travel technology company Sabre; APSG’s sponsor, an affiliate of alternative asset manager Apollo; funds managed by the private equity group of Ares Management Corporation (Ares); and investment adviser HG Vora, are among a new group of strategic and institutional investors committed to joining GBT’s upsized, oversubscribed PIPE. Upon the closing of the transaction, these companies will join American Express Company, one of the world’s largest payment and card services providers, Expedia Group, one of the world’s largest online travel businesses, and Certares, a travel investment specialist, as shareholders.

Paul Abbott, GBT’s Chief Executive Officer, said: “Becoming a public company will be a historic milestone on GBT’s growth journey. Commitments from new investors like Zoom, Sabre, Apollo, Ares and HG Vora are a huge vote of confidence in our business and the future of business travel, and meetings and events. We expect that becoming a listed company will give us the additional investment capacity to strengthen our commitment to providing unrivaled value, choice and experiences to our customers and partners.”

Itai Wallach, Partner at Apollo, said: “American Express Global Business Travel is an industry leader with an incredible brand, strong management team and highly strategic shareholder base. This combination is an exciting and unique opportunity to support a leading company with strong staying power and the opportunity to accelerate its growth as a public company.”

Under an 11-year agreement to take effect upon closure of the transaction, GBT will continue to have the right to use the American Express trademark in connection with American Express Global Business Travel and American Express GBT Meetings & Events brands.

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Financial restructuring: Avianca emerges from bankruptcy https://dev.traveldailymedia.com/financial-restructuring-avianca-emerges-from-bankruptcy/ Fri, 03 Dec 2021 06:23:44 +0000 https://www.traveldailymedia.com/?p=682505 The post Financial restructuring: Avianca emerges from bankruptcy appeared first on TD (Travel Daily Media) Brand TD.

Avianca has successfully completed a financial restructuring process and emerged from Chapter 11 bankruptcy protection

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Avianca has successfully completed a financial restructuring process and emerged from Chapter 11 bankruptcy protection. Officials claim the carrier is now more efficient and financially stronger, with significantly reduced debt and over $1 billion in liquidity.

Rohit Philip, chief financial officer of Avianca, said: “This is an important day for Avianca and all of our stakeholders. We are pleased to be emerging successfully from this process, with Avianca in a stronger financial position to continue serving our customers and flying the skies for many years to come. We look forward to continuing to execute on our new business vision and capitalizing on the recovery in travel demand to drive our future success.”

The carrier initially sought to restructure its operations in May last year, during the early stages of the Covid-19 pandemic. Adrian Neuhauser, chief executive of Avianca, said: “We look forward to the company’s future success as we continue building upon Avianca’s rich history across Latin America and internationally. We appreciate the support of our loyal customers, partners and lenders throughout this process.”

As per the approved plan of reorganisation, the new shareholders will invest in Avianca Group International Limited, a new holding company to be domiciled in the United Kingdom. The new entity will consolidate the group’s investments in all subsidiaries. This includes Aerovias del Continente Americano, the Colombian subsidiary, and TACA International, the Central American operation.

The prior holding company, Avianca Holdings was domiciled in Panama.

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Sydney Airport to sell for USD 17 billion https://dev.traveldailymedia.com/sydney-airport-to-sell-for-usd-17-billion/ Wed, 10 Nov 2021 00:30:11 +0000 https://www.traveldailymedia.com/?p=680793 The post Sydney Airport to sell for USD 17 billion appeared first on TD (Travel Daily Media) Brand TD.

Sydney Airport said it had agreed to USD 17.5 billion takeover bid by an Australian investor consortium, just days after reopening to international travel

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Sydney Airport said it had agreed to USD 17.5 billion takeover bid by an Australian investor consortium, just days after reopening to international travel. The airport’s board unanimously approved the sale to the Sydney Aviation Alliance — a consortium of infrastructure investors and Australian pension funds — and recommended shareholders to vote in favour.

The alliance offered AUD 8.75 per share, or AUD 23.6 billion (USD 17.47 billion), after earlier offers were rejected as too low. “The announcement is the culmination of months of engagement between all parties. The Sydney Airport Boards believe the outcome reflects appropriate long-term value for the airport,” Sydney Airport chairman David Gonski said in a statement.

The announcement comes as Australia’s international border partially reopens, almost 600 days after one of the world’s toughest pandemic border closures began. Vaccinated Australians traveling via Sydney and Melbourne may now come and go without quarantine — with the move seen as the country’s first step in the gradual resumption of travel.

The airport sale remains subject to conditions, including an independent expert evaluation. Shareholders are to consider the deal at a meeting in the first quarter of 2022, with a 75 percent majority required for approval.

(Source: AFP)

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Tech unicorn SiteMinder debuts on ASX with oversubscribed AU$627M IPO https://dev.traveldailymedia.com/tech-unicorn-siteminder-debuts-on-asx-with-oversubscribed-au627m-ipo/ Mon, 08 Nov 2021 03:54:42 +0000 https://www.traveldailymedia.com/?p=680701 The post Tech unicorn SiteMinder debuts on ASX with oversubscribed AU$627M IPO appeared first on TD (Travel Daily Media) Brand TD.

SiteMinder will commence trading on Australian Securities Exchange (ASX) following oversubscribed Initial Public Offering (IPO) of AU$627 million today

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The world’s leading open hotel commerce platform, SiteMinder will commence trading on the Australian Securities Exchange (ASX) under the ticker code ‘SDR’ following an oversubscribed Initial Public Offering (IPO) of AU$627 million today. Under the IPO, 123,913,043 shares were offered at AU$5.06 per share, culminating in a total offer of AU$627 million and firming SiteMinder’s market capitalisation at AU$1.36 billion based on the IPO offer price.

Equity funds managed by BlackRock led the IPO with increased support from existing investors AustralianSuper, Ellerston Capital, Fidelity International, Pendal Group and Washington H. Soul Pattinson. Several new global institutional investors also joined leading Australian institutions in cornerstoning the IPO—including funds managed by Caledonia, GIC, UniSuper, Wellington Management, and a large global investment firm headquartered in California—together with strong demand from other reputed institutional and retail investors.

Long-term SiteMinder shareholder Bailador Technology Investments will continue as a substantial shareholder.

The successful IPO represents a significant milestone for SiteMinder, placing it in an even stronger position to pursue further growth and further extend its leadership in the large, unpenetrated hotel market of more than one million accommodation providers with significant potential for improved online connectivity.

Financial performance

The company achieved a total annual revenue of AU$101.0 million in FY2021, and a total annual recurring revenue of AU$104.9 million in June 2021. The company’s revenue remained resilient through the height of COVID-19, even as it supported its tens of thousands of hotel customers to navigate the pandemic.

Today’s IPO follows a pre-IPO funding round of over AU$100 million conducted in September, which consisted of primary and secondary capital from existing investors and the entry of Fidelity International to the shareholder group.

Although founded and headquartered in Australia, with product and engineering teams driving technical innovation in-house, nearly 60 percent of SiteMinder’s revenue is generated outside of the Asia Pacific.

“Today serves as yet another reminder that the world’s innovators and market leaders can emerge from Australia,” says Sankar Narayan, CEO and Managing Director of SiteMinder. “We are grateful to our people, customers, partners and investors for supporting us on our 15-year journey so far. In particular, I am thrilled with the extremely high quality of shareholders who have joined us for our journey ahead. These include many of the biggest and most knowledgeable global and Australian giants in the investment world, to add to the very strong endorsement from our high quality existing investors.”

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Over half of Thai travellers to choose domestic destinations in 2022 – Visa Study https://dev.traveldailymedia.com/over-half-of-thai-travellers-to-choose-domestic-destinations-in-2022-visa-study/ Wed, 03 Nov 2021 22:19:41 +0000 https://www.traveldailymedia.com/?p=680409 The post Over half of Thai travellers to choose domestic destinations in 2022 – Visa Study appeared first on TD (Travel Daily Media) Brand TD.

Thai leisure travellers will continue to discover domestic destinations through 2022 as shorter, safer trips become the preferred mode of post-COVID travel.

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Thai leisure travellers will continue to discover domestic destinations through 2022 as shorter, safer trips become the preferred mode of post-COVID travel. The Visa Voice of the Consumer research, (the “Study”), found that over half (51%) of Thai respondents are likely to take a leisure trip within Thailand within the next year, while 23% plan to travel overseas.

The Study also found that the top three factors that will make Thai travellers comfortable to travel again are having received a vaccination (67%), a reduction of global cases of COVID infections (55%), and having COVID insurance (41%).

Suripong Tantiyanon, country manager for Visa Thailand, said: “It’s clear that caution remains among the public when it comes to travel, and there is a strong preference for safety and familiarity. Businesses in destinations across Thailand should consider these aspects when welcoming tourists back, whether they are from within Thailand or overseas, and ensure visitor safety at every level, and this includes payments. During the pandemic contactless payment has seen significant growth due to its speed, convenience, and safety. It’s important businesses continue to meet consumer expectations as travel recovers.”

Travellers throughout Asia Pacific are also approaching their travels differently comparing to pre-COVID times. Over half (53%) will take extra effort to book accommodation that is safe and quality assured, while 44% are planning to carry more cards so they can use contactless and digital payments to avoid touching cash. Two in five (42%) of the respondents are planning to avoid crowded tourist spots.

When it comes to the top overseas travel destinations, the majority of Thai travellers are keen to visit Japan, followed by China, Australia, South Korea, Canada, and France.

When asked about their appetite for travel, nearly half (48%) said they were keen to travel within a bubble but not in the immediate future.  Meanwhile, one third (33%) said they were keen to travel as soon as possible when a travel bubble is available, and the remainder said they were not interested in travel bubbles.

“Cashless is no longer a matter of convenience. In the post-COVID era, digital payments are synonymous with confidence, safety, and recovery. It will be interesting to see how digital payments can play a vital role in the recovery of domestic and international tourism as consumers take extra steps to ensure health and safety.  Visa has partnered with a number of government agencies and private sector organisations over recent years, such as with the Tourism Authority of Thailand on the Safety and Health program which certified the sanitation standards of Thai merchants, and we are committed to intensifying our efforts.  In the meantime, we hope these insights can support our partners in the tourism and payments industries to adapt to the new normal and grow their businesses in the new environment,” added Suripong.

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Groups360 to partner with PCI Security Standard Council to help secure payment data worldwide https://dev.traveldailymedia.com/groups360-partner-pci-security-standard-council-secure-payment-data-worldwide/ Mon, 06 Sep 2021 00:00:13 +0000 https://www.traveldailymedia.com/?p=676502 The post Groups360 to partner with PCI Security Standard Council to help secure payment data worldwide appeared first on TD (Travel Daily Media) Brand TD.

Groups360, the leading online marketplace for meetings and events, announced today that it has joined the PCI Security Standards Council (PCI SSC) as a new Participating Organization. Groups360 will work with the PCI SSC to help secure payment data worldwide through the ongoing development and adoption of the PCI Security Standards.

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Groups360, the leading online marketplace for meetings and events, announced today that it has joined the PCI Security Standards Council (PCI SSC) as a new Participating Organization. Groups360 will work with the PCI SSC to help secure payment data worldwide through the ongoing development and adoption of the PCI Security Standards.

 

The PCI SSC leads a global, cross-industry effort to increase payment security by providing flexible, industry-driven and effective data security standards and programs. The keystone is the PCI Data Security Standard (PCI DSS), which provides an actionable framework for developing a robust payment card data security process preventing, detecting and mitigating criminal attacks and breaches.

 

As a Participating Organization, Groups360 adds its voice to the standards development process and will collaborate with a growing community of more than 800 Participating Organizations to improve payment security worldwide. Groups360 will also have the opportunity to recommend new initiatives for consideration to the PCI Security Standards Council and share cross-sector experiences and best practices at the annual PCI Community Meetings.

 

David Kloeppel, executive chairman, and Kemp Gallineau, president and CEO, Groups360

 

 

 

Lance Johnson, Executive Director of the PCI Security Standards Council

 

“In an era of increasingly sophisticated attacks on systems, PCI Security Standards and resources help organizations secure payment data and prevent, detect and mitigate attacks that can lead to costly data breaches,” said Lance Johnson, Executive Director of the PCI Security Standards Council. “By joining as a Participating Organization, Groups360 demonstrates they are playing an active part in improving payment security globally by helping drive awareness and adoption of PCI Security Standards.”

 

 

“Adherence to the standards set forth in the PCI DSS guidance are not only required, but they are sound security business practices,” said Bill Hanning, chief information security officer at Groups360. “Groups360 is not only committed to following these standards, but we believe in being an active partner, working to help shape the future of payment security. Being one of the first in the hospitality industry to join the PCI SSC shows Groups360’s commitment and support to enhancing both payment security and compliance across our industry.”

Jim Siegienski, Groups360’s chief technology officer

 

“We take great pride in being innovators in the meetings and events industry, so we jumped at the opportunity to bring greater data security into all our technology systems as we enable meeting planners and hotels around the globe transact online,” added Jim Siegienski, Groups360’s chief technology officer.

 

 

 

 

 

About Groups360

Groups360 was created with a singular goal — to empower meeting planners by bringing innovation, transparency and simplicity to the decades-old problem of booking groups. The company’s integrated technology solution, GroupSync™, enables suppliers to distribute inventory, engage with planners, and optimize group revenue. GroupSync also equips planners to search and shop hotels worldwide and to book rooms and space directly, online or through a simplified RFP process. GroupSync is the first distribution channel to offer online booking for both group hotel rooms and meeting space.

 

Groups360 has offices in Nashville, London and Singapore. Learn more at groups360.com.

 

About the PCI Security Standards Council

 

The PCI Security Standards Council is a global forum that is responsible for the development, management, education, and awareness of the PCI Data Security Standard (PCI DSS) and other standards that increase payment data security. Connect with the PCI Council on LinkedIn. Join the conversation on Twitter @PCISSC. Subscribe to the PCI Perspectives Blog.

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Microsoft invests $5 million in Oyo https://dev.traveldailymedia.com/microsoft-invests-5-million-in-oyo/ Mon, 23 Aug 2021 01:30:39 +0000 https://www.traveldailymedia.com/?p=675837 The post Microsoft invests $5 million in Oyo appeared first on TD (Travel Daily Media) Brand TD.

Microsoft has invested $5 million in SoftBank-backed Oyo, according to a regulatory filing, ahead of the Indian hotel chain's plan to go public

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Microsoft has invested $5 million in SoftBank-backed Oyo, according to a regulatory filing, ahead of the Indian hotel chain’s plan to go public. Oravel Stays (Oyo) approved on 16 July the issue of equity shares and convertible cumulative preference shares amounting to rupee equivalent of $5 million to Microsoft in a private placement, according to a filing by Oyo with the Registrar of Companies.

Last month, a source familiar with the matter had said that Microsoft was in advanced talks to invest in Oyo at a $9 billion valuation.

The hotel aggregator, in which Japanese conglomerate SoftBank owns a 46% stake, endured months of layoffs, cost cuts and losses during the Covid-19 pandemic. But with easing travel curbs and increasing vaccinations, travel demand is slowly recovering in India, with local tourism attractions witnessing a higher traffic.

In early July, Oyo’s founder and chief executive officer, Ritesh Agarwal, said the firm would consider a potential public offering, but did not provide a timeline. India is currently witnessing an IPO frenzy. In July, food-delivery firm Zomato saw a stellar debut. Berkshire Hathaway Inc-backed Paytm and ride-hailing firm Ola, which is also backed by SoftBank, are among other Indian startups looking to enter markets.

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Oyo shortlists investment banks for USD 1.2 billion IPO https://dev.traveldailymedia.com/oyo-shortlists-investment-banks-for-usd-1-2-billion-ipo/ Tue, 10 Aug 2021 05:55:02 +0000 https://www.traveldailymedia.com/?p=675091 The post Oyo shortlists investment banks for USD 1.2 billion IPO appeared first on TD (Travel Daily Media) Brand TD.

SoftBank-backed Oyo Hotels & Rooms has shortlisted JP Morgan, Kotak Mahindra Capital and Citi for its more than USD 1.2 billion initial public offering in India

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SoftBank-backed Oyo Hotels & Rooms has shortlisted JP Morgan, Kotak Mahindra Capital and Citi for its more than USD 1.2 billion initial public offering in India. The three investment banks were taken on board recently.

The work on the issue has started, the report said, adding that the company is leaning towards a domestic IPO but has kept its options open.

The hospitality startup’s chief executive officer and founder Ritesh Agarwal had said in July that its business was likely to return to levels seen before the second wave of Covid-19 infections in India and grow from there.

The hotel aggregator, in which SoftBank owns a 46% stake and is one of its biggest bets, has endured months of layoffs, cost cuts and losses during the global health crisis. However, with easing travel curbs and increasing vaccinations, travel demand is slowly picking up in India.

Microsoft in July was in advanced talks to invest in Oyo at a valuation of $9 billion in a prelude to Oyo’s IPO, Reuters had reported.

(Source: Reuters)

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Ixigo raises USD 53 million in pre-IPO funding round https://dev.traveldailymedia.com/ixigo-raises-usd-53-million-in-pre-ipo-funding-round/ Thu, 29 Jul 2021 04:51:43 +0000 https://www.traveldailymedia.com/?p=674512 The post Ixigo raises USD 53 million in pre-IPO funding round appeared first on TD (Travel Daily Media) Brand TD.

Travel app Ixigo has raised USD 53 million, through a combination of primary and secondary issuance of shares, from investors, led by the Singapore sovereign wealth fund GIC, ahead of its proposed initial public offering

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Leading travel app Ixigo has raised USD 53 million, through a combination of primary and secondary issuance of shares, from investors, led by the Singapore sovereign wealth fund GIC, ahead of its proposed initial public offering, according to a regulatory filing. Apart from GIC, other investors include Infoedge Venture Funds, White Oak, Bay Capital, Orios Venture Partners, Trifecta Capital, and Malabar Investments, as per the filing to the Ministry of Corporate Affairs.

Infoedge has been a top investor in private companies, including Zomato that just completed a mega IPO and got listed last week with 68 per cent gains on debt, and the IPO-bound Policybazaar. Of the USD 53 million latest investment, USD 36 million is against primary shares.

While GIC is the top long-term public market anchor investor and its investment strengthens Ixigo’s positioning leading up to the initial public offering (IPO); Malabar, White Oak and Bay Capital are active pre-IPO investors.

The OTA has weathered the coronavirus pandemic well and managed to grow despite most travel companies being at under half of FY20 revenues in FY21. It is planning a INR 1,500-1,800-crore public float and expected to file the DRHP shortly. Ahead of the IPO, the Gurugram-based company undertook a capital restructuring and increased its authorised share capital to INR 50 crore from INR 30 lakh, sources said. Ixigo is backed by marquee investors such as Sequoia Capital India, Fosun RZ, Elevation Capital and Micromax Informatics.

Launched in 2007 by Aloke Bajpai, Ixigo is focused on empowering travellers to plan, book and manage their travels by leveraging artificial intelligence, machine learning and data science-led innovations. Founded in 2007 and headquartered in Gurugram, the company has a user base of over 250 million.

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OYO raises USD 660 million debt from investors https://dev.traveldailymedia.com/oyo-raises-usd-660-million-debt-from-investors/ Mon, 19 Jul 2021 08:25:04 +0000 https://www.traveldailymedia.com/?p=674029 The post OYO raises USD 660 million debt from investors appeared first on TD (Travel Daily Media) Brand TD.

OYO has raised a term loan B (TLB) funding of USD 660 million from global institutional investors

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OYO has raised a term loan B (TLB) funding of USD 660 million from global institutional investors. The offer was oversubscribed by 1.7 times and the company received commitments of close to USD 1 billion from leading institutional investors.

The company will utilise these funds to retire its past debts, strengthen the balance sheet and other business purposes including investment in product technology.

OYO is the first Indian startup to be publicly rated by Moody’s and Fitch, two of the leading international rating agencies. Fitch and Moody’s rated OYO’s senior secured loan B and B3 (stable outlook), respectively, on the back of the company’s sound business model and resilient financial profile with significant potential upside. OYO is the first Indian company to raise capital through the TLB route.

Commenting on the financing, Abhishek Gupta, group chief financial officer in OYO said: “We are delighted by the response to OYO’s maiden TLB capital raise that was oversubscribed by leading global institutional investors. We are thankful for the trust that they have placed in OYO’s mission of creating value for owners and operators of hotels and homes across the globe. This is a testament to the strength and success of OYO’s products at scale, our strong fundamentals and high-value potential. OYO is well capitalised and on the path of achieving profitability. Our two largest markets have demonstrated profitability at the slightest signs of industry recovery from the COVID-19 pandemic.”

JP Morgan, Deutsche Bank, and Mizuho Securities served as the lead arrangers for this financing.

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Paysafe launches safeguarding model for travel industry globally https://dev.traveldailymedia.com/paysafe-launches-safeguarding-model-for-travel-industry-globally/ Mon, 12 Jul 2021 03:46:46 +0000 https://www.traveldailymedia.com/?p=673644 The post Paysafe launches safeguarding model for travel industry globally appeared first on TD (Travel Daily Media) Brand TD.

Paysafe, a leading specialised payments platform, announced the global launch of its safeguarding solution for the travel industry.

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Paysafe, a leading specialised payments platform, announced the global launch of its safeguarding solution for the travel industry. The new solution eliminates the need for travel operators or other travel businesses that accept payments from consumers to offer cash collateral to their acquirer to offset the risk of non-delivery of services.

Instead, consumer payments are held by a third party, and released immediately and in full to the travel business upon terms agreed by the company and Paysafe being met.

The safeguarding model has been created using the company’s extensive experience in the travel industry to build a new risk management mechanism that benefits both travel companies and their acquirers. It has been developed in partnership with industry-specialised trust solution partners and uses its payment technology and sophisticated data management capabilities to immediately reconcile when funds should be released to the merchant.

Currently, holding cash reserves as collateral is industry standard, as acquirers manage the risk generated by consumers making high value transactions well in advance of delivery of the service. As the value of cash being withheld can often fluctuate, this has created numerous problems for travel businesses, including liquidity concerns and uncertainty.

Having identified the need for the industry to move away from traditional collateral-based risk management, the group has been rolling out and battle testing its services with a limited number of partners in Europe. Following the COVID-19 crisis and the challenges that travel companies have faced during this period, the need for the travel industry to move away from payments relationships built on cash collateral and rolling reserves has grown, and the highly flexible and scalable solution from Paysafe helps to support this shift.

Commenting on the launch, Paulette Rowe, CEO of integrated and ecommerce solutions at Paysafe, said: “It is no secret that the travel industry has been heavily impacted by COVID-19. Many travel companies have struggled to find a payments partner that is willing to work with them on agreeable terms during the pandemic, as acquirers simply haven’t been prepared to accept the risk profiles the industry is generating. At Paysafe, we’ve leaned on our deep understanding of the sector to evolve our safeguarding solution to enable us to work more closely with our partners in a way that is preferable to both parties. Stress testing the model throughout the crisis puts us in the best position to support the industry in its period of recovery, and to thrive in the long term.”

Paysafe has also published a whitepaper for the industry outlining how the safeguarding model benefits both the travel industry and the acquirers it works with. Safeguarding the future of travel: Why it is time to rethink payments and liquidity in the travel industry details why the industry had already reached a crossroads with its payment solutions prior to the pandemic and what has been learned from the crisis. It also offers an in-depth explanation of how the safeguarding model works in practice, and the benefits of the new type of relationship for both travel businesses and the acquirer.

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Brits to spend more on holidays after the pandemic https://dev.traveldailymedia.com/brits-to-spend-more-on-holidays-after-the-pandemic/ Thu, 08 Jul 2021 00:13:41 +0000 https://www.traveldailymedia.com/?p=673446 The post Brits to spend more on holidays after the pandemic appeared first on TD (Travel Daily Media) Brand TD.

While 50% of Brits have been saving more since the pandemic, two-fifths (41%) of Brits are planning to spend more on their holidays once international travel resumes, according to the new research by battleface.

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While 50% of Brits have been saving more since the pandemic, two-fifths (41%) of Brits are planning to spend more on their holidays once international travel resumes, according to the new research by battleface.

2,000 UK adults were surveyed between 11 and 15 June by Opinium Research on behalf of travel insurance provider battleface to look at the immediate motivators and barriers to international travel for 2021.

Once abroad, spending habits will likely remain the same, with over a third (36%) planning to spend the same amount as before the pandemic. One in six, however, are planning to up their spending whilst on holiday, averaging an expected extra spend of GBP585 per trip. Just 6% of adults were planning to reduce their spending by GBP432 on average.

Many are looking beyond this year to plan their next trip abroad. Just over a third (38%) of adults reported that their next international holiday was planned for 2022 (38%), with a further 28% stating they would next be travelling in 2023. This summer, many people are choosing holiday destinations in the UK. With the current restrictions against international travel, staycations, just as in summer 2020, are increasingly popular.

While three fifths (61%) are planning to travel closer to home, around a third (34%) are planning to take longer holidays than before the pandemic.

Katie Crowe, director of communications for battleface, said: “It is clear that the pandemic has impacted how people want to travel in the future. Many Brits are uncertain about travelling abroad this summer and it is not surprising that many families are looking to 2022 and 2023 for their next trip. Families are choosing to save for future holidays, where they will want to spend more and stay away for a longer period.

Regardless of how much people are planning to spend on their trips, they need to ensure that they have adequate travel insurance to protect them. Choosing the wrong policy could mean that their holidays end up costing much more than they had planned. battleface insurance policies remain valid regardless of changes in FCDO advice or any change in a country’s traffic light colour.”

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airasia acquires Gojek’s Thai operations to become leading tech giant in the region https://dev.traveldailymedia.com/airasia-acquires-gojeks-thai-operations-to-become-leading-tech-giant-in-the-region/ Wed, 07 Jul 2021 07:31:28 +0000 https://www.traveldailymedia.com/?p=673420 The post airasia acquires Gojek’s Thai operations to become leading tech giant in the region appeared first on TD (Travel Daily Media) Brand TD.

airasia Digital, the digital arm of airasia Group and Gojek, Southeast Asia’s leading mobile on-demand services and payments platform, today revealed a partnership whereby airasia Digital will acquire Gojek’s operations in Thailand

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airasia Digital, the digital arm of airasia Group and Gojek, Southeast Asia’s leading mobile on-demand services and payments platform, today revealed a partnership whereby airasia Digital will acquire Gojek’s operations in Thailand. This win-win deal is expected to rev up expansion of the airasia Super App in Asean, while enabling Gojek to increase investments in its Vietnam and Singapore operations.

In return, Gojek will receive shareholding in the airasia Super App whose market value is around USD1 billion. The deal provides both parties with a strong foundation to explore additional opportunities for collaboration and synergies in one of the fastest-growing regions in the world.

As part of its commitment to Thailand, the airasia Super App aims to continue to leverage the existing ecosystem services for riders, merchants and customers while adding new offerings, such as groceries and beauty items. It will seek regional expansion into new markets like Chiang Mai and Phuket in the near future.

The Gojek app will continue to operate for existing users in Bangkok through to 31 July 2021 to ensure stability for Gojek drivers and merchants – who will be invited to onboard the airasia Super App in coming weeks. airasia will work with the existing Gojek team in Thailand, who will operate the Gojek business during the transition period before moving over to the airasia super app, bringing local market expertise and a deep understanding of Thai user needs to the business.

At the same time, in a realignment of its international strategy, Gojek is increasing investment in its Vietnam and Singapore operations, having identified these markets as strong sources of growth for the business going forward. This includes increased driver and merchant acquisition initiatives, enhancements to user experience as well as launching new products and services.

airasia Group CEO Tony Fernandes said: “Today’s announcement is the start of a tremendous long term strategic partnership with Gojek which is sure to rock the industry. By taking on Gojek’s well-established Thai business, we’ll be able to turbo charge our ambitions in this space to become a leading Asean challenger super app. We already have a complete digital economy ecosystem. We have successfully established over 15 different non airline products and lifestyle services on our digital e-commerce platform in Malaysia. Now it’s time to take it to the next level. In response to overwhelming regional demand, we are setting our sights on bringing our Super App offerings to all of our key markets, following the successful roll out in Thailand.”

Gojek CEO Kevin Aluwi, said: “This deal is a testament to the accomplishments of our team in Thailand, who grew the business from nothing to an on-demand service provider that has made a difference to hundreds of thousands of people throughout the country.”

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Yatra-Ebix spat bad news for future deals in travel sector https://dev.traveldailymedia.com/yatra-ebix-spat-bad-news-for-future-deals-in-travel-sector/ Tue, 09 Jun 2020 03:31:05 +0000 https://www.traveldailymedia.com/?p=682789 The post Yatra-Ebix spat bad news for future deals in travel sector appeared first on TD (Travel Daily Media) Brand TD.

Yatra announced it was canceling the agreement, saying Ebix’s conduct breached material terms of the agreements

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Nearly one year after it was first announced, the merger deal between one of India’s biggest online travel agency (OTA) Yatra and Atlanta-based software and e-commerce firm Ebix has fallen apart.

In July 2019 Ebix announced it would acquire Yatra for $337.8 million. The plan called for Yatra to continue to operate as its own brand within the travel portfolio of EbixCash, a financial exchange that Ebix operates in India and that includes travel brands Via and Mercury.

The spat between the two companies has now intensified with Ebix threatening a counter-suit over the Gurugram-based Yatra’s legal move to terminate its pending merger agreement.

Atlanta, US-based Ebix said it disagrees with online travel agency Yatra’s legal complaint against it, and said it was “currently considering all options, including a counter-suit against Yatra.”

Yatra, India’s second-largest travel agency, said it was going to terminate its pending merger agreement with Ebix, and had filed a case in the State of Delaware, US against the US firm for breach of agreement.

Industry watchers said this is bad news for future deals in the sector, which has been hit badly by the Covid-19 pandemic.

Yatra shares dropped 20.33 per cent to $1.195 on Nasdaq on Monday while Ebix jumped 9.29 per cent to $31.005 a share. In its complaint, Yatra holds Ebix accountable for breaches of representations, warranties and covenants in the merger agreement and an ancillary extension agreement and seeks substantial damages.

“The sector is going through tough times as it is. It looks like one of the parties has developed cold feet. In such deals, involving different geographies, people will now come up with a defined timelines for the completion of such deals, with ensuing legal consequences,” said Arun Kejriwal, director and founder of Kejriwal Research and Investment Services.

“There might also be a non-refundable upfront payment once due diligence is completed. People will not let a deal remain open for long,” said Kejriwal.

Legal experts said this spelt bad news for the upcoming deals in this sector, and the timing of the fallout was worrisome.

“It is definitely not good news for the Indian merger market, which is already at an eight-year low. If the same has happened due to the Covid-19 situation, then we might be looking at another case of material adverse change,” said Ankita Singh, founding partner at AAS Regina Legal.

“Considering that Yatra has made Ebix’s conduct a ground for the termination, we might be looking at some internal dispute. Though we need to wait for further details, if our concerns are right, then we are set see major ambiguity in the market as we anticipate more merger deals to happen in the near future,” Singh said.

As detailed in the Yatra complaint, Ebix’s conduct breached material terms of the agreements and frustrated Yatra’s ability to close the transaction and obtain the benefit of the bargain for Yatra’s stockholders, the Indian travel agency said in a release.

Had the deal gone through, it would have marked Ebix’s biggest acquisition in India. Ebix entered India with the purchase of an 80 per cent stake in ItzCash for Rs 800 crore from Essel Group and other shareholders in May 2017.

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TUI secures USD 1.98 billion loan from German government https://dev.traveldailymedia.com/tui-secures-usd-1-98-billion-loan-from-german-government/ Tue, 31 Mar 2020 06:00:37 +0000 https://www.traveldailymedia.com/?p=545834 The post TUI secures USD 1.98 billion loan from German government appeared first on TD (Travel Daily Media) Brand TD.

TUI has received the approval of the German government for a bridging loan of EUR 1.8 billion (USD 1.98 billion) from the KfW. The funds of Germany’s state-owned development bank are to be used to increase TUI’s existing credit line with its banks amounting to EUR 1.75 billion (USD 1.93 billion). The bridge loan is […]

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TUI has received the approval of the German government for a bridging loan of EUR 1.8 billion (USD 1.98 billion) from the KfW. The funds of Germany’s state-owned development bank are to be used to increase TUI’s existing credit line with its banks amounting to EUR 1.75 billion (USD 1.93 billion).

The bridge loan is subject to the approval of the banks. One of the conditions of the KfW bridge loan is that TUI waives dividend payments for the duration of the bridge loan.

Fritz Joussen, chief executive of TUI Group said: “The commitment of the KfW bridge loan is an important first step for TUI to successfully bridge the current exceptional situation. Our thanks go to the German federal government, the German parliament, the government of Lower Saxony and KfW. They have acted quickly and in solution-oriented manner in the interest of our customers, employees and the company.”

The company had decided to apply for the KfW bridging loan to cushion the unprecedented effects of the Covid-19 pandemic until normal business operations could be resumed. Following travel restrictions and travel warnings from almost all countries, the group decided to suspend touristic offers in mid-March, including packaged tours, cruises, and hotel operations, until further notice.

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Philippines opens USD 524m “war chest” and 50% goes to tourism https://dev.traveldailymedia.com/philippines-opens-usd-524m-war-chest-and-50-goes-to-tourism/ Wed, 18 Mar 2020 00:18:21 +0000 https://www.traveldailymedia.com/?p=545030 The post Philippines opens USD 524m “war chest” and 50% goes to tourism appeared first on TD (Travel Daily Media) Brand TD.

Amid the enhanced community quarantine to the whole island of Luzon, the Philippines opened its PHP 27.1 billion (USD 524 million) “war chest” to combat the COVID-19 and PHP 14bn (USD 271m) is allocated to the tourism sector.

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Amid the enhanced community quarantine to the whole island of Luzon, the Philippines opened its PHP 27.1 billion (USD 524 million) “war chest” to combat the COVID-19 and PHP 14bn (USD 271m) is allocated to the tourism sector.

In a Facebook post, the government’s media arm has revealed the breakdown of the huge budget released for the COVID-19 crisis that is sweeping the country.

As directed by President Rodrigo Roa Duterte, the government has announced a P27.1-billion package of priority actions…

Gepostet von Presidential Communications (Government of the Philippines) am Montag, 16. März 2020

The country’s finance secretary Carlos Dominguez III explained why the tourism sector got the lion’s share in the spending plan saying that it is the industry that is most affected. The funds will be sourced from the Tourism Infrastructure and Enterprise Zone Authority (TIEZA).

The Philippines’ National Economic and Development Authority (NEDA) has estimated that tourist arrivals in the country will be slashed by 1.4 million that will incur up to PHP 187bn (USD 3.6bn) loss. Moreover, 30,000 to 50,000 jobs may be lost amid the COVID-19 threat.

The Philippines is one of the top 10 countries that are most dependent on tourism. According to official-esta.com, there are 83 jobs for every 100 tourists. It is estimated that the tourism industries in the Philippines contributed 12.7% to the country’s total GDP in 2018.

Meanwhile, an additional PHP 3.1bn (USD 60m) will be mobilized to contribute directly to efforts to stop the spread of COVID-19, including the acquisition of test kits. The funds came from the Philippine Amusement and Gaming Corp. (Pagcor), Philippine Charity Sweepstakes Office (PCSO) and the Asian Development Bank (ADB).

The country’s budget secretary Wendel Avisado said the allotments presented by the economic team are “tentative allocations” and the funds will be shifted to sectors where it is more needed or required.

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Plastic vs paper: Destinations that use cash and cards https://dev.traveldailymedia.com/destinations-that-use-cash-and-cards/ Wed, 26 Feb 2020 21:26:05 +0000 https://www.traveldailymedia.com/?p=538576 The post Plastic vs paper: Destinations that use cash and cards appeared first on TD (Travel Daily Media) Brand TD.

WeSwap research has revealed the top ten destinations for card and cash spending, based on the popularity of use across its 500,000-strong userbase.

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The rise in the use of card payments is not just seen in the UK but across Europe and North America. With more people relying heavily on their cards, mobiles, and contactless devices to pay, WeSwap research has revealed the top ten destinations for card and cash spending, based on the popularity of use across its 500,000-strong userbase.

Card Cash
Sweden – 81% Cambodia – 93%
Norway – 77% Lebanon – 88%
Finland – 71% Ecuador – 84%
USA – 71% Peru – 81%
Luxembourg – 70% Croatia – 77%
Denmark – 70% Japan – 77%
Czech Republic – 69% Greece – 74%
Canada – 69% Slovakia – 73%
Switzerland – 67% Montenegro – 72%
Mexico – 66% Thailand – 72%

Countries such as Sweden, Norway and Finland are top of the list for card use – who all frequently use debit and credit card from day-to-day. Sweden is well on its way to being a cashless society, with “no cash accepted” signs becoming a common occurrence in Swedish stores. Holidaymakers should be aware of this when travelling and not get caught out with plenty of krona but no card to spend it on.

In contrast, it is important to be aware that there are still many countries in Europe, such as Greece and Croatia, that do not use debit and credit cards as frequently. In this case, holidaymakers should plan when to buy their foreign currency in order to not get caught out by nasty ATM fees whilst abroad.

Rob Stross, CMO of WeSwap, said: “Although there are more and more countries working towards living in a cashless society, Brits must remember that there are still many countries both in Europe and the rest of the world that are still predominately cash-based. When withdrawing cash abroad, ATMs could charge you up to 5% for every transaction. So it is worth noting when going abroad which countries use cash more frequently and which use card in order to avoid paying unnecessary fees on ATM withdrawals of POS transactions. This way, holidaymakers can budget for their summer holidays effectively and spend wisely.”

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How did Airbus fare in 2019? https://dev.traveldailymedia.com/how-did-airbus-fare-in-2019/ Wed, 19 Feb 2020 10:27:03 +0000 https://www.traveldailymedia.com/?p=537471 The post How did Airbus fare in 2019? appeared first on TD (Travel Daily Media) Brand TD.

Airbus has reported full-year (FY) 2019 consolidated financial results and provided guidance for 2020. “We achieved a great deal in 2019. We delivered a strong underlying financial performance driven mainly by our commercial aircraft deliveries,” said Guillaume Faury, chief executive officer of Airbus. “The reported earnings also reflect the final agreements with the authorities resolving […]

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Airbus has reported full-year (FY) 2019 consolidated financial results and provided guidance for 2020. “We achieved a great deal in 2019. We delivered a strong underlying financial performance driven mainly by our commercial aircraft deliveries,” said Guillaume Faury, chief executive officer of Airbus.

“The reported earnings also reflect the final agreements with the authorities resolving the compliance investigations and a charge related to revised export assumptions for the A400M. The level of confidence in our ability to continue to deliver sustainable growth going forward has led to a dividend proposal of EUR 1.80 (USD 1.94) per share.” The focus in 2020 will be on reinforcing our company culture, improving operationally, and adjusting its cost structure to strengthen the financial performance and prepare for the future, he added.

“Strengthen financial performance.”

Net commercial aircraft orders increased to 768 aircraft (2018: 747 aircraft), including 32 A350 XWBs, 89 A330s and 63 A220s. At the end of 2019, the order backlog reached 7,482 commercial aircraft. Consolidated order intake in 2019 increased to EUR 81.2 billion (USD 87.72 billion) with the consolidated order book valued at EUR 471 billion (USD 508.80 billion) on 31 December 2019.

On the A320 programme, NEO aircraft deliveries rose by 43% year-on-year to 551 aircraft. The ramp-up continued for the Airbus Cabin Flex (ACF) version of the A321 with almost 100 more deliveries than in 2018.

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London’s Hamilton Hotel Partners and US hotel manager Pyramid merge to create USD 6.9 billion group https://dev.traveldailymedia.com/londons-hamilton-hotel-partners-and-us-hotel-manager-pyramid-merge-to-create-usd-6-9-billion-group/ Fri, 07 Feb 2020 03:00:51 +0000 https://www.traveldailymedia.com/?p=535637 The post London’s Hamilton Hotel Partners and US hotel manager Pyramid merge to create USD 6.9 billion group appeared first on TD (Travel Daily Media) Brand TD.

The Boards of Hamilton Hotel Partners, an independent London-based hotel management and investment firm, and Pyramid Hotel Group, a privately-owned full-service hotel and resort company based in Boston have announced that they have completed a transaction that involves the merger of the two businesses. The merger will create a leading international group that will manage […]

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The Boards of Hamilton Hotel Partners, an independent London-based hotel management and investment firm, and Pyramid Hotel Group, a privately-owned full-service hotel and resort company based in Boston have announced that they have completed a transaction that involves the merger of the two businesses.

The merger will create a leading international group that will manage or asset manage a total of 141 hotels with 32,000 rooms across 8 countries, and GBP 5.3 billion (USD 6.88 billion) of assets under management.

The merger will enable Hamilton to leverage Pyramid’s extensive institutional hotel management infrastructure and Pyramid will access Hamilton’s unrivalled hotel advisory, asset management and management experience and track record in Europe.

Post-merger Hamilton will continue to source hotel and resort transactions, co-invest with capital partners and manage hotels and resorts, while drawing on the strengths and experience of the Pyramid team. Both the brands will be retained for the foreseeable future.

Warren Fields, co-founder and CEO of Pyramid, will be the CEO of the combined group, with Frank Croston and Chris Evans continuing in their roles leading the Hamilton business.

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Illinois announces USD 1.9 million for tourism grant programme https://dev.traveldailymedia.com/illinois-announces-usd-1-9-million-for-tourism-grant-programme/ Wed, 05 Feb 2020 03:45:58 +0000 https://www.traveldailymedia.com/?p=535259 The post Illinois announces USD 1.9 million for tourism grant programme appeared first on TD (Travel Daily Media) Brand TD.

The Illinois Department of Commerce & Economic Opportunity (DCEO), Office of Tourism, has announced USD 1.9 million in grant funding for two tourism grant programmes designed to increase tourism across the state. Illinois welcomed a record 117 million visitors from around the world in 2018, resulting in USD 42 billion in visitor spending and generating […]

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The Illinois Department of Commerce & Economic Opportunity (DCEO), Office of Tourism, has announced USD 1.9 million in grant funding for two tourism grant programmes designed to increase tourism across the state.

Illinois welcomed a record 117 million visitors from around the world in 2018, resulting in USD 42 billion in visitor spending and generating USD 3.3 billion in tax revenue for the state and local communities.  The DCEO Office of Tourism’s grant programmes are funded entirely by the state’s hotel motel tax revenue.

“To grow overnight stays.”

“There’s a reason that Illinois is breaking records for tourism; it’s because communities throughout our state have so much to offer,” said governor JB Pritzker. “I’ll continue to be a proud advocate for everything that attracts people to Illinois and these tourism grants – entirely funded by visitors staying in our hotels and motels – play a significant role in supporting the tourism industry and its nearly 350,000 jobs.”

Developing new events and attractions is necessary to inspire new audiences to visit Illinois.  These grants will result in increased visitor spending in local communities across our state, generating revenue and creating jobs for our residents,” said Erin Guthrie, acting director of DCEO. The Tourism Attraction Grant Programme will help develop new or enhance existing tourism attractions to grow visitation and overnight stays in Illinois.

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Air India disinvestment process restarts https://dev.traveldailymedia.com/air-india-disinvestment-process-restarts/ Tue, 28 Jan 2020 03:00:34 +0000 https://www.traveldailymedia.com/?p=534343 The post Air India disinvestment process restarts appeared first on TD (Travel Daily Media) Brand TD.

The divestment of Air India has restarted with the government seeking to sell 100% of its equity share capital in the state-owned airline, including Air India’s shareholding interest of 100% in AI Express and 50% in Air India SATS Airport Services. The sale will be implemented through the open bidding route, with 17 March being […]

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The divestment of Air India has restarted with the government seeking to sell 100% of its equity share capital in the state-owned airline, including Air India’s shareholding interest of 100% in AI Express and 50% in Air India SATS Airport Services.

The sale will be implemented through the open bidding route, with 17 March being set as the deadline for interested parties to submit their bids. Unlike the previous failed bid to sell AI, this time the government has decided to off-load its entire stake. The government has also clarified that the net working capital is zero, which means that the Maharaja’s current assets are equal to its current liabilities.

In addition, potential bidders are to be provided with the draft share purchase agreement. To provide greater confidence to the bidders the government has also got a vendor due diligence done, people close to the development said.

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VLeisure hospitality tech now available to smaller hotels https://dev.traveldailymedia.com/vleisure-hospitality-tech-now-available-to-smaller-hotels/ Wed, 15 Jan 2020 05:30:36 +0000 https://www.traveldailymedia.com/?p=533004 The post VLeisure hospitality tech now available to smaller hotels appeared first on TD (Travel Daily Media) Brand TD.

VLeisure, the technology company and booking platform for hotels, airlines and travel insurance, announced that VLeisure Operating System (VOS) is now available to 2-star and 3-star hotels across Indochina. This latest announcement follows successful trials this year and increasing demand for the system in the region. VOS is a new ecosystem developed by the company […]

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VLeisure, the technology company and booking platform for hotels, airlines and travel insurance, announced that VLeisure Operating System (VOS) is now available to 2-star and 3-star hotels across Indochina. This latest announcement follows successful trials this year and increasing demand for the system in the region.

VOS is a new ecosystem developed by the company for small hotels with 40 rooms or less. This new suite of products provides opportunities for every hotelier to access a range of essential operating systems and apps that, until now, have only been affordable by larger hotels and chains.

It will help small hotels improve their direct bookings, distribution and management processes with a range of technology that include property management systems (PMS), revenue management, multilingual chatbots, channel manager and operation apps.

Phan Le, CEO and founder of VLeisure, said: “With VOS, there is no longer a ‘one man wins’ in hotel distribution. Since our trials this year, the demand for VOS has exceeded forecasts by over 40%. Hence, we are developing this ecosystem for new markets.”

It is now available in Indochina with content for hotels in Vietnam, Laos and Cambodia.

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etc.venues to invest USD 26 million in new event spaces https://dev.traveldailymedia.com/etc-venues-to-invest-usd-26-million-in-new-event-spaces/ Wed, 15 Jan 2020 03:00:36 +0000 https://www.traveldailymedia.com/?p=532986 The post etc.venues to invest USD 26 million in new event spaces appeared first on TD (Travel Daily Media) Brand TD.

Following strong growth in 2019, the conference, training and event venue specialists, etc.venues plans to invest a further GBP 20 million (USD 25.96 million) in new space in 2020 globally, adding three more venues to its portfolio. A further GBP 1 million (USD 1.30 million) will be spent on developing its online meeting technology. “We’re […]

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Nick Hoare

Following strong growth in 2019, the conference, training and event venue specialists, etc.venues plans to invest a further GBP 20 million (USD 25.96 million) in new space in 2020 globally, adding three more venues to its portfolio. A further GBP 1 million (USD 1.30 million) will be spent on developing its online meeting technology.

“We’re expecting to host more than one million delegates at 20,000 plus events in 2020,” said Nick Hoare, chief operating officer of etc.venues. This expansion will maintain the tremendous momentum it generated during a successful year in 2019 when it expanded globally.

The company invested GBP 15 million (USD 19.47 million), taking on two leases totalling 75,000 square feet in New York, and adding 20% more capacity in the UK increasing its venue space by 62,000 square feet. With this addition of 37 new meeting rooms in the UK, it now has 278 meeting rooms, more than the major hotel chains, in London.

By the end of 2020 its portfolio will feature 20 venues in London, Birmingham, Manchester and New York offering more than 300 meetings rooms and over 500,000 square feet of dedicated meeting and event space.

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Flight to success: Airbus delivers robust aircraft performance in 2019 https://dev.traveldailymedia.com/flight-to-success-airbus-delivers-robust-aircraft-performance-in-2019/ Tue, 14 Jan 2020 08:46:44 +0000 https://www.traveldailymedia.com/?p=532945 The post Flight to success: Airbus delivers robust aircraft performance in 2019 appeared first on TD (Travel Daily Media) Brand TD.

Airbus delivered 863 commercial aircraft to 99 customers in 2019, outpacing its previous output record set in 2018 by 8%. In the 17th yearly production increase in a row, it progressed on the transition to all NEO variants and by year end, it had delivered 173 wide-body aircraft, its highest number in a single year. […]

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The post Flight to success: Airbus delivers robust aircraft performance in 2019 appeared first on TD (Travel Daily Media) Brand TD.

Airbus delivered 863 commercial aircraft to 99 customers in 2019, outpacing its previous output record set in 2018 by 8%. In the 17th yearly production increase in a row, it progressed on the transition to all NEO variants and by year end, it had delivered 173 wide-body aircraft, its highest number in a single year.

The company also had a strong year of sales with a total of 1,131 new orders. Net orders reached 768, compared to 747 in 2018, underlining customer endorsements in all market segments and taking Airbus’ overall historical cumulative net orders over the 20,000 mark.

The A220 achieved 63 net orders, confirming it as the leading aircraft in its category. The A320 family continued its success with 654 net orders, including an outstanding market response for the new A321XLR.

At year end, the current Airbus wide-body offering comprised sales and repeat orders of 32 A350 family and 89 A330 family aircraft. Cancellations of 363 reflect specific airline situations in 2019 as well as the decision to end A380 production. At the turn of the year, its backlog stood at 7,482 aircraft.

“Our commercial aircraft order and delivery numbers reflect the continuous efforts to better serve our customers and bring our competitive products and services to the market,” said Guillaume Faury, chief executive officer of Airbus.

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The Funded: Spanish travel tech Beonprice raises USD 2.78 million for AI-driven hospitality revenue software https://dev.traveldailymedia.com/the-funded-spanish-travel-tech-beonprice-raises-usd-2-78-million-for-ai-driven-hospitality-revenue-software/ Fri, 10 Jan 2020 05:54:04 +0000 https://www.traveldailymedia.com/?p=532627 The post The Funded: Spanish travel tech Beonprice raises USD 2.78 million for AI-driven hospitality revenue software appeared first on TD (Travel Daily Media) Brand TD.

Spanish-based Beonprice has announced closure of a Series A funding round of EUR 2.5 million (USD 2.78 million) with venture capital fund Adara Ventures as the lead investor. Headquartered in Salamanca – with further offices in Madrid, Barcelona, Mexico City and Bogotá – the technology company plans to use the funds to enhance its product […]

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The post The Funded: Spanish travel tech Beonprice raises USD 2.78 million for AI-driven hospitality revenue software appeared first on TD (Travel Daily Media) Brand TD.

Spanish-based Beonprice has announced closure of a Series A funding round of EUR 2.5 million (USD 2.78 million) with venture capital fund Adara Ventures as the lead investor. Headquartered in Salamanca – with further offices in Madrid, Barcelona, Mexico City and Bogotá – the technology company plans to use the funds to enhance its product team, strengthen its leadership position in Spain and Latin America, and expand throughout Europe.

“Our aim is to lead and transform the revenue management strategy in the hospitality sector with artificial intelligence technology, which will help us double the product team and expand internationally,” said Rubén Sánchez, co-founder and CEO of Beonprice.

Nico Goulet, managing partner of Adara Ventures said: “Beonprice has experienced considerable growth since its inception, which makes it a very appealing investment. The team’s growth plans show high long-term potential, and we believe their product will lead the hotel industry thanks to its agility and innovation.”

Beonprice expects its customer-base to more than double in the next three years as hoteliers seek revenue management tools to improve distribution and booking productivity and manage complex rate calculations. The company is expanding its reach to give access to the hospitality industry to revenue management insights, a training academy and algorithms that react to market demand for dynamic rate setting to meet revenue and occupancy targets.

Founded in 2012, it works with over 2,000 properties in more than 30 countries, including international hotel brands such as Paradores, Catalonia, Hotelatelier, Iberostar, RIU, HM Resorts, Park Royal, Dreamplace, Hospes and Grupo Velas. “Our patented AI technology helps hotels maximise their revenue by finding the best rate based on a combination of ever-evolving consumer demand and market supply,” said Emilio Galán, co-founder and CTO of Beonprice.

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5 tips to save money on your 2020 holiday https://dev.traveldailymedia.com/5-tips-to-save-money-on-your-2020-holiday/ Thu, 09 Jan 2020 01:20:14 +0000 https://www.traveldailymedia.com/?p=532416 The post 5 tips to save money on your 2020 holiday appeared first on TD (Travel Daily Media) Brand TD.

From budgeting spending money to accommodation prices, travel money provider WeSwap unveils some ways you can save your money on this year's travels.

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With the January blues setting in, the weather getting worse and the New Year sales, now seems to be the perfect time to book your holiday for 2020.

From budgeting spending money to accommodation prices, travel money provider WeSwap unveils some ways you can save your money on this year’s travels.

Plan your holiday money

Do not wait for the last minute to exchange travel money, plan ahead. Do not fall victim to rip-off rates of merchants in airports. A research conducted by WeSwap reveals that on average we return back from our summer holidays with an excess GBP 90 per trip. It is better to know how much you need and add a little buffer and prepare the money in advance.

Shop around

For choosing an ideal hotel, the price has always been a prime factor. Before booking any hotel have a cross-check or comparison of the price with various other hotels. By doing this, you may come across hotels which provide the same facilities and accommodations but the price charged by them may vary a lot.

When it comes to price it is believed the high costs may tend to offer a lot better experience. But that’s not always the case. Sometimes you may get beautiful and outstanding staying experience at cost-effective prices. Also, booking your desired hotel early may save a lot of your money through the benefits of early-booking rates.

Don’t get stung by ATM fees

As Britain continues to move further towards a cashless society, it is easy to forget that many countries we visit continue to use cash more frequently than card. The increasing problem for holidaymakers is knowing exactly how to spend their holiday money when abroad.

It is important to ensure you are getting the best rates for your money as well as using a travel card that doesn’t come with hidden charges such as ATM fees and transaction fees. By researching travel cards, holidaymakers can travel safely in the knowledge that purchasing travel insurance will not take them over their budgets.

Avoid scams

According to research by the Association of British Travel Agents (ABTA), 5,000 British tourists lost more than GBP 7 million to travel-related scams after purchasing counterfeit airline tickets, accommodation and organised tours. If you are ever unsure about purchasing, don’t act. A genuine company will never rush you to take action, so be aware of fraudsters trying to hurry you into making a purchase. Secondly, if you are using a card, always make sure your mobile telephone number and email address registered with the card provider is up to date.

Don’t waste your leftover money

According to WeSwap research, GBP 819m worth of foreign currency sits in kitchen drawers and piggy banks across the nation and only 9% of Brits change back their leftover currency. This results in Brits being GBP 2.5 billion out of pocket for other holidays throughout the year.

Research has shown that only 10% of us use our leftover holiday money to buy gifts or souvenirs and a mere 9% of people change their money back. Although purchasing products at duty-free is one option, WeSwap customers are able to send back spare foreign currency notes they have remaining following their holidays. The travel money provider then converts the currency back into GBP and puts it straight back onto the customer’s WeSwap account within a speedy three working days.

Rob Stross, CMO of WeSwap, said: “When it comes to holidays, there is always a lot to think about and quite often, things such as holiday money or insurance often fall to the bottom of the list of holidaymakers’ things to do. For those who are looking to book their 2020 holiday, it pays to be aware of pitfalls which could result in you paying a lot more than you had anticipated and know where you can save money.”

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Aparthotel operator scores funding for growth https://dev.traveldailymedia.com/aparthotel-operator-scores-funding-for-growth/ Wed, 08 Jan 2020 05:28:05 +0000 https://www.traveldailymedia.com/?p=532232 The post Aparthotel operator scores funding for growth appeared first on TD (Travel Daily Media) Brand TD.

Aparthotel operator Staycity Group has revealed a positive trading year for 2019 with record occupancies across its estate and a number of key property openings, including its first resort-style destination. The Dublin-based group, which now operates nearly 3,000 apartments across 12 European cities, has also announced a new financing deal negotiated with Dunport Capital, giving […]

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Tom Walsh, co-founder and CEO of Staycity Group

Aparthotel operator Staycity Group has revealed a positive trading year for 2019 with record occupancies across its estate and a number of key property openings, including its first resort-style destination.

The Dublin-based group, which now operates nearly 3,000 apartments across 12 European cities, has also announced a new financing deal negotiated with Dunport Capital, giving it a EUR 22.5 million (USD 25.07 million) flexible loan facility to support the group’s ongoing growth plans.

“The year was a challenging one, particularly in the UK where confidence has been fragile due to Brexit uncertainty,” said Wayne Arthur, chief financial officer of Staycity Group. “Despite these challenges we delivered a record like-for-like occupancy of 87.3% and are delighted to have signed a new loan facility with Dunport Capital, after five years of support from Proventus, which has secured Staycity with a flexible, seven-year loan as well as significant interest savings and a supportive Dublin-based partner.”

“15,000 apartments by 2024.”

Tom Walsh, co-founder and CEO of Staycity Group added: “We’ve also gained our strongest ever guest satisfaction scores. We are on target to deliver revenues of over EUR 100 million (USD 111.44 million) in 2020 along with continued profit growth. The new year will see us work towards our target of operating 15,000 apartments by 2024.”

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Huazhu completes Deutsche Hospitality deal https://dev.traveldailymedia.com/huazhu-completes-deutsche-hospitality-deal/ Mon, 06 Jan 2020 04:24:10 +0000 https://www.traveldailymedia.com/?p=531712 The post Huazhu completes Deutsche Hospitality deal appeared first on TD (Travel Daily Media) Brand TD.

Huazhu Group, a leading and fast-growing hotel group, has announced the closing of the acquisition of all shares in Steigenberger Hotels Aktiengesellschaft, Germany or popularly called Deutsche Hospitality. In connection with the acquisition, China Lodging Holdings (HK), a subsidiary of the company, has signed a EUR 440,000,000 (USD 491,590,000) term facility and USD 500,000,000 revolving […]

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Huazhu Group, a leading and fast-growing hotel group, has announced the closing of the acquisition of all shares in Steigenberger Hotels Aktiengesellschaft, Germany or popularly called Deutsche Hospitality.

In connection with the acquisition, China Lodging Holdings (HK), a subsidiary of the company, has signed a EUR 440,000,000 (USD 491,590,000) term facility and USD 500,000,000 revolving credit facility agreement for a term of three years with a bank consortium led by JPMorgan Chase Bank, NA, acting through its Hong Kong Branch, Deutsche Bank, Singapore and Morgan Stanley Senior Funding to fund the payment of all amounts payable under or in connection with the acquisition.

The balance under the facilities agreement will be used, among other things, for the general corporate and working capital purposes of the company and its subsidiaries.

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Delta completes 20% purchase of LATAM https://dev.traveldailymedia.com/delta-completes-20-purchase-of-latam/ Thu, 02 Jan 2020 00:00:19 +0000 https://www.traveldailymedia.com/?p=531488 The post Delta completes 20% purchase of LATAM appeared first on TD (Travel Daily Media) Brand TD.

Delta has completed its purchase of a 20% equity stake in LATAM Airlines Group. The USD 1.9 billion acquisition comes pursuant to the partnership the carriers announced in September. “Equity investments like this help create alignment within our partnerships as we bring together our brands, enabling us to provide the very best service and reliability […]

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Delta has completed its purchase of a 20% equity stake in LATAM Airlines Group. The USD 1.9 billion acquisition comes pursuant to the partnership the carriers announced in September.

“Equity investments like this help create alignment within our partnerships as we bring together our brands, enabling us to provide the very best service and reliability for our shared customers,” said Steve Sear, president of international at Delta.

The carriers plan to begin code sharing during the first quarter of 2020 on up to 51 onward LATAM destinations in South America from Colombia, Ecuador and Peru and on up to 74 onward Delta destinations in the US from Miami, New York, Los Angeles and Orlando.

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Why you need to i(e)nsure your travel this season https://dev.traveldailymedia.com/why-you-need-to-iensure-your-travel-this-season/ Tue, 24 Dec 2019 09:52:46 +0000 https://www.traveldailymedia.com/?p=530976 The post Why you need to i(e)nsure your travel this season appeared first on TD (Travel Daily Media) Brand TD.

India has seen around four million new outbound travellers in the last two years and is one of the fastest growing outbound tourism markets in the world. Vivek Chaturvedi, head of marketing and direct online sales at Digit Insurance talks about the growing potential of travel insurance and the need to relook at the existing […]

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The post Why you need to i(e)nsure your travel this season appeared first on TD (Travel Daily Media) Brand TD.

India has seen around four million new outbound travellers in the last two years and is one of the fastest growing outbound tourism markets in the world. Vivek Chaturvedi, head of marketing and direct online sales at Digit Insurance talks about the growing potential of travel insurance and the need to relook at the existing ones to make sure they are made from the point of view of real benefits, designed for online savvy millennials.

TD: What has been the growth in the scope of travel insurance in India in the last two years?

Despite the economic slowdown, the Indian outbound numbers have been growing at 10-12% in the last few years. Even in the domestic segment, we have seen a 16% increase in travel spending. This shows how the country is getting more and more mobile, especially with new people climbing up the economic ladder and increasing their appetite for travel. This phenomenon automatically indicates the growing scope for travel insurance products.

Vivek Chaturvedi

New trends you see in the market?

Luxury adventure

Today luxury is not just about chilling at a resort, it is venturing out with some luxury. So, when people do that, they now need a travel insurance that can cover them in case of any adventure leisure activity as well. If you see in India, there are not many products that include adventure activities, even if done for a single time in the trip. Therefore, the changing wave is to include such benefits.

Solo travel

This is not very recent but has been happening since a few years now, the number of solo travellers, across gender, region, lifestage, are increasing. This warrants for insurance products that can comfort them in need. For instance, we have a compassionate family visit cover that makes sure if a person is alone and is hospitalised during their travel and the doctor advises that a family person should be with them during their treatment, we can arrange for that person’s visit.

The BnB culture

We have all seen the BnB (bed and breakfast) buzz catch on the entire world, so has been for Indians. And given that we are now staying with strangers, insurance has to cover losses in case of a personal liability towards a damage to a third-party (BnB owner for instance). Therefore, we are seeing the interest of travellers in taking insurance policies with covers like personal liability and bail bond.

What about insurance concerns of the budget traveller?

We fit our own stereotype of ‘Maximising Indian Travellers’ and we are proud of that. Insurance is evolving with facilities that can help budget travellers in foreign lands, for example Digit’s missed call in case of an issue while travelling is a big boon for people, making sure they are not spending huge amounts of their phone bills while calling their insurer.

How have you positioned yourself in the travel insurance industry in India?

We are on a mission to ‘Make insurance, simple’. We are focussed on mapping what the consumer needs to create products that suit their changing needs. We have made the entire buying and claiming process 100% paperless. Our claims are automated for a lot of benefits such as flight delay benefit process.

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Towards seamless payments: FXChange and Wirecard join hands https://dev.traveldailymedia.com/towards-seamless-payments-fxchange-and-wirecard-join-hands/ Mon, 23 Dec 2019 07:04:47 +0000 https://www.traveldailymedia.com/?p=530767 The post Towards seamless payments: FXChange and Wirecard join hands appeared first on TD (Travel Daily Media) Brand TD.

Wirecard, the provider of digital financial technology and FXChange, self-service currency exchange network in Singapore, are collaborating to provide outbound and inbound travellers in the country with simple and flexible digital payment options. The companies are launching multi-currency Visa cards and a corresponding app which will offer travellers the chance to combine payment with the […]

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Wirecard, the provider of digital financial technology and FXChange, self-service currency exchange network in Singapore, are collaborating to provide outbound and inbound travellers in the country with simple and flexible digital payment options.

The companies are launching multi-currency Visa cards and a corresponding app which will offer travellers the chance to combine payment with the possibility to earn and redeem points at hotels, eateries and other amenities. Wirecard will issue and manage the payment solution via its digital platform. Travellers benefit from a seamless customer journey – from exchanging and loading currencies at self-service kiosks, to paying fully digitally at any of the 61 million Visa merchant locations worldwide.

The Singapore-based FXChange operates automated self-service currency exchange machines, also known as FXC kiosks, that enables travellers to exchange foreign currencies for Singapore dollars. Licensed by the Monetary Authority of Singapore, it provides currency exchange via more than 100 self-service kiosks across major hotel groups and tourism hotspots in Singapore.

Chan Han Zong, chief operating officer of FXChange said: “With this, consumers can make cashless payments abroad at competitive foreign exchange rates, and gain access to our network of forex kiosks to withdraw and deposit foreign currencies.”

Grigoriy Kuznetsov, executive vice president of global financial services at Wirecard said: “We’re supporting FXChange to provide a one-stop solution to travellers who are increasingly turning to a cashless society.”

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Marriott acquires W New York Union Square in USD 206 million deal https://dev.traveldailymedia.com/marriott-acquires-w-new-york-union-square-in-usd-206-million-deal/ Tue, 22 Oct 2019 09:56:46 +0000 https://www.traveldailymedia.com/?p=525884 The post Marriott acquires W New York Union Square in USD 206 million deal appeared first on TD (Travel Daily Media) Brand TD.

Marriott International has purchased the 270-room W New York – Union Square in the heart of Manhattan’s dynamic Union Square neighbourhood. The company paid USD 206 million for the property, with plans for a significant renovation. The hotel chain will transform the existing hotel into a cutting-edge W Hotels showcase, advancing the company’s strategy to […]

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Marriott International has purchased the 270-room W New York – Union Square in the heart of Manhattan’s dynamic Union Square neighbourhood. The company paid USD 206 million for the property, with plans for a significant renovation.

The hotel chain will transform the existing hotel into a cutting-edge W Hotels showcase, advancing the company’s strategy to redefine and reinvigorate the brand in North America. “There’s no better place than New York City to reveal to the world the future of our W Hotels brand, so we’re tremendously excited about this acquisition and the unique opportunity that it presents for our reinvention strategy,” said Arne Sorenson, chief executive of Marriott International.

Located at 201 Park Avenue South, the 20-storey hotel features historic Beaux Arts architecture, panoramic views of Union Square’s namesake pedestrian plaza and lively park. The property first opened its doors in 1911 as the headquarters of the Guardian Life Insurance Company of America, and in 2000 opened as W New York – Union Square, becoming an anchor for locals and out-of-town guests, alike.

The renovation seeks to unlock the property’s untapped potential with plans for a signature spa and an expanded restaurant on one of New York City’s most bustling street corners. The plan also includes the recent opening of W Aspen – the brand’s first alpine destination in the US, and the anticipated 2020 debuts of W hotels in Philadelphia and Toronto.

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Holiday Extras acquires City Hotel Reservations https://dev.traveldailymedia.com/holiday-extras-acquires-city-hotel-reservations/ Fri, 18 Oct 2019 07:46:39 +0000 https://www.traveldailymedia.com/?p=525484 The post Holiday Extras acquires City Hotel Reservations appeared first on TD (Travel Daily Media) Brand TD.

Holiday Extras, the UK market leader in holiday extras such as airport parking, airport hotels, lounges and travel insurance, announced the acquisition of airport hotel and parking specialists City Hotel Reservations (CHR). Established in 2003, CHR has been a partner of 36-year-old Holiday Extras for more than five years, and operates airport hotel and parking […]

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Holiday Extras, the UK market leader in holiday extras such as airport parking, airport hotels, lounges and travel insurance, announced the acquisition of airport hotel and parking specialists City Hotel Reservations (CHR).

