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Travel Industry Takes Crucial First Step Toward Combating Climate Change

More than 300 travel companies, tourism boards and countries have signed the Glasgow Declaration on Climate Action in Tourism, the first step for a shared road map to cut carbon emissions.

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By Ceylan Yeginsu

The travel industry has reached a turning point.

As thousands of scientists, government officials and business leaders met in Glasgow over the past two weeks for the pivotal United Nations climate conference , hundreds of members of the trillion-dollar tourism industry came together and made the first commitment toward a shared road map to cut carbon emissions in half by 2030 and reach “net zero” by 2050.

More than 300 global travel stakeholders, including tour operators, tourism boards and hotel chains, have signed the Glasgow Declaration on Climate Action in Tourism, requiring them to submit a concrete and transparent plan within 12 months. While the details have yet to be put forward, the companies and countries that signed on, from Germany railway company Deutsche Bahn AG to the country of Panama, will be expected to disclose their carbon emissions and offer clear strategies for how to reduce them. The process is being spearheaded by the U.N. World Tourism Organization and the World Travel & Tourism Council, two industry bodies that have previously sparred on climate matters.

“This is undoubtedly the biggest climate commitment our industry has come together for,” said Jeremy Smith, the co-founder of Tourism Declares a Climate Emergency , an initiative that supports climate action and provided the framework for the Glasgow Declaration.

“Our initiative launched two years ago because the industry had no collective plan, and we did well getting over 400 tourism organizations on board without funding,” he said. “But the Glasgow Declaration builds on our work. It’s the coming together of major players in our sector and it’s owned by everyone who has signed it, establishing collective responsibility.”

The travel industry is a large contributor to global carbon emissions, with a footprint estimated between 8 and 11 percent of total greenhouse gases, according to the World Travel & Tourism Council, or W.T.T.C . Aviation alone represents around 17 percent of total travel carbon emissions. Each year, a growing number of destinations and communities heavily dependent on tourism — countries like Thailand, India and Madagascar — are hit hard by the impacts of climate change, in the form of rising sea levels, drought, wildfires, deforestation and biodiversity loss.

The pandemic spotlighted the adverse impact of industry growth and overtourism on Venice, Bali and other popular destinations, forcing some places to take stock and pivot toward more sustainable and environmentally friendly business models. Yet with most operators and destinations reeling from the industry shutdown last year, it is unclear how many of those plans will be prioritized over the need for fast recovery.

“We need a cultural change and we need to move beyond the traditional growth-oriented mind-sets to see a more sustainable, responsible and climate-neutral tourism ecosystem,” said Patrick Child, deputy director general of environment at the European Commission.

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‘A lot of apathy’

The declaration has four main targets: measurement, requiring companies to disclose all travel- and tourism-related emissions; decarbonization, by setting targets aligned with climate science; regeneration, to restore and protect natural ecosystems; and collaboration, to ensure best practices are shared and financing is available to follow through.

A recent analysis by the W.T.T.C. of 250 travel businesses found that only 42 percent had publicly announced climate targets and many of them were not based on the latest science. The council last week published a road map for different industries within travel, providing concrete guidance on how to reach “net zero” targets by 2050.

“There has been a lot of apathy, with some people not quite sure about what they need to do and how to do it, or some thinking they are not significant enough, and that’s why it’s really important for larger organizations to show the way,” said Darrell Wade, the co-founder and chairman of Intrepid Travel , the only global tour company with a climate target verified by the Science Based Targets initiative , which promotes best practices in emissions reductions in line with climate science.

Joining Deutsche Bahn and Panama in signing the Glasgow Declaration are big companies like Accor, Skyscanner, The Travel Corporation and Iberostar Group , as well as countries that are already affected by climate change, including Norway and Barbados. Signatories hope that more destinations will participate in the coming weeks.

Throughout his experience in the Tourism Declares a Climate Emergency initiative, Mr. Smith found it easier to get smaller, more agile companies and smaller countries involved. When it came to larger companies, there were more barriers and obstacles, he said.

“When you reach a destination, or even a city, it becomes even harder because there are multiple different players with different interests at the scale of a country,” he said. “It takes time.”

Panama, one of only three carbon-negative countries in the world (meaning that it absorbs more carbon emissions than it emits), has taken a lead role in establishing initiatives for economic growth in tourism, which also benefit and preserve local communities and resources.

“Our main plan for our sustainable tourism market is to empower local communities, particularly Indigenous people, so that they can generate an income through tourism that allows them to preserve their ancestral way of life, allowing them to sustainably manage their natural resources like forests and coral reefs,” said Ivan Eskildsen, Panama’s tourism minister.

He pointed to an example of a trail that was built in a national park that was designed to involve local communities in the active management of the area. “Over 30 percent of our land and sea are preserved national parks, so it’s humanly impossible to supervise all these areas,” he said. “The community can benefit economically from these areas and will also be prone to stay and take care of it instead of only coming there for short-term income.”

Visit Scotland, that country’s national tourism organization, which helped draft the declaration, has also taken a lead role. The organization has reduced its own carbon emission by 74 percent since 2008, and more than 850 local businesses have been given green tourism awards for their sustainability efforts.

Challenges persist

While the Glasgow Declaration has garnered great momentum and established common objectives, challenges lie ahead, especially when it comes to setting a global standard for reporting emissions figures for such a wide range of sectors within the industry, from tour operators to destinations, and airlines to cruise ships.

Signatories are expected to hold each other accountable and set common standards throughout international supply chains. Once action plans have been submitted within the next year, a reporting framework will be necessary. Anyone who fails to submit a road map within that time frame will be removed from the declaration.

“It is really important to bring value chains together,” said Catherine Dolton, the chief sustainability officer at IHG Hotels and Resorts. “Hotel developers, hotel owners, investors, franchisees, as well as the operators, are all impacting sustainability at different stages of the hotel life cycle.”

Visibly absent from the list of signatories were members of the cruise industry. The sector made a separate pledge to pursue carbon-neutral cruising by 2050 and reduce emissions 40 percent by 2030 in an annual environmental report, published last week by the industry trade group, Cruise Line International Association. While the report makes detailed commitments to reducing the cruise industry’s carbon footprint using new technology and alternative fuels, it does not address other environmental issues such as discharge of waste.

“Despite technical advances and some surveillance programs, cruising remains a major source of air, water (fresh and marine) and land pollution affecting fragile habitats, areas and species, and a potential source of physical and mental human health risks,” according to a recent report by the Marine Pollution Bulletin Journal.

Though there was some disappointment about the limited participation of some industries in the pledge, the overall sentiment was one of optimism and a belief that the declaration would lead to real change and less “greenwashing,” a term used to describe companies that try to portray themselves as more environmentally minded than they actually are.

“I’ve long been quite pessimistic about travel and tourism’s approach toward climate change,” said Mr. Wade of Intrepid Travel, which recently published a tool kit, available online, to help travel businesses measure and reduce their carbon emissions. “But now I’m really very optimistic because there is broad-level support from the industry to actually reduce emissions, and it’s the first time I’ve seen real concrete commitments from industry and governments.”

