Here is your weekly industry news round-up. Check out the short snippets here and follow below for more details.
- Is TikTok the new plan for hospitality and travel marketing? #TikTokTravel
- Maximize your hotel revenue with Booking Engine Data Points
- Global hotel pipeline activity goes down except for Middle East & Africa
- Marriott International is to acquire the City Express brand for $100 million
- New challenge for hotels: Green Financing or not
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TikTok grows to become the rising marketing tool for B2B and B2C industries
Tourism boards around the world are choosing TikTok to showcase their countries’ travel destinations with a global travel campaign #TikTokTravel across 100 countries and regions to inspire users to creatively capture and share their travel moments.
Go smart with your guests’ data from Booking Engine
The data from Hotel Booking Engine is a source of both direct and indirect revenue. Your booking engine is not only the most profitable source of direct booking but also the most trusted source of data. Data that tells you what age, location or purpose of travel your guests have, opens up opportunities to target quality leads and convert potential guests into confirmed bookings.
Saudi Arabia and UAE get the hotel pipeline in the Middle East to rise
Middle East & Africa was the only world region to show an increase in overall hotel pipeline activity at the end of the third quarter, according to September 2022 data from STR. Most of the region’s pipeline activity is focused in the Middle East. Saudi Arabia (39,070) and United Arab Emirates (32,373) lead in construction activity.
All the 152 hotels in City Express’ portfolio will have the “Marriott” signature
The portfolio accounts for 152 hotels, including 17,356 rooms across 75 cities in Mexico and 3 countries in Latin America, as well as 5 under-construction projects, representing an additional 676 rooms. The hospitality company expects to update the brand name by adding its “by Marriott” signature.
Will green financing bring ESG in hospitality industry?
In hotel real estate, promising signs of a shift towards greener capital began to emerge in 2019, when BBVA and Pestana Hotel Group issued the world’s first hotel green bond (€60 million). Since then, hotel green loans too have been on an upward trajectory. In 2022, Saudi Arabia’s Red Sea Project closed a green facility amounting to a colossal SAR14.12 billion (US$3.8 billion) to develop 16 hotels in the Kingdom, setting a new pace in the global movement towards sustainable development.