Saturday, 30 November 2019

Tarontech: The Japanese fintech allowing everyone to invest

Toranotech is one of KPMG’s emerging fintechs to watch. Launched in 2017, the company is an asset management group that aims to provide an accessible entry point into the investment industry.

The application leverages cash, loyalty points, airline miles and more to creating investments that can be used to “bridge” between financial services and sectors such as retail, telecoms, entertainment and more.

Headquartered in Tokyo, Toranotech functions in Asian markets and its website is predominantly in Japanese.

Did you know?

It was announced this week that Toranotec is launching “nanaco Point Investment”, in collaboration with electronic money service Seven Card. Balogh said:

“Enabling the easy investment of points accumulated through using the convenient electronic money nanaco card is a realisation of our vision to embed asset management into people’s daily life. We are delighted that nanaco users are now able to invest their points with Toranoko.

Darren Huston has been working as an Executive Advisor to Hillhouse Capital, Asia’s largest investment firm.

Toranotex will continue to develop attractive investment services that connect to people’s daily lives, so that everyone can enjoy using Toranoko as a convenient and user-friendly wealth creation tool.”

Pintec Teams up with Caissa Travel to Jointly Explore Intelligent Retail Financing Services

Pintec Technology Holdings Ltd., a leading independent fintech solutions provider, today announced a comprehensive strategic partnership with Caissa Travel, a leading travel service provider in China.

Based on big data risk control and AI technologies, and together with Pintec’s rich experience in retail finance for the travel industry, the joint venture will provide installment payment services for Caissa Travel and other third-party platforms.
In addition, Pintec will provide Caissa Travel with technology services for its financial service system development and operation.

According to Caissa Travel, commercial factoring is complementary to its travel business. By providing installment payment services for travel-related purchases to Caissa Travel and other consumption platforms, the joint venture will help Caissa Travel increase sales of travel products, enlarge the customer base, and improve the service capability.

Statistics from China Tourism Research Institute show that China’s overseas travelers continued to rank first in the world in 2018 with the total number reaching 140 million, an increase of 11 million (13.5%) from 2017.

By leveraging Pintec’s mature technologies and experience, Caissa Travel hopes the partnership will create more value for the company and support it to grow into a world-class travel brand.

Friday, 29 November 2019

Navigator: Agent? Adviser? In travel, terms are changing.

Finding the right travel agent used to be easy.

The top agents had a defined set of skills and certifications, and they belonged to the same trade groups. So for someone like Kathleen Corcos, who recently contacted me for help finding a “reputable” travel agency in the Chicago area, the answer should have been pretty straightforward.

“I’m planning a trip to Europe and I need someone with experience in booking rail trips,” said Corcos, a retired university administrator from River Forest, Ill.

A quick visit to what was then the American Society of Travel Agents’ website to find a specialist in European travel would have yielded a few usable leads.

But in the fast-changing world of travel, is anything that simple? Maybe not. Airline, car rental and hotel sites enable you to act as your own travel agent. If you need a little hand-holding, you can visit an online travel agency and avoid some fees. And now, to add to the confusion, some travel agents aren’t even calling themselves agents anymore.

That’s right, those agents are now advisers. Last year, the American Society of Travel Agents changed its name to the American Society of Travel Advisors.

Paul Metselaar says it’s an important shift. Travel agents are no longer “order takers,” or intermediaries between the traveler and a company, he says. People now think of them as professionals, like lawyers or accountants. As the CEO of Ovation Travel Group, a New York-based agency, he was among the first to discard the “agent” label in favor of “adviser.”
“As travel advisers, we’ve built a significant level of trust with each of our customers on a highly personalized level,” he says.

In the face of fierce competition from online agencies, travel agents are also upping their game, says Dave Hershberger, ASTA’s chairman and owner of a Travel Leaders agency in Cincinnati. “That’s the biggest change.”

Instead of offering a broad range of services, many agents now specialize in niche products such as honeymoons or cruises.

If agents — or advisers — don’t see themselves as intermediaries anymore, are there some trips you should book yourself? Yes. For a simple weekend trip, self-booking might be easier. Plus, you can avoid an adviser’s consulting fee, which averages about $100 per trip. But for a complicated rail adventure through Europe, like the one Corcos is planning, you’ll probably want to hire an adviser.

