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"Gillian has led Booking.com through a period of global growth and product and operational expansion, and we look forward to continuing to work with her in her new role of Chairwoman," said Fogel. "Booking.com has become an industry leader with more than 17,500 employees across more than 190 offices all over the world who serve Booking.com's growing base of global customers and partners. Fogel continued, "I am excited by the opportunity to guide our largest business and drive even more alignment across the Booking Holdings brands as we continue on our mission to help people experience the world.
Read the beginning of this article here. At the end of Q1 2019, the first two positions in KG Funds Management’s portfolio have remained without any changes in shares held compared to the last quarter of 2018. The biggest position at the end of Q1 2019 was Visa Inc. (NYSE:V), a multinational corporation based in Foster […]
(Bloomberg) -- Gone are the days of air mattresses on the floor. Airbnb Inc. is now catering to the mega-wealthy with a new tier of luxury rentals.Airbnb Luxe went live Tuesday morning after long being teased, with 2,000 new listings on Airbnb’s website offering guests the chance to stay in some of the world’s most extravagant homes. Everything from entire islands to medieval castles and mansions decked out with water slides, dinosaur skulls, and archery ranges are up for rent.The average luxury listing has an asking price of $14,000 a week—but can go as high as $1 million a week for a private atoll near Tahiti that comprises 21 bungalows and a staff of 50.Luxury travelers have been eyeing high-quality home-rentals for a while, says Nick Guezen, Airbnb’s global director of portfolio strategy. But the market hasn’t offered enough security to high-profile and mega-rich clients who seek privacy, he says. “I think that's something that was missing—the idea of ‘I want to travel to a luxury home, but I’m not sure where to find it or who to trust.’”Which is not entirely the case, considering Accor SA-owned Onefinestay, the second-home rental platform ThirdHome, and apartment-rental company Paris Perfect are all established competitors in the space. And Airbnb Luxe itself is essentially a re-branding of Luxury Retreats, a Canadian company that specializes in high-quality listings and was acquired by Airbnb in 2017 for around $300 million. None of the listings on Luxe are new to market, they just now sit under the Airbnb umbrella.The company is betting on the strength of its brand to give it the competitive edge. “People are growing up with Airbnb,” said Eshan Ponnadurai, global marketing director of luxury for Airbnb. “Someone that started in their early 20s renting a room at $100 a night and is now growing in affluence may want a room at $1,000 a night.”Because Airbnb has become part of the cultural dialogue, renting out your home to a stranger has become legitimized in a sociological sense as well—even to the super-rich, says New York University Professor Arun Sundararajan, an expert on the sharing economy. In the past, those who own multimillion dollar properties might have been reticent to share them with strangers, but today most people know someone who has stayed in an Aribnb, he says. “It feels like a more normal activity and that lowers the barriers to rent out a more expensive home.”In 2017, only 36 percent of affluent travelers (those with an income over $100,000) surveyed by Skift Research reported to staying in alternative accommodation or home rentals. This year that number has mushroomed to 59 percent. Luxury LegitimacySince its founding in 2008, Airbnb has upended the travel industry, challenging the big hotel chains and travel sites like Booking Holdings Inc. while also attracting the ire of cities around the world that are seeking to crack down on illegal listings and grappling with rising rents. Conquering the luxury rental market will allow Airbnb to sell itself as a company that can not only comply with official rules, but also cater to the world’s richest—and most demanding— travelers. “This is a way for a luxury traveler to book a home without any worries or hassle,” Guezen says. “We can give them something that is vetted and can be trusted.”In April, it took over 10 floors of New York’s 75 Rockefeller Plaza with plans to convert them into 200 overnight apartment-style suites. In May, Airbnb added high-profile luxury retail executive Angela Ahrendts to its board of directors. Ahrendts, 58, spent five years overhauling Apple Inc.’s retail operations and, prior to that, transformed Burberry into a global luxury brand. This new luxury tier represents a lucrative revenue source as well, even if Luxe’s 2,000 listings pale in proportion to the more than 6 million listings available on the general site. The company takes a percentage of the cost of each booking it arranges, so more-expensive inventory generates higher margins and helps justify the privately held company’s $31 billion valuation. Under Airbnb Luxe, the entire fee is coming from the host and the percentage depends on the market and the type of partnership arranged with homeowners, Guezen says, but declines