Follow New York Times Travel on Instagram , Twitter and Facebook . And sign up for our weekly Travel Dispatch newsletter to receive expert tips on traveling smarter and inspiration for your next vacation. Dreaming up a future getaway or just armchair traveling? Check out our 52 Places list for 2021 .

Ceylan Yeginsu is a London-based reporter. She joined The Times in 2013, and was previously a correspondent in Turkey covering politics, the migrant crisis, the Kurdish conflict, and the rise of Islamic State extremism in Syria and the region. More about Ceylan Yeginsu

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The 15 Best Tour Operators in 2022

These are the companies Travel + Leisure readers trust to provide them with travel expertise and memorable experiences.

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Note: If you’re looking for our most recent recommendations, check out the 2023 list of our favorite tour operators .

When it comes to an itinerary, Travel + Leisure readers want more than a string of photo opportunities — and the right tour operator makes all the difference in creating a trip of a lifetime versus one that simply checks off a list of sights. This year, our readers were especially drawn to companies that utilize local expertise and experience to thoughtfully design trips that will entertain as well as inspire.

Every year for our World's Best Awards survey , T+L asks readers to weigh in on travel experiences around the globe — to share their opinions on the top hotels, resorts, cities, islands, cruise ships, spas, airlines, and more. Readers rated tour operators and safari outfitters based on their staff and guides, itineraries and destinations, activities, accommodations, food, and overall value.

The top picks were noted for their deep knowledge of destinations and guides who "go the extra mile." One reader who has been traveling for more than five decades said a trip with Classic Journeys (No. 2) was the "very best" they had experienced. Others noted attention to pandemic safety details, while one who went to Norway was charmed by a "wonderful surprise dinner in Bergen out on the water that was fantastic."

Tour operators that seamlessly navigated the logistics of a trip also came out on top. Quasar Expeditions (No. 9) was noted "for really planning out every detail" so that "all you have to do is show up and have a great time." Meanwhile, of TCS World Travel (No. 10), a guest said: "You never lift a finger and just spend your time actually exploring the destination." They even added that they "learned so much" along the way.

Among the five companies on this year's list that weren't on last year's were two women-only tour operators that cater to travelers of all ages. AdventureWomen (No. 14) has multiday tours designed by women from Bhutan to Yellowstone National Park, while Explorer Chick (No. 15) has everything from day trips — like glassblowing in Baltimore and cave rappelling in St. Louis — to full itineraries in Machu Picchu and the Galápagos. One reader said her Everest Base Camp trip with AdventureWomen was filled with "like-minded women" who "bonded so well," while another said she felt it was a "safe tour group for women."

No matter which tour they chose, readers were most taken by the people they met along the way, as one said of Trek Travel (No. 13): "By the end of the trip, a group of strangers felt like longtime friends." Find out which other companies round out the list of the best tour operators below.

1. DuVine Cycling + Adventure Co.

A tour with DuVine goes far beyond just riding a bike — it's a way to really see the character of a destination. Case in point: even those who say they're not necessarily cycling fans have been converted. That's part of what helped the tour operator — which runs trips in Europe, the U.S., Latin America, and Africa — skyrocket from No. 14 last year to this year's top spot. Its "top-notch biking equipment" and "challenging but doable itineraries" didn't hurt either. One reader was especially taken by a guide picking figs off of a local tree in Puglia for an extra energy boost during a tough climb, as well as another guide singing to the group after dinner. As another reader put it simply: "They exceed your expectations."

Score: 99.12

More information: duvine.com

2. Classic Journeys

Score: 99.04

More information: classicjourneys.com

3. Artisans of Leisure

Score: 98.38

More information: artisansofleisure.com

4. (tie) Black Tomato

Score: 98.33

More information: blacktomato.com

4. (tie) GeoEx

More information: geoex.com

4. (tie) Wilderness Travel

More information: wildernesstravel.com

7. Inside Japan Tours

Score: 98.14

More information: insidejapantours.com

8. Kensington Tours

Score: 98.03

More information: kensingtontours.com

9. Quasar Expeditions

Score: 97.84

More information: quasarex.com

10. TCS World Travel

Score: 97.78

More information: tcsworldtravel.com

11. Butterfield & Robinson

Score: 97.33

More information: butterfield.com

Score: 96.95

More information: tauck.com

13. Trek Travel

Score: 96.90

More information: trektravel.com

14. AdventureWomen

Score: 96.11

More information: adventurewomen.com

15. Explorer Chick

Score: 95.87

More information: explorerchick.com

Related Articles

The New Normal: Travel Companies Temper Expectations for 2024

Reuters

FILE PHOTO: A cleaning lady wearing a protective face mask wipes dust in the lobby at the Sacher hotel in Vienna, Austria May 28, 2020. REUTERS/Leonhard Foeger/File Photo

By Doyinsola Oladipo

NEW YORK (Reuters) -The buzzword from travel companies for 2024 is "normal."

After the pandemic slammed the brakes on the tourism industry, and the subsequent years were the era of "revenge travel," hotel operators Hilton Worldwide and Marriott International and online travel agency Expedia expect demand to grow more slowly this year.

They, along with other travel companies, are forecasting full-year 2024 profits short of the consensus from Wall Street analysts. That has been a disappointment to investors, as people had been making more room in their spending budgets for vacations and hotel stays.

"We expect travel demand to remain relatively healthy, but we expect growth rates across the world to decelerate," Expedia Chief Executive Officer Peter Kern told investors on a call.

Marriott told investors that it expects 2024 revenue per available room, a closely watched industry metric for hotels' top-line performance, to increase between 3% and 5% this year, after nearly 15% growth in 2023.

Similarly, Hilton expects full-year room revenue to rise between 2% and 4% in 2024, down from a 12.6% increase in 2023.

"The rebound impact from the pandemic has waned," Marriott's CEO Anthony Capuano told investors on a call.

So far this year, Marriott and Hilton shares have risen 3.4% and 3.3%, respectively, after gains of 51.46% and 44.10% in 2023.

The U.S. hotel industry notched new records for the average daily room rate and revenue per available room, according to commercial real estate analytics firm CoStar, but that may not be repeated this year.

Average U.S. revenue per available room in 2023 was $97.97, up 4.9% from 2022. Average daily rates rose 4.3% to $155.62, according to CoStar.

Despite expectations for travel costs to rise 3.5% year-over-year in 2024, travelers have an average of about 4.9 trips planned per person, a 2% rise above 2019 levels, according to a survey of over 500 U.S. travelers by Jefferies.

Short-term rental company Airbnb forecast first-quarter revenue above Wall Street estimates on Tuesday, as it expects a boost from strong cross-border travel.

However, the company expects the growth rate of nights booked in the quarter to moderate compared with the fourth quarter of 2023. Average daily rates for the quarter are expected to be flat or slightly up year-over-year, the company said.

One laggard for hospitality companies has been China, but the hotel giants were more optimistic about that country's growth for the coming year as well as rebounding group and business travel.

