Latest news with #corporatetravel
Yahoo
6 hours ago
- Business
- Yahoo
B&B HOTELS Announces Broad Corporate Travel Expansion with Cvent
Rapidly growing value hotel chain adopts Cvent's business transient solutions across key European markets, enhancing visibility and access for corporate buyers and travel managers LONDON, July 22, 2025--(BUSINESS WIRE)--B&B HOTELS, one of Europe's fastest-growing hotel groups, has significantly expanded its collaboration with Cvent, a market-leading meetings, events, and hospitality technology provider. Building on the successful implementation of Cvent Business Transient (BT) in France, B&B HOTELS will now deploy the solution across its entire European portfolio, streamlining corporate travel sourcing in major markets including Germany, the UK, Spain, Italy, France, and the Benelux region. The expanded agreement positions Cvent's BT platform as the central hub for managing B&B HOTELS' corporate travel requests for proposals (RFPs), reinforcing the hotel group's commitment to supporting business travellers with flexible, cost-effective accommodation options across its robust 900-plus hotel portfolio. The latest Cvent Corporate Travel Manager Report highlights ongoing cost concerns across the segment, with most companies implementing various cost management strategies to minimize budget impact while prioritizing meetings that drive clear business outcomes. This strategic B&B HOTELS announcement brings substantial benefits to corporate travel buyers, TMCs, and travel consortia who often struggle to access economical hotel inventory at scale. With B&B HOTELS now fully integrated into the Cvent BT ecosystem, organizations can easily discover and invite its properties to participate in corporate RFPs—accelerating the sourcing process, increasing booking opportunities, and empowering buyers to secure competitive rates across a wider network of value-driven accommodations. "This global agreement with Cvent Transient is a pivotal step in our ambition to become the go-to value hotel brand for businesses of all sizes across Europe", said David Zimmer, Head of Loyalty and B2B at B&B HOTELS. "For corporate clients, this means easier access to our expanding network of modern, comfortable, and conveniently located hotels - now over 1,000, including contracted openings - all while ensuring they receive exceptional value and a productive trip. By leveraging Cvent's extensive RFP Publisher platform, we're not only making it easier for clients to partner with B&B HOTELS but also clearly demonstrating our commitment to meeting the evolving needs of the corporate travel sector. We're excited to make it simpler than ever for businesses to discover the smart choice and warm welcome that B&B HOTELS offer, ensuring their travellers enjoy a consistently high-quality and affordable stay." "We are thrilled to support B&B HOTELS in expanding and elevating their business transient program across Europe," said Graham Pope, Vice President of International Sales at Cvent. "Their commitment to corporate travel aligns perfectly with our mission to simplify and enhance the sourcing process for buyers and suppliers alike. Given today's budget-conscious environment, this announcement is a game-changer not only for B&B HOTELS, but for the broader industry as more value-focused hotel brands see the potential of our platform and vast global network to increase their share of corporate travel business." About B&B HOTELS B&B HOTELS is one of the largest and fastest-growing hotel groups in Europe. Founded in Brest in 1990, the Group has grown to a network of more than 900 hotels in 18 countries across Europe, the UK, USA and Brazil. Positioned in the value-for-money segment, B&B HOTELS is committed to offering its customers comfort and quality at the best possible price. B&B HOTELS continues this strong, dynamic growth in 2025 with the ambition to become the European leader in a new generation of value hotels, while continuing to guarantee the essentials and meet our customers' expectations for their everyday short stays: A comfortable bed. A generous breakfast. A well-thought-out room. Fast, reliable Wi-Fi. A sincere welcome. All at a fair price. B&B HOTELS is also actively committed to Corporate Social Responsibility. To meet consumer expectations and give credibility and transparency to its actions aimed at having a positive social and environmental impact, B&B HOTELS is now certified in sustainability by the independent organization SOCOTEC. Goldman Sachs has been the main shareholder of B&B HOTELS ( since 2019. About Cvent Cvent is a leading meetings, events, and hospitality technology provider with over 5,000 employees and more than 24,000 customers worldwide as of December 31, 2024. Founded in 1999, the company delivers a comprehensive event marketing and management platform and offers a global marketplace where event professionals collaborate with venues to create engaging, impactful experiences. Hotels and venues use Cvent's supplier and venue solutions to win more group and corporate travel business through Cvent's sourcing platforms. Cvent solutions optimize the event management value chain and have enabled clients around the world to manage millions of meetings and events. For more information, please visit View source version on Contacts For media inquiries, please contact: Sophie Villeneuve, for B&B Sharon Coleshill, for CventEmail: Mobile: +44 7810 508 990 Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
4 days ago
- Business
- Yahoo
United's Cost Discipline Shines as UBS Boosts Estimates
Thomas Wadewitz at UBS saw United Airlines (NASDAQ:UAL) cautious EPS guide as a green flag for Newark's recovery and rising corporate travel, so he boosted his price target to $114 and tweaked EPS forecasts. He now pegs Q4 EPS at $2.90 and FY 26 at $14.25, reflecting tight cost discipline. United held unit costs excluding fuel to just 2.2% growth even after front?loading flight attendant signing bonuses. Warning! GuruFocus has detected 3 Warning Sign with UAL. That efficiency stemmed from strong network operations as capacity climbs five to six percent. United expects unit costs ex fuel to stay near 2.5% in the second half as demand picks up. All eyes are on next week's results from Delta, American, Southwest and JetBlue. How United balances improving demand with cost control will decide if UBS's bullish outlook holds. This article first appeared on GuruFocus.