Established in 2003, CHR has been a partner of 36-year-old Holiday Extras for more than five years, and operates airport hotel and parking websites. Over the last two years the group has built or acquired relevant airport hotel and parking specialist assets, including Purple Parking’s brand and website and the world’s leading provider of parking software, Chauntry, in November 2017.

Combined with its consumer brand in the UK and Germany, airport car park operator Airparks and parking technology specialist Park-IT, the group has built and acquired a portfolio of complementary assets that help to meet its strategic objectives.

Matthew Pack, group CEO of Holiday Extras said: “We’ve worked with the team at CHR for more than five years to supply airport hotel and parking inventory, and during that time we’ve been impressed with their strong customer service record and the quality of the online customer experience. Their websites are therefore a natural fit for our business.”

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CRISIL keeps Thomas Cook India credit rating unchanged https://dev.traveldailymedia.com/crisil-keeps-thomas-cook-india-credit-rating-unchanged/ Mon, 14 Oct 2019 11:00:04 +0000 https://www.traveldailymedia.com/?p=524470 The post CRISIL keeps Thomas Cook India credit rating unchanged appeared first on TD (Travel Daily Media) Brand TD.

The CRISIL credit rating rationale has assigned Thomas Cook India (TCIL) corporate credit rating of ‘CCR AA-’. Additionally, CRISIL has reaffirmed its ratings on the debt programmes and bank facilities of TCIL at ‘CRISIL AA-/Stable/CRISIL A1+’. This announcement further reflects that the ratings of TCIL. remain unaffected as the bankruptcy of Thomas Cook in the […]

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The post CRISIL keeps Thomas Cook India credit rating unchanged appeared first on TD (Travel Daily Media) Brand TD.

The CRISIL credit rating rationale has assigned Thomas Cook India (TCIL) corporate credit rating of ‘CCR AA-’. Additionally, CRISIL has reaffirmed its ratings on the debt programmes and bank facilities of TCIL at ‘CRISIL AA-/Stable/CRISIL A1+’. This announcement further reflects that the ratings of TCIL. remain unaffected as the bankruptcy of Thomas Cook in the UK has no linkage with Thomas Cook India.

The ratings continue to reflect the group’s healthy business risk profile, driven by a dominant position in the forex business and strong brand equity in travel-related services; comfortable capital structure; and strong liquidity.

Madhavan Menon, chairman and managing director of TCIL said: “CRISIL’s assigned and reaffirmed ratings continue to reiterate the strong leadership and financial position of the independent Thomas Cook India Group since its acquisition by Fairfax Financial Holdings in 2012.The report further highlights key strengths including its dominant position in the forex business and strong brand equity in travel-related services along with its comfortable capital structure.”

CRISIL CCR is a globally recognised rating of an issuer, indicating its degree of strength and ability to honour its debt obligations. Previously, on September 26, 2019, CRISIL’s credit bulletin, which was communicated to TCIL and uploaded on its portal, had presented a stable outlook for the debt programmes and bank facilities of TCIL, with its ratings remaining unaffected by the bankruptcy of Thomas Cook in the UK.

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OYO to raise USD 1.5 billion in new round of financing https://dev.traveldailymedia.com/oyo-to-raise-usd-1-5-billion-in-new-round-of-financing/ Thu, 10 Oct 2019 09:20:42 +0000 https://www.traveldailymedia.com/?p=523470 The post OYO to raise USD 1.5 billion in new round of financing appeared first on TD (Travel Daily Media) Brand TD.

OYO Hotels and Homes will be raising USD 1.5 billion as part of a latest round of funding which will be utilised for expansion in the US and strengthen its vacation rentals business in Europe. As part of a Series-F funding, RA Hospitality Holdings will infuse approximately USD 700 million as primary capital in the […]

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OYO Hotels and Homes will be raising USD 1.5 billion as part of a latest round of funding which will be utilised for expansion in the US and strengthen its vacation rentals business in Europe. As part of a Series-F funding, RA Hospitality Holdings will infuse approximately USD 700 million as primary capital in the company, with the balance USD 800 million being supplemented by other existing investors, OYO said in a statement.

A significant part of the funds will be diverted towards continued growth in OYO’s fastest-growing market – the US, and in strengthening the company’s position in the vacation rentals business in Europe, it added.

Ritesh Agarwal, founder and CEO at OYO Hotels and Homes said: “With the Competition Commission of India (CCI) approval now in place, the company will get a capital infusion of approximately USD 1.5 billion for this mission, supported by me and other shareholders,” he added.

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Gamechanger deal: Thomas Cook’s 555 shops to be bought by Hays https://dev.traveldailymedia.com/gamechanger-deal-thomas-cooks-555-shops-to-be-bought-by-hays/ Wed, 09 Oct 2019 10:07:13 +0000 https://www.traveldailymedia.com/?p=523308 The post Gamechanger deal: Thomas Cook’s 555 shops to be bought by Hays appeared first on TD (Travel Daily Media) Brand TD.

Thomas Cook

All 555 Thomas Cook shops are to be bought by rival Hays Travel in a move that could save up to 2,500 jobs.

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The post Gamechanger deal: Thomas Cook’s 555 shops to be bought by Hays appeared first on TD (Travel Daily Media) Brand TD.

Thomas Cook

Thomas Cook

All 555 Thomas Cook shops are to be bought by rival Hays Travel in a move that could save up to 2,500 jobs. The independent travel agent is buying the shops from the official receiver, which was appointed when Thomas Cook collapsed last month. Sunderland-based Hays said it planned to reopen all the shops with immediate effect.

Hays has already offered jobs to 600 Thomas Cook staff and it plans to hire more as part of its rapid expansion. The move is a significant step for Hays, which currently has 190 shops across the UK.

John Hays, who set up the company 40 years ago, said: “It is a gamechanger for us, almost trebling the number of shops we have and doubling our workforce — and for the industry, which will get to keep some of its most talented people.” He and his wife Irene own the business which has 1,900 staff and last year had sales of GBP 1 billion (USD 1.22 billion).

Irene Hays, chair of Sunderland-based Hays said: “Thomas Cook was a much-loved brand and a pillar of the UK and the global travel industry. We will build on the good things it had — not least its people — and that will put us in even better stead for the future.”

“We will build on the good things it had”

More than 100 new jobs will be based at the company’s Sunderland headquarters, with the rest in shops across the UK. When Thomas Cook collapsed, it put 22,000 jobs at risk worldwide, including 9,000 in the UK. It also sparked the biggest ever peacetime repatriation by Civil Aviation Authority to bring more than 150,000 British holidaymakers back to the UK. The last flight to repatriate Thomas Cook customers landed at Manchester Airport this week on Monday.

David Chapman, the official receiver described the sale to Hays Travel as an ‘important step’ in unravelling the 178-year-old chain. The business is thought to have a licence for six months to occupy Thomas Cook stores, giving Hays time to strike new deals with landlords.

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CoStar Group to acquire STR https://dev.traveldailymedia.com/costar-group-to-acquire-str/ Fri, 04 Oct 2019 02:08:43 +0000 https://www.traveldailymedia.com/?p=522787 The post CoStar Group to acquire STR appeared first on TD (Travel Daily Media) Brand TD.

CoStar Group, a provider of commercial real estate information and analytics, has entered into an agreement to acquire STR, a leader in data benchmarking, analytics and marketplace insights for global hospitality sectors. “The STR team has built an extraordinary company that partners with the hotel industry to create benchmarks and analytics that are the primary […]

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The post CoStar Group to acquire STR appeared first on TD (Travel Daily Media) Brand TD.

CoStar Group, a provider of commercial real estate information and analytics, has entered into an agreement to acquire STR, a leader in data benchmarking, analytics and marketplace insights for global hospitality sectors.

“The STR team has built an extraordinary company that partners with the hotel industry to create benchmarks and analytics that are the primary tools hotel management and investors rely on to optimise and improve their assets,” said Andrew C. Florance, founder and CEO of CoStar Group.

STR has been a private, family-owned company since its 1985 founding as then ‘Smith Travel Research’ by Randy and Carolyn Smith. The Smith family also maintained majority ownership in STR’s international entity. Overall, STR employs 370 team members in 15 countries.

“The growth and success of STR far exceeded the expectations we had in place 34 years ago,” said Randy Smith, chairman and co-founder of STR.

The hotel industry has been the cornerstone of STR’s business from its founding. Today, the company reports on data from 66,000 hotels representing 8.9 million rooms in 180 countries. The transaction, valued at USD 450 million in cash, is expected to close in the fourth quarter of 2019, subject to customary closing conditions.

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EbixCash buys corporate travel business of Cox & Kings https://dev.traveldailymedia.com/ebixcash-buys-corporate-travel-business-of-cox-kings/ Wed, 02 Oct 2019 21:20:50 +0000 https://www.traveldailymedia.com/?p=522610 The post EbixCash buys corporate travel business of Cox & Kings appeared first on TD (Travel Daily Media) Brand TD.

EbixCash has acquired the corporate travel business from Cox & Kings for an undisclosed amount. This is its second acquisition in recent months, after its purchase of Yatra.com. The company said it has signed a deal with Cox & Kings to transfer its business travel agreements to the EbixCash’s Mercury Travel division. “Under the agreement, […]

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EbixCash has acquired the corporate travel business from Cox & Kings for an undisclosed amount. This is its second acquisition in recent months, after its purchase of Yatra.com.

The company said it has signed a deal with Cox & Kings to transfer its business travel agreements to the EbixCash’s Mercury Travel division.

“Under the agreement, key employees of Cox & Kings will be transferred to the EbixCash payroll, with immediate effect. This transfer agreement is part of EbixCash’s efforts to double its revenues from the corporate travel sector by the end of this financial year, from the previous year,” said EbixCash.

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VLeisure unveils new credit service, empowers agents https://dev.traveldailymedia.com/vleisure-unveils-new-credit-service-empowers-agents/ Thu, 26 Sep 2019 01:00:13 +0000 https://www.traveldailymedia.com/?p=521113 The post VLeisure unveils new credit service, empowers agents appeared first on TD (Travel Daily Media) Brand TD.

VLeisure, the one-stop B2B travel marketplace connecting travel agents with inventory in over 147 countries, has announced a new credit service that will empower travel buyers. Using VLeisure credit, agencies will be able to buy products from the company’s portfolio of hotels, airline tickets and travel insurance through VLeisure’s latest payment system. Credit members will […]

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VLeisure, the one-stop B2B travel marketplace connecting travel agents with inventory in over 147 countries, has announced a new credit service that will empower travel buyers.

Using VLeisure credit, agencies will be able to buy products from the company’s portfolio of hotels, airline tickets and travel insurance through VLeisure’s latest payment system. Credit members will have access to a virtual card which provides immediate credit to buy products and services from the VLeisure global marketplace. Funds are managed seamlessly using e wallet, with a choice of flexible repayment options. This credit service will free up agency capital enabling them to finance other parts of the business, such as marketing and sales.

Phan Le, CEO of VLeisure said: “The travel ecosystem traditionally operates on a book now, pay now basis. This is a fixed system which does not offer any flexibility for agents.  Smaller agents often have to shift funds around to finance client orders, which means that other parts of the business, such as sales and marketing, are often underfunded. By providing credit at times when they need it most, we are providing agencies with greater control.”

VLeisure credit includes a loyalty programme where members can accumulate points for special deals and new destinations.

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Wirecard and OYO join hands for hassle-free bookings https://dev.traveldailymedia.com/wirecard-and-oyo-join-hands-for-hassle-free-bookings/ Thu, 22 Aug 2019 09:06:35 +0000 https://www.traveldailymedia.com/?p=517488 The post Wirecard and OYO join hands for hassle-free bookings appeared first on TD (Travel Daily Media) Brand TD.

Wirecard, the global innovation company for digital financial technology and OYO, the hospitality business chain, have announced that they are exploring collaboration opportunities to provide a suite of financial services to make payments for OYO hotels and home bookings seamless and hassle-free across several regions in the world, notably, South-East Asia, Europe, UK and the […]

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Wirecard, the global innovation company for digital financial technology and OYO, the hospitality business chain, have announced that they are exploring collaboration opportunities to provide a suite of financial services to make payments for OYO hotels and home bookings seamless and hassle-free across several regions in the world, notably, South-East Asia, Europe, UK and the US.

OYO is a constituent of the SoftBank Vision Fund which facilitated the introduction to Wirecard. As part of the collaboration, Wirecard will look to enable OYO with a wide range of digital financial commerce related services including payment acceptance and issuance for OYO’s booking services – online, mobile and point-of-sale (POS)– as well as enabling it to leverage Wirecard’s banking-as-a platform capabilities that include lending and loyalty to ensure guests booking an OYO hotel have a hassle-free payment experience.

“Create value-added offerings.”

OYO provides quality living spaces for business and leisure travellers by leveraging its core capabilities of broad reach and efficient renovations, superior guest experiences, technology-based operations and independent distributions. Currently, OYO has an international presence with its hotels and homes business spread across the Indian subcontinent, China, South-East Asia, UAE, Saudi Arabia, Europe, the US and many other countries with a portfolio that comprises more than 23,000 hotels and 125,000+ vacation homes in 800 cities in 80 countries.

“By easing the booking experience for our customers around the world and helping create value-added offerings, Wirecard can help us come closer to our goal of becoming the most preferred and trusted hospitality brand in the world,” said Maninder Gulati, chief strategy officer at OYO.

“The future of the travel industry is digital, with unified, integrated customer experiences across all channels – and this includes smooth and reliable digital financial processes such as we intend to provide to OYO around the world,” said Georg von Waldenfels, executive vice president of business development at Wirecard.

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Sansiri raises stake in Standard International to drive expansion in Thailand https://dev.traveldailymedia.com/sansiri-raises-stake-in-standard-international-to-drive-expansion-in-thailand/ Thu, 22 Aug 2019 08:54:20 +0000 https://www.traveldailymedia.com/?p=517465 The post Sansiri raises stake in Standard International to drive expansion in Thailand appeared first on TD (Travel Daily Media) Brand TD.

Sansiri, Thailand’s leading real estate developer, announced its investment to increase its shareholding in Standard International Holdings (SIH), the parent company of The Standard, an American hotel brand, from 37.26% to 59.02%. Optimistic about The Standard’s potential for rapid global growth, the companies have aligned on an ambitious expansion plan to grow The Standard footprint […]

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Standard Hotel in Manhattan

Sansiri, Thailand’s leading real estate developer, announced its investment to increase its shareholding in Standard International Holdings (SIH), the parent company of The Standard, an American hotel brand, from 37.26% to 59.02%.

Optimistic about The Standard’s potential for rapid global growth, the companies have aligned on an ambitious expansion plan to grow The Standard footprint to 25 open hotels in the next five years including four properties in Thailand in Koh Samui, Phuket, Pattaya and Hua Hin, as well as locations in Milan, Paris, Lisbon, Bordeaux, Mexico City, Jakarta, Melbourne and Chicago.

Wanchak Buranasiri, chief financial officer at Sansiri said: “Since Sansiri’s investment in Standard International in November 2017, we have jointly taken part in developing a growth plan that capitalises on the positive global travel and lifestyle trends. The global hotel market is projected to double its growth rate with hotel revenues estimated to grow 7.8% annually over the next five years. The lifestyle and boutique hotel segment, where The Standard is positioned, is the fastest growing segment within the industry.”

Amar Lalvani, CEO of Standard International

Sansiri has approved in principle Sansiri (US) acquisition in associate company, Standard International Holdings, in the proportion of 21.76% with the total amount of USD 40.45 million. After the investment transaction, Sansiri (US) shareholding in SIH has increased from 37.26% to 59.02% and SIH is now a direct subsidiary of Sansiri (US) as well as an indirect subsidiary, he added.

In less than two years after Sansiri acquired shares in its business, Standard International has announced its global expansion plans that will see 25 Standard hotels open across the world in the next five years.

In July, the hotel chain celebrated the launch of its first property outside the US, with The Standard, London in the King’s Cross neighborhood. In Fall of 2019, The Standard is set to open its first resort in Huruvalhi, Maldives.

Amar Lalvani, CEO of Standard International said: “Standard International is now truly international with the launch of our first hotels in Europe and Asia. With the support and investment from Sansiri, we are well positioned to capitalise on the rapidly growing overseas markets and are on pace to have 25 hotels open over the next five years.”

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Standard Hotel, July 2009 Standard Hotel, July 2009, Location: Manhattan, New York Architect: Polshek Partnership Amar Lalvani_CEO_Standard International
Ctrip gets nod for acquisition of 42.5% stake in MakeMytrip https://dev.traveldailymedia.com/ctrip-gets-nod-for-acquisition-of-42-5-stake-in-makemytrip/ Wed, 21 Aug 2019 11:57:52 +0000 https://www.traveldailymedia.com/?p=517316 The post Ctrip gets nod for acquisition of 42.5% stake in MakeMytrip appeared first on TD (Travel Daily Media) Brand TD.

Indian regulator Competition Commission of India (CCI) has approved the acquisition of 42.5% of outstanding voting shares in MakeMyTrip by Chinese online travel agency (OTA) Ctrip. Ctrip holds nearly half of the Indian online travel firm after this acquisition. Ctrip has acquired the additional stake in MakeMyTrip in a swap deal with South Africa-based Naspers […]

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Indian regulator Competition Commission of India (CCI) has approved the acquisition of 42.5% of outstanding voting shares in MakeMyTrip by Chinese online travel agency (OTA) Ctrip.

Ctrip holds nearly half of the Indian online travel firm after this acquisition. Ctrip has acquired the additional stake in MakeMyTrip in a swap deal with South Africa-based Naspers which received a 5.6% stake in Ctrip in exchange. The transaction values MakeMyTrip at over USD 2.57 billion.

Ctrip’s earlier stake in MakeMyTrip came through a USD 180 million investment in convertible bonds in January 2016.

Deep Kalra, chairman and group CEO of MakeMyTrip had said in April that the company would look to leverage the investment by Ctrip to benefit from the growth potential in travel and tourism between India and China.

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Genting Hong Kong secures USD 2.88 billion financing for Dream Cruises’ two new ships https://dev.traveldailymedia.com/genting-hong-kong-secures-usd-2-88-billion-financing-for-dream-cruises-two-new-ships/ Mon, 19 Aug 2019 07:49:28 +0000 https://www.traveldailymedia.com/?p=516888 The post Genting Hong Kong secures USD 2.88 billion financing for Dream Cruises’ two new ships appeared first on TD (Travel Daily Media) Brand TD.

Genting Hong Kong (GHK) announced that it has signed loan agreements of EUR 2.6 billion (USD 2.88 billion) with a consortium led by KfW IPEX-Bank for construction and post-delivery financing for Dream Cruises’ two new global class ships. The financing package will be backed by export credit guarantees of the Federal Republic of Germany and […]

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Genting Hong Kong (GHK) announced that it has signed loan agreements of EUR 2.6 billion (USD 2.88 billion) with a consortium led by KfW IPEX-Bank for construction and post-delivery financing for Dream Cruises’ two new global class ships.

The financing package will be backed by export credit guarantees of the Federal Republic of Germany and the Finnish export credit agency Finnvera, as well as by a guarantee from the state of Mecklenburg-Western Pomerania. At an overall cost of EUR 3.1 billion (USD 3.44), the two new vessels are currently being built at GHK owned MV Werften in Germany.

“To be launched at IBTM China.”

The ships have been designed for the fast-growing Asian cruise market, which will see the largest increase in the number of middle-income households in the world over the next decade.

Tan Sri KT Lim, chairman and chief executive of Genting Hong Kong said: “Dream Cruises’ focus now is to launch the Global Class ships at IBTM China in Beijing on 28 August, building on the foundation established by Explorer Dream in East and North China this year.”

The Global Class ships will also be the largest cruise ships ever built in Germany and the world’s largest cruise ships in terms of passenger capacity. Each 204,000 gross ton ship will feature 2,500 suites and cabins providing 5,000 lower berths. Accommodating up to four passengers in each cabin, the ships will have a maximum capacity of up to 9,000 passengers, serviced by 2,500 crew during peak holiday seasons.

The two Global Class ships will enter into service in early 2021 and early 2022, joining the current Dream Cruises fleet of three vessels. Both Dream Cruises’ Genting Dream and World Dream have been recognised as two of the top 10 large cruise ships by the Berlitz Guide to Cruising 2019 and are the only two highest-rated cruise ships to be deployed in Asia.

Dream Cruises’ third ship, Explorer Dream, commenced service this year in Eastern and Northern China and has enjoyed record occupancies. At the end of the year, Explorer Dream will be repositioned to Australia and New Zealand for Asian sourced passengers who are looking to escape the northern cold winter to enjoy summer cruises in the southern hemisphere.

By 2022, Dream Cruises will consist of five ships that will be the youngest and most modern fleet in the world. The only global cruise line with all “Made in Germany” cruise ships, Dream Cruises’ fleet features the highest safety standards, build quality, speed, power and luxury finishes.

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Travel Money and YES Bank launch forex card https://dev.traveldailymedia.com/travel-money-and-yes-bank-launch-forex-card/ Fri, 16 Aug 2019 15:46:39 +0000 https://www.traveldailymedia.com/?p=516780 The post Travel Money and YES Bank launch forex card appeared first on TD (Travel Daily Media) Brand TD.

YES Bank has partnered with Travel Money, the foreign exchange brand of FCM Travel, to provide highly secure digital payment solutions coupled with a completely seamless experience to customers while travelling abroad. This was revealed by Ritesh Pai, chief digital officer at YES Bank. “As a bank, we always focus on future-ready concepts and strategies […]

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YES Bank has partnered with Travel Money, the foreign exchange brand of FCM Travel, to provide highly secure digital payment solutions coupled with a completely seamless experience to customers while travelling abroad. This was revealed by Ritesh Pai, chief digital officer at YES Bank.

“As a bank, we always focus on future-ready concepts and strategies and be ahead of the curve in implementing new age banking solutions for the ease of our customers,” he added.

Murali Nair, vice president and head of business development in India for Visa said: “People who travel overseas and to different countries often have to manage multiple currencies in cash and worry about the threat of loss or theft. We now partner with Yes Bank and bring India’s first cobranded multi-currency travel prepaid card to the customers of Travel Money.”

“Hassle-free international travel”

Rakshit Desai, managing director of FCM Travel Solutions, which is an Indian subsidiary of Flight Centre Travel Group added, “We are always looking to make travel more comfortable and hassle free for our travellers. The Travel Money Forex Card lets travellers spend in 10 different currencies world over and comes with a host of features, exclusive benefits and ease of use, making travelling abroad easy.”

According to Gagan Malhotra, brand leader of Travel Money, with the launch of this co-branded card, the company is looking forward to use technology to make international travel even more convenient for its growing traveller base.

The card’s distinctive features provide travellers total control of their card at their fingertips. Travellers can load up to 10 currencies on the card, track their daily travel budget, instantly check the INR value on the app, and locate surcharge free ATMs nearby. Additionally, in case of suspicious transactions, the card can be easily locked/blocked by the traveller without assistance from customer service.

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Travel Money Co-branded with YES Bank – Multi-Currency Forex Card Launch 1
OYO launches industry-first complimentary insurance https://dev.traveldailymedia.com/oyo-launches-industry-first-complimentary-insurance/ Tue, 13 Aug 2019 11:06:29 +0000 https://www.traveldailymedia.com/?p=516226 The post OYO launches industry-first complimentary insurance appeared first on TD (Travel Daily Media) Brand TD.

OYO Hotels & Homes has announced a first-of-its-kind offering for its customers, — complimentary insurance cover for guests as part of the booking price in OYO properties across India. The insurance cover has been launched in partnership with ACKO General Insurance, insurtech company which makes buying and using insurance effortless. With a shared vision of […]

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The post OYO launches industry-first complimentary insurance appeared first on TD (Travel Daily Media) Brand TD.

OYO Hotels & Homes has announced a first-of-its-kind offering for its customers, — complimentary insurance cover for guests as part of the booking price in OYO properties across India.

The insurance cover has been launched in partnership with ACKO General Insurance, insurtech company which makes buying and using insurance effortless. With a shared vision of offering hassle-free services and a consumer-first approach backed by innovative technology, OYO and ACKO are launching this industry-first feature to ensure a great hospitality experience for the consumer.

The complimentary insurance package offers OYO guests insurance coverage for protection against accidental death, baggage loss and accidental medical expenses for the entire duration of their stay in a city.

To begin with, OYO will be offering guests staying at OYO Hotels, OYO Home, OYO Townhouse, Collection O, SilverKey, Capital O and Palette Resorts this insurance, valid for their full period of stay in these properties. The insurance cover will be applicable to bookings made via the OYO App, website, mobile website, direct bookings as well as walk-ins. The offering will be extended to other categories and booking channels in the coming days.

“To cater to unexpected situations.”

Commenting on the unique offering, Gaurav Ajmera, chief operating officer (COO), India and South Asia, OYO Hotels & Homes said: “With the complimentary insurance offering, we are taking a step forward. The unique feature which has never been offered before in the Indian hospitality industry, designed in partnership with ACKO, aims to cater to the unexpected, unplanned and isolated situations, that our guests across 300+ cities in the country, that choose OYO as their preferred accommodation option, could face. ”

“Delivered entirely digitally, from issuance to claim, we expect this to solve key pain points in the hospitality sector.” said Varun Dua, CEO and founder of ACKO General Insurance.

 

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RCI acquires Alliance to accelerate growth https://dev.traveldailymedia.com/rci-acquires-alliance-to-accelerate-growth/ Fri, 09 Aug 2019 06:29:17 +0000 https://www.traveldailymedia.com/?p=515800 The post RCI acquires Alliance to accelerate growth appeared first on TD (Travel Daily Media) Brand TD.

Vacation exchange network as part of Wyndham Destinations, RCI, announced it has acquired travel technology platform Alliance Reservations Network (Alliance) for USD 92 million. This strategic acquisition will accelerate growth at RCI through an enhanced B2B experience for members and affiliates, as well as bring new benefits for individual and group travel, events and the […]

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The post RCI acquires Alliance to accelerate growth appeared first on TD (Travel Daily Media) Brand TD.

Vacation exchange network as part of Wyndham Destinations, RCI, announced it has acquired travel technology platform Alliance Reservations Network (Alliance) for USD 92 million. This strategic acquisition will accelerate growth at RCI through an enhanced B2B experience for members and affiliates, as well as bring new benefits for individual and group travel, events and the corporate meetings market.

With Alliance, RCI will broaden its reach beyond the core vacation exchange business via new affinity and commercial partners, while also offering best-in-class white-label services to existing affiliates. The platform’s technology provides RCI with an unprecedented ability to offer a world of experiences.

Ideal for the modern traveller, these ‘door-to-door’ services will benefit current and future RCI members with options for transportation, transfers, excursions, car rentals, and distinctive advantages such as additional access to premium inventory and travel experiences in highly sought-after locations.

“Creates unparalleled synergies.”

“The strategic expansion of our travel products and services is vital to the evolution and growth of RCI, both within and beyond the timeshare industry. The acquisition enables us to diversify our product line to better serve our membership and affiliate base, increase revenues and drive further growth,” said Olivier Chavy, president of RCI.

Peter Strack, president of Alliance Reservations Network said: “Going forward, we will continue to serve in our current roles to optimise the full potential of this acquisition. Our commitment to innovation, combined with RCI’s global leadership, creates unparalleled synergies and enables us to drive the evolution of the customer experience through travel technology.”

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Marriott witnesses summer slowdown https://dev.traveldailymedia.com/marriott-witnesses-summer-slowdown/ Thu, 08 Aug 2019 12:42:56 +0000 https://www.traveldailymedia.com/?p=515696 The post Marriott witnesses summer slowdown appeared first on TD (Travel Daily Media) Brand TD.

Feeling the heat this summer, hotel chain Marriott has registered a drop of 65% in its net income for the second quarter of 2019 at USD 232 million compared to USD 667 million for the same period last year. Meanwhile, the second quarter adjusted net income totalled USD 525 million, a 15% decrease from prior […]

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The post Marriott witnesses summer slowdown appeared first on TD (Travel Daily Media) Brand TD.

Feeling the heat this summer, hotel chain Marriott has registered a drop of 65% in its net income for the second quarter of 2019 at USD 232 million compared to USD 667 million for the same period last year. Meanwhile, the second quarter adjusted net income totalled USD 525 million, a 15% decrease from prior year adjusted results.

According to a release, the company added more than 16,000 rooms during the second quarter, including nearly 3,500 rooms converted from competitor brands and approximately 7,500 rooms in international markets.

At quarter-end, Marriott’s worldwide development pipeline totaled roughly 2,900 hotels and more than 487,000 rooms, including approximately 40,000 rooms approved, but not yet subject to signed contracts. Roughly 213,000 pipeline rooms were under construction at the end of the second quarter, the release said.

“Development pipeline increased.”

Arne M. Sorenson, president and chief executive officer of Marriott International said: “Worldwide revenue per available room (RevPAR) increased 1.2% in the second quarter with higher leisure transient demand in Europe, the Caribbean and South America, and the Asia Pacific regions. Showing great momentum, our worldwide RevPAR index increased 110 basis points in the quarter, the strongest single quarter performance since our acquisition of Starwood in late 2016.”

“Our owners and franchisees continue to sign new hotel deals at a rapid pace. Our development pipeline increased 3% in the second quarter, reaching a record 487,000 rooms, including roughly 213,000 rooms under construction. Today, our pipeline includes five new all-inclusive resorts to be built over the next several years, which will be part of our newly-launched all-inclusive platform,” he added.

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Disney World, going on safari and Lapland top family bucket list https://dev.traveldailymedia.com/trips-to-disney-world-going-on-a-safari-and-lapland-top-family-bucket-list/ Wed, 07 Aug 2019 13:14:28 +0000 https://www.traveldailymedia.com/?p=515444 The post Disney World, going on safari and Lapland top family bucket list appeared first on TD (Travel Daily Media) Brand TD.

UK parents’ ultimate wish is to take their families to Disney World. Research from Sainsbury’s Bank Travel Insurance reveals parents are creating new family bucket lists – a list of dream experiences – which they wish to complete together. Once-in-a-lifetime holidays top the bucket lists for families. Disney World (33%), going on a safari (24%) […]

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The post Disney World, going on safari and Lapland top family bucket list appeared first on TD (Travel Daily Media) Brand TD.

UK parents’ ultimate wish is to take their families to Disney World. Research from Sainsbury’s Bank Travel Insurance reveals parents are creating new family bucket lists – a list of dream experiences – which they wish to complete together.

Once-in-a-lifetime holidays top the bucket lists for families. Disney World (33%), going on a safari (24%) and trips to Lapland to visit Father Christmas (23%) are the experiences parents most want to give their children.

Karen Hogg, head of travel insurance at Sainsbury’s Bank said: “Holidays and taking part in a dream experience are clearly a top priority for UK families. That’s why travelling safely and ensuring you’ve got good quality travel insurance is a key consideration before embarking on a trip of a lifetime.”

Other popular wish-list experiences include diving in the Great Barrier Reef (14%), sailing down the Ganges (9%) and appearing on a TV show (9%), demonstrating the wide variety of ambitions that British parents have for their families.

The study shows that bucket lists are very important as three quarters (75%) of parents have a list of dream experiences for their families. However, having children does change what is on bucket lists for almost half (44%) of parents. Mums and dads are more safety conscious as almost a quarter (24%) of parents would now choose safer experiences for their bucket lists. The cost is also a priority for families as nearly a fifth (19%) consider cheaper activities.

The study also reveals that one in six (16%) parents wish to give their children experiences they never had. Parents also like to put their children first with almost one in five (19%) choosing experiences their children will enjoy more.

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Get set, go! Bangkok Airways hosts marathon in Phuket https://dev.traveldailymedia.com/get-set-go-bangkok-airways-hosts-marathon-in-phuket/ Wed, 07 Aug 2019 08:03:08 +0000 https://www.traveldailymedia.com/?p=515366 The post Get set, go! Bangkok Airways hosts marathon in Phuket appeared first on TD (Travel Daily Media) Brand TD.

To promote tourism in Phuket, Bangkok Airways recently organised the “Bangkok Airways Phuket Half Marathon”, the fourth running programme of the Bangkok Airways Boutique Series 2019 at Saphan Hin Park, Phuket. All runners got the opportunity to admire the beautiful locales of the city along the running route. One of the highlights of the programme […]

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The post Get set, go! Bangkok Airways hosts marathon in Phuket appeared first on TD (Travel Daily Media) Brand TD.

To promote tourism in Phuket, Bangkok Airways recently organised the “Bangkok Airways Phuket Half Marathon”, the fourth running programme of the Bangkok Airways Boutique Series 2019 at Saphan Hin Park, Phuket.

All runners got the opportunity to admire the beautiful locales of the city along the running route. One of the highlights of the programme is ‘Care the Bear: Change the Climate Change’ which is a partnership project between the airline and The Stock Exchange of Thailand. The campaign aims to reduce carbon emission from events. At the event, Bangkok Airways took the initiative forward by segregating the waste, reducing the use of plastic and foam and promoting the re-use of event decorations.

Bangkok Airways Phuket Half-Marathon is the fourth event out of six planned programmes of the Bangkok Airways Boutique Series 2019. The remaining programmes are the Chiang Rai Marathon on 15 September and Lanna Half Marathon on 3 November 2019.

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YES Bank acquires 18.55% in Cox & Kings https://dev.traveldailymedia.com/yes-bank-acquires-18-55-in-cox-kings/ Tue, 30 Jul 2019 13:28:12 +0000 https://www.traveldailymedia.com/?p=514523 The post YES Bank acquires 18.55% in Cox & Kings appeared first on TD (Travel Daily Media) Brand TD.

YES Bank has acquired 18.55% stake in Cox and Kings on invocation of pledged shares. It has also acquired 30% stake in Ezeego One Travel & Tours, which is promoted by Cox & Kings. “YES Bank has, pursuant to invocation of pledge acquired shares – 3,27,50,139 equity shares having nominal value of INR 5 a […]

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The post YES Bank acquires 18.55% in Cox & Kings appeared first on TD (Travel Daily Media) Brand TD.

YES Bank has acquired 18.55% stake in Cox and Kings on invocation of pledged shares. It has also acquired 30% stake in Ezeego One Travel & Tours, which is promoted by Cox & Kings.

“YES Bank has, pursuant to invocation of pledge acquired shares – 3,27,50,139 equity shares having nominal value of INR 5 a share, constituting 18.55% of the post-issue paid-up share capital, of a listed company, Cox & Kings; and 34,080 equity shares having nominal value of INR 10 (USD 0.15) per share, constituting 30% of the post-issue paid-up share capital, of an unlisted company, namely, Ezeego One Travel & Tours,” it said in a regulatory filing.

The shares have been invoked after breach of credit facilities and loans to Ezeego One, YES Bank said.

The move comes at a time when Cox & Kings has been facing an asset-liability mismatch. In a regulatory filing on 1 July, it had announced that its working capital situation was stretched in the last few months, which was further impacted due to its inability to replace short-term loans with long-term loans or regular working capital lines. Some of its bank guarantees are being encashed by International Air Transport Association (IATA).

IATA had also suspended the licence of Cox & Kings for selling tickets as the company continues to grapple with the liquidity crisis.

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Huatian pours USD 310 million into China’s Okay Airways https://dev.traveldailymedia.com/huatian-pours-usd-310-million-into-chinas-okay-airways/ Mon, 29 Jul 2019 11:46:42 +0000 https://www.traveldailymedia.com/?p=514006 The post Huatian pours USD 310 million into China’s Okay Airways appeared first on TD (Travel Daily Media) Brand TD.

Chinese low-cost airline Okay Airways, has secured CNY 2.1 billion (USD 310 million) from its parent company Huatian Investment, after the latter changed its majority shareholder. Okay Airways was China’s first privately owned carrier when it began operations. Founded in 2005, the airline operates more than 100 domestic and international routes with 30 aircraft. The […]

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Chinese low-cost airline Okay Airways, has secured CNY 2.1 billion (USD 310 million) from its parent company Huatian Investment, after the latter changed its majority shareholder.

Okay Airways was China’s first privately owned carrier when it began operations. Founded in 2005, the airline operates more than 100 domestic and international routes with 30 aircraft. The airline transports more than six million passengers annually.

The carrier has plans to launch new routes to Europe and the US.

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airBaltic places USD 223.17 million bond issue https://dev.traveldailymedia.com/airbaltic-places-usd-223-17-million-bond-issue/ Thu, 25 Jul 2019 15:20:39 +0000 https://www.traveldailymedia.com/?p=513645 The post airBaltic places USD 223.17 million bond issue appeared first on TD (Travel Daily Media) Brand TD.

Latvian airline airBaltic successfully placed a EUR 200 million (USD 223.17 million) issue 6.75% five-year bond becoming the largest corporate bond issue originating from Latvia. The transaction was well received by the international and local investor community resulting in a final allocation to more than 100 investors from 25 countries and the demand for the […]

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Latvian airline airBaltic successfully placed a EUR 200 million (USD 223.17 million) issue 6.75% five-year bond becoming the largest corporate bond issue originating from Latvia. The transaction was well received by the international and local investor community resulting in a final allocation to more than 100 investors from 25 countries and the demand for the securities exceeded supply.

The airBaltic management team together with J.P. Morgan and SEB banks hosted a well-attended six-day roadshow, meeting investors in all three Baltic capitals, London, Frankfurt, Zurich, Geneva and Helsinki.

“We will significantly strengthen our liquidity.”

Martin Gauss, CEO of airBaltic said: “This is a historic milestone for our airline – not only have we issued the largest bond of any company in the history of Latvia, airBaltic also became the first airline in Central and Eastern Europe to access the international debt capital markets with a Eurobond offering. Investors have clearly shown that they see airBaltic’s strategy as mature and strong. We will continue to execute the growth strategy outlined in our Destination 2025 business plan and we will significantly strengthen our liquidity with the issue of the bonds and continue investments into our fleet.”

The settlement of the bonds is expected to take place on 30 July 30. The bonds will be listed on Euronext Dublin stock exchange – one of the most recognised bond-listing venues globally.

AirBaltic selected J.P. Morgan as the global coordinator and together with SEB as the joint bookrunners for its bond offering.

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Ebix buys Yatra for USD 337.8 million, becomes India’s largest travel company https://dev.traveldailymedia.com/ebix-buys-yatra-for-usd-337-8-million-becomes-indias-largest-travel-company/ Fri, 19 Jul 2019 08:09:58 +0000 https://www.traveldailymedia.com/?p=512760 The post Ebix buys Yatra for USD 337.8 million, becomes India’s largest travel company appeared first on TD (Travel Daily Media) Brand TD.

The US-based supplier of on-demand software and e-commerce services to the insurance, healthcare, financial and e-learning industries, Ebix has acquired Yatra Online, for an enterprise value of INR 2,323.6 crore (USD 337.8 million) in an all-stock deal. The two companies have entered into a definitive agreement under which Ebix will acquire Yatra via merger. The […]

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The US-based supplier of on-demand software and e-commerce services to the insurance, healthcare, financial and e-learning industries, Ebix has acquired Yatra Online, for an enterprise value of INR 2,323.6 crore (USD 337.8 million) in an all-stock deal. The two companies have entered into a definitive agreement under which Ebix will acquire Yatra via merger.

The transaction will create India’s largest and most profitable travel services company. However, Yatra will continue to operate independently and will also retain its brand and status in India.

“This deal provides our shareholders with the opportunity to participate in the significant upside potential of one of the fastest-growing multinational on-demand software and e-commerce services companies in the world,” said Dhruv Shringi, co-founder and CEO of Yatra Online.

The transaction has been approved unanimously by each of Ebix’s and Yatra’s boards of directors, and it is expected to close by the fourth quarter of 2019. Under the terms of the merger, each ordinary share of Yatra will be entitled to receive 0.005 shares of a new class of preferred stock of Ebix (Ebix convertible preferred stock).

“Combining Yatra’s loyal customer base with Ebix’s complementary businesses.”

Following the completion of the transaction, Yatra will become a part of Ebix’s EbixCash travel portfolio alongside Via and Mercury and will continue to serve customers under the Yatra brand.

“We are optimistic that combining Yatra’s loyal customer base, comprehensive service offering and multi-channel platform with Ebix’s complementary Via and Mercury businesses, will create a leading online travel platform and India’s largest corporate travel platform that will capture growth opportunities and deliver enhanced value to shareholders,” Shringi added.

“The acquisition of Yatra would lend itself to significant synergies and the emergence of EbixCash as India’s largest and most profitable travel services company,” Robin Raina, chairman, president and CEO of Ebix said. This deal is Ebix’s biggest acquisition to date in India.

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“I tripped over a puppy”: 10 most bizarre travel insurance claims https://dev.traveldailymedia.com/bizarre-travel-insurance-claims/ Fri, 31 May 2019 07:26:43 +0000 https://www.traveldailymedia.com/?p=505845 The post “I tripped over a puppy”: 10 most bizarre travel insurance claims appeared first on TD (Travel Daily Media) Brand TD.

Cover More - bizarre insurance claims

Following my article on how to deal with 'holiday hell', it's to look at some of the more bizarre misfortunes that travellers have had to face.

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Cover More - bizarre insurance claims

Cover More - bizarre insurance claims

Following my article on how to deal with ‘holiday hell’, it’s time to look at some of the more bizarre misfortunes that travellers have had to face.

A bus fire, a low-hanging vine that ended in disaster — these are just some of the most peculiar travel claims, according to Cover-More Travel Insurance, a travel insurance and medical assistance provider in the UK.

Glenn Broadhurst, Cover-More’s global direct executive general manager, explained: “While some of these individual cases are unusual, they highlight how unpredictable travelling can be. It’s important your travel insurance policy covers you for the unexpected – even before you’ve left home.

“No laughing matter”

“While some of our most bizarre claims will surprise you, they’re no laughing matter. While each of these strange and unexpected claims was covered by the customer’s Cover-More policy, we recommend UK travellers buy their insurance policy straight after booking their holiday, and ensure they read their policy so they know what they’re covered for.”

Top 10 bizarre customer claims

  1. One UK customer – who is a postman – sneezed so powerfully as he bent down to deliver a letter that he suffered a severe back injury as a result. He had to cancel his holiday as a result of the mishap.
  2. A second customer submitted a claim with the simple description: “Blown over by wind”. Once more details were gathered, it was found the unlucky man fractured his arm when he was blown over by winds of more than 80 miles per hour during a freak storm.
  3. Three customers were on an ANZAC tour in Turkey when their bus caught fire. Thankfully, the driver and passengers were unharmed, but the blaze destroyed the bus and its contents.
  4. Cover-More’s most expensive medical assistance claim was for a traveller who suffered a gangrenous gallbladder in the USA. Cover-More paid GBP 126,000 (USD 158,000) to cover their emergency surgery, treatment in hospital, transport and travel delay costs.
  5. One customer fractured their hip when they slipped and fell down stairs at a bus station in Kyrgyzstan. An air ambulance was required to fly the customer home to the UK for surgery.
  6. Another UK traveller slipped on a swimming pool changing room floor in Thailand and burst their vertebrae. They needed an air ambulance to a hospital in Bangkok for specialist surgery.
  7. Another customer was visiting Honduras when they decided to swing on a low-hanging vine, only to fall off and fracture their back. An air ambulance transported the patient to receive emergency medical care.
  8. One traveller claimed for accidents on two separate trips to South Africa to visit their family. For their first claim, they tripped over a puppy and fractured their arm. Then, last year the same customer was in South Africa and fractured their other arm when they fell down a manhole.
  9. A UK holiday-maker in Spain suffered a first-time surprise asthma attack that needed treatment in hospital.
  10. Cover-More’s final wacky claim can only be described as a bat attack. The customer was volunteering in a bat survey project when one of the bats bit them on the hand.

“If the unexpected – or even bizarre – happens…”

Broadhurst concluded: “First and foremost, we want our customers to be safe and well so they can enjoy the full experience of their holiday. But if the unexpected – or even bizarre – happens our 24/7 emergency assistance team with expert case managers, nurses and doctors will help them find the care they need.”

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Cover More – bizarre insurance claims
Thailand’s new payment card for international tourists https://dev.traveldailymedia.com/thailands-new-payment-card-for-international-tourists/ Fri, 17 May 2019 06:57:51 +0000 https://www.traveldailymedia.com/?p=504411 The post Thailand’s new payment card for international tourists appeared first on TD (Travel Daily Media) Brand TD.

Thailand's Siam Commercial Bank (SCB), The Mall Group -- along with support from the Tourism Authority of Thailand (TAT) –  unveiled the new 'SCB M Visa prepaid tourist card' for foreign travellers this week.

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Thailand’s Siam Commercial Bank (SCB), The Mall Group — along with support from the Tourism Authority of Thailand (TAT) –  unveiled the new ‘SCB M Visa prepaid tourist card’ for foreign travellers this week.

To commemorate the occasion of the card, the first 1,000 customers who apply will receive vouchers worth 500 Baht when spending 2,000 Baht or more at The Mall Group’s department stores from 1 June to 31 December, 2019.

Information and applications are available at the Tourist Lounge at the Emporium, Emquartier, Paragon Department Store, and SCB exchange booths at Don Mueang International Airport.

Siripakorn Cheawsamoot, TAT Deputy governor for digital research and development (below, seventh from left), said: “The government strongly believes the payment industry will play an important role in the development of Thailand’s tourism industry. Traveller’s needs are inherently diverse, so driving the adoption and usage of digital payments is the key”

In addition to greater convenience, international security standards and confidence to spend during their time in Thailand, cardholders will also benefit from a number of privileges from more than 53 million Visa-accepting merchant locations in more than 200 countries around the world, according to SCB.

The card is valid for five years, allowing cardholders to enjoy special privileges during every visit to Thailand throughout the validity period. There is no sign up, annual, or re-issuance fee, and cards can be topped-up for a minimum of 100 Baht at any of The Mall Group’s customer service counters.

Cardholders are also eligible for 5 to 10% discounts at all The Mall Group department stores and Gourmet Markets, and up to 50% in discounts at shops located within one of its shopping complexes, including M privileges from leading partners nationwide.

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IATA suspends Zuji’s air booking license https://dev.traveldailymedia.com/iata-suspends-zujis-air-booking-license/ Fri, 07 Dec 2018 08:31:03 +0000 https://www.traveldailymedia.com/?p=489556 The post IATA suspends Zuji’s air booking license appeared first on TD (Travel Daily Media) Brand TD.

Zuji, an online travel booking platform has abruptly stalled its airline booking operations in Singapore and Hong Kong.

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ZUJI, an online travel booking platform, has abruptly stalled its airline booking operations in Singapore and Hong Kong.

Established in 2002 in Australia as an online travel platform, Zuji provides online ticketing, hotel and package services in Hong Kong, Singapore and various regions. Their Asia webpage politely says they are building a new website which will be available in the first quarter of next year. Although confirmed orders will not be affected, director Jiang Yutao, who served as the management of the port and shipping business, told local media that the company was experiencing financial difficulties.

A Singaporean media report said that Zuji has been suspended from issuing airline tickets through the International Air Transport Association’s (IATA) centralised airline ticket billing service due to Zuji’s arrears of IATA fees, and will be re-introduced after the pending payments are processed.

There are also sparks of Zuji Singapore cutting down on its operations in a bid to move all the action to Hong Kong. A Hong Kong office spokesperson said that the website is being upgraded, emphasising that it will not be closed. Customers who booked on or before 5 December and received e-tickets or hotel reservations to determine e-vouchers will not be affected.

The Tourism Commission said yesterday that the Travel Agents Registry and the Travel Industry Council will monitor the operation and customer service of the company.

A ZUJI spokesperson said in a media report that the total number of affected customers cannot be counted at present. But he clarified that refunds will be processed via their 24 -hour helpline. The spokesperson continued that the payment of the arrears to IATA will continue.

The director of the Travel Industry Council of Hong Kong, Cheung Lai-yiu, aid that it is understood that the company’s financial problems “have been negotiated tightly”, but the Travel Council has not received any complaints from citizens so far.

Affected customers can contact the 24-hour customer service department or email onlinetravel@zuji.com.hk to know their booking status.

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Minor Group takes 10% stake in Global Hotel Alliance for USD 3.2 million https://dev.traveldailymedia.com/minor-group-stake-in-gha/ Fri, 02 Nov 2018 05:06:52 +0000 https://www.traveldailymedia.com/?p=486470 The post Minor Group takes 10% stake in Global Hotel Alliance for USD 3.2 million appeared first on TD (Travel Daily Media) Brand TD.

Anantara Riverside, Bangkok, a Minor Group property

Thai hospitality and investment group Minor Hotels has revealed today that it has upped its commitment to Global Hotel Alliance (GHA), by taking a stake in the independent hotel conglomerate. Minor, a member of GHA for over a decade when it first signed up to the group with luxury brand Anantara, took the opportunity to support […]

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Anantara Riverside, Bangkok, a Minor Group property
nantara Riverside Bangkok Resort, a Minor Group property

Thai hospitality and investment group Minor Hotels has revealed today that it has upped its commitment to Global Hotel Alliance (GHA), by taking a stake in the independent hotel conglomerate.

Minor, a member of GHA for over a decade when it first signed up to the group with luxury brand Anantara, took the opportunity to support the alliance which is currently investing in new CRM and shared technology to build on the success of the Discovery loyalty programme.

The 13 million Discovery members will produce USD1.7 billion in room revenues in 2018, of which around USD 125 million is from customers moving between member brands.

We plan to double those numbers in the next few years, as independent brands look to collaborate with each other to share the common challenge of competing with the ever-consolidating major brands and third party distribution providers.

Following the announcement, Dillip Rajakarier, Minor Hotels CEO, will now join the GHA board of directors. The investment is worth a total of USD 3.2million, representing a 10% share of the Global Hotel Alliance.

“A strong CRM and loyalty programme for our hotels”

Commenting on the news, Rajakarier, said: “Since joining the GHA in 2007, we have grown and developed our own brands and continue to acquire new ones, and membership of GHA fits well with our multi-brand strategy.

“GHA has consistently demonstrated the value of global customer reach and a strong CRM and loyalty programme for our hotels, and so we are delighted to be able to take our place as a shareholder in the business, with the opportunity to help guide its growth over the coming years.”

Dillip Rajakarier

Minor Hotels operates in 23 countries across Asia Pacific, the Middle East, Africa, the Indian Ocean, Europe and South America. In October 2018, Minor Hotel completed a tender offer which resulted in the acquisition of 94.1% of NH Hotel Group

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Anantara Riverside, Bangkok Anantara Riverside, Bangkok, a Minor Group property Dillip Rajakarier Dillip Rajakarier
LateRooms.com partners with Diners Club to launch payment solution https://dev.traveldailymedia.com/laterooms-partners-with-diners-club/ Mon, 20 Aug 2018 05:26:29 +0000 https://www.traveldailymedia.com/?p=479155 The post LateRooms.com partners with Diners Club to launch payment solution appeared first on TD (Travel Daily Media) Brand TD.

Customers can benefit from 52 days interest-free credit on bookings, real-time spend tracking and monthly reporting.

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LateRooms

As part of its growing expansion, booking platform LateRooms.com Business has announced its partnership with Diners Club for the launch of a new payment facility.

LateRooms.com is a UK-based online accommodation site, offering deals in more than 200,000 properties worldwide – from bed and breakfasts to five-star luxury hotels. The company was originally under the TUI Group, then acquired by Cox & Kings for GBP 8.5 million, before finally settling under Malvern Enterprises UK for GBP 20 million.

To provide a faster and more efficient payment solution, Laterooms.com Business, a business travel arm of booking portal Laterooms.com, partnered with credit card company Diners Club, to offer the statement account facility, creating a single online process for business travellers to book and pay.

Through the partnership, its customers can benefit from 52 days interest-free credit on bookings, real-time spend tracking, monthly reporting, a speedy sign-up process with no extra charges, plus 5% cash-back for new customers starting September 2018.

“A seamless accounts procedure”

Graeme Descoteaux, head of corporate at LateRooms.com Business, said: “We are delighted to be introducing this new Statement Account facility which guarantees business travellers a cost-effective and efficient method of payment.

“It has been many months in the planning but with the assistance of the Diners Club partnership, we now have a seamless accounts procedure that will bring ease and savings to both our valued corporate clients and new clients alike.”

Additionally, the service provides an express hotel check-in even without company credit cards in possession. On the new system, all transactions can be viewed online, saving travellers time and money.

Lee Jackson, UK business development director at Diners Club, said: “We are delighted to be providing an interest-free credit programme so that businesses can benefit from the superb range of accommodation available through the Laterooms.com Business solution”.

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LateRooms.com partners with Diners Club to launch payment solution As part of its growing expansion, booking platform LateRooms.com Business has announced its partnership with Diners Club and the launch of a new payment facility. Laterooms.com,Diners Club,Graeme Descoteaux,Lee Jackson,laterooms LateRooms – Statement Account
SellAnyHome insights: “Real estate market continues to maintain dynamism” https://dev.traveldailymedia.com/sellanyhome-uae-real-estate/ Mon, 13 Aug 2018 06:52:44 +0000 https://www.traveldailymedia.com/?p=478440 The post SellAnyHome insights: “Real estate market continues to maintain dynamism” appeared first on TD (Travel Daily Media) Brand TD.

Home buying and selling platform, SellAnyHome.com, has released insights generated from thousands of its registered users, showing the strength of the real estate market in the UAE.

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Dubai, UAE
Dubai, UAE

Home buying and selling platform, SellAnyHome.com, has released insights generated from thousands of its registered users, showing the strength of the real estate market in the Dubai.

Good news for both buyers and sellers of homes in Dubai as the buying service SellAnyHome.com revealed that home buyers (with a healthy budget) have been growing at an ‘astronomical’ rate since its platform have been opened, with an accumulated budget of around AED 640 million (USD 174 million).

“A clear signal of how exciting the Dubai real estate market remains”

Omar Chihane, CEO and co-founder of Sellanyhome.com, commented: “Our buyer pool has increased 600% since January and is a clear signal of how exciting the Dubai real estate market remains for buyers and investors alike.”

Having a robust background in business and sales, Chihane aims that his new concept will revolutionise the way homes are bought and sold in the UAE. The idea for the platform, which sells homes to a pool of investors, came when he had a tough time selling his own Dubai Marina apartment in 2016.

Gathering data from its registered buyers, SellAnyHome.com found that 49% of buyers have a budget of AED 1 million and above. Furthermore, Dubai Land, Dubai Marina, Jumeirah Village Circe, Meydan and Sports City have emerged as the top destinations for buyers, with 52% looking for homes in these locations.

“The real estate market continues to maintain dynamism”

“Our data insights, mined from sellers and buyers using SellAnyHome.com, indicate a robust real estate market. Potential buyers are entering the market with healthy budgets. The data also shows that properties large and small, ranging between one and three bedrooms, for instance, are all attracting strong interest. Our data suggest that the real estate market continues to maintain dynamism even as consumer preferences and price points evolve,” added Chihane.

In terms of room numbers, it showed that the majority of the buyers were flexible, with 20% looking specifically for a one-room bedroom, while 26% are looking at two to three bedrooms. The data also revealed that 71% of buyers are interested in apartments, with only 12% preferring villas. As for payments, 22% prefer paying cash in full, 57% prefer financing, while 13% are happy either way.

Chihane concluded: “We will use this data to optimise our offerings so buyers can quickly find the property they want at the price they need while sellers can quickly identify a suitable buyer for their property.”

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Dubai, UAE SellAnyHome
What to do with unused foreign currency after your holiday: WeSwap’s currency clean-up https://dev.traveldailymedia.com/weswap-foreign-currency-after-holiday/ Fri, 27 Jul 2018 09:36:49 +0000 https://www.traveldailymedia.com/?p=476251 The post What to do with unused foreign currency after your holiday: WeSwap’s currency clean-up appeared first on TD (Travel Daily Media) Brand TD.

WeSwap has launched UK’s first currency clean-up - an industry first partnership that allows holidaymakers to clear out their kitchen drawers, glass jars and travel wallets of unused currency from holidays past and load it back in GBP on to a WeSwap card, or donate it to charity.

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Currency exchange provider WeSwap has launched UK’s first ‘currency clean-up’ – an partnership that allows holidaymakers to clear out their kitchen drawers, glass jars and travel wallets of unused currency from holidays past and load it back in GBP on to a WeSwap card, or donate it to charity.

The initiative launched in partnership with FX online delivery service Currency Online Group (COG) – responds directly to a nationwide survey around holiday money that today unveils 60% of travellers (27.1 million) over-budget on the amount of cash taken for spending money on holiday

Airports benefit the most as a staggering GBP 2.5 billion (USD 32.90 million) is brought back unused only to nestle in coin-jars nationwide, according to WeSwap, a “people-friendly currency exchange”.

While some of the average GBP 90 “spare-change” bought back is squandered at duty free or on last minute gifts for the office, a lot of it is just sitting at home. And totalled up, a whopping GBP 819 million worth of yen, euros, dollars, rupees and other currencies is currently stagnating unused in sock drawers and glass-jars across the nation.

According to a study by WeSwap, here are the popular ways to use leftover cash from overseas trips in the UK:

  • 27% (12 million people) save spare currency for their next trip
  • 19% spend it at duty free
  • 10% buy gifts or souvenirs like regional food specialties, fridge magnets, Toblerones, chocolates for the office – and novelty souvenirs are favourites
  • 9% change it back
  • 6% keep the currency as a souvenir, give it to friends or just leave it in the hotel room.

Favourite ways to store leftover currency, according to the study indicate:

  • 31% (9.6 million people) store excess currency in piggy banks, coin jars and boxes under the bed
  • 19% elect to use the ever-reliable kitchen and sock drawers to hold an average of GBP 503 million across the nation. The trusted travel wallet holds 28% of our holiday cash

What to do with spare holiday cash?

The launch of BuyBack in Partnership with Currency Online Group enables WeSwap customers to send back spare foreign currency notes they have remaining following their holidays. The travel money provider then converts the currency back into GBP, and puts it straight back onto the customer’s WeSwap account within a speedy three working days.

Mkunkhu school, a Love Support Unite project

Travellers also have the option to donate it to the charity Love Support Unite, Currency Online Group’s preferred charity, who work to partner with communities in Malawi to break the cycle of poverty. Major currencies are converted back to GBP at an competitive 1 –2%, compared to the average high street average mark-up of between 6-7% for buyback services.

Once you register on their site, WeSwap sends you a notification to confirm. Then its time to pop the currency in the post. WeSwap recommends using Royal Mail special delivery, in a tamper proof envelope for security. The currency is received by COG’s secure processing unit and paid in GBP directly onto the customers. At present the service can’t accept coins, 500 EUR notes, or 1000 CHF notes, although WeSwap hopes to expand the service to include coins in future.

“What to do with leftover currency is something no-one has really cracked yet”

CEO of WeSwap, Jared Jesner said: “We’re really excited about our new buyback service. The research confirms that the question of what to do with leftover currency is something no-one has really cracked yet, so a huge amount of money goes to waste every year. Hopefully WeSwap Buyback will help make the process easier and fairer for everyone. We’re delighted to be able to work with Currency Online Group and Love Support Unite on this fantastic project.”

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Study uncovers British tourists’ bad holiday spending habits https://dev.traveldailymedia.com/british-bad-holiday-spending-habits/ Thu, 19 Jul 2018 12:08:35 +0000 https://www.traveldailymedia.com/?p=475746 The post Study uncovers British tourists’ bad holiday spending habits appeared first on TD (Travel Daily Media) Brand TD.

In an independent research concluded by CYBG’s digital banking service, B, it was revealed that 33% of Brits experience financial challenges when they return home due to unhealthy holiday spending habits. 

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The post Study uncovers British tourists’ bad holiday spending habits appeared first on TD (Travel Daily Media) Brand TD.

In research concluded by CYBG’s digital banking service, B, it was revealed that 33% of Brits experience financial challenges when they return home due to unhealthy holiday spending habits. 

We love going on holidays – a little too much, it seems, as we spend too much worsening the post-holiday blues. It’s a frustrating thing, going to the best destinations and booking the best accommodation, only to be left with a big hole in our pockets.

For British tourists, the study – which polled 2,000 adults – predicts that they will spend an average of GBP 1,175 (USD 1,530) per person on their vacations, plus an additional GBP 118 on pre-trip purchases. Most of the pre-holiday spending will go on holiday wardrobe, followed by toiletries such as the much-needed sun cream.

According to the research, British consumers have a ‘spend now, worry later’ mindset, with 57% admitting to putting their holiday expenses on credit, and a tenth saying they have no idea when they could actually pay for it. Furthermore, 53% said they don’t save for flights, 47% don’t save for accommodation costs, and 48% don’t save for spending money.

“There is a risk that all that unwinding on holiday could soon be undone”

Louise Hodges, head of consumer communications at B, said: “Holidays are something people find very hard to give up and that’s understandable. The benefit of time away from the office or home is well documented, so getting away should be encouraged.

“What should be kept in mind, however, is the importance of sticking to a budget and not ignoring the reality of how to pay for that break. If, as our research shows some people are relying on credit to afford household bills due to blowing the budget, there is a risk that all that unwinding on holiday could soon be undone when normal life resumes.”

The poll asked respondents if they could make savings to reduce the overall cost of their holiday and 56% said they could, but a startling 25% admitted they wouldn’t bother. That’s because they don’t care about the budget, or they don’t want to cut back while on vacation.

The top priorities for British tourists when going on holidays are dining out (28%), drinking in bars / restaurants (21%), and food and drink to self-cater (18%). Although budgeting, it seems, is not on priority as only 13% of holidaymakers said they set a daily budget and don’t exceed it.

“Reducing holiday spending doesn’t mean reducing holiday fun”

Louise concluded: “Reducing holiday spending doesn’t mean reducing holiday fun. Simple savvy habits like not getting currency at the airport (as it is invariably more expensive) and making sure your credit card doesn’t charge you on foreign transactions, lead to money-saving with zero impact on the holiday experience.”

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Shopping – Spending Habits Credit Card – Spending Habits Finance – Spending Habits
Find.Exchange: Revolut’s former head of product design launches forex app https://dev.traveldailymedia.com/find-exchange/ Mon, 09 Jul 2018 11:24:22 +0000 https://www.traveldailymedia.com/?p=474793 The post Find.Exchange: Revolut’s former head of product design launches forex app appeared first on TD (Travel Daily Media) Brand TD.

To gain the best exchange rate you are sometimes required to track the top rates for your holiday money you are going to need against your home currency before you decide to buy. Banishing all ambiguity and promising to find the best exchange rate in your proximity, find.exchange is looking to be the saving grace for holiday budgets.

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Ricky Lee and the find.exchange team in Dubai
Ricky Lee and the find.exchange team in Dubai

The ease of banking and fintech revolution have opened pathways to the way we manage and spend money. While forex cards relieve the pain of juggling currency notes, the high fees still make money exchanges popular with travellers. But exchange rates are constantly changing and fluctuates through the day.

To gain the best exchange rate you are sometimes required to track the top rates for your holiday money you are going to need against your home currency before you decide to buy. Add to that, money exchange commissions and you will notice that even authorised sellers’ rates vary.

Find your exchange

Banishing all ambiguity and promising to find the best exchange rate in your proximity, find.exchange is looking to be the saving grace for holiday budgets.

Founded by former Revolut head of product design and strategy Ricky Lee, find.exchange is basically the Skyscanner of currency exchange and enables sourcing travel money at the best rates. True to its name, find.exchange does just that – it finds an exchange by aggregating and comparing live rates of currency exchanges around your location. Think looking for the best currency exchange like looking for the best airline deal.

find.exchange on various devices, including mobile and smartwatch
find.exchange on various devices, including mobile and smartwatch

You can either use a web platform or the mobile app before you travel to quickly find the cheapest places to order your currency in your home country, or use the GPS in the app whilst abroad to find the cheapest place in your vicinity to withdraw cash whilst on holiday. It also works if you are looking to make a transfer to an international account or if you are using pre-paid currency cards.  

Similar to Revolut – a smartphone app linked to a pre-paid Mastercard – find.exchange enables you to access the best exchange rates around the world.

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Ricky Lee and the find.exchange team in Dubai find.exchange on various devices, including mobile and smartwatch
The rebirth of the timeshare – for the cryptocurrency generation: we talk to the CEO of Crowdvilla https://dev.traveldailymedia.com/timeshare-crowdvilla-ceo/ Thu, 12 Apr 2018 03:30:14 +0000 http://www.traveldailymedia.com/?p=464203 The post The rebirth of the timeshare – for the cryptocurrency generation: we talk to the CEO of Crowdvilla appeared first on TD (Travel Daily Media) Brand TD.

Darvin Kurniawan, the Indonesian co-founder and CEO of Singapore-based start-up Crowdvilla, entered the alternative accommodations industry by way of blockchain-powered cryptocurrency. In this two-part series, he explains why how technology can make property ownership possible in the notoriously expensive (and small) Red Dot City in his own words: “Imagine if we are good friends with two […]

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Crowdvilla team
The Crowdvilla team flanking CEO Darvin Kurniawan (centre)

Darvin Kurniawan, the Indonesian co-founder and CEO of Singapore-based start-up Crowdvilla, entered the alternative accommodations industry by way of blockchain-powered cryptocurrency. In this two-part series, he explains why how technology can make property ownership possible in the notoriously expensive (and small) Red Dot City in his own words:

“Imagine if we are good friends with two or three other people, and we want to buy a villa in Bali. Let’s say that, as friends who trust each other, we agree to pool resources together to do exactly that. We also agree on a schedule so that each of us takes turns using it, say, six months at a time. Because we are friends that all co-own that villa, including the utilities, none of us pays rent to each other if we want to use it.

“The other [traditional timeshare] owners of that villa are mostly strangers”

“Now let’s scale that up 1,000 times. This is basically how the current time-sharing business model works, but with some differences: first, the other owners of that villa in Bali are mostly strangers who share no personal connection with you or me. Second, in the current model, these ‘owners’ are actually just renting from the people who operate and manage that villa, because these operators also manage other properties in other parts of the world.

The birth of the non-profit timeshare

Kurniawan continues: “My co-founders (COO David Chandra and CTO Hendrik Tanjaya Tan) and I set up Crowdvilla as a non-profit timeshare vacation ownership community running on blockchain and cryptocurrency. ‘Non-profit’ because we want everyone who buys in to get their money’s worth; and ‘community’ because we want to make sure all buyers can utilise the assets – in this case, holiday homes – they all own together.

The Crowdvilla team thinks that everyone can benefit from co-owning that dream villa in Bali – using cryptocurrency

“This was to answer a problem that interested us back in our university days: how do you own real estate in a country whose size drives all costs up? My co-founders and I pooled money together to form a real estate co-ownership called Reidao. But in time we saw that it was smarter to use the timeshare system where everyone could have the chance to benefit from co-owning vacation spaces, and so we spun Reidao off to Crowdvilla.

“Crowdvilla uses two tokens. If you have ether and want to buy into a Crowdvilla property – let’s go back to the villa in Bali – the first step is to buy CRV or Crowdvilla tokens in order to generate points. The CRV token functions as the timeshare contract because it gives you the right to use the property and the right to keep it running.