"For the hotel industry, 2024 will be the first normal year we've seen since 2019," said Patrick Scholes, Truist equity analyst. "The last market still needing to catch up is China."

Hilton forecast 2024 adjusted profit between $6.80 and $6.94 per share, below the analyst consensus for $7.07, while Marriott's range was $9.18 to $9.52 per share, versus expectations for $9.69 per share, LSEG data showed.

Airfares are also expected to soften, analysts said, as excess domestic capacity has weakened the pricing power of air carriers.

In January, domestic airfare averaged $273 per round-trip ticket, up 1.8% from 2023 but down 2.2% from 2019, according to data from travel booking app Hopper.

Expedia said it expects revenue growth in 2024 to be in the mid-single digits after a 10% increase in revenue in 2023, and it said pricing should be soft across several categories in 2024. The company's gross air bookings were partially affected by lower average ticket prices and continued pressure on car rental rates.

Investors will get another look at how the accommodations sector performed in the fourth quarter when vacation rental company Airbnb reports earnings after the bell on Tuesday.

(Reporting by Doyinsola Oladipo in New York; additional reporting by Aishwarya Jain in Bengaluru; Editing by Nick Zieminski and Jonathan Oatis)

Copyright 2024 Thomson Reuters .

Tags: United States

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Away has promoted its CFO to the new role of president as the company prepares for aggressive growth.

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Away

Away is eyeing further growth and has appointed its first president. The direct-to-consumer luggage and lifestyle brand has promoted chief financial officer Catherine Dunleavy to the newly created position.

As Away’s president, Dunleavy will oversee strategy, operations and supply chain, digital product, legal and finance. Away will look to hire a new CFO.

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Earlier this year, Away added a new product offshoot called F.A.R. — For All Routes — to its assortment, a collection of luggage with outdoorsy, performance-driven tourism in mind. This, coupled with the return of travel , has helped the company exceed its pandemic recovery projections, it said.

Dunleavy said of her new job: “I’m incredibly proud of the work that the entire Away team has accomplished since I joined the company two years ago. I’m honored that [cofounder] Jen Rubio and the board have given me their confidence to drive greater impact in this new role. Away’s continued growth amid tumultuous macro-environments coupled with our impressive brand affinity highlight just how beloved Away remains, despite external factors impacting retail and travel industries. I’m excited to work alongside Away’s best-in-class executive team as we continue to catapult the company’s future growth together.”

In an exclusive statement to WWD, Rubio said that adding the role of president to Away’s executive lineup has been a long time coming. “I, along with Away’s board, have been eager to establish this role for some time. Over the last few years, one of my biggest priorities has been to build a top-tier leadership team to help me steer the business into the future. Throughout that process — and as the business continues to strengthen and mature — we identified this new structure as an opportunity to create deeper focus, drive greater impact across the business and enable a more seamless execution of our long-term plans,” Rubio said.

Rubio, who remains the brand’s chief executive officer, added: “It’s important to note that the position of president is not simply an extension of scope for our financial function, but rather a distinct role that will leverage Catherine’s experience and expertise in a new capacity. As president, Catherine will directly oversee finance, legal, operations and supply chain, and technology functions. As a result, I’ll be able to dedicate increased focus on our brand, our products and our people operations.”

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20 largest travel companies in the world.

In this article, we will be covering the 20 largest travel companies in the world. If you want to skip our detailed analysis of the travel and tourism industry, you can go directly to 5 Largest Travel Companies In The World .

The travel and tourism sector plays a vital role in global economies. It creates jobs, fosters cultural exchange, and supports local businesses. It promotes understanding between nations while also contributing significantly to GDP growth. According to the World Travel & Tourism Council (WTTC), travel and tourism accounted for 7.6% of global GDP in 2022 while also creating 22 million new jobs around the world.

An Analysis of the Global Travel and Tourism Industry

The travel and tourism sector plays a crucial role in addressing societal and economic challenges. The industry is now thriving after being severely impacted during the peak of the COVID-19 crisis, which led to travel restrictions, cancellations, and a sharp decline in tourism activities. According to a report by Market Research Future, the global travel and tourism market reached a value of $648.03 billion in 2023. The market is expected to grow at a compound annual growth rate (CAGR) of 5.8% from 2023 to 2032 and reach a value of more than $1.01 trillion by the end of the forecasted period. The North American region leads the global travel and tourism market, while Europe follows as the second-largest market. The Asia-Pacific region is anticipated to exhibit the fastest growth in the industry during the forecasted period.

The travel and tourism market is undergoing a digital transformation with online booking platforms, travel agencies, mobile apps, and online travel-related services driving growth by enhancing connectivity and providing convenient and personalized traveler experiences. The trend of cultural and experiential tourism, with travelers seeking authentic, immersive experiences, unique destinations, and local experiences, is also a key factor driving market growth. Moreover, the rise in disposable incomes, especially in emerging markets, is leading to increased tourism. More people have the means to explore domestic and international destinations. According to the World Travel & Tourism Council (WTTC), domestic visitor spending saw an increase of 20.4% in 2022. On the other hand, international visitor spending went up by 81.9% in 2022.

What are Some of the Biggest Companies in the Travel and Tourism Industry Up To?

Prominent companies in the travel and tourism industry are actively pursuing various strategies to expand their global presence and increase their profitability. Some of the most notable names are Marriott International Inc. (NYSE: MAR ), Hilton Worldwide Holdings Inc. (NYSE: HLT ), and Booking Holdings Inc. (NASDAQ: BKNG ).

Booking Holdings Inc. (NASDAQ:BKNG) is one of the world’s largest providers of online travel and related services. It provides online travel services in more than 220 countries through its brands which include Booking.com, Priceline, Agoda, KAYAK, and OpenTable. Booking Holdings Inc. (NASDAQ:BKNG) is also one of the best travel stocks to buy . On February 22, Booking Holdings Inc. (NASDAQ:BKNG) reported strong earnings for the fiscal fourth quarter of 2023. The company reported earnings per share (EPS) of $32, surpassing EPS estimates by $1.95. The company’s revenue for the quarter grew by 18.15% year-over-year and amounted to $4.78 billion, ahead of market consensus by $73.37 million. Here are some comments from Booking Holdings Inc.’s (NASDAQ:BKNG) Q4 2023 earnings call:

“As we look to the year ahead, we see strong growth on the books for travel that’s scheduled to take place in 2024, which gives early indications of potentially another record summer travel season. As we’ve noted previously, a high percentage of these bookings are capable and what is on the books today for the summer period represents a small percentage of the total bookings that we expect to ultimately receive. David will provide further details on fourth quarter results and on our thoughts about the first quarter and full year 2024. Looking back at the full year of 2023, I am proud of our efforts to drive more benefits to our travelers and supply partners while also delivering record-setting industry-leading financial results. We reached a significant milestone last year with our customers’ booking an all-time high of over 1 billion room nights on our platform, which was an increase of 17% versus 2022.”

