Experiences

Many travel brands assume that a commitment to doing good means the bottom line will take a hit. But based on a growing amount of evidence, it’s simply not true. Companies like Intrepid Travel are discovering that purpose-driven business goals can help their organizations become more innovative, resilient, authentic, and profitable.

Should there be TripAdvisor booths at big tourist attractions in Paris, New York, Las Vegas and Rome? It might not be a bad idea to explore to attract the business of travelers who like to book attractions offline. Would it scale? Expedia does it, but the numbers crunchers would have to figure it all out.

There is no set formula on how to do it, but it's clear that the most progressive companies in travel are intent on reinventing their businesses, and value propositions. On the other hand, certain things that still work, like customer service and personalized hospitality, will survive the cut.

We said there would be more consolidation in the tours and activities space, and the ink was hardly dry when TripAdvisor announced the acquisition of Bokun. This enables TripAdvisor to provide an end-to-end solution without having to rely on third party vendors to bring tours and activities suppliers on board.

And the winner is ... "experiences." It's a trendy way these days to refer to what formerly were known as tours and activities or attractions. Following Airbnb and Booking.com, TripAdvisor's new business unit will be called TripAdvisor Experiences. Breathing is an experience and living is an experience. Does the name du jour really reflect tour and activities offerings?

Trips, experiences, tours, activities – you call them what you like, travel brands want a bigger piece of the sector. For plenty of companies, it's no longer just about the flight or hotel.

Affluent travelers are often targeted by travel brands due to their huge spending power. Making assumptions about this segment based purely on their high incomes, however, is likely to be a mistake.

Given their huge spending power, it’s no wonder affluent Americans are an attractive and strategic segment for travel brands to target. Our U.S. Affluent Traveler Survey 2018 reveals key insights into their travel behaviors, attitudes, and preferences, while further segmentation paints a more nuanced picture of this diverse and lucrative group.

Viator leads in online tours and activities, as Skift Research's new analysis shows, but being in first also puts a target on its back. Rivals are working hard to close the gap and the race is far from over.

Rumor has it that Airbnb is gearing up to announce a more personalized experience soon, and Onefinestay may have just beat its strongest competitor to the punch.