“If you want to use your allotted days in the property, the second step is to use your CRV token to buy CROWD or Points tokens. These points are ‘burnt’ as payment for actually staying in the villa, and cannot be reverted. All you can do is buy new CROWD tokens using your CRV tokens.

” ‘What about managing the actual vacation properties’, you ask? Established timeshare companies like VRBO, Wyndham, Welk and RCI own, manage and earn from properties. Our model intentionally decentralises and separates the ownership, management and revenue functions: Crowdvilla will own the properties, but it will partner with local hospitality industry vendors to run these properties. All revenue either keeps Crowdvilla’s blockchain system running, or goes to the operators.”

Powering timeshare with technology

Singapore laws on real estate are currently hugely prohibitive

Pivoting from Reidao to Crowdvilla brought many regulatory challenges. Current Singapore laws state that fractional ownership of any real estate, any stocks or any shares in investment funds are all securities. If the token we built had components that make it act like a security, regulators would consider it a security. And listing it as a security is a long, tedious process with too many regulations that the young crypto-economy just isn’t ready for.

The Singaporean government presented clearer directions on how these innovative technologies should work, plus their potentials and risks. These rules allow us to appreciate the benefits of compliance. We see companies flouting rules and breaking laws, which we feel are bad ideas – when you deal with physical assets.

“Cryptocurrency assets will always find a market”

“One advantage our model has is that both Crowdvilla properties and tokens are considered liquid cryptocurrency assets, while on the other hand timeshare contracts do not appreciate in value. With how things are going now, crypto-currency assets will always find a market. CRV and CROWD tokens will be always listed on several crypto-exchange chains, or you can just sell your token at any crypto-exchange site.

Another key difference between Crowdvilla and timeshare businesses is that all transactions are done in blockchain with no physical money involved. We have been told that our system of token usage is a bit complicated, but selling our tokens is easier than selling actual timeshare contracts. It would be easier to streamline the system if government regulators experience a paradigm shift of what blockchain and cryptocurrency can do.”

On paper blockchain is working well, but in reality its market share will only grow many, many years down the road.

Before blockchain can be adopted as a disruptor, the mass market first needs to adopt, if not understand, cryptocurrency. I personally don’t think this will happen anytime soon. In Singapore alone, majority of people have never owned Bitcoin or Ether, and most of them don’t even know how to secure their digital wallets!

So it’s a long way to go before businesses built on blockchain can fully rely on it. That said, we are aware of these problems working on Crowdvilla, and we are positive that our model can make tokens easier to acquire.

Cryptocurrency includes BTC (Bitcoin), ETH (Ether) and CROWD tokens

“”New start-ups must understand their background – in our case, we were looking from the tech side. But founders in the hospitality side should understand which technologies can actually help them bring their vision forward. The first thing they should do is to spend time learning the tech, beyond getting it to work and hiring people to make it work.

Another thing to consider is that as founders, we usually come up with good solutions, but we fail to realise there is no problem in the first place. That’s another thing we encourage everyone to investigate. It’s good practice to have validation of ideas; you need to make sure the market is ready before doing anything, whether it’s to add to it or disrupt it.

The cryptoeconomy is growing fast; we are still mining the potential of blockchain, and we’re just starting to use these with other industries like hospitality. I personally look forward to seeing shifts and changes in structures, in the way things currently work, not just by start-ups but even and most especially by big businesses. If companies using blockchain solve efficiency problems, chances are they don’t really change it enough to make it truly relevant.

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Crowdvilla 2b The Crowdvilla team flanking CEO Darvin Kurniawan (centre)
Pair of aces: Klook double down on USD$60 million investment https://dev.traveldailymedia.com/klook-double-down/ Mon, 19 Mar 2018 01:50:59 +0000 http://www.traveldailymedia.com/?p=458186 The post Pair of aces: Klook double down on USD$60 million investment appeared first on TD (Travel Daily Media) Brand TD.

With news of Klook’s successful round of series C funding, coming at the end of last year, where the in-destination platform secured US$60 million (the largest deal of its kind) to expand their global presence, founder Ethan Lin asserted the company’s intention to develop new products to achieve this aim.

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With news of Klook’s successful round of series C funding, coming at the end of last year, where the in-destination platform secured US$60 million (the largest deal of its kind) to expand their global presence, founder Ethan Lin asserted the company’s intention to develop new products to achieve this aim.

“In addition to global expansion, we plan to use the funding to accelerate the development of travel technology, which is really the core of the company.”

Now, in-keeping with their founder’s statement, Klook have announced the appointments of Anita Ngai, as chief revenue officer, and David Liu as chief product officer. Two astute hires who will no-doubt make an impact on the company’s direction, as members of an already formidable leadership team, which includes president and chief operation officer Eric Gnock Fah, and chief technology officer, Bernie Xiong.

It’s good to see such fast, positive moves after significant investment, and sentiment which I am sure will be shared by investors, who will have great confidence in both employees track record.

Following stints as head of marketing for APAC for Hotels.com, and head of corporate strategy & digital business Development at  Link Asset Management, Anita has gained valuable experience of growing businesses through marketing, localization and globalization, user experience optimization, and bridging demand and supply.

A great match for Klook, who will use Miss Ngai’s talents to enhance the brand at a local and global level, by scaling up marketing channels, furthering partnerships, and deepening overall presence with trade, tech collaborators, and consumers in APAC, as well as in the Americas and Europe.

“It is an exciting time to be in the tours, activities, and in-destination service space. Its complex and fragmented supply creates a large opportunity for online platforms to differentiate themselves by serving the rising demand in a more comprehensive and personalized way than ever before,” said Anita Ngai, “I am excited to join Klook and leverage my experiences in online travel across different continents to rapidly expand our reach to travellers around the world.”

As CPO, David Liu  will continue to drive Klook’s product innovation and user experience. He joined Klook in 2016 as Vice President of Product and UX, and under his leadership, the team has scored key achievements including the inaugural launch of Klook’s Android Instant App and our best-in-class merchant solutions, as well as localizing our platforms into a total of eight languages.

David and his team have earned major accolades for Klook, including the Klook mobile app being featured over 100 times as the go-to app for trip planning and awarded “Best of the Year” by both Apple App Store and Google Play. David was instrumental in building up multiple e-commerce, messaging and social network products for Tencent and Yahoo, and thus brings to Klook valuable experience in technology development and product management from both Greater China and the U.S.

Commenting on the role David said, “Klook’s technology innovation is what users love about us and what we take pride in,. With my previous experience of scaling innovation for the best-known technology companies in Asia, I look forward to bringing the most creative tech solutions to the Klook platform for minimizing friction and solving traveller pain points.”

 

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Klook’s Chief Product Officer, David Liu (left) and Chief Revenue Officer, Anita Ngai (right) Klook’s Chief Revenue Officer, Anita Ngai Klook’s Chief Product Officer, David Liu
FEC announces US$42 million merger with Trans World Corporation https://dev.traveldailymedia.com/fec-us42-million-merger-trans-world-corporation/ Tue, 06 Mar 2018 02:43:10 +0000 http://www.traveldailymedia.com/?p=445175 The post FEC announces US$42 million merger with Trans World Corporation appeared first on TD (Travel Daily Media) Brand TD.

Far East Consortium International Limited (FEC) announced today that  subsidiaries FEC Overseas Investment (UK) Limited (FEC OIL) and FEC Investment (US) Limited have entered a merger agreement with Trans World Corporation.

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Far East Consortium International Limited (FEC) announced today that  subsidiaries FEC Overseas Investment (UK) Limited (FEC OIL) and FEC Investment (US) Limited have entered a merger agreement with Trans World Corporation.

Upon closing, the proposed merger will see FEC Overseas Investment (UK) Limited and FEC Investment (US) Limited merge with and into Trans World Corporation. Trans World Corporation will continue as the surviving company and become a wholly owned subsidiary of FEC OIL.

With interests in property development, hotel operation and management, including Dorsett Hospitality International, FEC will pay up to US$42 million (HK$327.6 million) and will assume Trans World Corporation net debt, not exceeding $11.025 million, or HK$ 86.0 million, for the acquisition.

Mr. Chris HOONG, managing director of FEC said: “We are very excited about the transaction. Trans World Corporation has the best in class casino assets in the region with strong growth track record and improving operating efficiency. The recent regulatory changes in Czech Republic have provided the Group with further development opportunities.

The acquisition of Trans World Corporation is another strategic development in the European market for FEC and we believe it will produce synergistic benefits with our hospitality business. Trans World Corporation would add 5 hotel properties and 3 casinos to the Group’s portfolio and create good opportunities for the Group to expand its hospitality offering in Europe. The transaction will allow the Group to establish a gaming platform and will add an additional stream of steady recurring cash flow to the Group. ”

Click here for more information about Far East Consortium International Limited.

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Dorsett Singapore
Singha Estates buy six Outrigger sites in US$350 million deal https://dev.traveldailymedia.com/singha-estates-buy-six-outrigger-sites-us350-million-deal/ Mon, 05 Mar 2018 04:39:36 +0000 http://www.traveldailymedia.com/?p=445133 The post Singha Estates buy six Outrigger sites in US$350 million deal appeared first on TD (Travel Daily Media) Brand TD.

Singha Estates announced at the weekend that it has signed an agreement to buy Laguna Phuket Beach Resort. In an article for hospitality consultants C9 Hotelworks, Bill Barnett, reports the purchase will also include a further five additional Outigger properties.

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Singha Estates announced at the weekend that it has signed an agreement to buy Laguna Phuket Beach Resort. In an article for hospitality consultants C9 Hotelworks, Bill Barnett, reports the purchase will also include a further five additional Outigger properties.

“The portfolio outside of Phuket is Outrigger Konotta Maldives Resort 53-keys, Outrigger Koh Samui Beach Resort 52-keys, Outrigger Mauritius Beach Resort 181-keys, Outrigger Fiji Beach Resort 253-keys and Castaway island 65-keys. Subject to closing the asset purchase for the six hotels will be though Singha subsidiary S Hotels and Resorts (SC) Co. Ltd.”

“Consideration under the purchase in documents filed with the Stock Exchange of Thailand (SET) note that the total value of the deal not exceed US$350 million (more than B11 billion), which covers debt and equity” Mr Barnett added.

Completion of the sale for Laguna Phuket Beach Resort – with a combined value of THB3.3 billion – is slated for June 2018, with Outrigger staying on to manage the property.

The sale follows news of the 2016 purchase of Outrigger Hotels and Resorts by KSL Private Equity Partners (LLC) – a sale which included all of the 37 Outrigger sites across Asia, including Outrigger Laguna Phuket Beach Resort.

Click here for more information about Outrigger and the Laguna Phuket Beach Resort.

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Outrigger Laguna Phuket
AccorHotels could make $5.3 billion on AccorInvest sale https://dev.traveldailymedia.com/accor-make-5-3-billion-accorinvest-sale/ Wed, 28 Feb 2018 05:33:43 +0000 http://www.traveldailymedia.com/?p=445003 The post AccorHotels could make $5.3 billion on AccorInvest sale appeared first on TD (Travel Daily Media) Brand TD.

AccorHotels has announced that it has signed agreements with a group of international investors with a view to selling a majority of the capital of AccorInvest.

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AccorHotels has announced that it has signed agreements with a group of international investors with a view to selling a majority of the capital of AccorInvest.

Under the terms of the agreements, AccorHotels would initially sell 55% of AccorInvest to Sovereign Funds, namely the Public Investment Fund (PIF) and GIC, Institutional Investors, namely Credit Agricole Assurances, Colony NorthStar and Amundi, and other investors. For AccorHotels, the sale would result in a cash contribution of USD $5.3 billion.

Sébastien Bazin (main picture), chairman and chief executive officer of AccorHotels, said: “These agreements represent a key milestone for the Group. Following the separation of AccorInvest into a stand-alone legal entity last summer, we are now gathering a round-table of leading investors, on the basis of a valuation that fully reflects its global leadership and the quality of its assets, while building a long-term relationship between AccorHotels and AccorInvest.  These elements were essential to make this operation a success for all stakeholders: teams, partners, as well as present and future shareholders of both entities”.

The entry of new shareholders and the deconsolidation of AccorInvest will provide AccorHotels with substantial leeway to enhance our dynamic growth and innovation strategy and create value for shareholders – Sébastien Bazin

The AccorInvest hotels would be operated by AccorHotels under very-long-term contracts, namely 50 years (including a 15-year renewal option) for luxury and upscale hotels and 30 years on average (including a 10-year renewal option) for hotels in the midscale and economy segments. The management contract terms that have been negotiated between the parties are in line with market practices.

“The entry of new shareholders and the deconsolidation of AccorInvest will provide AccorHotels with substantial leeway to enhance our dynamic growth and innovation strategy and create value for shareholders. For its part, AccorInvest will take advantage of its new powerful shareholders’ support, as well as a strengthened financial structure to execute its roadmap and continue to reinforce its portfolio of assets,” Bazin added.

AccorInvest

With close to 30,000 employees and operations in 27 countries, AccorInvest is the world leader in hotel real estate, with a current portfolio of 891 hotels. The majority of these hotels are located in Europe, in the economy and midscale segments. Of the total, 324 are owned and 567 are operated under fixed or variable-rent leases.

Under the terms of the agreements, the investors made binding undertakings to carry out the transaction and AccorHotels granted them an exclusivity, pending works council consultation. The transaction is also subject to certain antitrust and regulatory approvals. It will be submitted to a shareholders’ meeting of AccorHotels for consultation. It is expected to be finalized in the second quarter of 2018. AccorInvest would then be accounted for using the equity method in AccorHotels’ consolidated financial statements.

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Sebastien Bazin F! Sébastien Bazin
Duetto secure record-breaking $80 Million investment from Warburg Pincus https://dev.traveldailymedia.com/warburg-pincus-record-investment-duetto-hotel-technology/ Thu, 15 Feb 2018 12:56:00 +0000 http://www.traveldailymedia.com/?p=444460 The post Duetto secure record-breaking $80 Million investment from Warburg Pincus appeared first on TD (Travel Daily Media) Brand TD.

Duetto, hospitality's only 'Revenue Strategy Platform', announced have the closing of an $80 million Series D financing round led by funds affiliated with Warburg Pincus, an American global private equity firm focused on growth investing. The round is the largest ever non-acquisition investment in a software company serving the hotel industry.

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Duetto, the ‘Revenue Strategy Platform’, announced have the closing of an $80 million Series D financing round led by funds affiliated with Warburg Pincus, an American global private equity firm focused on growth investing. 

The round is the largest ever non-acquisition investment in a software company serving the hotel industry. Duetto previously secured $30 million in 2015, with total funding now standing at more than $143 million.

Founded in 2012 by (above left to right), chief technology officer Craig Weissman, chief marketing & strategy officer Marco Benvenuti and CEO Patrick Bosworth. The company’s flagship software-as-a-service (SaaS) application, GameChanger, brought machine learning, new consumer-centric data and the breakthrough innovation of Open Pricing to the industry, enabling hotel companies to independently price all distribution channels, customer segments, room types and stay dates in real time.

“As the pace of change has accelerated and the threats of digital disruption have grown, so have our efforts to help this industry we are so passionate about. We are pleased to have the support of Warburg Pincus, whose extensive experience in building SaaS businesses of scale will help drive our growth and provide solutions to more hoteliers worldwide,” said Patrick Bosworth, co-founder and CEO of Duetto.

“For more than a decade, hotel companies have been looking for ways to compete more effectively with online travel agencies and drive more direct business. By unifying data across the tech stack, our platform has become the single source capable of delivering true personalization to consumers. Hoteliers now have the ability to increase conversion and drive more direct engagement with consumers by personalizing pricing and merchandising at the point of booking.” He added.

“Duetto has established itself as the market leader in the hotel revenue management space, providing its customers with next-generation solutions to optimize demand, maximize rates and minimize costs,” said Ashutosh Somani, managing director, of Warburg Pincus. “With its strong domain experience and deep cloud SaaS technology leadership, Duetto is uniquely positioned to bring new capabilities to the hospitality industry. We look forward to supporting Patrick and the Duetto leadership team in their next chapter of growth.”

Duetto’s, fully deployed, hotel clients using GameChanger have recorded an average RevPAR Index lift of 6.5%. And more than 2,500 hotel and casino properties in more than 60 countries have implemented Duetto’s applications, which include GameChanger for open pricing, ScoreBoard for intelligent reporting, PlayMaker for personalization, and BlockBuster for contracted-business optimization.

For more information, visit http://duettocloud.com.

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Duetto founders, left to right, Chief Technology Officer Craig Weissman, Chief Marketing & Strategy Officer Marco Benvenuti and CEO Patrick Bosworth. duetto warburg-pincus-logo-580×358
Hogg Robinson bought by AMEX business travel arm https://dev.traveldailymedia.com/hogg-robinson-bought-amex-business-travel-arm/ Tue, 13 Feb 2018 05:37:08 +0000 http://www.traveldailymedia.com/?p=444242 The post Hogg Robinson bought by AMEX business travel arm appeared first on TD (Travel Daily Media) Brand TD.

American Express Global Business Travel (GBT), the corporate travel arm of American Express, purchased Hogg Robinson Group plc (HRG), a global B2B travel management company, for roughly £400 million (US$554.77 million).  Expected to close in Q2 2018, the cash transaction is conditioned on receipt of antitrust, shareholder and other regulatory approvals. This comes on the heels […]

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American Express Global Business Travel (GBT), the corporate travel arm of American Express, purchased Hogg Robinson Group plc (HRG), a global B2B travel management company, for roughly £400 million (US$554.77 million). 

Expected to close in Q2 2018, the cash transaction is conditioned on receipt of antitrust, shareholder and other regulatory approvals. This comes on the heels of GBT’s 35% equity share purchase from former American Express GBT Spain minority shareholder Barceló.

The HRG purchase was endorsed by the GBT board of directors, according to its chairman Greg O’Hara. “I am excited at the prospect of creating a truly world-class travel management company using the best available talent from both HRG and GBT,” he shared.

“This will enable the combined group to focus on additional value creation for customers and the marketplace, while generating new efficiency and growth opportunities for the business. Customers and travellers will benefit from the combined group’s complementary geographical footprint and technology offering,” O’Hara added.

Both companies were known for recent investments in people and technology even as the corporate travel sector is still recovering from challenges such as the evolution of existing systems/roles, and decline in support from related industries, among others.

The resulting merger would offer clients and travellers a more comprehensive range of travel management products and services. In GBT‘s own words, it is expected to:
· Accelerate growth by utilising complementary footprints and solutions to provide additional benefits to clients
· Create the ability to combine two advanced travel tech and development platforms to create better products and services to serve clients and travellers
· Deliver synergies through cost savings and scale benefits; and
· Leverage each company’s existing infrastructure and technology capabilities to maximise efficiencies across the business

“The complementary geographical footprints of each company will improve the global scale and reach of our business, enabling us to achieve efficiencies across a best-in-class platform and accelerate growth,” said Doug Anderson, GBT CEO.

“The technology roadmaps of each business provide a powerful platform from which to drive future innovation. We will deliver a superior client and traveller experience through fully-integrated travel management solutions, including booking and expense management products.”

David Radcliffe, HRG CEO replied, “I am particularly excited and heartened by GBT’s reassurance that it will be utilising the best talent and technology from within both organisations to create a truly world-class, leading-edge organisation, which will bring benefits to our clients, colleagues and supplier partners alike.”

A GBT representative added that while the resulting brand identity is still up for review as part of the integration process, “the acquisition is about combining the best of GBT and HRG products and services for the benefit of our customers.”

HRG also announced separately that it sold Fraedom, its payments and expenses technology arm, to Visa to the tune of £141.75 million (around US$196.58 million). Although subject to shareholder approval with a positive or negative post-closing adjustment for cash, debt and working capital (in the case of working capital, limited to up to £4 million in aggregate), the sale is set for completion by March 2018.

“Today’s deal is attractive for HRG shareholders and an exciting next step for Fraedom,” said William Brindle, HRG COO. “This combination will mean that Fraedom’s employees and their clients will benefit from Visa’s reach and deep knowledge of the digital payments industry.”

GBT is a joint venture between American Express and an investor consortium formed by Certares, Macquarie Capital, Qatar Investment Authority and BlackRock which handles fund management. HRG, its erstwhile rival, began as City of London insurance firm in 1845 but is now consulted by corporations across 120 countries for its expertise and brand equity in travel, meetings, payments and expense management.

 

 

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China Lodging Group and TPG purchase 2 Beijing hotels for USD20 million https://dev.traveldailymedia.com/china-lodging-group-tpg-partnership/ Tue, 30 Jan 2018 01:43:13 +0000 http://www.traveldailymedia.com/?p=443592 The post China Lodging Group and TPG purchase 2 Beijing hotels for USD20 million appeared first on TD (Travel Daily Media) Brand TD.

China Lodging Group (Huazhu), a fast-growing multi-brand hotel group in China, has announced it has formed a joint venture with TPG Capital Asia (TPG). The deal is an 80 -20% split -- in China Lodgings Group favour.

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China Lodging Group (Huazhu), a fast-growing multi-brand hotel group in China, has announced it has formed a joint venture with TPG Capital Asia (TPG). The deal is an 80 -20% split — in China Lodgings Group favour.

The joint venture has entered into a share purchase agreement to acquire 100% equity interest of two hotel properties in Beijing — Novotel Beijing Sanyuan and Ibis Beijing Sanyuan – at a cash consideration of RMB 1.18bn from Ascendas Hospitality Trust (Singapore), subject to customary post-closing adjustments. This acquisition is subject to regulatory approvals and is expected to close in the first half of 2018. Post-closing, the Joint Venture will renovate the hotels and Huazhu will continue to serve as operator. Hitone Capital, a boutique real estate focused investment firm, provided advisory service on the transaction, and will continue to provide support on closing and asset management.

 

Commenting on the Acquisition, Jenny Zhang (main picture), chief executive officer of the company, said: “We are delighted to announce the acquisition of Novotel Beijing Sanyuan and Ibis Beijing Sanyuan by our joint venture with TPG. The acquisition enables us to create new flagship hotels by renovation and operational improvement. It will not only strengthen our upscale brands, but also generate good return for our invested capital. Going forward, light asset model will continue to be Huazhu’s primary focus. Meanwhile, Huazhu will work with investment partners through minority participation to create more flagship hotels and generate more investment return based on our strong operational expertise.”

With limited space for new development, China’s first-tier cities have entered a period of urban renewal as they look for better planning and more efficient use of commercial properties. Novotel Beijing Sanyuan and Ibis Beijing Sanyuan are both located in prime locations in Chaoyang District (below), Beijing’s CBD.

By partnering with leading investment funds, Huazhu not only secures prime locations to expand its flagship upscale hotels, but also takes a share of asset appreciation by improving the operational efficiency. As more and more upscale and luxury hotel owners are disposing under performing assets, the company is anticipating more hotel property opportunities in the future.

 

“As our first foray into China’s commercial property investment market, we are very excited to be working together with a well-respected investment and operation partner like China Lodging Group,” said Chang Sun (above), TPG’s managing partner in China.  “TPG has a history of investing across a wide range of asset classes, and we are committed to finding more diverse ways to generate value for our investors.”

China Lodging does not expect this transaction to have any significant impact on its revenue and profit in 2018. The cash outflow for this transaction will be approximately 20m USD.

For more information, please visit the Company’s website: http://ir.huazhu.com.

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Frozen Lime Asia partner up with Rategain in strategic alliance https://dev.traveldailymedia.com/443462/ Fri, 26 Jan 2018 02:17:22 +0000 http://www.traveldailymedia.com/?p=443462 The post Frozen Lime Asia partner up with Rategain in strategic alliance appeared first on TD (Travel Daily Media) Brand TD.

Frozen Lime Asia, a consultant specialising in revenue management, distribution, sales and marketing for hospitality and tourism sectors, has announced its strategic alliance with RateGain, a global leading provider of cloud-based hospitality and travel technology solutions.

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Frozen Lime Asia, a consultant specialising in revenue management, distribution, sales and marketing for hospitality and tourism sectors, has announced its strategic alliance with RateGain, a global leading provider of cloud-based hospitality and travel technology solutions.

Sharing the news, Ms Jagdish Sandhu (main picture), CEO & Co-founder of Frozen Lime Asia said, “Frozen Lime Asia is pleased to partner with RateGain as they have a suite of solutions which can help us with our Revenue Management services to clients. In this very dynamic environment that hospitality players work in now, with almost everything readily available in the digital space for travellers and hotel guests, Revenue Management specialists need solutions that provide needful data, a robust dashboard, pricing notifications, rate tracking, and more. All these combine to help make sound business decisions on-the-go, to act faster to market forces and stay on top of the game.”

 

Commenting on the partnership, Sushmit Mazumdar, manager of sales for Rategain, said, “We are very pleased to be associated with Frozen Lime Asia. Our partnership is the right stepforward as it will help us extend our advanced data analytics and pricing intelligence technology to a wider network of hoteliers, helping them make informed decisions and attain greater profitability. We also hope to enable hospitality companies to manage all aspects of their revenue management needs seamlessly via an integrated

portfolio of solutions. Together we aim to provide more value to our customers and hope the synergies lead to positive results.”

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Preferred Hotels & Resorts reveal revenue of $1.35 billion in 2017 https://dev.traveldailymedia.com/443413/ Thu, 25 Jan 2018 01:23:40 +0000 http://www.traveldailymedia.com/?p=443413 The post Preferred Hotels & Resorts reveal revenue of $1.35 billion in 2017 appeared first on TD (Travel Daily Media) Brand TD.

Preferred Hotels & Resorts, has announced its 2017 year-end results. In 2017, the company generated $1.35 billion in reservations revenue on behalf of its member properties worldwide, a 22% increase over 2016; welcomed 103 new properties; and enriched its points-based I Prefer hotel rewards program by launching a mobile app and members-only rates.

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Preferred Hotels & Resorts, has announced its 2017 year-end results. In 2017, the company generated $1.35 billion in reservations revenue on behalf of its member properties worldwide, a 22% increase over 2016; welcomed 103 new properties; and enriched its points-based I Prefer hotel rewards program by launching a mobile app and members-only rates.

“Preferred Hotels & Resorts took a thoughtful approach to growth in 2017, focusing on key programs, disciplines, and regions that would be most effective in helping us not only achieve our brand awareness and financial goals but also create strong, seamless momentum as we enter our Golden Anniversary year,” said CEO Lindsey Ueberroth (main picture). “I am incredibly proud of the success we have continued to achieve year after year, especially since our momentous rebranding in 2015, and am confident that there will be many milestones to celebrate in 2018.”

 

A major driver behind the success Preferred Hotels & Resorts achieved was I Prefer, which was enhanced in April 2017 to create a richer, more personalized experience for loyal guests through the launch of a mobile app and exclusive member rates at select hotels worldwide. These new offerings fueled a strong response for the program overall, producing an 84% increase in stays, more than 50,000 downloads for the I Prefer mobile app, and more than $4.8 million in member rate reservations revenue for participating hotels.

Offering consumers even more destinations to experience while earning or redeeming their I Prefer points, Preferred Hotels & Resorts expanded its worldwide portfolio in 2017 by making great gains in existing destinations such as New York City, Barcelona, Mykonos, Riyadh, Chennai, and Ho Chi Minh City. Last year, the brand also marked first-time presence in key destinations such as Kuala Lumpur, Malaysia, with One World Hotel; Olso, Norway with The Thief; Hamburg, Germany with east Hamburg; and Beirut, Lebanon with Le Bristol. Other notable properties that joined Preferred Hotels & Resorts in 2017 include Primus Hotel Shanghai Hongqiao in China (LVX Collection); Cerulean Tower Tokyu Hotel in Japan (Lifestyle Collection); and the Ambassador Chicago in Illinois (Lifestyle Collection).

For more information on Preferred Hotels & Resorts, its member hotels, programs, products, and services, visit www.PreferredHotels.com.

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World Economic Forum: IHG publish 2018 trends report in Davos https://dev.traveldailymedia.com/443352/ Wed, 24 Jan 2018 02:11:45 +0000 http://www.traveldailymedia.com/?p=443352 The post World Economic Forum: IHG publish 2018 trends report in Davos appeared first on TD (Travel Daily Media) Brand TD.

Provenance is the foundation for enduring brand success and has become more important than ever for organisations wanting to succeed in today’s complex consumer environment. That is the finding of the 2018 Trends Report published by IHG (InterContinental Hotels Group) at the World Economic Forum in Davos.

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Provenance is the foundation for enduring brand success and has become more important than ever for organisations wanting to succeed in today’s complex consumer environment. That is the finding of the 2018 Trends Report published by IHG (InterContinental Hotels Group) at the World Economic Forum in Davos.

In the sixth edition of this annual report series, IHG reveals The Provenance Chain; five interconnected stages which provide a demonstrable link between provenance and sustainable growth.

As businesses increase their focus on strengthening their relationships with their customers, the report says that provenance can play a key role in reinforcing trust and credibility in the minds of customers. Provenance provides continuity and consistency in a fast-changing world and across the growing multitude of platforms through which customers engage with brands, and that builds trust, which is a key element of perceived value. Trust, in turn, creates preference over other equally-priced brands and increases customer loyalty.

IHG chief executive officer, Keith Barr (main picture), commented: “In today’s uncertain and fragmented world, a brand’s provenance links its past, present and future, delivering an assurance of expertise, authenticity and authority that can deepen consumer trust. We believe provenance in a brand is an essential foundation for industry leadership and enduring success, which is why it is at the heart of IHG’s approach to our individual hotel and corporate brands. The 2018 IHG Trends Report brings to life a clear connection between a brand’s provenance and its ability to deliver sustainable growth.”

The report defines provenance as a brand’s consistent, relevant and distinctive heritage. However, while provenance has its roots in where a brand has come from, the report makes clear that it isn’t about preserving the past, but building on heritage as a foundation for the present and future.

Barr added: “Loyalty is extremely important to IHG. Our brands have been delivering True Hospitality to people around the world for over 70 years. Throughout that time, we have created deep-seated trust in our brands, building our reputation into the leading and truly global hotel business we are today. We want to build loyalty among guests, among franchisees and among employees. There are various ways in which we do this, including through our industry-leading IHG Rewards Club loyalty programme. But it is the provenance of both our individual brands and the IHG corporate brand which underpins everything and builds true trust and preference over generations.”

The full report is available for download here.

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Half of all Indian aviation equities up for sale to foreign investors https://dev.traveldailymedia.com/namaskarni-hao-india-hastens-process-opening-airspace/ Mon, 15 Jan 2018 22:59:42 +0000 http://www.traveldailymedia.com/?p=442805 The post Half of all Indian aviation equities up for sale to foreign investors appeared first on TD (Travel Daily Media) Brand TD.

The first session of China Aviation Trends Conference was held on January 12, 2018 (CST), focusing on Indian aviation market opportunities. Professionals from Chinese and Indian governments, airlines and airports discussed the issues about Sino-Indian aviation development.

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The first session of China Aviation Trends Conference was held on January 12, 2018 (CST), focusing on Indian aviation market opportunities. Professionals from Chinese and Indian governments, airlines and airports discussed the issues about Sino-Indian aviation development.

Anil Kumar Rai (main picture), consul-general of India in Shanghai, initially gave an overview of the investment environment in India. Mr. Rai said, India has been one of the most open economies for foreign direct investment (FDI) with the progress of liberalization.

On January 11, Indian government opened 49 percent of its aviation equities to foreign investment, revealing a superb opportunity for foreign investors.

The Indian aviation market is experiencing a rapid growth. In 2006-2016, Indian air passenger volume increased from 72 million to 230 million, while freight volume rose from 50 MMT to 300 MMT. The number of aircraft also rose from 25 sorties in 2000 to 950 sorties in 2016. Vijai Agrawal (below), former chairman of the Airports Authority of India (AAI), predicted that India will ripen into the third largest aviation market in the world in 2020 with its domestic capacity ranking fourth  behind the United States, China and Japan.

 

Subir Hazra (below), associate vice president & head of strategic planning for Delhi International Airport, said that India is one of few nations with a sustainable improvement of 18 percent in civil aviation passenger volume in recent years, this proportion reaching 22 percent in 2017 fiscal year. He also predicted that total passenger volume of Indian civil aviation in 2019 will rank the sixth in the world and promote to the third place in 2028 next to China and the United States.

Furthermore, Mr Hazra also introduced the Public-Private Partnership (PPP) by presenting its operation in Delhi International Airport. Vijai Agrawal added, the prosperity of PPP will bring more investment to the existing airports and greenfield airports in India, and the amount of investment is expected to reach 45 billion USD in 2030.

 

There are 5 commercial airlines providing Sino-Indian air routes by operating 42 flights per week. As a result, “transit” has become a keyword in reciprocal visits between two countries. Stone Luo, Chief Analyst of CADAS, said that 60 percent of passengers tend to choose transit stations in their Sino-Indian journeys, among which Guangzhou and Kunming are the most popular ones based on their geographical advantages.

From January to October in 2017, the number of Indian travelers passing through Kunming to the United States is 1699, and the number to South Korea is 1075. In the future, Kunming Changshui International Airport (KMG) will not only play its role of transfer station for Chinese passengers to India, but also for connecting India with North America and Northeast Asia.

 

According to Ctrip data, Mumbai ranks behind only Delhi as the most popular destination for China. In Top10 routes between India and China, search volume of Shanghai – Mumbai is the same as the volume of Beijing – Delhi and Guangzhou – Delhi. Experts point out that Mumbai can be used as a potential transit airport to Europe, the United States, and the Middle East with a sufficient capacity to fly to other cities in India.

In the future, with the global ranking of Indian aviation market soaring, China is also expected to become the largest aviation market in the world. China Aviation Trends Conference will continuously bring insights into global market change and spread “worldwide experience” to the global aviation industry.

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consul-general of India in Shanghai Vijai Agrawal Subir Hazra INdia 1
Despite difficult winter Finnair passenger volume keeps climbing https://dev.traveldailymedia.com/437114/ Wed, 10 Jan 2018 22:59:52 +0000 http://www.traveldailymedia.com/?p=437114 The post Despite difficult winter Finnair passenger volume keeps climbing appeared first on TD (Travel Daily Media) Brand TD.

Finnair’s December passenger volume reached a new high, the number of passengers per year increased by more than one million to close to 12 million passengers.

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Passenger volume in December reached a new high for Finnair, with the number of passengers per year increased by more than one million to close to 12 million.

In December, Finnair’s overall capacity measured in Available Seat Kilometres increased by 15.1 percent year‐on‐year, and traffic measured in Revenue Passenger Kilometres grew by 17.4 percent. The number of passengers carried in December increased by 13.0 percent year-on-year to 951,400 passengers, breaking Finnair’s December record. The passenger load-factor increased by 1.6 percentage points to 80.4 percent.

The capacity in Finnair’s largest traffic area – Asia, also increased by 20.8 percent in December. Finnair’s route network in Asia was otherwise the same as in the comparison period, but flights were operated also to the new seasonal destination Goa. Also the number of frequent trips to Bangkok, Singapore, Hong Kong, Delhi and Tokyo increased year-on-year. Traffic measured in RPK grew by 23.6 percent, and the passenger load-factor increased by 1.9 percentage points to 83.2 percent.

 

In North Atlantic traffic capacity increased by 15.9 percent. Flights to new leisure destination Havana started and operations to New York, Miami and the new seasonal destination Puerto Vallarta, launched in November, continued. Traffic increased by 15.6 percent and the passenger load-factor decreased by 0.2 percentage points to 78.2 percent.

Finnair’s capacity in European traffic increased by 7.2 percent reflecting added capacity especially to Stockholm, Copenhagen, Berlin and Moscow. Traffic measured in RPK grew by 9.7 percent year-on-year. The passenger load-factor increased by 1.8 percentage points to 78.5 percent. Domestic capacity increased by 14.1 percent and traffic by 10.2 percent; the passenger load-factor decreased by 2.5 percentage points to 69.8 percent.

Finnair has ordered 19 A350s

 

“The traffic measured in RPK and capacity both continued to grow in December. Exceptionally difficult winter and wind conditions and their multiplier effects, and the overtime working ban by Finnish aviation union, hampered the traffic especially in Finland and Europe. Difficult conditions were reflected especially in flight punctuality and regularity,” says Finnair CFO Pekka Vähähyyppä (main picture).

“In terms of traffic performance, the fourth quarter was nonetheless good. Our Q4 capacity increased by 17.2 percent and traffic measured in RPK grew by 20.2 percent year-on-year. We carried nearly three million passengers in the last quarter of the year and close to 12 million in 2017,” Vähähyyppä continued.

According to preliminary data, Finnair’s unit revenue, or RASK (total Group revenue divided by ASK), decreased in October–December by 3.4 percent year-on-year and totalled 6.72 euro cents. Full year unit revenue increased by 1.8 percent to 6.96 euro cents according to preliminary data.

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Travelport CEO discusses results for third quarter of 2017 https://dev.traveldailymedia.com/travelport-ceo-discusses-results-third-quarter-2017/ https://dev.traveldailymedia.com/travelport-ceo-discusses-results-third-quarter-2017/#respond Wed, 27 Dec 2017 22:59:35 +0000 http://www.traveldailymedia.com/?p=436581 The post Travelport CEO discusses results for third quarter of 2017 appeared first on TD (Travel Daily Media) Brand TD.

Travelport released revenue statistics for the third quarter of 2017, yesterday. Commenting on the numbers Gordon Wilson (main picture), president and CEO of Travelport, cited the Asian market as being particularly important to the strong mid-year result.

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Gordon Wilson, Travelport's president & CEOTravelport released revenue statistics for the third quarter of 2017, yesterday. Commenting on the numbers Gordon Wilson (main picture), president and CEO of Travelport, cited the Asian market  as being particularly important to the revenue increase.

“Our Travel Commerce Platform delivered revenue growth of five percent for the quarter, which included revenue growth across all International regions and a particularly strong performance in Asia where we continue to gain air market share. Our leadership there has been further strengthened by our partnership with India’s largest OTA, MakeMyTrip, together with the signing of Traveloka, which is the leading OTA in Indonesia and will now leverage our technologies to expand across Asia. In Beyond Air, we continue to see good momentum in hotel and car bookings, while our commercial payments business eNett accelerated to 30 percent revenue growth for the quarter, driven by transaction growth with several major European and Asian OTAs.

Mr Wilson continued, “Our Adjusted EBITDA decreased in the quarter, with several of our planned technology investments moving from design to implementation phase, as we further expand our products and capabilities. We also incurred higher commercial expenditure relating to the growth and ongoing implementation of our signed new business.”

As our mix of business continues to pivot towards the fast-growing online channel, I am confident that these investments will drive sustainable longer-term growth. For the full year 2017, we anticipate Adjusted EBITDA growth to be within the 2 to 4 percent range as guided’, he added.

 

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Mafengwo raise $133 million to lead Chinese online travel industry evolution https://dev.traveldailymedia.com/434892/ https://dev.traveldailymedia.com/434892/#comments Tue, 12 Dec 2017 22:59:03 +0000 http://www.traveldailymedia.com/?p=434892 The post Mafengwo raise $133 million to lead Chinese online travel industry evolution appeared first on TD (Travel Daily Media) Brand TD.

Mafengwo, a Chinese independent online travel platform, has announced that it has closed its Series D fundraising round of $133 million. New investors in this fundraising round include General Atlantic, a leading global growth equity firm, Ocean Link, a private equity firm focused on the fast-growing travel and tourism sector in China, Temasek, an investment company headquartered in Singapore, Yuantai Investment, and Hopu. Existing investors including Capital Today, Qiming Venture Partners, and Hillhouse Capital also participated in this latest financing round.

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Mafengwo, a Chinese independent online travel platform, has announced that it has closed its Series D fundraising round of $133 million. New investors in this fundraising round include General Atlantic, a leading global growth equity firm, Ocean Link, a private equity firm focused on the fast-growing travel and tourism sector in China, Temasek, an investment company headquartered in Singapore, Yuantai Investment, and Hopu. Existing investors including Capital Today, Qiming Venture Partners, and Hillhouse Capital also participated in this latest financing round.

“Chinese consumers from the younger generation have grown up in the era of mobile internet and prefer to explore the world through independent travel,” said Eric Zhang (main picture), managing director and head of China at General Atlantic. “With several years of experience in the online travel industry, Mafengwo is highly regarded by its users due to its high-quality user-generated content and continuous efforts to enhance its mobile product and transaction platform. We continue to see exciting innovation in mobile internet services and believe that the company is well-positioned for growth as Chinese travellers continue to raise their expectations for quality. We look forward to working closely with the Mafengwo team to continue to provide better travel services to Chinese consumers.”

A popular travel application among Chinese millennials

Mafengwo was founded by Gang Chen and Gang Lv in 2010. Initially an online travel community, Mafengwo has grown to become an independent online travel platform that aggregates user-generated reviews of destinations, hotels, attractions, and local activities to provide trip planning advice to self-guided travellers in China. With its unique business model, focused on providing users with both content and the ability to make travel plans through its platform, Mafengwo has become a trusted resource for Chinese travellers. Thanks to its dedicated user base of millennial users, the company has doubled its growth in travel bookings for services including hotels, transportation, and local activities over the past two years.

Gang Chen, co-founder and CEO of Mafengwo, said, “This latest round of capital will allow Mafengwo to further invest in our travel advice, content, and our technology-enabled backend. Furthermore, we plan to upgrade the resources we offer on hotels and destination markets as we continue to leverage the advantages from our diverse community of users whose contributed content drives the success of our platform. I believe that we can lead the evolution of the Chinese online travel industry.”

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Unite and Concur: why WeChat has joined forces with corporate travel giant https://dev.traveldailymedia.com/434323/ https://dev.traveldailymedia.com/434323/#comments Mon, 27 Nov 2017 22:59:43 +0000 http://www.traveldailymedia.com/?p=434323 The post Unite and Concur: why WeChat has joined forces with corporate travel giant appeared first on TD (Travel Daily Media) Brand TD.

Concur, an SAP company and a global provider of travel, expense and invoice management solutions, today introduced an electronic fapiao (a Chinese tax receipt) solution, developed to integrate seamlessly into China’s WeChat platform. Leveraging Concur's global experience in electronic receipt application and WeChat’s powerful user base, the new solution will provide enterprises and their employees with an effortless spend management experience so as to effectively analyze and manage cost.

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Concur, an SAP company and a global provider of travel, expense and invoice management solutions, have introduced an electronic fapiao (a Chinese tax receipt) solution, developed to integrate seamlessly into China’s WeChat platform. Leveraging Concur’s global experience in electronic receipt application and WeChat’s powerful user base, the new solution will provide enterprises and their employees with an effortless spend management experience so as to effectively analyze and manage cost.

“As a global leader in travel and expense, Concur is committed to promoting the development of electronic receipt solutions around the world. With China accelerating the development of its electronic fapiao system, we have developed a localized e-Fapiao solution tailor made for the China market, combining WeChat’s hundreds of millions of users with Concur’s global expertise,” said John Gibbon, senior vice president of Platform, Concur.

 

“The Concur e-Fapiao solution provides real-time access to an employee’s receipt, streamlining the financial management and travel and expense claims process. It showcases the value of the ecosystem built by Concur, and our network of business suppliers and helps Chinese users process their expenses in an easy, accurate, and paperless way.” said Boonthai Hoh, managing director at Concur Greater China.

“We are very excited that WeChat’s e-Fapiao solution is now part of Concur’s Expense solutions. With Concur’s expertise in travel and expense management, we expect that the solution will allow us to deepen our connection with users and expand the usage of e-Fapiao, which will provide users with a more efficient and hassle-free expense experiences”, said John Zhuo, general manager of Industry Cooperation Department, WeChat Business Group.

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AMEX signs former Global Business Travel Association India board member https://dev.traveldailymedia.com/434187/ https://dev.traveldailymedia.com/434187/#comments Thu, 23 Nov 2017 22:59:57 +0000 http://www.traveldailymedia.com/?p=434187 The post AMEX signs former Global Business Travel Association India board member appeared first on TD (Travel Daily Media) Brand TD.

American Express Global Business Travel (GBT) announces today the appointment of Ashish Kishore as the new Managing Director for GBT, India. In his new role, Ashish will have overall management responsibility for GBT's business in India.

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American Express Global Business Travel (GBT) announces today the appointment of Ashish Kishore as the new Managing Director for GBT, India. In his new role, Ashish will have overall management responsibility for GBT’s business in India. He will be part of the Asia Pacific leadership team, reporting into Elyes Mrad,  managing director, international.

Ashish joins GBT from air services provider, dnata, where he was country head for India. In this role Ashish oversaw the entire business strategy, had responsibility for 400 employees and grew the business to its successful position today. In addition, as a board member of the Global Business Travel Association India, Ashish has been instrumental in advocating for the business travel sector and leading discussion around the role travel management companies play.

 

“Ashish’s extensive travel industry knowledge and experience, gained from his leadership roles in the sector, make him an ideal person to lead our business locally” said Elyes (above). “Our business in India is growing rapidly by servicing both multinational and local companies. Ashish has a proven track record of growing travel businesses in India into thriving, successful companies through product development, expanding into new sectors and implementing best practice in operational areas. I am delighted to welcome him to the organization.”

Remarking on his apppointment Ashish said: “GBT has an excellent reputation in India, due largely to its significant investment in technology, supported by exceptional traveler care. This is an exciting time to be joining the company, and I look forward to working with Elyes and the team.”

 

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Air New Zealand experiments with blockchain technology https://dev.traveldailymedia.com/air-new-zealand-experiments-blockchain-technology/ https://dev.traveldailymedia.com/air-new-zealand-experiments-blockchain-technology/#comments Thu, 23 Nov 2017 22:59:07 +0000 http://www.traveldailymedia.com/?p=434183 The post Air New Zealand experiments with blockchain technology appeared first on TD (Travel Daily Media) Brand TD.

Air New Zealand is exploring the use of blockchain-based systems within its business, reinforcing its global reputation for innovation and embracing new and emerging technology.

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Air New Zealand is exploring the use of blockchain-based systems within its business, reinforcing its global reputation for innovation and embracing new and emerging technology.

Blockchain is being used globally to build encrypted, shared platforms, providing a secure and efficient way to track the exchange of goods or information. Air New Zealand is looking at a number of potential use cases for the distributed ledger technology including cargo and baggage tracking, retail, distribution and loyalty programme opportunities.

 

Air New Zealand’s chief digital officer Avi Golan (main picture) says applications of blockchain are developing rapidly, and the airline is excited by the possibilities. “With its built-in efficiency and security, blockchain has the potential to trigger huge innovation in travel, paving the way for new business models and collaboration.”

The airline is partnering with Swiss travel platform Winding Tree, which is developing the world’s first travel marketplace on blockchain to connect suppliers such as airlines and hotels directly to sellers.

“While we are still exploring its benefits, blockchain may offer a streamlined way to retail airfares and ancillary products alongside our current channels. In removing complexity from the sales chain, customers benefit from reduced transactional costs, and airlines benefit from swift and secure sharing of information,” says Mr Golan.

 

 

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A step too far? How four new routes impacted Thai AirAsia profits https://dev.traveldailymedia.com/step-far-four-new-routes-impacted-thai-airasia-profits/ https://dev.traveldailymedia.com/step-far-four-new-routes-impacted-thai-airasia-profits/#respond Sun, 12 Nov 2017 22:59:16 +0000 http://www.traveldailymedia.com/?p=433702 The post A step too far? How four new routes impacted Thai AirAsia profits appeared first on TD (Travel Daily Media) Brand TD.

Asia Aviation Plc. (AAV), majority shareholder of Thai AirAsia (TAA), has released its operating results for Quarter 3 of 2017 with AAV achieving revenues of Baht 8,734 Million and net profit of Baht 261 Million and TAA achieving revenues of Baht 8,734 Million and net profit of Baht 472 Million, serving 4.93 passengers, up 14 percent, while maintaining a load factor of 85 percent, up 1 percentage point year-on-year, ending the quarter with a fleet of 54 aircraft.

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Asia Aviation Plc. (AAV), majority shareholder of Thai AirAsia (TAA), has released its operating results for Quarter 3 of 2017 with AAV achieving revenues of Baht 8,734 Million and net profit of Baht 261 Million and TAA achieving revenues of Baht 8,734 Million and net profit of Baht 472 Million, serving 4.93 passengers, up 14 percent, while maintaining a load factor of 85 percent, up 1 percentage point year-on-year, ending the quarter with a fleet of 54 aircraft.

Mr. Tassapon Bijleveld, CEO of AAV and Thai AirAsia, stated that TAA launched 4 new routes in Q3/2017, flying from Bangkok to Maldives, Jaipur (India), Tiruchirappalli (India), and from Pattaya (U-Tapao) to Hangzhou (China), with all routes well-received.  Moreover, the airline increased frequency on its Chiang Mai- Pattaya (U-Tapao), Bangkok-Chiang Mai, and Bangkok-Phitsanulok routes to accommodate growing domestic travel.

Phuket

Early Birds

TAA added new ways to travel such as its “Pre-Dawn Flights”, which were introduced on the popular Bangkok to Chiang Mai and Bangkok to Phuket routes and allowed passengers to fly before 05.00 a.m., serving both Fly-Thru and early-bird travellers well while also offering increased savings.

TAA’s “AirAsia Red Carpet” service meanwhile responded to the needs of travellers looking for convenience and speed by offering them a special check-in counter, lounge access, priority boarding and baggage claim.

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PyeongChang 2018: Will Visa’s new ‘wearables’ make the podium? https://dev.traveldailymedia.com/pyeongchang-2018-will-visas-new-wearables-make-podium/ https://dev.traveldailymedia.com/pyeongchang-2018-will-visas-new-wearables-make-podium/#comments Thu, 09 Nov 2017 22:59:35 +0000 http://www.traveldailymedia.com/?p=433611 The post PyeongChang 2018: Will Visa’s new ‘wearables’ make the podium? appeared first on TD (Travel Daily Media) Brand TD.

Visa, the  payment technology partner at the Olympic and Paralympic Games, has introduced three commercially available wearable payment devices.

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Visa, the  payment technology partner at the Olympic and Paralympic Games, has introduced three commercially available wearable payment devices, for PyeongChang 2018.

In the spirit of the Olympic Winter Games, Visa created NFC-enabled payment gloves, commemorative stickers and Olympic pins that allow fans and athletes to complete seamless and secure payments with a simple tap at any contactless-enabled terminal.

“It is important to me, as a Winter Olympian, to work with a brand like Visa that not only supports a diverse group of athletes, but also enables an enhanced fan experience for those at to The Games,” said Mikaela Shiffrin (main picture), USA Olympic gold medalist and Team Visa athlete. “Olympic pins are always the most coveted collectibles, these Visa pins really up the ante.”

About the products

Commemorative Olympic Pin: Inspired by the long-standing tradition of collecting commemorative pins at the Olympic Games, Visa is bringing to market four unique lapel pins featuring custom PyeongChang 2018 designs to offer a payment-enabled collectable for fans and athletes to utilize on-site. Cost per pin is KRW5,000 plus desired embedded prepaid amounts valued at KRW30,000 or KRW50,000.

Payment-Enabled Gloves: The average temperature in PyeongChang will be — 4.8 degree celsius[1], so gloves will be a must-have! This payment glove will offer fans a way to pay safely and securely without having to get cold hands. The gloves contain a dual interface chip housed with a contactless antenna capable of completing purchases throughout official Olympic Venues and compatible readers globally. The gloves will come with embedded prepaid amounts valued at KRW30,000 or KRW50,000.

Sticker: With a thin and flexible adhesive design and an embedded dual interface NFC-chip and antenna, these micro-tags can be attached to almost anything to make seamless payments in a moment’s notice. The wearable sticker is available in denominations of KRW30,000, KRW50,000, KRW100,000 and KRW200,000. The collection includes 8 distinct designs including Soohorang — the official PyeongChang 2018 mascot — the Korean flag, and much more.

“We are looking forward to transforming the payment experience for everyone who attends the upcoming Olympic Winter Games in PyeongChang,” said Iain Jamieson, Korea country manager at Visa. “At Visa, we have been working tirelessly to ensure all of the Olympic venues are equipped with the very latest payment capabilities to provide the best experience possible for all those on-site.”

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GEG rolls out WeChat pay in Macau https://dev.traveldailymedia.com/geg-responds-rolls-wechat-pay-macau/ https://dev.traveldailymedia.com/geg-responds-rolls-wechat-pay-macau/#comments Mon, 06 Nov 2017 22:59:35 +0000 http://www.traveldailymedia.com/?p=433446 The post GEG rolls out WeChat pay in Macau appeared first on TD (Travel Daily Media) Brand TD.

Galaxy Entertainment Group (GEG) launches a partnership with ICBC (Macau) and WeChat, making it the first hospitality and entertainment group in Macau to accept WeChat pay throughout its properties, commence with a variety of 136 outlets across GEG's spectacular portfolio of world-class hotels, dining destinations, spas, entertainment facilities and retailers.

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Galaxy Entertainment Group (GEG) launches a partnership with ICBC (Macau) and WeChat, making it the first hospitality and entertainment group in Macau to accept WeChat pay throughout its properties, commence with a variety of 136 outlets across GEG’s spectacular portfolio of world-class hotels, dining destinations, spas, entertainment facilities and retailers.

GEG’s first-in-Macau partnership with ICBC (Macau) and WeChat answers the needs of mainland Chinese visitors to Macau, who overwhelmingly prefer to pay with e-wallets such as WeChat Pay.

Guests can now pay with the new system at a wide range of establishments, with a total of 136 outlets launching the service including: Premier hotels The Ritz-Carlton, Macau, JW Marriott Hotel Macau, Banyan Tree Macau, Hotel Okura Macau, Galaxy Hotel, Broadway Hotel and StarWorld Hotel

Raymond Yap, senior director of International Premium and Mass Market Development for GEG, said, “GEG is proud to embark upon a first-in-Macau partnership with ICBC (Macau) and WeChat; two leaders at the forefront of their own industries who share our own commitment to delivering innovative, convenient experiences.

By launching WeChat Pay across GEG properties, we are providing an exclusive opportunity for Macau’s valued Mainland China visitors to use a preferred payment method for their comfort, security and convenience. In the meantime, we are also supporting SME throughout this launch to build up more business connections with Mainland Chinese consumers.”

GEG will debut WeChat pay across its three flagship properties – Galaxy Macau, Broadway Macau and StarWorld Hotel.

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Brits eye overseas holidays as Sterling shows signs of life https://dev.traveldailymedia.com/brits-eye-overseas-holidays-as-sterling-shows-signs-of-life/ Mon, 24 Apr 2017 00:10:21 +0000 http://www.traveldailymedia.com/?p=249694 The post Brits eye overseas holidays as Sterling shows signs of life appeared first on TD (Travel Daily Media) Brand TD.

Better-than-expected currency sales in the first quarter indicate strong and sustained demand for overseas holidays, Post Office Travel Money has declared in its latest Holiday Money Index. Announcing year-on-year increases of 55 per cent increase in currency sales made online for the year to 31 March and of 47 per cent for April to date, […]

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Better-than-expected currency sales in the first quarter indicate strong and sustained demand for overseas holidays, Post Office Travel Money has declared in its latest Holiday Money Index.

Announcing year-on-year increases of 55 per cent increase in currency sales made online for the year to 31 March and of 47 per cent for April to date, the Post Office said that the April surge comes at a time when sterling has recovered from its 2016 low point last October. The UK’s largest provider of foreign currency reports that only two of its top 40 bestselling currencies currently remain stronger against sterling than six months ago.

Andrew Brown of Post Office Travel Money said: “Sterling’s recovery comes at a good time as the holiday season gets underway in earnest but it is also true that there was no sign of a slowdown in currency sales in the first three months of the year when the pound was weaker. This is a clear indication of how resilient consumer demand is for foreign holidays.

“We have seen healthy levels of growth in sales for two-thirds of our 20 bestsellers including the euro and dollar and only marginal falls for the remainder. At the same time, there has been double-digit percentage growth for 18 of our 20 fastest growing currencies, two-thirds of which are for some of the world’s most exotic destinations.”

While Post Office Travel Money reports year-on-year growth of six per cent in January-March sales of the euro, its bestselling currency by far, there have been bigger increases for other European currencies – most notably the Turkish lira. A 46 per cent rise in lira sales suggests Turkey is recovering from depressed holiday demand last year as currency purchases are now close to January-March 2015 levels.  Sterling’s strength against the lira – up almost 15 per cent year-on-year and 25 per cent on October 2016 – could be a factor.

Eastern European holidays look set to flourish as currency sales continue to gain ground for city break favourites Budapest and Prague, and the Balkans beach resorts of Bulgaria and Croatia. Bulgarian lev sales have surged 33 per cent to make the lev the Post Office’s fifth fastest growing currency at a time when the latest Post Office Holiday Costs Barometer found Bulgaria’s top resort, Sunny Beach, to be the best value European beach resort.  Croatian kuna sales are also on the rise (+18 per cent) for the sixth year running.

City breaks are now the most popular type of holiday and both Budapest and Prague are benefiting.  An 18 per cent rise in forint sales puts the Hungarian currency into its highest ever position in the Post Office top 20 (14th) and within spitting distance of the Czech koruna (13th, sales up 9 per cent).

Two-thirds of currencies in the table of 20 currencies showing the biggest growth in 2017 are for long haul destinations. Sales have risen 60 per cent year-on-year for the Indonesian rupiah, which has moved up from fifth place last year to top the chart now. Two other Far Eastern currencies have also gained ground – the Malaysian ringgit (+33 per cent, 6th place) and Vietnamese dong (+17 per cent, 14th place) – suggesting Bali, Malaysia and Vietnam are attracting more tourists at the expense of Thailand, where sales of the Thai baht have fallen.

Where is best for the holiday pound?

Seven of the 10 currencies against which sterling is performing best compared with a year ago are European ones. While the Turkish lira is the only European currency weaker than last April (-14.8 per cent), the Swedish kronor is worth just 1.2 per cent more against sterling than a year ago and a range of other European currencies, including the euro, are only 4.6-5.6 per cent stronger.  Further afield, sterling is 1.1 per cent stronger year-on-year against the Malaysian ringgit while it is 5.1 per cent weaker against the Chinese yuan than last April.

All 10 of these currencies have weakened against sterling since its low point in October 2016. Aside from the pound’s six-month 25 per cent gain against the Turkish lira, the biggest recovery of 11 per cent has been against the Hungarian forint.

Where has the pound lost most ground?

The four currencies that have strengthened most against sterling also did so in October 2016 when the last Holiday Money Index was published.  However, increases of 23.8 per cent for the Russian ruble, 19.1 per cent for the South African rand and 18.9 per cent for the Brazilian real should be viewed in the context of the big sterling gains made against them between 2015 and 2016.  The fourth currency to have strengthened most year-on-year is the Icelandic krona (-19.8 per cent) but this is part of a longer growth trend. Since 2012 the krona has risen in value over a third against the pound but, despite this, it is again one of the Post Office’s Fastest Growing Currencies, with sales up 18 per cent year-on-year.

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Sterling decline impacting outbound tourism https://dev.traveldailymedia.com/sterling-decline-impacting-outbound-tourism/ Mon, 20 Feb 2017 16:20:16 +0000 http://www.traveldailymedia.com/?p=247342 The post Sterling decline impacting outbound tourism appeared first on TD (Travel Daily Media) Brand TD.

New research from travel insurance specialist Columbus Direct reveals that the falling pound has left British holidaymakers lighter in the pocket, with 41 per cent saying that it has had an impact on their holiday plans. Those jetting off to the US would receive US$88 less (£70.27) in exchange for £500 on 1 February 2017 […]

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New research from travel insurance specialist Columbus Direct reveals that the falling pound has left British holidaymakers lighter in the pocket, with 41 per cent saying that it has had an impact on their holiday plans.

Those jetting off to the US would receive US$88 less (£70.27) in exchange for £500 on 1 February 2017 than exactly one year ago. Although the currency has gradually recovered over the last six months following the Brexit referendum, Brits still would have US$30.45 (£24.41) less to spend per £500 across the Atlantic now than on 1 August 2016.

Those travelling to Europe also face lighter wallets, as anyone heading off on a ski trip this February will notice. Travellers going to France or Austria now get €76 (£65.15) less in return for £500 than last February, while holidaymakers in the Swiss Alps are CHF110 (£87.93) lighter in their pocket compared to last winter.

Of the top twenty destinations visited by British travellers3, those visiting Australia and Norway will lose out the most in terms of holiday cash. A year ago Brits heading down under would have been able to exchange £500 for A$1,014, but they will now only receive A$830 in exchange, a reduction equivalent to £111.27. Similarly, visitors in Norway now have kr1070 (£103.13) less to spend per £500 on their holiday than 12 months ago.

 

Table 1: Change in currency values over last 12 months for top 20 countries most visited by Brits

Country Currency On 1st Feb 2016 £500 gets you.. On 1st Feb 2017 £500 gets you… One year change
France Euro €660 €584 -€76 (-£65.15)
Spain Euro €660 €584 -€76 (-£65.15)
Irish Republic Euro €660 €584 -€76 (-£65.15)
USA US Dollar $718 $630 -$88 (-£70.27)
Germany Euro €660 €584 -€76 (-£65.15)
Italy Euro €660 €584 -€76 (-£65.15)
Netherlands Euro €660 €584 -€76 (-£65.15)
Poland Polish Zloty ‎zł2,904 ‎zł2,523 -zł381 (-£75.62)
Belgium Euro €660 €584 -€76 (-£65.15)
Switzerland Swiss Franc CHF733 CHF623 -CHF110 (-£87.93)
Portugal Euro €660 €584 -€76 (-£65.15)
Romania Romanian Leu RON2,984 RON2,640 -RON344 (-£65.17)
Austria Euro €660 €584 -€76 (-£65.15)
India Indian Rupee ₹48,795 ₹42,550 -₹6,245 (-£73.38)
United Arab Emirates Emirati Dirham AED2,638 AED2,313 -AED325 (-£70.26)
Australia Australian Dollar $1,014 $830 -$184 (-£111.27)
Denmark Danish Krone kr4,923 kr4,340 -kr583 (-£67.11)
Sweden Swedish Krona kr6,133 kr5,497 -kr636 (-£57.78)
Norway Norwegian Krone kr6,257 kr5,187 -kr1070 (-£103.13)
Czech Republic Czech Koruna ‎Kč17,823 ‎Kč15,767 – Kč2056 (-£65.20)

Source: Columbus Direct, 2017

The weakened currency is having a real impact on Brits’ travel plans this year, with an estimated 21 million people (41 per cent) saying that it will affect their choice of destination and holiday style. Younger people (18-34) in particular are having to tighten their belts, with 51% saying that they are making changes to their holiday plans to save costs, compared to just 32 per cent of those aged over 55.

While the less favourable exchange rates may have dampened Brits’ enthusiasm to travel abroad, the domestic tourism industry seems to have profited as a result. Eight million (16 per cent) people plan to ‘staycation’ instead of ‘vacation’ by spending more time in the UK. Brits are also becoming more financially cautious and are coming up with different ways to keep holiday costs down – 11 per cent plan to set a budget in advance, another eight per cent intend to reduce the number of holidays and a further seven per cent plan to travel on a self-catering basis to save money.

Rob Thomas, head of Brand at Columbus Direct said: “Anyone heading to Europe, the US and Australia especially will feel the pinch of less favourable exchange rates. We have enjoyed a strong currency for many years so the reduced strength of the pound is going to be noticeable for holidaymakers when it doesn’t go as far as it used to.

“Setting a budget for the holiday itself and spending money while abroad can be a good way to help travellers remain within budget. Many European cities also offer well-priced visitor passes that often include transportation savings, plus discounts for museum visits and events and these can provide good value to visitors. Travellers should make sure they buy travel insurance as soon as they book their holiday so they are covered in case of cancellation and delays, and if they plan to travel several times a year, it is often a lot cheaper to buy an annual travel policy than a single trip cover.”

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Sterling decline sees rise in North American visitors to the UK https://dev.traveldailymedia.com/sterling-decline-sees-rise-in-north-american-visitors-to-the-uk/ Mon, 30 Jan 2017 15:29:31 +0000 http://www.traveldailymedia.com/?p=246506 The post Sterling decline sees rise in North American visitors to the UK appeared first on TD (Travel Daily Media) Brand TD.

A study by STR and Tourism Economics indicates that the United Kingdom’s tourism and hospitality sectors have benefited from an increase in arrivals from North America, brought on by the devaluation of the British pound following the June EU Referendum.  According to the International Passenger Survey (IPS) conducted by the Office for National Statistics, U.K. arrivals […]

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A study by STR and Tourism Economics indicates that the United Kingdom’s tourism and hospitality sectors have benefited from an increase in arrivals from North America, brought on by the devaluation of the British pound following the June EU Referendum. UK-sterling

According to the International Passenger Survey (IPS) conducted by the Office for National Statistics, U.K. arrivals from North America were up 6.8% between July and October 2016 when compared with the same period in 2015. From January to June, the “pre-Brexit” vote period, arrivals from North America increased at a more modest rate (+0.5%) compared with first six months of 2015.

Meanwhile, arrivals from Europe have dropped off slightly following the referendum, down 0.1% between July and October 2016. Overall during the first 10 months of 2016, international arrivals to the U.K. were up 1.7% to 31.4 million.

October 2016 year-to-date figures also show that holiday arrivals to the U.K. were down 3.7% overall. But between July and October, this rate of decline slowed somewhat to 2.9%. Meanwhile, business trips to the U.K. still showed growth in 2016, but slowed from 4.3% between January and June to 1.8% between July and October.

“While we’ve seen a recent slowdown in business travel to the U.K., it’s important to put it in perspective that 2015 was a standout year for business arrivals, up 7.1% compared with 2014,” said David Goodger, Director for Tourism Economics in Europe. “What remains to be seen is how holiday travel will be impacted in summer 2017. As the referendum vote occurred towards the end of June, when many already had July or August vacations planned, we’ll see how a favorable exchange rate for holiday visitors from North America will play out this coming summer.”

For U.K. hotels, performance growth has been mixed between London and Regional U.K. (U.K. excluding London). In 2016, hotels in Regional UK recorded a 3.1% increase in revenue per available room (RevPAR), driven solely by an increase in average daily rate (ADR) as occupancy remained flat. London, on the other hand, recorded a 0.9% decline in RevPAR, brought on by flat ADR coupled with a 0.9% drop in occupancy. STR analysts attribute the decline to an increase in supply and a slow start to the year.

The most recent market forecast report from STR and Tourism Economics projects that hotels in London will be affected by shifts in demand throughout 2017, which will likely bring down both occupancy and ADR growth throughout the year. On the other hand, hotels in Regional U.K. are expected to post RevPAR growth within the range of 2% to 6% from month to month throughout 2017.

“While the capital has faced challenges in 2016, we have certainly not seen a slowdown in development,” said Robin Rossmann, STR’s international managing director. “London currently has more than 15,000 hotel rooms under construction or planned for development, which is more than all countries in Europe except Germany and Russia. This supply growth will put downward pressure on occupancy levels, but recent signs are showing the weak Sterling may help to grow arrivals sufficiently to offset this. For Regional U.K. hotels, an increase in ‘staycations’ should boost performance, as outbound travel has become more expensive for U.K. residents given the current exchange rate.”

