TripAdvisor ( TRIP Quick Quote TRIP - Free Report) is leaving no stone unturned to provide an enhanced traveling experience to travelers on the back of strategic partnerships.
The company recently collaborated with the Official Tourism Association for Orlando, Visit Orlando, and created its first immersive audio experience in North America with the help of
Amazon’s ( AMZN Quick Quote AMZN - Free Report) virtual assistant technology named Amazon Alexa. This validates the abovementioned fact.
On the back of Amazon Alexa, TripAdvisor aims to provide travelers innovative ways to learn about Orlando and generate travel demand in the city.
Further, visitors can listen to reviews on Alexa devices or the app from travelers who visited the city before and visit must-see attractive places as well as enjoy experiences of hiking and airboat rides, celebrity-chef dining, local arts and culture along with live performances.
Along with the audio experience, the partnership includes branded content sweepstakes, bespoke itineraries, branded email, and other online and offline media promotions.
The latest move is likely to expand TripAdvisor’s reach to travelers using Alexa and planning to visit Orlando. This, in turn, might generate more bookings and hence drive top-line growth of the company in the near term.
TripAdvisor has been consistently making efforts to widen its reach to travelers worldwide with new launches and services as well as attractive deals and partnerships.
Apart from the recent partnership, the company previously collaborated with Amazon’s audiobook providing platform named Audible to provide a perfect companion to travelers by giving them access to Audible’s exclusive contents including Originals, audiobooks and podcasts on their journey.
In addition, it tied up with four hotel technology providers, namely SiteMinder, Roiback, Derbysoft and WebHotelier. With the collaboration, thousands of hotels can connect to TripAdvisor Plus and gain more customers.
It also collaborated with Reckitt to support the disinfection of 8 million tourism and hospitality businesses listed on its platform to boost confidence among travelers.
Further, it joined forces with WarnerMedia's streaming platform, HBO Max, to celebrate pride and support LGBTQIA+ travelers willing to participate in Pride when there will be events across the United States. The alliance promoted Pride curated programming available to stream on HBO Max during the month of June. The partnership reflects TripAdvisor’s focus on diversifying the customer base.
Recovery in Travel to Fuel Competition
The travel industry witnessed a severe downturn due to the coronavirus pandemic. Nonetheless, the rising vaccination drive and lifting of restrictions in many parts of the world are improving this industry. This, in turn, is boosting the confidence of travelers and online traveling companies.
Per a report by Verified Market Research, the global online travel market is expected to hit $1.81 billion by 2028, witnessing a CAGR of 9.7% during the 2021-2028 period.
In addition, revenues generated from the U.S. travel and tourism market are likely to touch $186.7 billion by 2026 from $92.1 billion in 2021, registering a CAGR of 15.2% between 2021 and 2026, per a report by statista.
In this improving domestic and global travel market, TripAdvisor — a Zacks Rank #4 (Sell) company — faces intense competition from players like
Booking Holdings ( BKNG Quick Quote BKNG - Free Report) , Expedia ( EXPE Quick Quote EXPE - Free Report) as well as Airbnb. You can see . the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here
Booking Holdings, Expedia and Airbnb recently took some strong measures to expand their reach to travelers in the United States.
Recently, Booking Holdings signed an agreement to acquire a North America-based B2B distributor of hotel rooms, Getaroom, in exchange forrr $1.2 billion. Getaroom will be part of Booking Holdings’ subsidiary Priceline, and contribute to the improvement of B2B distribution for hotel and affiliate partners.
Further, Priceline — in collaboration with the U.S. Department of Defense — created a travel booking platform named American Forces Travel to provide exclusive travel benefits to the current and retired members of the country’s armed forces.
Meanwhile, Expedia was chosen as the official travel companion of WE LOVE NYC: The Homecoming Concert presented by New York City, Clive Davis and Live Nation on Aug 21.
With the move, the company spotlighted popular NYC hotels, flights and activities, offering 1,000 concert tickets to Expedia Rewards members.
Further, Airbnb joined forces with Visit Bloomington to promote safe travel with a focus on local attractions, unique stays and experiences in order to boost travel demand in Bloomington.
The partnership also focused on supporting local shops, restaurants and workers of the city who depend on the local tourism industry.