Bookings Holdings reported a 4% increase in revenue to US$15.1 billion for 2019, but the travel giant is expecting a “significant and negative impact” for the first quarter of 2020 due to the COVID-19 coronavirus
According to marketwatch.com, the global online travel market is expected to grow from US$ 570.25 billion in 2017 to US$ 1.134.55 billion by 2023, at a compound annual growth rate of 13.16% during the forecast period. That is quite some $$$ we are looking at. OTA stands for: Online Travel Agent. Their websites allow consumersMeer lezen over “Why OTA’s are not good for you”
Independent hotels are disappearing as chains grow.
Online travel agencies (OTAs) are the original digital disruptors — first-generation internet businesses that identified an unmet customer need and created digital destinations that became the first stop for prospective travelers. Yet the very thing that gave rise to OTAs — the ability to aggregate digitized data to create economical, do-it-yourself travel planning — now threatens to be their undoing. As with most erstwhile digital upstarts and once-transformative business models, OTAs must disrupt again or risk being disrupted.
Even more consolidation in the OTA market as Booking Holdings acquires HotelsCombined.