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Agents stung by rise in demand for exotic travel https://dev.traveldailymedia.com/agents-stung-by-rise-in-demand-for-exotic-travel/ Wed, 07 Dec 2016 11:04:37 +0000 http://www.traveldailymedia.com/?p=244703 The post Agents stung by rise in demand for exotic travel appeared first on TD (Travel Daily Media) Brand TD.

New research from eNett International, a provider of dedicated B2B travel payment solutions, has found that European travel companies trying to keep up with the growing consumer demand for exotic holidays are being impacted by additional costs as they manage more currencies and multiple exchange rates.  The research, carried out by market research firm Phocuswright, revealed that the […]

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The post Agents stung by rise in demand for exotic travel appeared first on TD (Travel Daily Media) Brand TD.

New research from eNett International, a provider of dedicated B2B travel payment solutions, has found that European travel companies trying to keep up with the growing consumer demand for exotic holidays are being impacted by additional costs as they manage more currencies and multiple exchange rates. 

The research, carried out by market research firm Phocuswright, revealed that the number of European travel companies accepting payments in more than 10 different currencies has doubled from 6% to 12% in the past three years. Moreover, there is a core group of travel agencies going even further to meet the needs of adventurous tourists, with 6% now grappling with over 50 different currencies.

This shift is driven by growing consumer demand to visit travel destinations further afield, with MasterCard’s Global Destination Cities Index finding that, of the top 20 city destinations across the globe, Osaka, Tokyo, Seoul, Bangkok and Dubai were the fastest growing in 2015/2016. Overall, the latest Index found that cities in Asia-Pacific are increasingly becoming the ‘go-to’ destinations, followed by those in the Middle East & Africa and Latin America.

While this presents opportunities for travel companies to do business in new markets, it also means additional foreign exchange and cross-border fees as well as increased administration costs. eNett’s analysis shows that European travel companies relying solely on their bank for international payments could be paying up to 3% more compared to alternative options3 – a cost which could significantly erode margins.

eNett CEO and MD, Anthony Hynes, said: “Some travel agencies find the cost of international payments outweigh the benefits of offering such diverse content but the trend for exotic holidays can’t be ignored. Instead, travel companies should be looking to alternative solutions which better match modern consumer trends. This includes offering local funding and settlement which significantly reduces costs, through to real-time conversion that allows agents to lock-in rates at the time of booking to protect from negative FX fluctuations. Taking the simple step to re-examine cross-border payment strategies will allow agencies to satisfy customer demand while keeping costs low.”

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Qatar Airways launches Apple Pay services https://dev.traveldailymedia.com/qatar-airways-launches-apple-pay-services/ Tue, 29 Nov 2016 11:22:44 +0000 http://www.traveldailymedia.com/?p=244373 The post Qatar Airways launches Apple Pay services appeared first on TD (Travel Daily Media) Brand TD.

Qatar Airways has launched its latest payment feature – Apple Pay – becoming the first Gulf carrier to offer the revolutionary ‘mobile wallet’ solution across all 12 countries where Apple Pay is available. Available on any iOS compatible device, Apple Pay allows travellers to securely book their next journey on Qatar Airways across the airline’s […]

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Qatar Airways has launched its latest payment feature – Apple Pay – becoming the first Gulf carrier to offer the revolutionary ‘mobile wallet’ solution across all 12 countries where Apple Pay is available.

Available on any iOS compatible device, Apple Pay allows travellers to securely book their next journey on Qatar Airways across the airline’s global network with the touch of a finger. Using passcode or fingerprint technology, Apple Pay links directly to the subscribers’ nominated debit or credit card, ensuring a safe and easy way to purchase Qatar Airways tickets.

Qatar Airways CCO Dr. Hugh Dunleavy said: “I am delighted to be able to offer the convenient and secure option of Apple Pay to our global travellers. We continuously strive to make travel easier and the adoption of an industry-leading ‘pay wallet’ solution is a natural progression for us in providing our passengers with the simplest methods to book their next Qatar Airways journey.

“I am confident our incredibly tech-savvy passengers will appreciate the new payment feature when choosing to fly with us.”

Available on iPhone, iPad, and Mac, Apple Pay is simple to use and allows registered customers to select the Apple Pay payment option on the summary page when booking on qatarairways.com or via the Qatar Airways App. Using either a passcode or touch ID, successful bookings result in a confirmation page and booking reference number.

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‘London is open’ to global shoppers https://dev.traveldailymedia.com/london-is-open-to-global-shoppers/ Wed, 23 Nov 2016 11:38:12 +0000 http://www.traveldailymedia.com/?p=244138 The post ‘London is open’ to global shoppers appeared first on TD (Travel Daily Media) Brand TD.

Families visiting London from overseas this summer have potentially made huge savings during their stay, according to data from visitlondon.com, the city’s official visitor guide. The news emerged as the Mayor of London participated in the opening of the new flagship LEGO store in Leicester Square – the largest in the world – and extended his #LondonIsOpen […]

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Families visiting London from overseas this summer have potentially made huge savings during their stay, according to data from visitlondon.com, the city’s official visitor guide.

The news emerged as the Mayor of London participated in the opening of the new flagship LEGO store in Leicester Square – the largest in the world – and extended his #LondonIsOpen message to international visitors and shoppers, saying there’s never been a better time to enjoy the city’s unrivalled shopping scene.

VisitLondon calculated the cost of a typical family day out in the city, including a night in a hotel, tickets to a leading attraction and an evening out at a West End show, and then worked out the potential savings based on more favourable exchange rates with the dollar, euro and renminbi since the vote to leave the European Union in June.

A family of four from the USA could save at least $140 a day during a stay in the city, a family from Europe could save around €115 a day, while average savings for a Chinese family could amount to ¥825 a day, making a city break in London even better value for money.

As Christmas approaches, the Mayor is set to launch a new video celebrating London’s vibrant retail sector, which encourages visitors to make the most of everything from the smallest boutiques to the largest department stores.

The Mayor of London, Sadiq Khan, said: “London has the best hotels, attractions, shopping and entertainment anywhere in the world so it’s no surprise we have seen record numbers of tourists come to the capital in recent years.

“This latest data clearly shows London is open to visitors from around the world and offers them great value for money. Tourism is crucial for our economy and we welcome anyone who wants to come and enjoy what London has to offer.”

London continues to welcome record international visitor numbers. In the first six months of 2016 a record 8.8 million overseas visitors came to London, and since the 2012 Olympics the number of international visitors coming to London has increased by over 20 per cent.

The latest forecasts by Oxford Economics suggest that London tourism will see stronger long-term growth, with 22.4 million overseas tourists coming to the capital by 2020.

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BA launches Apple Pay service https://dev.traveldailymedia.com/ba-launches-apple-pay-service/ Wed, 26 Oct 2016 13:33:53 +0000 http://www.traveldailymedia.com/?p=242989 The post BA launches Apple Pay service appeared first on TD (Travel Daily Media) Brand TD.

Customers on the move with an iPhone can now pay for their British Airways flights using Apple Pay through the airline’s popular app. Apple Pay automatically stores any payment card details to make it quicker and easier than ever to pay for flights with just a swipe of the finger. As well as providing an […]

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The post BA launches Apple Pay service appeared first on TD (Travel Daily Media) Brand TD.

Customers on the move with an iPhone can now pay for their British Airways flights using Apple Pay through the airline’s popular app.

Apple Pay automatically stores any payment card details to make it quicker and easier than ever to pay for flights with just a swipe of the finger.

As well as providing an additional way to pay for flights, the latest update to the British Airways app also has a new upgrade offers feature – for both Apple and Android phone users – which enables customers to take advantage of promotional upgrade offers, through their smartphone.

Sara Dunham, British Airways’ head of marketing and direct, said: “Adding Apple Pay to the British Airways app means more than ever customers can take control of their booking and travel experience.

“Apple Pay gives customers the simplicity and flexibility to pay how they want with absolute peace of mind and it also puts Apple and Android smartphone users in the best position possible to take advantage of any promotional upgrade offers.

“These new features are proof of our continuing investment to innovate in digital and online to make the British Airways app, and ba.com, the best mobile booking tools for our customers on the go.”

Apple Pay and upgrade offers are part of the latest upgrade for iPhone users, which are now available for download from the Apple App Store and on Google Play for Android phones.

Earlier this year British Airways introduced a new bespoke app specially designed for iPad users with exclusive features, such as a new 3D globe to discover British Airways’ destinations and prices and a way for customers to create their own viewing plan for their flight’s movies, TV shows and music.

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Brits burning cash on hidden holiday costs https://dev.traveldailymedia.com/brits-burning-cash-on-hidden-holiday-costs/ Thu, 22 Sep 2016 09:17:03 +0000 http://www.traveldailymedia.com/?p=241467 The post Brits burning cash on hidden holiday costs appeared first on TD (Travel Daily Media) Brand TD.

New research has revealed that our holidays are costing us more than we think, as over the course of the 2016 holiday season the UK public overspent on summer getaways by £2.4 billion due to unforeseen costs. The survey, conducted by minicabit, has highlighted that Brits are being stung with an average increase of nearly 10% of the […]

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The post Brits burning cash on hidden holiday costs appeared first on TD (Travel Daily Media) Brand TD.

New research has revealed that our holidays are costing us more than we think, as over the course of the 2016 holiday season the UK public overspent on summer getaways by £2.4 billion due to unforeseen costs.

The survey, conducted by minicabit, has highlighted that Brits are being stung with an average increase of nearly 10% of the original cost of a holiday. This is down to extras such as holiday insurance, excess baggage, airport transfers, car hire and duty-free purchases, amounting to £128.14 per holiday.

To provide some context to that level of spending, £2.4 billion is not only virtually 10% of the total cost of a holiday added on again, it is also 9.13% of the entire spend by UK residents travelling abroad for holidays in 2015 – £26.3 billion.

Forking out for these extras often appears to be due to a lack of planning, as one-third of respondents simply didn’t know how much they spent on extras.

One of the major factors if of course, holiday insurance – an average £40.25 overspend is seen on this alone. This can be attributed to part of a wider problem which was highlighted by an ABTA survey that 24% of UK travellers holidaying overseas in 2012 were uninsured, 48% of which were 15-24 years old.

In terms of UK location, Londoners, perhaps unsurprisingly, splash out the most with a mean overspend of £177.62, with high roaming costs for those unable to switch off from work being a major factor in this. The Welsh come in second, with the highest mean spend on excess baggage and 12% of those surveyed spending over £100 on airport transfers.

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Gap year-takers getting older: report https://dev.traveldailymedia.com/gap-year-takers-getting-older-report/ Wed, 14 Sep 2016 13:50:44 +0000 http://www.traveldailymedia.com/?p=241185 The post Gap year-takers getting older: report appeared first on TD (Travel Daily Media) Brand TD.

It’s traditionally thought that gap years are for students taking time out before entering the world of work, however research from Sainsbury’s Bank Travel Money reveals that people aged between 26 and 40 are actually the most likely to do so.  The survey asked people how old they were when they took a gap year: 34% were between […]

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The post Gap year-takers getting older: report appeared first on TD (Travel Daily Media) Brand TD.

It’s traditionally thought that gap years are for students taking time out before entering the world of work, however research from Sainsbury’s Bank Travel Money reveals that people aged between 26 and 40 are actually the most likely to do so. 

Older guests are increasingly on the lookout for adventure activities.
Older guests are increasingly on the lookout for adventure activities.

The survey asked people how old they were when they took a gap year: 34% were between 26-40 years old, 28% were between 20 and 25 years old, followed by pre-University 18-19 year-olds (19%).

The research also highlights a new generation of mature gappers, with 12% aged 41-59 and 4% aged 60 or over taking a gap year. 4% of those who went away were younger teenagers aged 18 and under.

The research also suggests that 45% of people in Britain who want to take a gap year are planning to do so between the ages of 26-40, followed by those who say they’ll be 41-59 years old (19%). 18% plan to take time out between the ages of 20-25 and 17% say they’ll be aged 60 or over. Just 1% of 18-19 year olds have plans to take a gap year in the near future.

A desire to see the world (16%) was the most important factor to inspire Britons to take a gap year. Those who wanted a break from school or university accounted for 12% of those who had; the search of a once in a lifetime experience inspired 11% of travellers and 8% were looking for a career break to gain a fresh perspective. 6% of travellers opted for redundancy gap years; 5% of gap year takers were retirees and only 4% of travellers considered their gap year as an experience that would enhance their CV.

The most popular destination for British gappers who travelled abroad is Europe (32%), followed by the USA (20%) and a round the world trip (19%). Other popular destinations include South East Asia (15%), Australia and New Zealand (14%) and South America (9%).

According to the research, gap years are most commonly funded through savings (40%), working throughout the gap year (20%) or through financial support from family (14%).

Regionally, London has the largest number of gap year takers (39%) followed by the North West (21%) and North East (20%), then Scotland (16%) and Wales (16%). The research suggests the Northern Irish are the most ‘gap year shy’ (2%).

Those that have taken a gap year opted to travel with their spouse or partner (25%), followed by solo travelling (22%) and travelling with friends (20%). The findings show that 27% of women prefer travelling solo in comparison to men (18%).

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oldduderockclimbing Older guests are increasingly on the lookout for adventure activities.
CTI partners with prepaid currency provider https://dev.traveldailymedia.com/cti-partners-with-prepaid-currency-provider/ Wed, 14 Sep 2016 10:03:48 +0000 http://www.traveldailymedia.com/?p=241156 The post CTI partners with prepaid currency provider appeared first on TD (Travel Daily Media) Brand TD.

CTI has unveiled a new partnership with Caxton FX – the pre-paid currency card supplier. CTI’s partnership, the first one Caxton FX has undertaken with a business travel provider, gives its clients the chance to effectively reduce the cost of overseas business trip expenses as well as benefiting from a highly efficient reconciliation process. Caxton’s […]

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The post CTI partners with prepaid currency provider appeared first on TD (Travel Daily Media) Brand TD.

CTI has unveiled a new partnership with Caxton FX – the pre-paid currency card supplier.

CTI’s partnership, the first one Caxton FX has undertaken with a business travel provider, gives its clients the chance to effectively reduce the cost of overseas business trip expenses as well as benefiting from a highly efficient reconciliation process.

Caxton’s prepaid MasterCard can be used just like a normal debit card to pay for goods and services at hotels, restaurants and retail outlets. Businesses can open the Caxton prepaid account within a day, and have prepaid current cards available to travelling employees within five working days. There are no credit checks, or any fees or charges required to operate the card programme. Users are also able to withdraw cash at over 35 million outlets across the world, without incurring the additional fees and charges often applied by the banks.

Clive Wratten, CEO of CTI, said: “Our partnership with Caxton FX is the latest example of CTI’s work with a series of leading companies to augment and enhance the service we offer our customers.

“This partnership-based approach enables us to offer a broader range of practical and innovative business travel solutions that span the entire duration of any business journey.”

Over the past year, CTI has unveiled a series of partnerships with leading organisations including Airplus, AirRefund, Concur Travel, Maiden Voyage and Victor.

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Holidaymakers losing out on currency exchange https://dev.traveldailymedia.com/holidaymakers-losing-out-on-currency-exchange/ Thu, 28 Jul 2016 07:34:02 +0000 http://www.traveldailymedia.com/?p=239275 The post Holidaymakers losing out on currency exchange appeared first on TD (Travel Daily Media) Brand TD.

Holidaymakers planning to go to Europe in the summer months – June, July, and August – could be collectively missing out on €265 million by not buying their money in advance, according to new analysis by Sainsbury’s Bank Travel Money. The supermarket bank found that Euros are on average 7.3% cheaper bought from a local […]

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The post Holidaymakers losing out on currency exchange appeared first on TD (Travel Daily Media) Brand TD.

Holidaymakers planning to go to Europe in the summer months – June, July, and August – could be collectively missing out on €265 million by not buying their money in advance, according to new analysis by Sainsbury’s Bank Travel Money.

The supermarket bank found that Euros are on average 7.3% cheaper bought from a local bureau than from an airport kiosk, highlighting the importance of purchasing holiday money in advance and not leaving it until the very last minute.

Sainsbury’s Bank Travel Money estimates that in 2015, €8.4bn was purchased by people in the UK with 43% of these sales taking place in June, July and August.

Simon Taylor, head of Travel Money at Sainsbury’s Bank said: “As peak holiday season is here we’d encourage anyone travelling to Europe this summer to plan ahead so they don’t miss out on the best rates. Our analysis shows on average holidaymakers could save €42(1) per transaction by getting their money in advance – enough for a lunch for two in Spain or perhaps a few drinks in France.”

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Decline in resort costs cushions sterling’s fall: report https://dev.traveldailymedia.com/decline-in-resort-costs-cushions-sterlings-fall-report/ Mon, 18 Jul 2016 12:50:11 +0000 http://www.traveldailymedia.com/?p=238859 The post Decline in resort costs cushions sterling’s fall: report appeared first on TD (Travel Daily Media) Brand TD.

With the end of the school term in sight, the challenge for families planning trips to Europe will be how to get the most for their money and avoid busting their budget after sterling’s fall in value. There is encouraging news for them in the Post Office Travel Money Family Holiday Report. This confirms that […]

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The post Decline in resort costs cushions sterling’s fall: report appeared first on TD (Travel Daily Media) Brand TD.

With the end of the school term in sight, the challenge for families planning trips to Europe will be how to get the most for their money and avoid busting their budget after sterling’s fall in value.

There is encouraging news for them in the Post Office Travel Money Family Holiday Report. This confirms that while resort prices are up on 2015 levels, when sterling was at a seven-year high, meals, drinks and tourist items now cost less in several family favourites than in each year between 2011 and 2014.

Andrew Brown of Post Office Travel Money said: “It’s all about putting today’s exchange rates into context. Sterling may have fallen recently but when you compare its value with every other year since 2011 except 2015, holidaymakers can be reassured that the cash in their pockets will cover their costs – particularly as bars and restaurants in several of the resorts we surveyed have cut their prices to attract tourists.”

While meal and drinks prices have risen by an average of 18 per cent since last summer in 12 of the 14 European resorts surveyed – with the only falls in Sunny Beach, Bulgaria (-1.2 per cent) and the Costa Blanca (-10.3 per cent) – Post Office research for the annual report reveals price falls in half those resorts compared to 2014.  The biggest falls of around 10 per cent have been in Sunny Beach, the Algarve and the Costa Blanca.

Roll the clock back five years, when the euro was almost at parity with the pound, and the cost of a three-course meal with drinks for a family of four was far higher in 2011 in 80 per cent of resorts.  Families can expect to pay over a third less for a meal this summer than in 2011 in the Costa del Sol (£34.83 now compared to £53.92 in 2011) or Crete (£39.19 vs £58.82) and 40 per cent less in Bulgaria (£27.83 vs £46.39) – with big falls of over 20 per cent in other family resort favourites too.

Brown said: “Keeping a tight rein on the holiday purse will be crucial this summer and that is going to be a big challenge for many because our latest research found that only one-in-five families stuck to their budget on their last holiday.  The majority of families said

they overspent by an average of over 25 per cent – or £178 – on the £694 budget they set.

Eating out is the biggest drain on family finances as 87 per cent of parents surveyed by the Post Office admitted spending 28 per cent more on meals on their last holiday at an average of over £146.  Meal costs are lowest by far in Bulgaria.  Families can expect to pay an average of £27.83 in Sunny Beach – 3.8 per cent less than in last year’s record-breaking summer (£28.92).  The Algarve is another good bet for bargain hunters at £33.09 for a family meal.

By contrast, holidaymakers visiting Nice (£74.02), Sorrento (£87.09) and Ibiza (£100.15) will pay over twice as much as in Sunny Beach or the Algarve.

Drinks are another big expense.  On their last holiday abroad families spent 40 per cent more on drinks – an average of £98 – than on previous trips.  When the price of coffee, beer, wine and a soft drink is added to meal costs, Sunny Beach (£34.57) and the Algarve (£41.55) were found to be cheapest.  Prices are also low in the Costas – £46.15 in the Costa del Sol and £48.52 in the Costa Blanca – but are over twice as high in Ibiza (£118.19).

Family Holiday Report beach extras: price comparisons at a glance

  • The Costa del Sol boasts the cheapest price for a bucket and spade. Two of these cost just £3.48 but parents will pay over three times as much in Nice (£11.32) or Malta (£12.18)
  • Ice-creams will cost parents least in Sunny Beach. Over the course of one week, buying two kids an ice-cream every day will add up to £16.24. The same number of ice creams will cost over twice as much (£36.54) in the Costa Blanca
  • By contrast, paying over £32 to take an hour’s pedalo ride twice during the holiday in Sunny Beach is an expensive luxury. Pedalo rides are even more expensive in Crete and Limassol, where two rides in these two resorts will set parents back almost £35.  In Porec that price plummets to £14.58 – less than half as much
  • Banana boat rides are popular with kids but they can be pricey too. Expect to pay around £26 per person in Nice and almost £21 in the Algarve. They cost a fraction of the price in the Balearic Islands and in Cyprus – at under £9 in Limassol, Paphos, Ibiza and Majorca
  • An inflatable lilo may be a cheaper option than boat rides in some resorts and can be enjoyed throughout the holiday. A lilo costs as little as £2.53 in Paphos but is over four times more expensive in Porec (£10.93) and even more costly in Nice (£13.93)
  • This year’s best-buy swimming goggles are available in the Costa del Sol, priced at £1.09, but these cost eight times as much in Sorrento
  • Hiring a sun-lounger for a family of four costs £8.72 in Cyprus or the Costa del Sol but that price mushrooms to £41.80 in both Sorrento and Nice.

Brown said: “The best advice we can offer is to set a realistic budget before travelling and stick to it to avoid incurring charges by having to change money abroad.  If they do that, families will get more holiday cash for their pounds because there are better rates on higher value transactions, especially if they order online for delivery to their home or local Post Office. For those yet to book, it will be well worth doing some holiday homework to check which resorts are cheapest as prices vary dramatically across Europe.”

 

Cost of meals and drinks in 2016 compared with 2014:

  2016 2014 +/- %
Sunny Beach, BULGARIA £34.57 £38.31 -9.8%
Costa Blanca, SPAIN £48.52 £53.85 -9.9%
Algarve. PORTUGAL £41.55 £46.04 -9.8%
Porec, CROATIA £66.80 £67.95 -1.7%
Crete, GREECE £54.79 £55.10 -0.6%
Corfu. GREECE £67.49 £66.86 +0.9%
Costa del Sol, SPAIN £46.15 £43.29 +6.6%
Palma Nova, MAJORCA £75.71 £69.73 +8.6%
Paphos, CYPRUS £61.52 £52.88 +16.3%
Nice, FRANCE £98.18 £80.56 +21.9%
Sorrento, ITALY £104.08 £78.94 +31.8%

 

Cost of a family meal for four with wine and soft drinks: 2016 compared with 2011:

 

  2016 2011 +/- %
Sunny Beach, BULGARIA £27.83 £46.39 -40.0%
Costa del Sol, SPAIN £34.83 £53.92 -35.4%
Crete, GREECE £39.19 £58.82 -33.4%
Costa Blanca, SPAIN £34.83 £47.06 -26.0%
Porec, CROATIA £53.45 £70.41 -24.1%
Corfu. GREECE £52.25 £68.63 -23.9%
Paphos, CYPRUS £45.28 £53.82 -15.9%
Sorrento, ITALY £87.09 £98.04 -11.2%
Algarve. PORTUGAL £33.09 £34.31 -3.6%
Palma Nova, MAJORCA £60.96 £53.92 +13.1%
Nice, FRANCE £74.02 £58.33 +26.9%

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London airports offer best Forex rates in UK https://dev.traveldailymedia.com/london-airports-offer-best-forex-rates-in-uk/ Wed, 13 Jul 2016 13:25:13 +0000 http://www.traveldailymedia.com/?p=238720 The post London airports offer best Forex rates in UK appeared first on TD (Travel Daily Media) Brand TD.

London airports offer the best exchange rates for travellers looking to change their pounds last-minute at the airport, according to new research. Foreign exchange specialist Caxton FX surveyed ten major UK airports to see which had the best and worst exchange rates for euros and dollars. The research found that there is a massive divide […]

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The post London airports offer best Forex rates in UK appeared first on TD (Travel Daily Media) Brand TD.

London airports offer the best exchange rates for travellers looking to change their pounds last-minute at the airport, according to new research.

Foreign exchange specialist Caxton FX surveyed ten major UK airports to see which had the best and worst exchange rates for euros and dollars. The research found that there is a massive divide between airports based in and around the capital and those outside, causing those in the regions to miss out on as much as £100 on an average foreign exchange transaction.

When it comes to buying euros, Heathrow and Gatwick top the table for best value where travellers get €1.07 for every pound. At the bottom of the table, West Country fliers travelling though Bristol get just over one euro (€1.0008) for each pound and Scottish fliers get a similar rate going through Edinburgh (€1.0070).

Euro exchange rate league table*
Best value Airport Bureau Euro rate £1,000 buys
1= Heathrow ICE 1.07 €1,070.00
1= Gatwick ICE 1.07 €1,070.00
3 Glasgow Travelex 1.0447 €1,044.70
4 London City Travelex 1.0359 €1,030.40
5 Manchester Travelex 1.03046 €1,030.46
6 East Midlands Travelex 1.0265 €1,026.50
7 Stanstead MoneyCorp 1.015 €1,015.00
8 Luton ICE 1.007 €1,007.00
9 Edinburgh ICE 1.0070 €1,007.00
10 Bristol MoneyCorp 1.0008 €1,000.80

Although the difference in rates only looks like a matter of pennies, this equates to a 10% margin between the top and the bottom of the table. If you are changing £1,000 worth of currency, which is not unusual for a small family, this could mean the difference of €70 – the cost of a meal out for a family in Spain.

For those travelling to America, there is a similar disparity in rates for dollars. London airport Heathrow topped the table for offering $1.19 for every pound. Once again Bristol offered the worst rates with holidaymakers getting just $1.05 for each pound – a difference of nearly 13%.

This means that a family travelling to America with £1,000 of holiday money would get $1,190 if they exchange it at Heathrow and only $1,054 if they exchange it at Bristol.  This is a difference of $136, which equates to two meals for a family of four in an average American restaurant.

US Dollar exchange rate league table*
Best value Airport Bureau US Dollar rate £1000 buys
1 Heathrow ICE 1.19 $1,190.00
2 Luton ICE 1.1256 $1,125.60
3 Stanstead MoneyCorp 1.1206 $1,120.60
4 Glasgow Travelex 1.1575 $1,157.50
5 Manchester Travelex 1.1442 $1,144.20
6 London City Travelex 1.1372 $1,137.20
7 East Midlands Travelex 1.1311 $1,131.10
8 Edinburgh ICE 1.1127 $1,112.70
9 Gatwick ICE 1.10 $1,100.00
10 Bristol MoneyCorp 1.0546 $1,054.60

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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Sterling rally overhyped: HotelsCombined https://dev.traveldailymedia.com/sterling-rally-overhyped-hotelscombined/ Tue, 12 Jul 2016 09:28:33 +0000 http://www.traveldailymedia.com/?p=238665 The post Sterling rally overhyped: HotelsCombined appeared first on TD (Travel Daily Media) Brand TD.

Following Andrea Leadsom’s resignation from the Conservative leadership race, UK holidaymakers may well have welcomed reports of a 1% rise in the value of the Pound. However, global hotel comparison site, HotelsCombined.co.uk is warning tourists that all is not what it seems as the Pound has actually stayed the same or even fallen against some currencies. […]

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The post Sterling rally overhyped: HotelsCombined appeared first on TD (Travel Daily Media) Brand TD.

Following Andrea Leadsom’s resignation from the Conservative leadership race, UK holidaymakers may well have welcomed reports of a 1% rise in the value of the Pound.

However, global hotel comparison site, HotelsCombined.co.uk is warning tourists that all is not what it seems as the Pound has actually stayed the same or even fallen against some currencies.

For those seeking an affordable break and worried about shifting accommodation prices, HotelsCombined reassures there are still ways to secure low prices. “Selecting destinations which are least likely to see fluctuations and offer a favourable rate against the Pound is the best way to secure an affordable holiday,” said country manager for UK & Ireland, Dimitri Konovalovas.

‘’It’s positive to see the Pound strengthen after some of the post-Brexit uncertainty lifted and Theresa May was confirmed as the next Prime Minister. However, we urge tourists not to be lulled into a false sense of security as this news has made marginal differences to exchange rates, and the Pound has fallen against some currencies. Both the Mexican Peso and South African Rand see the Pound suffer a 0.3% decrease, so it’s important to check in-resort currency rates before booking a break.”

Currency fluctuations at 11 July 2016 rate versus 8 July 2016 via Yahoo currency converter:

 

Currency Currency rates 8 July pre Andrea Leadsom step-down Currency rates after Andrea Leadsom announced leaving the race
Norwegian Krona 10.97 11.03
Mexican Peso 24.29 23.99
South African Rand 19.07 18.75
Euro 1.16 1.17
US Dollar 1.29 1.29

 

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UK travel money service receives $10m cash injection https://dev.traveldailymedia.com/uk-travel-money-service-receives-10m-cash-injection/ Tue, 12 Jul 2016 09:11:06 +0000 http://www.traveldailymedia.com/?p=238662 The post UK travel money service receives $10m cash injection appeared first on TD (Travel Daily Media) Brand TD.

Disruptive London-based travel money service WeSwap has secured a second stage funding round investment of $10 million. The peer to peer travel money exchange is founded on the principles of challenging unfair currency exchange charges that are typically offered to consumers on the high-street and airports. WeSwap cuts out the middle man and puts the […]

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The post UK travel money service receives $10m cash injection appeared first on TD (Travel Daily Media) Brand TD.

Disruptive London-based travel money service WeSwap has secured a second stage funding round investment of $10 million.

The peer to peer travel money exchange is founded on the principles of challenging unfair currency exchange charges that are typically offered to consumers on the high-street and airports. WeSwap cuts out the middle man and puts the power back into the hands of individual travellers who can swap their currency with each other.

The announcement comes just weeks after the UK’s decision to leave the EU has shaken the London fintech scene – but indicates that it’s not all doom and gloom for UK businesses disrupting traditional markets. The significant investment was led by Ascot Capital Partners.  EC1 Capital and IW Capital – existing WeSwap investors – also participated significantly in the round.

WeSwap founder and CEO Jared Jesner said:“This year we have seen thousands of users swap millions of pounds each month. Our strong focus on building a sustainable, profitable business has enabled this funding despite the uncertain climate. The funding enables us to develop exciting new products, expand into new markets and continue to bring new features to our core product – all designed to help our users to stress less and travel happy.”

“WeSwap is continually striving to bring transparency and value to the travel money market through our swapping platform – this will continue no matter the status of EU membership.”

Founded in 2013, WeSwap secured $6 million in series A funding in October 2014, and has gone from strength to strength, broadening its user base through travel industry partnerships.

“With so much talent residing in the capital and so much global opportunity, I don’t think Brexit signals the end of investment in the sector – especially the booming sharing economy that represents people taking back control from traditional bureaucratic structures and systems” continued Jesner.

David Page, CEO of investment firm Ascot says “The UK has always been, and will continue to be, a world-class financial services and technology hub with world-class resources and assets: including talent, innovation, legal framework and a supportive government. There will be a period of EU negotiations over the next two years but we can be sure the UK will remain at the forefront of global innovation and entrepreneurship.”

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Sterling slump hitting holidaymakers’ pockets https://dev.traveldailymedia.com/sterling-slump-hitting-holidaymakers-pockets/ Fri, 08 Jul 2016 10:09:10 +0000 http://www.traveldailymedia.com/?p=238537 The post Sterling slump hitting holidaymakers’ pockets appeared first on TD (Travel Daily Media) Brand TD.

A 10% slump in Sterling exchange rates means holidays are now £200 more expensive than they were two weeks ago, according to TravelSupermaket.  SalaryFinance, an employee benefits provider, has highlighted how the UK is bingeing on credit just to be able to afford to go on their family getaway. With Brits more likely than ever to […]

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The post Sterling slump hitting holidaymakers’ pockets appeared first on TD (Travel Daily Media) Brand TD.

A 10% slump in Sterling exchange rates means holidays are now £200 more expensive than they were two weeks ago, according to TravelSupermaket. 

SalaryFinance, an employee benefits provider, has highlighted how the UK is bingeing on credit just to be able to afford to go on their family getaway. With Brits more likely than ever to be jetting off abroad with over 15 million holidays (a 14% rise from 2011) booked in 2015, the company claims they are piling up an average debt of £421 due to overspending. But given the plummet in Sterling’s value, this average debt could now rise to £621 per person.

According to the company’s findings, just under a quarter of UK adults (24%) have been on a holiday that they thought they couldn’t afford, with one in four (25%) getting into debt to pay for it, while 39% come home with a holiday debt, which takes an average of 4.8 months to pay off. It is estimated in a lifetime, a Brit will splash out £207,824 on holidays (just over the equivalent price of the average house price of £204,000).

Worryingly, this dramatic decline in Sterling’s value follows on from family debt rising in May by its fastest increase in 11 years, with £400 million new credit card debt being accumulated, likely pointing to another credit binge by Brits on holiday spending ahead of the start of the summer, following on from news that households faced the greatest pressure on their finances in nearly two years during the same month.

Asesh Sarkar, co-founder and CEO of SalaryFinance, explained: “Pressure to take their families abroad during the summer months is causing many parents to pay for their trips on credit, often in the form of high-interest bearing loans or credit cards.

“Given the overall downward trend in financial well-being across the country, this overreliance on credit during the summer months is only compounding the UK’s growing debt problem.

“The unintended consequence of funding summer vacations on credit are stark – many people will return to work more preoccupied, stressed and anxious than before as they worry about how they will manage their repayments.”

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A third of Brits planning staycations this summer: report https://dev.traveldailymedia.com/a-third-of-brits-planning-staycations-this-summer-report/ Wed, 25 May 2016 11:13:56 +0000 http://www.traveldailymedia.com/?p=236848 The post A third of Brits planning staycations this summer: report appeared first on TD (Travel Daily Media) Brand TD.

A third of British holidaymakers are planning staycations in the UK this summer, according to the latest data from Asda Money.  Additionally, the company has revealed that holidaymakers, whether staying in the UK or heading abroad will be spending a collective total of £43bn this summer. The exception to the rule is those who live […]

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The post A third of Brits planning staycations this summer: report appeared first on TD (Travel Daily Media) Brand TD.

A third of British holidaymakers are planning staycations in the UK this summer, according to the latest data from Asda Money. 

Cornwall remains the number one destination for UK holidaymakers.
Cornwall remains the number one destination for UK holidaymakers.

Additionally, the company has revealed that holidaymakers, whether staying in the UK or heading abroad will be spending a collective total of £43bn this summer.

The exception to the rule is those who live in Northern Ireland, whose first choice holiday destination is Spain.

Those most likely to choose a staycation are residents in the East Midlands with almost half (45%) holidaying in the UK.

Of those heading abroad this summer, it is no surprise that Spain remains a British favourite with 3 million Brits heading to the mainland. This is closely followed by the USA (1.9 million), France (1.8 million) and 1.5 million heading to the Greek Islands.

 

Region 1st Place 2nd Place 3rd Place
All UK holidaymakers UK – 31% Spain (mainland) – 9% USA – 6%
North East UK – 32% Canary Islands – 9% USA – 9%
North West UK – 29% Spain (mainland) – 9% USA – 9%
Yorkshire & Humber UK – 33% Spain (mainland) – 14% Canary Islands – 7%
East Midlands UK – 45% Greece – 8% Spain (mainland) – 6%
West Midlands UK – 42% Spain (mainland) – 9% Canary Islands – 4%
East of England UK – 38% Spain (mainland) – 11% France – 8%
London UK – 15% France – 9% USA – 9%
South East UK – 26% France – 8% Spain (mainland) – 6%
South West UK – 36% Spain (mainland) – 9% France – 8%
Wales UK – 35% Greece – 8% Spain (mainland) – 6%
Scotland UK – 31% Spain (mainland) – 7% Italy – 6%
Northern Ireland Spain (mainland) – 28% UK – 23% Ireland – 8%

 

This year UK families are set to splash £43bn on summer breaks both in the UK and abroad, of which £17bn is spending money alone.  Broken down, this equates to an average of £782 on accommodation and transport with an additional £529 worth of spending money to be splashed on the family.

The 10 million Brits (31%) who are holidaying at home will be doing their bit for Britain, pumping £8 billion back into the UK economy this holiday season.

 

  Cost of holiday (i.e. accommodation, transport) Spending while on holiday TOTAL
North East £1.2bn £0.8bn £1.9bn
North West £3.2bn £2.1bn £5.3bn
Yorkshire & Humber £1.9bn £1.4bn £3.3bn
East Midlands £1.6bn £1bn £2.6bn
West Midlands £2.2bn £1.6bn £3.9bn
East of England £1.9bn £1.1bn £3bn
London £4bn £3.4bn £7.4bn
South East £3.8bn £2bn £5.8bn
South West £2.2bn £1.3bn £3.5bn
Wales £1.3bn £0.8bn £2.1bn
Scotland £1.9bn £1.2bn £3.1bn
Northern Ireland £0.8bn £0.7bn £1.5bn
Total £26bn £17bn £43bn

Source: Opinium Research May 2016

Londoners will be spending the largest chunk of the £43bn with the residents splashing £4bn on transport to their destination, as well as accommodation, plus an additional £3.4bn on spending money.  As a result, they are spending almost £6bn more than the Northern Irish (£1.5bn) on getaways to France, Spain, USA and the Canary Islands.

However, the research has shown that holiday spending isn’t necessarily dictated by income with some those in lower pay bracket not shying away from splashing the cash to ahead abroad.  Those earning up to £10,000 per year will be cashing up almost £1,000 on a holiday, 10% of their annual income.

  Up to £10,000 a year £10,001 to £20,000 a year £20,001 to £30,000 a year £30,001 to £40,000 a year £40,001 to £50,000 a year More than £50,000 a year Average
Cost of holiday (i.e. accommodation, transport) £580 £660 £787 £906 £870 £1,080 £782
Spending while on holiday £364 £422 £513 £589 £663 £890 £529
TOTAL £945 £1,081 £1,300 £1,495 £1,533 £1,969 £1,310

Source: Opinium Research May 2016

 

Neil Foster head of Asda Travel Money said: “In the last year we have seen some distinct changes in people’s holidaying habits and it comes as no surprise that Brits are staying put in the UK this summer. While France and Spain continue to remain popular destinations for a summer break, we have seen a significant decrease in the number of people heading to Turkey, evidenced in our research and through our currency sales, which is no doubt due to recent global issues.

“For those families who are heading abroad they do still need to ensure they are getting the best value for money. Asda Money is dedicated to providing the best value for travel money and have extended our regular rate sales to include all currencies both in store and online.”

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Cornwall web Cornwall remains the number one destination for UK holidaymakers.
WEX expands European services https://dev.traveldailymedia.com/wex-expands-european-services/ Wed, 06 Apr 2016 11:25:53 +0000 http://www.traveldailymedia.com/?p=234829 The post WEX expands European services appeared first on TD (Travel Daily Media) Brand TD.

Corporate payment solutions provider WEX Inc. has revealed its European office is now able to contract with customers in all countries in the European Economic Area, enabling the company to provide virtual prepaid and debit payments, including eWallets. This initiative, along with the recently announced currency expansion, is a part of the company’s plans to significantly […]

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The post WEX expands European services appeared first on TD (Travel Daily Media) Brand TD.

Corporate payment solutions provider WEX Inc. has revealed its European office is now able to contract with customers in all countries in the European Economic Area, enabling the company to provide virtual prepaid and debit payments, including eWallets.

This initiative, along with the recently announced currency expansion, is a part of the company’s plans to significantly expand into the European travel payments market.

According to the latest figures from PhocusWright, the European travel payments market is worth an estimated €264 billion.

Ian Johnson, commercial director Europe, Virtual Payments, at WEX said: “This is a significant milestone in our European expansion as we’re now open for business in 31 EEA countries. We have also invested in growing our team to ensure that we are able to deliver value to as many travel businesses as possible.”

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WEX expands virtual payment system to include 24 currencies https://dev.traveldailymedia.com/wex-adds-24-currencies-to-its-virtual-payment-system/ Sat, 05 Mar 2016 11:43:34 +0000 http://www.traveldailymedia.com/?p=233491 The post WEX expands virtual payment system to include 24 currencies appeared first on TD (Travel Daily Media) Brand TD.

WEX Inc has confirmed its European travel customers now have the ability to issue and settle payments in 24 currencies, up from 11 currencies, through WEX Virtual Payments.  As a result of this expansion, WEX Europe has added the following currencies to its virtual card portfolio: Canadian Dollar, Hong Kong Dollar, Czech Koruna, Hungarian Forint, […]

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The post WEX expands virtual payment system to include 24 currencies appeared first on TD (Travel Daily Media) Brand TD.

WEX Inc has confirmed its European travel customers now have the ability to issue and settle payments in 24 currencies, up from 11 currencies, through WEX Virtual Payments. 

WEX has expanded its payments system to include 24 new currencies.
WEX has expanded its payments system to include 24 new currencies.

As a result of this expansion, WEX Europe has added the following currencies to its virtual card portfolio: Canadian Dollar, Hong Kong Dollar, Czech Koruna, Hungarian Forint, Turkish Lira, Japanese Yen, Mexican Peso, Russian Ruble, Singapore Dollar, Thai Baht, Brazilian Real, Malaysian Ringgit and Emirati Dirham.

The combination of currencies is made available by using both the Visa and MasterCard networks and their combined currency offering. WEX customers benefit from substantial savings on foreign exchange and transaction fees and an increased access to the currencies in growth markets.

Ian Johnson, commercial director Europe, Virtual Payments at WEX said:

“With our extended currency offering, we’re able to help our customers pay their global suppliers in local currencies in a more efficient and cost-effective way.  They can now pay suppliers in destinations like Mexico, Thailand and Singapore without the risks of currency fluctuation and fully avoid foreign exchange and conversion fees whilst improving reconciliation in local currencies without variances.”

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currency web
Hotel investment firm appoints chief investment officer https://dev.traveldailymedia.com/hotel-investment-firm-appoints-chief-investment-officer/ Wed, 24 Feb 2016 12:30:02 +0000 http://www.traveldailymedia.com/?p=233103 The post Hotel investment firm appoints chief investment officer appeared first on TD (Travel Daily Media) Brand TD.

International Hotel Group Limited (IHL) has appointed Jon Colley chief investment officer.  Colley has a strong financial background spanning 20 years. He brings particular expertise in hospitality, having most recently been development director with Hilton Worldwide since 2010, where he was responsible for deal sourcing, contract negotiations and development of the stable of Hilton brands […]

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The post Hotel investment firm appoints chief investment officer appeared first on TD (Travel Daily Media) Brand TD.

International Hotel Group Limited (IHL) has appointed Jon Colley chief investment officer. 

Jon Colley.
Jon Colley.

Colley has a strong financial background spanning 20 years. He brings particular expertise in hospitality, having most recently been development director with Hilton Worldwide since 2010, where he was responsible for deal sourcing, contract negotiations and development of the stable of Hilton brands within the UK.

Prior to that, Colley was business development director, specialising in hotels, with the Royal Bank of Scotland, establishing the London-based Commercial Hotels Team and advising on nationwide hotel transactions. He has also previously worked with GE Capital and Barclays Bank.

IHL was founded in 2015 as a hotel and leisure focused property investment vehicle and has already raised and invested £35 million of equity capital. The company was established with the objective of affording property investors the opportunity to invest directly into a portfolio of income-yielding hotel assets, initially in the UK and expanding into selected European markets.

Colley will be responsible for shaping and driving forward the company’s investment and acquisition strategy.

“Our medium term target is to grow net asset value to £200 million within three years – the company is only three months into this drive so it’s an exciting time to join the team,” said Colley. “I’m looking forward to applying my knowledge in working with investors, brands, developers and agents to achieve this objective.”

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Jon-Colley Jon Colley.
Cheaper travel costs dampen impact of Sterling slump https://dev.traveldailymedia.com/cheaper-travel-costs-dampen-impact-on-sterling-slump/ Tue, 23 Feb 2016 11:16:02 +0000 http://www.traveldailymedia.com/?p=233059 The post Cheaper travel costs dampen impact of Sterling slump appeared first on TD (Travel Daily Media) Brand TD.

The pound may have plunged to a 13-month low against the euro and other European currencies but there is plenty of good news for people planning trips abroad in one of the busiest holiday booking months. Research by Post Office Travel Money for its Holiday Money Report reveals that lower prices in most European resorts […]

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The post Cheaper travel costs dampen impact of Sterling slump appeared first on TD (Travel Daily Media) Brand TD.

The pound may have plunged to a 13-month low against the euro and other European currencies but there is plenty of good news for people planning trips abroad in one of the busiest holiday booking months.

Research by Post Office Travel Money for its Holiday Money Report reveals that lower prices in most European resorts will cancel out the impact of the sterling slide.  At the same time currencies for many popular long-haul destinations including Mexico, Malaysia and Thailand have weakened against the pound.

The biggest gain for sterling has been against the South African rand so UK tourists on safaris, fly-drive trips along the Garden Route or exploring Cape Town will see travel cash stretch 26 per cent further than last year.  In just five years sterling has doubled in value against the rand.

Sterling is also surging against the Mexico peso, which means that Cancun will be a bargain bet in 2016.  Sterling has risen in value by six per cent since the start of the year and in a year has gained 18 per cent against the peso.  This means UK visitors changing £500 will get £76 more in peso than a year ago.  Mexico may therefore be a better bet for a budget break than the Caribbean, where the pound buys seven per cent less currency than a year ago.

Holidaymakers heading east will be better off in Asia and the Indian Ocean as well.  A sterling surge of over nine per cent against the Malaysian ringgit compared with a year ago has compounded the impact of falling prices in Penang to make tourist staples 27 per cent cheaper in Malaysia’s most popular destination4.  Sterling has also strengthened by 1.5 per cent against the Thai baht year-on-year.

While the US dollar is at a five-year high against the pound, making top UK choices Orlando and New York around 10 per cent more expensive, three other dollars are significantly weaker. The Australian, New Zealand and Canadian dollars have each fallen in value since last February and are now over 10 per cent weaker than two years ago.

One of the few European currencies to have lost ground against sterling is the Norwegian krone.  A six per cent year-on-year drop, rising to 22 per cent over two years, makes a Northern Lights trip to Norway a better prospect than visiting Iceland for the Aurora Borealis.  Sterling has fallen 10.5 per cent in value since last February against the Icelandic krona.

Andrew Brown of Post Office Travel Money said: “This is definitely a year when it will pay people to do their homework before booking a destination.  With sterling’s recent fall in value against more than half of our bestselling currencies, you can’t blame them for thinking twice about where to go on holiday.  However, canny travellers will be ‘quids in’ if they opt for destinations with weak currencies or those where local prices are low.  Better still, if they combine both elements their holiday money will stretch further.”

Most notably, despite a fall of over 10 per cent since last summer when sterling hit €1.41 to £1, the picture is far from gloomy for people planning visits to the eurozone.  Post Office Travel Money research shows that fierce competition to attract tourists has led to hefty price-cutting in many popular holiday destinations – resulting in lower rather than higher prices this year.

In Portugal’s Algarve and on the Greek island of Corfu, meals and drinks will cost UK visitors 13 per cent less than a year ago because local price falls far outweigh sterling’s slide.  Prices are also cheaper in Sorrento, Italy (down five per cent) and on par with 2015 in the Costa del Sol.

Outside the eurozone, while the Croatian kuna (sterling -6.9 per cent) and Bulgarian lev (-5.7 per cent) are among the 10 currencies against which sterling has fallen most, local price falls mean the Post Office barometer of tourist staples is down 11 per cent in Sunny Beach, Bulgaria, one of Europe’s biggest bargain resorts, and is four per cent cheaper in Zadar, Croatia.

However, city break holidaymakers visiting Prague will have to dig deeper in their pockets.  Not only has the Czech koruna risen in value 7.8 per cent since last February but higher meal prices mean that Prague is likely to be around 20 per cent more expensive than last spring.

Sterling’s biggest fall of 11.6 per cent has also been the most surprising.  After two years when holidaymakers could look forward to seeing their pounds stretch much further in Japan, a surge in its value means they will get around £66 less Japanese yen on a £500 transaction.

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Budget Brits prefer cash to credit when travelling OS: report https://dev.traveldailymedia.com/budget-brits-prefer-cash-to-credit-when-travelling-os-report/ Mon, 15 Feb 2016 14:07:29 +0000 http://www.traveldailymedia.com/?p=232730 The post Budget Brits prefer cash to credit when travelling OS: report appeared first on TD (Travel Daily Media) Brand TD.

Despite the rise of credit and debit card payments in the UK, when travelling abroad, 69% of Brits still choose cash as their preferred method of payment.  The research, conducted by International Currency Exchange (ICE), showed that both income and age played a significant role within this data too. While 74% of people earning less […]

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The post Budget Brits prefer cash to credit when travelling OS: report appeared first on TD (Travel Daily Media) Brand TD.

Despite the rise of credit and debit card payments in the UK, when travelling abroad, 69% of Brits still choose cash as their preferred method of payment. 

The research, conducted by International Currency Exchange (ICE), showed that both income and age played a significant role within this data too.

While 74% of people earning less than £10,000 would prefer to pay using cash while in a foreign country, that figure dropped to 58% for people earning more than £40,000. Not only this, 84% of those aged between 18 and 24 stated they prefer to use cash over card, compared to 65% of 55 to 64-year-olds.

Koko Sarkari, CEO of ICE, says: “It’s so interesting to look into the nation’s spending habits and look into what the norm is for us Brits when we go away. Using cash seems easier when it comes down to going abroad, this could be for many reasons. It’s easy to manage and stay on top of our spending and it also makes our holidays that extra bit special by being able to change our cash currencies.”

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Post Office Money offers EGP refunds for Sharm travellers https://dev.traveldailymedia.com/post-office-money-offers-egp-refunds-for-sharm-travellers/ Sun, 08 Nov 2015 11:08:13 +0000 http://www.traveldailymedia.com/?p=228997 The post Post Office Money offers EGP refunds for Sharm travellers appeared first on TD (Travel Daily Media) Brand TD.

Post Office Travel Money has confirmed it will offer customers considering cancelling holidays to Sharm el Sheikh a full refund on Egyptian pounds purchased from the exchange house.  Refunds will be provided at the original price paid. Andrew Brown of Post Office Travel Money said: “We do not want to add to the financial pain suffered by […]

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The post Post Office Money offers EGP refunds for Sharm travellers appeared first on TD (Travel Daily Media) Brand TD.

Post Office Travel Money has confirmed it will offer customers considering cancelling holidays to Sharm el Sheikh a full refund on Egyptian pounds purchased from the exchange house. 

Sharm El Sheikh airport
Sharm El Sheikh airport

Refunds will be provided at the original price paid.

Andrew Brown of Post Office Travel Money said: “We do not want to add to the financial pain suffered by disappointed holidaymakers whose plans are wrecked by circumstances beyond their control so we are continuing to offer a full refund on money spent purchasing Egyptian pounds in Post Office bureaux or online.”

To qualify for a refund, Post Office customers will need to take their currency back to a branch, change it back into sterling and then send in the receipt together with their original purchase receipt as well as evidence of their holiday cancellation in the form of an invoice, tickets or email confirmation from their tour operator as proof of booking.

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Sharm airport Sharm El Sheikh airport
Sterling’s decline against Euro makes long-haul holidays better value: survey https://dev.traveldailymedia.com/sterlings-decline-against-euro-makes-long-haul-holidays-better-value-survey/ Sun, 25 Oct 2015 16:10:18 +0000 http://www.traveldailymedia.com/?p=228363 The post Sterling’s decline against Euro makes long-haul holidays better value: survey appeared first on TD (Travel Daily Media) Brand TD.

The value of sterling has dipped against most European currencies, making travel further afield more of a bargain, according to the latest Post Office Money survey.  Andrew Brown of Post Office Travel Money said: “Although holidaymakers visiting the eurozone will still get over £42 more to spend if they change £500, the same outlay will […]

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The post Sterling’s decline against Euro makes long-haul holidays better value: survey appeared first on TD (Travel Daily Media) Brand TD.

The value of sterling has dipped against most European currencies, making travel further afield more of a bargain, according to the latest Post Office Money survey. 

The value of sterling has fallen against the euro.
The value of sterling has fallen against the euro.

Andrew Brown of Post Office Travel Money said: “Although holidaymakers visiting the eurozone will still get over £42 more to spend if they change £500, the same outlay will give them far more bang for their buck in many of the most popular resorts further afield – in some cases more than £100 extra. If you haven’t already booked and are looking for a holiday bargain, it makes sense to do some homework to see where the pound will pack the most powerful punch because resort costs can have a big impact on the family purse.”

Sterling’s biggest gain has been against the Brazilian real, which has lost over 25 per cent of its value in the past three months and more than 58 per cent year-on-year.  That means UK tourists taking a trip to Rio will pocket £185 more on a £500 currency purchase than a year ago.

Savvy travellers will also be ‘quids in’ on a holiday in Malaysia where sterling has surged 25 per cent year-on-year.  Since July alone, the Malaysian ringgit has weakened by 10 per cent and UK tourists will currently pocket around £100 more than a year ago when changing £500 into holiday cash. Once they reach Malaysia’s most popular resort, Penang, lower prices in restaurants and shops mean cash will stretch even further.  The latest Post Office Travel Money Long Haul Barometer reveals a 35 per cent saving on meals, drinks and other tourist items.

It is the same story in Kenya where sterling has surged 11 per cent against the Kenyan shilling over the past 12 months, giving UK tourists almost £50 more for their £500 currency transaction.  Add to that a nine per cent drop in local prices and tourists can expect to pay 20 per cent less once they get to the beach in Mombasa.

Cancun in Mexico has long been a hotspot for bargain-hunting families and an 18.5 per cent fall in the value of the Mexican peso means half term holidaymakers get £78 more when they change £500, compared with this time last year.  Other destinations flagged up by Post Office Travel Money as good value include South Africa where the rand has fallen 14.6 per cent year-on-year; Mauritius, where the rupee has weakened by 8.9 per cent; Bali, where the Indonesian rupiah is down 7.6 per cent and Thailand, where the baht is worth at least five per cent less.

People planning trips during the Christmas holidays to Australia will also reap the benefit of a much stronger pound.  Sterling’s 17 per cent rise in value means almost £73 extra to spend when changing £500 into Australian dollars.  Post Office Travel Money says that Australian dollar sales have risen 21 per cent in the year to date, suggesting that awareness of the powerful pound has encouraged people to travel ‘down under’.

But it is not all plain sailing for the pound.  Holidaymakers travelling to resorts in the USA and Caribbean will get fewer US and Caribbean dollars because the pound has fallen in value by just under two per cent against the US currency and around three per cent against Caribbean ones since this time last year.  The best Caribbean bet is the Dominican Republic where sterling is up two per cent year-on-year and resort prices in Punta Cana have dropped.  This means visitors will pay around 7.5 per cent less on tourist staples researched by Post Office Travel Money.

In Dubai, whose currency, the UAE dirham, ‘floats’ alongside the US dollar, sterling has fallen in value by 2.9 per cent.  Prices in Dubai are also 75 per cent higher than in Sharm El Sheikh, according to the Post Office Travel Money Long Haul Holiday Barometer. A 14 per cent meal price fall in Sharm el Sheikh, Egypt adds to the benefit of a smaller 6.9 per cent rise in sterling’s value against the Egyptian pound.  As a result, holidaymakers can expect to pay around £100 for meals, drinks and other tourist staples, compared with almost £175 in Jumeriah, Dubai.

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money loan web The value of sterling has fallen against the euro.
Pay4Later launches credit services for agents https://dev.traveldailymedia.com/pay4later-launches-credit-services-for-agents/ Wed, 08 Jul 2015 11:00:06 +0000 http://www.traveldailymedia.com/?p=224178 The post Pay4Later launches credit services for agents appeared first on TD (Travel Daily Media) Brand TD.

Pay4Later, the UK-based provider of point of sale credit, is launching a new service for holiday and travel companies following strong demand from firms wanting to offer credit to customers. The company claims its new service enables firms to offer clients a choice of finance options – including 0% interest – ranging from £275 to […]

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The post Pay4Later launches credit services for agents appeared first on TD (Travel Daily Media) Brand TD.

Pay4Later, the UK-based provider of point of sale credit, is launching a new service for holiday and travel companies following strong demand from firms wanting to offer credit to customers.

The new credit service is designed for travel agents and operators.
The new credit service is designed for travel agents and operators.

The company claims its new service enables firms to offer clients a choice of finance options – including 0% interest – ranging from £275 to £25,000 and over terms of six, nine and 12 months.

Customers can start paying for their holiday as soon as they book it through the Pay4Later service and spread the cost to suit their finances once they return. The company claims applications take less than 10 seconds to complete and all those made via Pay4Later’s platform involve ‘soft’ credit searches, meaning a customer’s credit rating will not be affected.

Borrowers expect to clear the debt on average after four months, the research shows. However 11% of adults paying for holidays on credit say it will take them a year or more to clear the debt.

John Wark, marketing manager at Pay4Later said: “As a nation, we are taking more holidays and trips abroad than ever before.  Analysis of government data reveals that we took 60 million trips abroad in 2014, 4% more than in 2013.

“By offering customers credit, travel companies could see a huge increase in sales.  Our data shows that retailers who offer credit can see sales rise by up to 40% and order values by 300%.”

Pay4Later will provide travel finance for holiday and travel bookings in-store and online. Holidaymakers will get an instant decision and can sign their credit agreement on screen. The service will be provided through travel companies, allowing them to enhance their service to customers by offering them the ability to pay for holidays and trips and spread the cost.

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generic_credit The new credit service is designed for travel agents and operators.
Travelling Brits losing money on foreign currency spreads https://dev.traveldailymedia.com/travelling-brits-losing-money-on-foreign-currency-spreads/ Wed, 08 Jul 2015 10:45:40 +0000 http://www.traveldailymedia.com/?p=224175 The post Travelling Brits losing money on foreign currency spreads appeared first on TD (Travel Daily Media) Brand TD.

UK residents lose more than £1.24 billion every year to currency spreads when travelling abroad, according to new research by Centtrip.  Centtrip’s analysis reveals that travellers are hit by an average 3.5% spread on foreign currencies including the Euro, the US and Australian Dollar.  On the average spend for a trip – £591.17 – this translates […]

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The post Travelling Brits losing money on foreign currency spreads appeared first on TD (Travel Daily Media) Brand TD.

UK residents lose more than £1.24 billion every year to currency spreads when travelling abroad, according to new research by Centtrip. 

Brits are losing money on currency spreads.
Brits are losing money on currency spreads.

Centtrip’s analysis reveals that travellers are hit by an average 3.5% spread on foreign currencies including the Euro, the US and Australian Dollar.  On the average spend for a trip – £591.17 – this translates as a hit of £20.70 when converting Sterling into the local currency.

Centtrip’s analysis of the destinations that benefit most from UK travel reveals that UK residents spend more than £16.3 billion each year travelling to their top five destinations, with more than £6 billion being spent in Spain alone. This equates to more than £190 million in lost Sterling due to differences between the market exchange rate and the sell rate of a typical travel money company. This is followed by the USA, where UK residents lose more than £109.1 million to currency spreads each year, and France, with £109 million.

Brian Jamieson, co-founder and managing director of Centtrip, said: “The recent fall in the Euro has hugely aided UK travellers when going abroad, especially when considering that 12 of the 20 most-visited countries for Britons are within the Eurozone.  However, our research reveals the huge losses made by travellers to currency spreads, which can amount to a significant sum over the course of the year.

“People travelling further afield – where the average spend on a trip is typically higher – or those who make frequent trips abroad are hit even harder by currency spreads.  It is therefore imperative that any regular travellers, whether they do so for business or pleasure, ensure that they protect themselves from currency spreads by paying close attention to currency fluctuations and choose a currency provider that ensures that they get the best rates available.”

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generic_currency Brits are losing money on currency spreads.
More young travellers than ever before https://dev.traveldailymedia.com/more-young-travellers-than-ever-before/ Tue, 26 May 2015 12:58:36 +0000 http://www.traveldailymedia.com/?p=222210 The post More young travellers than ever before appeared first on TD (Travel Daily Media) Brand TD.

Today’s under-18s are significantly better travelled than their parents’ generation, according to research published by Sainsbury’s Travel Insurance, with 69% of parents in Britain saying that their children have travelled overseas more often than they had at the same age.  The study highlights a continual reduction in the average age at which people take their first […]

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Today’s under-18s are significantly better travelled than their parents’ generation, according to research published by Sainsbury’s Travel Insurance, with 69% of parents in Britain saying that their children have travelled overseas more often than they had at the same age. 

Teenagers are travelling more than their parents did.
Teenagers are travelling more than their parents did.

The study highlights a continual reduction in the average age at which people take their first trip abroad, from aged 12 for those now over 65 to less than four years of age for under-18s.

According to parents, more than a quarter of those who are under-18 have visited another country before their second birthday and 63% have done so by the time they were 10.

Amongst globetrotting children, 81% have travelled abroad with their parents and 35% with their school. More than a quarter (27%) have taken a long-haul flight and 11% have been overseas with their friends or friend’s parents. An independent 9% have even travelled alone as an unaccompanied minor.

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teen-tourists Teenagers are travelling more than their parents did.
Traveltech Lab partner secures $4.2m in funding https://dev.traveldailymedia.com/traveltech-lab-partner-secures-4-2m-in-funding/ Wed, 20 May 2015 11:15:52 +0000 http://www.traveldailymedia.com/?p=222006 The post Traveltech Lab partner secures $4.2m in funding appeared first on TD (Travel Daily Media) Brand TD.

bd4travel, the predictive analytics platform for the travel industry, has secured $4.2 million in Series A funding, the company has revealed.  It’s the first Series A funding round by any company within the Traveltech Lab, a new London-based incubator for travel tech companies that began operations in March. The Traveltech Lab was created by London […]

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bd4travel, the predictive analytics platform for the travel industry, has secured $4.2 million in Series A funding, the company has revealed. 

The founders of b4travel.
The founders of b4travel.

It’s the first Series A funding round by any company within the Traveltech Lab, a new London-based incubator for travel tech companies that began operations in March.

The Traveltech Lab was created by London & Partners, the Mayor’s promotional company for London, in partnership with The Trampery. The incubator aims to help London become the number one city in the world in technology for the travel tech industry and to support the development of companies that could become the next lastminute.com, Citymapper or Expedia.

The funding round for bd4travel was led by Hoxton Ventures with participation from Talis Capital and Robin Klein of The Accelerator Group. bd4travel also announced that Simon Breakwell, the founder of Expedia, will join the company as chairman.

bd4travel is a real-time personalisation platform for the online travel industry. It profiles individual visitors to websites by analysing their behaviour, helping the travel industry to improve customer experience.

Andy Owen-Jones, CEO of bd4travel, said: “When our customers see that we can generate rich user profiles and predict the travel wishes for anonymous site visitors, when all they’ve seen before is their traffic numbers, they tend to be pretty blown away. The future of the travel market is hyper-personalisation, where users are appreciated and serviced as individuals and travel offers are recommended according to their actual desire”.

Andrew Cooke, COO at London & Partners, said: “This funding round is great news both for bd4travel and for the Traveltech Lab. It shows that companies are able to develop their smart ideas in our incubator, and that investors are keen to back those businesses so that they can grow to the next level and become significant players in the growing travel tech industry.”

Hussein Kanji, partner at Hoxton Ventures, which backed the funding round, said: “We back teams which have the opportunity to become global successes based on game changing technology. bd4travel is well positioned to be disruptive in one of the world’s largest industry segments.”

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bd4travel The founders of b4travel.
Majority of Brits fret over cost of holidays: report https://dev.traveldailymedia.com/majority-of-brits-fret-over-cost-of-holidays-report/ Tue, 19 May 2015 11:13:20 +0000 http://www.traveldailymedia.com/?p=221958 The post Majority of Brits fret over cost of holidays: report appeared first on TD (Travel Daily Media) Brand TD.

With the Spring half-term school holidays just around the corner, the continuing strong performance of the pound against the euro and dollar is good news for many families.   Especially as new research from prepaid card specialist Ukash reveals that for more than half of Brits, booking a holiday comes with anxieties about the cost. When […]

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The post Majority of Brits fret over cost of holidays: report appeared first on TD (Travel Daily Media) Brand TD.

With the Spring half-term school holidays just around the corner, the continuing strong performance of the pound against the euro and dollar is good news for many families.  

59% of Brits are concerned about the cost of holidays.
59% of Brits are concerned about the cost of holidays.

Especially as new research from prepaid card specialist Ukash reveals that for more than half of Brits, booking a holiday comes with anxieties about the cost.

When it comes to holiday worries, 59% of respondents to the Ukash research said they get anxious about the cost of the trip.

Since last week’s General Election, the pound has gained 2.4% against the US dollar and 3.5% against the euro.

British holidaymakers are considerably better off than they were this time last year, when spending abroad. Travellers get an extra €77 for every £500, compared to 2014.

Once the holiday is booked, 29% said the thought of a long journey makes them anxious. Almost a third (32%) worry about letting their partners down if they’ve made a bad choice of destination or hotel. For 36%, the thought of going somewhere unfamiliar is a concern.

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travel-costs 59% of Brits are concerned about the cost of holidays.
WEX Inc boosts payment options for European travellers https://dev.traveldailymedia.com/wex-inc-boosts-payment-options-for-european-travellers/ Wed, 22 Apr 2015 08:39:21 +0000 http://www.traveldailymedia.com/?p=220845 The post WEX Inc boosts payment options for European travellers appeared first on TD (Travel Daily Media) Brand TD.

Corporate payment solutions provider Wex Inc. has revealed European clients can now issue and settle payments in 11 currencies, up from the previous three.  WEX Europe will now issue virtual credit cards in the Australian Dollar, Danish Krone, New Zealand Dollar, Norwegian Krone, Polish Zloty, South African Rand, Swedish Krona, Swiss Franc, Euro, US Dollar […]

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The post WEX Inc boosts payment options for European travellers appeared first on TD (Travel Daily Media) Brand TD.

Corporate payment solutions provider Wex Inc. has revealed European clients can now issue and settle payments in 11 currencies, up from the previous three. 

WEX has expanded its payments system to include 11 currencies.
WEX has expanded its payments system to include 11 currencies.

WEX Europe will now issue virtual credit cards in the Australian Dollar, Danish Krone, New Zealand Dollar, Norwegian Krone, Polish Zloty, South African Rand, Swedish Krona, Swiss Franc, Euro, US Dollar and British Pound. In addition to companies headquartered in Europe, global companies with a European presence can also take advantage of this offering.

WEX, through its subsidiary WEX Europe, is strategically expanding its international footprint as a virtual payments specialist to provide credit, prepaid, and debit solutions in all major currencies.

Myles Stephenson, managing director of WEX Europe, said: “We’ve listened to our customers’ needs and business challenges, and implemented a solution that provides even more cost-effective ways to make international payments. This update enables WEX Europe customers to pay their global suppliers in local currencies more efficiently.”