to give any specifics as the fees vary too much between properties. The global luxury travel market is worth more than $200 billion, and analysts expect it to continue growing.Trip DesignersThe biggest difference booking under Luxe vs. Airbnb’s regular or higher-tier Plus listings is free access to a trip designer, who arranges check-in logistics, local bespoke experiences, and services from childcare to private chefs or in-house massage therapists. (While novel for Airbnb, this sort of high-touch service, similar to that provided by Onefinestay’s dedicated concierges, is standard in super-high-end home rentals.)Airbnb’s 20 trip designers will be available to guests around-the-clock for VIP support. Some have already handled bizarre requests during Luxe’s pilot phase, such as building a temporary basketball court in Los Cabos, Mexico, for an NBA player or cordoning off a section of a jungle in Tulum for a high-profile family to cave dive in private. Homeowners or their representatives must apply to be part of Luxe. Each property is reviewed by an internal team that runs through a 300-point check list scrutinizing everything from the home’s design qualities and architecture to the quality of its linen and the water pressure in its showers. Listings include the Fleming Villa in Jamaica where Ian Fleming penned his James Bond novels and a medieval castle in the Tuscan countryside with nearly 100 acres of land for hiking and harvesting local produce. Many of the homes are owned by megawealthy families, including billionaires and celebrities, Guezen says. Some own multiple properties around the world and rent up to half a dozen through the site, he says. In order to protect the host’s privacy, guests are never told who owns the property and each home is stripped of anything that could personally identify them, like a bedside photograph or snail mail. Staff are advised not to disclose the identity of hosts or guests and each property is insured by Airbnb’s standard $1 million guarantee to cover any damages. Guezen says these super-rich hosts rent out their vacation retreats not only to monetize their assets, but also to ensure that the properties are well-oiled for their own stays. The move into luxury rentals is the next step in Airbnb’s plan to diversify its business ahead of an initial public offering likely next year. The company has been working toward becoming an end-to-end travel platform that can one day help travelers book flights through the site. Earlier this month it expanded its Experiences platform to include adventure tourism, offering travelers the chance to search for UFOs in Arizona or track lions on foot with Samburu guides in Kenya.Airbnb says the launch of Luxe helps meet increasing demand for luxury properties. In 2018, the number of Airbnb bookings for listings worth at least $1,000 a night increased by more than 60 percent, according to the company. “Today’s luxury traveler is craving more than just high-end accommodations,” Airbnb Chief Executive Officer Brian Chesky said in a statement. “They seek transformation and experiences that leave them feeling more connected to each other and to their destination.” Example Luxe ListingsCaribbean Literary HavenYou can book a stay at the Fleming Villa in Orcabessa, Jamaica, where Ian Fleming found inspiration for his James Bond novels. In addition to five bedrooms, there’s a private swimming pool and access to the Caribbean, along with the use of amenities at the nearby GoldenEye Resort, such as tennis, yoga and a spa. The open-plan bungalow layout features bamboo furnishings, high ceilings, and large windows. $4,455 per night; three-night minimumCote d’Azur VillaThis nine-bedroom, 18-bath property gives you access to Cannes, France, the Mediterranean, and nearby mountains. There’s a wine cellar, library, infinity pool with pool bar, and a terrace. The interiors have a serene tone with neutral colors and white sofas, and an included private chef and housekeepers ensure that you don’t have to lift a finger while on vacation. $13,265 per night; 30-night minimumMexican Beach EscapeThis hacienda-style villa in San Jose Del Cabo, Mexico, has six bedrooms and eight and a half baths for up to 15 guests. It has a waterslide descending into a curving infinity pool as well as an ocean-view terrace and and on-call, in-house masseuse. $3,200 per night; four-night minimum Entire Island ResortNukutepipi, a private island in French Polynesia, features multiple houses and bungalows surrounded by palm forests and white-sand beaches. The staff includes a chef, captain, doctor, massage therapist, and activity coordinators. There’s a master villa and 15 guest houses with a total of 21 bedroom suites, making it perfect for weddings or group retreats. $146,183 per night; seven-night minimumTo contact the authors of this story: Olivia Carville in New York at firstname.lastname@example.orgClaire Ballentine in New York at email@example.comTo contact the editor responsible for this story: Justin Ocean at firstname.lastname@example.orgFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Some have more dollars than sense, they say, so even companies that have no revenue, no profit, and a record of...
