Hotels’ Performance, Priceline’s New AI and Klook’s Evolution

Skift Take

Today’s podcast looks at the ups and downs of the global hotel industry’s year, Priceline’s new AI integration, and Klook’s plans for the next ten years.

Rashaad Jorden

Good morning from Skift. It’s Thursday, October 3, 2024 and here’s what you need to know about the business of travel today. 

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Episode Notes

The global hotel industry has seen some markets thrive this year while some others have struggled, reports Senior Hospitality Editor Sean O’Neill. 

A recent report by CBRE Hotels Research revealed U.S. revenue per available room would grow roughly 1% for the full year. That’s close to a 2 percentage point drop from its forecast in February. O’Neill notes that U.S. urban and airport hotels are set to overperform while those in resort locations will likely underperform relative to their post-pandemic boom. 

However, hotels in the United Arab Emirates saw their revenue per available room jump 30% from 2019 levels during the first half of this year. And Saudi Arabian hotels registered a 44% increase during the same period. 

Next, Priceline is the first travel company to say it’s incorporating the latest voice tech from OpenAI into its AI chatbot, writes Travel Technology Reporter Justin Dawes. 

Users can interact with its AI chatbot Penny by speaking or typing to search for hotels — but not flights or rental cars yet. The first version of Penny Voice went live on Tuesday, and the company said it has plans to unveil updates in the near future. 

Finally, online travel agency Klook celebrates its 10th anniversary this month. Senior Hospitality Editor Sean O’Neill examines how the company is looking to evolve.

Klook — Asia-Pacific’s largest online seller of travel experiences — is expanding into domestic travel and social commerce, among other areas. President and co-founder Eric Gnock Fah said Klook has built up domestic travel offerings. Fah noted all of Klook’s sales pre-Covid were cross-border. 

Klook is also leveraging social media for marketing and sales, with Fah attributing much of its recent growth in China to social media-driven sales. Popular chat and payment apps are increasingly letting influencers sell services. 

For more travel stories and deep dives into the latest trends, head to skift.com.