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Last week’s Update features a variety of stories, including updates on several platforms that we don’t routinely cover – Kakao, Agoda and Trip.com. Enjoy.

Kakao Expands Ride-Hailing Offerings
(“Kakao Mobility Partners With Splyt to Expand Transportation App,” May 13, 2022 via Phocus Wire)
Last week, South Korean mobile platform Kakao announced a new partnership with Splyt, which will expand the platform’s ride hailing services to seven additional Asian countries. Users of the app can access taxis, private cars and motorcycles. Users of the expanded app will also have access to a variety of payment platforms, including micro payments.

With earnings season upon us, it was difficult to limit this week’s Update to just 12 stories. For those of you seeking a deeper dive into the latest on online booking platforms, Expedia Group and Booking Holdings I encourage you to take a look at the Expedia Group and Booking Holdings call transcripts. Enjoy. 

Expedia Updates
(“Expedia Unveils New Strategy,” May 6, 2022 via Hotel Business)
(“Expedia Group Revenue Jumps 81 Percent as Travel Recovery Continues,” May 2, 2022 via Phocus Wire)
(“Expedia Group Revamps Marketplace, Tech Platform as Part of New Strategy,” May 4, 2022 via Phocus Wire)

Last week not only saw the release of Expedia’s first quarter earnings report, but also the hosting of Expedia’s annual partner conference – this year titled Explore. Here are my key takeaways from this past quarter’s earnings release and reported Explore highlights:

    • While Expedia’s quarterly financial performance still lagged behind 2019, recent months (starting with February) have exceeded same month comparisons to 2019.

    • Traveler demand is returning stronger than ever, despite the emergence of COVID variants, the war in Ukraine, inflation, etc. In CEO Peter Kern’s words, the recovery “seems too strong to be held down.” Demand is also starting to return across multiple segments, including CBD business and business travel.

    • VRBO continues to enjoy unprecedented success, performing now at levels above 2019. Supply constraints remain a concern, particularly in key markets.

    • Expedia’s B2B business (most notably, Optimized Distribution) continues to gain traction (particularly with the recent enrollment of IHG) and is now a major focal point for Expedia’s future growth. Expect increased interest in enrolling supplier partners of all sizes in Expedia’s B2B program.

    • When discussing Expedia’s latest quarterly marketing investments, Peter referred repeatedly to efforts now focused on developing longer term relationships with its travelers and the “lifetime value” of such travelers. According to Peter, “the industry has been very transactionally focused and we haven’t been great historically at measuring lifetime value...” Sound familiar? Sounds like Peter may have stolen a page or two from hoteliers’ song books on the real value of direct channel bookings (and their associated investments) versus the “transactional” bookings often sourced through third party online channels.

    • At last week’s Explore event, Expedia launched its new technology platform, Expedia Group Open World. This new platform will allow partners of all shapes and sizes to contribute products, services and content to the overall traveler experience.  Expedia also revealed its new reimagined marketplace, which, among other things, will now rank individual hotels (which ranking then affects display and sort order) by a new guest experience score – which takes into consideration guest reviews, customer service interactions, etc. And in a nod to Hopper and its incredible success these past few years, Expedia is also launching a price predictive tool that will allow users to track historical and anticipated future rate changes for both air (today) and hotel rooms (later this year).

Last week was all about loyalty as we saw a number of stories on the new roles that technology and online platforms are playing for hoteliers seeking to update and expand (or even launch) their loyalty programs. We include three of those stories in this week’s Update. Enjoy.

Technology Powers Loyalty Program Growth
(“IHG introduces new loyalty program,” April 13, 2022 via Hotel Business)
 (“Tech is powering the new look of hotel loyalty programs,” April 16, 2022 via Phocus Wire)
(“Fintech to Help Smaller Hotel Brands Like Selina Launch Rewards Cards,” April 13, 2022 via Skift) (subscription may be required)
This week, we feature three separate stories detailing the important role that technology (and online platforms) is playing in updating existing and launching new loyalty programs.

    • In recent weeks, both IHG and Accor have announced major updates (in the case of IHG, a complete overhaul) to their loyalty programs. In the case of IHG and its new IHG One Rewards program, the program is centered on IHG’s mobile application and now allows members to customize the rewards they receive through another online platform, Milestone Rewards. The newly constituted program, including Milestone Rewards, is expected to be available in June. Accor also recently announced changes to its loyalty program Accor Live Limitless (ALL) through a new partnership with online entertainment platform Fever, which will allow members to use their loyalty program benefits to book a variety of activities and experiences.
    • Lastly, Skift explains how fintech startups are allowing smaller hotel and travel companies (Selina) to launch new co-branded payment cards (to boost their fledging loyalty programs) in under a month. In Selina’s case, its planned card will feature cash rewards for signing up, loyalty program points and cash rebates for hotel stays. 

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Greg Duff
Editor
Greg Duff founded and chairs Foster Garvey’s national Hospitality, Travel & Tourism group. His practice largely focuses on operations-oriented matters faced by hospitality industry members, including sales and marketing, distribution and e-commerce, procurement and technology. Greg also serves as counsel and legal advisor to many of the hospitality industry’s associations and trade groups, including AH&LA, HFTP and HSMAI.

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