travel agency in hotel industry

• Travel, Tourism & Hospitality

Travel agency industry - statistics & facts

The biggest players of the ota market, the travel agency and tour operator retail market, key insights.

Detailed statistics

Online travel market size worldwide 2017-2028

U.S. travel agency industry market size 2012-2022

U.S. tour operator industry market size 2012-2022

Editor’s Picks Current statistics on this topic

Current statistics on this topic.

Tour Operators & Travel Agencies

Market size of the travel agency services industry worldwide 2011-2024

Online Travel Market

Revenue of leading OTAs worldwide 2019-2022

Related topics

• Online travel market
• Mobile travel trends
• Impact of technology on travel and tourism
• Artificial intelligence (AI) use in travel and tourism

Online travel companies

• Booking Holdings Inc.
• Expedia Group, Inc.
• Tripadvisor

Travel agency and tour operator market

• Travel agencies in the United Kingdom (UK)
• Package travel in Japan

Recommended statistics

Industry overview.

• Premium Statistic Market size of the tourism sector worldwide 2011-2024
• Premium Statistic Online travel market size worldwide 2017-2028
• Premium Statistic Key information on the global travel agency industry January 2024
• Basic Statistic Market cap of leading online travel companies worldwide 2023
• Premium Statistic Leading travel companies worldwide 2022, by sales
• Premium Statistic Number of employees at leading travel companies worldwide 2022

Market size of the tourism sector worldwide 2011-2024

Market size of the tourism sector worldwide from 2011 to 2023, with a forecast for 2024 (in trillion U.S. dollars)

Online travel market size worldwide from 2017 to 2023, with a forecast until 2028 (in billion U.S. dollars)

Key information on the global travel agency industry January 2024

Key data on the travel agency industry worldwide as of January 2024

Market cap of leading online travel companies worldwide 2023

Market cap of leading online travel companies worldwide as of September 2023 (in million U.S. dollars)

Leading travel companies worldwide 2022, by sales

Leading travel companies worldwide in 2022, by gross sales (in billion U.S. dollars)

Number of employees at leading travel companies worldwide 2022

Number of employees at selected leading travel companies worldwide in 2022

Online travel agencies (OTAs)

• Premium Statistic Revenue of leading OTAs worldwide 2019-2022
• Premium Statistic Marketing expenses of leading OTAs worldwide 2019-2022
• Premium Statistic Marketing/revenue ratio of leading OTAs worldwide 2019-2022
• Basic Statistic Revenue of Booking Holdings worldwide 2007-2023
• Premium Statistic Revenue of Expedia Group, Inc. worldwide 2007-2023
• Premium Statistic Airbnb revenue worldwide 2017-2023
• Premium Statistic Total revenue of Trip.com Group 2012-2022
• Premium Statistic Revenue of Tripadvisor worldwide 2008-2023
• Premium Statistic Despegar: revenue 2015-2022

Leading online travel agencies (OTAs) worldwide from 2019 to 2022, by revenue (in million U.S. dollars)

Marketing expenses of leading OTAs worldwide 2019-2022

Marketing expenses of leading online travel agencies (OTAs) worldwide from 2019 to 2022 (in million U.S. dollars)

Marketing/revenue ratio of leading OTAs worldwide 2019-2022

Marketing to revenue ratio of leading online travel agencies (OTAs) worldwide from 2019 to 2022

Revenue of Booking Holdings worldwide 2007-2023

Revenue of Booking Holdings worldwide from 2007 to 2023 (in billion U.S. dollars)

Revenue of Expedia Group, Inc. worldwide 2007-2023

Revenue of Expedia Group, Inc. worldwide from 2007 to 2023 (in billion U.S. dollars)

Airbnb revenue worldwide 2017-2023

Revenue of Airbnb worldwide from 2017 to 2023 (in billion U.S. dollars)

Total revenue of Trip.com Group 2012-2022

Total revenue of Trip.com Group Ltd. in China from 2012 to 2022 (in billion yuan)

Revenue of Tripadvisor worldwide 2008-2023

Revenue of Tripadvisor, Inc. worldwide from 2008 to 2023 (in million U.S. dollars)

Despegar: revenue 2015-2022

Revenue of Despegar.com, Corp. from 2015 to 2022 (in million U.S. dollars)

Travel websites and apps

• Premium Statistic Most popular travel and tourism websites worldwide 2024
• Premium Statistic Total visits to travel and tourism website booking.com worldwide 2021-2024
• Premium Statistic Total visits to travel and tourism website tripadvisor.com worldwide 2020-2024
• Premium Statistic ACSI - U.S. customer satisfaction with online travel websites as of 2023
• Premium Statistic Number of aggregated downloads of leading online travel agency apps worldwide 2023
• Premium Statistic Number of aggregated downloads of leading online travel agency apps in the U.S. 2023
• Premium Statistic Leading travel apps in the U.S. 2022, by market share
• Premium Statistic Leading travel apps in Europe 2022, by market share

