Breaking News Bar

Business News and Information

The Travel Market Continues to Expand

NEW YORK, August 1, 2017 /PRNewswire/ --

According to research published by Deloitte, the US leisure travel market is projected to grow about 6% in 2017, which will push the market closer to $381 billion by the end of the year. The research indicates that economic fundamentals for consumer spending continues to be solid this year. Factors such as a stronger labor market and elevated consumer confidence contribute to the growth of the market. Technology also plays a major part in the tourism industry. Strength in the lodging sector will continue to benefit online travel agencies (OTAs), as travelers use them to sort through options and find deals in a very fragmented marketplace. Flitways Technology Inc. (OTC: FTWS), Tuniu Corp (NASDAQ: TOUR), Airborne Wireless Network (OTC: ABWN), Yatra Online, Inc. (NASDAQ: YTRA), Ominto, Inc. (NASDAQ: OMNT)

Keeping the focus on technology, Deloitte claims in their research that few industries have felt the impact of enabling technology like ground transportation. "Within this segment, rising technology stars are challenging established industry incumbents for a dominant position in the marketplace. 2017 will be a pivotal year where ground transportation players have something to prove. Late in 2016, ridesharing receipts exceeded traditional ground transportation for the first time ever among business travelers. While this might lead many to believe that ridesharing is now the standard, the space remains open to competition. The ridesharing economic model is a complex balance that connects a healthy supply of non-contract, transient labor looking for the highest wage with demand from consumers looking for the lowest fare," the report points out.

FlitWays Technology Inc. (OTC: FTWS), a Los Angeles-based ground travel technology company, just announced earlier today, a new distribution partnership with HotelsByDay, the premier provider of day-stay hotel spaces that was recently featured on 'Shark Tank'. This will allow corporate day-stay travelers all over the United States to schedule a preferred vehicle that will transport the traveler to and from the hotel space. They also announced a partnership with Roomstorm, the comprehensive re-accommodation solution, a platform for airlines and hotels to solve for overbooked guests, travelers who missed flight connections, or planeload passengers from cancelled flights.

FlitWays' Director of Growth, Zacky Hamraz, commented, "FlitWays strives to make reliable and affordable ground transportation available for business travelers. We are seeing real traction as we have extended our service as a true seamless door-to-door travel solution. These partnerships give clients the flexibility to integrate and easily expense their ground transportation needs."

Founder and CEO of HotelsByDay, Yannis Moati, commented, "As a travel agent and tour operator for 15 years, I personally faced the problem of feeling the pain of travel combined with rigid check-in and check-outs for my clients and for myself. I wanted to use modern tech tools to solve this problem, and turn hospitality hospitable again. We turned to FlitWays as we are constantly seeking to ease the pain of travel. After careful consideration, it was obvious to us that they know how to handle smooth car transfers for our industry."

FlitWays plans to expand distribution partnerships with other travel industry organizations to make reliable and affordable ground transportation available to corporate and enterprise customers worldwide. This is part of an on-going expansion plan to increase visibility to an enormous market of potential clients.

Tuniu Corp (NASDAQ: TOUR) is a leading online leisure travel company in China that offers a large selection of packaged tours, including organized and self-guided tours, as well as travel-related services for leisure travelers through its website tuniu.com and mobile platform. Tuniu has over 1,700,000 stock keeping units (SKUs) of packaged tours, covering over 160 countries worldwide and all the popular tourist attractions in China. Tuniu provides one-stop leisure travel solutions and a compelling customer experience through its online platform and offline service network. On May 26, 2017, the company announced its unaudited financial results for the first quarter ended March 31, 2017. Net revenues in the first quarter of 2017 increased by 60.4% year-over-year, compared with Non-GAAP net revenues, to RMB456.0 million (US$66.3 million).

Airborne Wireless Network (OTCQB: ABWN) intends to create a high-speed broadband airborne wireless network by linking commercial aircraft in flight. On Nov. 28, 2016, the company announced it has received an FAA Project Number for its Supplemental Type Certificate (STC) application to install a Broadband Transceiver System on Boeing 757-200 aircraft. The project number is ST16664LA-T and has been issued to the Company by the Federal Aviation Administration (FAA). The Company considers receiving this project number as a major milestone, as it is the first STC application for the Company's contemplated broadband wireless network, trademarked as 'Infinitus Super Highway'.  

Yatra Online, Inc. (NASDAQ: YTRA) is a one-stop-shop for all travel-related services. The company provides information, pricing, availability, and booking facilities for domestic and international air travel, domestic and international hotel bookings, holiday packages, buses, trains, in-city activities, inter-city and point-to-point cabs. Recently, the company announced that it has entered into a definitive agreement, through its subsidiary, Yatra Online Private Limited, under which it will acquire Air Travel Bureau Ltd. ("ATB"), which is India's largest independent corporate travel services provider with Gross Bookings of INR 15 Billion generated through a diverse client base of over 400 large and medium sized businesses across India.