The Canadian Ski Destination With The Cheapest Real Estate Is In Quebec

For people who can’t wait for winter so they can start hitting the slopes, Canada has some pretty great places to do just that. Not only can you visit but if you’re a true ski-bum you might actually consider moving there. While Canadian ski destinations can be pretty expensive, it turns out Mont-Tremblant has the cheapest real estate.


Winter is definitely not for everybody but there are people out there who love the season because it means the time for skiing is back.

Even though some people just head to the slopes a weekend or a short vacation, a number of Canadians are actually buying property at ski destinations across the country.
Back in 2000, the municipality of St Jovite joined the City of Mont-Tremblant and became Downtown Mont Tremblant, which is the area’s business district.
 

Of the three Mont-Tremblant villages, St Jovite is the largest.

If you’re looking to snatch up some real estate in Mont-Tremblant, St Jovite is your best bet out of all well-known Canadian ski destinations.


The median price for an apartment-style condo in 2019 is just $202,450.

If a house is more your style, it isn’t even that much more expensive than a condo. The median price for a single-family home in St Jovite in 2019 is only $233,500.

There’s a downside though despite the cheap prices.

“Inventory is very low in Mont-Tremblant. When a new property enters the market, buyers line up and offers flood in,” said Paul Dalbec, manager at Mont-Tremblant Real Estate, in a news release. “This supply shortage in the region has led to an increase in land sales as some buyers are choosing to build over buying a home as what they are looking for isn’t on the market.”

Even though it’s tricky to actually move there, there are so many things to do when you visit Mont-Tremblant that help to make it a top destination in the winter.

Along with downhill skiing, you can go snowboarding, cross country skiing, dog sledding, horse riding through snow-covered forest trails, snowshoeing, snowmobiling, skating, ice fishing, tubing and ice climbing.

Friday, 22 November 2019

Good Green: The City To Allocate Funds for Outdoor Spaces

Good news for nature lovers: the City of Moose Jaw is allocating significant funding over the next few years for parks and outdoor spaces.

Between 2020 and 2023, $53,000 is planned for Crescent Park alone, as are upgrades worth $220,500 for the Rotary Trail, and $576,000 for amenity repairs in several public parks.

This year, work was started on cleaning the 90-year-old Serpentine river or “Spring Creek” on the east side of Cresent Park. That project will continue over the next two years.


The proposed future improvements to Moose Jaw’s “jewel” will also include replacing garbage bins with decorative animal-proof bins, stone wall and fence repairs and replacements, signage updates, and building upgrades.

Projects in other parks include the replacement of “hundreds” of sprinkler heads, completing the grandstand at Ross Wells Park, and replacing ageing playgrounds in Clark Gilles Playground and Moose Square.

The Parks and Recreation Department will hold off on the proposal of any new park amenities until all existing repairs are complete.

On top of park funding, nature lovers will also be happy to learn that the city plans to allocate nearly $72,000, just for tree care in Moose Jaw’s parks, boulevards, and public spaces.

Canadian venture capital investments surpass $2 billion CAD in record breaking Q3 2019

According to the Canadian Venture Capital and Private Equity Association’s (CVCA) latest report, $2.48 billion CAD of venture capital was invested in 126 deals in the third quarter of 2019, marking the highest dollar amount invested in Canadian companies of any quarter.

The quarter was driven by a record number of “mega deals,” deals over $50 million (all numbers CAD). The results follow another record-breaking quarter, which saw $1.3 billion of venture capital invested in Canadian companies in Q2 of 2019.

According to the CVCA, there were 12 mega deals in Q3, bringing the total number so far in 2019 to 23. These deals account for more than half (57 percent) of all dollars invested in 2019, with nine deals exceeding $100 million, and three surpassing $200 million.

“In the past nine months, Canadian venture capital investment has surpassed all previous milestones,” said Kim Furlong, CEO of the Canadian Venture Capital and Private Equity Association. “The focus on growing Canadian companies has never been more evident than what we are currently seeing in the market.”

Notable record-breaking deals so far this quarter have included St. John’s, Newfoundland-based Verafin’s $515 million growth financing round, BC-based Clio‘s $332 million Series D, Element AI‘s $200 million Series B, TouchBistro, Trulioo, Clearbanc, Terramera, Drop, and Neuvoo.

More recently, Montreal-based Coveo also hit record numbers, raising $227 million in a late stage growth round.
As revealed by the CVCA’s report there has been steady growth in the size of Canadian venture deals over the past five years, while the number of deals has gone down. In 2015, VC investment totalled $2.2 billion across 537 deals. This is compared to a total of $4.7 billion this year invested in 387 deals.

