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Travel TechLab by HBX Group is the innovation lab of HBX Group, powered by Wayra. The lab seeks to constantly re-imagine the world of travel by finding new ways to help our customers succeed, and to enable our business partners to achieve their goals. As part of our ongoing mission to co-innovate with startup partners to deliver impactful, customer-focused experiences, products and platforms which reshape the travel industry, the Lab hosted a Pitch Day Challenge. Startups from around the world were invited to showcase the forward-looking ways in which their products and services are providing solutions to real-life challenges currently being faced within the industry.   In this ‘Spotlight On’ blog series, we’ll be shining a light on each of the four start-ups that were shortlisted during this Pitch Day Challenge, to bring their work to the forefront of the travel industry’s focus. This first ‘Spotlight On’ will explore the journey of Smartvel, a B2B SaaS company working within the travel industry to improve customer experience and SEO through the use of AI-powered digital solutions and high-quality content that resonates with their clients’ audiences, to ultimately drive increased sales and brand awareness.   We spoke to founders Iñigo Valenzuela and Esperanza Zarauz about the company, their mission, and the solutions they’re bringing to the industry.   Can you describe the genesis of Smartvel as a startup, including the idea that sparked its creation? Smartvel was founded by Iñigo Valenzuela and Esperanza Zarauz. Both with C-level experience, we thought it was the right time to start our own adventure. Iñigo worked for many years in companies such as Marsans and CWT, and Esperanza in the media industry at Prisa and WPP. The beginnings were a rollercoaster, with ups and downs that involved discovering just how difficult it is to create a B2B solution in the travel industry, whilst always looking for technological advantages that would make our company stand out from the rest.   We started Smartvel because we wanted to start our own company, and we thought it was the perfect dynamic for both of us. The genesis of the idea was that, as an industry, we had not solved the problem of how to properly inform the end traveller and provide real consulting added value in one part of the travel journey: information about the destination.   Companies were focused on their own products instead of adding value in this area. We thought that inspiration drives sales and value, and that there was an opportunity to build a global trusted solution for that.   Can you articulate Smartvel’s mission as a company and its long-term vision, outlining the problems it seeks to solve, and the opportunities it presents? Our mission is to improve our clients' customer experience and SEO through AI-powered digital solutions and meaningful content, resulting in increased sales and brand awareness across the entire customer journey.   We’re present at the top of the funnel, or the ‘inspiration’ phase; in the pre-departure phase, or in pre-departure emails; and also at the destination, with different solutions for each interaction.   We offer the unique blend of a technology company and a content company, using technology to create content in a more targeted and efficient way. But at the same time, we have a relevant team of copywriters who create content at scale using technology as a critical tool.   How does Smartvel fit into the larger industry landscape, and what is its growth potential? We want to be the reference in the industry when it comes to travel content, understood as information for the traveller. The market is huge, and we are very happy to partner with Hotelbeds as we think it is the perfect fit for us to support our growth in different verticals like hotels, travel agencies and DMOs.   We have customers on every continent, although we have been focusing more on the airline industry lately, so we think that hotels offer the best opportunity for global growth.   What is your unique value proposition, and how does it set you apart from the competition? We offer the best content with a mature travel tech company that provides customisation in content and products, detail, expertise, and a range of solutions that fit with the overall strategy of the industry.   Tell us about the innovative solutions that Smartvel offers! First, there are our Destination Content solutions, with everything there is to do in a destination, with POIs, restaurants, events like music, sports and culture, and any layer of content that our customers want to integrate, such as tours and activities, their own products, et cetera. Second, we have our ‘EntryDocs’ solution, where we provide all the information needed to make a trip from A to B, taking into account nationality and residence.  We provide health documents and visa requirements to take the stress out of travelling, and use technology to detect changes in these requirements. We read the official websites every hour to see if anything has changed.   Who is your target audience, and what are the specific needs or pain points that your offerings address? As a B2B SaaS company in the travel industry, we work with all players, from the suppliers of the final product, such as airlines, hotels, car rentals; to the classic intermediaries, like travel agencies, tour operators and bed banks; and all the different technology players around them, such as GDSs and tech providers. We also work with DMOs and other segments such as insurance or F&B.   