Travel companies, which are reliant upon a consumer’s tendency to spend excess cash, will be among the first sectors to be impacted by hostile economic conditions.
As of September 30, 2018, the number of hotel rooms in operation totaled 409,516, an increase of 9.9% from a year ago. Income from operations increased 32.9% year-over-year to $112.8 million for Q3.
Farelogix enabled airlines to directly distribute air tickets partly by bypassing technology middlemen like Sabre and its peers Amadeus and Travelport.
SBC Travel will launchi its own rewards program, which will allow users to purchase and redeem the cryptocurrency on travel bookings.
Sojern has raised $162.5 million to date.
Books are scheduled to close on November 19 and the company is expected to start trading on November 26.
Unprecedented demand – particularly among millennial consumers – for experiences over material possessions has fuelled the meteoric rise of ‘festival tourism’.
The total funding raised by the Tiqets has reached $45 million since its launch.
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