98 – Focus meetings are brutal
📈 Major OTAs collectively increased marketing spend by 5% last year, reaching $17.8 billion. Booking and Expedia lead, followed by Airbnb and Trip, with Booking dedicating 31% of revenue to marketing. The increase in OTA marketing budgets reflects the competitive nature of the travel industry and the importance of visibility in a crowded market. Amazon's test to redirect shoppers to brand sites for unavailable products could influence OTA-hotel relationships. Alexa's new generative AI feature, Alexa+, has potential impact on voice assistant utility. Focus in projects requires defining tasks to stop, not just tasks to do, as emphasized by Steve Jobs' approach to innovation.
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