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currency web
Online fraud cost UK holidaymakers £2.2m in 2014: report https://dev.traveldailymedia.com/online-fraud-cost-holidaymakers-2-2m-in-2014-report/ Sun, 12 Apr 2015 12:40:31 +0000 http://www.traveldailymedia.com/?p=220381 The post Online fraud cost UK holidaymakers £2.2m in 2014: report appeared first on TD (Travel Daily Media) Brand TD.

ABTA, The City of London Police and Get Safe Online have re-joined forces to warn the general public about the dangers posed by holiday booking fraud.  Findings from a new report compiled by the City of London Police reveal the scale of reported crime and expose common tactics used by fraudsters who stole an estimated […]

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The post Online fraud cost UK holidaymakers £2.2m in 2014: report appeared first on TD (Travel Daily Media) Brand TD.

ABTA, The City of London Police and Get Safe Online have re-joined forces to warn the general public about the dangers posed by holiday booking fraud. 

Scams are more frequent due to the rise of online bookings
Scams are more frequent due to the rise of online bookings

Findings from a new report compiled by the City of London Police reveal the scale of reported crime and expose common tactics used by fraudsters who stole an estimated £2.2 million from unsuspecting holidaymakers and other travellers in 2014.

According to the report compiled by the National Fraud Intelligence Bureau (NFIB) section of the City of London Police, the most common type of crime involved fraudsters hacking into the accounts of owners on well-known accommodation sites or spoofing these websites with convincing bogus imitations.

Disappointed holidaymakers found the villas and apartments they thought they had booked and paid for were non-existent or had never been booked.

UK caravan stays were also targeted with adverts for non-existent accommodation posted on Facebook, Gumtree and Craigslist.

Due to the nature of the crime, losses to the individual can be substantial with the average loss being £889. In one single case a member of the public lost £62,000 in a fraud relating to timeshare.

Losses are not just financial, with a third of victims saying that the fraud had a substantial impact on their health as well as their financial well-being. 167 victims reported that the impact of the crime was so severe that they had had to receive medical treatment.

There are spikes of reported fraud in the summer months and in December which paint a very clear picture of disappointed holidaymakers and ruined trips to visit loved ones for Christmas. The age group most commonly targeted are those aged 30-49, many of whom will be families. The majority of those who had been defrauded paid by methods such as bank transfer or cash with no means of getting their money back. Only a small proportion paid by credit or debit card where some form of redress is available to get your money back.

The 2014 report reveals that during a 12 month period 1,569 cases of holiday booking fraud were reported to the force’s Action Fraud. The most common types relate to holiday accommodation, airline tickets, sports and religious trips and holiday clubs.

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fraud web Scams are more frequent due to the rise of online bookings
UK holidaymakers cash in on strength of Sterling https://dev.traveldailymedia.com/uk-holidaymakers-cash-in-on-strength-of-sterling/ Mon, 09 Mar 2015 10:16:43 +0000 http://www.traveldailymedia.com/?p=219100 The post UK holidaymakers cash in on strength of Sterling appeared first on TD (Travel Daily Media) Brand TD.

Travel costs for UK holidaymakers have plummeted in the past two years as the value of Sterling has rocketed against foreign currencies. According to data collated by travel money business Centtrip, Sterling’s value has risen between 2.2% and 107% against 14 major currencies. Centtrip’s analysis reveals that two years ago the average British holidaymaker spent £628.51 […]

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The post UK holidaymakers cash in on strength of Sterling appeared first on TD (Travel Daily Media) Brand TD.

Travel costs for UK holidaymakers have plummeted in the past two years as the value of Sterling has rocketed against foreign currencies.

According to data collated by travel money business Centtrip, Sterling’s value has risen between 2.2% and 107% against 14 major currencies.

UK holidaymakers are enjoying cheaper travel as the pound rises in value.
UK holidaymakers are enjoying cheaper travel as the pound rises in value.

Centtrip’s analysis reveals that two years ago the average British holidaymaker spent £628.51 whilst on holiday, and depending on where they go today, because of the growing strength of Sterling, they could spend half this amount and still have the same spending power.

When comparing exchange rates on 3rd March in 2015 and 2013, Sterling has seen a 107.3% increase against the Russian Rouble. When compared against the Norwegian Krona, it is now worth 36.9% more, and the corresponding figures for the Australian Dollar, South African Rand and US Dollar are 33.5%, 32.0% and 2.2% respectively.

Based on the average spend whilst on holiday in 2013, Brits travelling to Russia today could spend £303.24 and have the same ‘spending power’ they enjoyed two years ago when average spend was £629. Corresponding figures for Norway, Australia, South Africa, Sweden, Japan, Canada and Poland are £459, £471, £476, £476, £481 £505 and £525 respectively.

Brian Jamieson, Co-Founder and Managing Director, Centtrip said: “We are seeing unprecedented levels of strength in Sterling and as it continues to grow, the power of our spending money whilst holidaying abroad increases. Many of our customers are locking in current attractive rates and buying Euros to use today or at a later date. There has not been a better time for Brits to travel abroad however we would urge travellers that want to take advantage of their increased spending power to check the spread rates when buying foreign currency.”

Currency Percentage increase in value of Sterling against this currency between 3rdMarch 2015 and 3rd March 2013 Amount you could spend today and have the same average spending power holidaymakers enjoyed in March 2013 (£628.51)
Russian Rouble 107.3% £303.24
Norwegian Krona 36.9% £459.18
Australian Dollar 33.5% £470.72
South African Rand 32.0% £476.15
Swedish Krona 32.0% £476.16
Japanese Yen 30.7% £480.89
Canadian Dollar 24.6% £504.60
Polish Zloty 19.7% £524.96
Euro 19.1% £527.70
Danish Krone 19.0% £527.94
NZ Dollar 11.7% £562.87
Swiss Franc 4.1% £603.55
HK Dollar 2.2% £614.88
US Dollar 2.2% £614.97

Source: Centtrip March 2015

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UK-sterling
万豪去年盈利破纪录上涨20% https://dev.traveldailymedia.com/wanhaoqunianyinglipojilushangzhang20/ Tue, 24 Feb 2015 09:32:56 +0000 http://www.traveldailychina.com/?p=7079 The post 万豪去年盈利破纪录上涨20% appeared first on TD (Travel Daily Media) Brand TD.

万豪国际2014年财政结果达到破纪录水平,营业额和利润额都大大增长,同时万豪也提高了投资组合。 万豪国际源自美国,据其财政报告显示2014年酒店全年财政净利润达到7.53亿美元(47.1亿元),比2013年度的6.26亿美元(39.15)上升了8%。这一结果大大归功于营业额上长8%达到138亿美元(863亿元),以及运营成本下降7%至126.4亿美元(790亿元)。万豪全年运营利润上长了17%至11.6亿美元(72.5亿元)。 万豪在2014年也将其版图扩张至4175座酒店,共714765间客房。比2013年底新增259座酒店共计39142间客房。这其中就包括在南非新建的Protea酒店。 “去年我们收获了破纪录的利润和超强劲的客房增长势头,2014年我们在全球客房增长上的表现是历史上最棒的一年,”Arne Sorenson,万豪的CEO兼总裁说道。“在2014年,我们签署的协议达到前所未有的10万间新增客房,将我们在建客房的总数量推向24万。在去年年底,我们在近79个国家和地区共计拥有近71.5万间客房。” “由于我们各地资产的超强表现,预计在2015年底前,万豪总共会有一百万间客房投入使用或已建设完备等待使用,”他补充到。 就酒店客房表现来看,万豪去年在每间可销售房收入上得到了全球范围内的增长。拉丁美洲和加勒比海地区的增速最快(上升9.4%达到146.83美元,约合918.4元),紧随其后的是中东和非洲地区(上升8.1%达到112.26美元,约合702.15元),北美地区(上升7.0%达到105.39美元,约合659.18元),亚太地区(上升5.0%达到130.71美元,约合817.55元),以及欧洲(上升2.7%至135.28美元,约合846.13元)。 展望2015年,万豪国际宣称希望其全球每间可销售房收入增长5%至7%,全体客房数量增长6%至7%。

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The post 万豪去年盈利破纪录上涨20% appeared first on TD (Travel Daily Media) Brand TD.

万豪国际截至2014年已拥有4175座酒店
万豪国际截至2014年已拥有4175座酒店

万豪国际2014年财政结果达到破纪录水平,营业额和利润额都大大增长,同时万豪也提高了投资组合。

万豪国际源自美国,据其财政报告显示2014年酒店全年财政净利润达到7.53亿美元(47.1亿元),比2013年度的6.26亿美元(39.15)上升了8%。这一结果大大归功于营业额上长8%达到138亿美元(863亿元),以及运营成本下降7%至126.4亿美元(790亿元)。万豪全年运营利润上长了17%至11.6亿美元(72.5亿元)。

万豪在2014年也将其版图扩张至4175座酒店,共714765间客房。比2013年底新增259座酒店共计39142间客房。这其中就包括在南非新建的Protea酒店。

“去年我们收获了破纪录的利润和超强劲的客房增长势头,2014年我们在全球客房增长上的表现是历史上最棒的一年,”Arne Sorenson,万豪的CEO兼总裁说道。“在2014年,我们签署的协议达到前所未有的10万间新增客房,将我们在建客房的总数量推向24万。在去年年底,我们在近79个国家和地区共计拥有近71.5万间客房。”

“由于我们各地资产的超强表现,预计在2015年底前,万豪总共会有一百万间客房投入使用或已建设完备等待使用,”他补充到。

就酒店客房表现来看,万豪去年在每间可销售房收入上得到了全球范围内的增长。拉丁美洲和加勒比海地区的增速最快(上升9.4%达到146.83美元,约合918.4元),紧随其后的是中东和非洲地区(上升8.1%达到112.26美元,约合702.15元),北美地区(上升7.0%达到105.39美元,约合659.18元),亚太地区(上升5.0%达到130.71美元,约合817.55元),以及欧洲(上升2.7%至135.28美元,约合846.13元)。

展望2015年,万豪国际宣称希望其全球每间可销售房收入增长5%至7%,全体客房数量增长6%至7%。

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Gulf Air launches Kabul route
Brand Karma and IDeaS launch social reputation/revenue management tool https://dev.traveldailymedia.com/brand-karma-and-ideas-launch-social-reputationrevenue-management-tool/ Tue, 15 Jul 2014 10:20:24 +0000 http://www.traveldailymedia.com/?p=209981 The post Brand Karma and IDeaS launch social reputation/revenue management tool appeared first on TD (Travel Daily Media) Brand TD.

Brand Karma in partnership with IDeaS Revenue Solutions has launched IDeaS Reputation Pricing module, which enables hotels to make reputation-aware pricing decisions by factoring in social media sentiment data.  The data comes from Brand Karma iO, the social business intelligence tool that analyzes a hotel’s online reputation against its competitors. Using this data, the IDeaS […]

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The post Brand Karma and IDeaS launch social reputation/revenue management tool appeared first on TD (Travel Daily Media) Brand TD.

Brand Karma in partnership with IDeaS Revenue Solutions has launched IDeaS Reputation Pricing module, which enables hotels to make reputation-aware pricing decisions by factoring in social media sentiment data. Brand karma

The data comes from Brand Karma iO, the social business intelligence tool that analyzes a hotel’s online reputation against its competitors. Using this data, the IDeaS Reputation Pricing module recommends a Best Available Rate (BAR) by considering a hotel’s online reputation against its competitors.

Siv Forlie, vice president of corporate revenue management of Shangri-La Hotels and Resorts, which participated in the charter program of the IDeaS Reputation Pricing module, said it would “enable us to look at sentiments and reputation data in combination with rates and performance, which is very exciting”.

“We are already seeing interesting correlations, and we look forward to further developing measurements in this area to learn more about how reputation can possibly impact pricing.”

CEO and co-founder of Brand Karma Morris Sim, said social reputation conversation had moved from “monitoring to monetisation”.

“Connecting a hotel’s pricing decisions with its online reputation is an important part of this shift, and it’s now a reality,” he asserted.

The IDeaS Reputation Pricing module will be available in an upcoming release of IDeaS RMS this month.

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Brand karma
欧洲游即日起可用支付宝退税 https://dev.traveldailymedia.com/ouzhouyoujiriqikeyongzhifubaotuishui/ Mon, 07 Jul 2014 02:21:53 +0000 http://www.traveldailychina.com/?p=4839 The post 欧洲游即日起可用支付宝退税 appeared first on TD (Travel Daily Media) Brand TD.

支付宝公司近日向新华网记者证实,他们已与海外购物退税机构瑞士环球蓝联达成合作,7月中旬起,中国游客在法国、德国等欧洲国家旅游购物,将可以通过支付宝退税。 据透露,此次开通支付宝退税的包括法国、德国等地的5000多个商家,未来将进一步铺开。具体操作流程,支付宝方面称将稍后公布。 此前在2013年国庆节期间,支付宝已经开通中国游客在韩国旅游购物的退税服务,具体的操作流程是,消费者在退税单上填好绑定支付宝的手机号,以及护照号和英文名。随后在离境前把退税单交给海关检查盖章,并投递到机场指定的信箱。最快7个工作日,退税金额会兑成人民币转到消费者的支付宝账户,短信通知消费者确认。退税应收款的2%将被支付给商诚(上海)商业保理有限公司。

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tax free
tax free

支付宝公司近日向新华网记者证实,他们已与海外购物退税机构瑞士环球蓝联达成合作,7月中旬起,中国游客在法国、德国等欧洲国家旅游购物,将可以通过支付宝退税。

据透露,此次开通支付宝退税的包括法国、德国等地的5000多个商家,未来将进一步铺开。具体操作流程,支付宝方面称将稍后公布。

此前在2013年国庆节期间,支付宝已经开通中国游客在韩国旅游购物的退税服务,具体的操作流程是,消费者在退税单上填好绑定支付宝的手机号,以及护照号和英文名。随后在离境前把退税单交给海关检查盖章,并投递到机场指定的信箱。最快7个工作日,退税金额会兑成人民币转到消费者的支付宝账户,短信通知消费者确认。退税应收款的2%将被支付给商诚(上海)商业保理有限公司。

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Great Wall is Beijing’s most dangerous attraction
Hotel tax to fund Dubai Expo 2020 https://dev.traveldailymedia.com/hotel-tax-to-fund-dubai-expo-2020/ Sat, 01 Feb 2014 16:34:29 +0000 http://www.traveldailymedia.com/?p=203181 The post Hotel tax to fund Dubai Expo 2020 appeared first on TD (Travel Daily Media) Brand TD.

The cost of financing the World Expo 2020 in Dubai could be paid in part by a tax on hotel nights according to an announcement last week by Helal Saeed Al Marri, the director general of Dubai Tourism and Commerce Marketing (DTCM). Tagged “Tourism Dirhams” the intention is to generate a fixed sum from every […]

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The post Hotel tax to fund Dubai Expo 2020 appeared first on TD (Travel Daily Media) Brand TD.

The cost of financing the World Expo 2020 in Dubai could be paid in part by a tax on hotel nights according to an announcement last week by Helal Saeed Al Marri, the director general of Dubai Tourism and Commerce Marketing (DTCM).

The cost of Tourism Dirhams is yet to be seen
The cost of Tourism Dirhams is yet to be seen

Tagged “Tourism Dirhams” the intention is to generate a fixed sum from every hotel night within the emirate, however a precise figure has not yet been agreed as the programme is still in the design phase.

The cost of Expo 2020 infrastructure development is expected to be US$8.8 billion to be funded for the most part by the Government and Foreign Investment. The role of the hospitality sector in project financing is yet unclear with more information promised by DCTM over the next ten days. In the meantime, hoteliers are keeping a cool head as they await details of the Tourism Dirhams programme.

Laurent Voivenel, chief executive of the Dubai-based operator Hospitality Management Holdings, told The National newspaper; “As we have still not received any information regarding the value of Tourism Dirhams to be levied on hotels and hotel apartments in Dubai, it is difficult to anticipate or calculate the impact of this fee on the room rates at the various hotels in HMH portfolio in Dubai.”

The same source reported that hotel guests in Dubai currently pay 10% municipality fees plus 10% services charges, both based on their daily room rates which as of December, stood at US$289.

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Dirhams The cost of Tourism Dirhams is yet to be seen
移动互联网注册中心:移动旅游消费市场份额激增 https://dev.traveldailymedia.com/yidonghulianwangzhucezhongxinyidonglvyouxiaofeibang/ Mon, 06 Jan 2014 07:44:38 +0000 http://www.traveldailychina.com/?p=3533 The post 移动互联网注册中心:移动旅游消费市场份额激增 appeared first on TD (Travel Daily Media) Brand TD.

随着移动互联网的快速发展,很多企业都看到了其蕴含的广阔商机,多数企业都调整了自身的销售策略,在移动互联网终端加入自身的广告,推广企业品牌与产品。尤其在旅游业,借助于移动互联网终端,许多旅游消费者都会通过移动互联网解决自身的饮食、住宿、交通以及门票等事宜,让整个旅游出行变得异常方便。 近期,知名广告平台Tapjoy公司针对移动互联网终端的旅游消费,随机调查了平台内860名用户,其调查报告如下:1、50%的用户会在移动终端搜索自己感兴趣的旅游项目,并通过移动互联网了解详细信息;2、35%的用户表示自己的旅游计划都是通过移动设备制定的;3、72%的受访者都会在出游前90天内在移动互联网终端订购期间所需的各类门票;4、16%的受访者购买机票都是通过移动终端;5、面对临时发生的变故,65%的被访者表示自身会使用移动设备来解决问题。 短短几年,随着手机、平板电脑的广泛应用于普及,移动互联网已经走过了互联网几十年的路程,正呈现出迅猛发展的趋势。移动互联网注册中心根据Typjoy公司提供的数据,结合国内的旅游状况,得出了两大结论: 一方面,移动互联网在人们的生活中有着无可替代的作用。虽然此次调查主要针对旅游行业,但从调查报告可知,一半以上的消费者在处理旅游期间衣食住行的问题时,习惯性的选择移动终端;而遇到突发事宜,大部分消费者也会依靠移动终端解决问题;72%的消费者使用移动互联网订购门票,16%的受访者订购机票,移动终端订票备受消费者重视。移动互联网注册中心的专家指出,虽然移动互联网涉及的内容不是十分精细,但随着行业的进一步发展,未来其在人们生活中的地位无可取代。 另一方面,移动互联网已经得到企业的广泛重视。在本次调查中,消费者无论是寻找旅游项目的详细信息、旅游出行的订票、制定旅游计划,还是解决突发事件,都可以在移动互联网上找寻所需要的信息或解决途径。这表明,企业已经加大了对移动互联网终端的投入,而且涉及到的领域十分的详细,在移动互联网注册中心看来,上述调查数据背后同样反映了企业开始加强与移动互联网的融合,以期望进一步拓展自身的影响力与知名度。 来源:中国商业电讯

The post 移动互联网注册中心:移动旅游消费市场份额激增 appeared first on Brand TD.

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The post 移动互联网注册中心:移动旅游消费市场份额激增 appeared first on TD (Travel Daily Media) Brand TD.

随着移动互联网的快速发展,很多企业都看到了其蕴含的广阔商机,多数企业都调整了自身的销售策略,在移动互联网终端加入自身的广告,推广企业品牌与产品。尤其在旅游业,借助于移动互联网终端,许多旅游消费者都会通过移动互联网解决自身的饮食、住宿、交通以及门票等事宜,让整个旅游出行变得异常方便。

近期,知名广告平台Tapjoy公司针对移动互联网终端的旅游消费,随机调查了平台内860名用户,其调查报告如下:1、50%的用户会在移动终端搜索自己感兴趣的旅游项目,并通过移动互联网了解详细信息;2、35%的用户表示自己的旅游计划都是通过移动设备制定的;3、72%的受访者都会在出游前90天内在移动互联网终端订购期间所需的各类门票;4、16%的受访者购买机票都是通过移动终端;5、面对临时发生的变故,65%的被访者表示自身会使用移动设备来解决问题。

短短几年,随着手机、平板电脑的广泛应用于普及,移动互联网已经走过了互联网几十年的路程,正呈现出迅猛发展的趋势。移动互联网注册中心根据Typjoy公司提供的数据,结合国内的旅游状况,得出了两大结论:

一方面,移动互联网在人们的生活中有着无可替代的作用。虽然此次调查主要针对旅游行业,但从调查报告可知,一半以上的消费者在处理旅游期间衣食住行的问题时,习惯性的选择移动终端;而遇到突发事宜,大部分消费者也会依靠移动终端解决问题;72%的消费者使用移动互联网订购门票,16%的受访者订购机票,移动终端订票备受消费者重视。移动互联网注册中心的专家指出,虽然移动互联网涉及的内容不是十分精细,但随着行业的进一步发展,未来其在人们生活中的地位无可取代。

另一方面,移动互联网已经得到企业的广泛重视。在本次调查中,消费者无论是寻找旅游项目的详细信息、旅游出行的订票、制定旅游计划,还是解决突发事件,都可以在移动互联网上找寻所需要的信息或解决途径。这表明,企业已经加大了对移动互联网终端的投入,而且涉及到的领域十分的详细,在移动互联网注册中心看来,上述调查数据背后同样反映了企业开始加强与移动互联网的融合,以期望进一步拓展自身的影响力与知名度。

来源:中国商业电讯

The post 移动互联网注册中心:移动旅游消费市场份额激增 appeared first on Brand TD.

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2013年我国预计旅游总收入2.9万亿元 https://dev.traveldailymedia.com/2013nianwoguoyujilvyouzongshouru29wanyiyuan/ Mon, 06 Jan 2014 07:42:25 +0000 http://www.traveldailychina.com/?p=3532 The post 2013年我国预计旅游总收入2.9万亿元 appeared first on TD (Travel Daily Media) Brand TD.

刚刚过去的2013年,我国旅游业实现持续健康较快发展,预计全年旅游总收入可达2.9万亿元,国内旅游人数可达32.5亿人次。 国家旅游局局长邵琪伟6日在2014年全国旅游工作会议上说,预计全年旅游总收入可达2.9万亿元,国内旅游人数可达32.5亿人次,国内旅游收入可达2.54万亿元;出境旅游人数约9730万人次;入境过夜人数约5570万人次,旅游外汇收入约478亿美元。新增旅游直接就业50多万人。 邵琪伟说,旅游法的出台和实施,标志着我国旅游业法制化建设实现根本性突破,进入了依法治旅、依法兴旅的新阶段。按照国务院有关要求,各级政府及旅游部门周密部署,积极行动,扎实推进各项工作的贯彻落实。《中国公民出国旅游管理办法》列入国务院立法计划,国家旅游局确定了31项配套制度,初步形成了旅游法配套制度体系。各级旅游部门共开展旅游市场检查1.3万次,检查旅游企业6.4万家、导游人员4.4万人次,处罚589家企业和325名从业人员。扰乱旅游市场秩序、侵害旅游者合法权益的违法违规行为初步得到遏制。 据介绍,2013年全国旅游系统积极推进各项改革,不断释放旅游业发展活力和动力,在若干领域取得突破。国家旅游局决定将10项行政审批事项取消4项、下放3项;各省区市旅游局也将部分行政审批下放给符合条件的地州市。北京、广东、海南、云南、福建、安徽等省市积极推进旅游业改革创新,全国各地形成了以改革促发展的工作格局。 来源:新华网

The post 2013年我国预计旅游总收入2.9万亿元 appeared first on Brand TD.

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The post 2013年我国预计旅游总收入2.9万亿元 appeared first on TD (Travel Daily Media) Brand TD.

刚刚过去的2013年,我国旅游业实现持续健康较快发展,预计全年旅游总收入可达2.9万亿元,国内旅游人数可达32.5亿人次。

国家旅游局局长邵琪伟6日在2014年全国旅游工作会议上说,预计全年旅游总收入可达2.9万亿元,国内旅游人数可达32.5亿人次,国内旅游收入可达2.54万亿元;出境旅游人数约9730万人次;入境过夜人数约5570万人次,旅游外汇收入约478亿美元。新增旅游直接就业50多万人。

邵琪伟说,旅游法的出台和实施,标志着我国旅游业法制化建设实现根本性突破,进入了依法治旅、依法兴旅的新阶段。按照国务院有关要求,各级政府及旅游部门周密部署,积极行动,扎实推进各项工作的贯彻落实。《中国公民出国旅游管理办法》列入国务院立法计划,国家旅游局确定了31项配套制度,初步形成了旅游法配套制度体系。各级旅游部门共开展旅游市场检查1.3万次,检查旅游企业6.4万家、导游人员4.4万人次,处罚589家企业和325名从业人员。扰乱旅游市场秩序、侵害旅游者合法权益的违法违规行为初步得到遏制。

据介绍,2013年全国旅游系统积极推进各项改革,不断释放旅游业发展活力和动力,在若干领域取得突破。国家旅游局决定将10项行政审批事项取消4项、下放3项;各省区市旅游局也将部分行政审批下放给符合条件的地州市。北京、广东、海南、云南、福建、安徽等省市积极推进旅游业改革创新,全国各地形成了以改革促发展的工作格局。

来源:新华网

The post 2013年我国预计旅游总收入2.9万亿元 appeared first on Brand TD.

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劲旅咨询:2013年中国旅游企业融资总额近100亿 https://dev.traveldailymedia.com/jinlvzixun2013nianzhongguolvyouqiyerongzizonga/ Wed, 25 Dec 2013 06:05:50 +0000 http://www.traveldailychina.com/?p=3450 The post 劲旅咨询:2013年中国旅游企业融资总额近100亿 appeared first on TD (Travel Daily Media) Brand TD.

劲旅网讯,2013年是中国旅游业持续火爆并备受关注的一年。国际国内资本市场对中国旅游企业加倍青睐,据劲旅咨询-劲旅智库不完全统计,全年中国旅游业融资并购涉及金额达到了近100亿元人民币。随着大量资金进入旅游业,必将加速中国旅游企业在商业模式创新、人才引进、产品研发、营销创新等多方面的发展。 劲旅咨询-劲旅智库汇总了2013年全年中国旅游相关企业的融资并购事件,具体如下: 来源:劲旅网

The post 劲旅咨询:2013年中国旅游企业融资总额近100亿 appeared first on Brand TD.

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The post 劲旅咨询:2013年中国旅游企业融资总额近100亿 appeared first on TD (Travel Daily Media) Brand TD.

劲旅网讯,2013年是中国旅游业持续火爆并备受关注的一年。国际国内资本市场对中国旅游企业加倍青睐,据劲旅咨询-劲旅智库不完全统计,全年中国旅游业融资并购涉及金额达到了近100亿元人民币。随着大量资金进入旅游业,必将加速中国旅游企业在商业模式创新、人才引进、产品研发、营销创新等多方面的发展。

劲旅咨询-劲旅智库汇总了2013年全年中国旅游相关企业的融资并购事件,具体如下:

来源:劲旅网

The post 劲旅咨询:2013年中国旅游企业融资总额近100亿 appeared first on Brand TD.

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旅行社与金融机构合作推“按揭旅游” https://dev.traveldailymedia.com/lvxingsheyujinrongjigouhezuotuianjielvyou/ Tue, 26 Nov 2013 07:54:33 +0000 http://www.traveldailychina.com/?p=2377 The post 旅行社与金融机构合作推“按揭旅游” appeared first on TD (Travel Daily Media) Brand TD.

《旅游法》实施已近两月,旅游业受到的影响仍在持续发酵。客源大幅减少让传统旅行社的业务备受打击。旅行社纷纷开始寻求与金融机构合作,推出“旅游贷款”。 据了解,兴业银行与国旅总社达成协议,推出按揭旅游服务。这项服务针对千元到数十万元不等的旅游产品。 记者了解到,此次并非是银行和旅行社首次跨界合作。在国旅之前,兴业银行已经和凯撒旅游、众信旅游及中青旅等旅游企业签订协议。据兴业银行统计数据显示,从今年5月16日推出“旅游贷款”业务截至11月20日,该行“旅游贷款”国内申请者达到16万人,审批金额达到126亿元,旅游贷款发放的客户数达到6.6万人,放款超过80亿元。根据中青旅2012年年报显示,旅行社业务年收入67.5亿元。 兴业银行副行长陈锦光告诉记者,该行调查数据显示,25-49岁消费者对“贷款旅游”接受程度更高。 资料显示,类似跨行业合作案例也早有出现, 2010年凯撒旅游就联合中国银行推出“个人旅游信用卡分期付款”活动;从去年国旅总社与中国银联达成合作,到上个月众信旅游与北银消费金融有限公司联合推出的“轻松付”旅游贷款业务,业内人士普遍表示,“旅游贷款”业务的设计、推广,是旅行社“应对市场低迷的开拓之举”,对金融机构来讲,是对“信用卡消费的挖掘”。 对于“旅游贷款”的未来前景,业内出现了不同的看法。中国社科院旅游研究中心特约研究员刘思敏认为,旅游通常是建立在一定的物质和文化基础之上,相比购房、购车等物质方面的刚性需求,需求不大,涉及金额不高,因此旅游贷款的受众相对小,其本身的局限很难突破。但国旅总社副总经理王延光认为,旅行社和金融机构的合作,来源于旅游消费的支付、结算环节新的需求,金融业介入旅游不可避免。  

The post 旅行社与金融机构合作推“按揭旅游” appeared first on Brand TD.

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The post 旅行社与金融机构合作推“按揭旅游” appeared first on TD (Travel Daily Media) Brand TD.

《旅游法》实施已近两月,旅游业受到的影响仍在持续发酵。客源大幅减少让传统旅行社的业务备受打击。旅行社纷纷开始寻求与金融机构合作,推出“旅游贷款”。 据了解,兴业银行与国旅总社达成协议,推出按揭旅游服务。这项服务针对千元到数十万元不等的旅游产品。

记者了解到,此次并非是银行和旅行社首次跨界合作。在国旅之前,兴业银行已经和凯撒旅游、众信旅游及中青旅等旅游企业签订协议。据兴业银行统计数据显示,从今年5月16日推出“旅游贷款”业务截至11月20日,该行“旅游贷款”国内申请者达到16万人,审批金额达到126亿元,旅游贷款发放的客户数达到6.6万人,放款超过80亿元。根据中青旅2012年年报显示,旅行社业务年收入67.5亿元。

兴业银行副行长陈锦光告诉记者,该行调查数据显示,25-49岁消费者对“贷款旅游”接受程度更高。

资料显示,类似跨行业合作案例也早有出现, 2010年凯撒旅游就联合中国银行推出“个人旅游信用卡分期付款”活动;从去年国旅总社与中国银联达成合作,到上个月众信旅游与北银消费金融有限公司联合推出的“轻松付”旅游贷款业务,业内人士普遍表示,“旅游贷款”业务的设计、推广,是旅行社“应对市场低迷的开拓之举”,对金融机构来讲,是对“信用卡消费的挖掘”。

对于“旅游贷款”的未来前景,业内出现了不同的看法。中国社科院旅游研究中心特约研究员刘思敏认为,旅游通常是建立在一定的物质和文化基础之上,相比购房、购车等物质方面的刚性需求,需求不大,涉及金额不高,因此旅游贷款的受众相对小,其本身的局限很难突破。但国旅总社副总经理王延光认为,旅行社和金融机构的合作,来源于旅游消费的支付、结算环节新的需求,金融业介入旅游不可避免。

 

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奢侈品面临大衰退 一线大牌被高资产消费群抛弃 https://dev.traveldailymedia.com/shechipinmianlindashuaituiyixiandapaibeigaozichanai/ Fri, 22 Nov 2013 06:01:35 +0000 http://www.traveldailychina.com/?p=2225 The post 奢侈品面临大衰退 一线大牌被高资产消费群抛弃 appeared first on TD (Travel Daily Media) Brand TD.

2013年,中国人买走全球47%的奢侈品,奢侈品消费总额将达1020亿美元,成为全球奢侈品市场无可争议的最大客户。但其中本土消费仅约280亿美元,境外消费则将达740亿美元。日前由中国奢侈品市场权威研究机构财富品质研究院发布的2013年度《中国奢侈品报告》公布了上述数据。 报告指出,虽然奢侈品销售业绩不错,但形势很严峻,很多一线奢侈品牌已经被中国消费者抛弃。3-5年内,随着奢侈品核心消费者逃离将进一步严重影响边缘消费者和潜在消费者的消费热情,奢侈品牌将迎来大规模衰退。而假货将成为压倒奢侈品牌进一步衰退的最后一根稻草。 增长主要源于新市场新店面增加 报告显示,2013年,虽然全球奢侈品市场面临诸多压力,但是全球奢侈品市场总容量仍将达到创纪录的2170亿美元,预计全年增长率达到11%。中国人买走全球47%的奢侈品,2013年奢侈品消费总额将达1020亿美元,约合6000多亿人民币,成为全球奢侈品市场无可争议的最大客户。其中,中国奢侈品市场本土消费仅约280亿美元,预计增幅3%,境外消费进一步增长,将达740亿美元。 财富品质研究院调研显示,奢侈品市场虽然继续高速发展,但是针对奢侈品牌和奢侈品行业来说,存在巨大危机和隐患,奢侈品的增长主要来源于新兴消费势力的增长和新市场新店面的增加,预计各大奢侈品集团即使在控制开店的情况下,2013年平均店铺增长率仍将达到9%。在新市场开设新店面是奢侈品销量增长的主要来源,同时,这些店面也成为了奢侈品的广告招牌,吸引了更多的消费者到奢侈品原产地消费,进一步拉高奢侈品在欧美地区的消费。而相反,欧美本土消费者的奢侈品消费热情开始降低。 一线大牌被高资产核心消费群抛弃 除了上述基本数据,《中国奢侈品报告》不再对具体细分数据进行分析和强调,而是对奢侈品行业的发展趋势做了预测,甚至有些唱衰全球与中国奢侈品行业。 据财富品质研究院对4650名中国高资产消费者的调研发现,很多一线奢侈品牌已经被中国消费者抛弃,特别是一些超高资产的奢侈品核心消费者。该机构还预测,高资产的核心消费者的逃离在未来将进一步加剧,而中等资产的边缘消费者的增加速度将进一步放缓,并预测3-5年内,奢侈品核心消费者逃离将进一步严重影响边缘消费者和潜在消费者的消费热情,奢侈品牌将迎来大规模衰退。 究其原因,假货将成为压倒奢侈品牌的最后一根稻草。一直以来,假货虽让奢侈品牌头疼,但未引起足够重视,但是,据财富品质研究院调研发现,假货可见度已经超过真品可见度,即大量假货已经让奢侈品完全大众化,不再拥有神秘感,对消费者的吸引力降低。 报告还首次推出“奢侈品牌价值和奢侈品市场可见度博弈理论”,并推测以LV、Gucci、卡地亚等品牌为代表的奢侈品牌其市场可见度已经超过作为奢侈品牌的合理临界点,进一步的大规模市场销售以及对于假货的不作为和无力作为,其品牌价值将进一步降低,市场发展潜力将进一步受到限制。 中国企业莫盲目收购国外奢侈品牌 报告还指出,奢侈品牌的大众化和时尚化趋势进一步加强,以及消费者的逐步成长,奢侈品溢价空间进一步降低,忌讳谈性价比的奢侈品也将迎来“新性价比”时代,“重视性价比”将成为很多奢侈品牌的市场策略之一,并将出现在更多奢侈品牌的财报上。 不仅如此,奢侈品大牌的逐渐失去个性,将让奢侈品定制产业迎来规模化发展机会,体验性强并能体现个人色彩的奢侈品牌将受到更多追捧,logo消费将进一步成为过去时,该机构还预测,到2013年底,中国奢侈品市场定制品牌数量将超过4000个。 对于中国奢侈品牌的发展,报告也有所提及,并认为其将获得进一步发展,很多中国最具潜力的奢侈品牌开始具有一定市场规模和竞争力,并且很多中国企业和企业家开始更多参股和收购国外奢侈品牌。但是,财富品质研究院院长周婷博士认为,现在是出售奢侈品牌的最好时机,并不十分建议中国企业家去境外收购奢侈品牌,但是很建议中国企业家去收购奢侈品原材料生产企业,因为那对整个奢侈品行业更有价值,并期待中国企业家在奢侈品行业有更多建树。  

The post 奢侈品面临大衰退 一线大牌被高资产消费群抛弃 appeared first on Brand TD.

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The post 奢侈品面临大衰退 一线大牌被高资产消费群抛弃 appeared first on TD (Travel Daily Media) Brand TD.

2013年,中国人买走全球47%的奢侈品,奢侈品消费总额将达1020亿美元,成为全球奢侈品市场无可争议的最大客户。但其中本土消费仅约280亿美元,境外消费则将达740亿美元。日前由中国奢侈品市场权威研究机构财富品质研究院发布的2013年度《中国奢侈品报告》公布了上述数据。

报告指出,虽然奢侈品销售业绩不错,但形势很严峻,很多一线奢侈品牌已经被中国消费者抛弃。3-5年内,随着奢侈品核心消费者逃离将进一步严重影响边缘消费者和潜在消费者的消费热情,奢侈品牌将迎来大规模衰退。而假货将成为压倒奢侈品牌进一步衰退的最后一根稻草。

增长主要源于新市场新店面增加

报告显示,2013年,虽然全球奢侈品市场面临诸多压力,但是全球奢侈品市场总容量仍将达到创纪录的2170亿美元,预计全年增长率达到11%。中国人买走全球47%的奢侈品,2013年奢侈品消费总额将达1020亿美元,约合6000多亿人民币,成为全球奢侈品市场无可争议的最大客户。其中,中国奢侈品市场本土消费仅约280亿美元,预计增幅3%,境外消费进一步增长,将达740亿美元。

财富品质研究院调研显示,奢侈品市场虽然继续高速发展,但是针对奢侈品牌和奢侈品行业来说,存在巨大危机和隐患,奢侈品的增长主要来源于新兴消费势力的增长和新市场新店面的增加,预计各大奢侈品集团即使在控制开店的情况下,2013年平均店铺增长率仍将达到9%。在新市场开设新店面是奢侈品销量增长的主要来源,同时,这些店面也成为了奢侈品的广告招牌,吸引了更多的消费者到奢侈品原产地消费,进一步拉高奢侈品在欧美地区的消费。而相反,欧美本土消费者的奢侈品消费热情开始降低。

一线大牌被高资产核心消费群抛弃

除了上述基本数据,《中国奢侈品报告》不再对具体细分数据进行分析和强调,而是对奢侈品行业的发展趋势做了预测,甚至有些唱衰全球与中国奢侈品行业。

据财富品质研究院对4650名中国高资产消费者的调研发现,很多一线奢侈品牌已经被中国消费者抛弃,特别是一些超高资产的奢侈品核心消费者。该机构还预测,高资产的核心消费者的逃离在未来将进一步加剧,而中等资产的边缘消费者的增加速度将进一步放缓,并预测3-5年内,奢侈品核心消费者逃离将进一步严重影响边缘消费者和潜在消费者的消费热情,奢侈品牌将迎来大规模衰退。

究其原因,假货将成为压倒奢侈品牌的最后一根稻草。一直以来,假货虽让奢侈品牌头疼,但未引起足够重视,但是,据财富品质研究院调研发现,假货可见度已经超过真品可见度,即大量假货已经让奢侈品完全大众化,不再拥有神秘感,对消费者的吸引力降低。

报告还首次推出“奢侈品牌价值和奢侈品市场可见度博弈理论”,并推测以LV、Gucci、卡地亚等品牌为代表的奢侈品牌其市场可见度已经超过作为奢侈品牌的合理临界点,进一步的大规模市场销售以及对于假货的不作为和无力作为,其品牌价值将进一步降低,市场发展潜力将进一步受到限制。

中国企业莫盲目收购国外奢侈品牌

报告还指出,奢侈品牌的大众化和时尚化趋势进一步加强,以及消费者的逐步成长,奢侈品溢价空间进一步降低,忌讳谈性价比的奢侈品也将迎来“新性价比”时代,“重视性价比”将成为很多奢侈品牌的市场策略之一,并将出现在更多奢侈品牌的财报上。

不仅如此,奢侈品大牌的逐渐失去个性,将让奢侈品定制产业迎来规模化发展机会,体验性强并能体现个人色彩的奢侈品牌将受到更多追捧,logo消费将进一步成为过去时,该机构还预测,到2013年底,中国奢侈品市场定制品牌数量将超过4000个。

对于中国奢侈品牌的发展,报告也有所提及,并认为其将获得进一步发展,很多中国最具潜力的奢侈品牌开始具有一定市场规模和竞争力,并且很多中国企业和企业家开始更多参股和收购国外奢侈品牌。但是,财富品质研究院院长周婷博士认为,现在是出售奢侈品牌的最好时机,并不十分建议中国企业家去境外收购奢侈品牌,但是很建议中国企业家去收购奢侈品原材料生产企业,因为那对整个奢侈品行业更有价值,并期待中国企业家在奢侈品行业有更多建树。

 

The post 奢侈品面临大衰退 一线大牌被高资产消费群抛弃 appeared first on Brand TD.

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易游天下收购美景假期 明年拟继续融资 https://dev.traveldailymedia.com/yiyoutianxiashougoumeijingjiaqimingniannijixuao/ Fri, 22 Nov 2013 05:26:42 +0000 http://www.traveldailychina.com/?p=2210 The post 易游天下收购美景假期 明年拟继续融资 appeared first on TD (Travel Daily Media) Brand TD.

易游天下国旅(以下简称“易游天下”)董事长甄浩透露,其刚收购北京美景假期国际旅行社有限公司(以下简称“美景假期”)100%股权,至此其线下在北京地区有近400家旅行社零售门店,为北京地区最大实体规模。 已经获得一轮千万元人民币级别融资的易游天下正与数家投资机构商谈,明年一季度拟再进行一轮融资。 易游天下成立于2009年,其模式为线下到线上的O2O,其成立一个统一的营销和结算平台,然后发展线下实体旅行社门店加盟,统一推广、交易。目前其在全国10多个省有60多家分社,并已参股广东天马国旅。 “我们的收益来源主要有三个,其一是各个连锁门店的加盟费、品牌使用费等,二是源于供应商的佣金、三是源于平台运营的衍生收益,比如增值服务等。”甄浩透露,其此种新型O2O模式已获资本界青睐,此前已得到一轮千万元人民币级别的融资,目前正有几家投机机构洽谈投资事宜,预计明年第一季度可能再次进行融资。至于上市则是3年后的事情,但的确有上市计划。 作为开拓线下业务之举,日前,易游天下100%全资收购美景假期,甄浩表示收购金额不便透露,由于易游天下原本在北京地区就有300家左右实体零售店,加上此番收购的美景假期则其在北京地区的旅游零售门店规模将近400家,成为当地最大规模。 据悉,完成收购后的易游天下和美景假期将实行差异化的市场品牌战略,保持两个品牌运作的灵活性和相对独立性,发挥两个品牌的互补优势、协同优势。完成收购后的易游天下计划在2013年年底,整体零售规模要突破500家,年营业额超过20亿人民币。 有业内分析称,受《旅游法》限制及旅游网站冲击,资本将对传统旅行社进行收购将促进线下旅行社有效整合。当前传统旅行社估值较低、性价比高,对产业资本而言也是出手的好时机。  

The post 易游天下收购美景假期 明年拟继续融资 appeared first on Brand TD.

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The post 易游天下收购美景假期 明年拟继续融资 appeared first on TD (Travel Daily Media) Brand TD.

易游天下国旅(以下简称“易游天下”)董事长甄浩透露,其刚收购北京美景假期国际旅行社有限公司(以下简称“美景假期”)100%股权,至此其线下在北京地区有近400家旅行社零售门店,为北京地区最大实体规模。

已经获得一轮千万元人民币级别融资的易游天下正与数家投资机构商谈,明年一季度拟再进行一轮融资。

易游天下成立于2009年,其模式为线下到线上的O2O,其成立一个统一的营销和结算平台,然后发展线下实体旅行社门店加盟,统一推广、交易。目前其在全国10多个省有60多家分社,并已参股广东天马国旅。

“我们的收益来源主要有三个,其一是各个连锁门店的加盟费、品牌使用费等,二是源于供应商的佣金、三是源于平台运营的衍生收益,比如增值服务等。”甄浩透露,其此种新型O2O模式已获资本界青睐,此前已得到一轮千万元人民币级别的融资,目前正有几家投机机构洽谈投资事宜,预计明年第一季度可能再次进行融资。至于上市则是3年后的事情,但的确有上市计划。

作为开拓线下业务之举,日前,易游天下100%全资收购美景假期,甄浩表示收购金额不便透露,由于易游天下原本在北京地区就有300家左右实体零售店,加上此番收购的美景假期则其在北京地区的旅游零售门店规模将近400家,成为当地最大规模。

据悉,完成收购后的易游天下和美景假期将实行差异化的市场品牌战略,保持两个品牌运作的灵活性和相对独立性,发挥两个品牌的互补优势、协同优势。完成收购后的易游天下计划在2013年年底,整体零售规模要突破500家,年营业额超过20亿人民币。

有业内分析称,受《旅游法》限制及旅游网站冲击,资本将对传统旅行社进行收购将促进线下旅行社有效整合。当前传统旅行社估值较低、性价比高,对产业资本而言也是出手的好时机。

 

The post 易游天下收购美景假期 明年拟继续融资 appeared first on Brand TD.

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联合航空计划到2017年削减20亿美元成本 https://dev.traveldailymedia.com/lianhehangkongjihuadao2017nianxiaojian20yimeiyuanchengben/ Fri, 22 Nov 2013 05:17:50 +0000 http://www.traveldailychina.com/?p=2206 The post 联合航空计划到2017年削减20亿美元成本 appeared first on TD (Travel Daily Media) Brand TD.

联合航空公司拟定了一项战略计划,即到2017年将把年度成本削减20亿美元,每年增加辅助性收入7亿美元。 “成本削减计划包括减少油耗、提升生产效率、降低采购成本、完善维护流程和库存程序以及优化分销方法,”联合航空在一份声明中表示,同时,该公司还补充称,辅助性收入目标将“通过为客户提供新的选择、优化现有产品的价格以及通过其他分销渠道扩展辅助性产品的供应”等方法实现。 联合航空在2010年与大陆航空公司合并后,曾为实现持续盈利而苦苦挣扎,其业绩明显落后于2008年与西北航空公司合并的竞争对手达美航空公司的财务业绩。母公司联合大陆控股公司(以下简称“UCH”)2012年遭遇净亏损7.63亿美元,而2011年的净亏损额为9.77亿美元。 UCH在2013年第三季度获得净收入3.79亿美元,但公司董事长、总裁兼首席执行官Jeff Smisek表示,这些业绩结果“与我们可以而且应该实现的结果相去甚远,”特别是考虑到竞争对手在同期也获得了丰厚收入这一情况。  

The post 联合航空计划到2017年削减20亿美元成本 appeared first on Brand TD.

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The post 联合航空计划到2017年削减20亿美元成本 appeared first on TD (Travel Daily Media) Brand TD.

联合航空公司拟定了一项战略计划,即到2017年将把年度成本削减20亿美元,每年增加辅助性收入7亿美元。

“成本削减计划包括减少油耗、提升生产效率、降低采购成本、完善维护流程和库存程序以及优化分销方法,”联合航空在一份声明中表示,同时,该公司还补充称,辅助性收入目标将“通过为客户提供新的选择、优化现有产品的价格以及通过其他分销渠道扩展辅助性产品的供应”等方法实现。

联合航空在2010年与大陆航空公司合并后,曾为实现持续盈利而苦苦挣扎,其业绩明显落后于2008年与西北航空公司合并的竞争对手达美航空公司的财务业绩。母公司联合大陆控股公司(以下简称“UCH”)2012年遭遇净亏损7.63亿美元,而2011年的净亏损额为9.77亿美元。

UCH在2013年第三季度获得净收入3.79亿美元,但公司董事长、总裁兼首席执行官Jeff Smisek表示,这些业绩结果“与我们可以而且应该实现的结果相去甚远,”特别是考虑到竞争对手在同期也获得了丰厚收入这一情况。

 

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甘肃省今年预计实现旅游总收入610亿元 https://dev.traveldailymedia.com/gansushengjinnianyujishixianlvyouzongshouru610yiba/ Tue, 19 Nov 2013 07:10:35 +0000 http://www.traveldailychina.com/?p=2070 The post 甘肃省今年预计实现旅游总收入610亿元 appeared first on TD (Travel Daily Media) Brand TD.

记者从甘肃省旅游局获悉,今年1~10月全省接待国内外游客9557万人次,实现旅游综合收入594.4亿元。预计2013年全省接待国内外游客1.01亿人次,实现旅游总收入610亿元。 据悉,今年甘肃省政府考核全省旅游工作的目标任务是:全省旅游接待人数、旅游收入增幅分别达到25%,旅游收入相当于GDP的比重达到8.94%。据此,甘肃省旅游工作会议确定今年实现的目标任务是:旅游接待人数9800万人次,旅游综合收入588亿元。1~10月全省接待国内外游客9557万人次,实现旅游综合收入594.4亿元,分别比上年同期增长28.2%和32.3%,均超过了省政府下达的25%的增长目标,1~9月全省旅游收入相当于GDP的比重已达到9.73%。预计2013年全省接待国内外游客1.01亿人次,实现旅游总收入610亿元,分别比上年增长29.1%、29.5%。 2014年甘肃省要继续加强组织实施《旅游法》,大力推进大景区建设,研究界定好大景区建设标准和内涵,认真组织编制大景区规划,同时把“农家乐旅游扶贫工程”列为2014年为民办实事项目。  

The post 甘肃省今年预计实现旅游总收入610亿元 appeared first on Brand TD.

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The post 甘肃省今年预计实现旅游总收入610亿元 appeared first on TD (Travel Daily Media) Brand TD.

记者从甘肃省旅游局获悉,今年1~10月全省接待国内外游客9557万人次,实现旅游综合收入594.4亿元。预计2013年全省接待国内外游客1.01亿人次,实现旅游总收入610亿元。

据悉,今年甘肃省政府考核全省旅游工作的目标任务是:全省旅游接待人数、旅游收入增幅分别达到25%,旅游收入相当于GDP的比重达到8.94%。据此,甘肃省旅游工作会议确定今年实现的目标任务是:旅游接待人数9800万人次,旅游综合收入588亿元。1~10月全省接待国内外游客9557万人次,实现旅游综合收入594.4亿元,分别比上年同期增长28.2%和32.3%,均超过了省政府下达的25%的增长目标,1~9月全省旅游收入相当于GDP的比重已达到9.73%。预计2013年全省接待国内外游客1.01亿人次,实现旅游总收入610亿元,分别比上年增长29.1%、29.5%。

2014年甘肃省要继续加强组织实施《旅游法》,大力推进大景区建设,研究界定好大景区建设标准和内涵,认真组织编制大景区规划,同时把“农家乐旅游扶贫工程”列为2014年为民办实事项目。

 

The post 甘肃省今年预计实现旅游总收入610亿元 appeared first on Brand TD.

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借助会展大事件效应 2013年成都会展业加速国际化 https://dev.traveldailymedia.com/jiezhuhuizhandashijianxiaoying2013nianchengdouhuizhanye/ Tue, 12 Nov 2013 09:14:14 +0000 http://www.traveldailychina.com/?p=1791 The post 借助会展大事件效应 2013年成都会展业加速国际化 appeared first on TD (Travel Daily Media) Brand TD.

2013年,在成都展会国际化历程中是标志性的一年。 日益频繁的国际性会展节庆活动的举办,助推成都会展业发展不断提速。数据显示,仅今年1-7月,成都就举办重大会展节庆活动247个,其中国际展览21个,同比增长15.9%;国际会议41个,同比增长24.2%。按目标规划,今年成都目标将举办重大会展节庆活动500个以上,办好超过80个重大展会项目;实现展览总面积280万平方米;实现会展业直接收入60亿元,间接收入500亿元。 成都市博览局局长母涛表示,借助会展大事件效应,成都会展业将进一步加快会展经济国际化和现代化,主要体现在两方面,一为会展相关硬件设施不断扩充与完善,另一为吸引更多国际会议组织单位进军成都,进一步建设具有国际影响力的中国会展名城,为成都打造西部经济核心增长极做出更大贡献。 据了解,成都除了成功举办财富全球论坛和第12届世界华商大会之外,今年还相继举办了第88届全国糖酒会、第11届中国国际软件合作洽谈会、第21届国际核工程大会、第35届国际水利学大会等一系列重大展会活动,会展大事件效应不断显现。 通过国际盛会的成功举办,成都亦不断升级各项会展硬件设施,完善国际会展服务,会展环境得到极大改善和提升。在硬件提升方面,今年9月新开业的成都新世纪环球中心,拥有1.2万平方米的的艺术中心展厅、8000平米的会议中心以及总客房数达到1000间的两家五星级酒店。此外,成都最为中国西部国际博览城已正式奠基,拟规划建设50万平方米国际展览展示中心、20万平方米国际会议中心。该博览城建成后是目前中西部地区最大的会展中心,也将作为中国西部国际博览会和中国西部国际合作论坛的永久会址。 越来越多的会展主办机构或会议组织者进军中国西部。今年4月,2013年中国汽车流通行业年会、中国国际纳米科技研讨会、口腔医学论坛三大项目集中签约落户成都。此外,全球第四大展览公司之一的科隆展览(中国)有限公司更与成都市博览局签署战略合作协议,将在设立分支机构、人员培训等方面与成都进行合作。今年5月,经国际大会及会议协会(ICCA)董事会研究决定,同意成都市博览局加入该机构,成都市博览局是中西部首个加入这一国际知名会议组织的政府机构。  

The post 借助会展大事件效应 2013年成都会展业加速国际化 appeared first on Brand TD.

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The post 借助会展大事件效应 2013年成都会展业加速国际化 appeared first on TD (Travel Daily Media) Brand TD.

2013年,在成都展会国际化历程中是标志性的一年。

日益频繁的国际性会展节庆活动的举办,助推成都会展业发展不断提速。数据显示,仅今年1-7月,成都就举办重大会展节庆活动247个,其中国际展览21个,同比增长15.9%;国际会议41个,同比增长24.2%。按目标规划,今年成都目标将举办重大会展节庆活动500个以上,办好超过80个重大展会项目;实现展览总面积280万平方米;实现会展业直接收入60亿元,间接收入500亿元。

成都市博览局局长母涛表示,借助会展大事件效应,成都会展业将进一步加快会展经济国际化和现代化,主要体现在两方面,一为会展相关硬件设施不断扩充与完善,另一为吸引更多国际会议组织单位进军成都,进一步建设具有国际影响力的中国会展名城,为成都打造西部经济核心增长极做出更大贡献。

据了解,成都除了成功举办财富全球论坛和第12届世界华商大会之外,今年还相继举办了第88届全国糖酒会、第11届中国国际软件合作洽谈会、第21届国际核工程大会、第35届国际水利学大会等一系列重大展会活动,会展大事件效应不断显现。

通过国际盛会的成功举办,成都亦不断升级各项会展硬件设施,完善国际会展服务,会展环境得到极大改善和提升。在硬件提升方面,今年9月新开业的成都新世纪环球中心,拥有1.2万平方米的的艺术中心展厅、8000平米的会议中心以及总客房数达到1000间的两家五星级酒店。此外,成都最为中国西部国际博览城已正式奠基,拟规划建设50万平方米国际展览展示中心、20万平方米国际会议中心。该博览城建成后是目前中西部地区最大的会展中心,也将作为中国西部国际博览会和中国西部国际合作论坛的永久会址。

越来越多的会展主办机构或会议组织者进军中国西部。今年4月,2013年中国汽车流通行业年会、中国国际纳米科技研讨会、口腔医学论坛三大项目集中签约落户成都。此外,全球第四大展览公司之一的科隆展览(中国)有限公司更与成都市博览局签署战略合作协议,将在设立分支机构、人员培训等方面与成都进行合作。今年5月,经国际大会及会议协会(ICCA)董事会研究决定,同意成都市博览局加入该机构,成都市博览局是中西部首个加入这一国际知名会议组织的政府机构。

 

The post 借助会展大事件效应 2013年成都会展业加速国际化 appeared first on Brand TD.

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展览业对香港经济贡献卓著 去年创造408亿港币商机 https://dev.traveldailymedia.com/zhanlanyeduixianggangjingjigongxianzhuozhuqunianchuangzao4/ Tue, 12 Nov 2013 09:08:03 +0000 http://www.traveldailychina.com/?p=1786 The post 展览业对香港经济贡献卓著 去年创造408亿港币商机 appeared first on TD (Travel Daily Media) Brand TD.

根据香港展览会议业协会发布的最新经济影响研究显示,香港的展览业,对香港的经济来说,影响重大,其价值上达数十亿美元。对此,香港旅游行业业者,对香港展览业的发展前景,纷纷表示潜力庞大,维持优势和继续发展是当前目标。 新研究显示,2012年,香港展览行业促使了408亿港币的实质消费,此数字从2010年增长了14%,并达成自2010年的6.7%的年复合成长率。同时,此数字也代表了香港整体国内生产总值的2%,是一个城市的强劲贡献行业。另一方面,展览业也带来其他重大经济效益。2012年的财政利益总额达港币14亿,展现自2010年以来13%的年复合年增长率。而财政利益是由政府透过工资、利润和机场税等向展览行业相关的人和公司获取。另外,展览业所产生的就业机会众多。2012年,展览业提供了69,600全职就业机会,展现自2010年的0.3%年复合增长率。 谈到新研究,香港展览会议业协会(HKECIA)主席Daniel Cheung表示,2010年到2012年是一个经济困难的时期,很高兴透过此份独立验证的新研究,看到香港展览业依然保持如此强劲。除了肯定香港展览业内部的健康,新研究也直接展现出香港更繁荣的前景。展览带给香港大量的商业机会,并吸引几百至几千位高消费旅客。展览业促进的消费和就业机会,不只是让展览业的成员,如场地经营商、展览组织者和独立承包商等受益,也帮助了酒店、零售、餐饮、广告及其他行业。总体来说,展览业发挥了重要的角色,不但巩固香港作为一个充满活力、适合商务差旅的国际城市形象,更是在维护香港作为一个全球性展览活动中心的地位。 面对持续增长的展览业,Daniel Cheung认为,不管经济情势如何,企业都将继续视香港为通往中国内地和其他亚洲市场的主要门户。新研究显示,香港的展览业,仍然拥有显着的优势,如操作简单和人性化的商业体制、地理位置、主要展览场地的非常高标准等。香港必须尽其所能,保持自己的竞争优势,以面对区域内的激烈竞争。 非常赞同香港展览业对香港扮演重要角色的香港中国旅行社商务会奖中心总经理计宪则指出,港中旅很早就看到商机,从2005年就专门设立了部门在做MICE业务,2010年更是正式成立了商务会奖中心。其实,展览业只是MICE的一部分,对香港来说,还是一个年轻的行业,未来发展潜力无穷。现在越来越多大型中国企业团队来香港举办推介会、办展、举行奖励旅游。特别是奖励旅游,一方面会用来奖励员工、加强团队精神,另一方面,也会以公关的形式,用来改善公司与客户之间的关系。从外国旅游的发展来看,MICE比例不断增长,会议、展览等规模和数量都不断成长,相信香港的MICE行业,包括展览业,都将越来越活跃。休闲旅游方面,中国旅客居多的自由行,也越来越迈向个性化发展。 据了解,经济影响研究,自2004年每两年举办一次,活动由香港展览会议业协会委托一家独立研究咨询机构–毕马威会计师事务所财务交易咨询服务有限公司(KPMG Transaction Advisory Services Limited)负责。    

The post 展览业对香港经济贡献卓著 去年创造408亿港币商机 appeared first on Brand TD.

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The post 展览业对香港经济贡献卓著 去年创造408亿港币商机 appeared first on TD (Travel Daily Media) Brand TD.

根据香港展览会议业协会发布的最新经济影响研究显示,香港的展览业,对香港的经济来说,影响重大,其价值上达数十亿美元。对此,香港旅游行业业者,对香港展览业的发展前景,纷纷表示潜力庞大,维持优势和继续发展是当前目标。

新研究显示,2012年,香港展览行业促使了408亿港币的实质消费,此数字从2010年增长了14%,并达成自2010年的6.7%的年复合成长率。同时,此数字也代表了香港整体国内生产总值的2%,是一个城市的强劲贡献行业。另一方面,展览业也带来其他重大经济效益。2012年的财政利益总额达港币14亿,展现自2010年以来13%的年复合年增长率。而财政利益是由政府透过工资、利润和机场税等向展览行业相关的人和公司获取。另外,展览业所产生的就业机会众多。2012年,展览业提供了69,600全职就业机会,展现自2010年的0.3%年复合增长率。

谈到新研究,香港展览会议业协会(HKECIA)主席Daniel Cheung表示,2010年到2012年是一个经济困难的时期,很高兴透过此份独立验证的新研究,看到香港展览业依然保持如此强劲。除了肯定香港展览业内部的健康,新研究也直接展现出香港更繁荣的前景。展览带给香港大量的商业机会,并吸引几百至几千位高消费旅客。展览业促进的消费和就业机会,不只是让展览业的成员,如场地经营商、展览组织者和独立承包商等受益,也帮助了酒店、零售、餐饮、广告及其他行业。总体来说,展览业发挥了重要的角色,不但巩固香港作为一个充满活力、适合商务差旅的国际城市形象,更是在维护香港作为一个全球性展览活动中心的地位。

面对持续增长的展览业,Daniel Cheung认为,不管经济情势如何,企业都将继续视香港为通往中国内地和其他亚洲市场的主要门户。新研究显示,香港的展览业,仍然拥有显着的优势,如操作简单和人性化的商业体制、地理位置、主要展览场地的非常高标准等。香港必须尽其所能,保持自己的竞争优势,以面对区域内的激烈竞争。

非常赞同香港展览业对香港扮演重要角色的香港中国旅行社商务会奖中心总经理计宪则指出,港中旅很早就看到商机,从2005年就专门设立了部门在做MICE业务,2010年更是正式成立了商务会奖中心。其实,展览业只是MICE的一部分,对香港来说,还是一个年轻的行业,未来发展潜力无穷。现在越来越多大型中国企业团队来香港举办推介会、办展、举行奖励旅游。特别是奖励旅游,一方面会用来奖励员工、加强团队精神,另一方面,也会以公关的形式,用来改善公司与客户之间的关系。从外国旅游的发展来看,MICE比例不断增长,会议、展览等规模和数量都不断成长,相信香港的MICE行业,包括展览业,都将越来越活跃。休闲旅游方面,中国旅客居多的自由行,也越来越迈向个性化发展。

据了解,经济影响研究,自2004年每两年举办一次,活动由香港展览会议业协会委托一家独立研究咨询机构–毕马威会计师事务所财务交易咨询服务有限公司(KPMG Transaction Advisory Services Limited)负责。

 

 

The post 展览业对香港经济贡献卓著 去年创造408亿港币商机 appeared first on Brand TD.

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美国运通与阿航Skywards常旅客计划达成合作 https://dev.traveldailymedia.com/meiguoyuntongyuahangskywardschanglvkejihuadacheng/ Mon, 11 Nov 2013 07:29:20 +0000 http://www.traveldailychina.com/?p=1707 The post 美国运通与阿航Skywards常旅客计划达成合作 appeared first on TD (Travel Daily Media) Brand TD.

美国运通宣布阿联酋航空Skywards常旅客计划将加入美国运通行业领先的会员奖励计划。已注册“会员奖励”计划的美国运通卡会员现可将积分转入阿联酋航空Skywards计划,兑换这家全球领先的航空公司Skywards里程。 根据此次推广活动相关规定,符合要求的运通卡会员只需阿联酋航空Skywards常旅客计划60000会员奖励积分,即可兑换肯尼迪国际机场至迪拜的经济舱往返机票。奖励机票涵盖阿联酋航空公司网络超过136个目的地。 美国运通客户服务总裁Josh Silverman表示:“阿联酋航空公司以服务和创新而闻名,这也是美国运通的两项核心价值观。将阿联酋航空公司Skywards常旅客计划纳入我们的会员奖励计划可帮助我们的全球运通卡会员开启通往中东、非洲、亚洲和欧洲的新旅程。” 阿联酋航空成为空中旅行的新标杆,在通往全球超过136个目的地的航班上提供一流服务和机内体验。阿联酋航空作为全球最年轻的机队之一,在美国的每周出港客机数为63架次,休斯顿、旧金山、达拉斯/沃斯堡、西雅图、华盛顿、洛杉矶和纽约等城市每日均有出港航班。阿联酋航空波士顿航线将于2014年3月10日起飞。此外,阿联酋航空还提供新的纽约至米兰直飞服务。 阿联酋航空执行副总裁兼首席商务官Thierry Antinori表示:“与美国运通建立联系有利于我们向运通卡会员提供搭乘阿联酋航空公司航班的一流体验,是公司发展的崭新里程碑。我们能够接触美国运通忠诚的持卡会员,为他们带去阿联酋航空丰富的常旅客飞行计划各项专属礼遇。” 屡获殊荣的阿联酋航空Skywards常旅客计划可用于积累和消费飞行里程,在阿联酋航空网络或合作伙伴航空公司、特定酒店、租车公司和零售合作伙伴享受升级服务。除了兑换里程和升级服务之外,Skywards里程还可用于兑换足球赛门票(包括纽约宇宙队比赛或美洲杯比赛等)。Skywards里程三年内有效,可随时兑换阿联酋航空机票(无日期限制)。 阿联酋航空会员奖励计划与达美航空、维珍航空、英国航空等16家著名航空公司合作,符合要求的持卡会员可使用会员奖励积分兑换机票和升级服务。  

The post 美国运通与阿航Skywards常旅客计划达成合作 appeared first on Brand TD.

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The post 美国运通与阿航Skywards常旅客计划达成合作 appeared first on TD (Travel Daily Media) Brand TD.

美国运通宣布阿联酋航空Skywards常旅客计划将加入美国运通行业领先的会员奖励计划。已注册“会员奖励”计划的美国运通卡会员现可将积分转入阿联酋航空Skywards计划,兑换这家全球领先的航空公司Skywards里程。

根据此次推广活动相关规定,符合要求的运通卡会员只需阿联酋航空Skywards常旅客计划60000会员奖励积分,即可兑换肯尼迪国际机场至迪拜的经济舱往返机票。奖励机票涵盖阿联酋航空公司网络超过136个目的地。

美国运通客户服务总裁Josh Silverman表示:“阿联酋航空公司以服务和创新而闻名,这也是美国运通的两项核心价值观。将阿联酋航空公司Skywards常旅客计划纳入我们的会员奖励计划可帮助我们的全球运通卡会员开启通往中东、非洲、亚洲和欧洲的新旅程。”

阿联酋航空成为空中旅行的新标杆,在通往全球超过136个目的地的航班上提供一流服务和机内体验。阿联酋航空作为全球最年轻的机队之一,在美国的每周出港客机数为63架次,休斯顿、旧金山、达拉斯/沃斯堡、西雅图、华盛顿、洛杉矶和纽约等城市每日均有出港航班。阿联酋航空波士顿航线将于2014年3月10日起飞。此外,阿联酋航空还提供新的纽约至米兰直飞服务。

阿联酋航空执行副总裁兼首席商务官Thierry Antinori表示:“与美国运通建立联系有利于我们向运通卡会员提供搭乘阿联酋航空公司航班的一流体验,是公司发展的崭新里程碑。我们能够接触美国运通忠诚的持卡会员,为他们带去阿联酋航空丰富的常旅客飞行计划各项专属礼遇。”

屡获殊荣的阿联酋航空Skywards常旅客计划可用于积累和消费飞行里程,在阿联酋航空网络或合作伙伴航空公司、特定酒店、租车公司和零售合作伙伴享受升级服务。除了兑换里程和升级服务之外,Skywards里程还可用于兑换足球赛门票(包括纽约宇宙队比赛或美洲杯比赛等)。Skywards里程三年内有效,可随时兑换阿联酋航空机票(无日期限制)。

阿联酋航空会员奖励计划与达美航空、维珍航空、英国航空等16家著名航空公司合作,符合要求的持卡会员可使用会员奖励积分兑换机票和升级服务。

 

The post 美国运通与阿航Skywards常旅客计划达成合作 appeared first on Brand TD.

