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Khaleej Times
2 days ago
- Business
- Khaleej Times
Dubai: A global hub for business and the impact on the short-term rental market
Dubai, a city synonymous with ambition, luxury, and relentless growth, has firmly cemented its position as a global hub for business, finance, and tourism. This strategic positioning, coupled with a proactive government vision, has fostered an environment that constantly attracts world-class conferences, exhibitions, and events. This booming conference scene, in turn, has a profound impact on Dubai's short-term rental market, driving demand, shaping trends, and creating lucrative opportunities for property owners and professional management companies alike. The city secured a record 437 bids for international business events in 2024, a 20 per cent year-on-year increase, with an aim to host 400 global economic events annually by 2025. These include world-renowned trade shows like Gitex and Arab Health, major cultural festivals, and sporting events, which collectively draw in millions of visitors annually. In 2024, Dubai welcomed 18.72 million international overnight visitors, a 9 per cent year-over-year increase that surpassed the previous record of 17.15 million in 2023. These attendees, a significant portion of whom are business travellers, delegates, and exhibitors, often require flexible, short-term accommodation that goes beyond the traditional hotel offering. The short-term rental market provides a diverse range of options from studio apartments to luxury villas, catering to varied budgets and preferences. The most immediate impact is the significant increase in demand for short-term rentals, especially during peak conference seasons. This leads to higher occupancy rates for holiday homes, outperforming traditional hotel stays in many prime locations. For instance, average occupancy rates for short-term rentals in Dubai can reach as high as 85-95 per cent per cent during busy periods, evidence of the strong demand driven by business tourism. The hotel sector's average occupancy rate in 2024 was 78.2 per cent, up from 77.4 per cent in 2023, with occupied room nights rising to 43.03 million. This heightened demand allows property owners to implement dynamic pricing strategies. During major conferences and events, nightly rates for short-term rentals can soar, leading to substantially higher rental yields compared to long-term leases. A typical short-term rental listing in Dubai was booked for 255 nights a year with a median occupancy rate of 70 per cent and an average daily rate of Dh620 in 2023. This lucrative potential has attracted many investors to acquire properties specifically for the short-term rental market, with a typical host income reaching Dh156,000 in 2023. While leisure tourists remain a significant segment, the conference scene brings in a distinct type of guest: the business traveler. These individuals often seek properties that offer more space, privacy, and amenities conducive to work, such as dedicated workspaces, high-speed internet, and fully equipped kitchens. This has led to a greater emphasis on furnishing and equipping properties to meet the needs of this discerning clientele. Proximity to major exhibition centres, business districts, and transportation hubs becomes a crucial factor for short-term rental properties catering to conference attendees. Areas like Downtown Dubai, Business Bay, Dubai Marina, and proximity to the Dubai World Trade Centre experience particularly high demand during business events, as convenience and ease of commute are key for delegates. Within this evolving landscape, several trends are emerging. While luxury properties have traditionally dominated Dubai's short-term rental scene, there's a growing recognition of the need for mid-market and budget-friendly options. Not all conference attendees or business travellers are looking for ultra-luxury, and a broader range of price points allows Dubai to cater to a wider audience, further bolstering its appeal as a conference destination. This segment offers attractive returns for investors due to consistent and predictable demand. The short-term rental market is also increasingly leveraging technology to enhance