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Travel Tech Trends Presentation by Janak Patel
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- 2. 2 About Us We are a monthly meetup in Austin, TX meeting on a variety of topics surrounding the travel tech industry! Miss a meetup? Connect with us via the monthly podcast, blogpost with notes and links, and the deck shared through slideshare. Meet Up Podcast Blog post Slideshare
- 3. 3 Why Travel Tech? • Legacy systems are ripe for tech disruption • Complex industry • Lack of travel tech network • Need for knowledge sharing • Tough Industry to break into • All boats rise Source: skift.com/traveltech250
- 4. 4 Who are we? Daniel Senyard • CEO @ Compl.ai • 4 years in Travel Tech • 8 years in Startups • EIR @ Capital Factory • Mentor Startup Advisor @ Capital Factory and @ DivInc (Soon @ Station) • Podcaster (starting in 2008) • Used to be able to dunk
- 5. 5 Welcome Janak Patel Hotels - Behind the Curtains of the Hospitality Industry
- 7. 7 What is My Journey? Career 15 YEARS Over 15 years have invested in: Best Western, IHG, Hilton, & Starwood flagged properties Projects MOST RECENT Turnaround of The LaSalle Hotel and Downtown Elixir Hotel Investor PASSION Hotel investor with a passion for Travel Tech 2003 MY FIRST 2003 invested into my first hotel partnership
- 8. 8 Overview: Operation Hotel Demystification • Industry overview • How the industry is segmented • Who the major players are • Follow the money • Hotel trends ripe for innovation and opportunity
- 10. 10 Why are hotels relevant to Travel Tech?
- 11. 11 How Hotels are Classified 01 02 03 04 Economy vs Limited Service vs Full Service Location beach resort, casino hotel, downtown convention hotel Ownership franchise corporate owned Star Rating
- 13. 13 OTA’s - (Online Travel Agency) Commissions are between 15 - 20%
- 14. 14 Major Hotel Ecosystems Major hotel subrands fall under these family trees 12% of revenue is typical franchise fee
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- 18. 18 Big Data: What are Hotels Doing About it? Hotels with big data efforts underway increased 8% from 2016 to 2017. Learning More: 55% Not Considering: 37% Executing Project/Program: 8% Exploring via Pilots: 5% 63% 55% 2017 2016
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- 22. 22 Obstacles - Be prepared! Hotel’s top two challenges are lack of IT budgets and burdensome infrastructure.
- 23. 23 Questions every Hotel Tech startup should be asking How do I help a hotel: • Use data to personalize the guest experience • Gain an edge over competing brands? • Increase value of loyalty clubs • Brands get more direct bookings • Create an experience • Deepen hotel’s connection to ‘local’
- 24. 24 Sources & Resources American Hotel and Lodging Association - AHLA.COM Hospitalitynet.org FuelTravel.com HospitalityTech .com
- 25. 25 Get in Touch Janak Patel @janak.atx jmpatel99@gmail.com linkedin.com/in/janpatel/ Travel Tech ATX https://www.meetup.com/ATXTravelTech
- 26. 26 Thanks for Coming TRAVEL TECH ATX