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Good morning from Skift. It’s Friday, January 10, and here’s what you need to know about the business of travel today.
TikTok said Thursday it’s launching its first e-commerce product exclusively for travel brands, writes Global Tourism and Experiences Reporter Jade Wilson.
Hannah Bennett, TikTok’s head of travel, said at the Skift Megatrends event in London that the social media giant is testing the product with a select number of brands. She added the product, which will be called Travel Ads or Catalogue Ads for Travel, aims to help brands find people on TikTik looking to book a trip at that moment.
Next, Hilton has had a lot of success in Asia recently, and the company is looking to take advantage of the travel boom on the continent, writes Asia Editor Peden Doma Bhutia.
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Hilton has reached 1,000 trading hotels in the Asia-Pacific region ahead of schedule. In addition, one in every four hotels under construction in Asia is a Hilton property. As for its growth plans, Bhutia notes Hilton’s strategy in the region hinges on regional relevance as it aims to ensure its offerings resonate with domestic travelers before expanding further.
Hilton is also leveraging popular Bollywood stars in India to build brand awareness while offering WhatsApp-based services to cater to local preferences. In addition, Alan Watts, Hilton’s president for Asia-Pacific, said franchising will be a cornerstone of Hilton’s expansion, adding the company wants to partner with companies with existing land banks.
Last up today, with hotel supply in India struggling to keep up with demand levels, room rates in the country are expected to surge, writes India Reporter Bulbul Dhawan.
Credit ratings firm ICRA revealed that India’s current supply pipeline is smaller than what it was after the global financial crisis in 2009. Meanwhile, the firm found demand in India grew 9-10% in the 2024 fiscal year and is also expected to register growth in the following two fiscal years.
In addition, 13 large Indian hospitality companies reported an over 200% increase in income in the 2024 fiscal year compared to pre-Covid levels. ICRA said that figure is projected to increase further in the 2025 and 2026 fiscal years.
