The 2024 theme: The New Age(nts)
Something is different this year. It’s true that The Phocuswright Conference typically addresses the forces that impact and reshape the travel industry; for a sector as dynamic as travel, it’s natural that we would take this approach. But this time around, it’s more than that. New agents of change abound as a new age of travel beckons. Travel distribution is being totally upended, as new players and paradigms exert their influence, and the tussle for control over content, the customer and their allegiance reaches a new level of intensity. And much of it is being fueled by technology that will have morphed into something appreciably more powerful by the time you’re done reading this.
A New Age
Where Google once dominated at the top of the funnel, social platforms like TikTok and Instagram are now in the mix. Disruptive, AI-powered conversational search now serves up smarter, more personalized travel inspiration and recommendations. Meanwhile, airlines are embracing NDC to differentiate content across channels aiming to personalize offers, as legacy systems and the once-dominant GDSs are increasingly being squeezed in this new distribution dynamic. Hotels often follow the airlines’ lead. Can they be far behind in their quest to regain some control over distribution? Brands outside the traditional travel ecosystem – including big-box retailers, financial institutions and loyalty clubs – are firmly in the game, redefining what it means to be an online travel agency. With myriad influencers, content sources and new pathways now leading to the purchase, travel businesses must know where they stand and make some bold choices to keep up.