As the demand for travel and tourism continues to grow, companies operating in this space are launching new products, engaging in mergers and acquisitions, increasing investments, and forming contracts and collaborations. Marriott International Inc. (NYSE:MAR) is an American multinational hospitality company. It operates and franchises hotels and licenses vacation ownership resorts in more than 130 countries around the world. On March 7, Marriott International Inc. (NYSE:MAR) announced that it has entered into an agreement with Victoria Park Hotels Ltd. to launch The Park Lane Hong Kong, Autograph Collection. This new addition is set to become part of Autograph Collection Hotels by early 2025. Autograph Collection Hotels’ portfolio includes more than 300 independent properties in some of the most desirable locations around the world. Situated within a 28-story mixed-use complex featuring retail spaces on the lower floors, the new hotel is projected to have 820 guest rooms, an executive lounge, 3 unique dining venues, extensive event spaces spanning over 1,700 square meters, and various recreational facilities. Some of the guest rooms will boast stunning views of Victoria Harbour, while others will overlook the city or Victoria Park in Hong Kong.

On February 7, Hilton Worldwide Holdings Inc. (NYSE:HLT) announced an exclusive strategic partnership with Small Luxury Hotels of the World (SLH) that will introduce guests of Hilton Worldwide Holdings Inc. (NYSE:HLT) to a wide range of hotels in some of the most popular destinations around the world. This collaboration will significantly enhance Hilton Worldwide Holdings Inc.’s (NYSE:HLT) luxury offerings as unique SLH properties become part of the esteemed Waldorf Astoria Hotels & Resorts, Conrad Hotels & Resorts, and LXR Hotels & Resorts brands.

Now that we have discussed what’s going on in the global travel and tourism industry, let’s take a look at the 20 largest travel companies in the world.

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Methodology

In this article, we have listed the 20 largest travel companies in the world. To find the top travel companies in the world, we sifted through various sources including industry reports, our own rankings in addition to rankings available on various websites, and consulted stock screeners from Yahoo Finance and Finviz. For companies that are publicly traded, we decided to rank them according to their market capitalization as of March 9. We used fiscal year revenues to rank the companies that are not publicly traded. For foreign companies, we converted the market caps and revenues to US dollars according to their respective exchange rates, as of March 9. Finally, we narrowed down our selection to rank the 20 largest travel companies in the world based on their market capitalization and revenues, which are listed below in ascending order.

20. Host Hotels & Resorts Inc. ( NYSE: HST )

Market Capitalization: $14.9 Billion

Host Hotels & Resorts Inc. (NYSE:HST) is a major American lodging real estate investment trust (REIT) that invests in hotels. It owns a diverse portfolio of luxury and upper-upscale hotels. Host Hotels & Resorts Inc. (NYSE:HST) has a market capitalization of $14.9 billion as of March 9, 2024.

19. Hyatt Hotels Corporation ( NYSE: H )

Market Capitalization: $16.12 Billion

Hyatt Hotels Corporation (NYSE:H) is an American multinational hospitality company. As one of the world’s top hospitality companies, it manages and franchises luxury and business hotels, resorts, and vacation properties in more than 70 countries across 6 continents. As of March 9, 2024, Hyatt Hotels Corporation (NYSE:H) has a market capitalization of $16.12 billion.

18. InterContinental Hotels Group PLC ( NYSE: IHG )

Market Capitalization: $17.4 Billion

InterContinental Hotels Group PLC (NYSE:IHG) is a British multinational hospitality company. With more than 6,000 hotels in over 100 countries, it is one of the world’s leading hotel companies. InterContinental Hotels Group PLC (NYSE:IHG) has a market capitalization of $17.4 billion as of March 9, 2024. It ranks 18th on our list of the 20 biggest travel companies in the world.

17. Expedia Group Inc. ( NASDAQ: EXPE )

Market Capitalization: $18.5 Billion

Expedia Group Inc. (NASDAQ:EXPE) is an American travel technology company. As one of the top travel agencies in the world, it owns and operates various brands including Expedia, Hotels.com, CarRentals.com, Vrbo, Travelocity, Trivago, Orbitz, Ebookers, CheapTickets, and Expedia Cruises. As of March 9, 2024, Expedia Group Inc. (NASDAQ:EXPE) has a market capitalization of $18.5 billion.

16. Southwest Airlines Co. ( NYSE: LUV )

Market Capitalization: $20.44 Billion

Southwest Airlines Co. (NYSE:LUV) is an American airline company. It offers low-cost air travel service with frequent flights of mostly short routes. As one of the biggest travel companies in the world, Southwest Airlines Co. (NYSE:LUV) has a market capitalization of $20.44 billion as of March 9, 2024.

15. Qatar Airways Group

Revenue: $21 Billion

Qatar Airways Group is the flag carrier of Qatar. Owned by the Government of Qatar, it is one of the world’s top airlines and it currently flies to over 170 international destinations. Qatar Airways Group generated an annual revenue of $21 billion in the year 2022-2023. It ranks among the top 15 on our list of the 20 largest travel companies in the world.

14. Carnival Corporation & plc (NYSE: CCL )

Market Capitalization: $21.38 Billion

Carnival Corporation & plc (NYSE:CCL) is a British-American cruise operator. As one of the world's largest leisure travel companies, it owns some of the most well-known cruise line brands in North America, the United Kingdom, Germany, Italy, and Australia. Carnival Corporation & plc (NYSE:CCL) has a market capitalization of $21.38 billion as of March 9, 2024.

13. Galaxy Entertainment Group Limited (SEHK:0027)

Market Capitalization: $21.83 Billion

Galaxy Entertainment Group Limited (SEHK:0027) is one of Asia’s top developers and operators of integrated entertainment and resort facilities. It owns and operates a broad portfolio of integrated resort, retail, dining, hotel, and gaming facilities in Macau. As one of the top travel companies in the world, Galaxy Entertainment Group Limited (SEHK:0027) has a market capitalization of $21.83 billion as of March 9, 2024.

12. Delta Air Lines Inc. ( NYSE: DAL )

Market Capitalization: $27.17 Billion

Delta Air Lines Inc. (NYSE:DAL) is one of America’s major airlines. It is also one of the world’s largest airlines by number of passengers carried. As one of the top travel companies in the world, Delta Air Lines Inc. (NYSE:DAL) has a market capitalization of $27.17 billion as of March 9, 2024.

11. Amadeus IT Group S.A. (BME:AMS)

Market Capitalization: $27.31 Billion

Amadeus IT Group S.A. (BME:AMS) is a Spanish multinational technology company that develops technology and software for airlines, travel agencies, hotels, payment providers, and other travel-related businesses to enhance their operations and customer experiences. With a presence in more than 190 countries, the company provides software solutions for the global travel and tourism industry. As of March 9, 2024, Amadeus IT Group S.A. (BME:AMS) has a market capitalization of $27.31 billion.

