Travel Tech Insider

The season finale is here! Episode 10 wraps up with some special guests to help us check in on the latest goings-on among all the hot topics we covered in Season 1. Cliffhangers abound...What's next with NDC, loyalty program changes, regulatory trends, and all things AI? Luxury and Zillennials, venture capital funding (or lack thereof?) and the future of destination marketing are all looking a little different from when we covered them just months ago.Thanks to Friends of the Pod Janette Roush, Daniel Green, Tiffany Funk, Bobby Demri, Michael Levinson, Zach Demuth and Paul Tilstone for sharing your thoughts with us!And a special thanks to our fabulous producerZach Vanasse for serving as maestro for this little endeavor.Catch the latest episode below and stay tuned for season 2 this summer!Follows:Gilad Berenstein – host Cara Whitehill – host Bobby Demri – guest Zach Demuth – guest Tiffany Funk – guest Daniel Green – guest Michael Levinson – guest Janette Roush – guest Paul Tilstone - guest

This week we continue our deep dive into what we know so far about AI, and how it’s being used, being disruptive, being overestimated and perhaps underestimated across the travel ecosystem. In our last episode we spoke to two startup founders who have incorporated AI into their applications to get the perspective of the early-stage company and how AI is changing the landscape for these new players.Today we talk to two leaders from the other end of the spectrum, Marilyn Markham of AMEX Global Business Travel, and Shane O’Flaherty of Microsoft, to hear how the big guys are tackling the opportunities presented by AI. While they may have far more resources than the startups we talked to, they face many of the same questions on where and how to deploy AI, what use cases are best suited for it, and finding the discipline to treat AI as one of many tools in the toolkit.The build vs. buy vs. partner question is front and center with these larger enterprises. While they may have considerable resources to deploy toward building their own proprietary AI-based solutions, it’s not always the most efficient path given opportunity costs, skill sets, and layers of organizational prioritization that have to be navigated. This creates some interesting opportunities on the buy and partner side of that decision where smaller startups and specialists can find traction (and our guests share some good tips for making that process work!)Finally, datasets, frameworks, governance, talent and learning processes are all of paramount importance for mapping out an AI strategy — whether you’re a massive enterprise or a lean startup.Follows:Gilad Berenstein - hostCara Whitehill - hostMarilyn Markham - guestShane O'Flaherty - guestGo Deeper:How Travel Companies Can Use Generative AI as a Strategic Advantage - PhocusWireAI: How Carriers Are Using Artificial Intelligence To Optimize Cost Reductions & Operational Efficiencies - Simple FlyingThe Monk Who Thinks the World Is Ending - The Atlantic [$]Air Canada Ordered to Pay for Its Chatbot’s False Info - Skift5 ways CIOs can help gen AI achieve its lightbulb moment - CIO

It’s been a little over a year now since ChatGPT burst on the scene like a cannonball into a pool, soaking us all. The initial waves have settled down, giving us a chance to see what kind of ideas and applications are making the best use of this fascinating technology. And while AI isn’t exactly new, the democratized access to it that ChatGPT introduced means virtually anyone can make use of large language models and generative AI tools without needing a PhD.This expanded access in turn is driving the early commoditization of a sophisticated technology, making it even cheaper to incorporate into all aspects of business. It’s unlocking innovation and reducing barriers to entry in a similar way that cloud computing did in the Web 2.0 era, and the internet did for Web 1.0. The ability to hoard teams of engineers and data scientists is no longer the moat it once was. It’s still early days, though, and there is a lot of runway yet to travel. Joining us for part 1 of our deep dive into the state of AI in travel are two startup leaders operating in this rapidly evolving space, Andrei Papancea, CEO and Co-Founder of NLX.ai, and Stephanie Daniel, CEO and Co-Founder of  Legends.Follows:Gilad Berenstein - hostCara Whitehill - hostAndrei Papancea - guestStephanie Daniel - guestGo Deeper:The promise of travel in the age of AI - McKinsey9 Months Into the GPT Era, What Has Travel Learned? - PhocusWireHumans at the heart of generative AI - MIT Technology ReviewAsk Skift: the AI Chatbot to Answer All Your Travel Industry Queries - SkiftTravel Early Adopters Share Lessons After Year With Generative AI - PhocusWireHow AI is disrupting the luxury experience - Jing Daily