efficiency and guest experience. This includes AI-powered dynamic pricing algorithms, smart home solutions for seamless check-ins and energy management, and virtual reality tours for prospective guests. Property management platforms are becoming more sophisticated, offering owners real-time insights into their property's performance. In a competitive market, providing exceptional guest experiences is crucial. This goes beyond just a clean and well-maintained property; it includes personalised recommendations, responsive communication, and tailored amenities. Companies are focusing on creating a 'home away from home' atmosphere, often incorporating local touches and offering concierge-style services. The global rise of remote work has led to an increase in digital nomads seeking longer-term short-term rentals, i.e. monthly stays. Dubai's attractive visa options and high quality of life make it a popular choice, with Dubai maintaining its position as a top global destination for long-term remote workers. Dubai government bodies such as the Department of Economy and Tourism (DET), have been proactive in regulating the short-term rental market. Licensing requirements, quality standards, and tourist fees ensure a structured and secure environment for both hosts and guests. This regulatory framework fosters trust and contributes to the sustainable growth of the market. Within this evolving landscape, professional property management firms are essential in navigating the complexities and maximising the potential of the short-term rental market. Companies like Frank Porter, for instance, offer comprehensive services that span the entire lifecycle of a short-term rental property, from initial setup and interior styling to dynamic pricing, multi-platform marketing, and round-the-clock guest support. By leveraging technology and expertise, these businesses help property owners maximise their returns while ensuring a seamless and high-quality experience for guests, whether they are business travellers attending a conference or tourists exploring the city. In conclusion, Dubai's growing conference and events calendar is a key catalyst for the growth and evolution of its short-term rental market. The continuous influx of business travellers and delegates creates consistent, year-round demand for flexible accommodation, leading to higher occupancy rates and attractive rental yields. The impact of mega-events like Expo 2020 (which attracted over 24 million visitors) has also been significant, contributing to a surge in short-term rentals and increased property values and rental yields in key areas. As the city continues to expand its global reach and attract diverse visitors, the short-term rental sector is set for further innovation, with technology and professional management increasingly defining its trajectory. The writer is CEO and Founder of Frank Porter.
Travel Weekly
5 days ago
- Business
- Travel Weekly
Uniglobe Travel Partners
2024 sales: $244.7 million Previous ranking: 50 Employees: 80 full-time, 30 part-time 2603 Camino Ramon, Suite 200 San Ramon, CA 94583 Phone: (925) 838-4445 Website $244.7 million5080 full-time, 30 part-time2603 Camino Ramon, Suite 200San Ramon, CA 94583Phone: (925) 838-4445 Executives BOARD CHAIR: Andrew Henry BOARD TREASURER: Ray Watson BOARD SECRETARY: Mitchell Hicks PRESIDENT: Noah Downer COMPANY FACTS * Privately held. * Mitchell Hicks, Ray Watson and Uniglobe Travel USA are the three shareholders. * Specializing in small-to-midsize enterprise business travel and leisure clients; a host agency division. * Works with 550 independent contractors. * 60% of sales completed by hosted advisors. * Sales: 60% leisure, 40% business. * A member of Uniglobe Travel network and Virtuoso. DEVELOPMENTS * Restructured and consolidated three operating divisions, which included hiring a new president, realigning management responsibilities and reviewing and revising processes and policies. LOOKING AHEAD * Increasing touchpoints and depth of client reviews. * Expanding corporate sales activity. * Targeting strategic acquisitions. * Early 2025 has presented a mixed outlook. Several client sectors are growing, while others are hesitant because of macroeconomic and geopolitical issues.
