Uber and Lyft both lose a lot of money, in part because they give large discounts on rides as they compete for market share. That could all be ending, though, according to Wired.
Both companies are raising prices for some rides and, an Uber official said, the price war between the two may be ending.
“We and Lyft are big-time competitors here and have been for some period of time, but for now we’re seeing generally, category positions that are stable,” said Dara Khosrowshahi, CEO, Uber. “We are focused on improving profitability in this market.”
Uber recently reported a $5.2 billion quarterly loss; Lyft, meanwhile, reported a $644 million loss. Uber’s losses in part come from its initial public offering in the spring, but also from expanding the Uber Eats service and declining revenues in Latin America, where the company faces competition from Chinese ride-sharing firm Didi.
Lyft said its losses are from growth-related spending, expected to ease in the near future. Neither company told investors when they would become profitable.
Six Senses Kocataş Mansions opened late last month along the Bosphorus Strait. The property is housed within two restored, Ottoman-era mansions in Istanbul. The resort’s urban decor incorporates architectural features and artifacts from the mansions.
Welcome to Rhodes, a medieval treasure beautifully preserved throughout the centuries. Rhodes is the capital of the Dodecanese, an island ideal not only for those who want to relax, but also for those looking for an action-packed holiday! With its bright green hills, rich green valleys and uninterrupted line of golden beaches, Rhodes is truly a blessed place. “The sun island” has more sunshiny days and milder temperatures throughout the year than any other location in Greece. It is, after all, one of the country’s easternmost places and among the first to welcome summer on its impressive beaches. Add in the excellent facilities for tourism, the island’s special blend of cosmopolitan and traditional, and numerous cultural and archaeological sites, the most important being the Medieval (Old) Town, a UNESCO World Heritage site, and you’ve got the perfect holiday destination. While on Rhodes, don’t miss a daytrip to nearby Sými. An island of sponge divers and seamen, Sými used to have 30,000 inhabitants before the Second World War and was the richest island in the Dodecanese, despite its small size. Today, Sými attracts many visitors thanks to its beautifully preserved Neo-Classical buildings and the famous Archangel Michael monastery at Panormitis.
TAP Air Portugal is adding 15 new weekly flights from the United States and Canada by summer 2020, a new record for the carrier of 71 weekly flights between North America and Portugal.
Wheel the World, backed by booking.com, is a new accessible travel startup and one-stop shop for travelers with disabilities, regardless of age. The site curates accommodations, transportation and tour activities suitable for those living with disabilities.
Thessaloniki is the second-largest city of Greece and the most important center of the area. Built near the sea, elegant and refined, the Greek “Lady of the North” is a modern, vivacious city that welcomes visitors eager to learn about its history and culture, and at the same time have fun, relax, go shopping or simply explore the cityscape by the sea.