The Internet helps people plan the trip of their dreams, find a perfect hotel and reach their destination. Currently, travelers are becoming more comfortable with online booking sites that allow to plan their trip, book their hotel with online tools that leads to saving a lot of time and energy.
The online booking industry has been affected by technologies, which are rapidly growing and opts for online management software tools that handle their data through a booking widget which helps them increase productivity, improve cost efficiency and manage their operations in an effortless manner.
Travel industry market outlook
Travel websites and mobile apps have been making digital travel arrangements increasingly easy. Nowadays, travelers prefer to plan and book their travel arrangements beforehand, quick and convenient checking in and receiving flight/hotel information, online payments, price comparison, viewing itineraries, etc. This means the online travel providers should focus on making a seamless online travel planning and booking process that will lead to gaining more revenue.
The timeline above shows the worldwide revenue generated through online travel bookings will reach 694 billion U.S. dollars in 2018. The revenue from online travel bookings is predicted to garner 818 billion U.S. dollars in 2020.
The key trends in the online booking industry
- Mobile booking. More smartphone users as well as the global market share of mobile devices are constantly growing. That means mobile devices are becoming more and more indispensable elements of our everyday life and the use of mobile apps when booking will soon become the norm that will help to simplify the process.
- Online travel agencies (OTAs) market share. The growth of OTAs is increasing. They provide solely travel related services, offer trusted reviews and accurate local information.
- Predictive Pricing. Online booking providers mark the predictive pricing allows travelers to see when it will be cheapest for them to travel. This is an extremely beneficial for business also to predict when demand will wax and wane throughout the year.
- The Ability to Chat. Travellers are becoming more net savvy and more interested in receiving an instant response when booking. Online booking service providers can offer a chat feature to guide their travelers through the booking process that will increase engagement and communication.
- Direct Booking. Online booking service providers should focus on selling their services without intermediaries or third-party involvement. This allows them to strengthen their brand on the market and encourage already acquired travellers to return.
Travelers’ everyday habits and preferences are radically changing. They do not want to leave their houses to get what they want and they expect to enjoy such conveniences during their stay. Mentioned above trends point at the direction of providing better customer experience and simplifying booking process.
DDI Development company has a great experience in building digital solutions for travel businesses and can implement it that will make your company stand out from the competitors.