Nedyalko Terziev

One of Robert Rosenstein’s biggest concerns is that artificial intelligence, like all new tech, will increase the gap between the haves and have-nots. The chairman of Agoda says that while smaller companies can be faster and more nimble, the biggest benefit of #AI - to increase productivity and cut staff - plays to the large companies. “We experienced this with search and marketing – the big companies who could afford to spend versus the small who couldn’t. To really take advantage of AI, you need significant engineering capabilities and I don’t know if small companies will be able to afford that,” said Rosenstein. Get the full story on #PhocusWire: https://bit.ly/3Bc8WOh #traveltech #travelnews #travelindustry #artificialintelligence

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"When you lift the curtain on that shiny mobile app, the reality is often a tangled mess of outdated systems behind the scenes. Many travel companies rely on legacy booking platforms that don't communicate well with each other. Add to that the complexity of partner airlines and outsourced services, and resolving issues becomes a logistical nightmare." Read Steve Orton's latest blog on the impact travel disruption has on customer experience. What part can technology play in improving customer relations when things don't go to plan? Read it here: https://lnkd.in/eWUKEDvm

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New capabilities in Travelport Mobile Agent 5.0, which gives agents full access to the Travelport global distribution system from their mobile device, include a one-click process to send itineraries and personalized travel quotes, as well as the capability to add a customizable markup on prices either as a percentage or fixed amount, TTS said. The update also includes the ability to attach city guides for more than 3,000 destinations alongside quotes and itineraries.

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Direct bookings are prized for possessing the lowest costs when it comes to acquiring guests. Yet, a good direct booking strategy is not about eliminating OTAs, but building a distribution strategy that is balanced between direct bookings and OTA bookings. https://lnkd.in/gJEk3a3H

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Serko Ltd. will acquire Sabre Corporation's GetThere #onlinebookingtool for $12M (https://lnkd.in/g2wUaQqN), 98% less than the $757M Sabre paid 24 years ago. Was it a bad investment by Sabre? History says no. Think of it instead as a $31M/year insurance premium as part of a broader plan to protect Sabre's core business. The viability of the #GDS commercial model relies upon its status as the primary content aggregator in the #corporatetravel market. $31M/year is small compared to the stakes. In the late-1990s, GetThere was a startup with cutting edge content aggregation technology (https://lnkd.in/g83btwjG). Meanwhile, #airlines were disintermediating Expedia Group *and* the GDSs in the online leisure space by setting up new alternatives like ORBITZ to facilitate direct connects outside the GDS using lower web-only fares as content differentiation. GetThere was quietly pursuing the Orbitz playbook in the corporate market, sans airline investment but with the same content edge. "Intrigued" by their direct connect business model (https://lnkd.in/gbWc84Aa), Sabre acquired GetThere in August 2000. Perhaps seeing it as diversification of its content aggregation portfolio, Sabre marketed the direct connect edge and built GetThere into the market-leading booking tool (https://lnkd.in/gyEJ-iWa). In 2002-2003, Sabre signed "DCA3" deals with airlines which brought web-only fares back into the GDS (https://lnkd.in/gPm4CiNg) and dealt a blow to airline direct connect strategies. GetThere began its assimilation into Sabre's broader strategy to maintain its dominant position. According to a 2011 antitrust case brought by American Airlines (registration required: https://lnkd.in/gjs7JEKs), the strategy was called "Project 99" internally. American alleged its goal was to "neutralize" the "one disruptive force in the industry" -- American's direct connect -- and any airline followers. American said the strategy involved a web of contractual restraints on airlines (i.e., full content deals which, in the case of American, included a "blow up clause" which Sabre used to bias against American), competing booking tools (https://lnkd.in/g-Q8SKq4), and agencies (via incentives and penalties). Complain all you want, but Sabre has retained its gatekeeper role in corporate travel these past 24 years. GetThere was an inextricable part of making that happen, and through that lens we believe the ROI goes well beyond the loss incurred on the asset itself.