Travel Weekly
5 days ago
- Business
- Travel Weekly
Internova
2024 sales: $6 billion Previous ranking: 11 Employees: 3,217 full-time, 65 part-time 1633 Broadway, 35th Floor New York, NY 10019 Phone: (212) 944-2121 Website $6 billion113,217 full-time, 65 part-time1633 Broadway, 35th FloorNew York, NY 10019Phone: (212) 944-2121 Executives CEO: J.D. O'Hara CFO: Robert Klug PRESIDENT, ALTOUR: Gabe Rizzi PRESIDENT, GLOBAL TRAVEL COLLECTION: Angie Licea PRESIDENT, NEXION TRAVEL GROUP: Jackie Friedman PRESIDENT, TRAVEL LEADERS NETWORK: John Lovell PRESIDENT, THE VACATION GROUP: Jacqueline Dobson COMPANY FACTS * Privately held. * Owned by private equity firm Certares Management. * Sells directly to consumers plus hosting, franchising, travel management, hotel wholesaling, tour operating, and meetings, incentives, conferencing and exhibitions. * Operates five primary divisions: Global Travel Collection (a luxury agency), Nexion Travel Group (a premium host agency), Travel Leaders Network (for agencies and advisors), Altour (for business travel) and The Vacation Group (direct-to-consumer brands). Additional boutique brands include Andrew Harper, Barrhead Travel Group, Bonotel Exclusive Travel, In the Know Experiences and Roadtrips. * Its network represents 114,000 nonemployee advisors globally when including Travel Leaders Network member advisors and International Network members, which produced $10 billion in sales. * Works with 7,900 independent contractors. * Sales: 59% leisure, 41% business. * A member of Travel Leaders Network and Virtuoso. DEVELOPMENTS * Reorganized to operate under three segments: agency services, advisor services and direct services. * Expanded partner offerings to include exclusive events such as Internova Plus, Internova Marketplace and the Internova Air Showcase, enabling its preferred partners to connect with top-producing advisors. * Launched a user-friendly booking tool for its advisors with simplified bookings for flight, hotel and car rentals through a "point-and-click" interface. * Introduced Altour Intelligence, an AI-powered suite that offers personalized booking, duty of care, program optimization, change management and predictive flight delay alerts. * Global Travel Collection partnered with Nicer to further integrate AI technology, enhancing advisor efficiency and client service. * Travel Leaders Network was named one of Newsweek's "Most Reliable Companies of 2025," recognized for its ease of doing business, exceptional value and strong reputation. * Refreshed Global Travel Collection's annual conference, Arrive (held May 19 to 22), to create high-end experiences that connect partners with top advisors and travel managers. LOOKING AHEAD * Enhancing its online booking tools for air, hotel and car rental and Cruise Complete for cruise.
Hospitality Net
5 days ago
- Business
- Hospitality Net
Understanding trade show impacts on hotels and hospitality
Occasions like large-scale conventions and trade shows aren't just about hotels; they drive powerful demand surges that ripple across restaurants and many other services. For hoteliers and service providers, this creates significant opportunities. Among these events, trade shows are powerful economic drivers. They attract thousands of business travelers and exhibitors from all over the globe. If you're looking to maximize revenue and stay competitive, understanding how these shows influence your hotel's demand and pricing is essential. In this blog post, we'll explore the wide-reaching effects of trade shows and offer our top tips for capitalizing on these dynamic markets. How trade shows impact the hospitality industry Trade shows spark a wave of activity and networking that significantly benefits the entire hospitality sector. Airlines see fuller flights, taxis and rideshares experience heightened demand, and local restaurants enjoy increased foot traffic. For hotel owners, trade shows are particularly impactful. They can drive occupancy to peak levels, especially when events fall outside traditional travel seasons. This influx of attendees, such as exhibitors, delegates, and organizers, creates a valuable window for hospitality businesses to boost revenue. By understanding and proactively planning for trade show demand, hoteliers can optimize pricing, staffing, and services, making these events a vital focus for maximizing off-peak profitability and long-term growth. Higher demand means increased room rates for hotels When a trade show comes to town, hotel demand will usually spike, especially near the event venue. As availability tightens, prices naturally rise. This classic supply-and-demand dynamic allows you to increase your hotel room rates, particularly if the event draws large numbers of out-of-town attendees. As a hotelier, this presents a clear opportunity to drive revenue, but only if you're ready to act strategically. To make the most of trade show periods, you should implement dynamic pricing strategies that reflect real-time demand and competitor behavior, something we expand on below. Proper staffing is also critical, as service quality must match increased guest expectations. Crucially, hotels should assess how a specific event will impact their property – those closest to the expo center or main venue typically see the highest demand, while those farther away may need to offer incentives or transport solutions. With the right preparation, trade shows can become powerful revenue-generating moments outside of a traditional high season. How 5 of the biggest trade shows impact the hospitality industry Trade shows draw thousands of professionals and generate major economic impact – and some have an outsized influence on local hotels. From pet products in Orlando to global travel expos in London and Berlin, here are five of the world's most influential trade shows and how they affect the hotel industry. 