RedDoorz CEO Saberwal wants to build a company with a valuation of $1 billion by next year, possibly $5 billion in two to three years, by which time he hopes to take RedDoorz public.
Many accommodation providers are seeing a rise in the demand, driven by an increase in ‘bleisure’, last-minute and one-night weekender travel.
Total revenues grew 21.6% thanks to addition of 134 hotels, improved RevPAR, membership growth, and the consolidation of the Argyle's results of operation.
Hotel occupancy rates that averaged 90% in the first half will fall by a third or more and that arrivals from the mainland to Hong Kong, a key shopping destination for Chinese, could slow to a trickle.
For the first time since 2016, STR data shows mainland China supply growth outpacing demand growth, leading to occupancy declines.
Comparable revenue per available room flattened off to 0.1% from the 0.3% seen in the first quarter.
Airbnb’s disruptive power stems from its ability to identify and meet evolving customer needs, not its technology.
RCI, the world's largest vacation exchange network as part of Wyndham Destinations, announced it has acquired travel technology platform Alliance Reservations Network (Alliance) for $92 million.
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