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TTC16: Gadi Bashvitz - Travel Booking. Personalized

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Gadi Bashvitz on travel personalization

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TTC16: Gadi Bashvitz - Travel Booking. Personalized

  1. 1. 1 © Copyright 2014 OLSET. All rights reserved. Travel Booking; Personalized GADI BASHVITZ CO-FOUNDER & CEO GADI@OLSET.COM WWW.OLSET.COM @OLSETINC
  2. 2. 2 © Copyright 2014 OLSET. All rights reserved. Personalization is everywhere
  3. 3. 3 © Copyright 2014 OLSET. All rights reserved.
  4. 4. 4 © Copyright 2014 OLSET. All rights reserved. The impact of personalization in Retail 0% 5% 10% 15% 20% 25% 30% 35% Amazon Standard conversion rate Personal recommendations conversion
  5. 5. 5 © Copyright 2014 OLSET. All rights reserved. But not in travel booking…
  6. 6. Hotel attach rates for OTAs & TMCs are very low (For OTAs <2% on average) (For TMCs <20% on average) The state of conversions in travel 6 © Copyright 2014 OLSET. All rights reserved.
  7. 7. Why is this the state of the industry? 7 © Copyright 2014 OLSET. All rights reserved.
  8. 8. OLSET provides OTAs, TMCs and other travel providers with a set of APIs which enable you to harness the power of personalization to improve hotel booking conversion and drive hotel attach rates The solution 8 © Copyright 2014 OLSET. All rights reserved.
  9. 9. 9 © Copyright 2014 OLSET. All rights reserved. OLSET is here to help! Create Traveler Profile – known or anonymous Enrich hotel inventory Matching Algorithm Personalized Recommendations Largest global sentiment DB (>200Mn)
  10. 10. Reviews are the #1 driver for bookings August 27, 2013 - Kelly A McGuire, PhD, Breffni M. Noone, PhD. Reviews 312 (80.6%)Price 173 (45.2%)
  11. 11. Industry Example 11 © Copyright 2014 OLSET. All rights reserved.
  12. 12. Let’s look at a simple example Expedia • 51% of travelers who book select one of the first 5 hotels • 95% select hotel on first page ORBITZ • 47% of travelers who book select the 1st hotel • 93% select hotel on first page 12 © Copyright 2014 OLSET. All rights reserved.
  13. 13. But what about the 97% who didn’t book? 13 © Copyright 2014 OLSET. All rights reserved. Let’s assume that 70% were just browsing
  14. 14. This leaves 30% - only 1 in 10 book! 14 © Copyright 2014 OLSET. All rights reserved.
  15. 15. Example 3 different traveler types get the exact same recommendations on Expedia today 15 © Copyright 2014 OLSET. All rights reserved.
  16. 16. Expedia – Luxury Traveler
  17. 17. Expedia – Business Traveler
  18. 18. Expedia – Budget Traveler
  19. 19. If Expedia used OLSET’s APIs the results would look very different and would be personalized for each traveler 19 © Copyright 2014 OLSET. All rights reserved.
  20. 20. Personalized recommendation for Luxury Traveler
  21. 21. Personalized recommendation for Business Traveler
  22. 22. Personalized recommendation for Budget Traveler
  23. 23. Superior conversion metrics OLSET generated 13% higher margin per session and 16% higher conversions than did baseline “Top 3” EU online travel agency’s baseline product Resulting in an (estimated) uplift of $2mm in quarterly bookings and higher margins $$ 23 © Copyright 2014 OLSET. All rights reserved.
  24. 24. A / B t e s t s h ow s 10.4% higher conversions for OLSET Proven superior conversions 24 © Copyright 2014 OLSET. All rights reserved.
  25. 25. Driving hotel bookings in all channels Direct hotel bookings Hotel dynamic packaging Post flight cross sales Hotel attach rate 25 © Copyright 2014 OLSET. All rights reserved.
  26. 26. The future of automation & personalization Omnibooking Automated text & calendar driver booking 26 © Copyright 2014 OLSET. All rights reserved.
  27. 27. Where do we go from here Hotel Direct Airline cross sell Destination Services Unmanaged Travelers 27 © Copyright 2014 OLSET. All rights reserved.
  28. 28. The team it takes to build these solutions Recommendation Engine Scalable Enterprise Architecture Sales and Business Development 28 © Copyright 2014 OLSET. All rights reserved. • 6 Engineering • 1 Product • 1 Marketing • 1 CEO
  29. 29. 29 © Copyright 2014 OLSET. All rights reserved. Thank You GADI BASHVITZ CO-FOUNDER & CEO GADI@OLSET.COM WWW.OLSET.COM @OLSETINC

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