The way we travel has evolved pretty dramatically since the pandemic. The traditional “Dream/Plan/Book/Go/Share/Repeat” lifecycle has essentially been replatformed as a result of macro trends like the shift to remote work, multiple rounds of stimmie checks, a growing loneliness epidemic, and an acute appreciation for authenticity and sustainability in the travel brands we engage with. We have more time, more money, and more desire to see the world, and we want to do it on our terms.We’re also seeing the stratification in how different generations of travelers are engaging across that travel lifecycle. The “zillennial” demographic (short-hand for the younger millennial and Gen Z crowd that came of age as digital natives) skews more heavily toward social commerce as its preferred platform for researching, planning, buying and sharing their travel experiences. This shift to social commerce is introducing a host of new challenges and opportunities for brands when it comes to attracting and cultivating relationships with an audience that promises to travel more, and more differently, than their older Millennial, Gen X, and Boomer counterparts.So in today’s episode, we dive in to what exactly social commerce is, how it differs from the more traditional approach to travel marketing and engagement, what brands and startups are at the forefront of this evolution, and how legacy travel players should think about the implications on their marketing strategy.Follows:Gilad Berenstein - hostCara Whitehill – hostKonrad Waliszewski – guestShir Ibgui - guest Go Deeper:Gen Z: The generation that knows how to make the most out of travel, BankrateGen Zers and millennials get travel right. Here’s their recipe for the ultimate vacation, FortuneGen Zs don’t have a lot of money, but they’re traveling anyway, CNBCLatest Trends in the Travel Industry Among Gen Z & Millennials, MarketcastGen Z Is Poised to Reshape the Travel Industry, MorningConsult [$]Report: The State of Student and Youth Travel in 2023, StudentUniverse

The loyalty program as we know it was pioneered by American Airlines over 30 years ago. A lot has changed since then. As travel has become commoditized in many areas, suppliers and retailers have become more innovative and creative about attracting, retaining, and rewarding customers. While customers have become savvier about maximizing and sometimes even gaming the system. The premium credit card companies have added their own layers of complexity. And of course, the pandemic accelerated many changes to the structure of loyalty programs that were already being tested.So what does the state of loyalty look like in travel today and where is it heading? How do brands think about lifetime value, rewards, and community? How is that changing with the increased focus on Gen Z and millennial travelers? In an environment where nearly everyone has some form of “elite” status and loyalty points as a currency can get devalued, what exactly are travelers “loyal” to anyway?And what are the most innovative brands in our industry doing about it? Innovations that include traditional loyalty offerings but go much further with subscriptions, personalization, and more.We talk to two experts who have the inside scoop on what loyalty means in travel these days.Follows:Gilad Berenstein - hostCara Whitehill - hostBrett Catlin - guestRyan Smith - guestGo Deeper:Travel invented loyalty as we know it. Now it’s time for reinvention. / McKinseyWhy I Won’t Chase Airline Status, The Points GuyThis luxury hotel group wants to charge you $200 to join its loyalty program—it just might be worth it, Fast CompanyU.S. to Investigate Airline Loyalty Programs, SkiftToo many elites: Why you might want to be a free agent and skip elite status next year, The Points GuyAlaska Airlines Debuts Subscription Model for Flights - Skift

To paraphrase Lenin (Vladimir, not John), “there are decades where nothing happens, and then there is NDC”. For those of us who have worked in travel tech for more than a few years, it may feel like decades are suddenly happening in months, if not weeks.And it’s not just technology innovations like NDC and AI that are shaking things up. The pandemic gave many companies breathing room to experiment with new commercial models that give their businesses more solid footing to ride out unexpected economic dislocations like Covid, as well as more evolutionary changes to the industry.The agency model in particular (both corporate and leisure) is facing disruption from multiple angles. Suppliers are testing social commerce channels and moving budgets away from traditional paid advertising like Google and metasearch players. Loyalty programs are shifting from usage-based points earn to spend-based status tiers. Subscription models and membership programs are gaining traction in surprising new corners.What does all this turbulence mean for the traditional supplier, agency and distribution ecosystems, not to mention ad-based models like metasearch and Google that have dominated budgets? What will the travel world look like once these new commercial models take hold, and who will be the winners and losers?We’ll talk to two experts who weigh in on some meaty topics: NDC to the rescue? The future of the GDS…is there one? The next gen distribution model: lower costs, higher prices, more value Subscription v. transaction models The impact of AI on new commercial models: packaging, personalization, ancillaries and service The emergence of social commerce channels and new types of travel sellers: is this the end of the OTA as we know it?Follows:Gilad Berenstein - hostCara Whitehill - hostJeff Klee - guestAlice Ferrari - guestGo Deeper:ASTA continues public fight with American Airlines - TravelWeeklyFor Amex GBT, NDC Takes A Village And 162 Items To Solve - The Beat [$]CitizenM Looks for Emotional Connections Through Fledgling Subscription Model - SkiftInfluencers and Social Commerce in Travel - PhocusWireTripadvisor Plus Is Case Study in Online Travel Hype - SkiftHow Influencer Content is Reaping Rewards for Travel Companies - PhocusWire

The luxury travel segment has always been about high-touch service and premium experiences. In a rapidly changing post-pandemic world where AI turns the service model upside down, over-the-top experiences collide with sustainability concerns, and a renewed appreciation for authentic engagement fosters an even more fragmented landscape of travel providers, what does that mean for the luxury market?In this episode, guests, Stuart Greif, Chief Innovation and Strategy Officer at Forbes Travel Guide, and Jim Bendt, owner of Pique Travel, a luxury travel agency in Minnesota, join the pod to share their unique perspective on the future of luxury travel.It’s a segment of the market that is challenging its own traditional ideas, welcoming new and different types of travelers and experiences, and diving into new technology with both feet.What exactly is “luxury travel”, anyway?The intersection of high touch and high techWhat does the “Connected Trip” mean in a new AI-driven worldCan luxury travel be sustainable?Who is the luxury traveler? It might not be who you thinkFollows:Gilad Berenstein - hostCara Whitehill - hostStuart Greif - guestJim Bendt - guestGo Deeper:Trend Report: What We Learned at Virtuoso Travel Week 2023 VirtuosoCan Luxury Travel Be Sustainable? Sustainable Travel InternationalGen Zs don’t have a lot of money, but they’re traveling anyway CNBC8 things to know about the future of luxury travel The Points GuyFuture of luxury travel: The latest trends shaping the luxury travel industry Deloitte