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世界关注中国“双十一”网购狂欢 规模超过美国 https://dev.traveldailymedia.com/shijieguanzhuzhongguoshuangshiyiwanggoukuanghuanguiai/ Mon, 11 Nov 2013 05:33:07 +0000 http://www.traveldailychina.com/?p=1684 The post 世界关注中国“双十一”网购狂欢 规模超过美国 appeared first on TD (Travel Daily Media) Brand TD.

今年的“双十一购物节”让外界聚焦于中国热闹异常的电子商务产业。中国最大的电子商务公司阿里巴巴旗下淘宝网去年此时191亿元人民币的销售业绩已经令世界错愕,预计今年的销售额将达300亿元人民币。美国媒体感叹中国的“双十一”一天的销售规模已经赶超美国两大网上购物日,预计电子商务将助力中国在2015年成为全球最大的零售市场。 彭博社报道称,中国的网上商城开始在“双十一”推出各种破格的促销手段。淘宝网自2009年开始将每年11月11日的“光棍节”指定为“网购日”,并进行低至1折的网上商品打折活动,这引发中国网民的热捧。淘宝网已经宣布,将在11日对2万余个店铺的3万余种商品进行5折促销。京东商城则推出了无偿配送等优惠条件。 阿里巴巴集团董事局主席马云10月底预测,今年“双十一”集团旗下天猫和淘宝网的总销售额估计要突破300亿元。这个数字远远高于去年创下的191亿元销售额,相当于零售巨头沃尔玛去年在中国销售额的一半。 “今年的‘双十一’仍然会是阿里巴巴一家独大的局面,预计其他电商的全部销售额加起来也不及天猫和淘宝,这种局面短期内是无法改变的。” 中国电子商务研究中心主任曹磊10日向《环球时报》记者表示。但曹磊预计阿里巴巴今年的销售额增速会低于去年,除了基数原因,今年很多电商如京东、苏宁已经提前发起促销活动,透支了一部分消费力。此外,今年“双十一”是周一,而去年则是周日。 5年过去了,“双十一”已成长为世界最大的网购交易日。据称,当天参与网购的中国网民人数可能超过巴西全部人口。韩国《亚细亚经济》10日报道称,中国网购日的销售额全面超过美国感恩节。根据中国淘宝网的统计数字,去年11月11日的销售额高达31亿美元,这比美国年度最大的两个网上购物日——“黑色星期五”(感恩节之后的第一天)和“网络星期一”(感恩节之后的第一个星期一)的销售金额合起来还多。美国销售研究机构comScore数据称,2012年美国“网络星期一”在线零售额为15亿美元,“黑色星期五”的在线零售额为13亿美元。 普华永道9月预测,电子商务将帮助中国最早在2015年超越美国,成为全球最大的零售市场。据预测,中国网购规模到2015年可能达到5400亿美元,而届时美国的规模为3450亿美元。自2009年以后,中国网购市场规模每年增长70%,而美国仅为13%。 随着“双十一”购物节愈演愈烈,一些问题也逐渐暴露出来。目前,中国电子商务面临的最大挑战是快递的运力。物流业者为了可能出现的10倍以上的业务量增加,正增加30%的雇员以加快货物配送速度。为阿里巴巴送货的上海申通快递表示,该公司为应对“双十一”购物季,已经在15万快递员的基础上又雇佣4.5万名临时工。为增加运力,中国最大的民营快递公司顺丰上月底购入了一架波音757 运输机。天猫公司表示,其快递合作伙伴已经租用了100架飞机。 相比天猫上品牌商家对“双十一”的热衷,淘宝上一些小卖家更多是无奈。“这是大卖家的游戏,我们也想参加,但却不够资格,” 位于广东佛山的淘宝卖家陈先生10日向《环球时报》记者感叹。据他介绍,要参加淘宝“双十一”的促销,需要具备一定的店铺销量才能进入主会场。 “双十一”购物热潮显示中国的消费需求正在从传统商店转移到网络销售。彭博社数据称,中国去年网上零售额增长率从上一年的4.3%提高到6.3%,而市场份额居前100名的实体店增长率从11.2%下降到了9%。为此,很多实体店也纷纷加入“双十一”购物狂欢节,希望分得一杯羹。北京朝阳大悦城表示,自11月1日起至11月11日,全场商户将对消费者公开货品编号,消费者可以随意抄写,并到网上下单。  

The post 世界关注中国“双十一”网购狂欢 规模超过美国 appeared first on Brand TD.

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The post 世界关注中国“双十一”网购狂欢 规模超过美国 appeared first on TD (Travel Daily Media) Brand TD.

今年的“双十一购物节”让外界聚焦于中国热闹异常的电子商务产业。中国最大的电子商务公司阿里巴巴旗下淘宝网去年此时191亿元人民币的销售业绩已经令世界错愕,预计今年的销售额将达300亿元人民币。美国媒体感叹中国的“双十一”一天的销售规模已经赶超美国两大网上购物日,预计电子商务将助力中国在2015年成为全球最大的零售市场。

彭博社报道称,中国的网上商城开始在“双十一”推出各种破格的促销手段。淘宝网自2009年开始将每年11月11日的“光棍节”指定为“网购日”,并进行低至1折的网上商品打折活动,这引发中国网民的热捧。淘宝网已经宣布,将在11日对2万余个店铺的3万余种商品进行5折促销。京东商城则推出了无偿配送等优惠条件。

阿里巴巴集团董事局主席马云10月底预测,今年“双十一”集团旗下天猫和淘宝网的总销售额估计要突破300亿元。这个数字远远高于去年创下的191亿元销售额,相当于零售巨头沃尔玛去年在中国销售额的一半。

“今年的‘双十一’仍然会是阿里巴巴一家独大的局面,预计其他电商的全部销售额加起来也不及天猫和淘宝,这种局面短期内是无法改变的。” 中国电子商务研究中心主任曹磊10日向《环球时报》记者表示。但曹磊预计阿里巴巴今年的销售额增速会低于去年,除了基数原因,今年很多电商如京东、苏宁已经提前发起促销活动,透支了一部分消费力。此外,今年“双十一”是周一,而去年则是周日。

5年过去了,“双十一”已成长为世界最大的网购交易日。据称,当天参与网购的中国网民人数可能超过巴西全部人口。韩国《亚细亚经济》10日报道称,中国网购日的销售额全面超过美国感恩节。根据中国淘宝网的统计数字,去年11月11日的销售额高达31亿美元,这比美国年度最大的两个网上购物日——“黑色星期五”(感恩节之后的第一天)和“网络星期一”(感恩节之后的第一个星期一)的销售金额合起来还多。美国销售研究机构comScore数据称,2012年美国“网络星期一”在线零售额为15亿美元,“黑色星期五”的在线零售额为13亿美元。

普华永道9月预测,电子商务将帮助中国最早在2015年超越美国,成为全球最大的零售市场。据预测,中国网购规模到2015年可能达到5400亿美元,而届时美国的规模为3450亿美元。自2009年以后,中国网购市场规模每年增长70%,而美国仅为13%。

随着“双十一”购物节愈演愈烈,一些问题也逐渐暴露出来。目前,中国电子商务面临的最大挑战是快递的运力。物流业者为了可能出现的10倍以上的业务量增加,正增加30%的雇员以加快货物配送速度。为阿里巴巴送货的上海申通快递表示,该公司为应对“双十一”购物季,已经在15万快递员的基础上又雇佣4.5万名临时工。为增加运力,中国最大的民营快递公司顺丰上月底购入了一架波音757 运输机。天猫公司表示,其快递合作伙伴已经租用了100架飞机。

相比天猫上品牌商家对“双十一”的热衷,淘宝上一些小卖家更多是无奈。“这是大卖家的游戏,我们也想参加,但却不够资格,” 位于广东佛山的淘宝卖家陈先生10日向《环球时报》记者感叹。据他介绍,要参加淘宝“双十一”的促销,需要具备一定的店铺销量才能进入主会场。

“双十一”购物热潮显示中国的消费需求正在从传统商店转移到网络销售。彭博社数据称,中国去年网上零售额增长率从上一年的4.3%提高到6.3%,而市场份额居前100名的实体店增长率从11.2%下降到了9%。为此,很多实体店也纷纷加入“双十一”购物狂欢节,希望分得一杯羹。北京朝阳大悦城表示,自11月1日起至11月11日,全场商户将对消费者公开货品编号,消费者可以随意抄写,并到网上下单。

 

The post 世界关注中国“双十一”网购狂欢 规模超过美国 appeared first on Brand TD.

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美媒:来自荷兰的大黄鸭为中国经济下金蛋 https://dev.traveldailymedia.com/meimeilaizihelandedahuangyaweizhongguojingjixiajindan/ Wed, 06 Nov 2013 05:32:20 +0000 http://www.traveldailychina.com/?p=1509 The post 美媒:来自荷兰的大黄鸭为中国经济下金蛋 appeared first on TD (Travel Daily Media) Brand TD.

伊索寓言中有下金蛋的鹅的故事,但在荷兰艺术家弗洛伦泰因·霍夫曼的帮助下,中国似乎改变了故事情节。 过去6个月,任何住在中国或关注中国的人都会很熟悉霍夫曼先生的大黄鸭。自5月以来,多个版本的塑料充气大黄鸭出现在香港、台湾、北京以及亚洲各地无数商场和纪念品商店。 大黄鸭的无处不在让越来越多人对它心怀怨恨。但在北京,它受到大众如此热烈的欢迎,官员们只能卖力计算它带来的经济效益。 组织方表示,短短52天里,超过300万人拥入颐和园和园博园看这个高18米的塑料鸭子。在展出的最后一天,约7万人为它送行。而大黄鸭什么都不用做,只需静静飘浮在水面上,显得“上镜”即可。 大黄鸭为北京带来约2亿元人民币的收入。也许并非每个人都是专门去看大黄鸭的,但有它在也无伤大雅。颐和园在大黄鸭驻留期间接待的游客达200万,比上年同期增长30%。此外,塑料鸭子衍生玩具的销售收入也达到700万元人民币。 一些网友质疑,为大黄鸭收高价门票是否合适。还有人表示,北京展出的大黄鸭看起来比香港展出的廉价。也有人质疑这种活动是彻头彻尾的商业行为——“为什么在香港是免费的?” 最重要的还是数字。如果目的在于通过零售消费刺激经济增长,大黄鸭把这个任务完成得很出色。也许,这是努力寻找新的经济增长点的开端。下一个(增长点)在哪?大熊猫?(  

The post 美媒:来自荷兰的大黄鸭为中国经济下金蛋 appeared first on Brand TD.

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The post 美媒:来自荷兰的大黄鸭为中国经济下金蛋 appeared first on TD (Travel Daily Media) Brand TD.

伊索寓言中有下金蛋的鹅的故事,但在荷兰艺术家弗洛伦泰因·霍夫曼的帮助下,中国似乎改变了故事情节。

过去6个月,任何住在中国或关注中国的人都会很熟悉霍夫曼先生的大黄鸭。自5月以来,多个版本的塑料充气大黄鸭出现在香港、台湾、北京以及亚洲各地无数商场和纪念品商店。

大黄鸭的无处不在让越来越多人对它心怀怨恨。但在北京,它受到大众如此热烈的欢迎,官员们只能卖力计算它带来的经济效益。

组织方表示,短短52天里,超过300万人拥入颐和园和园博园看这个高18米的塑料鸭子。在展出的最后一天,约7万人为它送行。而大黄鸭什么都不用做,只需静静飘浮在水面上,显得“上镜”即可。

大黄鸭为北京带来约2亿元人民币的收入。也许并非每个人都是专门去看大黄鸭的,但有它在也无伤大雅。颐和园在大黄鸭驻留期间接待的游客达200万,比上年同期增长30%。此外,塑料鸭子衍生玩具的销售收入也达到700万元人民币。

一些网友质疑,为大黄鸭收高价门票是否合适。还有人表示,北京展出的大黄鸭看起来比香港展出的廉价。也有人质疑这种活动是彻头彻尾的商业行为——“为什么在香港是免费的?”

最重要的还是数字。如果目的在于通过零售消费刺激经济增长,大黄鸭把这个任务完成得很出色。也许,这是努力寻找新的经济增长点的开端。下一个(增长点)在哪?大熊猫?(

 

The post 美媒:来自荷兰的大黄鸭为中国经济下金蛋 appeared first on Brand TD.

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日本游客骤减 韩紧急援助旅游业界五百余万元 https://dev.traveldailymedia.com/ribenyoukezhoujianhanjinjiyuanzhulvyouyejiewubaiyuwanyuan/ Thu, 24 Oct 2013 03:46:38 +0000 http://www.traveldailychina.com/?p=918 The post 日本游客骤减 韩紧急援助旅游业界五百余万元 appeared first on TD (Travel Daily Media) Brand TD.

据韩联社10月24日消息,随着访韩日本游客骤减,主要客户为日本游客的韩国旅行社经营面临困境,韩国政府决定向旅游业界提供10亿韩元(约合人民币575.8万元)的资金援助。 据韩国文化体育观光部与韩国旅游业协会24日消息,韩国政府将向接待日本游客的42家旅行社提供9.95亿韩元的资金,用于广告宣传。接受资金援助的对象为2011-2012年间每年吸引日本游客超过1千人以上的优秀旅行社中近10个月日本客源剧减的旅行社。游客减幅达40%以上的19家旅行社可获得3000万韩元的援助,减幅30%以上的10家旅行社、10%以上的4家旅行社将分别获得2500万韩元和1500万韩元的援助。 韩国旅游业协会负责人表示,访韩日本游客锐减造成旅行社经营困难,业界希望能再次大力吸引日本游客访韩,为国内旅游业注入活力,韩国政府也对此表示了同感。 受日元贬值和朝核危机等影响,日本游客从2012年下半年开始锐减,2013年前三季度同比减少25.5%,仅200万人次。面向日本游客的旅行社也陷入困境,不得不进行结构调整或暂时停业,因此韩国旅游业协会于今年4月向政府提出援助要求。  

The post 日本游客骤减 韩紧急援助旅游业界五百余万元 appeared first on Brand TD.

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The post 日本游客骤减 韩紧急援助旅游业界五百余万元 appeared first on TD (Travel Daily Media) Brand TD.

据韩联社10月24日消息,随着访韩日本游客骤减,主要客户为日本游客的韩国旅行社经营面临困境,韩国政府决定向旅游业界提供10亿韩元(约合人民币575.8万元)的资金援助。

据韩国文化体育观光部与韩国旅游业协会24日消息,韩国政府将向接待日本游客的42家旅行社提供9.95亿韩元的资金,用于广告宣传。接受资金援助的对象为2011-2012年间每年吸引日本游客超过1千人以上的优秀旅行社中近10个月日本客源剧减的旅行社。游客减幅达40%以上的19家旅行社可获得3000万韩元的援助,减幅30%以上的10家旅行社、10%以上的4家旅行社将分别获得2500万韩元和1500万韩元的援助。

韩国旅游业协会负责人表示,访韩日本游客锐减造成旅行社经营困难,业界希望能再次大力吸引日本游客访韩,为国内旅游业注入活力,韩国政府也对此表示了同感。

受日元贬值和朝核危机等影响,日本游客从2012年下半年开始锐减,2013年前三季度同比减少25.5%,仅200万人次。面向日本游客的旅行社也陷入困境,不得不进行结构调整或暂时停业,因此韩国旅游业协会于今年4月向政府提出援助要求。

 

The post 日本游客骤减 韩紧急援助旅游业界五百余万元 appeared first on Brand TD.

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去哪儿网下月初赴美挂牌上市 最多融资1.47亿美元 https://dev.traveldailymedia.com/qunaerwangxiayuechufumeiguapaishangshizuiduorongzi147yimeiyuan/ Wed, 23 Oct 2013 06:40:48 +0000 http://www.traveldailychina.com/?p=882 The post 去哪儿网下月初赴美挂牌上市 最多融资1.47亿美元 appeared first on TD (Travel Daily Media) Brand TD.

       伴随着58同城和去哪儿网上市临近,中国互联网公司将迎来一轮新的赴美上市热潮。昨天记者证实,百度旗下旅游预订服务去哪儿(NYSE:QUNR) 将于美国东部时间11月1日在纽约股票交易所挂牌上市。   去哪儿10月1日向美国证券交易委员会(SEC)提交了IPO(首次公开招股)招股书。招股书显示,去哪儿计划登陆纽交所,股票交易代码为“QUNR”,IPO价格区间为每份ADS9.5至11.5美元,最多融资1.47亿美元。   招股书显示,去哪儿2012年总营收为人民币5.02亿元,2011年为2.62亿元,2010年为1.23亿元;2012年净亏损为人民币9110万元,2011年为4600万元,2010年为440万元。   个人持股方面,去哪儿的高管及董事总持股量约为7146万股,比例约为23.37%。机构投资者中,百度现为去哪儿最大股东,持股61.05%。   去哪儿表示,将把上市收益用于技术改进、基础设施建设和产品开发投资,用于扩大销售和营销团队,以及一般企业用途,如流动资本需求和潜在的并购交易等,但目前并未就任何并购交易展开谈判。(  

The post 去哪儿网下月初赴美挂牌上市 最多融资1.47亿美元 appeared first on Brand TD.

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The post 去哪儿网下月初赴美挂牌上市 最多融资1.47亿美元 appeared first on TD (Travel Daily Media) Brand TD.

       伴随着58同城和去哪儿网上市临近,中国互联网公司将迎来一轮新的赴美上市热潮。昨天记者证实,百度旗下旅游预订服务去哪儿(NYSE:QUNR) 将于美国东部时间11月1日在纽约股票交易所挂牌上市。

  去哪儿10月1日向美国证券交易委员会(SEC)提交了IPO(首次公开招股)招股书。招股书显示,去哪儿计划登陆纽交所,股票交易代码为“QUNR”,IPO价格区间为每份ADS9.5至11.5美元,最多融资1.47亿美元。

  招股书显示,去哪儿2012年总营收为人民币5.02亿元,2011年为2.62亿元,2010年为1.23亿元;2012年净亏损为人民币9110万元,2011年为4600万元,2010年为440万元。

  个人持股方面,去哪儿的高管及董事总持股量约为7146万股,比例约为23.37%。机构投资者中,百度现为去哪儿最大股东,持股61.05%。

  去哪儿表示,将把上市收益用于技术改进、基础设施建设和产品开发投资,用于扩大销售和营销团队,以及一般企业用途,如流动资本需求和潜在的并购交易等,但目前并未就任何并购交易展开谈判。(

 

The post 去哪儿网下月初赴美挂牌上市 最多融资1.47亿美元 appeared first on Brand TD.

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菲律宾黑赌场骗中国客 借生意设套“没收”护照 https://dev.traveldailymedia.com/feilvbinheiduchangpianzhongguokejieshengyishetaomeishouhuzhao/ Tue, 22 Oct 2013 07:03:19 +0000 http://www.traveldailychina.com/?p=843 The post 菲律宾黑赌场骗中国客 借生意设套“没收”护照 appeared first on TD (Travel Daily Media) Brand TD.

近日,中国驻菲律宾使馆称,在菲律宾发生数起中国公民赴菲赌博,因欠巨额赌债被扣,导致人身财产安全受损案件。而此类赌场以中国公民为主要客源,赌场“经纪人”以赴菲合伙经商、公司招工为诱饵,在中国境内诱骗中国公民出境参赌。 外交部领事司及中国驻菲律宾使馆提醒中国公民拒绝赴菲参赌,避免上当受骗,防止生命财产安全受到威胁。 隐秘赌场吸引中国客 菲律宾人弗里茨接受记者采访时称,在当地,并不是所有赌博场所都是合法的,通常只有在酒店里面设立的专门赌场才是合法的,其他独立的小赌场多是非法的,而且一般非常隐秘,连当地人都知之甚少。 弗里茨说,经营这些赌场的人,通过自己的渠道联系上来菲旅游的华人旅行团,吸引“客户”前来赌博。 “欠赌债被扣押的事在各个赌场都会发生。赌场会扣押欠债人的物品,例如名表、豪车等等,让对方取钱来赎。”他说,如果欠钱太多,就不得不扣留本人,让其亲朋好友来交钱赎人。 20日上午,中国驻拉瓦格总领馆一名不愿透露姓名的工作人员称,赌博在菲律宾是合法的,因此赌债也是有法律效力的。一个欠赌债的人很难离开菲律宾。 “即使在合法的赌场,也有很多非法的团体和犯罪团伙牵涉其中,很难保证安全。”这位工作人员称,菲律宾许多大型赌场就是以中国人和当地有钱人作为主要目标客户。 借生意设套“没收”护照 今年6月,一名中年男子来到了中国驻拉瓦格总领馆,说护照丢了,要办一个旅行证明。不过随后这名男子改口,说自己的护照是被人骗走的。 他说,几天前一个商人邀请他来菲律宾视察一个旅游公司,于是自己和朋友一同前往。结果这位商人拿走了他的护照,说自己会替他保管,然后带他来到了圣安娜的一家赌场。 “尽管我说没钱赌博,但该男子主动借给了一些。没想到最后还不上了,自己还被关押了好多天。”他说。 菲华联谊总会理事长洪女士告诉记者,就在几个月前,菲律宾北部刚刚发生了一起类似的事情。赌客基本都是中国内地来的,在输光身上所有财物后人就被扣押了,护照也被没收。 开赌场者并非本地人 洪女士告诉记者,在菲律宾北部有一些中国大陆或者香港人开的赌场。而这些赌场都开在很偏僻的郊区,一方面能躲避人们的视线,另一方面让欠债的赌客不容易逃走。 这些赌场通常都有很硬的后台撑腰。“几个月前出事的那家北部赌场,其倚靠的是当地一个议员,势力很大。”洪女士说,当初还发生这样一件事,这些赌客被放出来以后把事情捅到了媒体,电视台、报纸都大篇幅报道,警方随后查封了赌场。然而赌场老板后来花了一大笔钱就将此事解决了。 菲律宾中华总商会负责媒体的王经理告诉记者,在菲律宾有许多合法的赌博场所,这些赌场都设有所谓的贵宾厅,通常都是一些很有门路、有头脸的人在经营。他们一般不是本地人,多是来自香港的。 “他们有门路,会包机去找客源。而来赌博输了的人一般都很难脱身。因为管理贵宾厅的人都不是简单的角色,不会这么轻易放人。”王经理说。

The post 菲律宾黑赌场骗中国客 借生意设套“没收”护照 appeared first on Brand TD.

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The post 菲律宾黑赌场骗中国客 借生意设套“没收”护照 appeared first on TD (Travel Daily Media) Brand TD.

近日,中国驻菲律宾使馆称,在菲律宾发生数起中国公民赴菲赌博,因欠巨额赌债被扣,导致人身财产安全受损案件。而此类赌场以中国公民为主要客源,赌场“经纪人”以赴菲合伙经商、公司招工为诱饵,在中国境内诱骗中国公民出境参赌。

外交部领事司及中国驻菲律宾使馆提醒中国公民拒绝赴菲参赌,避免上当受骗,防止生命财产安全受到威胁。

隐秘赌场吸引中国客

菲律宾人弗里茨接受记者采访时称,在当地,并不是所有赌博场所都是合法的,通常只有在酒店里面设立的专门赌场才是合法的,其他独立的小赌场多是非法的,而且一般非常隐秘,连当地人都知之甚少。

弗里茨说,经营这些赌场的人,通过自己的渠道联系上来菲旅游的华人旅行团,吸引“客户”前来赌博。

“欠赌债被扣押的事在各个赌场都会发生。赌场会扣押欠债人的物品,例如名表、豪车等等,让对方取钱来赎。”他说,如果欠钱太多,就不得不扣留本人,让其亲朋好友来交钱赎人。

20日上午,中国驻拉瓦格总领馆一名不愿透露姓名的工作人员称,赌博在菲律宾是合法的,因此赌债也是有法律效力的。一个欠赌债的人很难离开菲律宾。

“即使在合法的赌场,也有很多非法的团体和犯罪团伙牵涉其中,很难保证安全。”这位工作人员称,菲律宾许多大型赌场就是以中国人和当地有钱人作为主要目标客户。

借生意设套“没收”护照

今年6月,一名中年男子来到了中国驻拉瓦格总领馆,说护照丢了,要办一个旅行证明。不过随后这名男子改口,说自己的护照是被人骗走的。

他说,几天前一个商人邀请他来菲律宾视察一个旅游公司,于是自己和朋友一同前往。结果这位商人拿走了他的护照,说自己会替他保管,然后带他来到了圣安娜的一家赌场。

“尽管我说没钱赌博,但该男子主动借给了一些。没想到最后还不上了,自己还被关押了好多天。”他说。

菲华联谊总会理事长洪女士告诉记者,就在几个月前,菲律宾北部刚刚发生了一起类似的事情。赌客基本都是中国内地来的,在输光身上所有财物后人就被扣押了,护照也被没收。

开赌场者并非本地人

洪女士告诉记者,在菲律宾北部有一些中国大陆或者香港人开的赌场。而这些赌场都开在很偏僻的郊区,一方面能躲避人们的视线,另一方面让欠债的赌客不容易逃走。

这些赌场通常都有很硬的后台撑腰。“几个月前出事的那家北部赌场,其倚靠的是当地一个议员,势力很大。”洪女士说,当初还发生这样一件事,这些赌客被放出来以后把事情捅到了媒体,电视台、报纸都大篇幅报道,警方随后查封了赌场。然而赌场老板后来花了一大笔钱就将此事解决了。

菲律宾中华总商会负责媒体的王经理告诉记者,在菲律宾有许多合法的赌博场所,这些赌场都设有所谓的贵宾厅,通常都是一些很有门路、有头脸的人在经营。他们一般不是本地人,多是来自香港的。

“他们有门路,会包机去找客源。而来赌博输了的人一般都很难脱身。因为管理贵宾厅的人都不是简单的角色,不会这么轻易放人。”王经理说。

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Merlin prepares stock float https://dev.traveldailymedia.com/merlin-prepares-stock-float/ Mon, 21 Oct 2013 09:23:51 +0000 http://www.traveldailymedia.com/?p=199044 The post Merlin prepares stock float appeared first on TD (Travel Daily Media) Brand TD.

Merlin Entertainments, the firm behind Legoland, Alton Towers and Madame Tussauds is planning on going public. The company, which is the second biggest attraction operator in the world behind Walt Disney, operates 99 attractions in 22 countries. According to the BBC, Merlin has a turnover of around GBP1 billion a year and has been valued […]

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The post Merlin prepares stock float appeared first on TD (Travel Daily Media) Brand TD.

Legoland Malaysia will open on 15 September
Merlin has attractions around the world

Merlin Entertainments, the firm behind Legoland, Alton Towers and Madame Tussauds is planning on going public.

The company, which is the second biggest attraction operator in the world behind Walt Disney, operates 99 attractions in 22 countries.

According to the BBC, Merlin has a turnover of around GBP1 billion a year and has been valued at around GBP3 billion.

The company intends to sell off a 20% stake to public investors, with a minimum investment of GBP1,000.

The company’s non-executive chairman, Sir John Sunderland, said: “I have been impressed by the significant growth that Merlin has delivered as a private company.

“But there is more to come and I believe Merlin has a very promising future as a publicly listed company.”

Shareholders will get a 30% discount to entry into attractions.

Nick Varney, chief executive officer of Merlin, added: “Merlin Entertainments comes to the market with a consistent record of strong growth in both revenues and profits and bright prospects for the future. We have successfully followed a clear and proven strategy to build a high-growth international family entertainment business, built on strong brands and a portfolio of attractions balanced by geographies, products and demographics. Our very strong trading performance so far this year, with revenues over 11% ahead of 2012, is a further reflection of this.

“Delivering memorable experiences to our millions of visitors is our passion and we see a world of opportunity ahead of us. Our experienced team has the ability and ambition to deliver on our plans, as we develop our existing businesses and roll out Merlin’s unique portfolio of leisure brands internationally. The IPO will provide Merlin with the platform for our next stage of development and allow us to plan for the longer term. As such we are very excited about this next chapter of our story, and look forward to creating value for our shareholders and more magic for our customers.”

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2011.07.06_LEGOLANDAAA_.jpg Legoland Malaysia will open on 15 September
海南航空拟11亿购买天津航空14%股权 https://dev.traveldailymedia.com/hainanhangkongni11yigoumaitianjinhangkong14guquan/ Mon, 21 Oct 2013 03:17:11 +0000 http://www.traveldailychina.com/?p=746 The post 海南航空拟11亿购买天津航空14%股权 appeared first on TD (Travel Daily Media) Brand TD.

海南航空10月18日晚间公告,公司拟以现金10.93亿受让海航集团持有的天津航空有限责任公司13.95%股权(7.81亿股)。受让完成后,公司与天航控股有限责任公司、天津保税区投资有限公司的持有天津航空股权比例分别为44.65%、51.78%、3.57%。公司称,此举为进一步履行解决可能存在或潜在的同业竞争的承诺,同时公司为拓展主营业务规模,增强主营业务竞争力。 另外,海南航空拟以位于海口市海秀路29号的海航发展大厦23,480.94平方米房产加现金9.02亿元为出资成立海南海岛航翔投资开发有限公司。海口新城区建设开发有限公司以位于海口市美兰区国兴大道7号海航大厦4层至11层、19层和地下负三层,共计41,257.46平方米的房产加现金20,000万元为出资成立海南福顺投资开发有限公司。公司以持有的海岛航翔100%股权置换新城区公司持有的海南福顺100%股权。 此外,海南航空将发行5年期40亿元非公开定向债务融资工具,用于优化公司债务结构,偿还公司债务,补充流动资金。  

The post 海南航空拟11亿购买天津航空14%股权 appeared first on Brand TD.

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The post 海南航空拟11亿购买天津航空14%股权 appeared first on TD (Travel Daily Media) Brand TD.

海南航空10月18日晚间公告,公司拟以现金10.93亿受让海航集团持有的天津航空有限责任公司13.95%股权(7.81亿股)。受让完成后,公司与天航控股有限责任公司、天津保税区投资有限公司的持有天津航空股权比例分别为44.65%、51.78%、3.57%。公司称,此举为进一步履行解决可能存在或潜在的同业竞争的承诺,同时公司为拓展主营业务规模,增强主营业务竞争力。

另外,海南航空拟以位于海口市海秀路29号的海航发展大厦23,480.94平方米房产加现金9.02亿元为出资成立海南海岛航翔投资开发有限公司。海口新城区建设开发有限公司以位于海口市美兰区国兴大道7号海航大厦4层至11层、19层和地下负三层,共计41,257.46平方米的房产加现金20,000万元为出资成立海南福顺投资开发有限公司。公司以持有的海岛航翔100%股权置换新城区公司持有的海南福顺100%股权。

此外,海南航空将发行5年期40亿元非公开定向债务融资工具,用于优化公司债务结构,偿还公司债务,补充流动资金。

 

The post 海南航空拟11亿购买天津航空14%股权 appeared first on Brand TD.

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MCR巨资收购26家万豪和希尔顿酒店 https://dev.traveldailymedia.com/mcrjuzishougou26jiawanhaohexierdunjiudian/ Mon, 21 Oct 2013 02:51:50 +0000 http://www.traveldailychina.com/?p=742 The post MCR巨资收购26家万豪和希尔顿酒店 appeared first on TD (Travel Daily Media) Brand TD.

10月19日,MCR Development LLC宣布,该公司已以4.3亿美元的价格从Western International手里收购了26家万豪(Marriott)和希尔顿(Hilton)酒店。 MCR将拥有并管理所有26家酒店,每家酒店都将继续做为分别的万豪和希尔顿品牌附属机构运营,拥有长期特许经营协议。 MCR Development首席执行官Tyler Morse表示:“我们很高兴能够拓展与万豪和希尔顿品牌系列的合作关系。Western International酒店的标准非常高,并在竞争中脱颖而出。这项投资可为我们的团队成员和公司带来巨大的增长机会,拓展至新市场以及继续为投资者带来高回报。” 该收购组合包括四个州的3002间客房,平均运营时间约为四年。  

The post MCR巨资收购26家万豪和希尔顿酒店 appeared first on Brand TD.

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The post MCR巨资收购26家万豪和希尔顿酒店 appeared first on TD (Travel Daily Media) Brand TD.

10月19日,MCR Development LLC宣布,该公司已以4.3亿美元的价格从Western International手里收购了26家万豪(Marriott)和希尔顿(Hilton)酒店。

MCR将拥有并管理所有26家酒店,每家酒店都将继续做为分别的万豪和希尔顿品牌附属机构运营,拥有长期特许经营协议。

MCR Development首席执行官Tyler Morse表示:“我们很高兴能够拓展与万豪和希尔顿品牌系列的合作关系。Western International酒店的标准非常高,并在竞争中脱颖而出。这项投资可为我们的团队成员和公司带来巨大的增长机会,拓展至新市场以及继续为投资者带来高回报。”

该收购组合包括四个州的3002间客房,平均运营时间约为四年。

 

The post MCR巨资收购26家万豪和希尔顿酒店 appeared first on Brand TD.

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拉萨五星酒店稀缺 融资渠道成发展瓶颈 https://dev.traveldailymedia.com/lasawuxingjiudianxiquerongziqudaochengfazhanpingjing/ Wed, 16 Oct 2013 08:19:28 +0000 http://www.traveldailychina.com/?p=569 The post 拉萨五星酒店稀缺 融资渠道成发展瓶颈 appeared first on TD (Travel Daily Media) Brand TD.

记者从拉萨相关部门提供的一份统计数据中了解到,2008年,西藏旅游总接待量为200万人次,旅游业总收入为22.4亿元。 而2012年,西藏旅游总接待量为1058万人次,旅游业总收入为126.47亿元。经过短短5年的发展,这两项数据均达到了五年前的5倍以上,由此可见西藏旅游业发展的速度之快。 据了解,拉萨作为西藏旅游的核心集散地,每年的旅游接待量和旅游收入均占全区的70以上,日人流量已达到35000人次。旅游接待量的增长势必需要相关的酒店配套与之匹配。据业内人士介绍,目前拉萨酒店床位的需求量在30000个以上,按照来藏游客消费结构分析,其中五星级酒店床位的需求至少应为2800个。且这个需求在未来几年内,还将以每年15的速度上浮。然而目前,拉萨仅有五星级酒店2家,套房300余间,床位不足500个,很难满足高端游客的住宿需求。 五星级酒店资源的稀缺导致不少高端游客只能退而求其次,选择商务酒店等入住。业内人士分析称,保守估计每天在拉萨降档入住游客所需的房间数为200间,降档后价格与入住五星级酒店的差价为1500元/间,每年以旅游旺季200天计算,那么拉萨酒店业每年仅住宿收入就将减少6000万元。如果再把游客入住五星级酒店后的相关消费计算在内,这个数字将变得更大。 融资渠道成发展瓶颈 记者通过对拉萨现有两家五星级酒店的走访了解到,拉萨旅游旺季五星级酒店标准套房的均价为4800元/天。此种套房虽然价格不菲,但在旅游旺季仍呈现出一房难求的态势。 由此可见,在拉萨开发经营五星级酒店投资价值巨大。就此,不少业内人士纷纷表示,并非没人看到五星级酒店业蕴藏的巨大商机,只是因为建设五星级酒店投资额度巨大,而大多数企业又缺乏强势、有效的融资渠道,因此,拉萨的五星级酒店在数量上发展相当缓慢。 记者了解到,在内地的商业地产界,开发商通过吸引大量中小投资者购买部分物业产权的融资方式已经非常普遍。即中小投资者通过购买的形式享有某商业地产的部分产权,该商业地产投入营运后,经营者每年按照一定的比例以租金的形式向投资者进行返利回报。当投资者不再想享有该商业地产的物业产权时,商业地产的经营方可对产权进行回购。回购过程中,投资者不但能得到当时购买物业产权时所付的本金,还能得到与购买年限相关的物业增值。 据业内人士介绍,上述融资模式是一种开发商与投资者双赢的运作模式。开发商得到的是商业地产的营运收益,而投资者得到的是租金形式的收益和产权的增值。据介绍,目前在拉萨,鸿运家具城、神力时代广场等商业地产在融资建设中已经使用了类似的模式,并在后期营运中初获成功。目前,位于柳梧新区世纪大道的德天城市名人酒店正在建设中,据悉,这将是拉萨乃至西藏第一座以通过上述方式融资的投资型五星级酒店。 投资型酒店收益可观 现下,可供市民选择的投资方式可谓林林总总,通过购买产权做五星级酒店的“房东”对投资者而言优势何在?就此,记者采访了德天城市名人酒店客户经理齐峰。齐峰表示,目前拉萨五星级酒店供不应求的态势决定了酒店营运后经营方的效益,而经营方的效益则是投资者收益的有力保障。其次,酒店对投资者采取每年固定比例返利和每三年可增值回购相结合的回报方式,既保证了投资者稳定的收益,又使投资者的资金具有了一定的可流动性。 齐峰以投资者出资50万元购买酒店部分产权为例为记者计算了投资者15年的预期投资回报。据介绍,投资者购买产权后,第1-5年每年的回报率为8即40000元,第6-10年每年的回报率为8.5即42500元,第11-15年每年的回报率为9即45000元。如此算来,15年的总回报为637500元。如果把这些钱全部存进银行,15年的孳息为270000元。15年后,如果投资者选择让经营方回购产权,物业增值后的产权价值为575000元。此外,购买产权的投资者每天还可享受在该酒店1500元/天的标准套房内5天的免费住宿,其15年的合计金额为112500元。综上所述,投资者投资50万元15年间的总收益为1095000元,总收益率为219,年平均收益率为14.6,收益相当可观。  

The post 拉萨五星酒店稀缺 融资渠道成发展瓶颈 appeared first on Brand TD.

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The post 拉萨五星酒店稀缺 融资渠道成发展瓶颈 appeared first on TD (Travel Daily Media) Brand TD.

记者从拉萨相关部门提供的一份统计数据中了解到,2008年,西藏旅游总接待量为200万人次,旅游业总收入为22.4亿元。

而2012年,西藏旅游总接待量为1058万人次,旅游业总收入为126.47亿元。经过短短5年的发展,这两项数据均达到了五年前的5倍以上,由此可见西藏旅游业发展的速度之快。

据了解,拉萨作为西藏旅游的核心集散地,每年的旅游接待量和旅游收入均占全区的70以上,日人流量已达到35000人次。旅游接待量的增长势必需要相关的酒店配套与之匹配。据业内人士介绍,目前拉萨酒店床位的需求量在30000个以上,按照来藏游客消费结构分析,其中五星级酒店床位的需求至少应为2800个。且这个需求在未来几年内,还将以每年15的速度上浮。然而目前,拉萨仅有五星级酒店2家,套房300余间,床位不足500个,很难满足高端游客的住宿需求。

五星级酒店资源的稀缺导致不少高端游客只能退而求其次,选择商务酒店等入住。业内人士分析称,保守估计每天在拉萨降档入住游客所需的房间数为200间,降档后价格与入住五星级酒店的差价为1500元/间,每年以旅游旺季200天计算,那么拉萨酒店业每年仅住宿收入就将减少6000万元。如果再把游客入住五星级酒店后的相关消费计算在内,这个数字将变得更大。

融资渠道成发展瓶颈

记者通过对拉萨现有两家五星级酒店的走访了解到,拉萨旅游旺季五星级酒店标准套房的均价为4800元/天。此种套房虽然价格不菲,但在旅游旺季仍呈现出一房难求的态势。

由此可见,在拉萨开发经营五星级酒店投资价值巨大。就此,不少业内人士纷纷表示,并非没人看到五星级酒店业蕴藏的巨大商机,只是因为建设五星级酒店投资额度巨大,而大多数企业又缺乏强势、有效的融资渠道,因此,拉萨的五星级酒店在数量上发展相当缓慢。

记者了解到,在内地的商业地产界,开发商通过吸引大量中小投资者购买部分物业产权的融资方式已经非常普遍。即中小投资者通过购买的形式享有某商业地产的部分产权,该商业地产投入营运后,经营者每年按照一定的比例以租金的形式向投资者进行返利回报。当投资者不再想享有该商业地产的物业产权时,商业地产的经营方可对产权进行回购。回购过程中,投资者不但能得到当时购买物业产权时所付的本金,还能得到与购买年限相关的物业增值。

据业内人士介绍,上述融资模式是一种开发商与投资者双赢的运作模式。开发商得到的是商业地产的营运收益,而投资者得到的是租金形式的收益和产权的增值。据介绍,目前在拉萨,鸿运家具城、神力时代广场等商业地产在融资建设中已经使用了类似的模式,并在后期营运中初获成功。目前,位于柳梧新区世纪大道的德天城市名人酒店正在建设中,据悉,这将是拉萨乃至西藏第一座以通过上述方式融资的投资型五星级酒店。

投资型酒店收益可观

现下,可供市民选择的投资方式可谓林林总总,通过购买产权做五星级酒店的“房东”对投资者而言优势何在?就此,记者采访了德天城市名人酒店客户经理齐峰。齐峰表示,目前拉萨五星级酒店供不应求的态势决定了酒店营运后经营方的效益,而经营方的效益则是投资者收益的有力保障。其次,酒店对投资者采取每年固定比例返利和每三年可增值回购相结合的回报方式,既保证了投资者稳定的收益,又使投资者的资金具有了一定的可流动性。

齐峰以投资者出资50万元购买酒店部分产权为例为记者计算了投资者15年的预期投资回报。据介绍,投资者购买产权后,第1-5年每年的回报率为8即40000元,第6-10年每年的回报率为8.5即42500元,第11-15年每年的回报率为9即45000元。如此算来,15年的总回报为637500元。如果把这些钱全部存进银行,15年的孳息为270000元。15年后,如果投资者选择让经营方回购产权,物业增值后的产权价值为575000元。此外,购买产权的投资者每天还可享受在该酒店1500元/天的标准套房内5天的免费住宿,其15年的合计金额为112500元。综上所述,投资者投资50万元15年间的总收益为1095000元,总收益率为219,年平均收益率为14.6,收益相当可观。

 

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中青旅拟募巨资收购乌镇旅游股权 https://dev.traveldailymedia.com/zhongqinglvnimujuzishougouwuzhenlvyouguquan/ Wed, 16 Oct 2013 05:27:17 +0000 http://www.traveldailychina.com/?p=531 The post 中青旅拟募巨资收购乌镇旅游股权 appeared first on TD (Travel Daily Media) Brand TD.

专注旅游业务的中青旅拟定向增发不超过7800万股,募资不超过12.3亿元,用于加大主营业务投入,整合旅游价值链。 10月15日晚间,中青旅发布公告称,本次非公开发行募集资金总额不超过12.30亿元,在扣除发行费用后净额约为12亿元,全部用于收购乌镇旅游股份有限公司15%股权,在线旅游平台化、网络化、移动化升级项目,桐乡旅游广场项目和补充流动资金。 根据中青旅的发展规划,此次定增募资用于进一步加大主营业务投入,整合旅游价值链。在收购乌镇旅游少数股东权益项目上,强化乌镇旅游作为公司景区业务投资平台的定位。 其次是建设桐乡旅游广场项目,试图打破乌镇景区原有地理区域的限制,促进乌镇旅游将服务链条向景区外延伸展,进一步提升乌镇旅游在桐乡市大旅游区域的配套设施水平。 值得注意的是,中青旅此次还斥资3.28亿元用于遨游网平台化、网络化、移动化项目,促使遨游网与公司线下业务成为中青旅旅游服务业务发展的两大引擎,并最终致力于成为品类丰富、服务完善、技术先进、用户体验良好、品牌和交易规模业内领先的综合性旅游服务平台。 中青旅认为在以互联网为推手的信息技术支持下,在线旅游市场的发展非常迅速,已经逐步成为一个新兴产业。从2009年开始,全球在线旅游业务每年保持10%以上的增长势头,预计到2015年在线旅游市场的交易将成为全球电子商务交易最大的产业之一。 中青旅在公告中称,通过全方位的有效服务体系建设,中青旅业务将实现全面“O2O”化,线上、线下业务将会成为中青旅的旅游服务业务发展的两大引擎,在线旅游业务快速发展将为公司提供新的赢利点,中青旅将成为国内少有的同时具备强大的线上线下功能的综合性旅游服务公司,进一步强化公司的同行业领先地位,预计本项目的建设将促进公司旅行社业务收入实现每年20%以上的增长。  

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The post 中青旅拟募巨资收购乌镇旅游股权 appeared first on TD (Travel Daily Media) Brand TD.

专注旅游业务的中青旅拟定向增发不超过7800万股,募资不超过12.3亿元,用于加大主营业务投入,整合旅游价值链。

10月15日晚间,中青旅发布公告称,本次非公开发行募集资金总额不超过12.30亿元,在扣除发行费用后净额约为12亿元,全部用于收购乌镇旅游股份有限公司15%股权,在线旅游平台化、网络化、移动化升级项目,桐乡旅游广场项目和补充流动资金。

根据中青旅的发展规划,此次定增募资用于进一步加大主营业务投入,整合旅游价值链。在收购乌镇旅游少数股东权益项目上,强化乌镇旅游作为公司景区业务投资平台的定位。

其次是建设桐乡旅游广场项目,试图打破乌镇景区原有地理区域的限制,促进乌镇旅游将服务链条向景区外延伸展,进一步提升乌镇旅游在桐乡市大旅游区域的配套设施水平。

值得注意的是,中青旅此次还斥资3.28亿元用于遨游网平台化、网络化、移动化项目,促使遨游网与公司线下业务成为中青旅旅游服务业务发展的两大引擎,并最终致力于成为品类丰富、服务完善、技术先进、用户体验良好、品牌和交易规模业内领先的综合性旅游服务平台。

中青旅认为在以互联网为推手的信息技术支持下,在线旅游市场的发展非常迅速,已经逐步成为一个新兴产业。从2009年开始,全球在线旅游业务每年保持10%以上的增长势头,预计到2015年在线旅游市场的交易将成为全球电子商务交易最大的产业之一。

中青旅在公告中称,通过全方位的有效服务体系建设,中青旅业务将实现全面“O2O”化,线上、线下业务将会成为中青旅的旅游服务业务发展的两大引擎,在线旅游业务快速发展将为公司提供新的赢利点,中青旅将成为国内少有的同时具备强大的线上线下功能的综合性旅游服务公司,进一步强化公司的同行业领先地位,预计本项目的建设将促进公司旅行社业务收入实现每年20%以上的增长。

 

The post 中青旅拟募巨资收购乌镇旅游股权 appeared first on Brand TD.

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Travelex considers stock market float https://dev.traveldailymedia.com/travelex-considers-stock-market-float/ Mon, 14 Oct 2013 09:30:38 +0000 http://www.traveldailymedia.com/?p=198811 The post Travelex considers stock market float appeared first on TD (Travel Daily Media) Brand TD.

Currency exchange specialist Travelex is reportedly considering a stock market floatation, after a series of high profile sell-offs have raised the company’s interest. The business is co-owned by Apax, which has held shares for the past eight years. The firm now wants to sell of its stake after reducing its present on the board from […]

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The post Travelex considers stock market float appeared first on TD (Travel Daily Media) Brand TD.

Travelex is considering a float after a series of good results on the market
Travelex is considering a float after a series of good results on the market

Currency exchange specialist Travelex is reportedly considering a stock market floatation, after a series of high profile sell-offs have raised the company’s interest.

The business is co-owned by Apax, which has held shares for the past eight years. The firm now wants to sell of its stake after reducing its present on the board from two members to one.

While Travelex and Apax have both refused to comment, City AM, heard from Travelex CEO Peter Jackson who said that floated companies were doing “very well” right now. The IPO is reportedly in very early stages.

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money pounds1 A fee like the US ESTA is in Labour's plans
北京国际旅游商品博览会签约43.76亿元 https://dev.traveldailymedia.com/beijingguojilvyoushangpinbolanhuiqianyue4376yiyuan/ Mon, 14 Oct 2013 06:41:36 +0000 http://www.traveldailychina.com/?p=413 The post 北京国际旅游商品博览会签约43.76亿元 appeared first on TD (Travel Daily Media) Brand TD.

昨日,为期四天的北京国际旅游商品博览会落下帷幕,包括“北京礼物”在内的旅游商品在本次展会上收获颇丰。市旅游委发布的数据显示,3家“北京礼物”运营商以及118家参展企业分别与合作伙伴达成合作协议或意向,协议总金额43.76亿元,直接和间接收入共计逾46亿元。 据统计,本届北京旅商会共有1120家企业,携带2万余款旅游商品参展。参展单位来自26个国家和地区,国内22个省、市旅游局。四天时间共接待国内外专业采购团组18个,专业采购商6128人次,入场观众超过12万人次。 值得注意的是,北京13个区县参会参展,以土特产品为主打的京郊旅游产品更加注重时尚细节。比如获得“北京礼物”商品类银奖的怀柔礼物情大礼包,虽然主打的是怀柔当地特色产品,但在包装上却突破了传统工艺,将土特产品装入实用化的“书包式”礼包中,增加了礼物的特色和便携性。 “本届展会充分发挥了博览会促进交易、拉动消费的效应,经济效益和社会效益十分显著。”市旅游委相关负责人介绍说,与去年相比,本届展会规模更大、国际化程度更高。比如展览面积达3万平方米,是首届旅商会展览面积的1.75倍。 近年来,本市旅游业发展迅猛,然而与旅游发达国家和地区旅游商品销售额占旅游总收入60%这一比例相比,北京旅游商品的发展在旅游产业链中仍显滞后,旅游纪念品缺少特色,旅游商品同质化严重。市旅游委相关负责人表示,未来将把北京旅商会打造成旅游商品展示交易的权威平台。  

The post 北京国际旅游商品博览会签约43.76亿元 appeared first on Brand TD.

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The post 北京国际旅游商品博览会签约43.76亿元 appeared first on TD (Travel Daily Media) Brand TD.

昨日,为期四天的北京国际旅游商品博览会落下帷幕,包括“北京礼物”在内的旅游商品在本次展会上收获颇丰。市旅游委发布的数据显示,3家“北京礼物”运营商以及118家参展企业分别与合作伙伴达成合作协议或意向,协议总金额43.76亿元,直接和间接收入共计逾46亿元。

据统计,本届北京旅商会共有1120家企业,携带2万余款旅游商品参展。参展单位来自26个国家和地区,国内22个省、市旅游局。四天时间共接待国内外专业采购团组18个,专业采购商6128人次,入场观众超过12万人次。

值得注意的是,北京13个区县参会参展,以土特产品为主打的京郊旅游产品更加注重时尚细节。比如获得“北京礼物”商品类银奖的怀柔礼物情大礼包,虽然主打的是怀柔当地特色产品,但在包装上却突破了传统工艺,将土特产品装入实用化的“书包式”礼包中,增加了礼物的特色和便携性。

“本届展会充分发挥了博览会促进交易、拉动消费的效应,经济效益和社会效益十分显著。”市旅游委相关负责人介绍说,与去年相比,本届展会规模更大、国际化程度更高。比如展览面积达3万平方米,是首届旅商会展览面积的1.75倍。

近年来,本市旅游业发展迅猛,然而与旅游发达国家和地区旅游商品销售额占旅游总收入60%这一比例相比,北京旅游商品的发展在旅游产业链中仍显滞后,旅游纪念品缺少特色,旅游商品同质化严重。市旅游委相关负责人表示,未来将把北京旅商会打造成旅游商品展示交易的权威平台。

 

The post 北京国际旅游商品博览会签约43.76亿元 appeared first on Brand TD.

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万达并购湖北新航线 首涉旅行社业务 https://dev.traveldailymedia.com/wandabinggouhubeixinhangxianshoushelvxingsheyewu/ Fri, 11 Oct 2013 07:21:41 +0000 http://www.traveldailychina.com/?p=342 The post 万达并购湖北新航线 首涉旅行社业务 appeared first on TD (Travel Daily Media) Brand TD.

10月10日,万达集团旗下北京万达旅业投资有限公司在武汉举行签约仪式,并购湖北新航线国际旅行社有限责任公司。双方将共同成立万达新航线国际旅行社有限责任公司,万达占70%股份。 据悉,这是万达进军旅游业以来首次涉足旅行社业务。 另据了解,万达旅业投资公司将在全国主要的客源城市和万达文化旅游项目所在地,并购数家旅行社,规划5年内进入中国旅行社行业前3名。 万达文化产业集团副总裁莫跃明表示,万达集团入主湖北新航线国际旅行社后,将利用万达集团对文化旅游资源的掌控,以及新航线的集客优势,打造旅行社产业的新模式,使之成为资源掌控型旅行社,成为综合型连锁旅行社运营商。 此前9月22日华尔街日报报道,大连万达董事长王健林在接受采访时表示,万达正寻求和好莱坞电影制片厂结成合作关系,为在香港组建合资公司做准备,并计划在年底前宣布两项联合制片计划。

The post 万达并购湖北新航线 首涉旅行社业务 appeared first on Brand TD.

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The post 万达并购湖北新航线 首涉旅行社业务 appeared first on TD (Travel Daily Media) Brand TD.

10月10日,万达集团旗下北京万达旅业投资有限公司在武汉举行签约仪式,并购湖北新航线国际旅行社有限责任公司。双方将共同成立万达新航线国际旅行社有限责任公司,万达占70%股份。
据悉,这是万达进军旅游业以来首次涉足旅行社业务。
另据了解,万达旅业投资公司将在全国主要的客源城市和万达文化旅游项目所在地,并购数家旅行社,规划5年内进入中国旅行社行业前3名。
万达文化产业集团副总裁莫跃明表示,万达集团入主湖北新航线国际旅行社后,将利用万达集团对文化旅游资源的掌控,以及新航线的集客优势,打造旅行社产业的新模式,使之成为资源掌控型旅行社,成为综合型连锁旅行社运营商。
此前9月22日华尔街日报报道,大连万达董事长王健林在接受采访时表示,万达正寻求和好莱坞电影制片厂结成合作关系,为在香港组建合资公司做准备,并计划在年底前宣布两项联合制片计划。

The post 万达并购湖北新航线 首涉旅行社业务 appeared first on Brand TD.

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去哪儿拟上市 上半年净亏1693万元 https://dev.traveldailymedia.com/qunar-is-planning-to-be-on-market/ Tue, 08 Oct 2013 05:37:32 +0000 http://www.traveldailychina.com/?p=124 The post 去哪儿拟上市 上半年净亏1693万元 appeared first on TD (Travel Daily Media) Brand TD.

去哪儿10月1日向SEC(美国证券交易委员会)提交IPO招股书,申请在纽约证券交易所上市,由德银、高盛担任承销商,最高融资1.25亿美元,代号为“QUNR”。 在招股书中,去哪儿披露了截止2010年、2011年、2012年12月31日止,3年的财务数据。 营收 2010年,去哪儿营收1.23882亿元人民币;其中,按效果付费服务营收1.04572亿元,展示广告服务营收1501.4万元,其它营收429.6万元。 2011年,去哪儿营收2.16932亿元人民币;其中,按效果付费服务营收2.16932亿元,展示广告服务营收3333.4万元,其它营收1216.1万元。 2012年,去哪儿营收5.01725亿元人民币(8174.9万美元);其中,按效果付费服务营收4.222234亿元(6879.7万美元),展示广告服务营收4667万元(760.4万美元),其它营收3282.1万元(534.8万美元)。 2012年上半年,去哪儿营收2.04564亿元;其中按效果付费服务营收1.70054亿元,展示广告服务营收1868.9万元,其它营收1582.1万元。 2013年上半年,去哪儿营收3.58807亿元(5846.2万美元);其中按效果付费服务营收3.16157亿元(5151.3万美元),展示广告服务营收2581.2万元(420.6万美元),其它营收1683.8万元(274.3万美元)。 营收成本和毛利 2010年,去哪儿营收成本2308.6万元,毛利1.00796亿元。2011年营收成本4368.2万元,毛利2.18745亿元。2012年营收成本9578.7万元,毛利4.05938亿元(661.42万美元)。 2013年上半年,去哪儿营收成本7289万元(1187.6万美元),毛利达2.85917亿元(4658.6万美元)。 运营费用 2012年,去哪儿产品研发费用为1.87266亿元(3051.2万美元),销售与营销费用为2.438亿元(3972.4万美元),行政管理费用5057.4万元(824.1万美元)。 2013年上半年,研发费用为1.20416亿元(1962万美元),销售与营销费用为1.40984亿元(2297.2万美元),行政管理费用4090.8万元(666.5万美元)。 运营亏损 2010年、2011年、2012年,去哪儿运营亏损分别为407.8万元、4174.6万元、7570.2万元(1233.5万美元)。 2012年上半年,去哪儿运营亏损5323.8万元;2013年上半年运营亏损1639.1万元(267.1万美元)。 净亏损 2010年、2011年、2012年,去哪儿净亏损分别为437.4万元、4595.1万元、9111.3万元(1484.6万美元)。 2012年上半年,去哪儿净亏损6409.7万元;2013年上半年净亏损1692.5万元(275.8万美元),但是第一季度净利润为2428万元,而进入到第二季度净亏损高达4121万元,较上一季度大幅扩大。 归于普通股东的净亏损 2010年、2011年、2012年,去哪儿归于普通股东的净亏损分别为437.4万元、7713.2万元、9111.3万元(1484.6万美元)。 2012年上半年,去哪儿归于普通股东的净亏损6409.7万元;2013年上半年归于普通股东的净亏损1692.5万元(275.8万美元)。 2012年,基本每股亏损0.32元(0.05美元),2010年亏损0.12元,2011年亏损0.51元。2012年上半年,基本每股亏损0.23元,2013年上半年基本每股亏损0.06元(0.01美元)。 2012年,摊薄每股亏损0.32元(0.05美元),2010年亏损0.12元,2011年亏损0.51元。2012年上半年,摊薄每股亏损0.23元,2013年上半年摊薄每股亏损0.06元(0.01美元)。 摊薄每股亏损和基本每股亏损额相同。归于普通股东的综合亏损,2010年、2011年、2012年分别为811.3万元、5144.2万元、9165.5万元;2012年上半年亏损6359万元,2013年上半年亏损2251.8万元(366.9万美元)。 现金 到2013年6月30日,去哪儿有现金与现金等价物2.85579亿元(4653.1万美元;有短期投资1.85343亿元(3019.9万美元);有应收帐款(Accounts receivable)7261.8万元(1183.2万美元);有应收资金(Funds receivable)1.17045亿元(1907.1万美元)。有总计流动资产9.26794亿元(1.51008亿美元)。 去哪儿还有资产和设备3491.8万元(568.9万美元)。 去哪儿有总资产9.70261亿元(1.5809亿美元)。2012年底时有总资产6.3928亿元。 到6月30日,去哪儿有总流动负债5.04826亿元(8812万美元)。 2013年二季度财务数据 今年二季度,去哪儿基于效果的付费收入为1.5333亿元,展示广告收入1418.3万元,其它收入861.6万元;二季度总营收达1.76129亿元。 上季度总收入为1.82678亿元。 二季度,去哪儿总营收成本为3845.5万元;毛利1.37674亿元。 二季度产品研发费用6447.8万元,销售与营销费用8194.5万元,行政管理费用2098万元。 二季度运营亏损2972.9万元,上季度运营利润为1333.8万元。 二季度净亏损4120.7万元,上季度净利2428.2万元。2011年一季度、二季度、三季度、四季度亏损分别为721.2万元、2487.6万元、143.9万元、1242.4万元。2012年一季度、二季度、三季度、四季度净亏损分别为2555万元、3854.7万元、840.8万元和1860.8万元。

The post 去哪儿拟上市 上半年净亏1693万元 appeared first on Brand TD.

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The post 去哪儿拟上市 上半年净亏1693万元 appeared first on TD (Travel Daily Media) Brand TD.

去哪儿10月1日向SEC(美国证券交易委员会)提交IPO招股书,申请在纽约证券交易所上市,由德银、高盛担任承销商,最高融资1.25亿美元,代号为“QUNR”。

在招股书中,去哪儿披露了截止2010年、2011年、2012年12月31日止,3年的财务数据。

营收

2010年,去哪儿营收1.23882亿元人民币;其中,按效果付费服务营收1.04572亿元,展示广告服务营收1501.4万元,其它营收429.6万元。

2011年,去哪儿营收2.16932亿元人民币;其中,按效果付费服务营收2.16932亿元,展示广告服务营收3333.4万元,其它营收1216.1万元。

2012年,去哪儿营收5.01725亿元人民币(8174.9万美元);其中,按效果付费服务营收4.222234亿元(6879.7万美元),展示广告服务营收4667万元(760.4万美元),其它营收3282.1万元(534.8万美元)。

2012年上半年,去哪儿营收2.04564亿元;其中按效果付费服务营收1.70054亿元,展示广告服务营收1868.9万元,其它营收1582.1万元。

2013年上半年,去哪儿营收3.58807亿元(5846.2万美元);其中按效果付费服务营收3.16157亿元(5151.3万美元),展示广告服务营收2581.2万元(420.6万美元),其它营收1683.8万元(274.3万美元)。

营收成本和毛利

2010年,去哪儿营收成本2308.6万元,毛利1.00796亿元。2011年营收成本4368.2万元,毛利2.18745亿元。2012年营收成本9578.7万元,毛利4.05938亿元(661.42万美元)。

2013年上半年,去哪儿营收成本7289万元(1187.6万美元),毛利达2.85917亿元(4658.6万美元)。

运营费用

2012年,去哪儿产品研发费用为1.87266亿元(3051.2万美元),销售与营销费用为2.438亿元(3972.4万美元),行政管理费用5057.4万元(824.1万美元)。

2013年上半年,研发费用为1.20416亿元(1962万美元),销售与营销费用为1.40984亿元(2297.2万美元),行政管理费用4090.8万元(666.5万美元)。

运营亏损

2010年、2011年、2012年,去哪儿运营亏损分别为407.8万元、4174.6万元、7570.2万元(1233.5万美元)。

2012年上半年,去哪儿运营亏损5323.8万元;2013年上半年运营亏损1639.1万元(267.1万美元)。

净亏损

2010年、2011年、2012年,去哪儿净亏损分别为437.4万元、4595.1万元、9111.3万元(1484.6万美元)。

2012年上半年,去哪儿净亏损6409.7万元;2013年上半年净亏损1692.5万元(275.8万美元),但是第一季度净利润为2428万元,而进入到第二季度净亏损高达4121万元,较上一季度大幅扩大。

归于普通股东的净亏损

2010年、2011年、2012年,去哪儿归于普通股东的净亏损分别为437.4万元、7713.2万元、9111.3万元(1484.6万美元)。

2012年上半年,去哪儿归于普通股东的净亏损6409.7万元;2013年上半年归于普通股东的净亏损1692.5万元(275.8万美元)。

2012年,基本每股亏损0.32元(0.05美元),2010年亏损0.12元,2011年亏损0.51元。2012年上半年,基本每股亏损0.23元,2013年上半年基本每股亏损0.06元(0.01美元)。

2012年,摊薄每股亏损0.32元(0.05美元),2010年亏损0.12元,2011年亏损0.51元。2012年上半年,摊薄每股亏损0.23元,2013年上半年摊薄每股亏损0.06元(0.01美元)。

摊薄每股亏损和基本每股亏损额相同。归于普通股东的综合亏损,2010年、2011年、2012年分别为811.3万元、5144.2万元、9165.5万元;2012年上半年亏损6359万元,2013年上半年亏损2251.8万元(366.9万美元)。

现金

到2013年6月30日,去哪儿有现金与现金等价物2.85579亿元(4653.1万美元;有短期投资1.85343亿元(3019.9万美元);有应收帐款(Accounts receivable)7261.8万元(1183.2万美元);有应收资金(Funds receivable)1.17045亿元(1907.1万美元)。有总计流动资产9.26794亿元(1.51008亿美元)。

去哪儿还有资产和设备3491.8万元(568.9万美元)。

去哪儿有总资产9.70261亿元(1.5809亿美元)。2012年底时有总资产6.3928亿元。
到6月30日,去哪儿有总流动负债5.04826亿元(8812万美元)。

2013年二季度财务数据

今年二季度,去哪儿基于效果的付费收入为1.5333亿元,展示广告收入1418.3万元,其它收入861.6万元;二季度总营收达1.76129亿元。

上季度总收入为1.82678亿元。

二季度,去哪儿总营收成本为3845.5万元;毛利1.37674亿元。

二季度产品研发费用6447.8万元,销售与营销费用8194.5万元,行政管理费用2098万元。

二季度运营亏损2972.9万元,上季度运营利润为1333.8万元。

二季度净亏损4120.7万元,上季度净利2428.2万元。2011年一季度、二季度、三季度、四季度亏损分别为721.2万元、2487.6万元、143.9万元、1242.4万元。2012年一季度、二季度、三季度、四季度净亏损分别为2555万元、3854.7万元、840.8万元和1860.8万元。

The post 去哪儿拟上市 上半年净亏1693万元 appeared first on Brand TD.

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上海自贸区出境游对外开放 市场竞争加剧 https://dev.traveldailymedia.com/shanghai-fta-outbound-open/ Mon, 07 Oct 2013 04:05:19 +0000 http://www.traveldailychina.com/?p=57 The post 上海自贸区出境游对外开放 市场竞争加剧 appeared first on TD (Travel Daily Media) Brand TD.

9月27日,国务院印发中国(上海)自由贸易试验区总体方案及试验区服务业扩大开放措施。其中,针对旅行社开放措施中指出,允许在试验区内注册的符合条件的中外合资旅行社,从事除台湾地区以外的出境旅游业务。 外资旅行社被允许参与中国繁荣的出境游市场,这样看似微小的变革可能会产生很大的影响。目前为止,中国仅在2011年确定了3家有出境游资质的中外合资旅行社。细则取消了旅行社获得经营许可满两年后才可经营出境游的限制,将会吸引中外合资旅行社选择到自贸区内注册。占据主导地位的国内旅行社将面临更加激烈的竞争。 近年来,中国出境游市场一直保持快速发展态势。从绝对数量而言,中国成为世界第一大出境旅游市场。据统计,中国出境人数自2010年首次突破5000万人次后,一直保持每年约20%的速度递增,2012年中国出境人数已高达8300万人。与此同时,中国游客的境外消费额也随之高涨,从2010年的540亿美元一跃攀升至2012年的1020亿美元,翻了将近一倍。预计2013年出境旅游人数将突破1亿人次,同比增长超过20%。 国内旅行社一直占据着中国繁荣的出境游市场。国内传统的大旅行社,中国国旅、中青旅、中旅总社等综合零售商在出境游市场一直占据主流。近年来,包括携程旅游、众信旅游、凯撒旅游等在内的出境游批发商在做强代理批发网络的同时,建设了电子商务平台,开展线上零售业务,在出境游市场上也抢占了一定市场份额。 允许符合条件的中外合资旅行社到自贸区注册,将使国内旅行社面临更加激烈的竞争,特别是在线上业务方面。一些国际旅游业巨头,例如全球最大的在线旅游公司Expedia将更便利地参与中国繁荣的出境游市场。外资旅行社具有网络、客源、管理、品牌、机制、规模等营销优势,他们将这些优势引入并辅以资金支持,中国出境游市场的竞争会变得更加激烈。

The post 上海自贸区出境游对外开放 市场竞争加剧 appeared first on Brand TD.

