September 2024: Recent trends indicate strong market growth – the Latin American online travel market is expected to achieve a CAGR of 7% during the forecast period (Mordor).
By the end of 2024, the total market revenue is forecast to reach $71.7 billion.
Recovery and expansion: Latin America has surpassed its pre-pandemic travel revenue, reaching $62.1 billion by the end of 2023, which is 29% above pre-pandemic levels
Country-specific trends:
– Mexico has positioned itself as the top tourism market in Latin America, benefiting from its proximity to the US and remaining open during the pandemic
– Colombia is expected to see 29% more international arrivals in 2024 compared to 2019
– Brazil is experiencing growth in its domestic market, with optimism from local OTAs like Zarpo
US market influence: The United States is a significant source of inbound travel for Latin America, accounting for 48% of the Latin American inbound travel market.
Domestic market strength: In many Latin American countries, the domestic market is stronger than the foreign market, particularly in aviation.
Source: Global Finance Magazine
These trends indicate a robust and evolving OTA landscape in Latin America, with a focus on technological innovation, market expansion, and adapting to changing travel patterns.
With that said, we thought it will be useful to have a handy list for the top OTAs in Latin America. As always with such lists, we will repeat the few caveats:
- Only travel companies that offer standalone hotel bookings as an option in addition to everything else including packages are listed as an OTA. There are increasing overlaps between Wholesalers, Tour Operators and the traditional definition of an OTA and hence the clarifying definition.
- An abundance of options doesn’t always guarantee success and in many cases less is more. Align your strategy with the right OTA partners, as not every OTA will work for your hotel.
- Equally, the industry is ever-evolving, with changes happening all the time. Our list is curated based on industry knowledge but we have no claims that it is comprehensive or exhaustive.
- If you feel overwhelmed by a long list of choices, conduct a thorough audit of your current channel mix. Identify any gaps and explore untapped markets where certain OTAs could be valuable sources.
- Not all OTAs however will want to work with your hotel directly. It could be because they are currently sourcing inventory for hotels in your region through another provider who is already working with you (think Expedia or Hotelbeds). Sometimes it may be because they just don’t have enough volume for your destination. Always worth finding out more…
List of OTAs
Despegar (Argentina): Headquartered in Buenos Aires, Argentina, Despegar is one of the largest online travel agencies in Latin America. Founded in 1999, Despegar focuses on providing flights, hotels, packages, and other travel products to customers across the region.
Almundo (Argentina): Almundo is an Argentine online travel agency based in Buenos Aires. Established in 2012, Almundo focuses on providing a seamless omnichannel experience, with both online and offline sales channels, to travellers in Argentina and the surrounding region.
Decolar (Brazil): Decolar is the Brazilian subsidiary of Despegar, the leading online travel agency in Latin America. Headquartered in São Paulo, Brazil, Decolar has been operating since 1999 and offers a wide range of travel services to customers throughout Brazil.
Viajanet (Brazil): Viajanet is a Brazilian online travel agency headquartered in São Paulo. Established in 2005, Viajanet specializes in providing flight and hotel bookings, as well as vacation packages, to travellers in Brazil.
CVC (Brazil): CVC is the largest travel agency group in Brazil, with over 1,200 franchise locations across the country. Headquartered in São Paulo, CVC was founded in 1972 and offers a diverse range of travel services, including flights, hotels, packages, and cruises.
Hotel Urbano (Brazil): Hotel Urbano is a Brazilian online travel agency specializing in hotel bookings. Headquartered in Rio de Janeiro, Hotel Urbano was founded in 2011 and has become a leading player in the Brazilian hotel booking market.
Zarpo (Brazil): Zarpo is a selective online travel agency and carefully selects the best hotels, resorts and inns in Brazil and around the world. They appear to negotiate rates directly with hotels and airlines to obtain significant reductions and privileges reserved for members.
Best Day (Mexico): Best Day is a Mexican online travel agency headquartered in Mexico City. Founded in 1984, Best Day offers flights, hotels, packages, and other travel products to customers across Mexico and Latin America. Part of Despegar.
Price Travel (Mexico): Price Travel is a prominent online travel agency (OTA) in Mexico, part of the larger PriceTravel Holding group and began operations in Cancun in 2000. The company is headquartered in Cancun, Mexico, with additional offices in Mexico City, Acapulco, and Puerto Vallarta.