When it comes to sexy startup ideas, the travel sector usually ranks at the head of the class. Nearly everyone travels, and thus can relate to the pain points that stem from the challenges inherent in an industry driven by legacy tech platforms, fragmented data, and unsophisticated business models. It’s an industry desperate for disruption.Even so, travel startups tend to get the side-eye from most VCs — despite spawning two of the most disruptive startups in the past decade in Uber and AirBnB. What is it about travel that makes it so tough for startups to get VC funding? Are there alternatives to VC worth exploring, or should we look for ways to repositioning travel startups to make them more enticing for VC investment?In this episode, we chat with Chris Hemmeter, Managing Director of Thayer Ventures, the leading venture firm focused on travel, transportation and hospitality innovation, to get his perspective on why venture is challenging for travel startups, what he’s most intrigued by, and his advice for founders in the sector as they build and scale their companies.Being thesis-driven vs. opportunisticThe role of the strategic LPAre travel startups “VC-able”? Or do they need a re-brand?Is corporate venture a viable path in lieu of institutional VC?How do you create “alpha”, the value-add superpowers you bring that other VCs can’t match?Is venture capital the right answer? If not, what is?What’s exciting on the travel tech investor horizon?Follows:Travel Tech Insider podcastGilad Berenstein - hostCara Whitehill - hostChris Hemmeter - guestGo Deeper:Travel Startups: Disruption From Within? McKinseySo many great Travel Tech startups with so few Venture Rounds Gilad Berenstein, LinkedINDo You Need Venture Capital? PhocusWireTop Travel VCs on Opportunities and Challenges for Innovation, Fundraising PhocusWireThe Travel and Mobility Tech Sector Attractiveness Report Lufthansa Innovation Hub and TNMT

Destination marketing is one of the biggest forces powering the travel industry that we rarely talk about. It’s the Goliath economic influencer hiding in plain sight, using its invisible hand to directly and indirectly guide the way we think about where to travel, how to travel, and what we do once when we get there.And it’s an industry in tremendous flux: Covid, “revenge travel”, rising interest rates, stimmy checks, overtourism, the ‘work from anywhere’ trend, sustainability, war, Gen Z & the influencer demographic, TikTok and (of course) AI have all had an impact on how destinations position themselves to their various constituencies.How are destinations managing this revolution in their business? Guests Dr. Richie Karaburun of NYU’s Tisch Center of Hospitality and Rafat Ali, founder of travel trade media outlet Skift, join the pod to talk about the places and institutions leading this next generation of destination marketing, how to address ethical concerns with tourism, and how technology is creating new approaches to influencing where and how we travel.Destination Marketing: bigger than you thinkDestinations as products, destinations as brandsAre we over overtourism?What does “sustainability” mean for a destination?Making the pie bigger: how are destinations expanding their focus on inclusivity?Technology: AI, TikTok, personalization vs. mass marketIs tourism a force for good?Follows:Travel Tech Insider podcastGilad Berenstein - hostCara Whitehill - hostDr. Richie Karaburun - guestRafat Ali - guestGo Deeper:Destinations International organizationArchitects of Destination Advocacy podcast by Destinations InternationalSkift Tourism Skift’s hub for destination marketing & tourism coverageMesa recognized as one of the most accessible destinations by travel booking app AZ FamilyNYU SPS Tisch Center of Hospitality, Destinations International collaborate **Hotel ManagementDestination organizations: Supporting the tourism industry, sustainable travel, and more HospitalityNet

Guest Mark Farrell joins the pod to talk about balancing the need for innovation against the need for regulatory guardrails to keep us safe and ensure fair competition.Mark is uniquely qualified to weigh in on this topic given his role as Managing Director at Thayer Ventures, a leading VC firm focused on the travel, transportation and hospitality sector, and his prior experience in government as a former San Francisco Mayor and City Supervisor. His time in politics coincided with the emergence and rise of Uber, Lyft, and AirBnB, giving him a front-row seat to this exact battle.We dig in to a number of juicy topics:Lessons learned from his experience with Uber, Lyft and AirBnBThe perspective of regulators, what their objectives are and what they need from the private sector in order to do regulation rightHis recommended playbook for startup teams on how best to engage with regulatory authorities in a constructive wayWhat does the regulatory environment look like for current innovations like AI and driverless vehicles in these early daysWhy politics can be a rewarding path, and why it’s so critical that we get more technology brains into government at all levels