2023 Amex M&E, BCD M&E Mtgs. Forecasts; Hotel Rate Projections; Q3 Earnings

 

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October 26, 2022 Amex M&E: Small, Simple and Internal Mtgs. to Dominate Recovery By Angelique Platas and Elizabeth West Meetings, events and consequently group pricing power at hotels shows no signs of slowing down going into 2023, according to a new report from American Express Meetings & Events. The report points to rising meetings volumes still pushing a market struggling to ramp up venue availability and services. Keep Reading BCD M&E: Rising Mtg. Costs Challenging 2023 Strategies Meeting host organizations must get creative to navigate rising costs and hotel staffing issues, according to a new report from BCD Meetings & Events. Keep Reading Survey: Economy, Not Covid, Chief Threat to '23 Travel Volume International business travel recovery has reached the halfway mark as economic concerns now overshadow Covid-19 as the key obstacle to business travel, according to a Global Business Travel Association poll of 594 member travel buyers and suppliers. Keep Reading TripBam: Q3 Market Rates Level Off But Set to Rise Global market hotel rates have declined since early June, and lessening demand for leisure helped "bring down rates for corporate transient," according to a new report from TripBam. Keep Reading TripActions to Accelerate Expansion After $300M Financing Round TripActions has raised an additional $300 million in funding, which the travel, card and expense management platform said brings its valuation to $9.2 billion. Keep Reading Payment/Expense Platform Center Adds $15M in Funding Corporate card and expense platform provider Center has raised $15 million in its latest funding round, bringing its total funding to more than $110 million. Keep Reading Marriott Agrees to Acquire Mexican Midscale Brands for $100M Marriott International signed a $100 million deal with Mexico-based Hoteles City Express to acquire its City Express brand portfolio. Keep Reading Our traditional view on business traffic recovery rates relative to 2019 may now be an obsolete measurement." - United's Andrew Nocella Read More Spirit Shareholders Approve JetBlue Merger Spirit Airlines stockholders have approved the merger agreement with JetBlue based on preliminary voting results, Spirit announced. Keep Reading American Signs New GDS Agreements for Expanded '23 NDC American Airlines has signed new multi-year agreements with the three major global distribution systems, which will allow it to provide expanded New Distribution Capability offerings to customers beginning in 2023. Keep Reading ATPCO Commits to 'Dynamic' Airline Offers ATPCO has committed to build the "framework needed" for 80 percent of all airline offers to be "dynamically" created by 2026, the company announced. Keep Reading Travelport Plus to Provide Air Content to China's DidaTravel Chinese hotel wholesaler DidaTravel is partnering with Travelport as it expands into providing airline content via a newly launched global distribution system portal. Keep Reading Q3 Earnings Reports Amex: Q3 Large Client T&E Spending Nears '19 Level Delta Expects Strong Q4 Corp. Demand United: New Work Patterns Help Offset Lagging Corp. Revenue American Reports Record Revenue, Will Eliminate First Class JetBlue Sees Q3 Corp. Volume Improve, with 'Choppiness' Alaska: Q3 Corp. Travel Volume Flat from Q2 IHG: Q3 Americas Corp. Travel Revenue Back to Pre-Covid Levels  FCM Consulting Launches Global Aviation Practice FCM Consulting has created a new global specialist practice focusing on aviation, naming air practice consulting lead Florian Mueller to head the division. Keep Reading Sabre Survey: 'Strong Optimism' for APAC Corp. Travel A solid majority, 82 percent, of travel management professionals in the Asia-Pacific region expect corporate travel in the region over the next year will return at least to pre-pandemic levels, according to a survey of 571 travel agents conducted by Sabre. Keep Reading ARC: September Airfares Up for First Time Since May Reversing the summer trend of declining U.S. air travel ticket prices, the average roundtrip fare in September 2022 was $560, up from the $526 reported in August, and a 44 percent year-over-year increase, according to Airlines Reporting Corp. Keep Reading CPI: Average September U.S. Airfares Jump Average U.S. airfares had been declining on a month-over-month basis since June, but that trend reversed in September. Keep Reading Southwest Launches Corp. Referral Program Southwest Airlines has launched a referral program for its Southwest Business division, the company announced. Keep Reading Aventri, MeetingPlay and Eventcore Rebrand as Stova Merged event-tech suppliers Aventri and MeetingPlay and the recently acquired Eventcore all are officially rebranding as Stova. Keep Reading Four Seasons Names ALG's Reynal CEO  Read More Tivona Ascends to Head of Travel and Expense at Coupa  Read More United to Add CTM's Veloso to Sales Team  Read More Sonder President, CFO to Step Down, Join Board  Read More Founding Member Maritime Travel Returns to GlobalStar  Read More Latam to Exit Chapter 11  Read More Cvent Expanding Virtual Payment Features for Amex Users  Read More BTP Automation Adds Sr. Director for Sales  Read More The Apartment Network to Add Funding from Parent Co.  Read More Etihad Appoints Newton-Smith as Americas VP  Read More Executive Travel Adds Business Development VP  Read More El Barkouki Rejoins Dorchester as Global Sales Director  Read More 301 Route 17 North, Suite 1150 Rutherford, New Jersey, USA 07070

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