Tell us about Smartvel’s accomplishments and milestones. What are your current significant achievements to date? If we had to name our most important milestones, we would be remiss not to talk about how we achieved a positive EBITDA and operating cash flow, which is very important for any company – but for a startup, this is the difference between ‘life’ and ‘death’. We have also achieved significant global MkShare in some of our products. For example, with EntryDocs, we’ve reached a total global MkShare of international travellers of 30%.  As a company, we believe one of our biggest achievements is that we have, and continue to maintain, a strong culture in times of uncertainty and change, such as COVID or remote working, where innovation, and product change mindsets are key. That we also have a positive churn figure – which means that upsells from current customers exceed losses of portfolio –  means a healthy portfolio of customers. Another of our biggest achievements is being able to work with some of the most respected and biggest brands in the industry as a relatively small company (50 FTE). We always say that having demanding customers makes us a better company. Not to mention completing our first M&A, by buying a direct competitor!   How do you foster innovation, as a company? Innovation is a challenge for any company, and it is exactly the same for a startup. We have some advantages, especially size and agility, but there are many risks: we can't fail too often to be generous; cash is king and can easily shut down your company; and the trade-off between talent and salary is complex to manage. Our key to success, if you can call it success, has been to look for the best team, create a culture of transparency and excellence, and always look for new opportunities. What was a disruptive solution at a certain moment will become a difficult market over time. The only solution is to generate change, to be really open to it, and to create new solutions together with our customers. We use the classic agile approach, so we are not very original. Of course, we do quarterly reviews of our strategic plan, reviewing and updating the mid- and long-term priorities.   Meet the team at Smartvel Smartvel's directors with Threedot.io team in a strategic session, pictured from left to right : Glenn Morgan (Threedot); Miguel Camacho, CTO, Eric Leopold (Threedot); María Liniers, CCO; Iñigo Valenzuela, CEO; Belén Romero, COO; Esperanza Zarauz, CFO   TRAVELTECH LAB BY HBX Group We explore the intersection of emerging technology and travel, to build innovative products and consumer experiences all whilst engineering solutions that advance HBX Group's innovation agenda, and better the lives of our customers. We’re firm believers that in a collaborative environment, it’s all about exploring new horizons to future-proof our business and drive digital transformation. Learn more about our work here, and visit the Smartvel website to discover more about their offering.

Palma, Spain, 27 November 2023 – This week, the MarketHub Asia by Hotelbeds 2023 event in Bangkok sparked dynamic and in-depth discussions among industry leaders, paving the way for insights into the future trajectory of the tourism sector under the theme “'Where Next?”. Influential figures and top industry leaders delved into crucial topics spanning from data and technology to the profound influence of the workforce. Amidst substantial disruptions in the tourism sector, Hotelbeds reveals essential insights drawn from its flagship event – a narrative poised to substantially shape the industry’s trajectory for years, if not decades, to come: Projected Workforce Expansion The global tourism sector is projected to generate a staggering 110 million new jobs in the coming decade, according to the World Travel & Tourism Council, with the Asia-Pacific region poised to contribute nearly 70% of these opportunities. This surge is attributed to the robust economic expansion in the area and the burgeoning middle-class populations, both factors driving substantial growth within the tourism job market. The Traveller of Tomorrow A growing trend among travel agencies reveals that up to 90% now seek personalised solutions, catering to a rising demand for individualised and seamlessly tailored experiences by travellers. Hotelbeds reports that these end customers are not just after essential services such as insurance and financial provisions; they seek comprehensive travel packages that offer 24/7 customer support and assistance in local languages. Moreover, the wellness tourism sector is experiencing a surge as travellers increasingly prioritise achieving a harmonious internal and external balance in their lives. Simultaneously, addressing environmental impact becomes a primary focus in the tourism sector, driving the prominence of sustainable travel practices. With 70% of travellers anticipating more eco-conscious offerings, the momentum for environmentally-friendly travel continues to intensify. Emotion is the New Brand Standard A significant shift in young consumers' preferences is evident, with approximately 60% of Millennials and Gen Zs prioritising superior services over price, seeking experiences that create lasting memories during their trips, according to data from Skift. This changing sentiment and the accompanying high expectations are driving the need for innovative business models. These models are