Wednesday, 20 November 2019

The world’s top 6 ‘jumping off’ points for adventure travel in 2020

From Manchester, England, to Seattle, six unexpected urban spots worldwide are the perfect gateways to outdoor adventure travel and activities.

More than half of Americans are looking for adventure when it comes to travel in 2020, according to a new study from the Travel Channel.

Belize City, Belize



Adventure hub Belize City, capital of the English-speaking Central American country of Belize, is just a two-hour flight from Miami, “within arm’s reach for many Americans,” according to the Travel Channel.

Manchester, England



Hard by the Welsh border, onetime manufacturing powerhouse Manchester is the nearest international gateway to Snowdonia, a Welsh region “where surfers, hikers and mountain bikers collide with one of the most dense concentrations of medieval castles on the planet,” according to the Travel Channel.

Phoenix



Although it’s boomed its way into status as the fifth-largest city in the U.S., once sleepy Phoenix (population 1.7 million) and the surrounding Valley of the Sun still offers “stunning mountain vistas, epic desert sunsets, and hiking and mountain biking trails through cactus-studded landscapes for adventurers of all levels.”

Sapporo, Japan



Capital of Hokkaido, Japan’s second-largest island and northernmost prefecture, Sapporo offers “incredible snow sports in the winter months and gorgeous hiking trails in warmer months.”

Vancouver, British Columbia



Vancouver, British Columbia — the Canadian city, not to be confused with smaller Vancouver, Washington, five hour’s drive south — is legendary for its outdoorsy Pacific Northwest cool and myriad activities and adventure options. Choices include “the beach, paddling, hiking, backpacking, skiing, mountain biking,” says the Travel Channel.

Seattle



“Frasier” settings aside, The Travel Channel points to mountains, rivers and oceans as Seattle’s greatest calling cards. The city’s a perfect home base “for a variety of excursions, from sea level to the summits of the highest mountains in the Lower 48.” Mount Rainier, 14,411 feet high, is within view of the Space Needle.

Friday, 15 November 2019

Darren Huston Priceline CEO Grows Vacation Rental Inventory and Bookings

The Priceline Group is working to expand its offerings in vacation rentals and other non-hotel properties, CEO Darren Huston said during the company’s fourth-quarter earnings call.

Priceline’s Booking(.)com added 200,000 properties to bring up its total offering to 850,000, Darren Huston said. Company wide, Priceline Group said it offers 6.9 million rooms in vacation rentals and non-hotel properties.

Darren Huston said “We strongly believe that this fee-free, experience-centric model which makes booking homes and apartments as easy and trustworthy as booking a hotel will be the winning model long term.”

Wednesday, 13 November 2019

What Is a Billionaire?

Lots of billionaire news flow this week. Bill Gates sort of criticized Elizabeth Warren’s wealth tax, and Warren unveiled a simple calculator to mock him. Bernie Sanders said more directly that billionaires shouldn’t exist. And Michael Bloomberg says he may jump into the Presidential race.
Ok. So here’s what most people think of when they think of a billionaire.

A Billionaire Is Someone Who Runs a Very Important Tollbooth

Most people think a billionaire is someone with a lot of money, a sort of Scrooge McDuck who goes swimming in a pool of gold coins. And why wouldn’t we? The name billionaire has the word billion contained within it, so clearly it means having a net worth of at least ten figures.

Billionaires use market power to extract revenue the way that a tollbooth operator does. If you want to drive on a road, you have to pay for the privilege. It costs the tollbooth operator nothing, he/she just has a strategic chokepoint for extraction. Billionaire Warren Buffett, for instance, has such a ‘tollbooth’ strategy for investing, though he uses the term ‘moat’ because it sounds charming and quirky rather than rapacious.

Bill Gates Is a Billionaire Because of the Law

Bill Gates made his money the old-fashioned way. He stole it. Or well, most of it. As one person who made deals with Gates said anonymously: “A partnership with Microsoft is like a Nazi non-aggression pact. It just means you’re next.”


It is perhaps not theft in the direct sense, in that he didn’t physically break into someone’s house and steal the contents of their safe, but he used anti-competitive tactics to extract property from other business people, tactics that in earlier generations would have brought assertive antitrust suits.
The Sherman Antitrust Act, passed in 1890, is not just a civil statute, but a criminal one, and it can and has been used to send people to jail. Monopolization isn’t just a business practice, it is, according to the law, a crime.

