As we get a clearer idea of the extent of travel and tourism disruption from the pandemic, companies are zeroing in on payments management to get the sector moving again. Noting that travelers canceled nearly 25% of bookings with U.S. travel and tourism companies with...
Question: When is a global travel conglomerate not a simply global travel conglomerate? Answer: When it’s also a FinTech. Discussing new initiatives during the recent third-quarter earnings call, Booking.com CEO Glenn Fogel told analysts that the company had made its new internal FinTech unit focused...
Corporate travel isn’t what it used to be, and we don’t mean frequent flier status. Signals are mixed from the economic control tower. CNBC reported Wednesday (Nov. 17) that “Global business travel spending fell 54% to $661 billion in 2020 from $1.4 trillion 2019” as...
Corporate hospitality platform HRS has launched a partnership with Citi that will integrate the bank’s virtual payment product with HRS’s booking process, Business Travel News reported Tuesday (Nov. 16). The arrangement will see HRS embed Citi’s Virtual Card Account into its booking process in 46...
After more than an 18-month wait, the ending of broad pandemic-era restrictions has spawned a flurry of activity and excitement amongst hotels, airlines and essentially the entire travel and hospitality sector, all eager to jump-start the lucrative international tourist trade. Airbnb Co-Founder and CEO Brian...
FinTech firm CellPoint Digital has expanded its joint effort with Cebu Pacific Air to enable split payments and currency conversion for customers of the Philippines-based airline, according to a Wednesday (Nov. 10) press release. Founded in 1988, Cebu Pacific has flown more than 22 million...
The vacation business is recovering, and that’s expected to continue in the fourth quarter, Marriott Vacations Worldwide (MVW) reported Monday (Nov. 8) when announcing third quarter 2021 financial results. “Occupancies at our resorts this quarter were very strong despite the Delta variant, and contract sales were...
With major airlines reporting their first quarterly profits since the onset of the pandemic, restrictions easing both domestically and internationally, and the roll-out of vaccinations grinding forward, the travel bug is starting to resurface. In a recent conversation with Karen Webster, Flywire Vice President and...
Business travel is lining up for departure, but indications are it’s in for a longer taxi to takeoff. Signs of recovery for the sector are evident, with Lyft CEO Logan Green saying on Tuesday (Nov. 2) during an earnings call with analysts that “airport rides nearly...