Hyatt Hotels Corporation (NYSE: H) announced today that a Hyatt affiliate has entered into a franchise agreement with H176 Reykjavík ehf, a fully owned subsidiary of Icelandic real estate company Reitir fasteignafelag hf, to open the first Hyatt branded hotel in Iceland. Expected to debut in 2022, the 169-room Hyatt Centric Reykjavík will bolster Hyatt’s lifestyle portfolio and the Hyatt Centric brand’s presence in Europe. Hyatt Centric Reykjavík will offer modern accommodations, three food and beverage outlets, including a pop-up rooftop bar overlooking Iceland’s dynamic capital city, and approximately 2100 square feet (200 square meters) of meeting facilities. With a high proportion of adventurous travelers exploring the Icelandic countryside, Hyatt Centric Reykjavík will boast its own car park for guests to use. Staying true to the Hyatt Centric brand experience, guests will have access to a passionate hotel team, ready to provide local expertise and insider knowledge, ensuring they never miss a moment of adventure. The hotel will be situated on Laugavegur, the main street of Reykjavík, located east of the city center in an area seeing rapid growth. The building will be a redevelopment of what locals know as the former headquarters of the Icelandic National Broadcasting Service. A 40-minute drive from Iceland’s main international airport and a 10-minute walk to the city center, Hyatt Centric Reykjavík will serve as the perfect launch pad for guests wanting to explore the breathtaking natural beauty of “The Land of Fire and Ice.” “Over the past year we have spent a great deal of time understanding the Nordic market and getting to know the hotel developers and owners in Iceland. Hyatt Centric Reykjavík will mark the first Hyatt hotel in Iceland, an important milestone for us,” said Peter Norman, senior vice president of development, Hyatt. “Hyatt Centric Reykjavík not only demonstrates our unprecedented growth in the upscale lifestyle segment in Europe, but also our commitment to expand Hyatt’s brand footprint in a market currently dominated by independent, regional players.” “We are thrilled to be working alongside Hyatt to bring the first Hyatt hotel to Iceland and the Nordics as a whole. Our experience in the Icelandic market and Hyatt’s unique, personalized approach to development is the perfect combination to develop a distinct offering in the city,” said Guðjón Auðunsson, CEO of Reitir fasteignafélag hf. “With travelers staying in Iceland for an average of five to eight nights all year round, Hyatt Centric Reykjavík will be the ideal base for guests wanting to enjoy a lifestyle hotel whilst taking in the stunning scenery, whether on a hike in summer or while viewing the Northern Lights in winter.” Hyatt Centric Reykjavík will join the growing Hyatt Centric portfolio in Europe with Hyatt Centric La Rosière, Hyatt Centric Milan Centrale, Hyatt Centric Murano Venice, Hyatt Centric Gran Via Madrid, Hyatt Centric Levent Istanbul and the newly opened Hyatt Centric The Liberties Dublin. For more information on the Hyatt Centric brand and its range of properties worldwide, visit hyattcentric.com .
Create: Dec 10, 2019 Edit: Dec 10, 2019 International NewsWhen stepping into a hotel these days, one cannot help but notice a growing wave of smoothie bowls, pilates poses, and mindfulness seminars. For many years, Accor has been at the forefront of the wellbeing movement, leading the way to integrate health and wellness into all aspects of the guest experience. In a new white paper, “It’s a Wellness World: The Global Shift Shaking up Our Business”, Accor explores the fundamental societal shift currently underway as the lifestyle goal of feeling healthier has moved out from beyond the walls of the spas and gyms and entered the mainstream. The informative report goes on to discuss the opportunities the wellness movement provides for hoteliers and some of the unique ways that Accor brands will deepen their commitments in this vital area throughout 2020 and beyond. “At Accor, our goal is to have guests experience a sense of wellbeing during their stay and that they leave feeling better than when they arrived; better rested, more nourished and in a happier state of mind,” said Emlyn Brown, Global Vice-President, Wellbeing, Luxury & Premium Brands, Accor. “A delighted guest is naturally more inspired to return. Therefore, by investing in holistic wellness experiences that help our guests feel good throughout the customer journey, we are establishing a model for strong revenue growth through return bookings, word-of-mouth referrals, and positive social media presence, contributing to a steady and sustainable business for years to come.” “It’s a Wellness World: The Global Shift Shaking up Our Business” reveals that 77% of consumers “take steps in their daily lives to stay healthy, make informed food choices, stay active and manage stress.”