Wix.com (WIX) & HotelRunner Partner to Redevelop Wix Hotels
Wix.com WIX has announced a partnership with HotelRunner to redevelop Wix Hotels. The newly developed platform, which features several new professional tools, is designed to aid users in managing and growing their hospitality businesses.
HotelRunner is a cloud-based online sales and digital marketing platform that assists hotels and travel agencies improve their online presence. HotelRunner is currently being used in 60,000 hotels across 193 different countries.
Wix.com Ltd. Price and Consensus
Wix.com Ltd. price-consensus-chart | Wix.com Ltd. Quote
By integrating its platform with HotelRunner’s comprehensive tech solutions, Wix plans to provide a single reliable platform for the business owners of boutique hotels, chain hotels, vacation rentals, resorts, etc., to help them grow their business online and on premise.
By leveraging Wix’s platform, business owners will be able to construct a website, manage their property, receive direct reservations and connect to online sales channels and travel agencies like Expedia and Airbnb. This will aid in driving revenues for the business owners.
Wix Hotels by HotelRunner also aids in the management of rates, policies, taxes and availability and maintains all inventory in sync while adopting complex pricing and revenue management techniques.
The hotel industry is undergoing rapid digital transformation amid increasing travel activities across the globe in the post-pandemic era. Wix Hotels by HotelRunner along with Seating Map Builder and integration with DoorDash will aid users to speed up digital transformation efforts.
Wix launched a new builder for business owners and venues to create customized seating maps for their in-person events. This will enable their customers to select and purchase assigned seats for those events. Business owners can develop customized seating maps according to their specific venue and create different types of tickets to align with the seating map.
Previously, Wix announced the integration of WIX Restaurants with DoorDash white-label fulfillment platform — DoorDash Drive. This will provide the restaurant owners enlisted on WIX Restaurants access to a large delivery fleet that will help them rationalize their operations by incorporating delivery to their direct ordering channel with a flat-rate delivery fee.
Wix Hotels by HotelRunner is now in beta testing, with English being the first language to be introduced, followed by additional languages. After beta, existing Wix Hotels users will be migrated to the new solution.
Shares of WIX have declined 77.9% compared with the industry’s fall of 29.3% in the past year.
Zacks Rank and Stocks to Consider
Wix.com currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks from the broader technology space are InterDigital IDCC, Vishay Intertechnology VSH and Avnet AVT. InterDigital and Avnet currently sport a Zacks Ranks #1 (Strong Buy), whereas Vishay Intertechnology holds a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for InterDigital’s 2022 earnings is pegged at $3.28 per share, increasing 5.12% in the past 60 days. The long-term earnings growth rate is anticipated to be 15%.
InterDigital’s earnings beat the Zacks Consensus Estimate in the last four quarters, the average being 141.13%. Shares of IDCC have declined 21.5% in the past year.
The Zacks Consensus Estimate for Vishay Intertechnology’s 2022 earnings is pegged at $2.68 per share, rising 10.3% in the past 60 days. The long-term earnings growth rate is anticipated to be 22.7%.
Vishay Intertechnology’s earnings beat the Zacks Consensus Estimate in the last four quarters, the average being 4.96%. Shares of VSH have declined 12.5% in the past year.
The Zacks Consensus Estimate for Avnet’s fiscal 2022 earnings is pegged at $6.83 per share, rising 20.5% in the past 60 days. The long-term earnings growth rate is anticipated to be 37.2%.
Avnet’s earnings beat the Zacks Consensus Estimate in the last four quarters, the average being 21.22%. Shares of Avnet have grown 11.7% in the past year.
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