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Hyatt is doubling down on luxury while its competitors focus on budget hotels
The future of Hyatt is about luxury, lifestyle and resorts. Cheap hotels? Leave that to Hilton and Marriott. Hyatt on Thursday reported hefty profits ($294 million for the last three months of the year and $455 million for all of 2022) and significant growth — increasing its room count by nearly 7{5a5867cc9cca71cf546db38f42fbf171004839e3542174405390d177276b4f49} last year. That’s higher than Marriott’s 3.1{5a5867cc9cca71cf546db38f42fbf171004839e3542174405390d177276b4f49} net unit growth and Hilton’s 4.7{5a5867cc9cca71cf546db38f42fbf171004839e3542174405390d177276b4f49} (though both companies have larger portfolios than Hyatt’s). Marriott and Hilton both made moves in recent months to court travelers at more affordable price points. Marriott plans to acquire the Mexico-based City Express chain of midscale hotels later this year. Hilton launched the premium economy…
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Competitors Have the Travel Marketing Funnel All Wrong
The popular wisdom in the journey marketplace for a lot of years has been that the advertising “funnel, starting off with inspiration, investigate and discovery, booking, and then retention, ought to be centered all around flights for the reason that that’s the place tourists get started their excursion planning. Enter Airbnb chairman and CEO Brian Chesky who thinks on line travel rivals — his correct text had been “a lot of people” — have that flight emphasis at the leading of the funnel all erroneous, and that as a substitute internet marketing must revolve close to the location, and presumably lodging. Alas, it must be pointed out, Airbnb doesn’t present flights.…
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