Hotel Engine Stock

Denver-based company Hotel Engine is expanding its services in response to increased post-pandemic business travel. The company announced new services including FlexPro, a subscription service that allows companies to alter or cancel reservations up to noon on the day of check-in, and enhancements to its group booking service, Groups. The company has seen robust growth and connects its 40,000 member companies to over 700,000 partner hotels worldwide.

The majority of travel bookings are now made online, prompting hotels to list themselves on third-party travel websites to boost their global visibility. However, this approach involves commission costs. In response, the hotel tech space is evolving to optimise hotel websites and improve direct booking strategies. Despite this, smaller hotels often prefer to rely on third-party sites. The report also highlights differences in online booking behaviour among post-millennials, who are tech-savvy and form opinions based on an organisation's online presence and social media storytelling.