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Booking Holdings (NASDAQ: BKNG) Q1’24: - Gross travel bookings up by 10% to $43.5B. - Room nights up by 9% to 297M. - Airline tickets up by 33% to 11M. - Revenues of $4.4B, up by 17%. - Operating income up by 76%, reaching a margin of 17.9% (11.9% in PY). Expedia Group Q1’24: - Gross travel bookings up by 3% to $30.2B. - Room nights up by 7% to 101.2M. - Airline tickets up by 1% to 14.2M. - Revenues of $2.9B, up by 8%. - Operating loss. $BKNG results just demonstrate its leadership! #earnings #earningseason #stocks #fundamentals #ota #stockopine

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Listed travel tech SaaS startup RateGain is looking to double its revenue in the next three years as the company leverages artificial intelligence to cut operational costs and demand booms in India’s hospitality and tourism sector, its founder and managing director Bhanu Chopra said 👇 During the company’s 12th annual general meeting on Monday (September 16), Chopra said that RateGain aims to double its revenue by FY27 compared to FY24. Founded in 2004 by Bhanu Chopra, RateGain is a global provider of SaaS solutions for travel and hospitality sectors, enabling enterprises to accelerate revenue growth through acquisition, retention and wallet share expansion. The startup claims to cater to more than 3,200 customers and has a presence in over 100 countries. To read the in-depth article, click here: https://lnkd.in/grJKbu65 #news #SaaS #startup

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Recently Expedia Group released a new Sustainable Travel Study, here are some takeaways and how important eco-friendly trips are for travelers. 📊 Overview: Travelers seek meaningful, eco-friendly experiences Global study to understand sustainable travel choices 🌏 Sustainable Travel Landscape: 69% want to lessen environmental impacts 66% support local economies 65% support local cultures and communities 52% visit lesser-known destinations 🛎️ Key Findings: 90% look for sustainable options when traveling 56% recall low environmental impact options 51% choose local culture/community options 48% support local businesses 💡 Consumer Preferences: 74% willing to pay more for sustainable options 46% visited local cultural sites 42% bought from local cultures/communities 40% stayed in eco-friendly lodgings 34% used providers committed to sustainability 💲 Cost of Sustainable Travel: 74% say it costs too much to be sustainable Willing to pay more for eco-friendly options Food (55%), Activities (53%), Lodging (51%) 🚗 Sustainable Transportation: 30% prefer sustainable airplane options 28% prefer trains, 26% prefer cars 📚 Information Needs: Consumers want clear, easy-to-understand info Seek sustainable travel tips from trusted sources Prefer listings on travel sites, travel shows, and videos #sustainability #ecofriendly #trips #travel #tourism #expediagroups

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🤖 You would be hard-pressed to go a day without hearing about AI in the news. Robin Lawther, vice president of Expedia TAAP, knows that the technology "has raised a lot of questions for the travel industry as a whole, and specifically around what it means for travel agents" 💬 We heard from Robin about how AI could be "the great enabler" for travel agents, where agents can start with their integration of AI for efficiency, and how it might shape the future of travel bookings https://lnkd.in/eYdjcpkF

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Harnessing the power of AI, travel and hospitality brands are not only creating better traveller satisfaction, it’s also driving innovation faster across the entire industry ✈️ In this article, Amperity's VP EMEA Matthew Biboud Lubeck describes five ways GenAI will support future travel experiences. Read insights in Enterprise Times: https://loom.ly/Gq2pVqU #FirstPartyData #GenAI #TravelBrands

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#ElevateTravelConnect2024 was jam-packed with future-shaping insights. From data to dynamic offers, industry experts shared their expertise on the future of modern airline retailing. ATPCO's Angela Sultana, Vice President, Global Marketing, unpacks three of the biggest takeaways from #ETC24 and shares how you can turn them into tangible to-dos for your organization. Read them now: https://bit.ly/4aYJE2l

