“The biggest consumer technology successes will be in how privacy v identity manifests itself on / offline e.g. the known travel identity you refer to and has ramifications for social media as we know it,” he added.
Overwhelming or Exhilarating?
Travel tech is HOT and woven into the fabric of our life ecosystems. We will all face real conflicts balancing how we will allow our
personal data to be used. This data could be the future currency that we trade versus cash as my colleague Bob Hecht [senior advisor T5 Strategies] is predicting. If personal data is the new currency, then any business could have access to highly qualified consumers. Imagine how that may feel? Is it positive or negative? And how does a Generation Z feel compared to a baby boomer regarding exchanging privacy for convenience and experience?
Nearly every conference or event that we speak at examines distribution fees charged by companies like Expedia or Booking Holdings. We expect the love/ hate relationship to continue between the OTAs the major brands such Hilton, Marrriott, United and others. Distribution specialists [channel managers] such as Rentals United or SiteMinder have evolved to tackle this complexity.
The age of specialisation and the smart use of resources is the burden of business leaders. One observation is relatively certain, connecting to platform, putting your product on a marketplace is extremely time sapping. Who and how many employees / suppliers do you need to create virtual reality “VR” tours of your vacation rental / serviced apartment, hotel room or cooking school experience, while continuing to manage your social media and product distribution partners, other sales and marketing tasks, and of course delivering the operational side of promise? That is more juggling than at a Cirque du Soleil show.