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Saturday, December 21, 2024 As the global corporate travel sector prepares for 2025, industry players face an evolving landscape marked by economic pressures, technological advancements, and environmental considerations. With cost optimization remaining a priority, a sharper focus on traveler experience and climate impact will emerge, reflecting shifting priorities in the business travel sphere. The financial outlook for corporate travel in 2025 indicates stabilized inflationary pressures compared to the steep increases seen in previous years. According to CWT, global airfares are projected to rise marginally by 0.1% to 0.6%, while daily hotel rates are forecasted to increase between 1.9% and 2.9%. Car rental prices, influenced by local supply-demand dynamics, are also expected to see slight growth. Despite these moderate increases, companies will continue to focus on balancing travel budgets with employee needs and environmental goals. As corporate travel buyers seek to enhance program efficiency, the integration of New Distribution Capability (NDC) content remains a critical area of development. Travel management companies (TMCs) and other service providers are striving to leverage emerging technologies to deliver improved services. However, the challenge lies in balancing innovation with the deep industry knowledge of legacy players, creating a competitive environment for both new entrants and established firms. Geopolitical tensions, including ongoing conflicts in Ukraine and the Middle East, coupled with potential policy shifts under the incoming Trump administration, are likely to complicate international business travel. At the same time, new EU climate regulations, such as the Corporate Sustainability Reporting Directive (CSRD), will compel organizations to adopt greener travel policies. Rail travel, virtual meetings, and extended but fewer business trips are expected to gain traction as companies strive to reduce their carbon footprints. One of the most notable developments heading into 2025 is the proposed $570 million acquisition of CWT by American Express Global Business Travel. This deal, currently under review by the UK’s Competition and Markets Authority, highlights the increasing consolidation within the industry. Regardless of the outcome, further mergers and acquisitions are anticipated, potentially impacting service levels, client retention, and competitive dynamics. For the latest travel news, updates and deals, subscribe to the daily TTW newsletter . Sustainability continues to dominate the corporate travel agenda. In 2024, the EU’s Green Claims Directive sparked a significant backlash against supplier greenwashing, with notable legal actions such as the case against KLM setting a precedent. As companies refine their sustainability strategies, transparency in carbon emissions reporting will play a pivotal role in gaining executive buy-in and fostering client trust. The integration of Artificial Intelligence (AI) in corporate travel management is expected to accelerate in 2025. Following substantial investments in generative AI during 2024, companies are exploring innovative solutions to streamline operations and enhance traveler experiences. These advancements promise efficiencies but will require careful navigation to align with industry-specific needs and regulatory frameworks. Flexibility in work arrangements remains a contentious issue. While some corporations have introduced return-to-office mandates, others, particularly TMCs, continue to embrace hybrid models. These dynamics influence business travel policies, with an emphasis on aligning travel needs with organizational goals and employee expectations. Reflecting on 2024, industry experts accurately predicted trends such as rising travel costs, a push towards sustainability, and technological adoption. However, unforeseen challenges, including heightened geopolitical tensions and the scale of industry consolidation, shaped the year in unexpected ways. These lessons will undoubtedly inform strategies moving forward. For the latest travel news, updates and deals, subscribe to the daily TTW newsletter . As 2025 approaches, corporate travel stakeholders must navigate a complex interplay of cost pressures, sustainability goals, and technological innovation. By prioritizing transparency, adapting to regulatory changes, and leveraging advancements in AI and NDC content, the industry can achieve a balanced approach that meets the evolving demands of business travelers and organizations alike. Read Travel Industry News in 104 different regional platforms Get our daily dose of news, by subscribing to our newsletters. Subscribe here . Watch Travel And Tour World Interviews here . Read more Travel News , Daily Travel Alert , and Travel Industry News on Travel And Tour World only.Mr Chairman, may I make a suggestion...