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Curious about how Expedia leverages data to fuel its vast network of partnerships and create a great end-to-end experience for travellers? 🛫 Join Jason Foster as he dives into the world of global travel partnerships with Raegan Armstrong, Senior Director of Global Airline Partnerships at Expedia Group. In this discussion, Raegan sheds light on the critical role of data in driving strategic decisions and operational agility. As she emphasises, the key to success is to 'stay curious just a little longer', encouraging us to delve deeper into data insights, connect them with commercial objectives, and understand the real challenges and opportunities. It's about ensuring alignment between the commercial and data functions on goals and values. 🎧 Tune in now: https://hubs.la/Q02wFFlr0 More about Raegan👇 Raegan is the Senior Director of Global Airline Partnerships at Expedia Group, overseeing global enterprise partnerships and leading the commercial team. Her role encompasses distribution, private label, and media solutions for airlines. With a 15-year track record in B2B, Raegan excels in partner collaboration for customer attraction and retention, and devising strategies that deliver value to travellers and loyalty members. #Data #DataPodcast

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"Over 80% of travel agents are facing a double challenge: intense competition from online travel agencies (OTAs) impacting sales, and difficulty finding reliable B2B travel partners across Southeast Asia, around 2% conversion rate" as our study recently. ❓ What's happening? 1️⃣ Glenn, CEO and founder of Booking.com, shared they can negotiate with local hotels for commissions up to 50% per deal even more. This significant margin is possible because they can drive massive bookings to hotels in a short period. Such capabilities pose a considerable threat to traditional travel agents. 2️⃣ Another reason: Technology Technology supports automation. Traditional travel agents rely on mostly manual processes, limiting them to handling only a few customized inquiries daily. They cannot send thousands of quotes or manage a large sales team without incurring high costs. In contrast, OTAs can send millions of quotes and close bookings in seconds, a feat traditional agents can't match. 3️⃣ Operation: How is a simple land tour package operated by travel agents? Typically, a package includes five services: hotel, land transport, tickets, restaurant, and tour guide. Traditional agents coordinate these manually via operators, tour guides, and drivers using phone calls or messaging apps like WhatsApp, WeChat, and Telegram. This method is slow and costly. OTAs simplify the process using QR codes and tracking apps. 4️⃣ Marketing: Individual travel agents can't invest billions into advertising, trade shows, and events annually. OTAs can and do. In 2023, according to Statista, Booking.com spent $6.8 billion on advertising, while Expedia.com spent $3.8 billion on advertisements and $6.9 billion on sales and marketing. ❓ ❓ ❓ So how can traditional travel agents grow sustainably in the long term? ⏳ Answer: They need to change now. Here are some solutions: 🔴 Leverage technology to increase productivity in sales, marketing, and operations. Automation can streamline the quoting process, reducing the need for large sales teams. 🔴 Restructure travel package costs (COGs). Adopt cost structures like Activity-Based Costing to manage costs effectively. A dynamic cost structure can help agents control margins while keeping prices within clients' budgets, ultimately boosting sales. 🔴 Leverage AI to analyze visitor statistics and expectations. Use these insights to upgrade services and meet customer expectations, thus enhancing customer satisfaction and loyalty. 🔴 Strengthen community partnerships among travel agents. Building a strong network of qualified travel agents worldwide can facilitate cross-selling and enhance negotiation power with local suppliers like hotels, restaurants, and attractions. 👉 As a travel agent, what difficulties is your business facing? What solutions do you think could address these problems? Share your thoughts via this https://lnkd.in/gVzyFhKk. Thank you, #TUORR #travelagents #tourism #OTAs #AI #SoutheastAsia #travelpackage

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Learn how Amadeus' digital media strategy for The Trans Resort Bali led to a significant increase in revenue for the hotel by focusing on new package offers and a direct booking option. https://hubs.la/Q02yVxXf0

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