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The post 上海自贸区出境游对外开放 市场竞争加剧 appeared first on TD (Travel Daily Media) Brand TD.

9月27日,国务院印发中国(上海)自由贸易试验区总体方案及试验区服务业扩大开放措施。其中,针对旅行社开放措施中指出,允许在试验区内注册的符合条件的中外合资旅行社,从事除台湾地区以外的出境旅游业务。

外资旅行社被允许参与中国繁荣的出境游市场,这样看似微小的变革可能会产生很大的影响。目前为止,中国仅在2011年确定了3家有出境游资质的中外合资旅行社。细则取消了旅行社获得经营许可满两年后才可经营出境游的限制,将会吸引中外合资旅行社选择到自贸区内注册。占据主导地位的国内旅行社将面临更加激烈的竞争。

近年来,中国出境游市场一直保持快速发展态势。从绝对数量而言,中国成为世界第一大出境旅游市场。据统计,中国出境人数自2010年首次突破5000万人次后,一直保持每年约20%的速度递增,2012年中国出境人数已高达8300万人。与此同时,中国游客的境外消费额也随之高涨,从2010年的540亿美元一跃攀升至2012年的1020亿美元,翻了将近一倍。预计2013年出境旅游人数将突破1亿人次,同比增长超过20%。

国内旅行社一直占据着中国繁荣的出境游市场。国内传统的大旅行社,中国国旅、中青旅、中旅总社等综合零售商在出境游市场一直占据主流。近年来,包括携程旅游、众信旅游、凯撒旅游等在内的出境游批发商在做强代理批发网络的同时,建设了电子商务平台,开展线上零售业务,在出境游市场上也抢占了一定市场份额。

允许符合条件的中外合资旅行社到自贸区注册,将使国内旅行社面临更加激烈的竞争,特别是在线上业务方面。一些国际旅游业巨头,例如全球最大的在线旅游公司Expedia将更便利地参与中国繁荣的出境游市场。外资旅行社具有网络、客源、管理、品牌、机制、规模等营销优势,他们将这些优势引入并辅以资金支持,中国出境游市场的竞争会变得更加激烈。

The post 上海自贸区出境游对外开放 市场竞争加剧 appeared first on Brand TD.

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Marriott and American Express Middle East summer promotion https://dev.traveldailymedia.com/marriott-and-american-express-middle-east-summer-promotion/ Sun, 23 Jun 2013 12:10:56 +0000 http://www.traveldailymedia.com/?p=193341 The post Marriott and American Express Middle East summer promotion appeared first on TD (Travel Daily Media) Brand TD.

Marriott International and American Express Middle East have launched a summer promotion campaign that offers American Express Card members exclusive benefits at 88 Marriott properties across the Middle East, Africa, Europe and Asia Marriott throughout the duration of the summer. Under the terms of the campaign, American Express Card members wishing to explore tourist destinations […]

The post Marriott and American Express Middle East summer promotion appeared first on Brand TD.

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The post Marriott and American Express Middle East summer promotion appeared first on TD (Travel Daily Media) Brand TD.

Marriott International and American Express Middle East have launched a summer promotion campaign that offers American Express Card members exclusive benefits at 88 Marriott properties across the Middle East, Africa, Europe and Asia Marriott throughout the duration of the summer.Marriott

Under the terms of the campaign, American Express Card members wishing to explore tourist destinations across the Middle East, Africa, Asia and Europe will be eligible for three nights stay for the price of two, at any Marriott hotel participating in the promotion.

Additionally, Card members can avail complimentary and unlimited internet access, 20% off on hotel food and beverages, and complimentary food for children under 12. The promotion also offers complementary access to pools and gym facilities as well as savings of 20% on spa treatments or massages.

“American Express Middle East is committed to providing outstanding service, benefits and worldwide customer care to our Cardmembers, and the brand has become synonymous with travel, rewards and access,” said Usman Arif – VP, MerchantPartnership, American Express.

“Our 2013 Summer Promotion is an extension of this ethos, and will enable many Cardmembers across the Middle East to get more from their holiday, whether they stay in the region or venture further afield. We are pleased to partner with Marriott International this summer to offer Cardmembers exclusive benefits that not only enrich their lifestyles but also showcase American Express cards as a preferred payment option,” he added.

The three-month ‘Be Free with Marriott and American Express’ campaign runs from June 14 to September 13, 2013, and is available on bookings made with all American Express Cards, including Consumer and Corporate Cards across the global network.

Mark Satterfield, Chief Operating Officer, Marriott International Middle East & Africa, commented, “Marriott customers are savvy, enjoy luxury and appreciate great value. We have 43 properties in the region, and our business could never succeed without the thousands of loyal customers we regularly welcome back to our hotels across the Middle East and Africa. We continuously look for opportunities to allow our guests continued enjoyment of our world class locations, food, beverages and service for a little less. We are delighted to be working with American Express Middle East to do just that.”

The summer promotion will enable American Express Middle East Cardmembers to avail the guest and hospitality facilities at a total of 88 hotels from Marriott International’s portfolio of discerning brands including, JW Marriott Hotels, Renaissance Hotels, Marriott Hotels & Resorts, Courtyard by Marriott, Residence Inn by Marriott and Marriott Executive Apartments.

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Marriott
Tune Group moves into forex arena https://dev.traveldailymedia.com/tune-group-moves-into-forex-arena/ https://dev.traveldailymedia.com/tune-group-moves-into-forex-arena/#comments Mon, 27 May 2013 10:40:01 +0000 http://www.traveldailymedia.com/?p=191859 The post Tune Group moves into forex arena appeared first on TD (Travel Daily Media) Brand TD.

Tony Fernandes signs the deal with Philippe Ghanem at the Monaco Grand Prix

The Tune Group, which operates AirAsia and Tune Hotels, has signed a new deal that will see it enter the foreign exchange sector. A Memorandum of Understanding (MoU) signed with Abu Dhabi-based ADS Securities paves the way for Tune to develop a number of initiatives in relation to forex brokerage services. The first of these […]

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Tony Fernandes signs the deal with Philippe Ghanem at the Monaco Grand Prix
Tony Fernandes signs the deal with Philippe Ghanem at the Monaco Grand Prix
Tony Fernandes signs the deal with Philippe Ghanem at the Monaco Grand Prix

The Tune Group, which operates AirAsia and Tune Hotels, has signed a new deal that will see it enter the foreign exchange sector.

A Memorandum of Understanding (MoU) signed with Abu Dhabi-based ADS Securities paves the way for Tune to develop a number of initiatives in relation to forex brokerage services. The first of these will be the launch of Tune FX. Set to commence operations in September 2013, the new unit will see Tune use its marketing reach to introduce prospective new customers to ADS Securities’ forex services.

“Both ADS Securities and Tune Group share a lot of synergies, including a successful entrepreneurial spirit and a drive to continue developing our service offerings to meet customer needs,” said ADS Securities’ vice chairman & managing director, Philippe Ghanem. “The signing of this agreement is the start of a successful linking of our world class brokerage services with the portfolio of financial services offered under the Tune Group.”

“Tune Group is extremely pleased to be collaborating with ADS Securities,” added Tune’s co-founder and executive chairman, Tony Fernandes. “The Tune Group has continued to demonstrate that its philosophy of offering accessible world class and innovative services which cater to the communities in Asia and beyond is a winning formula. Whether it is in hospitality, sport or finance Tune Group offers high quality products and by partnering with ADS Securities we can extend exceptional services and opportunities to the Asia region. We look forward to an innovative and exciting partnership with ADS Securities.”

Tune FX will complement the group’s existing financial operations, which include Tune Money and Tune Insurance.

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Businesses claim more expenses https://dev.traveldailymedia.com/businesses-claim-more-expenses/ https://dev.traveldailymedia.com/businesses-claim-more-expenses/#comments Tue, 21 May 2013 15:16:06 +0000 http://www.traveldailymedia.com/?p=154713 The post Businesses claim more expenses appeared first on TD (Travel Daily Media) Brand TD.

UK businesses paid out GBP1.2 billion more in expenses last year compared to 2011, a new study has revealed.  Figures from travel and expense management company Concur found employees are claiming for smaller amounts more often, making an average 36 claims and around GBP2, 054 each. UK retailers have scaled back the most in expense […]

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People are making more claims for smaller amounts

UK businesses paid out GBP1.2 billion more in expenses last year compared to 2011, a new study has revealed. 

Figures from travel and expense management company Concur found employees are claiming for smaller amounts more often, making an average 36 claims and around GBP2, 054 each.

UK retailers have scaled back the most in expense claims, reducing numbers by 30%.

The company said the pressure is still on managers to ensure businesses stick to expense policies, as around 99% of expense claims are approved regardless of whether they meet pre-determined criteria. A YouGov survey found one in 10 young employees exaggerated claims last year, up 3% on 2011.

“In a tough economic environment we see a culture shift in spending on expenses. For example, the average bill for client entertainment dropped by 20%, in real terms over the last two years, implying that employees are aware that they may be frowned upon if they act extravagantly,” said David Vine, managing director of UK SMB at Concur.

“However, a recent study by Concurrevealed that the good old fashioned breakfast, lunch or dinner, has the biggest impact on landing a sale, so organisations must balance spend against potential sales to grow their business. While we’re not sounding the death knell for the decadent business lunch, there’s clearly been a trend towards smaller but more frequent expense claim submissions in the last couple of years,” he added.

 

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Carnival issues earnings warning https://dev.traveldailymedia.com/carnival-issues-earnings-warning/ https://dev.traveldailymedia.com/carnival-issues-earnings-warning/#comments Tue, 21 May 2013 13:15:18 +0000 http://www.traveldailymedia.com/?p=154697 The post Carnival issues earnings warning appeared first on TD (Travel Daily Media) Brand TD.

The biggest cruise company in the world, Carnival Corporation, has issued an updated lower earnings forecast for the second half of 2013 based on a poor first half of the year. The firm, which put the figures down to “lower net revenue yield expectations” reported that current ticket pricing had driven higher booking volumes however […]

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Carnival Spirit in Sydney

The biggest cruise company in the world, Carnival Corporation, has issued an updated lower earnings forecast for the second half of 2013 based on a poor first half of the year.

The firm, which put the figures down to “lower net revenue yield expectations” reported that current ticket pricing had driven higher booking volumes however because of the lower prices, net revenue was accordingly lower. This had resulted in the lower yield expectations.

Shares took a 379p hit, around 16%, sinking to 2013p.

The company now expects profits to be down 2-3% with the cancelled voyages also playing a role in the revised figures. The firm also recently announced a sale in which it was cutting the price by 40% for selected cruises with Carnival Cruise Lines.

The firm also revealed it is paying US$674 per metric ton in fuel.

London newspaper The Evening Standard quoted Shore Capital’s Martin Brown saying: “Elevated cancellations and greater levels of discounting appear to be the consequence of the PR disasters that have blighted Carnival this year.

“A period out of the front-page headlines and a demonstration of strengthening yields are clearly needed.”

It will be announcing its second quarter results in late June.

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Air Arabia inks US$350 million financing deal https://dev.traveldailymedia.com/air-arabia-inks-us350-million-financing-deal/ https://dev.traveldailymedia.com/air-arabia-inks-us350-million-financing-deal/#comments Tue, 21 May 2013 06:58:13 +0000 http://www.traveldailymedia.com/?p=154657 The post Air Arabia inks US$350 million financing deal appeared first on TD (Travel Daily Media) Brand TD.

Air Arabia signed a US$350 million finance deal from a syndicate of two GCC banks to support acquisition of 10 new Airbus A320 aircraft.  The airline signed the deal with senior representatives of Qatar National Bank S.A.Q. (QNB Group) and Commercial Bank International (CBI). The financing facility is to support the purchase of 10 new […]

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The post Air Arabia inks US$350 million financing deal appeared first on TD (Travel Daily Media) Brand TD.

Air Arabia signed a US$350 million finance deal from a syndicate of two GCC banks to support acquisition of 10 new Airbus A320 aircraft. 

(From Left to Right): Mohammad Sultan Al Qadi, chairman of Commercial Bank International (CBI), HE Sheikh Abdullah Bin Mohammad Al Thani, chairman of Air Arabia and Abdulla Mubarak Al-Khalifa, general manager, Group Corporate and Institution Banking, Qatar National Bank (QNB Group)

The airline signed the deal with senior representatives of Qatar National Bank S.A.Q. (QNB Group) and Commercial Bank International (CBI).

The financing facility is to support the purchase of 10 new aircraft, which is part of a larger order for 44 A320s placed with Airbus in 2007.

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QAIA records 8.6% growth in March 2013 https://dev.traveldailymedia.com/qaia-records-8-6-growth-in-march-2013/ https://dev.traveldailymedia.com/qaia-records-8-6-growth-in-march-2013/#respond Mon, 20 May 2013 08:31:23 +0000 http://www.traveldailymedia.com/?p=154556 The post QAIA records 8.6% growth in March 2013 appeared first on TD (Travel Daily Media) Brand TD.

Airport International Group (AIG)’s Queen Alia International Airport (QAIA) recorded positive results for traffic growth in March 2013.  As per the results, passenger traffic is up by over 8.6% as the new airport reached 549,861 passengers in March 2013 compared to the 506,189 passengers achieved in March 2012, bringing the year-to-date (YTD) passenger rate up […]

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Airport International Group (AIG)’s Queen Alia International Airport (QAIA) recorded positive results for traffic growth in March 2013. 

QAIA announces Q1 report

As per the results, passenger traffic is up by over 8.6% as the new airport reached 549,861 passengers in March 2013 compared to the 506,189 passengers achieved in March 2012, bringing the year-to-date (YTD) passenger rate up by around 5.6% from 1,395,008 passengers in 2012 to 1,472,524 passengers this year. In turn, aircraft movement (ACM) witnessed an approximate 2.7% increase when traffic rose from 5,545 ACM in March 2012 to 5,692 ACM in March 2013, pushing YTD ACM up by almost 3.6%.

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Earnings up at Europcar as revenue dips https://dev.traveldailymedia.com/earnings-up-at-europcar-as-revenue-dips/ https://dev.traveldailymedia.com/earnings-up-at-europcar-as-revenue-dips/#comments Thu, 16 May 2013 15:02:21 +0000 http://www.traveldailymedia.com/?p=154403 The post Earnings up at Europcar as revenue dips appeared first on TD (Travel Daily Media) Brand TD.

Europcar has seen its adjusted earnings before taxes improve 18.1% in first quarter 2013 against a 2.5% drop in revenue. The car hire company results come after a reorganisation and since commercial activity which included the launch of its low-cost brand InterRent. Its leisure bookings continued to grow in Q1 compared to the same period […]

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Europcar

Europcar has seen its adjusted earnings before taxes improve 18.1% in first quarter 2013 against a 2.5% drop in revenue.

The car hire company results come after a reorganisation and since commercial activity which included the launch of its low-cost brand InterRent.

Its leisure bookings continued to grow in Q1 compared to the same period last year while corporate levels dipped.

“The many initiatives taken on costs and cash flow in the framework of the group’s Fast Lane 2014 transformation plan combined with improved fleet utilisation and new customer approach, yield tangible impact,” said said Roland Keppler, CEO of Europcar.

“Europcar is increasingly well positioned to consolidate its results and to capture the long-term growth perspectives of the mobility markets,” he added.

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Deeper loss for Virgin Atlantic https://dev.traveldailymedia.com/deeper-loss-for-virgin-atlantic/ https://dev.traveldailymedia.com/deeper-loss-for-virgin-atlantic/#respond Thu, 16 May 2013 14:01:44 +0000 http://www.traveldailymedia.com/?p=154399 The post Deeper loss for Virgin Atlantic appeared first on TD (Travel Daily Media) Brand TD.

Virgin Atlantic posted a bigger annual loss of GBP93 million in its year-end results up to the end of February. The figure was worse than its GBP80m loss last year and was blamed on the economic situation and the Olympic Games. Its revenue increased 5% to GBP2.87bn with 188,000 more passengers at 5.5m in total. […]

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Virgin Atlantic CEO Craig Kreeger

Virgin Atlantic posted a bigger annual loss of GBP93 million in its year-end results up to the end of February.

The figure was worse than its GBP80m loss last year and was blamed on the economic situation and the Olympic Games.

Its revenue increased 5% to GBP2.87bn with 188,000 more passengers at 5.5m in total. Nearly half of its extra passengers booked premium economy or upper class seats, up 9.2% in total.

Forward sales at the airline are up 6% for 2013/14 and it now has 100 shops.

New CEO Craig Kreeger says he wants to turn the airline to profitability within two years.

“Last year saw a double dip recession, a continued weak macro economy, and an Olympic Games which, although a fantastic event, severely dented demand for business travel. Despite these challenging circumstances, the enduring strength of the Virgin Atlantic brand has not wavered – we have increased our revenues, our load factors, and carried many more passengers than the previous year,” he said.

“Virgin Atlantic has a programme of measures going forward which I am confident will improve our financial performance considerably in 2013/14 and put us firmly on the road to a return to profit in spring 2015,” he added.

His strategy will include its new Little Red domestic services; its joint venture with Delta; mor fuel-efficient aircraft and cost-saving initiatives.

“I am confident we have concrete plans in place to take Virgin Atlantic forward and return the business to profitability within a two-year time frame,” added Kreeger.

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Thomas Cook announces £1.6bn refinance plan https://dev.traveldailymedia.com/thomas-cook-announces-1-6bn-refinance-plan/ https://dev.traveldailymedia.com/thomas-cook-announces-1-6bn-refinance-plan/#comments Thu, 16 May 2013 08:46:10 +0000 http://www.traveldailymedia.com/?p=154358 The post Thomas Cook announces £1.6bn refinance plan appeared first on TD (Travel Daily Media) Brand TD.

Thomas Cook has announced a GBP1.6 billion capital refinancing plan to secure its future after posting improved results in its latest update. The tour operator hopes to raise GBP425m through a placing and rights issue; GBP441m in new bonds and GBP691m from new banking facilities. It comes after the group announced its losses fell from […]

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Thomas Cook

Thomas Cook has announced a GBP1.6 billion capital refinancing plan to secure its future after posting improved results in its latest update.

The tour operator hopes to raise GBP425m through a placing and rights issue; GBP441m in new bonds and GBP691m from new banking facilities.

It comes after the group announced its losses fell from GBP584.1m to GBP390.9m year-on-year after cutting costs and an improved UK business.

The group has already renegotiated bank loans and sold aircraft and high street shops while aiming to boost its online business under new chief executive Harriet Green. Its earnings before tax has improved by GBP58.7m with the sale of its USA and Canada businesses now completed.

“Today we are pleased to report improving financial results and announce important measures to strengthen our balance sheet. Earnings before interest and tax and gross margin are well ahead of last year and our cost out and profit improvement actions are going very well, allowing us to increase our target yet again,” said Green on the results.

“Our progress transforming the business also enables us to undertake our capital refinancing plan. This will reduce the very significant debt that we inherited, lengthen its repayment profile and consequently help us deliver the full benefits of the strategic plan we set out in March,” she added.

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Three UK airports “up for sale” https://dev.traveldailymedia.com/three-uk-airports-up-for-sale/ https://dev.traveldailymedia.com/three-uk-airports-up-for-sale/#comments Mon, 25 Feb 2013 14:57:59 +0000 http://www.traveldailymedia.com/?p=147724 The post Three UK airports “up for sale” appeared first on TD (Travel Daily Media) Brand TD.

Cardiff, Luton and Belfast International airports have been put up for sale by their Spanish owners, reports have said. According to the Sunday Times, the three regional airports could be sold off to ease the EUR14 billion (GBP12.2bn) of debts announced by owners Abertis. The Welsh Government is expected to buy Cardiff Airport next month […]

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Cardiff Airport is expected to be sold to the Welsh Government next month

Cardiff, Luton and Belfast International airports have been put up for sale by their Spanish owners, reports have said.

According to the Sunday Times, the three regional airports could be sold off to ease the EUR14 billion (GBP12.2bn) of debts announced by owners Abertis.

The Welsh Government is expected to buy Cardiff Airport next month for approximately GBP50m, while Luton Council had previously battled for funding with Abertis for the airport until granted GBP100m funding in August.

The three could now be sold off after the Spanish company said it was reviewing its airport businesses and said “all options are open”.

Heathrow Limited, previously known as BAA, was forced to sell Stansted and Edinburgh earlier this year and were bought for more than their predicted value.

Abertis is the world’s biggest toll road operator with business also in telecommunications and car parks. Its airport business makes up 8% of revenue and operates hubs in Mexico, South America and Sweden.

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Air France sinks to another US$1bn loss https://dev.traveldailymedia.com/air-france-sinks-to-another-us1bn-loss/ https://dev.traveldailymedia.com/air-france-sinks-to-another-us1bn-loss/#comments Sat, 23 Feb 2013 03:36:40 +0000 http://www.traveldailymedia.com/?p=147623 The post Air France sinks to another US$1bn loss appeared first on TD (Travel Daily Media) Brand TD.

Air France-KLM has fallen to a second consecutive billion-dollar net loss, as restructuring costs and a weak operating environment hit the carrier in 2012. Europe’s second biggest airline group posted a net loss of EUR1.19 billion (US$1.57bn) last year, following a US$1.07bn full-year net loss in 2011. The company’s revenues did improve compared to last […]

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Air France-KLM has fallen to a second consecutive billion-dollar net loss, as restructuring costs and a weak operating environment hit the carrier in 2012.

Air France-KLM is Europe's second-largest airline group
Air France-KLM is Europe's second-largest airline group

Europe’s second biggest airline group posted a net loss of EUR1.19 billion (US$1.57bn) last year, following a US$1.07bn full-year net loss in 2011. The company’s revenues did improve compared to last year however, rising 5.2% to EUR25.63bn, while its operating loss narrowed slightly, from EUR353m in 2011 to EUR300 in 2012. But the airline also incurred EUR471m of restructuring charges, which compounded the heavy net loss.

Jean-Cyril Spinetta, Chairman of Air France-KLM, lamented the “very tough” operating environment and said the result was “in line with our expectations”. He added however, that the airline was making progress towards its recovery.

“It was a year in which our fundamentals were restored, as the first, necessary step towards the recovery of our group. Our working practices have been overhauled, industrial projects have been determined for each of our businesses while reducing costs and improving our financial position,” Spinetta said.

“In 2013 we will maintain strict discipline in terms of capacity management, investments and costs. 2013 will also see the full implementation of all our projects. It is therefore a crucial year for the success of the Transform plan, and the return to sustainable profitability,” he added.

Operationally, Air France-KLM increased its passenger traffic (measured in revenue passenger kilometres) 2.1% in 2012 – greater than its 0.6% expansion of seat capacity. This allowed the airline to increase its average cabin load factor to a healthy 83.1%. The company’s operating expenses also increased however, with fuel costs jumping 13.8% to EUR7.34m and salaries rising 2.7% to EUR7.66m.

Despite the rise in seat capacity, Air France-KLM actually reduced its operational fleet size by 13 aircraft in 2012, to 374 aircraft.

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Saudi Arabia set for U$400 billion infrastructure investment https://dev.traveldailymedia.com/saudi-arabia-set-for-u400-billion-infrastructure-investment/ Fri, 22 Feb 2013 05:04:53 +0000 http://www.traveldailymedia.com/?p=36720 The post Saudi Arabia set for U$400 billion infrastructure investment appeared first on TD (Travel Daily Media) Brand TD.

Saudi Arabia plans to spend US$400 billion on infrastructure projects in the next five years as the kingdom seeks to benefit from lower construction costs amid the global financial crunch, Gulf News reported. “We are talking now about much less construction cost because of the drop in the prices of steel, cement and other building […]

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Saudi Arabia plans to spend US$400 billion on infrastructure projects in the next five years as the kingdom seeks to benefit from lower construction costs amid the global financial crunch, Gulf News reported.

“We are talking now about much less construction cost because of the drop in the prices of steel, cement and other building materials,” Saudi Arabian General Investment Authority Governor, Amr Al Dabbagh, was reported saying.

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Banyan Tree explores partnerships with UAE investors https://dev.traveldailymedia.com/banyan-tree-explores-partnerships-with-uae-investors/ https://dev.traveldailymedia.com/banyan-tree-explores-partnerships-with-uae-investors/#comments Thu, 21 Feb 2013 04:41:16 +0000 http://www.traveldailymedia.com/?p=147536 The post Banyan Tree explores partnerships with UAE investors appeared first on TD (Travel Daily Media) Brand TD.

Banyan Tree Hotels and Resorts is planning to expand its presence in the UAE in 2013 by establishing strategic partnerships with investors in the UAE and the region.   Abid Butt, Banyan Tree Hotels & Resorts CEO said: “We are looking into various opportunities in the UAE to launch new hotels and resorts by forming new […]

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Banyan Tree Hotels and Resorts is planning to expand its presence in the UAE in 2013 by establishing strategic partnerships with investors in the UAE and the region.  

Abid Butt, Banyan Tree Hotels & Resorts CEO said: “We are looking into various opportunities in the UAE to launch new hotels and resorts by forming new alliances and partnerships. The hospitality industry in Dubai and Abu Dhabi is witnessing increased growth supported by strong infrastructure and increasing interest in travel and tourism.”

The Banyan Tree Group manages and owns 30 resorts and hotels around the world, more than 60 integrated health clubs, 80 retail galleries and runs two golf courses. It currently manages two hotels – Banyan Tree Al Wadi and Banyan Tree Ras Al Khaimah Beach.

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Pound hits year low against euro, US dollar https://dev.traveldailymedia.com/pound-hits-year-low-against-euro-us-dollar/ https://dev.traveldailymedia.com/pound-hits-year-low-against-euro-us-dollar/#comments Wed, 20 Feb 2013 14:32:29 +0000 http://www.traveldailymedia.com/?p=147497 The post Pound hits year low against euro, US dollar appeared first on TD (Travel Daily Media) Brand TD.

The pound sterling has plunged to its lowest rate this year against the euro and US dollar. According to the Post Office Travel Money, travellers can currently get just US$1.41 for each pound, 5.3% less than early January and EUR1.05 for every pound, down 7%. The dollar exchange rate has also affected rates for the […]

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The pound sterling has plunged to its lowest rate this year against the euro and US dollar.

According to the Post Office Travel Money, travellers can currently get just US$1.41 for each pound, 5.3% less than early January and EUR1.05 for every pound, down 7%.

The dollar exchange rate has also affected rates for the Barbados dollar, East Caribbean dollar and UAE dirham, while tourists will pay more for all European currencies this month except the Icelandic krona.

Despite the low against major holiday destinations, the pound has strengthened against 13 long-haul destinations. The forecast for Latin America “looks good” while the pound has also improved against Japanese yen; South African rand and Kenyan shillings.

Those travelling to Egypt are also getting more for their pounds.

“Although the latest dip in the value of the UK pound is bad news for holidaymakers, there are many destinations where they can still get more for their money than a year ago,” said Andrew Brown from the Post Office.

He encouraged holidaymakers to buy in more bulk to get cheaper rates and avoid paying for worst rates from ATMs abroad.

 

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Marriott trumps IHG in 2012 results https://dev.traveldailymedia.com/marriott-trumps-ihg-in-2012-results/ https://dev.traveldailymedia.com/marriott-trumps-ihg-in-2012-results/#comments Wed, 20 Feb 2013 11:25:50 +0000 http://www.traveldailymedia.com/?p=147475 The post Marriott trumps IHG in 2012 results appeared first on TD (Travel Daily Media) Brand TD.

Marriott appeared to come out on top of two company results issued by the hotel chain and rival InterContinental Hotel Group (IHG) this week. Marriott posted a 17% increase in profits for 2012 at US$940 million, against IHG’s 10% rise to US$614m. The former’s results were helped along by the acquisition of Gaylord and new […]

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The post Marriott trumps IHG in 2012 results appeared first on TD (Travel Daily Media) Brand TD.

Marriott appeared to come out on top of two company results issued by the hotel chain and rival InterContinental Hotel Group (IHG) this week.

Marriott posted a 17% increase in profits for 2012 at US$940 million, against IHG’s 10% rise to US$614m. The former’s results were helped along by the acquisition of Gaylord and new brands such as the Autograph Collection and EDITION.

An EDITION hotel, a “luxury lifestyle brand”, is to open in London this year, while its growth in 2012 was predominantly through the emerging markets in Asia Pacific, Africa and Middle East. Arne Sorenson, President & CEO of Marriott International, said he was “delighted” with the results.

IHG also saw increases in emerging countries but surprisingly its main growth market was the US, where its revPAR increase was more than any other region at 6.3%.

In London the group is set to put the InterContinental Park Lane up for sale, while its new property in Westminster will officially open next week.

IHG’s chief executive, Richard Solomons, said he was pleased with the “significant progress” made by the company in 2012. “The financing environment remained tough through 2012 in many of our key markets, but we still signed on average one hotel a day into our pipeline,” he added.

Below is a break-down of the results.

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AirAsia plans India joint venture https://dev.traveldailymedia.com/airasia-plans-india-joint-venture/ https://dev.traveldailymedia.com/airasia-plans-india-joint-venture/#comments Wed, 20 Feb 2013 09:52:59 +0000 http://www.traveldailymedia.com/?p=147452 The post AirAsia plans India joint venture appeared first on TD (Travel Daily Media) Brand TD.

AirAsia is planning to join forces with Indian conglomerate Tata, to form a new domestic low-cost carrier based in Chennai. Through its investment arm, AirAsia Investment, the Malaysian airline group has submitted an application to the Indian Foreign Investment Promotion Board (FIPB) for permission to invest the maximum 49% into a new Indian carrier. Tata […]

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AirAsia is planning to join forces with Indian conglomerate Tata, to form a new domestic low-cost carrier based in Chennai.

Through its investment arm, AirAsia Investment, the Malaysian airline group has submitted an application to the Indian Foreign Investment Promotion Board (FIPB) for permission to invest the maximum 49% into a new Indian carrier. Tata Sons and Arun Bhatia of Telestra Tradeplace Pvt Ltd will hold the remaining 51%.

The new Indian LCC will be based in Chennai
The new Indian LCC will be based in Chennai

“We have carefully evaluated developments in India over the last few years and strongly believe that the current environment is perfect to introduce AirAsia’s low fares which stimulate travel and grow the market,” AirAsia’s Group CEO, Tony Fernandes said.

If the joint venture is approved, AirAsia will base its new airline in the southern city of Chennai, from where it will offer connections to India’s second and third tier cities. The move will make it the only major airline based at Chennai. Paramount Airways previously operated from the city, but has not flown since 2010. The move into Indian airspace will be a direct challenge to the country’s domestic LCCs, most notably IndiGo, which, like AirAsia, has placed huge aircraft orders in recent years.

AirAsia already operates flights into India, connecting from either Bangkok or Kuala Lumpur to Chennai, Bengaluru, Tiruchirappalli, Kochi and Kolkata. Any move into international airspace for the new Indian airline however, will have to wait. Indian carriers are forced to operate five years of domestic flights before they are permitted to launch international services.

This is unlikely to be a major concern for AirAsia, however. Fernandes has previously spoken of the major opportunities India offers, with its huge potential pool of domestic travellers.

“India is an exciting market and I have been overwhelmed with the developments of the country recently in terms of promoting air travel,” Fernandes said last month.

AirAsia has ordered a total of 475 Airbus A320 aircraft, of which only 114 have so far been delivered. This makes markets like India, which a population of more than one billion people, hugely attractive to the carrier, in terms of meeting its future capacity growth.

Subject to FIPB approval, the proposed joint venture company will make an application to Indian aviation regulators for an Air Operator’s Permit. This will pave the way for AirAsia India to become the company’s sixth national subsidiary, following Malaysia, Indonesia, Thailand, the Philippines and Japan.

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Marriott profits jump in 2012 https://dev.traveldailymedia.com/marriott-profits-jump-in-2012/ https://dev.traveldailymedia.com/marriott-profits-jump-in-2012/#comments Wed, 20 Feb 2013 05:55:14 +0000 http://www.traveldailymedia.com/?p=147443 The post Marriott profits jump in 2012 appeared first on TD (Travel Daily Media) Brand TD.

Marriott International has posted a strong set of results for 2012, with full-year profits seeing double-digit growth. The US hotel giant’s operating profits for last year jumped 17% to US$940 million, while net profits rose 20% to US$571m. Companywide revenues increased 8% to US$11.81 billion, driven by strong growth in emerging markets. Globally, Marriott’s revenue […]

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Marriott Executive Apartments Sathorn Vista, Bangkok
Marriott Executive Apartments Sathorn Vista, Bangkok

Marriott International has posted a strong set of results for 2012, with full-year profits seeing double-digit growth.

The US hotel giant’s operating profits for last year jumped 17% to US$940 million, while net profits rose 20% to US$571m. Companywide revenues increased 8% to US$11.81 billion, driven by strong growth in emerging markets.

Globally, Marriott’s revenue per available room (revPAR) increased 5.9% to US$116 in 2012, but this growth was driven by hotels in Asia Pacific, where revPAR jumped 8.4% to US$97, and the Middle East & Africa, which increased 8.3% to US$82. The company added a net total of 83 properties in 2012, comprising 17,198 rooms. This increases its global portfolio to 3,801 hotels with 660,394 rooms.

Arne Sorenson, president & CEO of Marriott International, said he was “delighted” with the results.

“Worldwide international travel increased to record levels in 2012 while hotel supply growth was low in most markets around the world, especially in the US. Despite low levels of new construction in the industry and modest economic growth in some regions of the world, we added over 27,000 rooms to our worldwide system in 2012, increased our worldwide systemwide revPAR by six percent and increased room rates by four percent. Our development team had a record year, signing more than 57,000 new rooms and increasing our global development pipeline to nearly 130,000 rooms at year-end. To date in 2013, we’ve already signed over 9,000 rooms with nearly 90 percent of those in Asia,” Sorenson said.

Marriott now expects to increase its operating income further in 2013, with a forecast of between US$985m and US$1.06bn for the year, and the addition of 20-000-25,000 rooms.

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IHG profits jump 10% in 2012 https://dev.traveldailymedia.com/ihg-profits-jump-10-in-2012/ https://dev.traveldailymedia.com/ihg-profits-jump-10-in-2012/#comments Tue, 19 Feb 2013 09:14:45 +0000 http://www.traveldailymedia.com/?p=147355 The post IHG profits jump 10% in 2012 appeared first on TD (Travel Daily Media) Brand TD.

InterContinental Hotels Group (IHG) achieved a strong 10% rise in profits last year. The company generated a full-year operating profit of US$614 million in 2012, up from US$559m in 2011. The company’s revenue per available room (revPAR) increased 5.2% year-on-year, driven by a 3.2% rise in average daily rates (ADR). But perhaps surprisingly, IHG’s main […]

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InterContinental Grand Stanford, Hong Kong
InterContinental Grand Stanford, Hong Kong

InterContinental Hotels Group (IHG) achieved a strong 10% rise in profits last year.

The company generated a full-year operating profit of US$614 million in 2012, up from US$559m in 2011. The company’s revenue per available room (revPAR) increased 5.2% year-on-year, driven by a 3.2% rise in average daily rates (ADR).

But perhaps surprisingly, IHG’s main growth market last year was the US, with revPAR in the country rising 6.3% – the strongest growth of any region. This growth even exceeded that of Greater China, where revPAR climbed 5.4%. In Asia, the Middle East & Africa (AMEA), revPAR increased 4.9%, as strong trading in Southeast Asia and Japan was offset by a slowdown in some Middle Eastern markets. AMEA’s operating profit rose 5% to US$88m while Greater China’s profits jumped 21% to US$81m.

IHG also saw a 2.7% net increase in its global room inventory in 2012, fuelled by growth in emerging markets. IHG’s chief executive, Richard Solomons, said he was pleased with the “significant progress” made by the company in 2012.

“The financing environment remained tough through 2012 in many of our key markets, but we still signed on average one hotel a day into our pipeline. This reflects the excellent relationship we enjoy with our owners and further strengthens our foundation for high quality growth,” said Solomons.

Last year, IHG signed 8,000 new rooms in the AMEA region, plus another 8,000 in Greater China. It also launched two new brands in 2012 – the China-focused Hualuxe Hotels & Resorts, and the US-led wellness brand Even Hotels. IHG now operates a total of 675,982 rooms, including 62,737 in AMEA and 61,601 in Greater China. It also has a global pipeline totalling 169,030 rooms.

“IHG’s proven strategy and resilient business model position us for further good performance in 2013, despite the challenging economic environment,” Solomons added.

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Saudi hospitality sector worth US$18.1bn by 2016 https://dev.traveldailymedia.com/saudi-hospitality-sector-worth-us18-1bn-by-2016/ https://dev.traveldailymedia.com/saudi-hospitality-sector-worth-us18-1bn-by-2016/#respond Tue, 19 Feb 2013 08:12:25 +0000 http://www.traveldailymedia.com/?p=147334 The post Saudi hospitality sector worth US$18.1bn by 2016 appeared first on TD (Travel Daily Media) Brand TD.

A rise in the number of pilgrims visiting the Kingdom for Hajj and Umrah, are boosting domestic tourism growth, with Saudi residents making 22.5 million overnight trips per annum.  Tourism receipts for Hajj and Umrah currently account for around 3% of GDP and, according to tourism officials, the country gained a reported US$16.5bn from tourism […]

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A rise in the number of pilgrims visiting the Kingdom for Hajj and Umrah, are boosting domestic tourism growth, with Saudi residents making 22.5 million overnight trips per annum. 

Tourism receipts for Hajj and Umrah currently account for around 3% of GDP and, according to tourism officials, the country gained a reported US$16.5bn from tourism in 2012, representing a 10% increase on the previous year.

The region also accounts for the bulk of international tourist arrivals, at 46% according to an October 2012 GCC Hospitality Industry Report from Alpen Capital, representing a 50% year-on-year increase against 2011 figures.

“The Kingdom is investing heavily in the infrastructure as expansion plans for the new US$7bn Jeddah airport project move ahead, with the airport projecting annual passenger volume of up to 80 million passengers within the next two decades,” said Mark Walsh, portfolio director, Reed Travel Exhibitions.

In addition, Riyadh is also experiencing increased demand from business travellers. Saudi government investment into key infrastructure projects including airport expansion, railways and roads, is pegged at around US$80bn between now and 2022, with investment into major tourism initiatives forecast to grow at a CAGR of 6.9%.

According to the report, tourist arrivals are expected to grow at a CAGR of 4.0% between 2012 and 2022, driven by strong growth across all sectors, with occupancies set to jump from 67.5% in 2011 to 74.2% by 2016 and a US$30 increases in ADR to US$258.4.

“In tandem demand for hotel rooms means that aggressive development and expansion plans for a number of major international hotel groups is also on the short-term agenda. InterContinental Hotels Group has said that Saudi Arabia is one of the markets representing the most opportunity for its Middle East business to grow in 2013, with two new properties set to open in Riyadh this year, and a total of eight hotels by 2018,” said Walsh.

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Grim news for Kingfisher as bank mulls loan recall https://dev.traveldailymedia.com/grim-news-for-kingfisher-as-bank-mulls-loan-recall/ https://dev.traveldailymedia.com/grim-news-for-kingfisher-as-bank-mulls-loan-recall/#comments Thu, 14 Feb 2013 13:27:28 +0000 http://www.traveldailymedia.com/?p=147092 The post Grim news for Kingfisher as bank mulls loan recall appeared first on TD (Travel Daily Media) Brand TD.

Kingfisher Airlines problems have escalated as bank lenders said they could begin calling in 85bn Rupees of loans to the airline, adding that carrier founder, Vijay Mallya, had been given “enough time to repay”. The 17 bank consortium, led by the State Bank of India, told the carrier to show signs of an investor or […]

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Kingfisher Airlines problems have escalated as bank lenders said they could begin calling in 85bn Rupees of loans to the airline, adding that carrier founder, Vijay Mallya, had been given “enough time to repay”.

The 17 bank consortium, led by the State Bank of India, told the carrier to show signs of an investor or risk collapse.

Shyamal Acharya, deputy managing director at the State Bank of India, told reporters: “Banks have run out of patience. Consortium members felt that the matter has reached a dead end. Here is a case maybe for the termination of relationship. So we decided to consider recalling the loan.”

Kingfisher’s shares plunged on the news and Mallaya’s business and personal assets hang in the balance.

A further blow was dealt by the International Air Transport Association (IATA), which told the carrier it will be terminating its membership from the body if the airline fails to take to the skies again.

IATA said Kingfisher’s IATA Operational Safety Audit (IOSA) is about to expire within the month and, according to sources for The Economic Times,  the carrier had failed to keep an ongoing audit.

Airline companies have to undertake an IOSA audit, which has a validity of two years and evaluates operational and control systems of the airline.

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Oman Government to invest US$39mn in tourism https://dev.traveldailymedia.com/oman-government-to-invest-us39mn-in-tourism/ https://dev.traveldailymedia.com/oman-government-to-invest-us39mn-in-tourism/#comments Tue, 12 Feb 2013 06:47:37 +0000 http://www.traveldailymedia.com/?p=146891 The post Oman Government to invest US$39mn in tourism appeared first on TD (Travel Daily Media) Brand TD.

In an effort to boost its tourism portfolio, the Sultanate of Oman is taking a 360-degree look at its tourism product.  The government is raising investment and private sector interest with a raft of pipeline projects underway from Khasab to Salalah. “The Omani government has allocated US$39mn to develop tourism sites in Dhofar province this […]

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In an effort to boost its tourism portfolio, the Sultanate of Oman is taking a 360-degree look at its tourism product. 

The government is raising investment and private sector interest with a raft of pipeline projects underway from Khasab to Salalah.

“The Omani government has allocated US$39mn to develop tourism sites in Dhofar province this year, as the annual Khareef (monsoon) season attracts increasing numbers of local, regional and international visitors,” said Mark Walsh, portfolio director, Reed Travel Exhibitions.

Muscat International Airport’s new multi-million dollar terminal is set to open next year, with the capacity to handle 12 million passengers per annum, with potential for a projected 48 million passengers upon completion of its long-term phased expansion programme. To the south of the country, new tourism hotspot Salalah is also preparing for one million passengers each year once it debuts its upgraded airport in 2014.

Both Qatar Airways and Oman Air are launching new services from Salalah in 2013, with the airport recording a 23% rise in passenger traffic to 629,000 travellers in 2012 against 2011.

Hotel room capacity in the country is forecast to grow at a CAGR of 5.3% over the period 2011 to 2016 and the Sultanate currently has approximately 5,331 rooms – or 7% of GCC expected supply – under development, with some 2,000 hotel rooms ready for business by the end of 2013, according to the Ministry of Tourism.

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Scrapping APD will boost economy, finds report https://dev.traveldailymedia.com/scrapping-apd-will-boost-economy-finds-report/ https://dev.traveldailymedia.com/scrapping-apd-will-boost-economy-finds-report/#comments Mon, 04 Feb 2013 12:47:18 +0000 http://www.traveldailymedia.com/?p=146400 The post Scrapping APD will boost economy, finds report appeared first on TD (Travel Daily Media) Brand TD.

Abolishing Air Passenger Duty (APD) would boost the UK economy and create almost 60,000 new jobs, a new report has suggested. The study by PriceWaterhouseCoopers (PwC) looking at the economic impact of the tax found that GDP could increase 0.46% in the first year of it being scrapped, amounting to GBP16 billion in the first […]

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Abolishing Air Passenger Duty (APD) would boost the UK economy and create almost 60,000 new jobs, a new report has suggested.

The study by PriceWaterhouseCoopers (PwC) looking at the economic impact of the tax found that GDP could increase 0.46% in the first year of it being scrapped, amounting to GBP16 billion in the first three years and 60,000 jobs.

If APD were scrapped airlines would be able to put more money into their networks; inbound tourism would see a boost and business travel would pick up in the medium term.

The figures were calculated using the same model used by the IMF, World Bank and UK Treasury to measure the impact of taxes.

“Abolishing APD has the potential to reduce the cost of flying, making it cheaper for businesses to maintain relationships with overseas customers. In this sense APD could be regarded as a tax on exports,” the report added.

In a jointly released statement, bosses from British Airways, easyJet, Ryanair and Virgin Atlantic said the report had shown the “critical role that aviation plays as an engine in economic growth”.

“It proves that APD is one of the three most destructive taxes; alongside Corporation Tax and Fuel Duty. The Chancellor has taken action on those two taxes in the Autumn Statement and we would encourage him to use the forthcoming Budget to remove APD to stimulate economic growth and create jobs,” the statement said. 

All four would “be able to move quickly to add new flights” if the tax was abolished. 

See the full report here. 

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Dubai’s business appeal attracts investments: E&Y Survey https://dev.traveldailymedia.com/dubais-business-appeal-attracts-investments-ey-survey/ https://dev.traveldailymedia.com/dubais-business-appeal-attracts-investments-ey-survey/#comments Tue, 22 Jan 2013 01:59:45 +0000 http://www.traveldailymedia.com/?p=145714 The post Dubai’s business appeal attracts investments: E&Y Survey appeared first on TD (Travel Daily Media) Brand TD.

The Hotel Benchmark survey for November 2012 conducted by Ernst and Young Middle East revealed that rooms yield (RevPAR) increased by 3.8% and average room rate marginally decreased by 0.4% in November 2012.  The increase is attributed to the high number of forums and conferences from the Banking & Finance sector, Securities sector and the […]

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The Hotel Benchmark survey for November 2012 conducted by Ernst and Young Middle East revealed that rooms yield (RevPAR) increased by 3.8% and average room rate marginally decreased by 0.4% in November 2012. 

The increase is attributed to the high number of forums and conferences from the Banking & Finance sector, Securities sector and the Oil & Gas sector held in Dubai during the month of November. This represents Dubai’s increasing appeal as a business-friendly environment that continues to attract major investments and international projects in addition to the stable and increasing tourism sector within the city.

Commenting Yousef Wahbeh, MENA Head of Transaction Real Estate at Ernst & Young, said: “The overall occupancy rate in Dubai was at 80% year-to-date, rising two per cent from same period of last year. In terms of the monthly performance, Dubai’s overall occupancy rate increased to 90.9%, marking a 3.7% increase from November 2011. Additionally, room yield (RevPAR) increased by 10.8% year-to-date, with average room rate increasing by 7.5% year-to-date.”

With regard to the wider MENA region, we saw notable changes in the city of Amman, where overall occupancy rates increased by 16.0% year-to-date. The year-to-date room yield in Amman is 31.7% higher than it was year-to-date in 2011, with the average room rate 3.1% higher than it was year-to-date in 2011. Bahrain also witnessed positive change where overall occupancy rates increased by 7.0% year-to-date. The year-to-date room yield in Bahrain has increased to 20.7% from the 2011, while the average room rate witnessed a mild 0.4% drop compared to the same time period last year.

There were no noticeable changes in Egypt, where cities such as Cairo, Sharm El-Sheikh and Hurgada remained stable in their overall occupancy rates, with Cairo’s occupancy rising 7.0% year-to-date, Sharm El Shaikh’s occupancy grew 12.0% year-to-date, and Hurghada’s occupancy rate grew 8.0% year-to-date. Sharm Al Shaikh also witnessed the highest year-to-date growth in Egypt in terms of Rooms Yield, of 16.3% compared to the same time period in 2011. In terms of monthly performance, Cairo’s occupancy rate improved 11% compared to November 2011, with Sharm El Shaikh increasing 6.0% and Hurghada 5.0% compared to November 2011.

Additionally, Saudi Arabia experienced noticeable increases in occupancy rates, with Jeddah increasing by 7.0% year-to-date, and Madina increasing 2.0% year-to-date. Compared to November 2011, Riyadh’s occupancy rate increased by 17.0% in November 2012. This is accredited to the various initiatives undertaken by the city to showcase lost artifacts and the introduction of new cultural experiences to the city.

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Exploring investment opportunities in aircraft financing https://dev.traveldailymedia.com/exploring-investment-opportunities-in-aircraft-financing/ https://dev.traveldailymedia.com/exploring-investment-opportunities-in-aircraft-financing/#comments Wed, 24 Oct 2012 07:34:57 +0000 http://www.traveldailymedia.com/?p=140707 The post Exploring investment opportunities in aircraft financing appeared first on TD (Travel Daily Media) Brand TD.

As Middle East investors continue to take advantage of growing commercial aircraft financing opportunities, knowing more about the inner workings of aircraft investment will be a key to maximizing participant value, financing executives from aircraft maker, Boeing Company, informed a gathering of regional financial risk management leaders. This gathering titled ‘Chief Risk Officer (CRO) Aviation […]

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As Middle East investors continue to take advantage of growing commercial aircraft financing opportunities, knowing more about the inner workings of aircraft investment will be a key to maximizing participant value, financing executives from aircraft maker, Boeing Company, informed a gathering of regional financial risk management leaders.

This gathering titled ‘Chief Risk Officer (CRO) Aviation Summit’ was a joint initiative with Etihad Airways, and National Bank of Abu Dhabi.

“We sought a diverse group that could talk authoritatively on behalf of investment attractiveness of all large commercial aircraft, and not just those we produce,” said Rich Hammond, senior director for the Middle East, African and South Asia region of Boeing Capital Corporation (BCC).

The Summit dealt with considerations associated with managing aircraft-related lending risk and which are staples of risk management teams – regardless of assets involved – at financial institutions worldwide.

The Middle East is projected to become one of the largest aviation markets in the world over the next two decades with Boeing estimating the region will need 2,370 commercial jet aircraft, with a value of US$470 billion, between now and 2031.

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Business travellers to cut costs in 2012 https://dev.traveldailymedia.com/business-travellers-to-cut-costs-in-2012/ https://dev.traveldailymedia.com/business-travellers-to-cut-costs-in-2012/#comments Tue, 29 Nov 2011 06:48:06 +0000 http://www.traveldailymedia.com/?p=120637 The post Business travellers to cut costs in 2012 appeared first on TD (Travel Daily Media) Brand TD.

Business travellers are likely to move from business class to premium economy seating in 2012, and may avoid travelling to destinations with high airport taxes. This is the view of Corporate Traveller UK’s general manager, Graeme Milne, who believes that while business travel bookings will remain steady next year, companies may look at other ways […]

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Business travellers are likely to move from business class to premium economy seating in 2012, and may avoid travelling to destinations with high airport taxes.

This is the view of Corporate Traveller UK’s general manager, Graeme Milne, who believes that while business travel bookings will remain steady next year, companies may look at other ways of cutting costs. This will also include clients seeking longer payment terms in a bid to ease cash flow.

“Clients are increasingly asking if they can delay payments and it’s not an easy decision for any TMC to make as we have to weigh up the risks involved,” said Milne. “We have also seen a marked increase in hotel bill-backs as clients look for ways to stretch their finances by paying after departure.”

On the issue of airport taxes, Milne said he believed that levies like APD would have an impact on corporate travellers’ flight choice. “All taxes associated with air travel are high and clients are seeking ways to reduce costs if they can fly indirectly to a destination via an airport with lower rates,” the Corporate Traveller GM said.

Milne also said he believes that companies will look towards flying with carriers offering good frequent flyer benefits, and that rail bookings will remain steady, although corporate travellers are likely to shift down to standard travel classes.

Despite this trend of cost-cutting, Milne said that Corporate Traveller was expecting to increase its turnover by 30% to £200 million by the end of its financial year in June 2012. This follows a 35% rise in the past 12 months.

“The ongoing challenge for us is to demonstrate that we can add value. There is so much choice out there in the marketplace for clients to book online, direct with a supplier, or with a rival TMC, that customers need to see a tangible value in using us for their travel requirements,” said Milne.

“The economic outlook is still challenging, but we are confident about our growth in 2012. As in any recession, some companies fair better than others depending on the nature of their business. Corporate Traveller has a wide client base – a total of 1,500 clients across 50 industry sectors – so we are less vulnerable to a drop in trading in one particular sector,” he added.

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CT Business Travel moves to new base https://dev.traveldailymedia.com/ct-business-travel-moves-to-new-base/ https://dev.traveldailymedia.com/ct-business-travel-moves-to-new-base/#comments Sat, 26 Nov 2011 10:10:38 +0000 http://localhost/tdmed/?p=118589 The post CT Business Travel moves to new base appeared first on TD (Travel Daily Media) Brand TD.

CT Business Travel has moved to new offices in Tunbridge Wells. The travel management company said in a statement that it has “outgrown” its previous premises, forcing it to relocate to the new office in Tunbridge Wells’ Orchard Business Park. “The move certainly had its challenges as we were hoping to be settling into our […]

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CT Business Travel has moved to new offices in Tunbridge Wells. The travel management company said in a statement that it has “outgrown” its previous premises, forcing it to relocate to the new office in Tunbridge Wells’ Orchard Business Park.

“The move certainly had its challenges as we were hoping to be settling into our new premises in the summer of this year,” revealed CT Business Travel’s managing director, Mark Kempster. “But converting an industrial unit into a modern office space was always going to be a huge project, so I’m very thankful we’re finally in our new building, which should serve us for a good number of years to come as there’s plenty of space for us to expand further,” he added.

CT Business Travel, which has UNIGLOBE membership status, provides corporate travel services such as rail bookings, flights and hotel accommodation.

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Thomas Cook shares rebound slightly https://dev.traveldailymedia.com/thomas-cook-shares-rebound-slightly/ https://dev.traveldailymedia.com/thomas-cook-shares-rebound-slightly/#comments Sat, 26 Nov 2011 10:10:38 +0000 http://localhost/tdmed/?p=118575 The post Thomas Cook shares rebound slightly appeared first on TD (Travel Daily Media) Brand TD.

Shares in Thomas Cook have rebounded slightly following Tuesday’s 75% dive. The travel company’s shares closed yesterday at 16.35p, having started the day at 11.12p. This is still considerably lower however, than Monday’s closing price of 41.11p, prior to Tuesday’s well-publicised plunge. Thomas Cook’s shares climbed as high as 204.80p earlier this year.

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The post Thomas Cook shares rebound slightly appeared first on TD (Travel Daily Media) Brand TD.

Shares in Thomas Cook have rebounded slightly following Tuesday’s 75% dive. The travel company’s shares closed yesterday at 16.35p, having started the day at 11.12p. This is still considerably lower however, than Monday’s closing price of 41.11p, prior to Tuesday’s well-publicised plunge.

Thomas Cook’s shares climbed as high as 204.80p earlier this year.

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Seniors splash out on coach holidays https://dev.traveldailymedia.com/seniors-splash-out-on-coach-holidays/ https://dev.traveldailymedia.com/seniors-splash-out-on-coach-holidays/#comments Sat, 26 Nov 2011 10:10:38 +0000 http://localhost/tdmed/?p=118565 The post Seniors splash out on coach holidays appeared first on TD (Travel Daily Media) Brand TD.

While many Brits are making financial cutbacks, the over-55s are spending more than ever on coach tours, according to Shearings Holidays. Bookings of premium coach holidays are up 73% year-on-year, according to the UK-based coach tour operator. “Today’s over-55s are more likely than any other age group to splash out on luxury holidays, staying in […]

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While many Brits are making financial cutbacks, the over-55s are spending more than ever on coach tours, according to Shearings Holidays. Bookings of premium coach holidays are up 73% year-on-year, according to the UK-based coach tour operator.

“Today’s over-55s are more likely than any other age group to splash out on luxury holidays, staying in premium accommodation and enjoying exclusive travel options,” said Shearings’ commercial director, Caroline Brown.

“Many are in a fortunate position of having more time and disposable income than younger couples and families, so they are able to enjoy more of the luxuries in life. The strength of our 2011 sales for our premium Grand Tourer holidays is evidence of this trend,” she added.

Research has shown that the over-55s spend more money per head while on holiday that any other age group, and 45% more than 18-34 year-olds.

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HRG announces new partner in India https://dev.traveldailymedia.com/hrg-announces-new-partner-in-india/ https://dev.traveldailymedia.com/hrg-announces-new-partner-in-india/#comments Sun, 27 Nov 2011 00:58:31 +0000 http://localhost/tdmed/?p=120574 The post HRG announces new partner in India appeared first on TD (Travel Daily Media) Brand TD.

Hogg Robinson Group (HRG) announced a new partner in India, Dnata, which will handle their operations with immediate effect. David Radcliffe, Chief Executive of HRG said; “India continues to grow in importance of our clients and it is vital that we have a consistently reliable and high quality service to offer them. We have a […]

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Hogg Robinson Group (HRG) announced a new partner in India, Dnata, which will handle their operations with immediate effect. David Radcliffe, Chief Executive of HRG said; “India continues to grow in importance of our clients and it is vital that we have a consistently reliable and high quality service to offer them. We have a long-standing and successful relationship with Dnata which has existing business interests in India and a comprehensive understanding of the culture. Dnata also understands the needs and requirements of HRG’s multinational clients for whom a seamless service is vital. This development to our worldwide network further enhances the level of global expertise and local knowledge.”

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RBI likely to submit AI turnaround plan next week https://dev.traveldailymedia.com/rbi-likely-to-submit-ai-turnaround-plan-next-week/ https://dev.traveldailymedia.com/rbi-likely-to-submit-ai-turnaround-plan-next-week/#comments Sun, 27 Nov 2011 00:58:31 +0000 http://localhost/tdmed/?p=120576 The post RBI likely to submit AI turnaround plan next week appeared first on TD (Travel Daily Media) Brand TD.

Next week the Reserve Bank of India is expected to submit a report containing its recommendations on a fresh turnaround plan for Air India, a senior official in the Ministry of Civil Aviation told Wall Street Journal. “The RBI is expected to submit its report next week after which the Group of Ministers (GoM) will […]

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Next week the Reserve Bank of India is expected to submit a report containing its recommendations on a fresh turnaround plan for Air India, a senior official in the Ministry of Civil Aviation told Wall Street Journal. “The RBI is expected to submit its report next week after which the Group of Ministers (GoM) will take a final call to send it to the cabinet or discuss it further,” the official said. The panel of ministers, headed by Finance Minister Pranab Mukherjee, was set up to look into Air India’s turnaround and had sought the views of the central bank on a fresh business plan.

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Holiday Taxis business jumps 50% https://dev.traveldailymedia.com/holiday-taxis-business-jumps-50/ https://dev.traveldailymedia.com/holiday-taxis-business-jumps-50/#comments Sat, 26 Nov 2011 10:10:38 +0000 http://localhost/tdmed/?p=118539 The post Holiday Taxis business jumps 50% appeared first on TD (Travel Daily Media) Brand TD.

Holiday Taxis has seen its business increase 50% thisyear following a shift in its prices and trade sales push. The transfers providerrecently took on a new BDM (see TDUK staff appointments in e-magazine on 24/11/11) to support further salesand is set to continue expanding its trade sales team. “Our continued drive anddesire to work with […]

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Holiday Taxis has seen its business increase 50% thisyear following a shift in its prices and trade sales push. The transfers providerrecently took on a new BDM (see TDUK staff appointments in e-magazine on 24/11/11) to support further salesand is set to continue expanding its trade sales team.

“Our continued drive anddesire to work with further trade partners in the UK, and securing highermarket shares within those Partners who we have worked with historically, aretestament to the pricing strategy that we rolled out 12-18 months back -bespoke pricing by Partner,” said Ian Coyle, sales and marketing director atHoliday Taxis. “At the same time, we will ensure that our quality of productand service delivery is absolutely second to none in our sector of the market”.

He added the company will look to increase its mutual transfer volumes via itstrade distribution and partnerships.

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Thomas Cook shares plummet after loan talks https://dev.traveldailymedia.com/thomas-cook-shares-plummet-after-loan-talks/ https://dev.traveldailymedia.com/thomas-cook-shares-plummet-after-loan-talks/#respond Sat, 26 Nov 2011 10:10:38 +0000 http://localhost/tdmed/?p=118531 The post Thomas Cook shares plummet after loan talks appeared first on TD (Travel Daily Media) Brand TD.

Shares in Thomas Cook dropped more than 75% this morning after the travel company announced it is in talks with banks to borrow more money. Difficulties in Egypt, Thailand and Tunisia had caused the travel firm to see a ‘deterioration of trading in some areas of the business’ and the company is now hoping to […]

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Shares in Thomas Cook dropped more than 75% this morning after the travel company announced it is in talks with banks to borrow more money. Difficulties in Egypt, Thailand and Tunisia had caused the travel firm to see a ‘deterioration of trading in some areas of the business’ and the company is now hoping to secure more credit following an

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Industry responds to airline ‘axe tax’ announcement https://dev.traveldailymedia.com/industry-responds-to-airline-axe-tax-announcement/ https://dev.traveldailymedia.com/industry-responds-to-airline-axe-tax-announcement/#comments Sat, 26 Nov 2011 10:10:38 +0000 http://localhost/tdmed/?p=118522 The post Industry responds to airline ‘axe tax’ announcement appeared first on TD (Travel Daily Media) Brand TD.

Yesterday the UK’s top airlines put aside their differences to urge the government toscrap APD to help more families afford a holiday and boost tourism, jobs and investment in the UK. Several industry heads sent through their responses to the announcement and they all welcomed the united and high-profile approach. “It is a measure of […]

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Yesterday the UK’s top airlines put aside their differences to urge the government toscrap APD to help more families afford a holiday and boost tourism, jobs and investment in the UK. Several industry heads sent through their responses to the announcement and they all welcomed the united and high-profile approach.

“It is a measure of the industry’s concern to see often conflicting airlines coming together like this to communicate a message of the utmost urgency and significance,” said Hugo Burge,CEO at Cheap flights. “Air Passenger Duty has the potential to cripple vitally-needed growth in the UK aviation industry – it has already deterred UK travelers, who now have to pay up to

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Shanghai plans to develop China’s Broadway https://dev.traveldailymedia.com/shanghai-plans-to-develop-chinas-broadway/ https://dev.traveldailymedia.com/shanghai-plans-to-develop-chinas-broadway/#comments Sat, 26 Nov 2011 11:06:54 +0000 http://localhost/tdmed/?p=119925 The post Shanghai plans to develop China’s Broadway appeared first on TD (Travel Daily Media) Brand TD.

Old industrial buildings on the banks of Shanghai’s Huangpu River could be converted to form “China’s Broadway”, officials said yesterday. China’s news agency, Xinhua reported the Bureau of Planning & Land Resources for Shanghai’s Xuhui district, as saying that the new 70,000m

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Old industrial buildings on the banks of Shanghai’s Huangpu River could be converted to form “China’s Broadway”, officials said yesterday.

China’s news agency, Xinhua reported the Bureau of Planning & Land Resources for Shanghai’s Xuhui district, as saying that the new 70,000m

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Maharashtra to invest US$60 billion in Mumbai https://dev.traveldailymedia.com/maharashtra-to-invest-us60-billion-in-mumbai/ https://dev.traveldailymedia.com/maharashtra-to-invest-us60-billion-in-mumbai/#comments Sun, 27 Nov 2011 00:58:31 +0000 http://localhost/tdmed/?p=120466 The post Maharashtra to invest US$60 billion in Mumbai appeared first on TD (Travel Daily Media) Brand TD.

The Maharashtra government has decided to invest US$60 billion over the next 20 years to build infrastructure and modernise India’s commercial capital Mumbai, reported money control.com. The investment, to be part-funded through public-private partnerships, is expected to boost the city’s housing, transport, power and tourism industries, among others, said Ratnakar Gaikwad, Chief Secretary of Maharashtra. […]

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The Maharashtra government has decided to invest US$60 billion over the next 20 years to build infrastructure and modernise India’s commercial capital Mumbai, reported money control.com. The investment, to be part-funded through public-private partnerships, is expected to boost the city’s housing, transport, power and tourism industries, among others, said Ratnakar Gaikwad, Chief Secretary of Maharashtra. “The investment is intended for holistic development of the entire Mumbai region, including the hinterland,” he said on the sidelines of a conference organised by the India Economic Summit. Mumbai is a major gateway city for tourism in India.

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THAI returns to profit in Q3 https://dev.traveldailymedia.com/thai-returns-to-profit-in-q3/ https://dev.traveldailymedia.com/thai-returns-to-profit-in-q3/#comments Sat, 26 Nov 2011 11:06:54 +0000 http://localhost/tdmed/?p=119691 The post THAI returns to profit in Q3 appeared first on TD (Travel Daily Media) Brand TD.

Thai Airways International (THAI) has returned to the black in Q3 2011. The national carrier posted a net profit of THB2.4 million (US$79.3 million) for the three months ending 30 September, compared to a loss of THB15.0 million in the same period last year. The result was achieved following a 10.0% rise in revenue, to […]

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The post THAI returns to profit in Q3 appeared first on TD (Travel Daily Media) Brand TD.

Thai Airways International (THAI) has returned to the black in Q3 2011. The national carrier posted a net profit of THB2.4 million (US$79.3 million) for the three months ending 30 September, compared to a loss of THB15.0 million in the same period last year. The result was achieved following a 10.0% rise in revenue, to THB49.96 billion, as passenger traffic increased 4.3% year-on-year.

Year-to-date however, THAI posted a net loss of THB4.8 million, compared to a THB12.0 million profit in the first nine months of 2010.

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JAL posts profits in first half https://dev.traveldailymedia.com/jal-posts-profits-in-first-half/ https://dev.traveldailymedia.com/jal-posts-profits-in-first-half/#comments Sat, 26 Nov 2011 11:06:54 +0000 http://localhost/tdmed/?p=119575 The post JAL posts profits in first half appeared first on TD (Travel Daily Media) Brand TD.

The JAL Group (JAL) has reported an operating profit of JPY106.1 billion (US$1.3 billion)from JPY599.8 billion in operating revenue and a net profit of JPY97.4 billion for the first half of FY2011. This represents an improved financial performance compared to a year earlier. Management successfully increased business productivity following a significant restructuring programme which saw […]

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The JAL Group (JAL) has reported an operating profit of JPY106.1 billion (US$1.3 billion)from JPY599.8 billion in operating revenue and a net profit of JPY97.4 billion for the first half of FY2011. This represents an improved financial performance compared to a year earlier. Management successfully increased business productivity following a significant restructuring programme which saw the withdrawal of unprofitable routes, continuous review of the Group’s route network and fleet, reductions in fuel expenses and other fixed costs, as well as the introduction of a new revenue management system.

Performance through this period was severely affected by the earthquakes in March. Capacity on international routes was cut by 28.2% and demand fell 34.9% compared to the same period last year while the overall load factor is 7.0 percentage points down to 68.0%. The drop in demand on domestic routes was easier at 22.7%. Set against a capacity cut of 23%, load factors actually rose 0.2 points to 62.5%.

