Tuesday, 12 December 2017

China is Expedia’s Achilles heel

Expedia wants to expand outside the North America but making inroads into the world’s most influential travel market will be a tough ask in the face of increasingly fierce competition finds EyeforTravel’s new report into Expedia.

With a projected compound annual growth rate in outbound journeys of 8% to 2020 and an even faster growing domestic market, Expedia needs to get a slice of the Chinese market but since its sale of eLong, the competition has only got stronger and it may be too late to make inroads according to EyeforTravel’s new report into the company.

Expedia faces not only a series of rapidly growing brands that are beginning to establish themselves but an increasingly interconnected web of investments between these players that threatens to lock them out of the market. The key player is Ctrip, which is now reaching a point of near-dominance in the market. Other key brands in the market include Qunar, eLong, Tujia, Alitrip, and Meituan-Dianping, making it a competitive market place, but already several of these brands are falling under key rivals. Ctrip is the biggest player in the field, snapping up Expedia’s former brand in China, eLong, alongside Qunar, and it also has a subtantial investment into Tujia.

Expedia’s great rival Priceline is also deeply embedded into the market. It has investments and distribution partnerships with both Ctrip and Meituan-Dianping, tapping into two already key players, with explosive growth rates. In the case of Ctrip, Priceline’s investment gives them up to 15% of the shares in the company and also an observer on Ctrip’s board, allowing them a degree of influence in the company, one that is unlikely to be friendly to Expedia.   

Although Expedia’s weakness in the market is noticeable, it’s not just Expedia that has struggled in the Chinese market. Other tech giants, such as Uber and even Google, failed to truly make inroads despite putting in big investments, emphasizing the complexity and unique dynamics of the market. It appears that for now Expedia is choosing to focus on other Asian markets, recently announcing that it is investing into regional OTA player Traveloka. Traveloka focuses on Southeast Asia and Expedia reported in 2017 that the area is its fastest growing regional market.  

Nonetheless, the situation leaves Expedia largely bereft of options to open up the Chinese market currently and potentially facing a very large bill if they do want to establish themselves, both in marketing and platform terms. However, one potential route in the long term might be through its investment into SilverRail. Rail travel is already critical in China, making up the largest segment of the digital travel market in the country and is set to grow substantially in the coming years. A foothold in rail therefore could be a key competitive advantage, especially as Priceline is so heavily focused on accommodation and not as diversified in terms of revenue streams as Expedia. However, it remains a longshot in the context of an increasingly powerful number of localized and interconnected players.

To preview and buy EyeforTravel’s Expedia report, click here, or here for the Priceline report. These are part of the Future of the Online Giants series, which will cover Expedia, Priceline, TripAdvisor, Ctrip and Google. Keep a look out through EyeforTravel On Demand for the rest of these reports. 

Thursday, 7 December 2017

Are hotels focusing enough on the stay?

The following is the introduction from EyeforTravel's new the Future of the In-Stay Experience report. 

Hospitality businesses live and die by their reputations but are accommodation brands really focusing enough on the one moment where they have the guest’s complete and undivided attention: The stay itself? It is these crucial moments when they interact to request a service, such as check-in, a spa treatment or for local recommendations, that will last longest in the guest’s memory.

Now, there are new possibilities to improve the guest experience as technologies open up and fall in cost. The future of the stay will be one where the guest can use their own device to interact directly with the hotel’s staff or even the hotel itself through AI-powered interfaces. Customers will be able to call on far more services, and staff will be more connected and effective.

Hospitality companies’ key objectives currently are to drive loyalty and improve the customer experience in the hope that this will drive down acquisition costs by creating repeat guests. Although the pre-stay digital area is important and has received a lot of focus recently, it is the quality of the experience when they are in the property itself that will truly generate long-term loyalty and strong review performances.

From a marketing perspective, it’s the one time that they have the guests’ complete attention. Potentially it represents a key competitive advantage for accommodation suppliers, as they compete against themselves and against the online travel agents (OTAs) to grab and maintain the guest’s attention.

This paper will demonstrate the solutions that allow hotels to facilitate better guest-focused services and communications.

We talk to the leading tech firms in the field, break down the changes happening already and what hospitality brands should be looking to implement to secure their guests’ loyalty in the years to come. 