leveraging the transformative potential of AI within the travel industry, not only optimising developer workflows but also enhancing customer support, managing reputation, and refining accommodation search functionalities. Asia is a tech leader Asia is 10 years ahead when it comes to technology, and consumers are demanding new travel products, including those in the Fintech arena. The audience also heard that it is important to embrace technology, including artificial intelligence and augmented reality, but it’s important to ensure that data quality is high first. “MarketHub Asia assembled trailblazers from the Asia-Pacific region and beyond to explore the future of travel,” said Carlos Munoz, Chief Commercial Officer of HBX Group. “Under the theme ‘Where Next?’, we delved into the future of tourism amidst significant disruptions, unearthing pivotal insights that will chart the industry’s trajectory for years to come. What emerged was a new wave of excitement and optimism for the future. We’re proud that this event is leading the charge towards a truly innovative era in travel.” For more information about MarketHub Asia, please visit the website. ### About Hotelbeds Hotelbeds, part of HBX Group, are global leaders in the TravelTech space, connecting and empowering businesses by facilitating bridges in the ever-changing and expanding travel ecosystem. Our cloud-based technology platforms offer fast and simple access to a global network of travel products, from accommodation to ancillaries and payments, while rich data and intelligence helps to generate demand. By operating exclusively in the B2B arena, we are uniquely placed to drive growth for our partners without competing for the end customer. Our teams of 3000+ experts on the ground provide local expertise and support to boost trading even further, even in the most hard-to-reach spaces. Our unique blend of technology, data and passionate people serve as a catalyst for B2B travel players aiming to unlock their full potential.

The TravelTech Lab by HBX Group is the innovation lab of HBX Group, powered by Wayra, which seeks to constantly re-imagine the world of travel by finding new ways to help our customers succeed, and our business partners achieve their goals.   As part of our ongoing mission to co-innovate with startup partners in order to deliver impactful, customer-focused experiences, products and platforms which reshape the travel industry, earlier this year TravelTech Lab by Hotelbeds hosted a Pitch Day Challenge, where startups from around the world were invited to showcase the myriad, forward-looking ways their products and services are providing solutions to real-life challenges currently being faced within the industry.   In this ‘Spotlight On’ blog series, we’ll be shining the light of attention on each of the start-ups that were shortlisted during this Pitch Day Challenge, to bring their work to the forefront of the travel industry’s focus.   The second in this series, this ‘Spotlight On’ will focus on the development of Grain from its beginning to fully formed start-up, which captured our attention thanks to its embedded cross-currency solution that protects travel platforms and their customers from FX volatility.   We spoke to founders Dor Golan, Michal Beinisch, Aharon Navon and Nir Galon, all entrepreneurs with previous experience at Barclays, Deutsche Bank and other prominent fintech start-ups, to get some insight into their journey, their mission, and how they’re working to bring smarter fintech solutions to the industry.   Can you describe the genesis of the start-up, including the idea that sparked its creation?    The genesis of the startup Grain can be traced back to the challenges posed by the volatile nature of foreign exchange (FX) rates, especially during times of geopolitical conflicts, political instability, and economic downturns. This volatility significantly impacts global transactions, creating a substantial risk of value changes between the initiation of a deal and the completion of its payment.    Recognising the growing need for effective hedging solutions to minimise this financial risk, Grain was conceptualised. The startup's mission is to empower B2B software platforms and marketplaces by providing them with the tools to offer cross-currency hedging at attractive prices. A key feature of Grain's innovation lies in its fully automated risk assessment process, which delivers optimised custom pricing. This approach ensures that businesses can safeguard their transactions against the unpredictability of FX rates, thereby securing their financial stability.   Can you articulate for us Grain’s mission and long-term vision, outlining the problems that it seeks to solve?  Our mission at Grain is to empower businesses with technology and financial solutions that were previously inaccessible to them. We provide newfound financial certainty, ensuring that enterprises can navigate cross-border challenges with confidence. Through the solution of automated hedging tools, we eliminate currency risk efficiently and effectively, catering to businesses of all sizes. As we look ahead, we're committed to pioneering tailored solutions for diverse industries, catering to the unique needs of sectors such as travel, supply chains, e-commerce, and accounting platforms. It was important to us that at Grain, our customers’ journey to financial empowerment is underpinned by innovation and precision.   How does Grain align with the larger industry landscape and what is its potential for growth?   