Creative Online Programs Offer Even Deeper Hotel Discounts

There’s a new breed of online hotel deals generating considerable buzz. How do these “twists on traditional practices” work and what do they mean for hotels’ relationships with online booking sites? We’ll look at two new programs—one rewards travelers for moving quickly and the other rewards delayed decisions. Acting Fast Pays Off… Launched this summer,… Read more »

Benefits Of Virtual Payments Add Up For Travel Industry

Virtual Payments

Evolving consumer payment trends are influencing changes in business payments. The increased availability and acceptance of consumer technology has created “back-end innovation” that’s “simpler, and cheaper, for payments companies,” and it’s moving more B2B payments to virtual payments. Last year, acom.com reported that “B2B virtual payment volume will double between now and 2018 and skyrocket… Read more »

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 »