Tuesday, 5 December 2017

New Free Report: The Future of the In-Stay Experience

EyeforTravel's new report is out now and completely free for you to download. It covers the growing sphere of in-stay technology focused on improving the guest's experience and hotels' relationships with those guests.

Hospitality businesses live and die by their reputations but are accommodation brands really focusing enough on the one moment where they have the guest’s complete and undivided attention: The stay itself? Now a wave of innovation and consumer technology is giving hotels new opportunities in this space and opening up ways to build relationships. Download the free report now to see how you can take advantage of this exciting and expanding area

From the moment a hotel takes a guest’s booking they have an unrivalled marketing opportunity. The guest is theirs to build a relationship with and a growing wealth of technological solutions are springing up to handle this before, during, and after the stay. Through smarter properties and systems, hotels can build up complex guest profiles that can be used to improve almost every aspect of property performance and therefore the guest’s experience. What’s more these technologies are becoming cheaper and more accessible through mobile apps and cloud computing.

The future of the stay will be one where the guest can use their own device to interact directly with the hotel’s staff or even the hotel itself through AI-powered interfaces. Customers will be able to call on far more services, and staff will be more connected and effective.

Download this completely free report now and find out what the emerging technologies are, who is providing them, and how they can help to transform your business and your relationship with the guest.

This report explores:
  • The tech and tools available to create better guest stay.
  • What tech companies are working in the field and what solutions they can provide.
  • How to work with changing consumer technologies and behaviors.
  • How to improve pre-stay messaging.
  • How property management systems are developing and what this means for hotels.
  • What the future of the guest stay will look like.
  • The real-world results of implementing technological solutions.
  • How staff can improve their performance through new technologies.
  • How hotels can gather and utilize the new wave of data coming from emerging technologies.

This content is brought to you by EyeforTravel San Francisco 2018. Join 300+ senior travel experts talking about mobile, social media, data & partnerships, and the travel start-up scene.

Thursday, 30 November 2017

New EyeforTravel Free Report: EyeforTravel North America Summit 2017 Round-up

We have a new report out now, which you can download for free, covering all the goings on at our largest US conference, the North America Summit 2017.

At the event it was all about using the leading edge of technology to address the age-old issue of improving the customer experience. See what technologies top brands are getting involved in and the tactics they are using with this report from the heart of the Summit.

EyeforTravel’s North America Summit took place in the wake of tragic events in Las Vegas but the travel industry came back with a roar to take on the big issues: Loyalty, technological disruption, changing distribution possibilities, customer experience, and partnerships. Download this completely free report now to see what key industry figures are saying about these topics and how they believe the industry will adapt.

The report features advice and learning from brands including IHG, Caesars, Lola Tech, Allegiant Air, Marriott, Google, and Priceline.

Get all the key discussions in one easy-to-digest report so you can keep on top of the ever-evolving world of travel and tourism by joining EyeforTravel On Demand's free service, or if you are a member of EyeforTravel On Demand Premium you can view all the videos from the Summit here.

Tuesday, 21 November 2017

Blockchain: the end of the sociopath CEO and the rise of consensus?

In today’s homepage story we publish the first in atwo-part Q&A with Winding Tree founder andCEO Max Izmaylov. In conversation with him this week, he recommended a fascinating new video from technologist, serial entrepreneur and bitcoin expert Andreas Antonopolous. 

If you watch one video this week, we recommend thisone!

Aside from explaining why today’s hierarchical organisations, which are increasingly corrupted by power and often led by ‘sociopath CEOs’, no longer work for the information age, he also clarifies something that is often stated as fact: That blockchain is the technology that underpins bitcoin.

“Blockchain isn’t the tech behind bitcoin, it is one of the technologies - it is actually the database, the artefact, the ledger that is produced. But here is the really interesting thing: how is it produced. And the way it is produced in bitcoin and thousands of other cryptocurrencies and blockchains, that use a similar recipe, is on a completely flat, peer-to-peer non-hierarchical network where nobody knows or trusts anybody else. 