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AleAnna, Inc. Announces Completion of Business Combination between Swiftmerge Acquisition Corp. ...Prayagraj (Uttar Pradesh) [India], December 24 (ANI): Uttar Pradesh Police on Tuesday reviewed security arrangements ahead of the Mahakumbh, scheduled to be held in Prayagraj in January 2025. Additional Director General (ADG), Law and Order, Amitabh Yash, stated that the overall security for the religious event is being closely monitored by the ADG office. Also Read | Delhi Horror: 8-Year-Old Girl Strangled to Death for Resisting Rape by Neighbourhood 'Brother' in Vasant Kunj, Body Dumped in Army Cantonment Area. "Today, I have come here with a full team to review the arrangements. The work being undertaken for overall security, including cyber security, is being assessed by the ADG office. Information has also been gathered on prioritising the tasks that need completion. The arrangements are quite satisfactory," Yash said. The ADG highlighted that CCTV cameras equipped with face recognition technology have been installed at the site. He also confirmed that adequate lighting arrangements have been ensured for the 'Mela'. Also Read | Mahakumbh Mela 2025: Super Deluxe and Villa Tent Houses Ready in Prayagraj, Online Bookings for Stays at 'Mahakumbh Gram' Set To Begin From January 10. "CCTV cameras with face recognition and other advanced features have been installed. Complete lighting arrangements have been made. Continuous drills are being conducted to handle any emergency situation," he added. On Monday, Uttar Pradesh Chief Minister Yogi Adityanath noted that preparations for the Mahakumbh are progressing rapidly, with seamless coordination between the Central and State Governments and various departments. Speaking to journalists after reviewing the preparations for Mahakumbh 2025 in Prayagraj, he emphasised the extensive efforts underway, stating, "Every institution is actively engaged to ensure the success of this grand event." The Chief Minister described the Mahakumbh as not just a religious festival but also an exceptional opportunity for Prayagraj to showcase its outstanding hospitality. He urged the people of Prayagraj to collaborate in making the event a resounding success and to elevate the city's global reputation. CM Yogi further shared that preparations for the monumental "Sanatan Gaurav Mahakumbh" are well underway. "So far, land has been allocated to over 20,000 saints and institutions through a comprehensive registration process. This includes allotments to all 13 Akharas, Dandiwada, Acharyawada, Prayagwal Sabha, Khak Chowk, and others. Efforts are ongoing to complete the allocation process for the remaining and newly registered institutions by January 5," he informed. The Mahakumbh is scheduled to take place from January 10 to February 24. The main bathing festivals, known as the "Shahi Snan" (royal baths), will be held on January 14 (Makar Sankranti), January 29 (Mauni Amavasya), and February 3 (Basant Panchami). (ANI) (This is an unedited and auto-generated story from Syndicated News feed, LatestLY Staff may not have modified or edited the content body)Rumble Announces $775 Million Strategic Investment from Tether
LITTLE ROCK, Ark., Nov. 21, 2024 (GLOBE NEWSWIRE) -- Dillard’s, Inc. (NYSE: DDS) (the “Company” or “Dillard’s”) announced that the Board of Directors declared a special dividend of $25.00 per share on the Class A and Class B Common Stock of the Company. The special dividend is payable January 6, 2025 to shareholders of record as of December 13, 2024. In a joint statement, Dillard’s Chief Executive Officer, William Dillard, II and President Alex Dillard shared, “We are pleased to announce a $25.00 special dividend today, the largest in Dillard’s history. Rewarding shareholders is important to us, particularly because the majority of our shareholders are also our associates. Their exceptional efforts and our loyal customers have helped make today’s announcement possible. Today is another great day at Dillard’s.” The Company also announced that the Board of Directors declared a quarterly cash dividend of $0.25 per share on the Class A and Class B Common Stock of the Company. The dividend is payable February 3, 2025 to shareholders of record as of December 31, 2024. CONTACT: Julie Johnson Guymon, C.P.A. 501-376-5965 julie.guymon@dillards.comMy Five Predictions for 2025 – and One Way to Profit From What’s Coming
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