Travel advisors have used the pandemic to change the way they do business and manage their business. Some are getting more tech savvy, while others are getting pickier about who they work with, cutting loose suppliers and clients they consider unhelpful or toxic.
Expedia Group has agreed to sell high-end trip provider Classic Vacations to the Najafi Companies, a private equity firm whose travel holdings include the Ritz-Carlton and St. Regis hotels. The sector is on the verge of as rebound, Najafi President Jahm Najafi predicts.
One of the longterm effects of the pandemic on the travel industry will be the unbundling of events, writes Brian Morrissey of The Rebooting. The old template will no longer work, and he sees fewer, smaller events with less alcohol and more experiential options.
Travel advisors have a new source for industry news with the new webcasts, From the Funnel, developed by Carnival Cruise Line. Available on GoCCL.com, the webcasts, which will be updated bimonthly, will include marketing ideas, sales strategies, business development opportunities and regional updates.
Before the pandemic, travel insurance was seen as "an extra," but last year it became an essential as travelers of all ages recognized the many things that could go wrong on a trip. The average age of a traveler buying insurance dropped from 50 to 40, with more people seeing travel as an investment they need to protect.
Publicly traded hotel companies saw share prices reach pre-pandemic levels with hefty gains in February, heralding strong investor confidence in recovery. Real estate investment trusts that operate hotels and own their physical assets posted a 20% rise, in contrast to the hotel industry's continuing slump.
The European Commission is considering a "digital green pass" that will standardize information about a traveler's coronavirus tests and vaccinations. The goal is to make it easier for people to travel in the EU and beyond in anticipation of an uptick in travel this summer.
A new study by the University of Nebraska Medical Center and the National Strategic Research Institute found very low transmission of aerosol particles through the ventilation and HVAC systems of a Royal Caribbean cruise ship. The results of the study were shared with the Healthy Sail Panel and the Centers for Disease Control and Prevention as evidence of the safety of cruise ships.
Omni Hotels & Resorts has sold four Texas hotels and one in Florida in keeping with plans to focus on convention center and resort hotel investments. Dallas-based Omni has new projects underway in Boston, Oklahoma City and Frisco, Texas.
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