How Can Travel Companies Maintain Positive Cash Flow?

Travel companies face continual pressure to maintain positive cash flow, which is necessary to be successful and continue to invest in the business. Seasonal imbalances, late customer payments, and lack of incoming revenue are all common challenges that businesses face that can impact cash flow. A recent report by Xero showed that only 52.1% of… Read more »

European Travel Companies Braced For PSD2

The Second Payment Services Directive (PSD2) is set to be transposed into national law by EU member states on January 13th 2018. What does this mean for travel companies operating in the EU? What is PSD2? According to Payments UK, the trade association for the payments industry in the UK, PSD2 is a fundamental piece… Read more »

OTAs vs. Direct Booking: Rivals or Competitive Teammates?

Online Booking

It’s an interesting time for hotel chains and online travel agencies (OTAs). Sizable marketing campaigns and enhanced reward programs from Hilton, Marriott and others are designed to get travelers to direct book. OTA loyalty programs, such as Expedia+ and Priceline Rewards TM Visa ® card, offer travellers numerous benefits for not booking direct. While each… Read more »

Five Things That Top Technology When Choosing a Payments Partner

Handshakes

Payment technologies are constantly evolving, and successful companies know they need a knowledgeable partner to help them keep up with change and to streamline their processes. But with the number of vendors increasing, and the variety of technologies available, it can be hard to determine the best vendor to work with. Is it better to… Read more »

Diverse Tours & Activities Sector Finds Room to Grow Online

Tourists

How much is spent on tours and activities each year? Estimates range from US $135 billion to $200 billion. Cited as the third largest travel sector, this group is less a clearly defined sector and more a massive group that includes a handful of large companies and countless small ones. While online bookings are exploding… Read more »

5 Accounts Payable Headaches Travel Companies Can Avoid with Virtual Payments

Businessman

Companies in the travel industry face unique accounts payable (AP) challenges due to the nature of their business. From traditional travel agents, to OTAs, to tour operators, making payments typically involves a large number of suppliers across the globe. Suppliers might include large multinational corporations or small, local vendors in more remote locales. For companies that are… Read more »

Chinese Outbound Tourism: Still Growing, But Changing

Chinese Traveler

The numbers continue to impress – Chinese outbound tourism has seen double-digit annual growth since 2004, with 135 million travelers and $261 billion spent in 2016. And Chinese outbound tourism is expected to continue to grow. A recent Mastercard report predicts 8.5% annual growth until 2021, when China will represent 40% of all Asia Pacific… Read more »

International Travel a Booming Market for US Travel Companies

A strong US Dollar, greater competition among international airlines, and an increased desire for authentic travel experiences are all contributing to a boom in international travel from the US. According to the International Trade Administration, Americans took more than 72 million trips outside the country in 2016, an 8% overall increase from the previous year…. Read more »

Adventure Tourism Increases Demand for International Travel

When Jack White, a father of two, began planning a vacation for his family, he ruled out the traditional destinations like the Grand Canyon and Walt Disney World®, and focused on a more exotic locale: China. When we talked with Jack about the reasons behind this decision he said, “I wanted to expose my teen-aged… Read more »

Industry Resources Help Travel Agents Sail Through Cruise Sales

Travel agents sail through cruise sales

The cruise sale is a complex undertaking for the travel agent—because it’s a complex decision for the travel planner. It’s rarely a straight forward process, especially for the first-time cruiser. Travel consumers have so many cruise options to wade through, from where to go and what to see to which cruise line to use, which… Read more »