Booking CEO's Long Game + Caribbean's $20 Million Push + Tragedy on Southwest

The Travel Industry's Daily Agenda-Setting Newsletter

April 18, 2018 View in browser

Editor's Note Booking Holdings CEO Glenn Fogel reached into his Warren Buffett quotes to explain why he supposedly doesn't fret about daily stock market fluctuations. In his paraphrase, Fogel said: "In the long run, the stock market is a weighing machine. Short term, it's a popularity contest." In other words, Fogel would have us believe that he wasn't overly concerned when Connecticut-based Booking Holdings' third quarter financials caused a share price dive last November. He'd rather focus on the company's strides in artificial intelligence, and the chatbot it created for customer service. Investors are hoping the Oracle of Norwalk has it right. — Dennis Schaal, Executive Editor Top Stories New Skift Research Report: What Works Best in Hospitality Loyalty Programs Despite numerous enhancements and considerable growth in hotel loyalty programs, opinions on the effectiveness and value of these programs vary widely among consumers and hotel owners. Our latest report evaluates these differing perspectives and offers hotel companies ways to navigate the challenging road to real customer loyalty. Booking Holdings CEO on the Foolishness of a Short-Term Focus Stocks go up and stocks go down. That's one of the perils of being a public company and exposing yourself to such pressures. Booking Holdings CEO Glenn Fogel expresses a commitment to focus on the long term regardless of short-term complications. If Airbnb goes public, it would have to deal with a similar dynamic. Tourism Group Ups Proposed Budget to $20 Million to Promote Caribbean After Hurricanes Details are still being hammered out for this new Caribbean marketing fund as hurricane season officially begins June 1. Many cruise ship passengers already consider the Caribbean as a collective destination, but still, why did it take decades for this fund to come about? Southwest's Engine Type Considered Among Most Reliable Despite Recent Issues The pictures from Southwest Flight 1380 are scary. But flying remains incredibly safe. Investigators will undoubtedly figure out what happened, and when they do, flying will be even safer. TripAdvisor Attractions Unit Will Rebrand as Experiences And the winner is ... "experiences." It's a trendy way these days to refer to what formerly were known as tours and activities or attractions. Following Airbnb and Booking.com, TripAdvisor's new business unit will be called TripAdvisor Experiences. Breathing is an experience and living is an experience. Does the name du jour really reflect tour and activities offerings? Airbnb Launching an Effort to Address Overtourism It Helped Create The Airbnb effect has helped transform many neighborhoods around the world, and some before they were fully ready for mass tourism. The company is acknowledging that it knows it has an impact. But let's see if major cities where the real problems exist will get the same treatment as rural villages in Africa. Skift Forum Europe Preview: AccorHotels CEO on the Importance of Reaching Non-Travelers Here's never shy, so you won't want to miss what Bazin has to say about the hospitality and travel industry at Skift Forum Europe in Berlin, especially since he's not afraid to speak his mind. Mr and Mrs Smith Joins Tours and Activities Rush With SideStory Acquisition Trips, experiences, tours, activities – you call them what you like, travel brands want a bigger piece of the sector. For plenty of companies, it's no longer just about the flight or hotel. How a Restored Raffles Hotel Will Target a New Generation of Luxury Travelers How do you update an iconic hotel without losing its charm? That's the challenge currently facing interior designers working on Raffles Singapore. Resy Announces Global Expansion and New Tech Updates for Restaurants Resy's innovations, especially in inventory management and customer feedback, are a windfall of potential tech upgrades for restaurants. It'll be interesting to see which integrations restaurant owners keep coming back to most. Popular Now Marriott Finally Reveals How It Will Combine All 3 of Its Loyalty Programs How much do we want to bet that the new loyalty brand that debuts next year turns out to be Marriott Preferred Guest? Or better yet, just Marriott Rewards? Booking Holdings CEO: We're on the Road Toward Going Full-Service Evolve or be crushed. That's CEO Glenn Fogel's philosophy about business in general and Booking Holdings in particular. But the move toward becoming more of a full-service online travel agency comes with the risk of losing focus on accommodations. No one ever said all this online travel agency stuff is easy. How Damaging Will a 60 Minutes Report Be to Allegiant Air? The 60 Minutes report on Sunday about Allegiant Air was solid, serious journalism. But it wasn't much of a surprise to industry insiders, who have known about the carrier's issues for awhile. Will executives have to deal with a wider fallout now? For Gmail users: If you are using the tabbed inbox, Skift emails may be pushed to the 'Promotions' tab. To get updates from Skift direct to your primary inbox, drag and drop this email to that tab. You received this email because you are subscribed to Skift Daily Newsletter from Skift.

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