1. Global Pet Expo The Global Pet Expo positions itself as the premier event for the pet industry, presented by the American Pet Products Association (APPA) and the Pet Industry Distributors Association (PIDA). Held annually at the Orange County Convention Center in Orlando, Florida, the 2025 show took place from March 26th to 28th. It featured over 1,000 exhibitors across 3,500 booths, showcasing more than 3,000 new product launches. The expo attracted nearly 20,000 pet industry leaders from over 105 countries, including independent retailers, distributors, mass-market buyers and other qualified professionals. In 2024, the Global Pet Expo delivered over $45 million in local economic impact to the Orlando metropolitan area. While specific data on hotel pricing during the event isn't publicly available, such significant economic contributions strongly suggest a substantial increase in demand for local accommodation during the expo period. 2. New York International Auto Show The New York International Auto Show (NYIAS) is one of the most prestigious automotive events in North America. Held annually at the Jacob Javits Convention Center in Manhattan, the 2025 show marked its 125th anniversary from April 18th to 27th. Showcasing over 700 vehicles across a million square feet of exhibit space, it featured major automakers like Ford, GM and Toyota, and high-end brands such as Porsche and Lamborghini. NYIAS attracts more than 1 million attendees each year, including industry professionals, media and car enthusiasts. Approximately 319,000 new vehicle buyers attend annually, with over half reporting that the show influences their purchase decisions. Clearly, this massive influx of attendees significantly boosts demand for accommodation in Manhattan and beyond. This surge often leads to increased room rates, particularly for hotels in proximity to the Javits Center. Wise hoteliers in the New York City area can capitalize on this yearly demand by implementing dynamic pricing strategies and ensuring optimal staffing levels to enhance guest experiences during the event. 3. Las Vegas Science & Technology Festival The Las Vegas Science & Technology Festival is Nevada's largest educational event, celebrating STEM through nine days of free, community-driven programming. The 2025 festival ran from April 25th to May 3rd, culminating in the Giant Expo on May 3rd at the World Market Center. This hands-on event features robotics demonstrations, fossil exhibits, interactive science experiments and on-stage entertainment, attracting nearly 10,000 attendees annually. Exhibitors include local museums, research institutions, universities and tech organizations, offering engaging experiences for families and students. While the festival's family-oriented and local focus may not cause significant spikes in hotel prices, its timing during spring – a popular season for events in Las Vegas – can contribute to increased demand for accommodations. Hotels near the World Market Center may experience higher occupancy rates during this period, so local hoteliers should monitor event calendars and, as above, consider flexible pricing strategies to accommodate potential fluctuations in demand. 4. WTM London World Travel Market (WTM) London is one of the most influential events in the global travel and tourism industry. Held annually at ExCeL London, the 2024 show took place from November 5th to 7th, attracting over 46,000 travel and hospitality professionals from 184 countries. The hospitality conference featured more than 4,000 exhibitors, including tourism boards, hotels, airlines and technology providers. Notably, 82% of attendees were international visitors, with many extending their stay in London beyond the event dates. WTM London 2024 generated an estimated £200 million (€238 million) in economic impact through local spending on transportation, accommodation and leisure activities. While specific data on hotel pricing during the event is not publicly available, the significant influx of international attendees likely led to increased demand for accommodations, particularly near the ExCeL London venue. Hoteliers in the area often experience higher occupancy rates during WTM, presenting opportunities to implement dynamic pricing strategies and enhance revenue. 