Grain provides comprehensive FX solutions to enhance travel platforms. We understand that within the travel sector, grappling with slim profit margins and elevated cancellation rates is commonplace. In response, Grain presents a pragmatic resolution through its embedded cross-currency framework. One prominent industry practice involves hedging net amounts after accounting for cancellations. However, this strategy often falls short in providing comprehensive financial protection for travel platforms. Herein lies the differentiating factor of Grain – offering holistic hedging across all transactions, cancellations included. Our approach not only fortifies travel platforms against FX risks but extends this safeguard to encompass their clients as well. This dual protective shield allows for the secure locking of currency rates, bolstering business stability for both parties. Moreover, by leveraging Grain's FX proficiency, travel platforms can forego the need for supplementary price markups, fostering a heightened competitive edge. Central to our offering is the Grain FX solution, enhanced by Machine Learning capabilities. This automated technology enables businesses to minimise the operational burden of tailoring, executing and managing  hedging strategies. Grain’s solution fully offloads the entire FX hedging risk away from our customers. Grain provides full visibility of execution prices, via a user friendly dashboard, a transparent and comprehensive view of transaction currency exposure. By revolutionising established norms for travel platforms, Grain envisions a landscape where attainable profitability coexists with mitigated currency fluctuations. Moreover, by addressing the intricacies of cancellations, we ensure that the financial resilience of both travel platforms and clients remains intact.   What is your unique value proposition, and how does it set you apart from the competition?   We differentiate ourselves from our competitors through various key factors which are central to our offering: Hedging 100% of transactions - Conventional practices of hedging net amounts post-cancellations offer limited financial protection for travel platforms. In contrast, Grain provides complete hedging for all transactions, including cancellations, ensuring enhanced risk coverage. Reduced Hedging Costs - Grain's automated platform empowers cost-efficient hedging compared to existing solutions, resulting in lower overall hedging expenses. Localised Currency Charging - By locking in exchange rates at booking time, Grain enables travel platforms to bill end-consumers in their local currency, facilitating ease of transactions. Pricing Optimisation - Leveraging extensive data analysis, Grain's API tailors hedge pricing based on individual customer profiles. This approach, informed by factors like historical currency trends and past cancellations, optimises pricing accuracy. Zero setup costs, no hidden fees - Grain boasts a zero-cost setup and maintains a fee-free subscription model, ensuring transparency and cost-effectiveness from the outset. Charge in local currencies. Get paid in functional currencies - Empowering software platforms and marketplaces, Grain allows them to charge customers in their preferred currency while receiving payments in their functional currency.  Risk-Free Assurance - Grain assumes the role of the principal risk taker, providing transactional rate guarantees for complete risk mitigation.   Tell us about the innovative solutions that Grain offers!   Grain’s Embedded Cross Currency Solution introduces a robust approach to FX risk management tailored for travel platforms. This solution is designed to address the challenges of FX volatility by providing a mechanism for travel platforms and their clients to lock in currency rates. Powered by advanced Machine Learning technology, our solution offers an adaptive approach that considers historical trends and market dynamics. This ensures that travel platforms can implement effective hedging strategies that align with evolving financial landscapes. Moreover, the solution incorporates a valuable side functionality known as Exposure Analysis. This tool offers a dashboard presenting transaction volatility, providing travel platforms with insights to make informed decisions about risk management. The Embedded Cross Currency Solution is a pragmatic response to the complexities of currency fluctuations. By merging automated processes with intelligent analysis, it equips travel platforms with the means to confidently navigate FX volatility, offering stability and control in an unpredictable environment.   Who is your target audience, and what are the specific needs or pain points that your offerings address?     We have several target audiences, all with unique pain points which Grain seeks to resolve with its comprehensive technology and financial solutions.   1. CFOs of Travel Platforms Pain Points: CFOs of travel platforms wrestle with the persistent spectre of financial uncertainty propelled by FX volatility, a challenge compounded by the industry's slender profit margins. The imperative to secure revenue streams amid currency fluctuations remains a top priority. How Our Solution Helps:  Enter our Embedded Cross Currency Solution, equipped with an automated hedging mechanism that empowers CFOs to lock in currency rates. This infusion of stability not only counters risk but amplifies financial assurance in the face of dynamic FX markets. Moreover, our Exposure Analysis tool further fortifies their position by delivering unparalleled transparency into FX volatility across all transactions.   