Articles tagged “startups”

While many of the challengers to legacy brands and systems have gained legitimacy and formed partnerships this year, we're still in the early stages of the eruptions along the fault lines of travel. Here are a few startups placing their bets in the midst of this.

Let the festivities begin this week at the Airbnb Open, which could prove to be one of the company's seminal moments. The world of travelers, hosts and everyone else in hospitality will be watching to learn what comes next for a platform that's eager to look towards the future while also working through legal battles at the heart of hampering progress.

Most startups fail, as Anand Sanwal of CB Insights points out, and sounding pessimistic can sometimes sound smart. But big companies should ignore them at their peril because, as he says, "They're not coming for your basis points, they're coming for your commas."

Peer-to-peer payment platforms, digital wallets and cryptocurrencies are no longer the things of science fiction. These are the platforms travelers are using to pay for their basic purchases every day. Data show that brands that have adopted these platforms have seen the benefits and returns.

While Skyscanner mulls an IPO and other European travel companies and startups attracted venture capital funding in 2016, things might be trending downward. Investors will likely be more timid in 2017 as European travel brands confront challenges wrought by Brexit, terrorism and local economies.

The future of the world is in cities and these startups want to play a part in that and help travelers get the most out of their urban destinations.

Startup fever gives rise to new entrants that believe they have a chance to compete and while some do, most have to fight hard to wrestle any market share away from major travel companies.

More companies want to own the entire travel journey and that means getting into the weeds of what travelers do while they're traveling. But tours and activities is hardly an easy sector to enter; throw in so-called expert locals with little tourism training and you're in murky waters.

The travel industry has moved forward on several fronts this year with plenty of obstacles in the way and startups are often a key ingredient in that perseverance and problem-solving.

Travel acquisitions have been humming along this year and we've seen several deals that will have a lasting impact on consumer behavior. Marriott-Starwood dominated headlines for months although Expedia and Priceline largely have been largely inactive in mergers and acquisitions so far in 2016. We still have a few months left, though.