5. ITB Berlin Yes, it's another travel and hospitality trade show but we couldn't really omit ITB Berlin from this line-up. Often seen as the world's leading trade show in its sector, it's held annually at Messe Berlin in Germany. The 2025 edition, from March 4th to 6th, featured over 5,800 exhibitors from more than 170 countries, attracting approximately 100,000 attendees, including 1,300 senior buyers in the ITB Buyers Circle. The event showcases a wide range of sectors, including tourism boards, airlines, hotels, travel technology providers and cruise companies. During ITB Berlin 2025, hotels in the city experienced significant occupancy increases, with rates reaching 92.1% over the three-day event – a 9.1 percentage point rise compared to the previous year. The first day saw occupancy rates as high as 98%. Additionally, average daily rates (ADR) surged, often 20–60% higher than regular March pricing, with some hotels near Messe Berlin charging two to four times their usual rates. For hoteliers, ITB Berlin represents a prime opportunity to implement dynamic pricing strategies and optimize staffing to accommodate the influx of international guests, thereby maximizing revenue during this high-demand period. How to attract trade show attendees and drive revenue To maximize revenue from trade show attendees, you should adopt strategic approaches at your hotel. Key tactics include implementing dynamic pricing to stay competitive, offering value-added amenities that enhance guest experience and investing in targeted marketing campaigns to boost visibility and drive direct bookings well ahead of event dates. Let's examine each of these initiatives in turn. Implement dynamic pricing Dynamic pricing is a strategy that promotes adjusting room rates in real time based on market demand, competitor pricing, local events and booking patterns. For trade show periods – when demand often spikes – this approach helps hotels optimize revenue while staying competitively priced. Rather than relying on static rates, dynamic pricing allows you to respond to fluctuations as they happen, capturing higher revenue during peak times and remaining attractive during lulls. Dynamic pricing software makes implementation seamless, analyzing real-time data to recommend or automate pricing changes, reducing manual effort and ensuring timely rate adjustments. These tools factor in market demand as a result of events, forecasted occupancy and competitor pricing so you can maximize occupancy and ADR with minimal oversight. Offer value adds Offering value-added amenities and special offers is a powerful way to attract trade show attendees and increase hotel revenue. When travelers are deciding where to stay during busy event periods, thoughtful perks can make your property stand out from the competition. These extras not only enhance guest satisfaction but encourage direct bookings and upsells. For trade show attendees, convenience and comfort are key. Popular value adds include late check-in and check-out options to accommodate irregular schedules, shuttle services to and from the expo or trade show venues and complimentary Wi-Fi to support business needs. Suite upgrades or bundled packages such as breakfast included or discounted dining also appeal to attendees looking for a more comfortable stay. Tailoring these offers to the specific event's schedule and audience helps you build loyalty and capture more ancillary revenue, making value adds a win-win for both you and your guests. Invest in targeted marketing Targeted marketing campaigns are essential for boosting a hotel's visibility among trade show attendees and driving direct bookings. By focusing your marketing strategies on the right audience – such as exhibitors, attendees and event organizers – you can maximize your return on investment and avoid wasted spend on broad, unfocused advertising. To start, you should identify your target audience based on the specific trade show's attendee profile and geographic reach. Campaigns ideally begin three to six months before the event, giving travelers ample time to plan and book, while digital channels like social media ads, search engine marketing and email campaigns tailored to event registrants or local business groups often yield the best results. Partnerships with trade show organizers for official hotel listings or promotions can also increase exposure. And personalizing messages with event-specific offers and emphasizing proximity to the venue helps capture attention. Well-executed targeted marketing not only boosts bookings but also builds lasting brand awareness in key business markets and emerging markets. Find out how competitive market data helps hotels stay competitive Data-driven insights are crucial for hotels preparing to capitalize on event-driven tourism. Understanding market and industry trends, competitor pricing and demand patterns enables you to make informed decisions and optimize revenue. Lighthouse is a powerful tool that provides real-time competitive market data, helping hotels anticipate demand spikes during major events and keep on top of the latest trends. By leveraging Lighthouse and its latest technology, you can implement smarter pricing strategies, tailor offers and boost bookings, ensuring you stay ahead in a competitive market when major events bring a surge of visitors. About Lighthouse Lighthouse is the leading commercial platform for the travel & hospitality industry. We transform complexity into confidence by providing actionable market insights, business intelligence, and pricing tools that maximize revenue growth. We continually innovate to deliver the best platform for hospitality professionals to price more effectively, measure performance more efficiently, and understand the market in new ways. Trusted by over 70,000 hotels in 185 countries, Lighthouse is the only solution that provides real-time hotel and short-term rental data in a single platform. We strive to deliver the best possible experience with unmatched customer service. We consider our clients as true partners—their success is our success. For more information about Lighthouse, please visit: View source
