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  • Travel is back to 2019 levels with growth moderating: “revenge travel” fading, corporate travel remaining stable
  • Short-term rentals are key, but face increasing restrictions in some cities
  • Tourism has forgotten its relationship with its resident hosts, new approaches needed

Fast Facts

52%

of Americans now have a passport

 

$1bn+ 

Travel spend generated by Taylor Swift’s Eras Tour

70%

of Las Vegas hotels’ revenue is non-gaming related

8/10

of the largest global events in the next decade are in the US

15-20 Points

Improvement in NPS from travelers who book an experience as part of their trip

30-60 days

Travelers book flights / hotels 30-60 days out, but set up experiences only 7 days or less in advance

India

to become the 5th largest outbound market by 2027

Speaker highlights featured from: 

Travel platforms: Booking Holdings, Expedia Group, Airbnb, Tripadvisor, AMEX Travel; Hotels: Marriott, Wyndham, MGM; Experiences: GetYourGuide, Viator, Klook, TUI Musement, Las Vegas Raiders; Airlines: United Airlines, JetBlue

Experiences:

Linking travel and activities more intentionally

  • Companies aim to manage the entire customer journey, from flights to experiences
  • Experience-based travel, such as sports and events, is a major growth area
  • Market is fragmented, dominated by small offline operators
  • Online platforms are addressing this fragmentation

Technology:

Help operators meet today's demands, building for future

  • Data is key to delivering a seamless trip and experience
  • Companies are re-platforming to enable end-to-end customer ownership and data leverage
  • Operational application to ease pressure on frontline staff and reduce their workload / activities
  • The promise of AI in travel is still 10-20 years away due to the lack of applications

Customer Engagement:

Consumers are in the driver’s seat

  • Loyalty is critical for customer retention and repeat business
  • Consumers often join multiple loyalty programs to maximize rewards, not necessarily brand loyalty
  • Therefore, rewards are shifting from transactional offers to experiences
  • Multiple reward levels are emerging to appeal to all customer, including younger travelers