"Where we are able to engineer an emergence of an artefact, a ledger that records transactions that everybody can trust, that no one has the power to change, to modify after the fact, that removes the trust from the person to a mathematical construct that is neutral. That process is called consensus. It is the fundamental invention behind bitcoin and all the other digital currencies as a way to achieve trust at massive scale on a completely flat network. It allows us to achieve such a level of trust that we can conduct transactions worth billions of dollars…”

Phew! Something to think about!

It’s not too late to join us in Amsterdam next week for some fascinating blockchain insights

Tuesday, 7 November 2017

Senior Executives from Hilton, IBM and Mozio discuss Personalization in Travel

On Nov 15 (11AM EST), senior executives from Hilton, IBM and Mozio will be coming together on an EyeforTravel webinar titled ‘Personalization in Travel – Moving Beyond the Buzzword’.

While the concept of personalization has been around forever, the advances in mobile, data science and technology now allows a far greater ability to be able to recognise where the customer is in the travel cycle, provide the right content at the right time while simplifying the process.

In this webinar, EyeforTravel will go beyond the buzzword to see how big brands approach personalization

Speakers sharing their expert insights include:
  • Phillipe Garnier, VP Distribution and Partnerships, ‎Hilton
  • Steven Punchuk, ‎WW Lead Customer intelligence & Revenue Management at IBM
  • Emre Mangir, COO and Co-Founder, Mozio
The top themes being covered at the webinar will include:
  • What are the elements of the ecosystem that ensure success for personalization initiatives?
  • Leverage your data to compile a truly customer-centric database - utilise effective and relevant messaging to your customers, and successfully bridge that personalization gap
  • Create a technology landscape to enable effective personalization
  • Connect the data dots to build and create personalized interactions - how can you personalize at scale and what information can you gather to deliver a seamless customer experience?
You can register for the webinar here: https://register.gotowebinar.com/register/277278527115533315

Note: The webinar recording will be sent to all those who register. If you cannot make it to the live webinar but would like to be emailed the recording, please sign up.

If you have any questions, please get in touch with Nikhil (nikhil@eyefortravel.com).

Nikhil Vijayan
Head of Digital & Content

Wednesday, 18 October 2017

China’s travel apps on a growth path

Already more than 60% of Chinese consumers primarily use their smartphone to research their vacation and the only way is up for smartphone and app usage says EyeforTravel’s new Chinese Travel Consumer Report 2017-2018

Chinese consumers are far more smartphone and app-focused as they research and book their travel than their Western counterparts, with 60.3% using their smartphone as their main research device, versus 30.4% who mainly use a desktop or laptop finds the research.

As Chinese travellers move on to the booking phase, smartphones become less dominant than in the research phase but still leads desktop. When making a flight booking, 41.3% choose to use their smartphone, compared to 35.2% who prefer to use a desktop/laptop. Only 8.3% book using a tablet and 6.2% buy their flight face-to-face with a travel agent. Similarly, with accommodation 41.8% of respondents prefer a smartphone, 34.2% a desktop/laptop, and 8.7% of consumers use a tablet.

Within this, apps are comprehensively beating browsers for Chinese users’ time and spending. Across all flight bookings in EyeforTravel’s survey 34.4% used a smartphone app versus 6.9% who made their booking using a web browser. Once again, there is a similar pattern for accommodation bookings, underlining the unique dynamic of the market.

Furthermore, smartphone usage for travel planning is set to grow as younger generations are more smartphone-focused. Among 18-35 year olds 65.5% primarily use their smartphone to research travel but just 22.9% use desktops or laptops. For those aged above 56 47.7% prefer a smartphone and a substantially higher 43.7% go through a desktop/laptop.

Not only this but younger generations put more emphasis on travel, spending proportionally more of their annual income on tourism. They are also benefiting from improving education standards and economic conditions in China, further increasing their discretionary spending power. These conditions will make the smartphone the dominant device of the future when trying to reach the Chinese travel consumer. 

Become a member of EyeforTravel On Demand now and access the full report, which includes:
  • A survey of more than 2,000 Chinese travel consumers.
  • Economic analysis and projections for the Chinese economy.
  • Summaries and outlooks for Chinese domestic and outbound travel.
  • Consumer booking, research, and trip spending behaviours.
  • Lead times for flight, accommodation and tours and activities.
  • Geographic and demographic breakdowns.
  • More than 50 figures, tables and charts profiling the Chinese travel consumer.