Skift
20-06-2025
- Business
- Skift
Ramp Raises $200 Million for Expense and Biz Travel Management: Startup Funding Roundup
Startups for business travel management and flying taxis are still raising a lot of money. Travel Startup Funding This Week Each week we round up jd@ if you have funding news. Each week we round up travel startups that have recently received or announced funding . Please email Travel Tech Reporter Justin Dawes atif you have funding news. There's a lot of money going into tech platforms to manage business travel and expenses. The most recent is Ramp, which raised $200 million this week. It comes months after TravelPerk raised $200 million, with multiple other companies raising smaller rounds. Also this week: Navan, a corporate travel agency, has taken a step toward becoming a public company. And flying taxi companies — most recently Archer Aviation — have been raising billions of dollars in their race to operate commercially. Between Ramp, Archer Aviation, and a small startup, travel companies raised over $1 billion in the past week. Ramp: $200 Million Ramp, an expense management platform with travel booking capabilities, has raised $200 million in series E funding. The latest funding values the company at $16 billion, a jump from $13 billion since its previous fundraise in March and $7.65 billion since its series D extension in 2024. Founders Fund led the round for the fifth time. Other investors included Thrive Capital, D1 Capital Partners, General Catalyst, GIC, ICONIQ Growth, Khosla Ventures, Sands Capital, 8VC, Lux Capital, Stripes, 137 Ventures, Avenir Growth, and Definition Capital. Ramp said it has now raised a total of $1.4 billion in equity financing. The New York City-based company started with a focus on corporate cards and helping clients manage receipts, but it's been building out tech since 2022 to help client companies book and manage travel. The company's Ramp Travel product allows clients' employees to book travel with inventory from Priceline. The platform also has integrations with TravelPerk, Lyft and Uber for Business. Ramp automatically collects receipts from any bookings with partners, removing the need to submit expenses. Client companies can set travel policies and manage approvals through the platform. Ramp last month released a feature that automatically rebooks a hotel if the price drops. It's one of 270 features that the company has released this year, which the company said were all developed with the help of AI. Ramp said it has more than 40,000 companies, including CBRE, Shopify, Anduril, Notion, Cursor, Vercel, and Barry's. The company said its platform handles $80 billion in purchases annually. Ramp said the funding will go toward improving the AI-powered product and expanding business, particularly in the U.S. Archer Aviation: $850 Million Archer Aviation, which is developing a flying taxi for urban use, has raised $850 million. The funding comes from a direct offering of 85 million shares of stock for $10 per share. The company had previously raised nearly $2 billion, including $430 million last year. California-based Archer is developing an electric vertical takeoff and landing (eVTOL) aircraft called Midnight. It is designed to hold a pilot with four passengers and luggage for urban trips of 20-50 miles at speeds of up to 150 miles per hour. It is powered by six independent battery packs, each supporting a pair of electric engines. The company is also developing aircraft for the U.S. military. Archer said in May that it plans to provide air taxi services for the 2028 Los Angeles Olympics and for Team USA. The company last year unveiled plans for an air taxi network in Los Angeles. The network includes vertiports (eVTOL airports) at Los Angeles International Airport, University of Southern California, Orange County, Santa Monica, Hollywood Burbank, Long Beach, and the Van Nuys neighborhood. The company is also planning to establish a vertiport near the SoFi Stadium, home of the Los Angeles football teams Rams and Chargers. The plan is to begin LA network operations in 2026. This is in addition to plans for a network at California airports where Southwest Airlines operates, along with five vertiports in the Bay Area. Travlounge: $2.9 Million Travlounge, which designs roadside rest stops with sleeping pods, has raised $2.9 million (250 million Indian rupees). The funding comes from Gokulam Group. India-based Travlounge says its facilities include tech-enabled sleeping pods, washrooms, cafes, travel-focused markets, and charging stations for electric vehicles. The company has also released an app for trip planning. The funding will go toward expanding beyond its first two locations in India.
