Sébastien Bazin: If I may start on what’s happened to the industry at large, it will explain the reason why we launched the digital strategy. It’s just a matter of 65 years in this industry since the 1950s, of which the hotel operator had been blessed for the first 50 years to be, basically, the sole participant in the value chain. Ninety percent of profit was derived from the hospitality industry with the other ten percent in the hands of the intermediate actors, the traditional travel agent such as Carlson Wagonlit Travel, American Express, and others. There was a major shift in the last 15 years, during which you had what I call the first revolution. The OTAs started replacing the traditional travel agent and expanding very quickly. Then six or seven years ago came the aggregators, which we call the meta-searchers or the Kayak and Trivagos of the world. They basically aggregated a lot of information and made the booking decision-making process much easier. Then you had the last revolution a couple of years ago, which I really define as the ‘disruptors.’ This a new customer-to-customer business model, which happens to be Airbnb, Uber, and Lending Club. If you really look at the impact of those 15 years, most of it is customer-driven, guest-driven. It was basically meant to be provide an easier route, easier access, and better decision-making processes for the guest. Get the full story at Skift