From the daily archives: "Tuesday, August 18, 2015"
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    Operators push innovation

    InterContinental Hotels Group and Wyndham Worldwide both used their recent results to send the message to hotel owners that they were focused on technological innovation. Both operators are taking differing routes, as IHG partners with Amadeus to develop a new reservations system, while Wyndham is increasingly outsourcing. Steve Holmes, CEO, Wyndham Worldwide, told analysts: “We [...]
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    Expedia, Priceline, buoyed by global growth

    The two leading online travel agents both hailed strong quarters driven by continued international growth, despite Expedia’s decision to pull back in China. The battle with each other and the hotel operators for bookings has seen both invest in customer loyalty, with Priceline also claiming that it was “finally getting some good business out of [...]
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    China M&A builds as Ctrip dominates

    Chinese online travel agent eLong has confirmed a bid to take it private from shareholder Tencent Holdings. The news came as the company moved into a net loss for the second quarter, while rival and shareholder Ctrip described itself as “the most profitable travel company in China”. Tencent, which has a number of holdings in [...]
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    Tujia breaks USD1bn valuation

    Tujia, Airbnb’s equivalent in China, has raised USD300m in investment, taking its valuation to over USD1bn. Investors included The Ascott, which separately announced that it was forming a USD40m joint venture with Tujia to operate serviced apartments in China. Hong Kong-based All-Stars Investment, which also has investments in Chinese smartphone maker Xiaomi Inc and taxi [...]
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    AH&LA attacks Orbitz deal

    The American Hotel & Lodging Association has come out in opposition of Expedia’s planned USD1.3bn merger with Orbitz Worldwide. The AH&LA said that the deal, currently being reviewed by the Department of Justice, would create a duopoly, restricting consumer choice and harming small, independent hotel owners. Katherine Lugar, president & CEO, AH&LA, said: “It would [...]