Tag Archives: new agents

According to Phocuswright, an increasing number of companies from outside of travel are entering the online travel agency (OTA) space. This comes ahead of the 2023 Phocuswright Conference, which will be themed around what recent powerful advances in technology could mean for the future of the industry – and how travel businesses must adapt to remain relevant. Although outside players are plugging into online travel companies’ platforms, it is mainly the OTAs that will reap the rewards of this trend, according to Phocuswright: “Historically it was travel suppliers who partnered with the OTAs in a bid to supplement their core products,” said Lorraine Sileo, senior analyst, at Phocuswright.  “However, non-travel brands, such as financial institutions, retailers and loyalty clubs, are now partnering with OTAs to sell travel. “These companies now really want to get into the travel business – and technology is enabling them to do so.  Over the past two years, several have launched travel booking platforms or announced ambitious plans to do so, even though the online travel agency market is already near saturation and uber competitive.  The goal for these companies is not to gain substantial revenue directly from travel, but to keep their customers coming back, for example by encouraging card usage and giving customers more ways to earn or redeem loyalty points.  But, for the OTAs, these partnerships can be directly profitable.” This trend is set to benefit the big brands in the OTA space, as many “outside” companies will simply be tapping into their various plug-and-play models without needing much experience or expertise in the travel sector.  Here are three companies in the finance space that are now tapping into OTAs to drive loyalty …

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