10. Trip.com Group Limited ( NASDAQ: TCOM )

Market Capitalization: $28.27 Billion

Trip.com Group Limited (NASDAQ:TCOM) is a multinational travel service company that ranks among the top 10 on our list of the largest travel companies in the world. It owns and operates several travel agencies and travel fare aggregators including Ctrip, Qunar, Trip.com and Skyscanner. As of March 9, 2024, Trip.com Group Limited (NASDAQ:TCOM) has a market capitalization of $28.27 billion.

9. Ryanair Holdings plc ( NASDAQ: RYAAY )

Market Capitalization: $32.3 Billion

Ryanair Holdings plc (NASDAQ:RYAAY) is an Irish airline company. As one of Europe's largest airline groups, it is the parent company of Ryanair, Ryanair UK, Buzz, Lauda, and Malta Air. With a market capitalization of $32.3 billion as of March 9, 2024, Ryanair Holdings plc (NASDAQ:RYAAY) ranks 9th on our list of the 20 largest travel companies in the world.

8. Emirates Group

Revenue: $32.6 Billion

Emirates Group is Dubai’s state-owned international aviation holding company. It owns Dubai National Air Travel Agency (dnata), an airport and ground services company, and Emirates Airline, one of the largest airlines in the Middle East. Emirates Group generated an annual revenue of $32.6 billion in the year 2022-2023.

7. Royal Caribbean Cruises Ltd. ( NYSE: RCL )

Market Capitalization: $32.71 Billion

Royal Caribbean Cruises Ltd. (NYSE:RCL) is a global cruise holding company that owns and operates cruise brands including Royal Caribbean International, Celebrity Cruises, and Silversea Cruises. As one of the world’s largest cruise line operators, Royal Caribbean Cruises Ltd. (NYSE:RCL) has a global fleet of 65 ships traveling to around 1,000 destinations around the world. The company has a market capitalization of $32.71 billion as of March 9, 2024.

6. Las Vegas Sands Corp. ( NYSE: LVS )

Market Capitalization: $38.81 Billion

Las Vegas Sands Corp. (NYSE:LVS) is an American casino and resort company that owns and operates integrated resorts in Macao and Singapore. As a driver of valuable leisure and business tourism, it is one of the world’s largest hotel and casino companies. With a market capitalization of $38.81 billion as of March 9, 2024, Las Vegas Sands Corp. (NYSE:LVS) ranks 6th on our list of the 20 largest travel companies in the world.

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Travel’s Fastest Growing U.S. Small Businesses Offer a Glimpse Into These Emerging Trends

Sean O'Neill, Skift

August 19th, 2021 at 2:00 AM EDT

The pandemic catapulted a few niche innovations into widespread use, benefiting a few fast-moving travel businesses. Lists come and go, but pay attention to the underlying trends that will last after the crisis passes.

Though the pandemic has hammered much of the travel sector, a handful of fast-growth companies powered through somewhat undiminished. Apart from the worst lockdowns, 16 U.S. private companies in travel emerged in good enough financial health to be counted as among the 5,000 fastest-growing private companies in America .

The track record of these travel businesses reflects broader trends that undergird the entire sector’s phased recovery. The pandemic in many ways re-prioritized what people want from travel suppliers. Some interests and behaviors that used to be specialized transformed into more widely popular options. Vacation rentals, outdoor travel, and experiences are some of the categories to benefit.

The list from Inc. assessed companies by their revenue growth between 2017 and 2020. Like every list, it isn’t perfect. This one suspiciously neglects startups, such as recreational vehicle marketplace Outdoorsy and outdoor adventure booking service Hipcamp , which seem to be growing rapidly.

“Many venture backed companies refuse to disclose precise revenue numbers and that means they don’t appear on the Inc list,” said Nadav Gur, a principal at Vanguard Enterprises , a consultancy for startups, and executive chairman of ridehail aggregator Obi .

But directionally speaking, the companies on the list reveal broader patterns worth tracking.

Alternative Accommodations Is the Big Winner

The top-performer in the travel and hospitality sector is Frontdesk , named the 136th fastest-growing private company on the list. The Milwaukee, Wisconsin-based startup runs short-term rentals with hotel-like amenities. It also sells operational software, called Flex , to property managers.

“It’s an honor to be on the list, but it’s even more of an honor just to survive Covid,” said Kyle Weatherly, co-founder and CEO at Frontdesk, which operates more than 700 fully managed suites in 160 buildings across 35 U.S. cities.

“From a revenue perspective and consumer behavior perspective, we’re back to pre-Covid levels,” Weatherly said. “We’re on track to be profitable next year.”

Another fast-growing company in the alternative accommodations space also is a startup taking a branded approach. Yet AvantStay , a Los Angeles-based business, has a twist in that it specializes in short-term rentals for groups.

Frontdesk and AvantStay belong to the largest cohort of the fast-growing companies in travel, namely ones that professionally manage alternative accommodations. This lodging category has drawn consumers in large numbers during the pandemic.

The list of fast-growth property managers includes Del Mar Vacations , which rents 200 Cape Cod properties, RealJoy , which rents 800 vacation homes in Florida, Vacation Rentals of Breckenridge , which rents Colorado homes, Teeming , a full-service property manager in Florida, Sandbridge Blue , which rents beach houses in Virginia, and Nomadess , which rents luxury properties in California and Colorado.

More Working From Home Means More Travel

One key pandemic trend has been an interest in the outdoors. Gaining from that was Under Canvas , an outdoor destination hospitality experience company providing “safari-style accommodations.”

Ready to pounce on the trend in companies reuniting workers and managing distributed workforces is Team Housing Solutions . It’s a fast-growth company based in Texas that provides corporate lodging solutions, including full-service corporate housing and discounted hotel options for teams of all sizes.

Both businesses are riding the tailwinds of a bigger displacement that may turn out to be an enduring feature.

“The biggest outcome from the pandemic might be a lastingly higher number of people who keep an option to work remotely part or all of the time,” said Gur of Vanguard Enterprises. “Unless you have to send kids to school or are tied to a dialysis machine, you can have more mobility more often.”

“This trend will have momentum even after the pandemic fades and will benefit the travel industry broadly, but especially players in the recreational vehicle, camping, and vacation rental spaces,” Gur said.

Surprises and Experiences

One of the surprise names on the fast-growth company list is World Amenities , which makes guest room amenities that are vegan, cruelty-free, environmentally friendly, recyclable, and biodegradable. The underlying trend from this challenger to Sysco there speaks for itself.

A demand for experiences by travelers also played into the hands of AOA , a creator of immersive design and production of themed rides and attractions, live shows, and interactive exhibits. If you want something creative for your museum or attraction park, you might turn to this Florida-based consultancy and vendor.

The fastest growing company in the tours, activities, and experiences sector has been City Brew Tours , a nationwide franchise that provides local brewery tours.

A Bet on Travel Tech Investment

Some parts of the travel industry are going through a similar digital transformation as other sectors, such as e-commerce and retail, went through after the financial crisis a decade ago.

Vendors and consultants aim to help travel companies adapt to the new realities.

A case in point is Jacaruso Enterprises , which is a Texas-based company that provides remote hotel sales support and training for owners and management companies of small to medium size hotels.

