Some of the stories in this issue explore how passion and identity are influencing travel. Branded hotels and “passion trips” create more personalized experiences that match guests’ lifestyles and values. These trends reflect the growing influence of the creator economy and the growing connection between personal brands and travel.
grateful Propeller Sponsor this newsletter.
Cookie Monster rejoice! Unless you’ve just taken a much-needed vacation, you’ve probably heard of Google Won’t Ending support for third-party cookies on the Chrome browser until 2025. This delay allows travel marketers to continue to effectively guide travelers from inspiration to booking as they browse the web (for now).
Hear about Google’s announcement and what it means for travel marketing from our strategic partner Propellic This article Written by Brennen Bliss, Founder and CEO of Propellic.
The most clicked link in Travel Tech Essentialist Issue 151 is Growth.Design’s A 5-minute story about the Hopper booking process.
Once upon a time, branded hotels were the playground of five-star luxury. Armani’s hotels in Dubai and Milan and Bulgari’s chic properties in Bali and London were the beginning of five-star luxury. But now, branded hotels are popping up in more affordable price ranges, partnering with fast-growing consumer brands. Honestly, it makes perfect sense. Think about it: would you rather stay at an unknown four-star hotel or a Patagonia or Nike hotel? David Kielstra
Branded hotels are growing. While luxury brands such as Louis Vuitton continue to open new hotels in Paris, brands from other industries are also more accessible, such as World House, Hello Kitty, Fila (In partnership with Hyatt Hotels) ELLE, MUJIand IKEA Entering the hotel market. Hotel Wim HofFounded by the “Iceman” himself, it’s a prime example of how a personal brand can evolve into a hospitality service.
David Kielstra HighlightsThe hospitality industry offers great potential for brands with a large following. He suggests choosing bicycle-themed hotels, such as Rapha or MAAP, or car-branded hotels to immerse guests in the brand’s world. As hotels target niche markets, these partnerships offer a unique way to stand out and strengthen brand loyalty by aligning with guests’ values, hobbies and lifestyles.
For Gen Z and Millennials, travel is a core part of their identity, according to a Thrillist survey of 2,000 adults. 72% say travel is core to their identity and one of the ways they express themselves. These travelers prioritize unique, off-the-beaten-path destinations, with 84% seeking out such experiences. 89% of Gen Z and 87% of Millennials make travel a financial priority, and they are willing to spend more to get what they want. “Passion travel” is the future, with 77% choosing travel based on personal interests. Of the travelers surveyed who plan to book flights in the next year, 63% say they plan and purchase activities before purchasing their tickets. Reading + thriller.
When Selina was listed on the Nasdaq in 2022, its market value was $1.2 billion, but now its market value has shrunk by 99% to only $547,000.
Peter Fabor believes that with some radical changes, the brand can be saved. His plan:
-
Prioritize guest experience: Close or outsource non-accommodation services and categorize locations according to specific guest types.
-
Eliminate non-core locations: Focus on beach, nature and lifestyle locations; close US city sites and downsize Israel, focus on Central/South America and Portugal.
-
Getting rid of proprietary technology: Use existing hotel software like Mews or Apaleo for better, faster and cheaper automation and revenue management.
-
Revenue Management: Shift from direct bookings to a GOPPAR-centric strategy and build partnerships for niche markets such as external corporate events and weddings.
-
Remote First: Transformed into a remote-first company with a leadership team focused on hospitality and unit economics.
Fintech companies are becoming increasingly integrated into the travel industry, driven by partnerships, acquisitions and new products that enhance the travel experience. Here are some of the developments highlighted in a recent report PhocusWire Article:
-
revolution The launch of free payment cards at vending machines in major European airports reinforces its strategy of accompanying customers everywhere they go.
-
SMCC and Hopper The company also partnered to launch a travel loyalty portal in Japan, following a similar partnership between Hopper and Nubank in Brazil.
-
Klarna Expanded partnerships with Expedia and Cathay Pacific resulted in a doubling of airline sales between April 2022 and March 2023 compared with the same period the following year, and a sixfold increase in travel agency partnerships.
-
JPMorgan Chase Acquired Frosch, Valerie Wilson Travel and cxLoyalty, targeting affluent consumers and expecting to book $10 billion in travel by 2023.
-
Capital One It revamped its travel portal, powered by Hopper, and acquired digital concierge service Velocity Black.
