Tag Archives: PhocusWright

According to Phocuswright, an increasing number of companies from outside of travel are entering the online travel agency (OTA) space. This comes ahead of the 2023 Phocuswright Conference, which will be themed around what recent powerful advances in technology could mean for the future of the industry – and how travel businesses must adapt to remain relevant. Although outside players are plugging into online travel companies’ platforms, it is mainly the OTAs that will reap the rewards of this trend, according to Phocuswright: “Historically it was travel suppliers who partnered with the OTAs in a bid to supplement their core products,” said Lorraine Sileo, senior analyst, at Phocuswright.  “However, non-travel brands, such as financial institutions, retailers and loyalty clubs, are now partnering with OTAs to sell travel. “These companies now really want to get into the travel business – and technology is enabling them to do so.  Over the past two years, several have launched travel booking platforms or announced ambitious plans to do so, even though the online travel agency market is already near saturation and uber competitive.  The goal for these companies is not to gain substantial revenue directly from travel, but to keep their customers coming back, for example by encouraging card usage and giving customers more ways to earn or redeem loyalty points.  But, for the OTAs, these partnerships can be directly profitable.” This trend is set to benefit the big brands in the OTA space, as many “outside” companies will simply be tapping into their various plug-and-play models without needing much experience or expertise in the travel sector.  Here are three companies in the finance space that are now tapping into OTAs to drive loyalty …

For the first time, over 180 sales and marketing professionals in the hospitality industry came together at the Madinat Jumeirah for the region’s inaugural ‘Revenue Optimization Conference (ROC)’ hosted by Hospitality Sales and Marketing Association (HSMAI). This was ROC’s fifth global event of the year, with other ROC locations including The United States, The Netherlands, Singapore, and Brazil. The conference brought together revenue management, distribution, sales and marketing executives in the hotel industry with a programme comprising education, collaboration and innovation. Robert A Gilbert, CHME, CHA, President and CEO, HSMAI, said, “The Middle East is one of the most rapidly expanding markets for hospitality and we’re pleased to bring timely insights into revenue optimisation to the region’s hotel professionals.” The conference featured an opening keynote presentation on global consumer trends by Lorraine Sileo, SVP, Research and Business Operations, PhocusWright. Other programmes throughout the day included panels on pricing strategy, digital marketing, key revenue management topics, and did not miss on covering MiCE and the value proposition of hotel restaurants and bars. HSMAI ROC Middle East also featured an impressive partner showcase; Gold Partners included Almosafer, Cendyn and Duetto; Silver Partner included Illusions, iWTX, Jumeirah and Tajawal; among other 19 Bronze and support partners. Mona Faraj, Managing Director, HSMAI Middle East Chapter, said, “HSMAI is delighted that ROC has been so well received by both our regional and international attendees, and we are excited to showcase an even more compelling line up of speakers and discussions next year. HSMAI is committed to growing business for hotels and their partners, and we are the industry’s leading advocates for intelligent and sustainable hotel revenue growth. We look forward to further engaging with the …