Innovation

🏨 The Doctor of Hotel and Tourism Management (D.HTM) is a competitive, dynamic program focusing on innovation, creativity, and research skills development within the Asian hotel and tourism context. It targets academics, senior industry executives, and senior tourism organization staff, requiring a Master's degree or equivalent qualification. Offered in a mixed study mode, the D.HTM caters to mature industry leaders and educators, providing experiential exercises, seminars, and self-guided study to foster participant-centred learning.

📦 HOTREC's 2024 Hotel Distribution Study highlights Booking.com's market dominance in the European hotel sector, with a 71% OTA market share, an increase of 10% over 10 years. Direct hotel bookings continue to decrease, and OTAs underprice hotels in 40% of cases. European hotels' reliance on OTAs, especially smaller ones, is significant, with OTAs responsible for 45% of online overnight stays. The study, in collaboration with HES-SO Valais Wallis, surveyed over 3000 hotels and focused on OTA roles, advocating for the DMA to ensure fair digital rules.

🏨 In the hospitality industry, 73% of hoteliers believe AI will significantly impact their field. A study by Canary Technologies indicates 61% see AI shaping the industry now or within the next year, yet 40% think it will take longer. Investment is strong, with 77% of hoteliers planning to allocate 5-50% of IT budgets to AI tools in the upcoming year. Larger hotels are more committed, with properties over 500 rooms dedicating over 50% of their IT budget to AI. AI's potential lies in automated guest responses, revenue boosts, front desk relief, and 24/7 multilingual support. Luxury hotels, particularly optimistic, with 67% investing more than 10% of their budget in AI. The survey included over 325 North American, APAC, and European professionals from various sectors, including IT, sales, marketing, and operations.

📊 The Martech industry is witnessing a shift with key players Lytics and mParticle, founded in 2013, being acquired respectively by Contentstack and Rokt. Lytics raised $58M in total funds, a modest sum compared to Klaviyo's $778M, and before acquisition had only 26 employees left. mParticle, on the other hand, successfully raised $272M, with the latest $150M round in late 2021. Rokt's $300M investment in mParticle signifies a major influx of capital despite a 9% staff reduction over two years. These acquisitions and mergers question the viability of independent CDPs and indicate a possible trend towards re-bundling in the Martech space.

🚨 Google has issued a white paper discussing AI agents and introducing a straightforward Langchain implementation. Key points include the power of AI agents to utilize tools, plan, and act—much like human problem-solving. They require a smart decision-making model, real-world interaction tools, and a management system for planning and acting. APIs, databases, and real-time data enhance their capabilities. While platforms like LangChain and Vertex AI simplify agent creation, challenges remain in usability, interoperability, and privacy. The company has also launched a newsletter on AI and crypto, available at www.51x.ai.

🚀 Online travel agencies (OTAs) require agility to succeed, with speed in pricing decisions now critical within a volatile market where prices can change hourly. Research indicates a crucial 15-minute response window to competitor price changes. Delays can lead to lost customers, reduced profits, and damaged trust. Outdated systems and workflows, prolonged approval chains, and batch processing data systems contribute to inefficient pricing updates. Benefits of prompt action include demand optimization, margin preservation, customer retention, and market leadership. Technology investments, process reengineering, and upskilling are necessary for pricing agility. Faster response times correlate with better booking rates, revenue per available room (RevPAR), and market share. The future of pricing involves proactive strategies using machine learning and dynamic pricing algorithms. Speed is essential for OTAs to maintain competitiveness in the travel market.

🚀 The KAYAK "WTF - What the Future Travel Trend Report" predicts 2030 travel trends based on a survey of 9,100 people from nine countries, KAYAK user behavior, and expert insights. By 2030, AI travel agents will offer personalized trips, with 38% of travelers desiring flexibility and 37% preferring customized itineraries. Multi-stop trips will be prioritized, with 66% of respondents valuing travel highly. Wellness will influence destination choices, with 60% seeking relaxation. Social media's role in travel booking will grow, with 36% already inspired by platforms. Expect holographic concierges and VR in-flight entertainment, as well as a shift to lesser-known destinations due to overtourism and carbon footprint concerns. Lastly, travel loyalty programs will evolve to offer personalized rewards, with 29% of travelers desiring such benefits.

🏩 Canadian fintech Nuvei partners with Amadeus' Outpayce to integrate into Xchange Payment Platform (XPP), aiming to position Nuvei as a global leader in Outpayce's payment ecosystem. Travel businesses using Outpayce's XPP can now access Nuvei’s payment capabilities, enhancing transaction processing and security across 200+ markets and supporting 720+ local payment methods. The partnership simplifies payment processes for airlines and travel companies, promising faster implementation and advanced security measures.

🚢 Inspiretec partners with Swedish Dreamlake to enhance cruise booking for tour operators and retail travel platforms. The collaboration offers a complete cruise solution, including search, pricing, and booking across B2B, B2C, and retail. Inspiretec's CRM will also be available to Dreamlake customers. Launch is set for this Spring with an unnamed customer for online, retail, and trade channels. The integration addresses the cruise market's rapid growth and outdated booking solutions, aiming to give businesses a competitive edge.

🗺 Ecosy Travel Ltd, a sustainable travel tech startup, has been awarded B Corporation certification for its commitment to reducing the climate impact of travel and tourism through software innovation. The company, which fosters a community of eco-conscious accommodation providers, recently launched Sustainable Travel Technologies to accelerate carbon reduction in the sector. B Lab UK's executive director, Chris Turner, and Ecosy's CEO, Rebecca Thompson, both underline the significance of Ecosy's certification in driving positive change and sustainable tourism practices.