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Ezeego1 reaches out to rural India https://dev.traveldailymedia.com/ezeego1-reaches-out-to-rural-india/ https://dev.traveldailymedia.com/ezeego1-reaches-out-to-rural-india/#respond Sat, 26 Nov 2011 11:06:54 +0000 http://localhost/tdmed/?p=119545 The post Ezeego1 reaches out to rural India appeared first on TD (Travel Daily Media) Brand TD.

Meta search site, Eezego1, is distributing its products across Northeast India as it looks to reach out to tier II and tier II markets. Given the limits to internet literacy, particularly in rural India, this move was taken to give the Ezeego1 access to millions more customers. It has partnered with Srei Sahaj, a subsidiary […]

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Meta search site, Eezego1, is distributing its products across Northeast India as it looks to reach out to tier II and tier II markets. Given the limits to internet literacy, particularly in rural India, this move was taken to give the Ezeego1 access to millions more customers.

It has partnered with Srei Sahaj, a subsidiary of SREI Infrastructure Finance Limited, which has 20,000 retail outlets across the region. Through these outlets, the online travel company will offer air tickets, holiday packages and hotel bookings to those customers who do not have credit or debit cards, net banking accounts or do not have access to computers to purchase a ticket. The facility will also aid customers who would prefer opting for cash transactions over online. Through Sahaj Common Service Centres (CSCs), it can now deliver its services to travellers in the remotest corner of West Bengal, Assam, Uttar Pradesh, Bihar, Tamil Nadu and Odisha states. Sahaj customers can directly pay cash at the CSCs various Eezego1 travel products.

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Fuel surcharges to drop in China https://dev.traveldailymedia.com/fuel-surcharges-to-drop-in-china/ https://dev.traveldailymedia.com/fuel-surcharges-to-drop-in-china/#comments Sat, 26 Nov 2011 11:06:54 +0000 http://localhost/tdmed/?p=119469 The post Fuel surcharges to drop in China appeared first on TD (Travel Daily Media) Brand TD.

Fuel surcharges on domestic flights in China are set to drop after the government cut the cost of jet fuel for the third time this year. The National Development and Reform Commission (NDRC), China’s top economic planning body, has cut ex-factory jet fuel prices to CNY7,277 (US$1,150) a tonne from CNY7,501. Analysts told Chinese state […]

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Fuel surcharges on domestic flights in China are set to drop after the government cut the cost of jet fuel for the third time this year. The National Development and Reform Commission (NDRC), China’s top economic planning body, has cut ex-factory jet fuel prices to CNY7,277 (US$1,150) a tonne from CNY7,501. Analysts told Chinese state media that fuel surcharges on domestic routes may be cut by up to CNY30 in the coming days as a result. Surcharges on sectors over 800km currently stand at CNY140.

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Culture to become pillar of Chinese economy https://dev.traveldailymedia.com/culture-to-become-pillar-of-chinese-economy/ https://dev.traveldailymedia.com/culture-to-become-pillar-of-chinese-economy/#comments Sat, 26 Nov 2011 11:06:54 +0000 http://localhost/tdmed/?p=119096 The post Culture to become pillar of Chinese economy appeared first on TD (Travel Daily Media) Brand TD.

China culture sector will become a key part of the country’s economy in the next few years, accounting for up to 5% of GDP by 2016. This is the view of China’s Minister of Culture, Cai Wu who told Xinhua in a recent interview that a new national cultural reform bill will boost the development […]

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China culture sector will become a key part of the country’s economy in the next few years, accounting for up to 5% of GDP by 2016. This is the view of China’s Minister of Culture, Cai Wu who told Xinhua in a recent interview that a new national cultural reform bill will boost the development of the sector.

“The goal of reform is to cultivate qualified market entities from the government-run commercial cultural organisations and establish a modern and influential cultural industry system,” Cai told the state-run news agency.

China’s cultural sector amounted to more than CNY1.1 trillion (US$171.7 billion) in 2010, or 2.8% of GDP. Cai now wants to almost double this contribution, saying that emphasis must be placed on the development of “books, newspapers and magazines, digital audio and video publications, performing, entertainment, TV series and movies, and cartoons”.

He also called for the increased promotion of Chinese culture worldwide, as well as stressing the need for China to “actively absorb and learn the excellent achievements of foreign cultures”.

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Economic data questions value of RWC https://dev.traveldailymedia.com/economic-data-questions-value-of-rwc/ https://dev.traveldailymedia.com/economic-data-questions-value-of-rwc/#comments Sat, 26 Nov 2011 11:06:54 +0000 http://localhost/tdmed/?p=118989 The post Economic data questions value of RWC appeared first on TD (Travel Daily Media) Brand TD.

Critics in New Zealand are again raising questions over the alleged benefits of international sporting events. Recent data published by the Bank of New Zealand shows no ‘bounce’ in economic activity as a result of the Rugby World Cup (RWC). In fact the Performance Service Index, which includes tourism, actually recorded a 0.6% decline in […]

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Critics in New Zealand are again raising questions over the alleged benefits of international sporting events. Recent data published by the Bank of New Zealand shows no ‘bounce’ in economic activity as a result of the Rugby World Cup (RWC). In fact the Performance Service Index, which includes tourism, actually recorded a 0.6% decline in economic growth during September.

Business New Zealand Chief Executive, Phil O’Reilly, told the National Business Review; “While Rugby World Cup games throughout the country over September have brought some businesses additional sales, others have lost out through consumers diverting spending from normal activities.”

One national bank analyst argues, however, that so many other factors like earthquakes and global economic uncertainty must be factored into the equation, thus these figures do not necessarily suggest the RWC has had zero impact.

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Global aviation demand slows https://dev.traveldailymedia.com/global-aviation-demand-slows-2/ Wed, 05 Oct 2011 11:30:00 +0000 http://www.traveldailymedia.com/?p=20012 The post Global aviation demand slows appeared first on TD (Travel Daily Media) Brand TD.

Global demand for air travel increased 4.5% year-on-year in August 2011, according to the latest data from IATA, representing a significant slowdown from the 6.0% growth recorded in July. While still registering annualised growth, the decline in passenger demand from July to August 2011 is notable, with traffic dropping 1.6% month-on-month. International markets declined by […]

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The post Global aviation demand slows appeared first on TD (Travel Daily Media) Brand TD.

Global demand for air travel increased 4.5% year-on-year in August 2011, according to the latest data from IATA, representing a significant slowdown from the 6.0% growth recorded in July. While still registering annualised growth, the decline in passenger demand from July to August 2011 is notable, with traffic dropping 1.6% month-on-month. International markets declined by 1.8%, while already weak domestic markets shrank by 1.0%. Passenger load factors remained high at 81.4%, but still registered a 1.3% decline compared to July.

“The industry has shifted gears downward. The pace of growth in passenger markets has dipped and the freight business is now shrinking at a faster pace. With business and consumer confidence continuing to slump globally there is not a lot of optimism for improved conditions any time soon,” said Tony Tyler, IATA’s Director General & CEO.

International passenger demand was up 6.2% in August compared to the previous year. When compared to July however, demand contracted by 1.8%. Asia Pacific carriers reported 5.3% demand growth for August, slightly below a 5.6% capacity expansion. This is slightly better than the year-to-date growth of 4.4%, reflecting the recovery in Japanese international travel. Load factors of 78.9% were below the industry average of 81.2%.

European airlines achieved the strongest growth in international passenger traffic in August with a 7.9% increase, just slightly below a capacity expansion of 8.2%. Although domestic economies and leisure travel are weak, strong exports have led to increased business travel on international markets. Load factors of 83.9% were at historically high levels. While the August growth was the strongest in the industry, IATA noted that this is below the 10.6% demand expansion reported for the first eight months of the year indicating that markets are softening.

Middle Eastern carriers recorded the second highest demand growth at 6.7%, behind capacity expansion of 7.6%, leaving load factors down at 76.2%. North American carriers reported the weakest performance with growth of just 2.9%, which was partly a result of equally slow growth in capacity. This is a sharp downturn from stronger growth earlier in the year, as reflected in the 5.6% year-to-date demand expansion. The region’s carriers posted the highest load factor at 86.1%.

Latin American carriers reported 5.6% growth for August, behind their 7.1% capacity expansion. This is well below the 10.9% demand growth recorded over the first eight months of the year. Load factors stood at 76.9%. Finally African carriers reported 5.2% demand growth against a capacity expansion of 6.3%. The continent’s carriers had the lowest load factor at 70.0%.

In terms of domestic traffic, demand in August shrank by 1.0% compared to July, which brought the annualised August 2011 growth rate down to 1.5%. The largest source of weakness in absolute terms was the 0.3% fall in the US compared to the previous year. US domestic travel accounts for about half of all domestic travel.

Japanese domestic demand was down 12.4% compared to the previous August, but traffic has now recovered to within 9% of pre-earthquake and tsunami levels. Chinese domestic travel demand was up only 2.8% on the previous August. While positive, it is well below the double-digit growth seen in 2009 and for much of 2010. India recorded demand growth of 19.7%, the top performer among domestic markets.

IATA stated that August’s traffic results are in line with expectations for a decline in profitability heading into 2012. Airlines are expected to see total industry profits fall from US$6.9 billion in 2011 to US$4.9 billion. Historically, the airline industry has delivered collective losses when GDP growth (measured using current exchange rates) falls below 2.0%. GDP growth has fallen from 3.9% in 2010, to an expected 2.5% this year and 2.4% is projected for 2012.

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MCVB announces record-breaking year https://dev.traveldailymedia.com/mcvb-announces-record-breaking-year/ Tue, 04 Oct 2011 13:00:00 +0000 http://www.traveldailymedia.com/?p=10846 The post MCVB announces record-breaking year appeared first on TD (Travel Daily Media) Brand TD.

Melbourne Convention and Visitors Bureau (MCVB) achieved record-breaking results in the 2010/11 financial year. The bureau helped secure 245 events over the 12 months, marking a 37% year on year increase. These events are expected to deliver 92,236 delegates to Melbourne in the coming years and generate in excess of AU$354 million (US$336 million) for […]

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The post MCVB announces record-breaking year appeared first on TD (Travel Daily Media) Brand TD.

Melbourne Convention and Visitors Bureau (MCVB) achieved record-breaking results in the 2010/11 financial year. The bureau helped secure 245 events over the 12 months, marking a 37% year on year increase. These events are expected to deliver 92,236 delegates to Melbourne in the coming years and generate in excess of AU$354 million (US$336 million) for the state economy. These figures represent an increase of 28% and 32% from 2009/10 respectively.

One of MCVB’s most significant wins in the 2010/11 financial year was the World Congress of Cardiology, scheduled for 2014, which is one of the largest medical conferences in the world. It also secured one of its largest incentive groups since the Incentive and Corporate Travel department was established in 2006. The Amway India Leadership Seminar is set to bring more than 4,400 delegates to Melbourne in 2012.

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American Airlines denies bankruptcy reports https://dev.traveldailymedia.com/american-airlines-denies-bankruptcy-reports/ Tue, 04 Oct 2011 08:27:00 +0000 http://www.traveldailymedia.com/?p=10835 The post American Airlines denies bankruptcy reports appeared first on TD (Travel Daily Media) Brand TD.

American Airlines has denied reports that its parent company, AMR Corp, could file for bankruptcy protection. The carrier is reportedly struggling with high fuel and labour costs, and has seen approximately 200 pilots leave in the past few months. AMR Corp posted a loss of US$286 million for the second quarter of 2011. The AFP […]

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The post American Airlines denies bankruptcy reports appeared first on TD (Travel Daily Media) Brand TD.

American Airlines has denied reports that its parent company, AMR Corp, could file for bankruptcy protection. The carrier is reportedly struggling with high fuel and labour costs, and has seen approximately 200 pilots leave in the past few months. AMR Corp posted a loss of US$286 million for the second quarter of 2011.

The AFP reported the company as saying yesterday that there was no truth in the bankruptcy rumours, and that a court-guided restructuring was “not our goal or our preference”.

This didn’t ease the fears of investors however. The company’s stock was down 33.1% at US$1.98 yesterday.

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Islands Stay Hotels plots growth course https://dev.traveldailymedia.com/islands-stay-hotels-plots-growth-course/ Mon, 03 Oct 2011 16:00:00 +0000 http://www.traveldailymedia.com/?p=10811 The post Islands Stay Hotels plots growth course appeared first on TD (Travel Daily Media) Brand TD.

Islands Group is looking to franchisees to spur growth of its Islands Stay hotel brand across the Philippines. The “value-chic” properties were only launched in Cebu quite recently, but 85% occupancy rates during the soft opening have spurred growth ambitions. Targeting independent travellers in search of value, the two properties have posted a walk-in rate […]

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The post Islands Stay Hotels plots growth course appeared first on TD (Travel Daily Media) Brand TD.

Islands Group is looking to franchisees to spur growth of its Islands Stay hotel brand across the Philippines. The “value-chic” properties were only launched in Cebu quite recently, but 85% occupancy rates during the soft opening have spurred growth ambitions. Targeting independent travellers in search of value, the two properties have posted a walk-in rate of 50%. Islands Group Chief Executive Officer Jay Aldeguer attributes the trend to a gap in the market for this kind of accommodation. Aldeguer told the Manila Bulletin Publishing Corporation that his firm aims to build a presence in various domestic tourism destinations like Baguio, Bohol, and Palawan through franchise or company-owned operations. He added that investors have also expressed interest in taking the brand to China and India.

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Business travel set to boom: survey https://dev.traveldailymedia.com/business-travel-set-to-boom-survey/ Thu, 27 Oct 2011 19:46:52 +0000 http://www.traveldailymedia.com/?p=60620 The post Business travel set to boom: survey appeared first on TD (Travel Daily Media) Brand TD.

Nearly a third of those working in the travel industry expect to travel more for business in the next six months, according to a new survey. Property and leisure and entertainment sectors are more confident about their level of business travel in the six month period, while only 29% of travel workers expect to go […]

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The post Business travel set to boom: survey appeared first on TD (Travel Daily Media) Brand TD.

Nearly a third of those working in the travel industry expect to travel more for business in the next six months, according to a new survey. Property and leisure and entertainment sectors are more confident about their level of business travel in the six month period, while only 29% of travel workers expect to go on corporate trips more often. The statistics, released by Mapfre Assistance, also showed that 17% of those in travel think they will take less trips in the next six months, which means 54% think it will remain the same. “There is a noticeable difference between the confidence levels of business travellers in different sectors, which should give business travel agencies an indicator as to where they should focus their efforts in the coming months,” said Leire Jimenez, head of B2B travel at Mapfre. “The difference between the responses by sector demonstrates that we are still in very uncertain economic times and we expect there to be keen competition between business travel firms for companies in the most optimistic sector”. Business travellers in the professional services, retail and education felt they were most likely to reduce their corporate travel in the next six months.

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US, Europe debt crisis to hurt India tourism https://dev.traveldailymedia.com/us-europe-debt-crisis-to-hurt-india-tourism/ Mon, 24 Oct 2011 19:17:02 +0000 http://www.traveldailymedia.com/?p=19759 The post US, Europe debt crisis to hurt India tourism appeared first on TD (Travel Daily Media) Brand TD.

The ongoing debt crisis in the US and Europe is expected to impact inbound tourism into India this season, according to hoteliers and travel companies reported rediff.com. “”There is definitely going to be an impact on inbound tourism this season, as it was in 2008. The smell in the wind is the same. Especially in […]

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The post US, Europe debt crisis to hurt India tourism appeared first on TD (Travel Daily Media) Brand TD.

The ongoing debt crisis in the US and Europe is expected to impact inbound tourism into India this season, according to hoteliers and travel companies reported rediff.com. “”There is definitely going to be an impact on inbound tourism this season, as it was in 2008. The smell in the wind is the same. Especially in the case of Europeans coming to India, as they will start travelling within Europe and take short holidays,” said Dipal Deva, CEO, India and South Asia for Kuoni Travel India Destination Management.

There could be at least 8-10 per cent dip in total inbound tourists, especially those coming from the United Kingdom, Italy, France and Spain. The loss, however, will be partly offset by tourists coming from Asian countries such as Korea, the Philippines, Vietnam, Russia and the Middle East, Deva said. Usually, foreign tourists visit India during the autumn and winter seasons. “There was an expectation that global economies would see a recovery in 2011. Unfortunately, this is not happening. “Global economies and the economic environment are volatile and the world is confronted with economic uncertainties which could impact the company’s business,” according to P R S Oberoi Chairman of EIH Ltd.

Recently, ratings agency S&P had downgraded the US’s credit rating, while many countries in Europe, including Spain, Italy and Greece, continue to reel under a debt crisis, thereby raising questions over the health of the global economy. In such a scenario, business travel is likely to be hit more than leisure tourism, industry players pointed out. “In situations like these (economic crisis), business travel gets affected first. There is not expected to be much slowdown in leisure travel, but business travel is likely to come down,” said Cleartrip.com CMO Niraj Seth.

Given the global uncertainties, hospitality firms are focusing on the growth of domestic tourism. “Since we cannot keep waiting for inbound tourists for the growth of the sector, we have to focus on domestic tourism. Situations like the UK (riots) and Europe (debt crisis) will keep happening,” said Jyotsna Suri, CMD of Bharat Hotels. In 2010, 55.83 lakh foreign tourists visited India, a growth of 8.1 per cent compared to 2009.
As per Tourism Ministry data, foreign tourist arrivals during the January-July, 2011, period stood at 34.17 lakh, a growth of 10.8 per cent from 30.85 lakh in the same period last year. This year’s growth is more than the 8.2 per cent growth clocked during January-July, 2010, vis-a-vis the corresponding period of 2009. “This indicates that inbound tourism is on the upswing once again. We at Cox & Kings have also witnessed good growth during this period,” Peter Kerkar, Director of Cox & Kings.

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Airfares to Delhi soar 200% ahead of F1 https://dev.traveldailymedia.com/airfares-to-delhi-soar-200-ahead-of-f1/ Mon, 24 Oct 2011 19:17:02 +0000 http://www.traveldailymedia.com/?p=19716 The post Airfares to Delhi soar 200% ahead of F1 appeared first on TD (Travel Daily Media) Brand TD.

Airfares to Delhi have shot up by 200% across all sectors ahead of the Indian F1 to be held 28-31 October 2011. A return trip from Mumbai to Delhi has shown the highest spurt, with fares up by 100-200% to US$316-464 (INR 15,000-22,000), from an average of US$147 (INR 7,000). Notably, these fares are for […]

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The post Airfares to Delhi soar 200% ahead of F1 appeared first on TD (Travel Daily Media) Brand TD.

Airfares to Delhi have shot up by 200% across all sectors ahead of the Indian F1 to be held 28-31 October 2011. A return trip from Mumbai to Delhi has shown the highest spurt, with fares up by 100-200% to US$316-464 (INR 15,000-22,000), from an average of US$147 (INR 7,000). Notably, these fares are for low cost carriers, and for travel on 28 October morning (in time to reach the F1 venue) and return on October 30 late night, right after the event is over. During the same period, the average hike for other sectors (Bengaluru, Pune, Hyderabad, Chennai) to Delhi ranges 20-25%, while flight and hotel packages are up by 50%, reported Times of India.

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International arrivals growth defies economic uncertainty https://dev.traveldailymedia.com/international-arrivals-growth-defies-economic-uncertainty/ Mon, 24 Oct 2011 10:08:29 +0000 http://www.traveldailymedia.com/?p=9950 The post International arrivals growth defies economic uncertainty appeared first on TD (Travel Daily Media) Brand TD.

International tourism grew by almost 5% in the first half of 2011 reaching a new record of 440 million arrivals. While the number of international arrivals continues to grow this year, consolidating the global recovery, it is doing so at a slower rate than 2010 as the industry faces multiple challenges. Data from the UNWTO […]

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The post International arrivals growth defies economic uncertainty appeared first on TD (Travel Daily Media) Brand TD.

International tourism grew by almost 5% in the first half of 2011 reaching a new record of 440 million arrivals. While the number of international arrivals continues to grow this year, consolidating the global recovery, it is doing so at a slower rate than 2010 as the industry faces multiple challenges.

Data from the UNWTO shows International tourist arrivals have grown by 4.5% in the first half of 2011, consolidating the 6.6% increase registered in 2010. Between January and June of this year, the total number of arrivals reached 440 million, 19 million more than in the same period of 2010.

UNWTO Secretary-General, Taleb Rifai (pictured), says continued growth of tourism in an uncertain economy makes the case for governments to consider tourism as a priority in national policy making.

‘Tourism can play a key role in terms of economic growth and development, particularly at a moment when many economies, for the most part in Europe and North America, struggle for recovery and job creation,” he said.

Looking at growth at a regional level, international arrivals across the Asia Pacific climbed at a steady 5% compared to 13% in 2010. This is slightly slower than the Americas (+6%) and Europe (+6%), which actually benefited from political unrest across North Africa and the Middle East. This cooling of Asia Pacific arrivals growth is down to a string of serious natural disasters in the region and waning outbound travel from traditional source markets like America, Europe and Japan.

Following an encouraging first half of 2011, the UNWTO warns that growth in the remainder of the year is expected to soften as recent months have witnessed heightened economic uncertainty, hampering business and consumer confidence.

“We must remain cautious as the global economy is showing signs of increased volatility,” said Rifai. “Many advanced economies still face risks posed by weak growth, fiscal problems and persistently high unemployment. Simultaneously, signs of overheating have become apparent in some emerging economies. Restoring sustained and balanced economic growth remains a major task”.

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Lonely Planet, Visa create new travel site https://dev.traveldailymedia.com/lonely-planet-visa-create-new-travel-site/ Mon, 24 Oct 2011 10:08:29 +0000 http://www.traveldailymedia.com/?p=9020 The post Lonely Planet, Visa create new travel site appeared first on TD (Travel Daily Media) Brand TD.

Lonely Planet and Visa have joined forces to create a new travel microsite offering information on destinations and how to access money abroad. The site, located at visa.com/lonelyplanet offers destination and travel money advice on 12 destinations; Australia, China, Croatia, Egypt, Lebanon, Morocco, Russia, Singapore, South Africa, Thailand, the UAE and Ukraine. The site includes […]

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The post Lonely Planet, Visa create new travel site appeared first on TD (Travel Daily Media) Brand TD.

Lonely Planet and Visa have joined forces to create a new travel microsite offering information on destinations and how to access money abroad. The site, located at visa.com/lonelyplanet offers destination and travel money advice on 12 destinations; Australia, China, Croatia, Egypt, Lebanon, Morocco, Russia, Singapore, South Africa, Thailand, the UAE and Ukraine.

The site includes an ATM locator, suggested trip itineraries and a calendar of events for each destination. Visitors will also be able to ‘Ask the Expert’ questions regarding their trip and receive individual responses from Lonely Planet. There is also a free desktop application which includes a countdown clock, local weather and currency information, while a series of 12 ‘Just Landed’ destination guides are available to download from the site.

Ross Jackson, Visa’s Head of Cross-Border Business for Asia Pacific, Central Europe, Middle East & Africa said; “Our travel research indicated that seven out of 10 of travellers use the internet as their primary channel for planning their holidays. The challenge though, is finding up-to-date and reliable information. By teaming up with Lonely Planet, we are able to provide trusted, accurate and up to date information for travellers to plan their holiday.”

Lonely Planet’s Business Development Manager, Addy Cutts added; “Travellers often come to Lonely Planet with queries about the best way to access their money abroad and so this partnership allows us to offer our expert travel advice with specific payment detail provided by Visa. The microsite will enable travellers to access Lonely Planet’s specially produced content for 12 destinations accompanied by Visa’s money tips to provide travellers with detailed information on how to access their money abroad securely.”

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Travelsavers Ireland to host networking lunches https://dev.traveldailymedia.com/travelsavers-ireland-to-host-networking-lunches/ Thu, 03 Nov 2011 00:05:27 +0000 http://localhost/tdmed/?p=117213 The post Travelsavers Ireland to host networking lunches appeared first on TD (Travel Daily Media) Brand TD.

Travelsavers Ireland has announced a new networking programme for its licensees. The ‘Lunch ‘n Learn’ series will take place at the Radisson Blu Royal Hotel in Dublin on 15 September, and at the Radisson Blu Hotel & Spa, Galway on 20 September. Lasting just three hours, the meetings are intended to offer Travelsavers’ agencies the […]

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The post Travelsavers Ireland to host networking lunches appeared first on TD (Travel Daily Media) Brand TD.

Travelsavers Ireland has announced a new networking programme for its licensees. The ‘Lunch ‘n Learn’ series will take place at the Radisson Blu Royal Hotel in Dublin on 15 September, and at the Radisson Blu Hotel & Spa, Galway on 20 September. Lasting just three hours, the meetings are intended to offer Travelsavers’ agencies the opportunity to network and gather information from suppliers. The September sessions will focus on the cruise segment, with presentations being conducted by three cruise suppliers.

“Agency owners, managers and frontline agents from around the country will walk away from our events invigorated to sell more cruises,” said Kathryn Mazza-Burney, Travelsavers Ireland’s executive vice president of sales & service. “Through our complete programme of educational sessions, value-added promotions, and the best cruise technology available today, we’re giving our agencies everything they need to have this year be their best ever in the cruise segment.”

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Bahrain group invest in India https://dev.traveldailymedia.com/bahrain-group-invest-in-india/ Mon, 24 Oct 2011 19:17:02 +0000 http://www.traveldailymedia.com/?p=19402 The post Bahrain group invest in India appeared first on TD (Travel Daily Media) Brand TD.

Bahrain-based R P Group of companies plans to invest INR1,000 crore in the hospitality sector in India during this year, a top official was quoted saying.The company’s immediate project is a five-star hotel in Kollam district which would be inaugurated on 19 August, the group Chairman Ravi Pillai was reported saying in an Economic Times […]

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The post Bahrain group invest in India appeared first on TD (Travel Daily Media) Brand TD.

Bahrain-based R P Group of companies plans to invest INR1,000 crore in the hospitality sector in India during this year, a top official was quoted saying.The company’s immediate project is a five-star hotel in Kollam district which would be inaugurated on 19 August, the group Chairman Ravi Pillai was reported saying in an Economic Times report.The group has also set up an international standard 16-storey mall which would have a 74-room four-star hotel on the upper floors.

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Pound vs euro drops 9.5% in a year, says new figures https://dev.traveldailymedia.com/pound-vs-euro-drops-9-5-in-a-year-says-new-figures/ Wed, 02 Nov 2011 15:09:04 +0000 http://localhost/tdmed/?p=116757 The post Pound vs euro drops 9.5% in a year, says new figures appeared first on TD (Travel Daily Media) Brand TD.

Holidaymakers in the eurozone will find that the value of pound sterling against the euro has decreased 9.5% compared to last year, it was revealed today. Although countries such as Spain, Greece and Portugal have remained popular holiday choices this summer, M&S Money has said that many Brits will feel the effect of currency fluctuation […]

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The post Pound vs euro drops 9.5% in a year, says new figures appeared first on TD (Travel Daily Media) Brand TD.

Holidaymakers in the eurozone will find that the value of pound sterling against the euro has decreased 9.5% compared to last year, it was revealed today. Although countries such as Spain, Greece and Portugal have remained popular holiday choices this summer, M&S Money has said that many Brits will feel the effect of currency fluctuation when they are in the destination. Its research also said the sterling had dropped 17% against the Swiss franc, more than 15% on the Australian dollar and more than 5% against South African rand. Meanwhile the Turkish lira and Egyptian pound worked more in Brits’ favour, gaining 11% and 12% respectively. The US dollar and UAE dirham also both gained 7% against the pound.

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On the Beach receives full ATOL protection licence https://dev.traveldailymedia.com/on-the-beach-receives-full-atol-protection-licence/ Wed, 02 Nov 2011 15:09:04 +0000 http://localhost/tdmed/?p=116743 The post On the Beach receives full ATOL protection licence appeared first on TD (Travel Daily Media) Brand TD.

Online travel agency On the Beach has received its full financial protection licence from ATOL and an ATOL/ABTA approved trust fund. The OTA now offers 100% protection including individual elements such as scheduled flights and hotel only and is thought to cover up to 300,000 passengers a year. Flights with low-cost carriers are also covered […]

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The post On the Beach receives full ATOL protection licence appeared first on TD (Travel Daily Media) Brand TD.

Online travel agency On the Beach has received its full financial protection licence from ATOL and an ATOL/ABTA approved trust fund. The OTA now offers 100% protection including individual elements such as scheduled flights and hotel only and is thought to cover up to 300,000 passengers a year. Flights with low-cost carriers are also covered through On the Beach’s airline failure insurance and a new ATOL/ABTA approved On the Beach Trust Fund. The fund will also cover overseas hotel accommodation, transfers, airport parking and car hire. “Financial protection for holidaymakers has been a major topic for some time now and we feel that in the current climate, we must provide even greater financial protection for our customers,” said Wendy Parry, chief financial officer at On the Beach. “Over the past few months, we have developed the perfect solution for our customers having worked with the CAA. Our new ATOL licence and our ATOL/ABTA approved trust fund will allow customers to book in complete confidence, safe in the knowledge that their holiday is 100% protected whatever travel component is booked.”

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Tokyo ranked as world’s second most expensive city https://dev.traveldailymedia.com/tokyo-ranked-as-worlds-second-most-expensive-city/ Mon, 24 Oct 2011 10:08:29 +0000 http://www.traveldailymedia.com/?p=7917 The post Tokyo ranked as world’s second most expensive city appeared first on TD (Travel Daily Media) Brand TD.

Tokyo is the second most expensive city in the world for expatriate living, according to a new survey. The Mercer 2011 Cost of Living Survey showed that Japan was home to two of the 10 priciest cities in the world, with Osaka (6th) joining Tokyo. Nagoya ranked 11th. Joining them at the head of the […]

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The post Tokyo ranked as world’s second most expensive city appeared first on TD (Travel Daily Media) Brand TD.

Tokyo is the second most expensive city in the world for expatriate living, according to a new survey. The Mercer 2011 Cost of Living Survey showed that Japan was home to two of the 10 priciest cities in the world, with Osaka (6th) joining Tokyo. Nagoya ranked 11th. Joining them at the head of the list were Singapore (8th) and Hong Kong (9th). Beijing was the most expensive Chinese city, ranking 20th overall, while the Indian capital New Delhi was 85th. Elsewhere in Asia Pacific, Sydney was 14th, Jakarta 69th, Bangkok 88th, Kuala Lumpur 104th and Hanoi 136th. Karachi was the 214th and least expensive city.

Most Asian cities have moved up in the ranking as availability for expatriate accommodation prices is limited and demand is high.Nathalie Constantin-M

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eNett and Moneydirect in strategic partnership https://dev.traveldailymedia.com/enett-and-moneydirect-in-strategic-partnership/ Thu, 27 Oct 2011 19:46:52 +0000 http://www.traveldailymedia.com/?p=60181 The post eNett and Moneydirect in strategic partnership appeared first on TD (Travel Daily Media) Brand TD.

eNett International, a joint venture between Travelport and PSP International, has entered into a strategic relationship with Moneydirect, an Amadeus and Sabre joint venture.Moneydirect, which is closing its global operations, is now recommending the eNett payments platform to its Australian and New Zealand customers, and the two companies are working together to facilitate a seamless […]

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The post eNett and Moneydirect in strategic partnership appeared first on TD (Travel Daily Media) Brand TD.

eNett International, a joint venture between Travelport and PSP International, has entered into a strategic relationship with Moneydirect, an Amadeus and Sabre joint venture.Moneydirect, which is closing its global operations, is now recommending the eNett payments platform to its Australian and New Zealand customers, and the two companies are working together to facilitate a seamless transition which is expected to be completed by 30 September.eNett International managing director and CEO Anthony Hynes said eNett International was pleased to have entered into a strategic relationship with Moneydirect.”With a substantial client base in Australia and New Zealand already, eNett has the capability and market expertise to seamlessly transition Moneydirect’s customers to its state-of-the-art payments platform,” Hynes said.eNett International’s innovative and integrated payment solutions include credit card processing, electronic funds transfer processing and the recently launched vNett virtual card solution for supplier payments.Moneydirect customers can register to subscribe to the eNett payments platform by visiting www.enett.com or they can email the eNett International Client Support Centre at support@enett.com for more information.eNett International has agreed to honour for the first 12 months the existing fee structure currently used by Moneydirect customers who are not already using eNett International’s payments platform and the two companies will be jointly contacting customers over the coming weeks.

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eNett International partners Moneydirect https://dev.traveldailymedia.com/enett-international-partners-moneydirect/ Mon, 24 Oct 2011 09:24:27 +0000 http://www.traveldailymedia.com/?p=7594 The post eNett International partners Moneydirect appeared first on TD (Travel Daily Media) Brand TD.

eNett International, the travel payment solutions company formed by Travelport and PSP International, has entered into a strategic relationship with Moneydirect, an Amadeus and Sabre joint venture. Moneydirect, which is closing its global operations, is now recommending the eNett payments platform to its Australian and New Zealand customers, and the two companies are working together […]

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The post eNett International partners Moneydirect appeared first on TD (Travel Daily Media) Brand TD.

eNett International, the travel payment solutions company formed by Travelport and PSP International, has entered into a strategic relationship with Moneydirect, an Amadeus and Sabre joint venture.

Moneydirect, which is closing its global operations, is now recommending the eNett payments platform to its Australian and New Zealand customers, and the two companies are working together to facilitate a seamless transition which is expected to be completed by 30 September 2011.

eNett International’s Managing Director & CEO, Anthony Hynes said his company was pleased to be working with Moneydirect.

“With a substantial client base in Australia and New Zealand already, eNett has the capability and market expertise to seamlessly transition Moneydirect’s customers to its state-of-the-art payments platform,” Hynes said.

eNett International’s payment solutions include credit card processing, electronic funds transfer processing and the recently launched vNett virtual card solution for supplier payments.

Moneydirect customers can register to subscribe to the eNett payments platform by visiting www.enett.com or by emailing the eNett International Client Support Centre at support@enett.com.

eNett International has agreed to honour for the first 12 months the existing fee structure currently used by Moneydirect customers who are not already using eNett International’s payments platform and the two companies will be jointly contacting customers over the coming weeks.

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‘Positive’ air traffic results for May: IATA https://dev.traveldailymedia.com/positive-air-traffic-results-for-may-iata-2/ Thu, 27 Oct 2011 19:46:52 +0000 http://www.traveldailymedia.com/?p=60135 The post ‘Positive’ air traffic results for May: IATA appeared first on TD (Travel Daily Media) Brand TD.

Global air passenger traffic for May increased 6.8% year on year, the latest figures from the International Air Transport Association (IATA) have revealed.This figure was 4% higher than at the beginning of the year. “We saw positive developments for the air transport volumes in May,” said IATA Director General and CEO Giovanni Bisignani (pictured).”International passenger […]

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The post ‘Positive’ air traffic results for May: IATA appeared first on TD (Travel Daily Media) Brand TD.

Global air passenger traffic for May increased 6.8% year on year, the latest figures from the International Air Transport Association (IATA) have revealed.This figure was 4% higher than at the beginning of the year. “We saw positive developments for the air transport volumes in May,” said IATA Director General and CEO Giovanni Bisignani (pictured).”International passenger load factors rebounded by 0.8 percentage points to 75.8%. Freight volumes improved by 1.2% over April and passenger volumes were up by 1.8%. “These will help to alleviate some of the pressure on profits from continued high fuel prices.”However, he did warn there were “risks associated with political unrest in the Middle East and the European currency crisis”. “We still expect the industry to make $4 billion this year. That is a pathetic 0.7% margin and another shock could alter the industry’s fortunes dramatically. It’s another tough year for a very fragile industry.”Asia Pacific carriers recorded an expansion of 4.7%, considerably below the global average of 8%. This was due to continuing weakness in the post-earthquake/tsunami Japanese market, said IATA. Compared to May 2010, capacity expanded 5% and the load factor fell slightly to 73.4%.Middle East carriers grew international traffic by 7.8% over May 2010, slightly below a 9.6% capacity expansion that saw load factors slip to 70.8%. While political unrest continues to have a dramatic impact on several of the region’s smaller markets, the overall impact on the region’s carriers is very limited.

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Finance Ministry not giving Air India “unexamined figure” https://dev.traveldailymedia.com/finance-ministry-not-giving-air-india-unexamined-figure/ Mon, 24 Oct 2011 19:17:02 +0000 http://www.traveldailymedia.com/?p=18946 The post Finance Ministry not giving Air India “unexamined figure” appeared first on TD (Travel Daily Media) Brand TD.

Beleaguered Air India may not get even half of the INR 800-crore it has sought from the government for flying VVIPs abroad, as the finance ministry thinks it is an “unexamined figure” . Economic Times said the cash-strapped national carrier , which has been unable to pay the April and May salaries of its 40,000 […]

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The post Finance Ministry not giving Air India “unexamined figure” appeared first on TD (Travel Daily Media) Brand TD.

Beleaguered Air India may not get even half of the INR 800-crore it has sought from the government for flying VVIPs abroad, as the finance ministry thinks it is an “unexamined figure” . Economic Times said the cash-strapped national carrier , which has been unable to pay the April and May salaries of its 40,000 employees, had estimated an expenditure of INR 800 crore for flying VVIPs abroad over two years.Recently, the government released INR250 crore to the airline to clear a part of its fuel bills. “The finance ministry says the Rs 800 crore is an unexamined figure and has indicated that it will release only about INR 100 crore more. It has asked us to suggest cheaper alternatives to carry out VVIP operations ,” a senior official at the civil aviation ministry told the paper.The government was even looking into whether the air force would be a cheaper option for such operations, the official was quoted saying.”These are audited figures, which we have arrived at after following all operational standards,” a senior Air India official had said.The airline, which is INR 40,000 crore in debt, made losses of INR 5,500 crore last fiscal year. It has been asked by the finance ministry to produce an effective turnaround plan before more equity can be infused or a letter of comfort issued by the government, the report said.Since 2003, a specially designed and equipped Boeing 747-437 B has been used to fly the prime minister, president and the vice-president abroad. There are three A-330 aircraft permanently configured for VVIP movement. “A Boeing 777 could be a cheaper option for the government,” the aviation ministry official was quoted saying.

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Asian destinations hold key to global economic shift https://dev.traveldailymedia.com/asian-destinations-hold-key-to-global-economic-shift/ Mon, 24 Oct 2011 09:09:29 +0000 http://www.traveldailymedia.com/?p=1063 The post Asian destinations hold key to global economic shift appeared first on TD (Travel Daily Media) Brand TD.

Destinations in Asia Pacific are key players in the movement of the world economy in favour of emerging market cities, according to the MasterCard Index of Global Destination Cities released today. The latest Index from MasterCard is aimed at understanding the flow of commerce across the world. It ranks cities by their total international visitor […]

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Destinations in Asia Pacific are key players in the movement of the world economy in favour of emerging market cities, according to the MasterCard Index of Global Destination Cities released today.

The latest Index from MasterCard is aimed at understanding the flow of commerce across the world. It ranks cities by their total international visitor arrivals and the cross-border spending by these same visitors in the destination cities, and gives visitor and passenger growth forecasts for 2011. The Index results show that many emerging market cities are showing robust growth with increases in both visitor arrivals and cross-border expenditures, with many showing growth rates exceeding 20%.

Cities in Asia Pacific led the charge globally, having eight of the top 20 cities by international arrivals, with Bangkok ranked third, projected to have 11.5 million visitors this year, followed by Singapore in fourth place with 11.4 million visitors and Hong Kong fifth with 10.9 million visitors. Asia also displayed strong visitor growth for 2011 with Kuala Lumpur ranked second in the world with a 21.8% growth forecast, only behind Barcelona which led with an impressive 24.3%. Istanbul ranked third with 20.4%, followed by Shanghai (18.6%) and Hong Kong (17.4%).

The region also ranked highly on visitor spending with Bangkok ranked fourth globally with US$14.4 billion expected to be spent by inbound passengers in 2011. Sydney ranked sixth with US$13.8 billion, Singapore ranked ninth US$10.8 billion and Hong Kong 10th with US$10.4 billion. Asian cities dominate in terms of expenditure growth rates too, with seven of the top 20 high growth cities in the world heralding from the region, including Singapore (23.9%), Hong Kong (23.6%), Tokyo (20.8%) and Taipei (20.3%).

“This kind of growth pattern strongly suggests that destination cities in emerging markets in Asia will continue to grow in importance,” observed Dr Yuwa Hedrick-Wong, Global Economic Advisor of MasterCard Worldwide.

Overall London topped the world’s cities by visitor numbers with 20.1 million inbound passengers expected in 2011, ahead of Paris in second with 18.1 million. Only one city in North America is in the top 20 – New York – which is ranked 12th with 7.6 million inbound passengers expected.

London also ranked first on cross-border expenditure, ahead of New York in second place, and Paris in third. Estimated expenditures in these cities for 2011 amounted to US$25.6 billion, US$20.3 billion and US$14.6 billion respectively. While cities in Europe and the US still ranked highly in the MasterCard Index of Global Destination Cities, Dr Hedrick-Wong said that emerging market cities in Asia were shaping to play a much greater role in the global economy.

“Growth of outbound travel and expenditures is clearly a resilient secular trend that will continue to shape the future of globalisation,” he said. “As the global centre of economic gravity shifts inexorably to the dynamic emerging markets in Asia, Latin America, Central and Eastern Europe, and Africa, cities there will correspondingly play ever bigger roles in knitting the world together.”

Other Asian highlights included Kuala Lumpur ranking number one in the region for growth in cross-border visitor expenditure, with an expected growth rate of 30.1%. Chinese cities showed prominent visitor growth, with Beijing and Shanghai ranked second and third regionally in terms of visitor growth, with growth rates estimated at 20.2% and 18.6% respectively. Shanghai also ranks second in the region for growth in visitor expenditures with 24.3%. The Philippines meanwhile, was boosted by Manila’s continued growth. The capital is ranked 10th in the Asia Pacific region with three million visitors for 2011, but the city is forecasted to grow significantly: it is ranked sixth in the region with visitor growth of 15.3%.

 

 

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India, China lead global economic recovery: UN https://dev.traveldailymedia.com/india-china-lead-global-economic-recovery-un/ Mon, 24 Oct 2011 19:17:02 +0000 http://www.traveldailymedia.com/?p=18790 The post India, China lead global economic recovery: UN appeared first on TD (Travel Daily Media) Brand TD.

The emerging economies of India, China and Brazil are leading the global economic recovery, according to a UN report released on Wednesday. “The rebound has been led by the large emerging economies in Asia and Latin America, particularly China, India and Brazil,” Economic Times quoted the report.The mid-year issue of the World Economic Situation and […]

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The emerging economies of India, China and Brazil are leading the global economic recovery, according to a UN report released on Wednesday. “The rebound has been led by the large emerging economies in Asia and Latin America, particularly China, India and Brazil,” Economic Times quoted the report.The mid-year issue of the World Economic Situation and Prospects (WESP), said that “weaknesses in major developed economies continue to drag the global recovery and pose risks for world economic stability in the coming years”. The report said that while developing countries continue to drive the global recovery, their output growth is also expected to moderate to 6% on average during 2011-2012, down from 7.1% in 2010. It said that that China and India’s GDP growth is also expected to experience some moderation in 2011 and 2012. The report said that the volume of exports of many emerging economies, including Brazil, China, India and other developing economies in Asia, have already recovered to, or beyond, pre-crisis peaks. The report said that in 2011, global oil demand is expected to increase further. Most of the demand growth will continue to come from emerging economies, especially China and India. The report said that employment programmes like India’s Mahatma Gandhi National Rural Employment Guarantee Act have been effective. It said that the scheme provides one hundred days of employment at the minimum wage to 43 million low-income households. The report said that in India, the central bank is concerned with inflation, which has remained persistently high despite significant monetary tightening in 2010.

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Florence to introduce accommodation tax https://dev.traveldailymedia.com/florence-to-introduce-accommodation-tax/ Wed, 02 Nov 2011 15:09:04 +0000 http://www.traveldailymedia.com/?p=116039 The post Florence to introduce accommodation tax appeared first on TD (Travel Daily Media) Brand TD.

Authorities in the historic Italian city of Florence are planning to introduce an accommodation tax from 1 July this year. The tax will be based on EUR1 (86p) per person, per night, per star of hotel for up to a maximum number of nights – likely to be five. Therefore a family of four, with […]

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Authorities in the historic Italian city of Florence are planning to introduce an accommodation tax from 1 July this year. The tax will be based on EUR1 (86p) per person, per night, per star of hotel for up to a maximum number of nights – likely to be five. Therefore a family of four, with children under 10 exempt from the tax, staying in a four-star hotel for four nights would pay an extra

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India acts against fake currency https://dev.traveldailymedia.com/india-acts-against-fake-currency/ Mon, 24 Oct 2011 19:17:02 +0000 http://www.traveldailymedia.com/?p=18780 The post India acts against fake currency appeared first on TD (Travel Daily Media) Brand TD.

India’s Finance Ministry has put in place an exercise to introduce security features in all denominations of Indian Bank Notes. This is being piloted by Directorate of Currency, Ministry of Finance. Union Finance Minister Pranab Mukherjee said to tackle the problem of counterfeiting, Security Printing and Minting Corporation of India Limited (SPMCIL) has already taken […]

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India’s Finance Ministry has put in place an exercise to introduce security features in all denominations of Indian Bank Notes. This is being piloted by Directorate of Currency, Ministry of Finance. Union Finance Minister Pranab Mukherjee said to tackle the problem of counterfeiting, Security Printing and Minting Corporation of India Limited (SPMCIL) has already taken steps to produce indigenous raw material for the production of bank notes. He said this will lead to production of about 80-85% of the bank note paper in the country in the next three years as against import of about 95% paper at present. Mukherjee said that a fully computerised system is being installed by the SPMCIL to cut currency counterfeits. He added that new coins with Rupee symbol and better designs and shine will be released in July this year.Delhi Metro souvenirsThe Delhi Metro has released a set of 10 rare pictures to be sold as souvenirs at the Metro Museum located at the Patel Chowk . The set is priced at INR 90.They can be used as postcards also and expected to be popular with tourists and locals alike.Earlier, the DMRC had introduced games, key chains and toy trains, which proved popular with commuters

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One for the museum https://dev.traveldailymedia.com/one-for-the-museum/ Mon, 24 Oct 2011 19:17:02 +0000 http://www.traveldailymedia.com/?p=18749 The post One for the museum appeared first on TD (Travel Daily Media) Brand TD.

The 25 paise coin would no longer be legal tender from 30 June, the Reserve Bank of India said. It has asked the public to exchange their 25 paise coins and those with lower denominations with banks before the due date after which they would be demonetised or cease to be a legal tender for […]

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The 25 paise coin would no longer be legal tender from 30 June, the Reserve Bank of India said. It has asked the public to exchange their 25 paise coins and those with lower denominations with banks before the due date after which they would be demonetised or cease to be a legal tender for payment.

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Tokyo rents are world’s most expensive https://dev.traveldailymedia.com/tokyo-rents-are-worlds-most-expensive/ Mon, 24 Oct 2011 09:24:27 +0000 http://www.traveldailymedia.com/?p=6746 The post Tokyo rents are world’s most expensive appeared first on TD (Travel Daily Media) Brand TD.

Rents are on the rise in Asia spurred on by strong economic growth among most of its economies, according to the latest accommodation reports published by ECA International. Tokyo is the most expensive location globally for two-bedroom rental property. The Japanese capital is followed by Hong Kong (3rd in the global rankings), Singapore (5), Seoul […]

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Rents are on the rise in Asia spurred on by strong economic growth among most of its economies, according to the latest accommodation reports published by ECA International. Tokyo is the most expensive location globally for two-bedroom rental property. The Japanese capital is followed by Hong Kong (3rd in the global rankings), Singapore (5), Seoul (15) and Shanghai (24).

In Singapore, the recession along with a wave of new housing hitting the market prompted rental prices for an unfurnished two bedroom property to fall by approximately 17% in 2009, according to the report data. However, this pattern was reversed last year when rents rose 15% to US$2,810 a month. Singapore rose from 6th to 5th position in the overall ranking.

“The rebound in Singapore has been driven by a general recovery in house prices along with increased demand,” said Lee Quane, Regional Director, ECA Asia. “Assignee numbers are up again in Singapore following falls during the economic downturn. This has placed pressure on rental accommodation, particularly in areas popular with expatriates.”

Hong Kong has witnessed some of the biggest price increases in the world, reflected in a jump up the ranking from 9th to 3rd position over the year. The price of renting two-bedroom accommodation rose by 22% to US$2,830 a month between 2009 and 2010. This contrasts with rent falls of around 25% the previous year.

“Land in Hong Kong is already expensive due to the lack of space,” said Quane. “Additionally, low interest rates, high liquidity in the market and a shortage of supply have contributed to pushing rents up.”

Published annually, ECA’s Accommodation reports provide information on rental costs  in over 120 locations worldwide. Rental prices for two bedroom apartments rose almost 7% within Asia last year having fallen more than 10% the year before. Globally, rents have fallen by 1%.

“Two years ago we witnessed a drop in rental prices across Asia as a result of the recession,” says Quane. “The strong rebound in rental rates in many cities reflects both the rapid economic recovery and the continued expansion of companies into the region.”

“Housing is one of the most costly aspects of an international assignment and companies need to ensure that they have an expatriate housing policy in place that takes rent price fluctuations into consideration,” explains Quane. “Regular reviews of allowances and policies as well as delivery of the allowance are fundamental in ensuring that companies guarantee that they keep
pace with the local market.”

Exchange rate fluctuations play an important role when making direct comparisons of residential property to let between cities worldwide. For the purposes of comparison rental prices have been converted to US dollars.

“The strengthening of the Singapore dollar against its US counterpart has contributed to the relative increase in accommodation costs there – when Singapore rents are quoted in local currency they have increased at the lower, albeit significant, rate of 9% year-on-year, ” said Quane. “Such currency movements can have a big impact on costs for companies sending employees on assignment. Tokyo is a case in point – the strengthening of the yen against
major currencies, including the greenback, means that while rental prices quoted in yen dropped 7%, they increased 2% when converted into dollars.”

Rents in Shanghai and Beijing, globally ranked 24th and 45th, rose last year after falls the previous year. Chinese locations span the ranking with Shenzhen, in 114th position, the cheapest of the locations there for two bed apartments reflecting the big variations in costs across the country.

The cheapest rental property surveyed is in Karachi where a two-bedroom apartment is on average 17 times cheaper than in Tokyo.

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Japanese cities still most expensive – survey https://dev.traveldailymedia.com/japanese-cities-still-most-expensive-survey/ Mon, 24 Oct 2011 09:09:29 +0000 http://www.traveldailymedia.com/?p=809 The post Japanese cities still most expensive – survey appeared first on TD (Travel Daily Media) Brand TD.

Hong Kong has fallen in the cost of living stakes but high prices in the SAR are still detracting from its competitiveness as a business location, according to the latest Cost of Living Survey conducted by ECA International, the world’s leader in the development and provision of solutions for the management and assignment of employees […]

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Hong Kong has fallen in the cost of living stakes but high prices in the SAR are still detracting from its competitiveness as a business location, according to the latest Cost of Living Survey conducted by ECA International, the world’s leader in the development and provision of solutions for the management and assignment of employees around the world.

The survey also found that global currency movements are having a significant impact on living costs for many assignees in Asia with the exception of locations in China where the peg to the weakened US dollar has kept costs down.

The appreciation of the Korean won sees Seoul leapfrog Hong Kong whilst Singapore has risen up the ranks to close in on Hong Kong at ninth position. Tokyo has regained the top spot globally for the first time since 2005, due partly to the strength of the Yen.

“These movements demonstrate the impact of exchange rates on cost of living and salaries for international assignees,” says Lee Quane, Regional Director – Asia, ECA International. “Three years ago, the weakness of the yen pushed Tokyo out of our global top ten, but as the currency has strengthened, the cost of living for international assignees has risen. This, coupled with Luanda’s fall from the number one spot due to the depreciation of the kwanza as its unofficial peg against the US dollar was loosened, means Tokyo now sits at the top of the ranking.”

Hong Kong
Globally, Hong Kong has fallen slightly in the ranking, from 30th position last year to 34 this year. This is the result of the relatively weaker currency, counteracting the fact that inflation for assignees has increased at a faster rate in Hong Kong than in many other developed cities surveyed.

“Hong Kong remains the most expensive location in greater China,” notes Quane. “Prices of goods and services commonly purchased by assignees there have increased more quickly than in other cities within the greater China area and this has contributed to the city rising slightly in the Asian ranking. However, the peg to the USD has offset the extent of this increase so that globally the city has fallen in the ranking.”

Rest of Asia
Joining Japanese locations in the region’s top ten are the Korean cities of Seoul and Busan as well as Hong Kong, Beijing, Shanghai and Singapore.

Singapore continues to close in on Hong Kong and the top-ranked Chinese locations, maintaining its position within the region’s top ten most expensive locations for assignees. The Lion City’s currency has been strong relative to other major currencies in the region. Furthermore, prices of goods and services commonly purchased by international assignees has risen at much faster rates than in other developed locations in the region. Singapore has gained six places in ECA’s global rankings and is now in 67th position, overtaking locations such as Guangzhou and Shenzhen.

Currency fluctuations continue to be the main factor impacting the ranking of Asian locations.

The strengthening of the won against major currencies over the past year, on the back of strong economic performance, has contributed to Korean locations becoming dramatically more costly for assignees and Seoul’s return to the top ten. Similarly the appreciation of the Thai baht and the Indonesian rupiah over the same period has contributed to making locations in these countries more expensive places to go to. Jakarta has risen 71 places in ECA’s global ranking to 121st position.

Conversely, locations in mainland China have become cheaper, with Shanghai falling 18 places and Beijing dropping 29 places in our ranking. This is greatly due to the pegging of the Chinese yuan to the weakened US dollar. Shanghai is the country’s most expensive city followed by Beijing and Guangzhou.

Living costs for assignees are affected by inflation, availability of goods and exchange rates, all of which can have a significant impact on assignee remuneration packages. To help multinational companies calculate assignment salaries, ECA carries out a Cost of Living Survey twice a year comparing a basket of consumer goods and services commonly purchased by assignees in over 390 locations worldwide.

“Companies sending employees on international assignments pay them cost of living allowances in order to enable them to maintain their purchasing power on assignment,” explains Quane. “The changes in the cost of living seen in locations such as Jakarta, Seoul, Shanghai and Tokyo underline the need for companies to monitor and review allowances in order to ensure that these keep pace with changes in exchange rates as well as prices.”

Although exchange rates have been the driving factor behind movements, several locations in Asia have experienced considerable inflation in between cost of living surveys, including Thailand, India, Philippines and Vietnam.

“Inflation has re-emerged as a major challenge as Asia recovers from the economic recession,” observes Quane. “The prices paid by international assignees have increased even in developed economies, such as Hong Kong and Singapore. Elsewhere, political situations are having an impact: the unrest in Bangkok has seen prices rise there since we began undertaking this year’s survey.”

Karachi, Islamabad and Kolkata are the cheapest locations in the region for international assignees.

WORLDWIDE HIGHLIGHTS

Europe
Oslo is the most expensive location surveyed for visitors to the European region. The strengthening of the krone against major currencies has pushed the Norwegian capital above Copenhagen – the region’s most costly city a year ago. An upward trend in oil prices, a short-lived recession and a reputation for being a safe haven for investors has contributed to the rise in the value of Norway’s currency.

Russian locations, which had fallen in the ranking a year ago as the rouble weakened, are now climbing back up as the currency has strengthened against major currencies. Again this can be explained by the increase in oil prices – Russia is the largest producer of oil in the world. Moscow has regained its place within the region’s top ten. Swiss locations, as well as Finland’s Helsinki and the French capital, Paris, can also be found at the top of the European ranking.

Swedish locations have witnessed some of the highest rises in costs for visitors as the currency there has appreciated against the US dollar and other major currencies. Like Norway, Sweden is seen as a safe haven for investors in comparison to Eurozone countries. Demand for currency has risen over the year, increasing its value.

The weakness of sterling means that many of the Western European capitals remain more expensive than central London including Brussels, Berlin and Amsterdam. UK locations remain among the cheapest within the region alongside Prague, Warsaw and Budapest.

Continuing economic uncertainty in the Eurozone, particularly in recent weeks, means that the value of the euro remains particularly fragile.

“The movement of the euro will be one of the key factors to monitor over the coming months for companies sending assignees out of the euro region into Asia, and vice versa” explains Quane. “If the euro continues to depreciate in value against Asian currencies, as it has in recent weeks, companies will need to actively monitor the extent of the fall in the value of the currency or review the way that they deliver salary to their assignees in order to ensure that they are not adversely affected by the fall in the value of the euro.”

Americas
Rio do Janeiro is now the most expensive location surveyed for visitors to the Americas. This is in sharp contrast to a year ago when a drop in demand for commodities weakened the currency. With the recession easing in many parts of the world commodity demands have risen thereby strengthening the value of the real. This, coupled with rising prices has pushed Brazilian locations back to being South America’s most expensive location.

Within North America, Manhattan is the most costly location followed by Honolulu. In general, US locations have fallen down the rankings slightly, reflecting the weakened dollar.

In contrast, the Canadian dollar has strengthened against major currencies resulting in a rise in the ranking of the Canadian locations studied. Vancouver is the most expensive location for international assignees followed by Ottawa and Toronto.

The situation in Venezuela is very changeable due to exchange rates: the official rate was devalued in January and the parallel rate was suspended. In order to provide the most appropriate cost of living allowance, companies sending assignees in or out of Venezuela need to keep a careful eye on the situation.

Australasia
Australia has become significantly more expensive for international assignees since ECA’s March 2009 Cost of Living survey. Stable growth in the Australian economy has seen the currency there strengthen against many major currencies over the year. Canberra is the most expensive location surveyed there followed by Sydney, Melbourne. Perth, Brisbane and Adelaide.

Middle East and Africa
Luanda is the most expensive location surveyed in Africa although it has slipped to third place worldwide for the first time since 2006. Despite increased price levels in Luanda during the survey period, the loosening of the Angolan currency’s unofficial peg against the US dollar has led to the depreciation of the Kwanza. This has more than offset any price inflation.

“While some may find it surprising that this African location is even in the top three,” says Quane “items frequently purchased by assignees can be very expensive in Angola due, particularly, to decades of war resulting in a much damaged infrastructure, making supplies difficult to get through.”

Despite the rand strengthening against major currencies between surveys, South African locations remain among the cheapest – good news for anyone going to the World Cup!

Israel’s capital, Tel Aviv, remains the most expensive place for visitors to the Middle East. Jeddah in Saudi Arabia is the cheapest. Both Dubai and Abu Dhabi in the UAE where the currency is pegged to the US dollar, have fallen in the ranking.

Maseru in Lesotho is the cheapest location within Africa for visitors with items costing 65% less there than when purchased in Luanda.

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Abu Dhabi National Hotels’ profits drop 38% https://dev.traveldailymedia.com/abu-dhabi-national-hotels-profits-drop-38/ Mon, 16 Feb 2009 11:41:00 +0000 http://www.traveldailymedia.com/?p=37159 The post Abu Dhabi National Hotels’ profits drop 38% appeared first on TD (Travel Daily Media) Brand TD.

 Abu Dhabi National Hotels, the owner of Hilton, Le Meridien and Sheraton-managed properties in the UAE, has reported a full-year 2008 profit drop of 38% as it recorded losses on investments. The company’s net income declined to AED292.7 million (US$79.7 million), according to a Bloomberg report.

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Abu Dhabi National Hotels, the owner of Hilton, Le Meridien and Sheraton-managed properties in the UAE, has reported a full-year 2008 profit drop of 38% as it recorded losses on investments. The company’s net income declined to AED292.7 million (US$79.7 million), according to a Bloomberg report.

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UAE growth to slow https://dev.traveldailymedia.com/uae-growth-to-slow/ Wed, 26 Oct 2011 03:33:06 +0000 http://www.traveldailymedia.com/?p=37010 The post UAE growth to slow appeared first on TD (Travel Daily Media) Brand TD.

The UAE economy is expected to grow about just 3% this year, according to the International Monetary Fund (IMF). The country’s GDP grew 7.4% in 2007, with that expected to slow to 7.2% last year. Source: Gulf News.

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The UAE economy is expected to grow about just 3% this year, according to the International Monetary Fund (IMF). The country’s GDP grew 7.4% in 2007, with that expected to slow to 7.2% last year. Source: Gulf News.

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Global Asset Solution launches new publication https://dev.traveldailymedia.com/global-asset-solution-launches-new-publication/ Wed, 26 Oct 2011 03:33:06 +0000 http://www.traveldailymedia.com/?p=36967 The post Global Asset Solution launches new publication appeared first on TD (Travel Daily Media) Brand TD.

Global Asset Solution has announced the launch of the ‘Hotel Asset Management Principles & Practices, Second Edition’ with the company’s Managing Director, Alex Sogno, as co-author. The edition, released this month, is published by the Hospitality Asset Managers Association (HAMA), the American Hotel & Lodging Education Institute, and the University of Denver.

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Global Asset Solution has announced the launch of the ‘Hotel Asset Management Principles & Practices, Second Edition’ with the company’s Managing Director, Alex Sogno, as co-author.

The edition, released this month, is published by the Hospitality Asset Managers Association (HAMA), the American Hotel & Lodging Education Institute, and the University of Denver.

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Thai Airways’ finances “alarming” https://dev.traveldailymedia.com/thai-airways-finances-alarming/ Wed, 26 Oct 2011 03:33:06 +0000 http://www.traveldailymedia.com/?p=36522 The post Thai Airways’ finances “alarming” appeared first on TD (Travel Daily Media) Brand TD.

Thailand’s Deputy Prime Minister has said the financial state of flag carrier Thai Airways is “alarming” and promised the government would step in to help it. According to an AFP report, Suthep Thaugsuban had proposed talks between the finance and transport ministries to resolve the crisis at the airline, in which the government holds a […]

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Thailand’s Deputy Prime Minister has said the financial state of flag carrier Thai Airways is “alarming” and promised the government would step in to help it.

According to an AFP report, Suthep Thaugsuban had proposed talks between the finance and transport ministries to resolve the crisis at the airline, in which the government holds a majority stake.

“The problem at Thai Airways (THAI) is very alarming and the government will take care of it absolutely,” Suthep was quoted saying.
“I have to admit that the government is very concerned because as of now the airline still has not submitted its rehabilitation plan,” he added.
On Tuesday Finance Minister, Korn Chatikavanij, had said the carrier would have to submit a detailed recovery plan in order to receive taxpayer funds. AFP said THAI needed THB19 billion (US$54.4 million) to resolve its liquidity problem this year.

Last week the airline said it was moving all its remaining domestic flights from the old Don Mueang airport to the new Suvarnabhumi Airport to save up to THB700 million a year.

It was also delaying the delivery of six A330 aircraft from Airbus.

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Nok Air out of “intensive care” https://dev.traveldailymedia.com/nok-air-out-of-intensive-care/ Wed, 26 Oct 2011 03:33:06 +0000 http://www.traveldailymedia.com/?p=36455 The post Nok Air out of “intensive care” appeared first on TD (Travel Daily Media) Brand TD.

Nok Airlines, the Thai low-cost carrier that was on the verge of bankruptcy last year, has announced profits of THB82 million (US$2.4 million) for Q4 2008, according to a Bangkok Post report. Additionally the report said that the airline had registered a THB30 million profit for January 2009. “We are out of the ICU (intensive […]

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Nok Airlines, the Thai low-cost carrier that was on the verge of bankruptcy last year, has announced profits of THB82 million (US$2.4 million) for Q4 2008, according to a Bangkok Post report. Additionally the report said that the airline had registered a THB30 million profit for January 2009.

“We are out of the ICU (intensive care unit) now and back to a normal state,” Nok’s Chief Executive, Patee Sarasin, was reported saying.
Last year Nok embarked on a huge restructuring effort, which included shedding nearly half its 1,000-strong workforce, halving its Boeing 737 jet fleet to three, cutting flight routes and frequencies, and cutting salaries. Surprisingly it also benefitted from the closure of Bangkok’s Suvarnabhumi airport by anti-government protesters. From its base at the less-affected Don Meuang airport, Nok was reportedly able to profit from charter requests from multinational companies evacuating their staff, as well regular services.

Nok Air managed to earn a profit of THB42 million in December alone, Patee revealed. Now while other airlines are expecting the worst, Patee is more optimistic.

“Judging from the domestic travel level in the last holiday season, when we put in a lot of extra flights, there was substantial demand,” the Bangkok Post reported him as saying.

If Nok Air emerges from this recovery period in good shape, it may add two additional Boeing 737-400s next year to capitalise on the expected return of demand growth, the report added.

 

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FCm pushes ahead for 2009 https://dev.traveldailymedia.com/fcm-pushes-ahead-for-2009/ Tue, 25 Oct 2011 10:02:03 +0000 http://www.traveldailymedia.com/?p=30464 The post FCm pushes ahead for 2009 appeared first on TD (Travel Daily Media) Brand TD.

FCm Travel Solutions has launched an aggressive global growth strategy for the next 12 months, with targets including a 30% expansion of its worldwide sales force. FCm’s Global Executive General Manager, Anthony Grigson, said the company remained focused on growth despite the global economic slowdown. “This is the time for travel consolidation within companies, where […]

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FCm Travel Solutions has launched an aggressive global growth strategy for the next 12 months, with targets including a 30% expansion of its worldwide sales force.

FCm’s Global Executive General Manager, Anthony Grigson, said the company remained focused on growth despite the global economic slowdown.
“This is the time for travel consolidation within companies, where true value needs to be driven by travel budgets and unnecessary costs reduced,” Grigson said. “This in itself is an opportunity for FCm, as we are continuing to consult with our clients to review and improve their travel management policies.”

Grigson also believes there are growth opportunities in less mature markets such as India and Greater China.

“Our sales force in India has expanded by almost 100% over the past year, and in Greater China we have almost tripled the size of our sales team within the past two months alone,” he said.

Mr Grigson added that FCm’s continued strength in the mid-market was key to its future success. “This market has been earmarked by the travel industry as an emerging growth area, but FCm has always been strong in this sector,” he began.

“The mid market has responded well to our culture. We have experienced good growth in this area and it will always be our core business.”

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Oil tumbles to new low https://dev.traveldailymedia.com/oil-tumbles-to-new-low/ Tue, 25 Oct 2011 10:02:03 +0000 http://www.traveldailymedia.com/?p=30364 The post Oil tumbles to new low appeared first on TD (Travel Daily Media) Brand TD.

Crude oil prices dropped below US$92 a barrel yesterday, having experienced their biggest two-day drop in almost four years, Bloomberg reported. Concerns that a weakening global economy may reduce global demand were thought to be behind the slump.

The post Oil tumbles to new low appeared first on Brand TD.

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The post Oil tumbles to new low appeared first on TD (Travel Daily Media) Brand TD.

Crude oil prices dropped below US$92 a barrel yesterday, having experienced their biggest two-day drop in almost four years, Bloomberg reported. Concerns that a weakening global economy may reduce global demand were thought to be behind the slump.

The post Oil tumbles to new low appeared first on Brand TD.

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