Booking Holdings Inc NASDAQ/NGS:BKNGView full report here! Summary * Bearish sentiment is low * Economic output in this company's sector is contracting Bearish sentimentShort interest | PositiveShort interest is extremely low for BKNG with fewer than 1% of shares on loan. This could indicate that investors who seek to profit from falling equity prices are not currently targeting BKNG. Money flowETF/Index ownership | NeutralETF activity is neutral. ETFs that hold BKNG had net inflows of $4.01 billion over the last one-month. While these are not among the highest inflows of the last year, the rate of inflow is increasing. Economic sentimentPMI by IHS Markit | NegativeAccording to the latest IHS Markit Purchasing Managersâ€™ Index (PMI) data, output in the Consumer Servicesis falling. The rate of decline is significant relative to the trend shown over the past year, and is accelerating. Credit worthinessCredit default swapCDS data is not available for this security.Please send all inquiries related to the report to email@example.com.Charts and report PDFs will only be available for 30 days after publishing.This document has been produced for information purposes only and is not to be relied upon or as construed as investment advice. To the fullest extent permitted by law, IHS Markit disclaims any responsibility or liability, whether in contract, tort (including, without limitation, negligence), equity or otherwise, for any loss or damage arising from any reliance on or the use of this material in any way. Please view the full legal disclaimer and methodology information on pages 2-3 of the full report.
Facebook has reportedly signed up more than a dozen partners to help fund and manage its new cryptocurrency, which it plans to publicly unveil this week.
(Bloomberg) -- Airbnb Inc. is expanding into “adventure tourism,” offering travelers the chance to search for UFOs in Arizona or track lions on foot with Samburu guides in Kenya, as the room-rental company seeks to broaden its business in advance of an initial public offering likely next year.The company’s latest foray into tourism, called Airbnb Adventures, will start with more than 200 global activities. The offering is an extension of its tour service Airbnb Experiences, which the company started in 2016. Adventures will offer more elaborate multiday trips, where hosts act as tour guides, arranging itineraries, accommodation, meals and costs for as many as 12 people at a time, the company said Thursday in a statement.Airbnb is striving to diversify its business in the lead-up to an IPO that may come in 2020. It has recently vowed to become an end-to-end travel platform, offering hotel booking, tours and potentially even flights on top of its traditional home-share business.The San Francisco-based company began in 2008 by persuading millions of people to open up their homes to strangers. Now valued at $31 billion, it has more than 6 million listings worldwide, including its recent expansion into luxury real estate when it took over 10 floors of Rockefeller Plaza in New York.Airbnb said the price of its new Adventure program can vary from $79 for an overnight stay to $5,000 for a 10-day trip.Airbnb is among the companies vying for a share of the international adventure travel market, which the Adventure Travel Trade Association valued at almost $700 billion in 2017. Booking Holdings Inc. launched Booking Experiences in the U.S. in 2018 and startups like GetYourGuide GmbH, Vayable Inc. and Peek Travel Inc. have also raised venture capital for their own tour-booking websites and applications.However, Airbnb Adventures are exclusive to the platform and can’t be found on any other major booking site, the company said.To contact the reporter on this story: Olivia Carville in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Jillian Ward at email@example.com, Andrew Pollack, Anne VanderMeyFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
STAMFORD, Conn., June 12, 2019 /PRNewswire/ -- A new global study from travel search site momondo, "The Value of Traveling 2019: Opening Our World" reveals that we see the world as increasingly divided. The report also supports the positive correlation between travel and open-mindedness. "At momondo our mission is to open the world and our newest initiative reaffirms this," said Per Christiansen, VP, Marketing EMEA at momondo.
(Bloomberg) -- Online travel booking site Nustay A/S has filed a complaint to the European Union’s antitrust regulator, claiming Expedia Group Inc. and Booking Holdings Inc. are trying to “kill off” the startup for offering lower prices and punishing hotels that appear on its site.The Danish company said the online travel giants were in breach of competition rules by trying to maintain “artificially high price levels” for hotel rooms -- thereby potentially trying to keep their commissions high -- by preventing Nustay from offering lower prices.Founded in 2014, Nustay advertises rooms booked at a block rate, as well as direct on-demand booking, in a bid to provide customers cheaper offers than often appear on rival sites. The Danish website also charges low commissions, resulting in better prices for customers but the same earnings for hotels, it says.Nustay said Expedia and Booking.com downgraded hotels in their search rankings if a hotel’s prices were lower on a competing website, harming the hotels’ ability to land bookings. Hotels, in turn, are pressuring Nustay to raise prices so they wouldn’t lose more business on Booking and Expedia, it added.The European Commission said it had received Nustay’s complaint and was assessing it. Booking and Expedia didn’t respond to requests for comment.