Online travel update: Dissatisfaction with Expedia executives, and Apple joins Fintech Space | Foster Garvey PC
Like previous weeks’ updates, this week’s update contains stories about the growing phenomenon of fintech and its effect on the travel industry. New.
Dissatisfaction with Expedia Directors
(“Do Travel Agents Matter in Online Travel? Expedia Thinks So,” June 22, 2022 via Shift (subscription may be required)
Shift recently presented an interesting article that described the shareholders’ dissatisfaction with some of the online travel giant’s board members. The dissatisfaction (expressed through withheld votes in connection with Expedia’s recent annual shareholders’ meeting) was focused on board members Chelsea Clinton, Craig Jacobs, Dara Khosrowshahi and Beverly Anderson. Although there is no information describing the reasons for the withheld votes, Skift speculates that it may be related to shareholder concerns with management compensation, depressed share price or even the political views of the targeted board members.
Apple enters Fintech Space
(“What Apple’s BNPL Offer Means for Travel,” June 22, 2022 via Phocus Wire)
For some time now, we have been presenting stories about the emergence of fintech products, especially in the tourism industry. Recent stories have mentioned the suppliers Hopper, Mastercard, Visa, Affirm and Uplift. Now comes Apple. Earlier this month, Apple unveiled its now-pay-later Apple Pay Later offer. Users of the offer will be able to pay for their Apple Pay purchases over four equal installments, each installment to be paid every two weeks. Mastercard will process the payments. Sellers who already accept Apple Pay will be able to sign up for the new program when it launches this fall. While Apple’s offerings may not offer the many payment plans that competitors offer, Apple’s entry into the fintech world will surely make these competitors nervous. It will be interesting to see if the proliferation of these trading agnostic fintech offerings undermines the pressure of certain platforms to use their own proprietary payment platforms.
Other news:
Chelsea Clinton and other Expedia executives are provoking shareholder controversy
June 24, 2022 via Change (subscription may be required)
Whether it’s management compensation or the company’s stock development, there is clear unrest among Expedia Group shareholders. Expedia Group board members Chelsea Clinton and Craig Jacobson withdrew more votes than votes in their favor when they were re-elected as board members.
Marriott’s CEO says that Hotel Group is building more digital tools for guests
June 23, 2022 via Change (subscription may be required)
In a comprehensive interview, Anthony Capuano said that Marriott is testing adding buttons to its mobile app that allow guests to select their room assignments electronically or provide tips to employees with online payments. The improvements could not come fast enough for many travelers.
WebBeds’ sun on rate parity, credit and distribution shifts
June 22, 2022 via Phocus Wire
Just as hotel partners had to swing domestically during the pandemic, so did WebBeds in distributing resources for domestic content, closing the Taiwan office and expanding the domestic distribution network that works with local travel agencies.
Hopper is building its ‘Super App’ origin story now
June 19, 2022 via Travel Weekly
The shopping app Hopper has risen from relative obscurity to prominent place in the last two years: In 2021, its 15 million downloads followed only Uber, Google Maps and Lift in the US travel market, according to Apptopia.
