Hyatt CEO: Airbnb Has Made Our Business Stronger

by Jessica Montevago
Hyatt CEO: Airbnb Has Made Our Business Stronger

"There are more and more people around the world who can afford to travel. That base of travelers that is expanding is significantly driven by travelers coming out of China." Photo: Andaz Singapore, Hyatt


Despite “fierce” competition from Airbnb, the Hyatt brand is flourishing, having a record year both for hotel openings and planned construction.

"Airbnb has actually expanded travel and they've inspired us to think about how we do business," CEO Mark Hoplamazian said at a presentation last Friday.

“Airbnb has demonstrated that people really do care about the interpersonal human experience. Their founding was about connecting individual travelers to real people," he said at the Baron Investment Conference in New York, adding that Hyatt employees are being trained to focus on "letting guests be themselves."

The disruption of Airbnb has led the hotel chain to focus on its strengths, such as the services it provides high-end clientele, wellness offerings, and an emphasis on corporate culture. It has been a successful strategy, and Hoplamazian said business is stronger than ever.

The hotel giant is opening at least 60 hotels this year and growing at a record pace for new building. It also acquired two wellness companies this year, Exhale, which offer a range of spa and fitness services; and resort and spa operator Miraval.

Also contributing to that growth is China’s growing middle class, which he said has accounted for 120 million of the world's travelers this year.

"There are more and more people around the world who can afford to travel. That base of travelers that is expanding is significantly driven by travelers coming out of China,” he said.

  0
  0
Tip of the Day
Daily Top List

Most Useful Twitter Accounts for Travel Agents

1. AskTSA

2. FlightRadar24

3. Department of State

4. CLIA Global

5. ASTA

Source: TMR

TMR THIS WEEK
http://services.travelsavers.com/AMGService.svc/REST/GetImage?ImageID=461e0cb1-8512-e811-9f33-782bcb66a2f2

Don't Miss the Boat on Potential Expedition Cruise Sales

Sponsored by Silversea Cruises

Expedition cruising is exploding, according to industry experts, with no signs of slowing down any time soon.

TMR Recommendations
Top Stories
U.S.-Brazil Airline Flights Poised to Expand
U.S.-Brazil Airline Flights Poised to Expand

Flying to Brazil could get easier and cheaper in the coming year, as the country cuts red tape for American visitors.

Forbes Travel Guide Announces Prestigious 2018 Five-Star Hotel Rating List
Forbes Travel Guide Announces Prestigious 2018 Five-Star Hotel Rating List

Twenty-seven new hotels made the Five-Stars cut and 11 new destinations around the world were added.

Scenic Group Acquires Mayflower Tours
Scenic Group Acquires Mayflower Tours

Mayflower’s founders, John and Mary Stachnik, are retiring and passing the torch of the company they built nearly four decades ago.

Disney World’s Toy Story Land Comes to Life This Summer
Disney World’s Toy Story Land Comes to Life This Summer

The highly-anticipated land gets an official opening date.

Florida Keys and the Caribbean Tourism on the Rebound After Hurricanes
Florida Keys and the Caribbean Tourism on the Rebound After Hurricanes

The destinations are moving forward, full steam ahead, welcoming tourists back to their favorite haunts and sandy beaches.

Excellence Hotels Growth Highlights the Luxury Evolution of All-Inclusives
Excellence Hotels Growth Highlights the Luxury Evolution of All-Inclusives

Bigger rooms, better food and private clubs are the new standard as the definition of ‘all-inclusive’ goes upscale.

News Briefs
TMR Report Cards
Advertiser's Voice
Advertiser's Voice: Regent Seven Seas Cruises