* Furthermore, some 56% of affluent travelers place a top priority on the statement, “I’m striving to become healthier in the coming year.”** The report also explores numerous economic and social factors that are driving the rise of wellness around the world. “As the wellness movement matures, and wellness offerings become a standard expectation within the hospitality industry, we are seeing a growing emphasis not only on healthy food options, relaxation, and movement but on such fundamental health necessities as clean water and air,” said Anne Dimon, CEO & President of the Wellness Tourism Association. “The mindset of wellness has evolved beyond spas and workout spaces, challenging the hospitality industry to consider how it integrates other health considerations such mindfulness and time spent in nature, along with environmental concerns – such as reducing indoor pollution and eliminating plastics – into its daily operations.” Accor’s well-being white paper will act as a catalyst to help energize the company’s wellness teams globally, while also informing and enhancing the five key pillars that guide Accor’s overall approach to well-being – Active Nutrition, Holistic Design, Bodies in Movement, Leveraging Spa, and Embracing Mindfulness – all of which are adapted and adopted by the company’s hotel brands based on a number of important factors including guest preference, demographics, brand positioning, culture and location. The report also delves deeper into this tailored approach and showcases several examples of how some of Accor’s leading hotel brands are uniquely evolving with the wellness movement. For example: Raffles Hotels & Resorts creates bespoke experiences to enhance guests’ emotional wellbeing, allowing them the opportunity to experience serenity, harmony, and pleasure. The brand is employing Feng Shui and Biophilia techniques to bring peace and balance to its interior spaces; menus designed to enhance sleep, counter jet lag and promote digestive health, and sleep rituals include aromatherapy and luxury sleep masks. Fairmont Hotels & Resorts is a gateway to hundreds of wellbeing experiences, from heart-racing workouts to heartfelt moments of peace and tranquility. The brand’s apparel and gear-lending program ensures guests are ready for fitness anytime; green spaces connect guests to nature; a sustainable drinking water program and high-quality organic and local food employ an environmentally respectful approach. SO/ Hotels & Resorts’ approach to wellness aims to bring balance to those who live fast and play hard. The brand’s Glow Bar offering provides the latest in skin and beauty treatments, while Deep Beats Yoga brings the power of sound to enrich the physical and mental experience of en masse yoga. MGallery Hotel Collection seeks to nourish the soul and empower guests with a balanced lifestyle among thoughtfully designed spaces. In-room amenities are curated for self-care, while signature treatments, healthful menus and positively affirming mantras inspire guests to feel their best, inside and out. Pullman Hotels & Resorts delivers Power Fitness to guests who want to achieve peak physical performance, in between working and having fun. The hotels feature energetic power fitness zones; video on-demand exercise classes; Power Up food and beverage menus for optimal nutrition; and a global ambassador fitness program to keep workouts fresh and inspired. Swissôtel Hotels & Resorts continues to expand its Vitality Room concept. These customized suites include circadian lighting technology; in-room yoga stations; wellness walls with fitness training modules; black-out blinds; air purification systems; shower lighting and scent customization; and high vitality snack and superfoods bars. “Wellness is a golden opportunity for the hospitality industry,” added Brown. “Feeling healthy is a universal, emotionally-charged, and frequent concern for all demographics of guests and cuts across all areas of life, from daily routines to exceptional, transformative travel experiences. Our diverse hotel brands look forward to embracing the challenge of continuously surprising and delighting our guests with new ways to achieve health and well-being during their travels, inspiring them to choose our hotels again and again.”