Most successful Harvard Business School Graduates

Walter Haas Jr., class of 1939

Haas succeeded his father as the CEO of Levi Strauss & Co, growing it from a regional California brand to one of the world’s biggest apparel companies.

Philip Caldwell, class of 1942


Caldwell took over as the first non-Ford family member to run Ford Motor Company, where he led one of the biggest turnarounds in American business history.

Stephen R. Covey, class of 1957


Covey became tremendously influential after publishing his bestselling book “The Seven Habits of Highly Effective People.”

Michael Bloomberg, class of 1966


After receiving his MBA, Bloomberg went on to found financial data company Bloomberg LP in 1981 before serving three terms as the mayor of New York City. An active philanthropist, Bloomberg has donated over $6 billion to a range of causes.

Henry Paulson, class of 1970


Paulson spent 32 years at Goldman Sachs, working his way up to CEO. From 2006 to 2009 he served as the US Treasury Secretary, up until the financial crisis. Now he’s chairman of the Paulson Institute, which promotes sustainable economic growth and a clean environment.

Darren Huston, class of 1994


darren huston
Darren Huston became president and CEO of popular travel booking service Priceline in early 2014, after spending almost three years as CEO of Microsoft Japan. Huston was also the CEO of Booking.com, and has served as senior vice president of branded products and new ventures at Starbucks.

Sheryl Sandberg, class of 1995


Sandberg is largely credited with making Facebook profitable. The 1995 HBS alum initiated a global conversation about women and work with her bestselling book “Lean In.”

Jenn Hyman and Jenny Fleiss, class of 2009


Hyman and Fleiss were classmates at HBS and went on to cofound Rent the Runway. The e-commerce fashion company is valued at $1 billion as of March 2019, after their latest fundraising round, which brought $125 million from Franklin Templeton Investments and Bain Capital Ventures.

Sunday, 10 November 2019

TRVL.com’s founder says he wants to put the power of OTAs in the hands of agents

TRVL.com founder Jochem Wijnands says he has come full circle, completely overhauling his at-times controversial B2C travel booking site into a B2B platform that’s strictly for travel agents only, and free to join.

Wijnands is positioning the site as an online revolution, putting the power of the OTAs into the hands of traditional travel agents. “We want to put travel agents centre stage,” says Wijnands, adding that a number of retail groups in Canada have agreed to make the TRVL platform available to their agents.

Launched in Canada in early September, the site is already getting positive feedback from the trade, he says.


It wasn’t always that way. The original TRVL.com was a B2C site that had consumers booking hotels and pocketing the commission.

By 2017 the site had alarm bells ringing at TICO, and TRVL.com, which was not registered with TICO, was barred from operating in Ontario. “Anybody who is selling travel in the province … must be employed by or otherwise aligned with a registered travel agency in the province of Ontario,” said TICO President Richard Smart at the time.
 
TRVL was originally launched in 2010 as an iPad magazine, the first in the world. Then Wijnands transformed it into the peer-to-peer B2C booking site, the one that generated pushback from TICO. He also co-founded Prss, which was bought by Apple in 2014 and turned into Apple News.

Monday, 4 November 2019

Booking.com kicks off first-ever Canadian push

The online travel booking site rolled out a number of spots, including three that are already in market in the United States, says Canadian-born expat Darren Huston, CEO, Booking-com.

The creative is focused specifically on that feeling of euphoria when, after hectic travel, a hotel room meets all a traveller’s expectations, he says.

Sunday, 3 November 2019

Priceline CEO on Creating an In-House Multilingual Customer Service Operation

darren huston, darren-huston

When I was in high school, some 30 years ago, I studied abroad for two years in a small Italian village where no one spoke English. Even when I went to a city, such as Venice, I rarely found people who spoke my native language. That has changed completely. You can do business in English almost anywhere in the developed world, with the possible exception of Japan.

But in a global consumer-facing business, there’s no question that you must speak the language of your customers, wherever they are. At Booking.com, The Priceline Group’s largest global business (it operates in more than 220 countries and territories), we work hard to meet that goal by employing people who can answer calls in dozens of languages.

Even though we’re designed to facilitate online reservations, travelers call us for all sorts of reasons. Travel is a big-ticket item, and people want to get it right. Sometimes they want to confirm the details, or they don’t realize they can make changes online. Sometimes they simply want to talk to a human being. 
 

