Actionable news
0
All posts from Actionable news
Actionable news in LOGM: LogMein, Inc.,

Marriott, Holiday Inn Dip As On-Demand Economy Claims Next Victim -ICYMI Tues.

The Uber Economy, the 'Netflixization' (NFLX) of the world and the rise of the on-demand consumer has taken the world by storm and disrupted every industry from car ownership to retail to short-term rentals.

The affects were not lost today, either, as InterContinental Hotels Group plc (IHG) shares fell the most in more than 10 months after the Holiday Inn owner reported slower-than-expected second-quarter revenue thanks in part to a decline in business travel. Shares in Marriott International Inc (MAR) , the world's biggest hotel chain, were also under pressure Tuesday, trading lower after the group trimmed its full-year forecast for North American revenue per available room (revPar) growth.

There are two big takeaways from the struggles of the hotel industry. One is that on-demand booking sites like Expedia and Priceline are doing very well as consumers search for low-cost deals (Priceline Group Inc. (PCLN) , owner of KAYAK, Rentalcars.com and OpenTable Inc., is up more than 40% year-to-date) all the while private companies such Airbnb continue to thrive as well. The other is that collaboration tools like Go-To Meeting-now owned by LogMeIn Inc. (LOGM) and Alphabet Inc.'s (GOOGL) Google docs are continuing to make the 6-hour, $500 per day stipend business trip a thing of the past. That said, with Priceline itself reducing guidance for the second half of 2017, even it...


More