Market Data

Global megatrends are shaping new imperatives for travel industry

Jan 25, 2019 / Trends
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Shutterstock

Travel industry leaders will need to manage companies that are able to pivot quickly in response to new customer demands and expectations, the next revolution in data capabilities and heightened business risks.

The call comes in a new ‘megatrends’ report issued by the World Travel & Tourism Council, which predicts eight billion air travellers by 2037.

In the face of unprecedented change across all industries, the future of travel and tourism will be shaped by firms and destinations which provide “unique and meaningful experiences, harness the power of networks, provide a personal service to sustainability-minded consumers, and are led by trustworthy and responsible leadership,” according to the WTTC.

Report: World, Transformed: Megatrends and their implications for Travel & Tourism

Distribution

Hotelbeds launches new features on its hotel extranet

Jan 25, 2019 / Hotelbeds
Hotelbeds
Hotelbeds

Hotelbeds' extranet for hoteliers adds functionalities that allow the visualization of fares and availability in real time for any hotel.

The new functionality is a step forward in the relationship with hotels since it offers greater visibility of their inventory, which allows them to detect opportunities and make adjustments through connectivity.

This improvement, together with all the functionalities offered by the tool, allows Hotelbeds to work hand-in-hand with hoteliers to have better and more competitive conditions for customers.

MaxiRoom is the Hotelbeds free hotel extranet that was launched in 2015 and is designed to control and maximize the distribution of properties in a faster, smarter and easier way.

Market Data

New tourism industry: the era of globalization and integration

Jan 25, 2019 / Trends
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Shutterstock

As the tourism industry develops, Ctrip will continue to embrace new partnerships to make its global travel ecosystem even more seamless and convenient.

Globalization and integration of the tourism industry has created many opportunities. Consumers increasingly demand a more personalized tourism experience, and tourism products are gradually becoming more diversified.

In order to cater to increasing demand for personalized travel, Ctrip has been working closely with overseas local partners and providers to provide travellers a full range of options; not only air tickets, hotels and car services, but also local day trip, cuisine and shopping suggestions. Ctrip Group has grown into a one-stop travel platform, which accompanies travellers for the duration of their trip.

Products & Services

How consumer driven trends are impacting the world of hospitality

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Shutterstock

Sabre released a study which reveals the top consumer trends that will shape the hospitality industry in 2019 and beyond.

Some of the highlights of the study:

Vitual companions: While time-pressed travellers may wish to avoid other people during their stay, others will welcome companionship – even in virtual form.

Breaking bricks: Traditional brick and mortar retailers are expanding into hospitality – building immersive brand experiences for their customers – providing an entirely new breed of competition for traditional players.

Magic point-of-sale: Using their devices to summon a “magic point-of-sale,” travellers can engage with establishments, browse products, test and purchase in innovative new ways.

New workforce: The proliferation of on-demand services and co-working environments are transforming expectations around work and travel.

Download the full report at Sabre Hospitality

Products & Services

The power of personalization and building personal connections

Jan 25, 2019 / Guest Experience
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Shutterstock

Expedia on how the travel industry is entering an era of both traveler and supplier personalization – leveraging high tech to deliver high touch experiences.

What happened to brand loyalty? Today’s consumers have been trained to research products and prices, read reviews and make educated and discerning purchase decisions.

To reach and engage customers in 2019, and to appeal to their personal needs, companies need to deeply understand what today’s consumers value most.

This is especially true in travel – because experiences have taken priority over possessions as a path to happiness and fulfillment.

Reputation Management

The psychology of online reviews

Jan 25, 2019 / TrustYou (sponsored)
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Shutterstock

From the humble beginnings of word-of-mouth to an entire industry, feedback has certainly come a long way and it’s not stopping here.

It’s become second nature to look up and consider online reviews, whether we want to purchase an electronic, choose a restaurant, or book a hotel. Yet why exactly do we base our decision on reviews?

What psychological processes are influencing our decisions? We’ve decided to look further into the psychology of online reviews and get a deeper understanding of how and why other people’s feedback matters so much to consumers.

It’s safe to say that the main reason why consumers write reviews is that they’re aware of the importance and the impact they have and they want to help guide future buyers.

Digital Marketing

Big data and the need for a data strategy

Jan 25, 2019 / SnapShot (sponsored)
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Shutterstock

There are many reasons for data problems to occur, but one of the biggest ones is simply from low maturity and low value of treating the data.

While big data has been around for quite some time now, the hospitality industry is still at a low level of maturity in comparison to other industries when handling data.

The combination of silos between systems and technologies, large amounts of unstructured data, and legacy systems, hinders the hospitality industry from advancing and taking advantage of this valuable resource and deploying big data management.

In order to resolve these barriers, companies must endure high integration costs, as well as allocate additional resources, money and time which could be spent on other important matters.