“We really have the possibility to give a better product to the consumers at a lower price, but we are seeing a tremendous effort from Expedia and Booking.com to kill us before we even get a chance to get a foothold, “ Nustay Chief Executive Officer Mathias Lundoe Nielsen said in an interview, adding they decided to file the complaint to try to get fair terms and “show how big of a problem it actually is.”The company said its visibility online increased rapidly last fall when Alphabet Inc.’s Google started including Nustay’s cheaper offers in its hotel search, alongside Booking and Expedia’s offerings.That development also triggered complaints from more than a thousand hotels, who urged Nustay to increase their prices, after being pressured by Expedia and Booking, Lundoe Nielsen said. Some of the hotels complained they were losing so much business from Booking or Expedia, and because Nustay doesn’t represent a large part of its business, they just wanted Nustay to increase the price to appease the online travel giants, he said.In one email exchange between a European hotel and Nustay and seen by Bloomberg, the owner said “we have been contacted by both of our partners Expedia and Booking.com, they both have asked us to contact the ones that are not in line with the prices we communicate.”Another hotel says “I am being penalized by Booking.com and Expedia because you are selling bedrooms at my properties cheaper than they are able to,” according to another email exchange.Expedia also directly urged Nustay to raise their prices in Google search, before it terminated a partnership about three months ago with the company as part of which it sold it some inventory, Lundoe Nielsen said.A Europe-wide antitrust crackdown in recent years saw Booking roll back some clauses obliging hotels to offer their best price to the site. European competition agencies flagged concerns about online bookings in a 2017 report. It said large hotel chains expected the biggest online travel sites to keep on growing, meaning any new rivals to them would face “significant difficulties.”Booking and Expedia have, in turn, urged the EU to probe how Google shows their sites in local and travel search results. Margrethe Vestager, the EU’s antitrust chief, has said she’s looking at Google’s local search.Online hotel booking sites are also being reviewed by Japanese authorities In the U.S., Expedia is under investigation in Utah for allegedly conspiring with the biggest U.S. hotel chains to manipulate search advertising on Google.(Updates with European Commission comment in fifth paragraph.)\--With assistance from Aoife White.To contact the reporter on this story: Natalia Drozdiak in Brussels at firstname.lastname@example.orgTo contact the editors responsible for this story: Giles Turner at email@example.com;Peter Chapman at firstname.lastname@example.orgFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Restaurants in California, Florida and Hawaii Receive Most Honors; Winners Span 19 States and Washington, D.C. SAN FRANCISCO , June 11, 2019 /PRNewswire/ -- As the days grow longer and we approach the ...
Take in the Great Outdoors This Summer: OpenTable Reveals 100 Best Outdoor Dining Restaurants in Canada for 2019
Horseman Capital Management is a hedge fund launched in 2000 by John Horseman, with its headquarters located in London (Belgravia) and Jersey, UK. Its founder, John Horseman, has been the fund’s CEO and Director since its launching. He was also the fund’s portfolio manager until 2006 when the position was taken over by Russell Clark, […]
Yanolja's gentrification of South Korean love hotels has brought the company a valuation of more than $1 billion from investors keen to capitalise on the globalisation of a novel approach to short-stay accommodation, its chief executive told Reuters. The budget hotel and online booking platform operator reached the valuation having secured $180 million from U.S. peer Booking Holdings Inc and Singapore sovereign wealth fund GIC Pte Ltd, Yanolja confirmed on Tuesday. It aims to conduct an initial public offering (IPO) as early as next year, CEO Kim Jong-yoon said in an earlier interview.
Booking Holdings (BKNG) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.
In a contrarian view, Goldman Sachs says 12 ‘crowded’ stocks held heavily by both mutual funds and hedge funds are likely to dramatically outperform the rest of the market amid two escalating U.S. trade wars. "The underperformance of popular positions today following President Trump’s announcement of tariffs on imports from Mexico underscores investor concern about crowded positions," said Goldman in its latest US Weekly Kickstart report.
SINGAPORE, June 6, 2019 /PRNewswire/ -- With the summer holidays fast approaching, Agoda, one of the world's fastest growing digital travel platforms, reveals Tokyo, London and Las Vegas continue to hold the top destination spots in 2019. Japan dominates Asia Pacific travelers' summer plans scooping six out of the top ten destinations this summer. Firm favorites Tokyo, Osaka, Okinawa Main Island, Kyoto, are joined this year by Sapporo and Fukuoka, knocking Singapore and Hong Kong out of the top 10 list.
SAN FRANCISCO, June 5, 2019 /PRNewswire/ -- OpenTable, the world's leading provider of online restaurant reservations and part of Booking Holdings, Inc. (NASDAQ: BKNG), today announced an industry-first partnership with Upserve, a full-service Restaurant Management Platform. The partnership allows data and guest insights to flow in real-time both ways between OpenTable's GuestCenter operating system and Upserve's restaurant point-of-sale system, enabling servers to have diner information and preferences at their fingertips to help them personalize service on the fly. "Our partnership with Upserve is the latest example of how we combine guest, reservation and spend data to help restaurants take hospitality to the next level," said Joseph Essas, Chief Technology Officer at OpenTable.