Reading Time: 4 minutes2020 brought dramatic ups and downs to the travel industry. Airports recorded a reduction of more than 6 billion passengers. Innovation brought the wonders of travel temporarily to the living rooms of people all around the world living under stay-at-home orders. There was hope in the form of a vaccine that promises a brighter future […]
Read More →Reading Time: 4 minutesWhile 2020 has been extraordinarily tough on travel, the industry is no stranger to periods of slow recovery. In fact, the effects of 9/11 on the profitability of airlines had only subsided for two years before the recession of 2008 hit, resetting the recovery clock. Hotels have traditionally bounced back from recessions quicker than airlines, […]
Read More →Reading Time: 4 minutesTravel agency commission settlement is an important steppingstone to building profitable relationships between hotels and travel agencies. Intermediaries, like travel agencies and OTAs, are an important part of a hotel’s distribution plan, and intermediary payments have grown to be the second largest expense of rooms departments. Along with a desirable hotel offering and tiered commissions, […]
Read More →Reading Time: 4 minutesTravel agent commissions are the travel agency payments received from hotels for the bookings an agent made at the hotel. For example, a commission payment may be 10% of the cost of the client’s room stay. Commission payment percentages vary from hotel to hotel, and travel agents can expect a bit of variance in their […]
Read More →Reading Time: 5 minutesFrom both a corporate and consumer standpoint, cross-border payments have integrated themselves into our daily life. Today’s companies do business around the world. Manufacturers source parts, materials, and labor abroad as often as they do domestically, and in some cases, large corporations outsource more than half of their business abroad. Global travel, both for business […]
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