Hopper is accelerating the growth of its Hopper Technology Solutions (HTS) platform to create a “new space for travel” through partnerships with global banks and credit card companies. Co-founder Dakota Smith said HTS now accounts for 66% of Hopper’s total revenue and is the main driver of international revenue as the company shifts its focus from consumer applications to B2B solutions. Hopper has established partnerships in the United States, Brazil, Australia, Japan and South Korea, and has identified up to 30 other target markets, including Mexico, Canada, and countries in Asia, Europe and the Middle East, for further expansion. Reading + WiT
First US Accommodation BarometerA survey jointly released by Booking.com and Statista shows that the outlook for the U.S. hotel industry is positive, with two-thirds of businesses reporting positive sentiment and strong interest in investing. Their findings include:
-
66% of independent properties that use OTAs agree or strongly agree that they compete with hotel chains.
-
77% of hotels reported an increase in bookings through online travel agencies.
-
The vast majority of U.S. accommodations use OTAs to drive bookings: 56% are listed on two or more platforms, 31% use a single platform, and only 13% use none of them at all.
-
The survey shows that 72% of American hotels believe that their website is the most effective marketing channel, while only 27% of hotels believe that traditional media is effective. Online travel agencies are also valued, with 57% of hotels recognizing their effectiveness.
Anders Mogensen is a serial entrepreneur and current investor who leads Foundment, an early-stage venture capital firm based in Denmark. He has written Insightful Posts He experienced the growing trend of “slow travel” on a recent summer family vacation. He found relaxation on a slow boat cruise on the Mekong River in Laos and was delighted to see The Trail Take advantage of this trend. From slow travel to slowing down life, Anders is excited about the following platforms: Rolls and Land dwellersOffering unique boutique holiday experiences for those who want to disconnect from the world. He also noted the resurgence of personalized travel services among younger generations seeking customized experiences. Anders also highlighted how innovative partnerships are reshaping the travel industry. Companies are increasingly focusing on building direct customer relationships and providing more integrated and valuable experiences through these collaborations. He analyzed five key partnerships that embody this trend. Read +.
exist Why Agents Are the Next Frontier in Generative AI, McKinsey highlights how Gen AI is evolving into AI “agents” that act as virtual colleagues, using the underlying model to perform complex, multi-step workflows, such as planning and booking a complex, personalized travel itinerary. Using everyday language, engineers can describe new software features to programmer agents, who will then code, test, iterate, and deploy the tools they helped create.
-
Flight time propose Series D financing of US$225 million and $70 million in debt, bringing the total financing to more than $500 million. This round of financing values FLYR at $900 million and was led by WestCap, with participation from BlackRock, Streamlined Ventures and Abu Dhabi Investment Authority.
-
Land dwellers Proposed 10.3 million euros in Series A funding The Danish startup was founded in 2021 by a group of co-founders who previously worked together at Airbnb. It has 3,000 carefully selected premium vacation rentals and has expanded from Denmark to Norway, Germany and Sweden.
-
Wizz AirEurope’s seventh largest airline has launched Europe’s first unlimited flight subscription serviceoffering unlimited flights across our entire network. Work with subscription experts Caravelloa plan that costs €499 per year (soon to rise to €599) and allows subscribers to book flights up to 72 hours before departure.
I am opening up newsletter sponsorship opportunities for 2025. If you are interested in reaching a target audience of travel technology professionals, please fill out This formThese tickets usually sell out months in advance, so if you’re interested, I recommend acting quickly.
If you are a startup looking to raise a round of funding (from Seed to Series D), I can help (for free). Tourism Investors Network is a private platform where I recommend innovative travel startups to investors and innovators. If you are interested, please Fill out this form.
explore 1370 open positions Stay ahead of the curve on Travel Tech Essentialist’s curated job board by subscribing Work reminders. Here is a brief overview of the board positions:
→ Join a Talent Network. Recruiting companies sometimes ask me to help them find the best talent. If you would like me to follow you and introduce you to the right opportunities, Join a new talent network (Takes 3 minutes).
→ If you are considering career advancement, are simply curious, or are an HR professional seeking insights into your work, subscribe to my Travel Technology Jobs communication.
If you like Travel Tech Essentialist, please consider sharing it with your friends or colleagues. If you haven’t subscribed yet, you can subscribe here:
As always, thank you for trusting me with your email.
Mauricio Prieto
