GlobalData Survey Predicts Gen Z and Millennials as Key Recovery Group of Travel Industry

GlobalData | July 04, 2020

A new survey conducted by GlobalData suggests that younger and wealthier traveler groups will be the first to resume international leisure tourism, once restrictions are lifted. And, while people’s desire to travel post-pandemic is in no short supply, consumer confidence in the safety of actually taking a vacation right now could use a boost.
The report revealed that, even among the younger segments of today’s travelers, anxieties remain high 48 percent of Millennials (a.k.a. Gen Y) and 35 percent of Gen Z are still very concerned about the risk of contracting COVID-19.

Spotlight

The US travel space is rapidly changing. Driving this disruption are three major trends that go hand-in-hand: personalization, early stage consumer acquisitions, and mobile. Personalization is the biggest trend in travel. As of 2017, 57% of US travelers felt that brands should tailor their information based on the personal preferences or past behaviors of consumers. Google and other industry tech giants, like Facebook and Amazon, have been leading this charge through earlier, customized consumer acquisitions. The use of mobile has been paramount in the personalization of travel sales. Mobile also serves as a key platform in early customized consumer acquisitions, experiencing a 50% uptick in travel-related questions stemming from smartphones.

Spotlight

The US travel space is rapidly changing. Driving this disruption are three major trends that go hand-in-hand: personalization, early stage consumer acquisitions, and mobile. Personalization is the biggest trend in travel. As of 2017, 57% of US travelers felt that brands should tailor their information based on the personal preferences or past behaviors of consumers. Google and other industry tech giants, like Facebook and Amazon, have been leading this charge through earlier, customized consumer acquisitions. The use of mobile has been paramount in the personalization of travel sales. Mobile also serves as a key platform in early customized consumer acquisitions, experiencing a 50% uptick in travel-related questions stemming from smartphones.

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BUSINESS TRAVEL

Travel + Leisure Co. to Host Investor Day to Discuss Company Strategy and Outlook

Travel + Leisure Co. | September 02, 2021

Travel + Leisure Co. will hold its 2021 Investor Day on September 10, 2021, to provide an update on the company’s strategy and outlook. The presentation will outline the company’s strategy to grow its cornerstone timeshare and vacation exchange businesses, and to develop new business extensions to broaden its reach into the leisure travel market. The event will be hosted by Michael D. Brown, president and CEO of Travel + Leisure Co., and feature presentations by Geoff Richards, chief operating officer of Wyndham Destinations, Fiona Downing, senior managing director of Panorama, Olivier Chavy, president of Panorama, Noah Brodsky, president of Travel + Leisure Group, and Mike Hug, chief financial officer. The event will take place on Friday, Sept. 10 at 8:30 a.m. until approximately noon EDT followed by an opportunity to meet with members of the management team. A live, listen-only webcast of the presentation will be available at investor.travelandleisureco.com. The company will archive the presentation slides and the audio webcast on the website within 24 hours of the presentation, and the webcast will be available for a limited time. About Travel + Leisure Co. Travel + Leisure Co. is the world’s leading membership and leisure travel company, with nearly 20 travel brands across its resort, travel club, and lifestyle portfolio. The company provides outstanding vacation experiences and travel inspiration to millions of owners, members, and subscribers every year through its products and services: Wyndham Destinations, the largest vacation ownership company with more than 245 vacation club resort locations across the globe; Panorama, the world’s foremost membership travel business that includes the largest vacation exchange company, industry-leading travel technology, and subscription travel brands; and Travel + Leisure Group, featuring top online and print travel content, online booking platforms and travel clubs, and branded consumer products. At Travel + Leisure Co., our global team of associates brings hospitality to millions, turning vacation inspiration into exceptional travel experiences. We put the world on vacation.

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TRAVEL TECHNOLOGY

Sabre and Google Develop Industry-First AI Technology for Travel

Sabre Corporation | October 22, 2020

Sabre Corporation the leading software and technology company that powers the global travel industry, today announced that Sabre and Google are developing an Artificial Intelligence (AI)-driven technology platform that is an industry first in travel. The technology, known as Sabre Travel AI™, is infused with Google's state-of-the-art AI technology and advanced machine-learning capabilities that will help customers to deliver highly relevant and personalized content more quickly, deliver personalized content that better meets the demands of today's traveler, and create expanded revenue and margin growth opportunities. The Company is integrating Sabre Travel AI into certain products in its existing portfolio, with plans to bring those to market in early 2021.

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TRAVEL TECHNOLOGY

Travel tech Start-Up Bookaway Secures USD 46 million in Investor Funding

Bookaway | July 17, 2021

Start-up in travel technology Bookaway has secured USD46 million in venture capital from Aleph, Corner Ventures, and Entrée Capital to establish the Bookaway Group, which will bring together ground and sea transportation companies from across the world. The group has collaborated to digitalize the USD 157 billion sector, where 95% of activities remain offline (local buses, trains, ferries.) As a result, local suppliers can connect and reach even more travelers by offering an online platform for up-to-date information, reviews, and booking while increasing access to every part of the globe (over 100,000 routes and counting). Getbybus, known for providing tens of thousands of routes in and around the Balkans and Western Europe, is the first to join the Bookaway Group, followed by 12Go, which has the biggest network of local transport choices in and around South East Asia. The Bookaway Group, in collaboration with Bookaway, provides access to more than 100,000 transit routes, user evaluations, and round-the-clock assistance in 14,600 locations across 80 countries. The Bookaway Group aims to bridge the global gap between travelers and local transportation providers, allowing travelers to discover and book transportation options anywhere in the world, regardless of the language they speak or how remote the location is. Bookaway has grown from a tiny Tel Aviv start-up to one of the world's top ground transportation companies in less than four years, with plans to expand further in the United States, China, and Latin America. Since 2018, Bookaway has secured USD 35 million in Series B funding to establish the Bookaway Group, following USD 11 million in Seed and Series A funding. Aleph, a major Israeli investor, has been a loyal supporter since 2019.

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