News in Brief

 

Hyatt, Venetian Resort form partnership in Las Vegas Hyatt Hotels has entered a long-term licensing agreement with The Venetian Resort Las Vegas, incorporating The Venetian and The Palazzo into Hyatt's booking and loyalty platforms. This partnership follows the end of Hyatt's affiliation with MGM Resorts and coincides with a $1.5 billion renovation at The Venetian.  Full Story: CoStar Group (12/18),  Travel Weekly (12/18)

TRAVEL WITH CONFIDENCE KNOWING YOU'RE COVERED UATP Insider's Club is offered to travel industry members who receive industry-free or reduced-rate travel privileges. With affordable enrollment fees, Insider's Club provides coverage on trips throughout the year. Enroll today at www.uatptravelprotection.com. Tripadvisor to buy Liberty TripAdvisor's shares (NurPhoto/Getty Images) Tripadvisor will merge with Liberty TripAdvisor Holdings in a $435 million deal that effectively amounts to repurchasing the 19% of Tripadvisor stock bought by the smaller company in 2012. Tripadvisor CEO Matt Goldberg says the transaction will simplify the capital structure and create strategic flexibility.  Full Story: PhocusWire (12/19)  Airline stocks soar to lead travel rebound Airline stocks have led a significant rally in the travel sector, with United Airlines, Allegiant and American Airlines reaching near-record highs. Travel booking companies like Expedia and Booking Holdings are also doing well as are cruise lines, as both air travel and cruise bookings have surpassed pre-pandemic levels.  Full Story: Investor's Business Daily Technology continues to transform business travel Business travel is showing strong recovery according to McKinsey, with the World Travel & Tourism Council projecting a global value of $1.5 trillion for 2024, driven by demand for face-to-face meetings. Unmanaged travel is creating opportunities for tech solutions, while managed travel is undergoing a digital transformation with AI-driven booking tools and direct folio billing and remote work continues to blur the lines between business and leisure travel.  Full Story: McKinsey (12/19)  Norwegian Cruise Line to update Bliss, Breakaway Norwegian Cruise Line plans major updates for the Norwegian Bliss and Norwegian Breakaway during winter drydocks. The Bliss will introduce Horizon Park, expand Cagney's Steakhouse and add new staterooms, while the Breakaway will debut the Silver Screen Bistro and expand Vibe Beach Club.  Full Story: Travel Weekly (12/18)  Luxury hotel brands broaden horizons with jet, sea travel (Peter Kramer/Getty Images) Luxury brands like Four Seasons, Ritz-Carlton and Aman are expanding their offerings to include private jet tours and cruises. This strategic move is designed to maintain and grow their high-end customer base by offering unique travel experiences beyond traditional hotel stays. These brands are leveraging their reputations to provide guests with luxury experiences both in the air and at sea.  Full Story: Business Insider (12/18)