Playing to that tech-outsourcing trend, too, is StayMarquis , which provides marketing, booking, concierge and management services for vacation rentals.

The subscription model is a trend much discussed in the past year, and one example of a fast-growth company making use of it is Vacation VIP , an Orlando-based digital marketing agency focusing on providing qualified prospects to timeshare resort developers.

For this review, we picked 16 companies as fitting a classical definition of “travel,” and we left out adjacent services, such as private jet aviation.

Yet we see that some companies that made the Inc 5,000 list impact the travel sector without being formally part of it. The most notable company like that is DataArt , a software engineering firm, because of the broader trend in outsourced tech spending that it represents.

“We expect the travel sector to approach 15 percent of our company’s revenue by the end of 2021,” said Greg Abbott, DataArt’s head of travel, transportation, and hospitality. “Travel companies are leveraging automation and custom technology solutions to solve for many of the operational challenges born from the pandemic.”

When sectors face a revenue crunch or a new cycle for technological investment, companies typically turn to outsourced vendors for help. Many analysts expect the travel sector to turn to tech experts in the coming year.

DataArt, which has 5,000 workers, had a growth rate of 80 percent in the three years through 2020. Its travel practice has served more than 100 travel brands, including Priceline, Apple Leisure Group, Inspirato, and Best Day Travel.

Beyond Silicon Valley

One subtle trend that the list of fast-growing companies reveals is that the 16 travel companies aren’t based in the traditional startup headquarters of either Silicon Valley or New York. Not only are more people working remotely, but more and more entrepreneurs are founding companies outside of the best-known entrepreneurial hubs. While Inc’s list seems to overlook some venture-backed companies, it nevertheless reveals a geographically diverse landscape.

Small business is having a moment. In 2020, the U.S. Census received a record number of new business applications, with nearly 4.5 million enterprises forming, which was 51 percent higher than the 2010-19 annual average. Many of the companies are sole proprietorships that may fade with time. But several of these businesses will eventually need to travel to grow their companies, boosting the broader industry.

These companies may be more resilient even after the foam blows out of equity markets.

“As a Midwest-based company, we didn’t have access to as much investor capital,” Weatherly of Frontdesk said. “That reality forced us to be very capital efficient, growing almost entirely out of revenues.”

Founded in 2017, his startup reported 3,012 percent growth in the past three years. Yet earlier this month it only raised a $7 million venture round.

“Whatever the opposite of fake it until you make it is, that’s what we’ve had to do,” Weatherly said. “We didn’t have piles of investor cash.”

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Our daily coverage of the global travel industry. Written by editors and analysts from across Skift’s brands.

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Tags: coronavirus recovery , small businesses , startups

Photo credit: A short-term rental apartment with hotel-style amenities bookable in Columbus, Ohio, from Frontdesk, a startup based in Milwaukee. It's the fastest-growing of more than a dozen U.S. private companies in travel, according to Inc. magazine. Frontdesk

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Credit cards are getting smarter

How banks are using huge amounts of data to separate legitimate purchases from scams

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In mid-March, a scammer in California tried to buy $150 worth of Wingstop using my debit card. Aside from being impressed at the sheer size of the order, I was relieved because Citibank, which issued my card, declined the transaction on the spot and alerted me to the fraud. In minutes I was able to shut off my card, heading off any more purchases by the scammers, and order a new card. All's well that ends well.

When I went to Buenos Aires in April, I figured I might run into a similar situation . Sure, the banks say you don't have to call ahead when you travel anymore, but I assumed I'd still have some purchase flagged as potential fraud, as had happened in past trips abroad. Miraculously, everything went off without a hitch. I don't know how JPMorgan Chase knew that I would spend $200 on Botox in Argentina, but it did. (No, I didn't book my flight on the same card, and whatever, everybody gets Botox now .)

It's great that banks and credit-card companies are getting better at discerning which payments are fraudulent and which are legit. Many people have some horror story about having their credit card stolen or having their own legitimate transactions flagged as suspicious. And it's nice not to have to spend 20 minutes on the phone before a vacation explaining where you're going and when. Credit-card fraud protection is still far from perfect, but there's no denying that the technology is improving. On the flip side, it's also kind of wild to consider just how much financial institutions must know about you to make the right calls.

I was curious about how it all works — and, frankly, a little creeped out. So I reached out to some credit-card companies and academics to learn more. Why don't people have to alert their credit-card companies about travel anymore? And, more broadly, just how have banks gotten so good at figuring out what's normal about our spending habits and what isn't?

The Federal Trade Commission receives thousands of card-fraud complaints each year. The Nilson Report, which tracks the card industry, says payment-card fraud resulted in $33 billion in losses worldwide in 2022 and $13.6 billion in losses in the US. As such, credit-card issuers and banks are keen to do what they can to spot fraud. They want to keep their customers happy, and, more importantly, they want to stem their losses. In the US, the major credit-card issuers and banks generally have a zero-liability policy , which means that when a customer gets scammed, the organization, not the customer, has to eat the cost.

Years ago, whether a transaction went through was based on things like whether a physical card was present, whether you had enough money to make the purchase, and (if the cashier wanted to look) whether your signature on the receipt matched the one on the back of your card. In some cases, the cashier may have even asked for ID or called the bank to verify the funds. We've come a long way from those bad old days by using the same tools that power most innovations: data and computers. Credit-card companies and banks know a lot about us — where we shop, when we spend, and how much we're usually willing to pay for things — and they're getting better and better at turning that knowledge into action.

The models are evaluating a trillion dollars' worth of transactions a year.

While it's all the rage to talk about newfangled forms of artificial intelligence , fraud detection owes a lot to machine learning, a field within AI that's been around for years. A bunch of data gets dumped into computer systems, and algorithms figure out patterns and relationships. The algorithms create decision trees to predict the likelihood of different outcomes and identify what may be considered normal or fishy. It's not that your credit-card company knows that you, specifically, would blow a bunch of cash on A and not on B — it knows that customers with your profile are in the "likes A" camp and not the "likes B" one.

"It's looking at what's happening that is very much out of the ordinary for your general behaviors," said Tina Eide, an executive vice president of global fraud risk at American Express. "And when I talk about general behaviors, it is generalized, right? It is not down to the specific purchase or to the specific merchant." Eide added, "The models are evaluating a trillion dollars' worth of transactions a year."

The machines know more now than ever. Mike Lemberger, Visa's regional risk officer for North America, said that over the past five years the number of data points people generate with their credit cards has grown tremendously. People are increasingly using cards over cash. And they don't just have a physical card they're pulling out at the store — they've got their card credentials in their Amazon account, Netflix account, iPhone, etc. The more purchases the card issuer can analyze, the more accurate the fraud detection will be.

"Visa, we don't have consumer information — that's your financial institution that has that — but what we have is this triangulation of all these data points," Lemberger said. "We can create more and better scores, layer on top of that machine learning and AI abilities, and it becomes a much, much more powerful predictor, which we then feed into all of our partners to say, 'Hey guys, if you want to make the best decisions, here's a whole bunch of really good information.'"