Create: Dec 8, 2019 Edit: Dec 8, 2019 International NewsHyatt Hotels Corporation announced that more than 20 new luxury hotels and resorts are expected to open worldwide by the end of 2020, boosting Hyatt’s luxury portfolio. The additions include new properties under the Park Hyatt, Andaz, Alila, Grand Hyatt, Miraval and The Unbound Collection by Hyatt brands. As part of this global expansion, The Unbound Collection by Hyatt brand is seeing its strongest growth to date in Europe. The brand is known for an exceptional portfolio of true historic gems as well as contemporary properties with a fascinating past. Each hotel within the collection provides one-of-a-kind experiences attracting independently minded travelers looking for the extraordinary. Upcoming hotels include distinctive properties like Great Scotland Yard, the location of London’s former metropolitan police headquarters, expected to open December 9; and the majestic Hôtel du Palais Biarritz, the former imperial residence of Napoleon III, which is due to reopen in June 2020 after an extensive renovation. “With our growth acceleration in the luxury segment, we will have the opportunity to care for more travelers around the globe through a range of differentiated high-end experiences,” said Mark Vondrasek, chief commercial officer, Hyatt. “We’re excited to expand into new markets and enhance the global footprint of our brands, giving our guests and members additional ways to connect with our luxury offerings in places where they want to be.” Celebrating its 40th anniversary in 2020, the Park Hyatt brand is also a key contributor to Hyatt’s luxury portfolio growth, with five Park Hyatt hotels expected to open by 2020 in Doha, Qatar; Jakarta, Indonesia; Niseko, Japan; Suzhou, China; and Auckland, New Zealand. With its world-renowned artwork, sophisticated design, and sought-after dining experiences – with several Michelin-starred restaurants, now totaling three in Europe – the brand caters to discerning travelers who appreciate understated luxury and an intimate, residential stay. Throughout the decades, Park Hyatt hotels have delivered immersive experiences, creating a refined home away from home for guests. “Across Europe, Africa, the Middle East, as well as Southwest Asia, luxury properties account for over a third (35 percent) of our portfolio,” said Peter Fulton, group president – EAME SWA, Hyatt. “Europe in particular, with its unique and historic architecture, represents a natural home for The Unbound Collection by Hyatt brand, and as we expand with our lifestyle and independent brands, we are confident our new offerings will cater to high-end travelers who are seeking an unprecedented stay.” Other announcements include the expansion of the Alila brand, which delivers world-class service and crafts rare and intimate experiences for its guests, with three luxury resorts expected to open in Switzerland, Malaysia and Oman. In addition, six Andaz branded luxury lifestyle properties are due to open in Dubai, UAE; Prague, Czech Republic; Bali, Indonesia; Shenzhen and Xiamen in China; and Palm Springs, California, offering distinctively local experiences and creative design within open, barrier-free spaces. The Grand Hyatt brand is also set to continue to steadily grow with new openings in Hefei and the Shenzhou Peninsula in China, Kuwait, Gurgaon in India, Jeju in South Korea, and Nashville, Tennessee, along with the first Grand Hyatt hotel in Al Khobar, Saudi Arabia. Known for its bold and vibrant architecture and welcoming service, Hyatt’s largest luxury brand, Grand Hyatt, celebrates the iconic in small details and magnificent moments. Planned Alila openings Alila Dalit Bay in Malaysia (2020) Alila Hinu Bay in Oman (2020) Alila La Gruyère in Switzerland (2023) Planned/Recent Andaz openings Andaz Dubai The Palm (2019)–will mark the brand’s entry into Dubai Andaz Bali (2020)–will mark the brand’s entry into Indonesia Andaz Shenzhen in China (2020) Andaz Xiamen in China (2020) Andaz Palm Springs in the U.S. (2020) Andaz Prague (2022)–will mark first Hyatt hotel in the Czech Republic Andaz Seoul Gangnam in South Korea (opened 2019) Planned/Recent Grand Hyatt openings Grand Hyatt Hefei in China (2019) Grand Hyatt Al Khobar (2020)–will mark the brand’s entry into the Kingdom of Saudi Arabia Grand Hyatt Kuwait (2020)–will mark the brand’s entry into Kuwait Grand Hyatt Gurgaon in India (2020) Grand Hyatt Jeju in South Korea (2020)–will mark largest Grand Hyatt hotel in Asia Pacific Grand Hyatt Nashville in the US (2020)–will mark the brand’s entry into Tennessee Grand Hyatt Shenzhou Peninsula in China (2020) Grand Hyatt at SFO–only on-airport hotel at SFO (opened 2019) Planned/Recent Park Hyatt openings Park Hyatt Doha (2019)–will mark the brand’s entry into Qatar Park Hyatt Auckland (2020)–will mark the brand’s entry into New Zealand Park Hyatt Jakarta (2020)–will mark the brand’s entry into Indonesia Park Hyatt Niseko Hanazono in Japan (2020) Park Hyatt Suzhou in China (2020) Park Hyatt Kyoto in Japan (opened 2019) Planned The Unbound Collection by Hyatt openings Great Scotland Yard (2019)–will mark the brand’s entry into the UK Hotel du Palais Biarritz in France (2020) Planned Miraval openings Miraval Berkshires Resort and Spa in the US (2020)—will mark the brand’s entry into Massachusetts
