What to expect for the travel industry in 2021
So many interesting and insightful conversations happened during Click. 2021. Explore our Click. 2021 event page to learn more.
Our CEO Glenn Fogel said in the Daily Studio Show "Our future together": “Our company's role is to shape the future of the travel industry and make it better”. And supporting you, our partners, along this road to recovery is a really important part of that.
Here are a few more takeaways that were shared at the event, that will give you an idea of how we’re reimagining our partnership this year.
Capturing growing demand
To rebuild business together, we need to focus on stimulating - and capturing - demand. Lots of ways we do this were unpacked at Click., including:
- The Booking.com mobile app - we’re investing in app development to make sure customers’ booking experiences are as seamless as possible. And for partners, it means more reservations, more guests, and more revenue.
- Payments - we’re continuing to invest in making improvements to our payments solutions so that our partners can increase their revenue security, and customers have more flexibility around which payment method they wish to use.
- Genius levels are extended. To stimulate the demand for our Genius partners on Booking.com, we launched a trial in 2020, which enabled all Booking.com account holders to experience the Genius programme for 7 days. The results showed that this helped the participating partners (who were offered a 10% discount) to drive up to 20% more bookings from these logged-in customers, resulting in a positive ROI. Based on the successful trial we decided to extend the Genius Level 1 offering to guests as soon as they’ve created an account. One more Genius Level is being prepared for a launch to customers at the end of this year. We call it “Genius Level 3”. These are the highest-value travelers - those with 15+ bookings in two years.
Technology is a solution
As a tech company, we have big opportunities to improve our processes and products and adapt to the current rules and regulations. And this is what we plan to do. There are a few tech trends that Glenn Fogel mentioned in his speech:
- The Connected Trip - The goal of the Connected Trip is to create seamless end-to-end travel experiences. It is particularly vital when you consider the shift in consumer behavior towards mobile booking. We believe that offering additional trip products like cars, flights, taxis, and attractions will help to capture more demand and encourage more guests to make reservations.
- Artificial Intelligence. This technology gives amazing opportunities to predict things and helps both customers and partners to make changes beforehand. By the way, our Guest Review System works on a very interesting feature that is called tailored advice. It is based on your property performance to help you improve your performance. For example: we will analyse the guest’s history and past reviews to inform you in advance that she is vegetarian. It will enable you to make necessary arrangements to cater to the guest.
What do you expect for the travel industry in 2021? What is the most exciting tech trend for you? Tell us in the comments. Don't forget to use our hashtag #click2021.