Gulf Business
4 days ago
- Business
- Gulf Business
Flying Etihad? Know about these latest developments
Image credit: Etihad Airways Etihad Airways has unveiled a significant digital upgrade to its corporate travel offering with the launch of the Etihad for Business portal. This milestone in the airline's digital transformation coincides with the launch of its inaugural flight to Al Alamein, Egypt, reinforcing Etihad's commitment to both corporate and leisure travelers. Read- The newly launched portal enables corporate clients to manage their entire travel programme through a single, user-friendly digital interface, a Businesses can now monitor travel spend, access contract details, and redeem credits for travel-related benefits in real time. 'We've created a platform that puts control directly in our corporate partners' hands,' said Javier Alija, Vice President of Global Sales & Distribution at Etihad Airways. 'Companies can now manage everything from performance tracking to benefit redemptions through one simple interface.' The Etihad for Business programme rewards companies with credits based on travel volume. These credits can be redeemed for a variety of perks including seat upgrades, lounge access, priority check-in, and ground transportation services—designed to enhance the travel experience for corporate employees. Key features offer flexibility and insights The platform is built to streamline business travel operations and reduce administrative burdens. Among its key features: Real-time performance tracking Transparent tiering requirements Automated reporting tools Contract management capabilities Self-service benefit redemptions Dedicated online support and account services Companies of all sizes can access different levels of service based on their travel needs, while advanced analytics and expanded features are expected in future updates. 'Business travel management should be straightforward, not complicated,' Alija added. 'Our portal delivers exactly that—a user-friendly experience that helps companies maximise the value of their travel programmes.' Etihad adds Al Alamein as seasonal summer destination In parallel with its digital rollout, 'The launch of Al Alamein reflects our strategic focus on expanding Etihad's network to serve high-demand seasonal routes,' said Antonoaldo Neves, Chief Executive Officer of Etihad Airways. 'As leisure travel continues to grow, destinations like Al Alamein offer tremendous appeal for our guests seeking premium summer experiences.' The dual developments showcase Etihad's evolving strategy—investing in both digital transformation and network growth to serve a broader customer base. With its enhanced business travel tools and growing list of leisure destinations, Etihad continues to position itself as a forward-thinking global airline.
CNA
5 days ago
- Business
- CNA
Wells Fargo suspends China travel after banker hit with exit ban
SAN FRANCISCO: Wells Fargo has suspended all employee travel to China after one of its senior bankers was barred from leaving the country, a source familiar with the matter told Reuters on Thursday (July 17), raising renewed concerns over staff safety and freedom of movement. The bank's managing director Chenyue Mao, a US citizen, was subjected to an exit ban shortly after arriving in China in recent weeks, according to the Wall Street Journal. Aerial footage showed Mao on the island, speaking with park rangers while television cameras followed. "We are closely tracking this situation and working through the appropriate channels so our employee can return to the United States as soon as possible," Wells Fargo said in an emailed statement. A senior Trump administration official declined to confirm Mao's travel status, citing privacy concerns, but said the case highlights longstanding issues with China's use of exit bans on foreign nationals. MULTINATIONALS ON EDGE The exit ban has alarmed multinational companies already wary of doing business in China amid growing geopolitical tension. The episode has also prompted concerns about employee safety and the future of corporate travel to the world's second-largest economy. Mao was born in Shanghai and is based in Atlanta, according to a June 2025 release from FCI, where she serves as chairwoman. FCI, formerly Factors Chain International, is a global industry network focused on the financing of trade receivables. A source at a large bank said that even before this case, staff were advised to carry additional documentation when travelling overseas, due to heightened geopolitical risks. "This kind of event is not a step in the right direction," said Mark Headley, CEO of San Francisco-based asset manager Matthews Asia, which manages US$6.5 billion and operates five China-focused funds. "Should I be worried about my employees in China or travelling there? It certainly has leaped to the front of my mind yet again," he said. "We've seen a long pattern since I first travelled to China in 1991, of the country being very tricky to work in, to seeming totally normal, to being tricky again." Although Matthews Asia has not suspended travel to China, Headley said he is monitoring the situation closely. "Right now I don't feel that the Chinese authorities will go after foreign tourists or senior executives of companies that are among China's biggest trading partners and crucial to its economic growth," he added. A DECADE AT WELLS FARGO Mao