Ominto, Inc. (NASDAQ: OMNT) is a global e-commerce leader and pioneer of online cash back shopping, delivering value-based shopping and travel deals through its primary shopping platform and affiliated partner program websites. The Ominto.com platform features thousands of brand name stores and industry-leading travel companies from around the world, providing cash back savings to consumers in more than 120 countries. On June 9, 2017, the company announced that it has launched a new page on its DubLi.com website, targeted at customers who enjoy shopping for luxury brands. In April, the new VIP Lounge launched, providing members with multiple ways to save on hotel rooms, travel, flights, local shopping, dining services, entertainment and leisure activities - all from one convenient location. 

Please Sign Up Now at http://www.FinancialBuzz.com to Receive Alerts on Trending Financial News from all these companies. 'The Latest Buzz in Financial News'

Subscribe Now! Watch us report from NYSE https://www.youtube.com/FinancialBuzzMedia

Follow us on Twitter for real time Financial News Updates: https://twitter.com/financialbuzz

Follow and talk to us on Instagram: https://www.instagram.com/financialbuzz

Facebook Like us to receive live feeds: https://www.facebook.com/Financialbuzz/

About FinancialBuzz.com  

FinancialBuzz.com, a leading financial news informational web portal designed to provide the latest trends in Market News, Investing News, Personal Finance, Politics, Entertainment, in-depth broadcasts on Stock News, Market Analysis and Company Interviews. A pioneer in the financially driven digital space, video production and integration of social media, FinancialBuzz.com creates 100% unique original content. FinancialBuzz.com also provides financial news PR dissemination, branding, marketing and advertising for third parties for corporate news and original content through our unique media platform that includes Newswire Delivery, Digital Advertising, Social Media Relations, Video Production, Broadcasting, and Financial Publications.

Please Note: FinancialBuzz.com is not a financial advisory or advisor, investment advisor or broker-dealer and do not undertake any activities that would require such registration. The information provided on http://www.FinancialBuzz.com (the "Site") is either original financial news or paid advertisements provided [exclusively] by our affiliates (sponsored content), FinancialBuzz.com, a financial news media and marketing firm enters into media buys or service agreements with the companies which are the subject to the articles posted on the Site or other editorials for advertising such companies. Financialbuzz.com has not been compensated directly by any of the companies mentioned here in this editorial. We are not an independent news media provider and therefore do not represent or warrant that the information posted on the Site is accurate, unbiased or complete. FinancialBuzz.com receives fees for producing and presenting high quality and sophisticated content on FinancialBuzz.com along with other financial news PR media services. FinancialBuzz.com does not offer any personal opinions or bias commentary as we purely incorporate public market information along with financial and corporate news. FinancialBuzz.com only aggregates or regurgitates financial or corporate news through our unique financial newswire and media platform. For this release, FinancialBuzz.com has been compensated three thousand dollars for financial news dissemination and pr services by a third party non affiliate for FlitWays Technology Inc. Our fees may be either a flat cash sum or negotiated number of securities of the companies featured on this editorial or site, or a combination thereof. The securities are commonly paid in segments, of which a portion is received upon engagement and the balance is paid on or near the conclusion of the engagement. FinancialBuzz.com will always disclose any compensation in securities or cash payments for financial news PR advertising. FinancialBuzz.com does not undertake to update any of the information on the editorial or Site or continue to post information about any companies the information contained herein is not intended to be used as the basis for investment decisions and should not be considered as investment advice or a recommendation. The information contained herein is not an offer or solicitation to buy, hold or sell any security. FinancialBuzz.com, members and affiliates are not responsible for any gains or losses that result from the opinions expressed on this editorial or Site, company profiles, quotations or in other materials or presentations that it publishes electronically or in print. Investors accept full responsibility for any and all of their investment decisions based on their own independent research and evaluation of their own investment goals, risk tolerance, and financial condition. FinancialBuzz.com. By accessing this editorial and website and any pages thereof, you agree to be bound by the Terms of Use and Privacy Policy, as may be amended from time to time. None of the content issued by FinancialBuzz.com constitutes a recommendation for any investor to purchase, hold or sell any particular security, pursue a particular investment strategy or that any security is suitable for any investor. This publication is provided by FinancialBuzz.com. Each investor is solely responsible for determining whether a particular security or investment strategy is suitable based on their objectives, other securities holdings, financial situation needs, and tax status. You agree to consult with your investment advisor, tax and legal consultant before making any investment decisions. We make no representations as to the completeness, accuracy or timeless of the material provided. All materials are subject to change without notice. Information is obtained from sources believed to be reliable, but its accuracy and completeness are not guaranteed. For our full disclaimer, disclosure and Terms of Use, please visit: http://www.financialbuzz.com .

For further information:
info@financialbuzz.com
+1-877-601-1879

URL: http://www.FinancialBuzz.com

SOURCE FinancialBuzz.com

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
 
bottom clear