2. Heads of Product Pain Points: Heads of Product grapple with the intricate choreography of optimising user experiences within multifaceted cross-currency transactions. The uphill task lies in orchestrating seamless booking and payment journeys harmonised with diverse currencies. How Our Solution Helps: Our offering, while indirectly assisting Heads of Product, empowers travel platforms to bill end-consumers in local currency through secure, locked-in exchange rates. This augmentation in user-friendliness and clarity significantly enhances the booking process, ensuring positive experiences.   Tell us about Grain’s accomplishments and milestones. What are your current significant achievements to date?   At Grain, our dedication to fintech innovation has earned us a position of distinction. We proudly stand as pioneers in the travel industry, and our journey has been marked by a remarkable achievement.  Out of a competitive pool of over 60 companies, we were selected as the sole fintech startup in the groundbreaking TravelTech Lab by Hotelbeds challenge. This recognition not only validates our unwavering commitment but also emphasises our role as leaders in reshaping the travel industry through cutting-edge fintech solutions. We have forged strong partnerships with renowned global bed banks, empowering them with our embedded FX solution to safeguard both their operations and their clients from FX risk.   Give us some insight into your company culture and brand values. How do you foster innovation, as a company? Our brand values: You Come First - We care about our customers. We are focused on providing value and helping our customers succeed.  You’re in Good Hands - We are experts in our field, we are passionate about what we do, and we are committed to protecting your interests.  We Dare to Do the Right Thing - We challenge the status quo in the pursuit of excellence to always provide the best solutions.  We Get Things Done - We are efficient and effective on our mission to simplify an overly complex world.   A closer look at Grain’s unique solutions: Discover more about Grain’s cross-currency solutions in this quick video. https://www.youtube.com/watch?v=L-CiQ2DTxqc      TRAVELTECH LAB BY HBX Group We explore the intersection of emerging technology and travel, to build innovative products and consumer experiences all whilst engineering solutions that advance Hotelbeds’ innovation agenda, and better the lives of our customers. We’re firm believers that in a collaborative environment, it’s all about exploring new horizons to future-proof our business and drive digital transformation. Learn more about our work here.  

Palma, Spain, 14 November 2023 – As industry leaders prepare for MarketHub Asia next week, Hotelbeds promises to uncover the latest and most crucial trends in the world of travel with the presence of renowned speakers such as Google, Global Sustainable Tourism Council (GSTC) and the Pacific Asia Travel Association (PATA). During the two-day conference, thought leaders will dive into the evolution of travellers, focusing on the growing importance of sustainable and responsible travel, as well as data-driven consumer decision-making. “The packed agenda for MarketHub Asia, featuring world-leading organisations shows the value this event has for leaders across the travel industry” said Carlos Muñoz, Chief Commercial of HBX Group, parent company of Hotelbeds. “It promises to be an insightful event covering the hottest topics such as the power of personalisation of experiences, the benefits of collaboration to foster innovation and much more .” Fostering global collaboration and knowledge-sharing among the 400 attendees from 16 countries across Asia-Pacific and the Middle East, the event will take place from November 21-23 at the Amari Bangkok Hotel. MarketHub Asia will not only offer a world-class conference programme but will also provide a unique platform for networking.  Supported by select sponsors including ONYX Hospitality Group, NH Hotels (part of Minor), Clermont Hotel Group, Accor, Visit Hungary, Rixos Hotels and Titanic Hotels, MarketHub Asia is an exclusive, invitation-only event that brings together Hotelbeds’ strategic partners and clients. For more information about the MarketHub Asia, please visit the website.   ### About Hotelbeds Hotelbeds are global leaders in the TravelTech space, connecting and empowering businesses by facilitating bridges in the ever-changing and expanding travel ecosystem. Our cloud-based technology platforms offer fast and simple access to a global network of travel products, from accommodation to ancillaries and payments, while rich data and intelligence helps to generate demand. By operating exclusively in the B2B arena, we are uniquely placed to drive growth for our partners without competing for the end customer. Our teams of 3000+ experts on the ground provide local expertise and support to boost trading even further, even in the most hard-to-reach spaces. Our unique blend of technology, data and passionate people serves as a catalyst for B2B travel players aiming to unlock their full potential. Follow us: Linkedin: https://www.linkedin.com/company/hotelbeds Twitter: @Hotelbeds Facebook: Hotelbeds Instagram: @hotelbeds_official Hotelbeds Media Contact PR & Media Relations  Clara Truyols – clatruyols@hotelbeds.com