has worked at Wells Fargo for over a decade and currently serves as a managing director, overseeing its international factoring business and advising multinational clients on cross-border working capital strategies. Factoring is a financing model in which companies sell their receivables to third parties, such as banks, in exchange for immediate payment. The third party collects the full amount later, profiting from the discounted purchase. Before being elected chair of FCI in June, Mao served as vice chair. The organisation did not immediately respond to a Reuters request for comment. Wells Fargo CEO Charlie Scharf is a member of the Business Roundtable, a group of top US executives addressed by President Donald Trump earlier this year. ESCALATING USE OF EXIT BANS Beijing has increasingly deployed exit bans in civil and criminal cases, often without warning. Individuals typically become aware of the restriction only when attempting to leave China. "The Chinese government has, for many years, imposed exit bans on US citizens and other foreign nationals in China, often without a clear and transparent judicial process for resolution," the senior Trump administration official said. China's foreign ministry has not commented, and Mao did not respond to Reuters inquiries. In September 2023, authorities barred a senior banker at Nomura from leaving China, further heightening concerns over selective enforcement. In response, several companies have either postponed trips to China or adopted safety protocols, such as group travel. Human-rights groups argue that China is increasingly using exit bans to pressure individuals under investigation or compel cooperation in legal matters. Headley recalled a similar incident in 2003 involving a Chinese-born colleague who had become a US citizen. Scheduled to fly from Shanghai to Hong Kong, the colleague was stopped by Chinese authorities and escorted away. He later returned via a detour through Guangzhou.
Reuters
5 days ago
- Business
- Reuters
Wells Fargo suspends China travel after employee exit ban, source says
July 17 (Reuters) - Wells Fargo (WFC.N), opens new tab has suspended all travel to China after a banker was blocked from leaving the country, a person familiar with the matter told Reuters on Thursday. The U.S. banking giant's Chenyue Mao was subjected to an exit ban after she entered China in recent weeks, the Wall Street Journal reported, citing people familiar with the matter. "We are closely tracking this situation and working through the appropriate channels so our employee can return to the United States as soon as possible," Wells Fargo said in a statement emailed to Reuters. The ban could worsen concerns among multinational companies about the risks of doing business in China, particularly around employee safety and freedom of movement. The incident could also chill corporate travel to the country and complicate relations between the world's two biggest economies. Broader U.S.-China relations remain tense, shaped by deepening strategic, economic, and geopolitical rivalries. Mao was born in Shanghai and is based in Atlanta, according to a June 2025 release from FCI, where she serves as chairwoman. FCI, formerly named Factors Chain International, is a global network of companies that do business in the factoring and financing of trade receivables. Before her election as FCI chair in June, Mao served as vice chair of the body. The industry body did not immediately respond to a Reuters request for comment on the matter. Mao is a U.S. citizen, the source said. She has been a banker at Wells Fargo for over a decade, according to her LinkedIn profile. She currently serves as a managing director at the lender and spearheads its international factoring business, as well as advising multinational clients on cross-border working-capital strategies. Factoring is a financing method where companies sell their receivables to third parties, such as banks, in exchange for immediate cash. The third party, known as the factor, profits by purchasing the receivables at a discount and collecting the full amount later. The Wall Street Journal reported that it could not be determined precisely when Mao entered China, or what prompted the travel restriction. She has worked and interacted with Chinese companies and industry groups on trade financing and international factoring matters, the Journal reported, adding that she also sometimes traveled to China for business. Beijing has increasingly used exit bans on both Chinese and foreign nationals, often in connection with civil disputes, regulatory investigations or criminal probes. Many affected individuals are unaware of the restrictions until they attempt to leave the country. Mao did not immediately respond to a Reuters request for comment on LinkedIn. The White House and China's foreign ministry did not immediately respond to requests for comment. In September 2023, authorities in China ordered a senior Nomura banker overseeing the firm's investment banking operations there not to leave the mainland. Some companies have canceled or delayed trips to China in recent years, while others have introduced safeguards such as advising staff to enter the country in groups rather than alone. Human-rights groups say, opens new tab China is using exit bans more frequently, often targeting individuals under investigation or those asked to cooperate with government inquiries.