Create: Dec 8, 2019 Edit: Dec 8, 2019 International NewsSouth Korean operator KT has launched its AI-enabled hotel service robot in Seoul. The AI hotel robot, dubbed ‘N bot’, started its official service at Novotel Ambassador Seoul Dongdaemun Hotels & Residences, to serve guests in 100 rooms, Yonhap news agency reports, citing a company statement. KT used 3D location mapping, autonomous driving and AI camera capabilities to develop the robot. Guests can request items through voice command or touch screen of KT's GiGa Genie device in a room, and N bot will identify the location to deliver the items, SK said. With help of its autonomous driving technology, the robot can take an elevator to move from one floor to another and stop or pass by oncoming people to avoid collisions. Back in February, KT opened a robot cafe in the main venue of MWC Barcelona to serve free coffee to visitors. The barista robot served 47 kinds of drinks at the GSMA Innovation City exhibition hall. In October this year, KT announced it will start selling its hotel service offering artificial intelligence-based features to hotels in the Philippines. The service will be gradually expanded to hotels in Singapore, Dubai and Guam. KT recently announced plans to invest KRW 300 billion (approximately USD 256.9 million) in the next four years to develop advanced AI-based services. KT will develop AI technology in the areas of language, image, analysis and problem solving, in an attempt to increase the number of AI-enabled devices to 100 million by 2025.
Create: Dec 7, 2019 Edit: Dec 8, 2019 International NewsThe hospitality group has signed an agreement with real estate company RIKAZ Properties Intercontinental Hotels Group will be developing its fourth Holiday Inn hotel in Al Khobar — Holiday Inn Al Khobar King Fahd Road — after signing a management agreement with real estate company RIKAZ Properties. Expected to open in January 2021, the 140-key property will feature an outdoor pool, a lobby lounge, food & beverage outlets and a gymnasium. Speaking about the new property Pascal Gauvin, MD, India, Middle East & Africa, IHG said, “We are delighted to sign an agreement with RIKAZ Properties for Holiday Inn Al Khobar King Fahd Road and strengthen our mainstream offering in the Kingdom of Saudi Arabia. We have a strong legacy in the Kingdom and are committed to leveraging the growth opportunities that Vision 2030 presents by expanding our presence across the country through our portfolio of global brands. With a number of recent signings in Saudi Arabia, across our brands such as Holiday Inn, voco and Crowne Plaza, we are growing our presence in key cities and gearing up to cater to the needs of diverse guest profiles expected to visit the country in the coming years.”Earlier this year the hospitality group signed two Holiday Inn properties in Madinah and Jeddah. “We are delighted to be partnering with IHG for our new venture. We have witnessed strong tourism figures and hotel occupancy rates in Saudi Arabia. Tourism is a focal point under the government’s vision 2030 - according to MAS (Tourism Research & Information Centre), the number of international trips made to Saudi Arabia is estimated to increase from 18 million in 2015 to 25.8 million in 2020. The Holiday Inn brand has an international appeal and we are confident that this latest hotel will perform successfully and cater to the increasing demand for midscale accommodation in the country,” said Khalid Al Gahtani, Chairman, RIKAZ Properties. IHG currently operates 92 hotels across 7 brands in the Middle East, including: InterContinental, Crowne Plaza, Holiday Inn, Holiday Inn Express, Staybridge Suites, voco and Six Senses Hotels Resorts with a further 41 in the development pipeline due to open within the next three to five years.
Create: Sep 8, 2019 Edit: Sep 14, 2019 International NewsOwned by Sharjah Investment and Development Authority (Shurooq), Al Badayer Oasis is a desert retreat set against the dunes of central Sharjah. Shaza Hotels’ president and CEO, Simon Coombs stated: “We are delighted to expand our presence in the UAE with Al Badayer Oasis and Shurooq. This latest opening, joining two other properties- namely the Kingfisher Lodge and Al Faya Lodge in the Sharjah Collection- creates a three-in-one travel circuit for visitors to discover the culture, traditional Arabian hospitality and natural beauty of Sharjah.” Featuring 21 rooms and 10 tents and showcasing by Arabian decor, Al Badayer Oasis is designed for luxury camping experiences. Included in the facilities are a restaurant offering authentic Emirati cuisine, an all-day-dining eatery, two meeting rooms, an indoor pool and a gym. The property also comprises an amphitheatre in the heart of the Caravanserai to host live events. Al Badayer Oasis will also offer recreational activities such as quad biking, horse riding, desert safaris and camel tours.