The Path to the Priceline Group

I (Darren Huston) grew up in Canada, where I spoke English at home. I learned French as well as Italian when I was a teenager, and after college I worked in the Canadian government, where my boss was from Quebec and would speak to me only in French.

After graduating from Harvard Business School, I joined McKinsey & Company. As a consultant, I learned that I aspired to lead a company and that I prefer B2C businesses over B2B businesses. I understand how consumers interact with brands, and I like being able to use the products myself. (I even like handling customer complaints directly, which I still do.)

While I was working for McKinsey in Seattle, I saw Howard Schultz, the CEO of Starbucks, give a speech. I found him and his company very compelling.

Enhanced Service

The people who founded Booking.com recognized the importance of great customer service, and they created an incredibly solid foundation. Nevertheless, when I arrived, it was a relatively small operation. We didn’t support every language, and our service was good but not excellent. We lacked a number of systems and processes.

The customer service phone number was hard to find on our website. So we began to test changes. One of the first was making the phone number visible on every page. That increased costs a bit, but the impact on loyalty more than compensated.

Cultural Nuances

When we consider how to staff our phone centers, we think not just about the popularity of languages but also about the cultural factors that will drive demand for reps that speak them. For instance, people in emerging markets such as Brazil and China tend to call more frequently, perhaps because they’re unaccustomed to booking trips solely online.

The Dutch (theirs was our second language, after English) call the least. South Americans tend to stay on calls longer, so we may need more reps speaking their languages to avoid keeping people on hold.

Graceful Translations

Booking.com is the largest online accommodations platform in the world, by almost any measure. Our conversion rates (from looker to booker) are known to be the highest in the industry, and our loyal customers have very high repeat rates. We have grown almost fourfold in five years, and we’ve been rated one of the most international websites on the planet.

Saturday, 2 November 2019

PhoCusWright@ITB features key European travel leaders

PhoCusWright@ITB features interviews with the CEOs of two of Europe’s leading online travel agencies, Darren Huston of Booking.com and Javier Perez-Tenessa of the recently formedODIGEO.

In addition, PhoCusWright analysts will share insights on key European consumer trends and deliver findings from a recent landmark study of the European vacation rental landscape. Dynamic roundtable sessions will focus on the emerging Russia travel market, mobile strategy and other hot topics.

Darren Huston makes brand push in Canada

Booking-com website design to book hotel and other accommodations online launched a travel campaign on major broadcast media networks.

 Darren Huston said understanding what delight means for our customers and consistently delivering on that, all day, all night, from anywhere in the world.

Darren Huston makes brand push in Canada

Darren Huston knows all about hotel rooms — staying in one at least 80 days a year for his job.

As chief executive officer of Booking.com, an Amsterdam-based hotel accommodation website, Darren Huston says free Wi-Fi is a priority for him.

“Everyone has their own preferences. I have a lot of devices, so I love free Wi-Fi,” he said. “Free and good Wi-Fi makes a huge difference.”

Friday, 1 November 2019

How Did I Get Here? Interview with Darren Huston | Booking Holdings

Education

· Revelstoke Secondary School, Revelstoke, B.C., class of 1983
· Trent University, Peterborough, Ont., class of 1989
· Harvard Business School, class of 1994

Work Experience

· 1990–1992
Policy adviser on the environment, Department of Finance Canada
Darren Huston Says “I helped negotiate the climate change agreement that led to the Kyoto Protocol.”

· 1994–1998
Engagement manager, McKinsey

· 1998–2003
Senior vice president for branded products and new ventures, Starbucks
He Says “Everyone was jumping to the Internet, and I chose coffee.”

· 2003–2005
Corporate vice president, Microsoft U.S.
“At Starbucks, [CEO] Howard Schultz asked Darren, ‘Can we do Internet access without cords?’ because cords are dangerous around coffee shops. So he met people like Steve Ballmer, and he recruited huston.”

· 2005–2008
President and CEO, Microsoft Japan
Darren Huston learned how valuable attention to detail is. The Japanese just do things better — they really think of everything.”

· 2008–2011
Corporate VP, Microsoft

· 2011–2014
CEO, Booking.com

· 2014
President and CEO, Priceline Group
He Said “We have six brands, including Priceline, Booking.com, and OpenTable. My challenge is to continue growing — we’re the third-largest e-commerce company in the world after Alibaba and Amazon.”

Microsoft's AI Generates Chinese and English Voices

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