Visa isn't going to block your card directly, but it'll alert your bank that your purchase looks suspicious or that fraud has been detected at the merchant you're dealing with.

This all seemed pretty simple until I talked to Yann-Aël Le Borgne and Gianluca Bontempi, a pair of researchers at the Université Libre de Bruxelles in Belgium who work on machine learning and card fraud . They emphasized the vast scale of this fraud-detection technology. Companies and their algorithms are ingesting millions of transactions and creating so many decision trees to categorize certain activities that it can defy human logic, they said. Basically, the computer may be right that your transaction looks funky even if it's made in your home city at a fairly innocuous vendor, or it may be right that the transaction is fine even though it's made in a faraway place — but when humans try to figure out what did or didn't sound the alarm, nobody will really be able to pinpoint why.

"Machines can consider many more features, and at the end of the day it's not clear if all those features have meaning for humans," Bontempi said. "Humans are used to working with two, three features, at most five features, while machines can work with hundreds of features. So there are really different levels between what a machine can do."

There are human-written rules, which are generally interpretable, and there are machine-written rules, which can be a black box. They're more accurate, but they may be harder, if not impossible, for people to reverse engineer. And banks may be using several different algorithms, making this even more complicated. Data scientists are the ultimate decision-makers, but the information they're dealing with is based on highly complex tech.

Humans are used to working with two, three features, at most five features, while machines can work with hundreds of features.

When I explained to experts my somewhat embarrassing wings-versus-wrinkles conundrum and asked what may have triggered one alert and not the other, they offered up different explanations. Eide, from American Express, said that even though I hadn't booked my trip to Argentina with the credit card I used to buy the Botox, something else had probably tipped off the system that I was there. I realized I'd also bought a package of spin classes in Buenos Aires on my phone with the same card. I had also paid for a meal in the city. Lemberger, from Visa, emphasized that it's about all the data and spending patterns and said that given my spending patterns, the Botox likely matched my profile more than the massive delivery order.

"I hate to say this to you, but at the end of the day, all these data points build personas. Just like in marketing somebody would use personas to market to you, we're using that same technology to protect you," he said. "And the fact is that we use those data points to not just secure you but the whole ecosystem."

At some point it occurred to me that the supercomputers that credit-card companies and banks are working with could know more about me than I even know or understand about myself.

"It's probable that the exact reason why a transaction caused your card to be blocked has no straightforward interpretation," Le Borgne said.

I also asked whether there was a big difference in credit-card protections and debit protections and was told not really — maybe banks will be a little more restrictive about credit because they're technically lending you money that's not limited by your actual cash balance. I also asked if companies don't worry about preclearing travel because they don't care as much about losing money to fraud anymore, to which the answer was a hard no.

"At the end of the day, somebody's got to pay for the fraudulent activity," Lemberger said. Credit-card companies will give you your money back if you're a victim of fraud, but they'll find another place to recoup that money, just as they always do .

Instinctually, I am not a technology-is-awesome person — if the AI really is going to kill us, I feel like we should unplug it. I'm not super freaked out about the privacy stuff, but I also don't love the idea that AmEx and JPMorgan and Citi have me so pegged. But it's cool that companies really are making fraud detection better, especially in a world where fraudsters themselves are constantly getting better. I don't want to be like "Yay, banks!" but maybe here the answer really is a little "Yay, banks!" At least that's the case until the next major data-privacy breach, at which point I will regret everything.

Emily Stewart is a senior correspondent at Business Insider, writing about business and the economy.

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Chinese state-backed company to launch space tourism flights by 2028

B EIJING (Reuters) - Chinese commercial space company CAS Space announced its "space tourism vehicle" will first fly in 2027 and travel to the edge of space in 2028, state media reported on Friday.

The announcement comes just days after Jeff Bezos-backed Blue Origin announced that its New Shepard Rocket, which flies cargo and humans on short trips to the edge of space, would resume flights on Sunday, ending a near two-year pause of crewed operations.

CAS Space said that its vehicle will include a tourist cabin that has four panoramic windows and can carry seven passengers per flight. The company plans to arrange a launch every 100 hours from a newly-built aerospace theme park, with ten vehicles available to take tourists to the edge of space in shifts.

Tickets will cost 2 million to 3 million yuan ($415,127) per person per trip, state media said.

Guangzhou-based CAS Space was founded in 2018 and its second-largest shareholder is China's biggest state research institute, the Chinese Academy of Sciences.

China's space exploration program has recently narrowed the gap with the United States and could become the first country to return samples from the far side of the moon after it launched the Chang'e-6 mission earlier this month.

That launch attracted hordes of tourists to the launch site on China's island province of Hainan. Before blast-off tens of thousands of people gathered in different viewing spots near the launch site, causing long traffic jams.

($1 = 7.2267 Chinese yuan renminbi)

(Reporting by Eduardo Baptista; Editing by Sonali Paul)

FILE PHOTO: The Chang'e 6 lunar probe and the Long March-5 Y8 carrier rocket combination sit atop the launch pad at the Wenchang Space Launch Site in Hainan province, China May 3, 2024. REUTERS/Eduardo Baptista/File Photo

Hydrogen-powered aircraft in development by Australian company AMSL Aero aims for net zero aviation

While the race to transform electric vehicles on land speeds up, it is a different story in the sky.

Battery technology is not yet able to power even the smallest aircraft beyond 200 kilometres, and in Australia, that is hardly worth the effort.

But an Australian aviation startup on a mission to decarbonise air travel is developing a battery that could power a small aircraft to travel 1,000 km using hydrogen, and it already has a customer.

AMSL Aero received the first commercial order for its Vertiia aircraft from Aviation Logistics, the company behind regional airline AirLink.

AirLink chief executive Matthew Kline said the purchase was key to meet industry plans to be net zero by 2050.

"Using hydrogen is a game-changer for us, we can get up to 1,000km flight distance and that's what we need for the work we do," he said.

A person in a fluro jacket pushes open the door of an aircraft hangar to reveal a small electric aircraft

The next decade of aviation policy will be outlined with the release of the federal government's Aviation White Paper later this year.

Last year's Green Paper indicated two areas of focus were net zero emissions and accessibility for regional and remote communities, both of which could be supported by aircraft known as Advanced Air Mobility (AAM) services.

Vertiia is the first Australian-made aircraft to apply for AAM-type certification through the Civil Aviation Safety Authority (CASA).

A rendered image of an electric aircraft on tarmac with the sun setting in the distance

In a statement, CASA called it an exciting yet "daunting" task, considering Vertiia had features of both a helicopter and a fixed-wing aircraft.

"Nobody's done this in Australia ever and in that sense, it will be breaking new ground," said manager of aircraft certification, Klaus Schwerdtfeger.

Testing is already underway at an airstrip near Wellington, in central-west New South Wales, and if all regulatory approvals are met, operations could begin in 2027.

AirLink plans to initially rollout Vertiia for its freight and charter flight services, with a view of later introducing the hydrogen-powered aircraft for its scheduled service flying Dubbo, Walgett, Bourke and Lightning Ridge.

