:
Booking.com fined record £6.1m for “unfair business practices” in Hungary
Reading Time: 2 minutesBudapest: Online travel agency Booking.com has been fined 2.5 billion forints [£6.1 million] by the national competition watchdog in Hungary, the GVH, for “misleading advertisements” and “aggressive” sales tactics, designed to exert “psychological pressure” on consumers. A probe was launched on the Amsterdam-based company’s platform as far back as 2018 when its income in fees drew […]
Booking.com halts all UK rentals during lockdown period
Reading Time: 2 minutesUK: Online travel agency Booking.com has made the decision to halt all rentals within the United Kingdom during the current lockdown period. The decision comes after pressure from MPs, primarily Scottish National Party [SNP] Westminster leader Ian Blackford, who had been responsible for similar pressure campaigns on other OTAs. Blackford, alongside Liberal Democrat MP Jamie […]
Booking.com and Properly team up for cleaning program pilot for rentals
Reading Time: 2 minutesWorldwide: Vacation rental management software tool and housekeeping platform, Properly, is piloting a program in partnership with Booking.com in order to enforce stricter quality and safety standards to help operators manage their way through the coronavirus and lead a post-pandemic recovery. With cleanliness and sanitation standards increasingly coming under the microscope, particularly in wake of […]
Booking.com plans for lay offs after landing $4bn loan
Reading Time: 2 minutesNetherlands: Online travel agent Booking.com has told employees in an internal memo that layoffs from the company are “probable”, just days after the Financial Times reported it had received a $4 billion loan in bonds from investors to fend off severe effects caused by the coronavirus crisis. In a video conference held with hundreds of […]
Airbnb lowers internal valuation to $26bn amid drop in bookings
Reading Time: 2 minutesUS: Airbnb has reportedly lowered its internal valuation by 16 per cent to $26 billion as a result of the global lockdowns and restrictions on mobility caused by Covid-19, sources familiar with the matter told Reuters. At the time of its last funding round in September 2017, when it raised $1 billion, Airbnb had a […]
Lobby group calls for OTA bailout help in line with airlines and hotels
Reading Time: 3 minutesEurope: Travel tech lobby group EU Travel Tech has appealed for the European Commission to offer equivalent bailout support to its OTA and global distribution system members in line with the help being offered to airlines and hotels. The group, formerly known as the European Technology and Travel Service Organisation, called on the Commission and […]
Indian e-commerce tax set to affect online platforms
Reading Time: 2 minutesIndia: An amended finance bill, passed in parliament on Monday, may increase prices for Indian users of major e-commerce platforms. The bill, which comes into effect on 1 April, adds a two per cent equalisation levy on any foreign companies making digital sales. Notable firms which will be hit include Netflix, Booking.com and Airbnb. The […]
Booking.com CEO addresses company’s future in employee letter
Reading Time: 2 minutesUS: In a letter to his company’s employees, Booking Holdings CEO Glenn Fogel has outlined the company’s coronavirus strategy. The company, which owns leading OTA Booking.com has committed to cutting spending, salaries, and implementing a company-wide hiring freeze. Fogel said: “This is not the first major disruption to travel we have endured as a business, […]
Second Short Stay Show held in London: Review
Reading Time: 2 minutesUK: The second annual Short Stay Show event, sponsored by Booking.com, took place at ExCeL London this week, as industry professionals from across the short-term rental industry united for a one-day conference against the backdrop of the unfolding coronavirus outbreak. The event is primarily aimed at owners, managers and investors of short-term accommodations who were […]
Short Stay Show predicts 2020 short-term rental trends
Reading Time: 2 minutesWorldwide: Labelled as the biggest disruptor in the travel industry, the short stay sector has boomed over the past decade and shows no sign of slowing down. In London alone, City Hall acknowledged that the 2.2 million guests who stayed in short-term rentals in the year to July 2018 generated £1.3 billion for the local […]