Create: Sep 1, 2019 Edit: Sep 1, 2019 International NewsFew countries on the planet are as famous for their luxurious hotel experiences as Mexico, a country rich in both culture and beaches, and is easy to reach for tourists from the United States. EXPANDING THE PORTFOLIO IN MEXICO This is why most major hotel companies have a sizable stake in Mexico. One of them is Hilton, who recently announced that the company is on track to have 100 hotels in Mexico by the year 2022. To accomplish this, Hilton plans to open approximately 10 hotels each year between now and 2022, ultimately adding 30 new properties and more than 4,500 rooms to its existing portfolio of 70 hotels in Mexico. The country already features what is one of Hilton’s single largest portfolios. The first hotels to open as part of this growth spurt include Hotel Lafontaine, the Curio Collection’s debut in Mexico, Canopy by Hilton Cancun La Isla, another brand launch, and Conrad Playa Mita.
Create: Jul 23, 2019 Edit: Aug 2, 2019 International NewsSteady rise in recurring fee income and enlarged asset size strategically position lodging business as a growing contributor to CapitaLand’s earnings. CapitaLand’s wholly owned lodging business unit, The Ascott Limited (Ascott), is accelerating its growth globally with the signing of 26 properties with over 6,000 units across 22 cities and 11 countries. The properties, which will open in phases from 2019 to 2023, are mostly signed under management contracts, with three on franchise agreements. To date this year, Ascott has signed contracts for over 40 properties with more than 8,000 units, an increase of over 40% in units compared with the same period in 2018. Ascott has also opened 16 properties with over 2,000 units, a 70% increase in operational units compared with 2018. Mr Kevin Goh, Ascott’s Chief Executive Officer, said: “We are fast-expanding Ascott’s global network of properties as we continue to pursue an asset-light business model to boost our recurring fee income. While we achieve strong momentum in expanding our global lodging business through strategic alliances, management contracts, franchise and leases, we are also accelerating the number of new property openings. For the first quarter this year, our operational units have contributed S$59.7 million of fee income. We are targeting to open over 40 properties with about 8,500 units this year. For every 10,000 serviced residence units signed, we are expecting to earn approximately S$25 million in fee income annually as the properties progressively open and stabilise. Through these growth strategies, we are looking forward to the fee income boost when we achieve our target of 160,000 units worldwide by 2023.” With the recent completion of the Ascendas-Singbridge transaction, CapitaLand through Ascott has become the sponsor of both Ascott Residence Trust (Ascott Reit) and Ascendas Hospitality Trust (A-HTRUST). Including the assets held under these two hospitality trusts, lodging assets under CapitaLand are valued at S$31 billion, equivalent to 25% of the Group’s total assets under management. An announcement proposing to combine the two trusts has been made on 3 July 2019.
Create: Jul 22, 2019 Edit: Aug 2, 2019 International NewsIn the context of IMEX, Accor and meetago® agreed on a strategic international partnership for its core meeting and events business today. This deeper level of cooperation was officially stamped and sealed on the basis of their already existing successful collaboration. meetago® provides booking and software solutions in the fields of meetings, incentives, conferences & exhibitions (“MICE”, for short) and is one of the biggest players in Central Europe. meetago®’s booking technology and services will be offered by Accor, not only in the DACH (Germany-Austria-Switzerland) region, but across Europe and in a few key source markets such as the US and China. With the launch of this partnership, the jointly developed Connectivity Solution will be available to more than 1,600 meeting hotels worldwide. The offer is focused on a comprehensive and attractive portfolio of meeting and conference hotels across all brands. The Accor and meetago® partnership aims to make booking and managing conferences, events and business meetings faster, more global and more efficient for hotels and event organisers. It will make meeting demand from corporate customers easier and will promote the continued international expansion of the meeting business of both partners. “Through the strategic partnership with meetago®, we are responding to growing demand from our corporate customers and we will be making our offer available centrally via one platform in the future. We also provide more comprehensive and efficient services with a higher level of digitalisation to the conference industry”, said Sabine Toplak, Accor Vice President Sales Central Europe. “We are very pleased to be expanding our collaboration with Accor, which will further advance our global growth. We want to use innovative ideas to provide an excellent user experience”, explained Udo Lülsdorf, CEO and founder of meetago®.