A man and a woman stand in front of an electric aircraft inside an airplane hangar

"At the moment, we fly out to Bourke and leave the aircraft out there all day before we fly back in the afternoon," Mr Kline said.

"But because the running costs are so much lower, we could bring that aircraft back and do other flights or run there and back a few times in a day."

Takes off like a helicopter, flies like a plane

As companies across the globe work to improve the fuel efficiency of existing planes, AMSL Aero co-founder Siobhan Lyndon said they chose instead to start from scratch.

"There are companies who are retrofitting fixed-wing aircraft and helicopters but this is a clean-sheet design," she said.

Co-founder and chief engineer Andrew Moore took inspiration from another Australian inventor while developing the Vertiia's box-wing design.

a small box wing aircraft hovers just above ground at a regional airstrip

"It's an evolution of the box kite which Lawrence Hargrave invented, and it's one of the oldest, funnily enough," he said.

Lawrence Hargrave was an Australian aeronautical pioneer who experimented with theories of flight to construct different flying machine models in the late 19th century.

"We actually did lots of configuration studies and just happened to come to the same conclusion that Hargrave did, the box-wing works really well."

Historical photo of two men preparing to launch box kites to fly

The Vertiia design uses eight motors pointed vertically for take-off and landing that rotate to a horizontal position when at cruising altitudes up to 10,000 feet, or 3,000 metres.

While other electric vertical take-off and landing aircraft (eVTOL) do exist, AMSL Aero hopes to be the first long-range eVTOL to market using hydrogen.

"Nearly all other eVTOL are focused on electric batteries which have a shorter range to serve the urban air mobility market like Manhattan, or that Silicon Valley-to-San Francisco route," Ms Lyndon said.

"Those aircraft will have a 160km range to start with, but we see hydrogen as a game changer for us to allow that longer range of 1,000km non-stop."

60 million drone flights annually by 2043

In October last year, researchers from Swinburne University of Technology completed the first flight of an uncrewed hydrogen fuel cell eVTOL drone in Australia.

By retrofitting existing drones with electric and hydrogen fuel cell systems, the Aerostructures Innovation Research (AIR) Hub team has been able to develop flight data for hydrogen-powered aircraft.

It is an area sorely lacking in data, according to AIR Hub director Adriano di Pietro.

"There is some work happening internationally, but it's usually locked up in a proprietary sense," Dr di Pietro said.

"The other reason we're doing this work is to really drive the use case and demand, to help Aussie companies actually justify doing first development for aviation systems."

Aerial view of people preparing a hydrogen powered drone for its first flight

AMSL Aero is also developing its own uncrewed aircraft after receiving a $3 million grant from the federal government's Cooperative Research Centre program to build a remotely piloted version of Vertiia to be used for aerial firefighting.

"Being remotely piloted, you might use it in ways that are too risky for a pilot today," Mr Moore said.

"It could potentially save people's lives on the ground by getting to those situations where there's a raging fire threatening people."

In March, Airservices Australia announced plans to develop a digital air traffic management system after an analysis projected the growth of drone and uncrewed aircraft would reach 60 million annual flights by 2043 .

"I think what is not talked about a lot is the fact that aviation underpins a lot of industry in Australia that most people aren't aware of," Dr di Pietro said.

"Most of the land area of Australia is serviced by aviation and certainly, there is a big government push at the moment to drive that forward."

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  15. Away Luggage Makes Executive Change as It Plots Accelerated Growth

    Away Names First President as Luggage Company Accelerates Growth With Return of Travel. Away has promoted its CFO to the new role of president as the company prepares for aggressive growth. By ...

  16. Best Vacations: Top Destinations and Hotels

    Find the best vacation spots, hotels, and attractions with U.S. News Travel. Compare destinations, read reviews, and get travel advice.

  17. 20 Largest Travel Companies In The World

    As one of the top travel agencies in the world, it owns and operates various brands including Expedia, Hotels.com, CarRentals.com, Vrbo, Travelocity, Trivago, Orbitz, Ebookers, CheapTickets, and ...

  18. Press Releases :: Travel + Leisure Co. (TNL)

    Oct 27, 2021 6:30am EDT. Travel + Leisure Co. Reports Third Quarter 2021 Results and Increases Full Year 2021 Adjusted EBITDA Guidance.

  19. Vacations, US Tour Companies, and Guided Travel

    Call us toll free at 800.340.5158. Request A Call Back. Talk To An Expert. Collette is more than just a travel company. Collette vacation tours are one-of-a-kind. Visit us and discover our collection of amazing travel destinations.

  20. The Fast-Growing Small Travel Brands That Weathered Lockdowns

    Many analysts expect the travel sector to turn to tech experts in the coming year. DataArt, which has 5,000 workers, had a growth rate of 80 percent in the three years through 2020. Its travel ...

  21. Visitors to Singapore Can Use Automated Lanes to Speed Up Travel

    Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world

  22. Credit Cards Are Smarter: Better Fraud Detection, No Travel Alerts

    How banks are using huge amounts of data to separate legitimate purchases from scams In mid-March, a scammer in California tried to buy $150 worth of Wingstop using my debit card. Aside from being ...

  23. Chinese state-backed company to launch space tourism flights by 2028

    BEIJING (Reuters) - Chinese commercial space company CAS Space announced its "space tourism vehicle" will first fly in 2027 and travel to the edge of space in 2028, state media reported on Friday.

  24. Hydrogen-powered aircraft in development by Australian company AMSL

    An Australian aviation startup on a mission to decarbonise air travel is developing a battery that could power a small aircraft to travel 1,000 km using hydrogen, and it already has a customer ...

  25. Elektrostal

    Major companies include: Elektrostal metallurgical factory; Elektrostal chemical-mechanical factory ... Elektrostal is linked by Elektrichka suburban electric trains to Moscow's Kursky Rail Terminal with a travel time of 1 hour and 20 minutes. Long distance buses link Elektrostal to Noginsk, Moscow and other nearby towns. Local public transport ...

  26. Elektrostal

    Elektrostal, city, Moscow oblast (province), western Russia.It lies 36 miles (58 km) east of Moscow city. The name, meaning "electric steel," derives from the high-quality-steel industry established there soon after the October Revolution in 1917. During World War II, parts of the heavy-machine-building industry were relocated there from Ukraine, and Elektrostal is now a centre for the ...

  27. Visit Elektrostal: 2024 Travel Guide for Elektrostal, Moscow Oblast

    Cities near Elektrostal. Places of interest. Pavlovskiy Posad Noginsk. Travel guide resource for your visit to Elektrostal. Discover the best of Elektrostal so you can plan your trip right.

  28. New & Custom Home Builders in Elektrostal'

    Custom house building companies also obtain the necessary permits. Good new home builders in Elektrostal', Moscow Oblast, Russia have skills that go far beyond construction — he or she must supervise subcontractors and artisans; keep tabs on local zoning regulations, building codes and other legalities; inspect work for problems along the way ...