27th November 2024: Here are some of the stories that caught our attention over the week with some of our takeaways.
Family Travel’s New Frontier: Learning from the $850B Kids Industry: Global Kids Hospitality Report analyses the under-served market of children and teens in the hospitality industry. It argues that hotels, especially luxury city hotels, significantly undervalue the lucrative family travel market.
With all that we have started hearing about Gen Alpha and their impact on travel buying decisions, this report reconfirms the growing influence of children on family travel decisions and suggests that hotels can increase revenue and loyalty by implementing small, impactful changes tailored to children and teens. It also suggests learning from successful “kids industries” like gaming and toy companies to create engaging experiences.
I love this excerpt which says a lot “What do kids get? The same old crayons and a coloring book. A cookie. A robe. A teddy. A tent… Representing a serious lack of imagination, nothing at all for teens and a wasted opportunity.”
Some of the findings of the report include:
- Family travel constitutes 30% of global outbound tourism and is the fastest-growing segment.
- Families stay longer, spend more on amenities, and exhibit high loyalty.
- 77% of parents are influenced by their children when choosing vacation activities.
- 67% of families get their travel ideas from their children.
- Kids establish brand loyalty by age 7.
- Gen Z (teens) are highly influential, shaping family decisions and actively promoting their experiences on social media.
- ‘Kids Industries’ are worth nearly $850 billion globally.
Absolutely well worth a read for hotels that have potential for family travel.
Travelzoo tips growth in multigenerational travel for 2025: Our next story from reported by Travolution also highlights the growth potential in family travel. Travelzoo has predicted five key trends for next year, including continued demand for multigenerational trips, further interest in “authentic” local experiences and a growth in train travel.
Renaissance Hotels Fuels Local Discovery on a Global Scale with the Debut Of ‘R FINDS’ Digital Marketplace: Renaissance Hotels by Marriott recently launched a global a global digital marketplace. Beginning with 175+ products representing Renaissance Hotels’ 175+ properties across the globe, R FINDS aspires to be a cultural bridge that brings the soul of each property’s neighbourhood to travellers everywhere, offering exclusive access to hidden gems and small businesses around the globe. A really interesting concept and experiment that combines destination experiences with shopping and local culture. One to watch!
Rise in direct sales and low cost carriers are keeping intermediaries on their toes: Web in Travel reports that the airline industry is undergoing a significant shift as major airlines ramp up their efforts to sell directly to travellers, in an attempt to bypass intermediaries like online travel agencies (OTAs) and Global Distribution Systems (GDS). From low cost airlines that want to become OTAs, such as AirAsia MOVE to Wego that has been making the transition from a metasearch model to an OTA, it covers lots of fascinating changes within the entire travel ecosystem.
How online travel companies in Asia use livestreaming to drive engagement – and bookings: Phocuswire reports that livestreaming in travel has become one of the marketing success stories of the past decade, driving billions in sales for companies like Trip.com and Alibaba.
Edison Chen, vice president of destination marketing and strategic alliance at Trip.com Group said the group’s livestream series has now generated a total of $2.5 billion in sales, with more than 16.68 million orders and an audience of two billion viewers globally. Hotels and packages are the best revenue generators, according to Chen.