Create: Jul 9, 2019 Edit: Jul 10, 2019 International NewsMarriott International has announced the opening of its second Four Points by Sheraton hotel in Tanzania, Four Points by Sheraton Dar es Salaam, New Africa Hotel. The original New Africa Hotel was built as the official residence of Kaiser Wilhelm II in 1896. It was used as a hospital during World War I before being converted into a hotel during the British Empire. Sitting at the heart of the central business district of the city, overlooking the harbour, the hotel has since emerged as a landmark and an integral part of the burgeoning city. With the renovation and the rebrand the hotel continues to retain its unique charm, while delivering on the brand’s promise to provide what matters most to today’s independent travellers. “Four Points by Sheraton Dar es Salaam, New Africa Hotel, is a great addition to our rapidly growing footprint in Africa and further consolidates the brands presence in Tanzania. “We are confident that with its blend of stylish comfort and genuine service at a great value, the hotel will meet the rising demand for high-calibre lodging in this fast-growing market and soon emerge as a leading choice among business and leisure travellers,” said Alex Kyriakidis, president and managing director, Middle East and Africa, Marriott International. Designed for the modern traveller with an emphasis on approachable design, the 174 room Four Points by Sheraton Dar es Salaam, New Africa Hotel, features spacious and contemporary rooms including suites. Other facilities include an outdoor pool and a state-of-the-art fitness centre. With 1,000 square feet of indoor meeting and banquet space spread across 12 flexible meeting rooms, the hotel is an ideal venue for gatherings of any size including elaborate social events and weddings. “Our vision is to offer an uncomplicated travel experience for both business and leisure. “Perfectly situated in the heart of the city, the hotel is at the epicentre, steeped in history and surrounded by local attractions,” said Siddharth Chaudhry general manager, Four Points by Sheraton Dar es Salaam, New Africa Hotel. “We look forward to welcoming our guests with the brand’s signature warm and uncomplicated yet comfortable service.”
Create: Jul 6, 2019 Edit: Jul 8, 2019 International NewsHilton has unveiled its latest Spanish property, Higueron Hotel Malaga, Curio Collection. From the city that gave the world Picasso, the new hotel boasts 177 guest rooms, Malaga’s only sustainable Michelin-starred restaurant and jaw-dropping views of the Mediterranean Sea. Nestled behind the breath-taking Montes de Malaga, the hotel is conveniently located near Malaga’s vibrant city centre. Famously known as the heart of the Costa del Sol, the city offers something for guests of all ages, with its unique art districts, pristine sandy beaches and lively nightlife. “Malaga is one of Europe’s most popular destinations, with 12.5 million tourists flocking to its sunny shores last year,” said Simon Vincent, president, EMEA, Hilton. “With €1 in every €7 generated from travel and tourism in Spain, we are excited to expand our portfolio by 50 per cent in the next three to five years.” Each of the hotel’s elegant guest rooms feature unique Spanish touches, such as original lithography made with local materials. The hotel is set to add an additional 113 premium suites in 2020, bringing the total number of rooms available up to 290. With six different restaurants and bars, guests can savour fantastic farm-to-table produce and local dining. The Michelin-starred Sollo by Diego Gallegos serves innovative dishes based on river fish and caviar, all cultivated onsite at the hotel’s own hydroponic farm. “Higueron Hotel Malaga is the latest hotspot in the beautiful Costa del Sol, offering a truly unique experience to wind down and explore everything this remarkable location has to offer,” said Mark Nogal, global head, Curio Collection by Hilton.
Create: Jul 2, 2019 Edit: Jul 3, 2019 International NewsHigh-growth companies slow down as they expand. Booking.com is hoping to defy that by investing into new markets like alternative accommodations. But progress has been slow. During the first-quarter, Booking Holdings saw its total revenues decline 3 percent, year-over-year, to $2.8 billion. One path to new growth could be more acquisitions, CEO Glenn Fogel suggested on an earnings call last week. During the call, Fogel said three times that he was considering opportunistic mergers and acquisitions. It wasn’t clear what size company or sector he had in mind. The inferred context was that the conglomerate has several opportunities to knit together an interlocking set of travel services to do a better job of cross-selling and upselling customers on an array of products throughout the life of a trip.
Create: May 28, 2019 Edit: Jun 22, 2019 International News