Tag: Holdings

Asia is leading the way in travel recovery: Booking Holdings’ Agoda

SINGAPORE – Travel is recovering more quickly in Asia than in the West — but its the domestic market that’s driving that recovery, an online travel agency told CNBC this week.

“Asia is generally leading the way,” said John Brown, chief executive of Agoda, a subsidiary of American online travel firm Booking Holdings. “We’ve seen again in markets like Taiwan, certainly places like Thailand, where they really have the best control over Covid — those are the markets where we see the domestic bookings doing the best.”

The best pockets of recovery are domestic travel in Taiwan, Thailand and increasingly, Vietnam, he said.

Taiwan has reported 617 confirmed cases so far and has been free of domestic transmissions for more than 200 days. Thailand and Vietnam have also been successful in containing the pandemic, with 3,920 and 1,307 confirmed cases respectively, according to data compiled by Johns Hopkins University.

“Those domestic markets are even better off than they were last year, for domestic [travel] only,” Brown told “Street Signs Asia” on Monday.

This photo taken on October 20, 2020 shows tourists posing for photos next to anti-landing spikes placed along the coast of Taiwan’s Kinmen islands, which lie just 3.2 km from the mainland China coast in the Taiwan Strait.

Sam Yeh | AFP | Getty Images

The travel industry has been hammered by the coronavirus pandemic that saw countries closing their borders to tourists earlier this year. Some markets have since reopened, but demand has been weak.

“Generally, it’s been a domestic story, we’re still waiting for the international [demand] to come back,” he said.

In Europe and the U.S., there are pockets where domestic travel also looks “relatively good” despite coronavirus cases surging, Brown noted.

“But really, all eyes globally are looking at Asia to see how we manage this both domestically, and again with regard to the travel bubble between Singapore and Hong Kong, and the many others that we hope … will open up pretty soon,” he said.

The two cities were set to begin quarantine-free leisure travel on Sunday, but authorities announced on Saturday that the Singapore-Hong Kong travel bubble arrangement would be deferred for two weeks after Hong Kong reported a rise in cases.

Brown said he thinks it will still come online “soon enough” and that other markets will follow suit.

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Vacation Rental Market to Grow by $ 62.97 Bn in 2020, 9flats.Com Pte Ltd., Airbnb Inc., Booking Holdings Inc., and Wyndham Destinations Inc, Emerge as Key Contributors to Growth | Industry Analysis and Forecast 2024 | Technavio

LONDON–(BUSINESS WIRE)–Technavio has been monitoring the vacation rental market and it is poised to grow by USD 62.97 bn during 2020-2024, progressing at a CAGR of almost 7% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. Download a Free Sample Report on COVID-19

Impact of COVID-19

The COVID-19 pandemic continues to transform the growth of various industries, however, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. COVID-19 will have a low impact on the vacation rental market. The market growth in 2020 is likely to increase compared to market growth in 2019.

Frequently Asked Questions:

  • What are the major trends in the market?

    Technological advance is a major trend driving the growth of the market.
  • At what rate is the market projected to grow?

    The year-over-year growth for 2020 is estimated at 5.51% and the incremental growth of the market is anticipated to be $ 62.97 billion.
  • Who are the top players in the market?

    9flats.com Pte Ltd., Airbnb Inc., Booking Holdings Inc., Expedia Group Inc., Hotelplan Holding AG, MakeMyTrip Pvt. Ltd., NOVASOL AS, Oravel Stays Pvt. Ltd., TripAdvisor Inc., and Wyndham Destinations Inc, are some of the major market participants.
  • What is the key market driver?

    The adoption of effective promotional strategies is one of the major factors driving the market.
  • How big is the Europe market?

    The Europe region will contribute 37% of the market share.

     

Buy 1 Technavio report and get the second for 50% off. Buy 2 Technavio reports and get the third for free.

View market snapshot before purchasing

The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. 9flats.com Pte Ltd., Airbnb Inc., Booking Holdings Inc., Expedia Group Inc., Hotelplan Holding AG, MakeMyTrip Pvt. Ltd., NOVASOL AS, Oravel Stays Pvt. Ltd., TripAdvisor Inc., and Wyndham Destinations Inc. are some of the major market participants. The adoption of effective promotional strategies will offer immense growth opportunities. In a bid to help players strengthen their market foothold, this vacation rental market forecast report provides a detailed analysis of the leading market vendors. The report also empowers industry honchos with information on the competitive landscape and insights into the different product offerings offered by various companies.

Technavio’s custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations.

Vacation Rental Market 2020-2024: Segmentation

Vacation Rental Market is segmented as below:

  • Type
    • Managed By Owners
    • Professionally Managed
  • Courses
    • Graduate Courses
    • Certifications And Training
    • Post-graduate Courses
  • Geographic Landscape
    • APAC
    • Europe
    • MEA
    • North America
    • South America

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Online Vacation Center Holdings Corp. Announces Intended Delisting from the OTCQX Best Market

Online Vacation Center Holdings Corp. (OTCQX: ONVC), announced today that it intends to delist from the OTCQX Best Market.

The Company expects its common stock to be quoted in the Pink Market within the coming weeks. Additionally, the Company will discontinue its quarterly disclosure reporting beginning with its third quarter 2020 financial report.

The Board of Directors believes that shareholders will be best served by reducing the cost of compliance and the demands on management time required to maintain its current listing status.

About Online Vacation Center Holdings Corp.

Online Vacation Center Holdings Corp. is a Florida holding company, focused on internally growing and developing its group of diversified vacation marketers with a range of products that can be cross-sold to an extensive database. The Company provides vacation travel, marketing, and professional services through its wholly-owned subsidiaries including Online Vacation Center, Inc., Enrichment Journeys, LLC, Dunhill Vacations, Inc., Luxury Link, LLC, Home Based Travel Experts, LLC, dba Expedia Cruises® and Qwinzy, LLC. The Company, based in Fort Lauderdale, Florida, has been in business for over 45 years. Additional information can be found at www.onlinevacationcenter.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20201027005673/en/

Contacts

Online Vacation Center Holdings Corp.
Stephen A. Rudner, 954-377-6407
[email protected]

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