Traveling Blog: Hyatt's Homesharing Stumble + Bulgaria's Tourism Opportunity + Skift's 6 Must-Listen Podcasts

August 2, 2018

Editor's Note

We wonder how Hilton CEO Chris Nassetta was feeling on Wednesday after his rival Hyatt Hotels reported earnings. Hilton has been the lone holdout among the big chains from dabbling in homesharing as a way to win back some ground against Airbnb. Hyatt, on the other hand, is dabbling, and paid the price in the most recent quarter. It reported Wednesday it was taking a $22 million impairment charge on its investment in private accommodations provider Oasis. Hyatt said it under-performed and was not that great of a fit so far.

That news follows AccorHotels' disclosure last week it would take a $288 million write-off on investments that included Onefinestay. So it turns out homesharing may not be as easy it looked to the hotel giants a year ago, writes Senior Hospitality Editor Deanna Ting below. It's early days, of course, and Airbnb isn't doing itself any favors in its skirmishes with cities. But that brings us back to Hilton's Nassetta. He hasn't ruled out jumping in, but he told investors back in April he's fully aware how different the business is from his own. Based on the heavy impairment charges of the past two weeks, it sure looks like the Hilton chief executive's restraint is the smarter move at this point.

— Tom Lowry, Managing Editor

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Seems like both Hyatt and AccorHotels are struggling to find ways to make private accommodations work with their current business models. But we don't think they should give up hope just yet.

Vibrant Sofia Demonstrates Need for Tourism Strategies in 'New Europe'

While destinations with overtourism issues are getting a lot of attention, other cities are emerging as new frontiers for tourism. Sofia, Bulgaria, is one of those cities with a unique opportunity to declare to the world what it wants to be as a destination, and to define a vision and strategy for how tourism can develop sustainably.

The Top 6 Skift Podcasts of All Time

Relive some of our finest interviews, events, and behind-the-scenes moments with these popular podcasts from Skift.

Hyatt's New Alliance Hints at the Future of Hotel Loyalty Programs

If independent hotel collections like Small Luxury Hotels and its peers want to thrive, pursuing more loyalty tie-ins seems likely, but they have to be careful to stress the additional value they can bring for independent hotels. Otherwise, what's stopping independents from flocking to the hotel soft brands?

Are the Good Times Ending for Cheap Flights?

Airline passengers never know how good they have it until it's too late. Airfares are going up, and passengers are going to remember 2016-17 as the glory years for fare bargains. Of course, at the time, they didn't think so.

Skift Table: Guest Chef Collaborations Do More Than Fill Seats For a Night

For some chefs, inviting colleagues from other restaurants is about camaraderie and community building. For others, it's offering something new to the guests. All agree it's a great marketing tool to drum up business on slower nights.

Cvent's CEO on the Future of Event Experience

Cvent wants to make it easier for customers to use a variety of its tools, in order to leverage the wide spectrum of data it collects on attendee behavior. Owing to the complexity of its platform, this remains a work in progress.

Wyndham Hotels Maps Out Growth Plans in First Earnings Call Since Spinoff

Having finally stepped out on its own, Wyndham Hotels is in pursuit of what every major hospitality company is today: more scale, improved guest experiences, and more bookings.

Air France-KLM Struggles as Strikes Hit Profit

Employee unrest at Air France took its toll. The airline group really needs to appoint a new CEO soon so it can get back on track.

Your Big Year Sparks National Conversation for American Youth to Travel

Sponsored by Your Big Year

Young Americans do not travel as much as other Western cultures — Your Big Year wants to change that. By fostering empathy in young people for different cultures and communities, Your Big Year encourages young travelers to understand the world.

It's so rare to see something new in online travel. Expedia's Add-On Advantage appears to be a new wrinkle, and HotelTonight's Today's Daily Drop is a flash sale variation that disappears within 15 minutes. Both gives hoteliers new ways to target travelers, who may find some good deals in the process.

AccorHotels Buys Majority Stake in Boutique Lifestyle Chain 21 c Museum Hotels

Again, we ask ourselves, what is out there that AccorHotels will not buy?

For the Long Haul, Lessons on Business Longevity

Going slow to go fast. Less is more. Less is human. Patience. Sound like crazy ideas to build a company around in today's world, right? But this is the culture that has brought Skift to its sixth anniversary today. To recognize our achievement, we are proud to offer you this digital book we created on the business of longevity.

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