Catégorie : Research
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What’s driving luxury travelers in 2024
According to McKinsey, demand for luxury tourism and hospitality will grow faster than for any other travel industry segment Sep 23, 2024 Luxury travel will generate $239 billion in revenue in 2023, and McKinsey predicts it will grow to $391 billion by 2028. But who qualifies as a luxury traveler? According to McKinsey, it’s anyone…
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Rapid transition to online bookings in the coming years
The global travel market is forecasted to grow 6-10% annually through 2026, with online bookings expected to reach 65% of all travel by 2026 Sep 23, 2024 The Phocuswright’s Global Travel Market Report 2024 highlights the increasing importance of online travel, which is expected to grow by nearly 10% annually between 2023 and 2026. This…
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Global business travel costs moderating in 2024
Latest research from CWT and GBTA reveals that while costs will continue to rise, the pace of these increases will be notably slower through 2024 and into 2025 Sep 23, 2024 The 2025 Global Business Travel Forecast, published today by CWT, the business travel and meetings specialist, and the Global Business Travel Association (GBTA), the…
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The week in charts
The Week in Charts Software valuations, New York’s fashion future, and more
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Three keys to long-term organizational health
Lose the short-term metrics Share this email Brought to you by Alex Panas, global leader of industries, & Axel Karlsson, global leader of functional practices and growth platforms —Alex and Axel Share these insights This email contains information about McKinsey’s research, insights, services, or events. By…
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Women in the Workplace 2024, magical experiences in travel, neurodivergent employees, and more: The Weekend Read
The week’s highlights for your downtime Share this email Brought to you by Alex Panas, global leader of industries, & Axel Karlsson, global leader of functional practices and growth platforms —Alex and Axel Ready to unwind? —Edited by Joyce Yoo, editor, New York Follow our thinking …
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How technology and data are redefining hotel distribution
Maintaining an offline distribution network can be costly and time-consuming and often requires substantial discounts and incentives to intermediaries Sep 20, 2024 Hotels struggle to track and manage unauthorized forward rate distribution by bed banks and wholesalers, which results in unintended rate appearances on OTAs and metasearch engines that undercut direct sales channels. Key takeaways…
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‘Algorithmic’ hotel pricing draws legal, regulatory scrutiny
Competition authorities on both sides of the Atlantic are scrutinizing the use of algorithms in pricing strategies, concerned that they may enable price-fixing and collusion Sep 20, 2024 A growing number of businesses are leveraging pricing algorithms to boost revenue and gain a competitive advantage. Simultaneously, competition regulators are increasing their scrutiny of these algorithms…
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Booking.com outpaces Airbnb in short-term rental growth
Booking Holdings’ short-term rental segment is growing faster than Airbnb’s, and the OTA is focused on maintaining that growth Sep 19, 2024 Currently, Booking Holdings sells roughly two-thirds of the short-term rental room nights that Airbnb does and has surpassed Airbnb’s growth in 12 of the last 13 quarters. The company attributes this success to…
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Spotting hotel junk fees is getting easier. Avoiding them isn’t.
It’s easier than ever to spot hidden fees when you book flights, hotels or tours online. But don’t expect your vacation costs to go down. Sep 19, 2024 Travelers report no noticeable change in overall prices, but having a clear breakdown of costs is seen as a win after years of unexpected charges at checkout.…