Focusrite's First Webinar on Travel Technology and Innovation Trends

Introduction

Presenter: Mike Coletta, Manager of Research and Innovation at Focusrite
Purpose: Discuss annual series of travel technology and innovation trend reports
Participants: Veteran travel industry analysts who authored the Trend reports
Availability: Reports available in the Online Library for research clients
Webinar Structure: Overview of trends with 5 minutes per analyst; Q&A at end

Launched Innovation content practice and Trend reports
Retired; Mike Coletta succeeded him
Key learnings from Bob: travel distribution, airline tech, NDC, Edge Computing, and AI

Authors: Robert Cole, Norm Rose, Kathy Scatina Walsh, Lori and Cilio, Adam Glickman, Hollis Thomas
Specific Trends Covered:
- Robert Cole: Future of Social Media Influencers and Social Commerce in Travel
- Kathy Scatina Walsh: Green Travel Innovation (x2), Generative AI
- Norm Rose: Web 3 in Travel
- Lorraine Cilio: Outsiders Entering the OTA Market
- Adam Glickman: Real-Time Revolution in Hotel Operations
- Hollis Thomas: Evolution of EV Tools

Goal: Efficient direct consumer relationships for brands
Challenge: Integrating media content, products, and data; fragmentation in travel industry
Approach: Engaging influencer communities; data-driven analytics
Example Platforms: Ltk, Flip 2

Context: Enormous growth in air travel, environmental consequences
Current Issues: Over tourism, strain on resources, global GHG emissions
**Points of Focus: **Build back better post-pandemic, increasing regulation, government investments
Recent Initiatives: Glasgow Declaration, Toulouse Declaration
Barriers: Carbon offsets, sustainable aviation fuel, electric vehicle infrastructure, short-term vs long-term goals
Business Impact: Sustainability drives better financial performance

Context: Tech evolution from initial focus on blockchain to broader web 3 applications
Potential: Transforming legacy tech constraints in hospitality, airline distribution, OTAs, and TMCs
Applications: Direct distribution, creating NFTs, dedicated travel industry blockchain
Key Companies: Accenture, Microsoft, World Economic Forum

Context: Online travel agencies (OTAs) represent significant market portion
Trend: Non-travel brands and financial institutions leveraging white label OTA offerings
Examples: MasterCard, Capital One, JPMorgan Chase, etc.
Goal: Customer loyalty and retention, providing added value
Consumer Perspective: Increasing convenience, loyalty program integration
Market Impact: Further market fragmentation

Transforming Travel Cycle: From inspiration to booking and in-destination
Current Use Cases: Personalized recommendations, customized previews
Shopping and Booking: Natural language interfaces vs traditional input forms, personalization, NDC
B2B Impact: Optimization of websites, sales and marketing copy, advertising, and discoverability
Future Directions: Visual interfaces, autonomous agents
Competitive Landscape: Google vs ChatGPT and Microsoft

EVTOLs: Electric Vertical Takeoff and Landing Aircraft
Application: Urban Air Mobility (UAM), first and last mile transport
Airline Involvement: Investments from major airlines like American, Delta, United
Challenges: Certification, infrastructure, consumer adoption, sustainability
Market Potential: Estimated to reach $500 billion

Core Principle: Translating data into actionable insights for operators
Application: Tailored data for different hotel staff, optimizing labor and productivity
Trends: Automation, streamlining tasks, enhancing service experiences
Team Member Focus: Communication and engagement platforms

Concept: Integrating multiple services into one app for daily use
Challenges: Anti-Trust issues, privacy concerns, western consumer behaviors
Western Adaptations: Uber, PayPal, Revolut experimenting with super app features
Key Ingredients: Daily usage, fintech integration, gamification