The world of travel is changing more rapidly than ever before, as consumers are inspired by low costs and social media to fly further away, more often, and for longer stays, and in general see more of the world.
This is all in addition to massive changes on the supply side with the rise of the sharing economy, downward price pressure and increased demand for diversification.
With the travel industry in such flux, long-term strategic planning can be an incredible challenge for any travel company. How can the travel industry predict ‘the next big thing’? With such global travellers, how does a hotel know where to invest next? What trending data can be safely relied on in this market?
As the world’s largest travel site, TripAdvisor is in a unique position to help the world’s travel industry better understand and react to these changes, but how does TripAdvisor play a role when its primary mission has always been to provide a voice to the traveller?
What is the value of the consumer data, what are the risks, and what are the potential benefits in terms of enhancing partner relationships? Let’s discuss.