Most popular travel and tourism websites worldwide 2024

Most visited travel and tourism websites worldwide as of April 2024 (in million visits)

Total visits to travel and tourism website booking.com worldwide 2021-2024

Estimated total number of visits to the travel and tourism website booking.com worldwide from December 2021 to March 2024 (in millions)

Total visits to travel and tourism website tripadvisor.com worldwide 2020-2024

Estimated total number of visits to the travel and tourism website tripadvisor.com worldwide from August 2020 to March 2024 (in millions)

ACSI - U.S. customer satisfaction with online travel websites as of 2023

U.S. customer satisfaction with online travel websites from 2000 to 2023 (index score)

Number of aggregated downloads of leading online travel agency apps worldwide 2023

Number of aggregated downloads of selected leading online travel agency apps worldwide in 2023 (in millions)

Number of aggregated downloads of leading online travel agency apps in the U.S. 2023

Number of aggregated downloads of selected leading online travel agency apps in the United States in 2023 (in millions)

Leading travel apps in the U.S. 2022, by market share

Market share of leading travel apps in the United States in 2022

Leading travel apps in Europe 2022, by market share

Market share of leading travel apps in Europe in 2022

Travel agencies and tour operators

• Premium Statistic U.S. travel agency industry market size 2012-2022
• Premium Statistic U.S. tour operator industry market size 2012-2022
• Premium Statistic Revenue of TUI AG worldwide 2004-2023
• Premium Statistic Leading travel agents ranked by number of outlets in the UK 2024
• Premium Statistic Leading ATOL-licensed tour operators in the UK 2024, by passengers licensed
• Premium Statistic Turnover of Hays Travel Limited in the UK 2008-2023

Market size of the travel agency sector in the United States from 2012 to 2022 (in billion U.S. dollars)

Market size of the tour operator sector in the United States from 2012 to 2022 (in billion U.S. dollars)

Revenue of TUI AG worldwide 2004-2023

Revenue of TUI AG worldwide from 2004 to 2023 (in billion euros)

Leading travel agents ranked by number of outlets in the UK 2024

Leading travel agencies in the United Kingdom (UK) as of February 2024, by number of travel shops

Leading ATOL-licensed tour operators in the UK 2024, by passengers licensed

Leading ATOL-licensed tour operators in the United Kingdom as of February 2024, ranked by number of passengers licensed

Turnover of Hays Travel Limited in the UK 2008-2023

Turnover of Hays Travel Limited in the United Kingdom from 2008 to 2023 (in million GBP)

Cruise companies

• Premium Statistic Worldwide cruise company market share 2022
• Premium Statistic Revenue of Carnival Corporation & plc worldwide 2008-2023
• Premium Statistic Revenue of Royal Caribbean Cruises worldwide 1988-2023
• Premium Statistic Revenue of Norwegian Cruise Line worldwide 2011-2023
• Premium Statistic TUI cruise brand revenue worldwide 2015-2023, by brand
• Premium Statistic Percentage change in revenue of leading cruise companies worldwide 2020-2023

Worldwide cruise company market share 2022

Worldwide market share of leading cruise companies in 2022

Revenue of Carnival Corporation & plc worldwide 2008-2023

Revenue of Carnival Corporation & plc worldwide from 2008 to 2023 (in billion U.S. dollars)

Revenue of Royal Caribbean Cruises worldwide 1988-2023

Revenue of Royal Caribbean Cruises Ltd. worldwide from 1988 to 2023 (in billion U.S. dollars)

Revenue of Norwegian Cruise Line worldwide 2011-2023

Revenue of Norwegian Cruise Line Holdings Ltd. worldwide from 2011 to 2023 (in billion U.S. dollars)

TUI cruise brand revenue worldwide 2015-2023, by brand

Revenue of TUI cruise brands worldwide from 2015 to 2023, by brand (in million euros)

Percentage change in revenue of leading cruise companies worldwide 2020-2023

Percentage change in revenue of leading cruise companies worldwide from 2020 to 2023 (compared to 2019)

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10 Largest 2021 Travel Acquisitions Ripple Across Industry

Dennis Schaal , Skift

December 27th, 2021 at 2:30 AM EST

Big names drove many of the top 10 travel mergers of the year. But among the largest deals, aircraft lessors, rail manufacturers and an online travel agency used the pandemic to scoop up infrastructure and technology to shore up their positions.

Dennis Schaal

Pandemic opportunities fueled much of the mergers-and-acquisitions activity in travel this year, as buyers pounced on favorable valuations and sectors set for strong recoveries.

Among the top 10 deals were three that involved infrastructure or services for planes and trains, and the dealmakers were companies that your average traveler never heard of.

The biggest such deal saw Dublin-based AerCap, already the largest aircraft lessor in the world, acquiring a U.S.-based rival, GE Capital Aviation Services , for $30.7 billion in November. That deal, which saw GE grabbing $23 million in cash and a 46 percent stake in the merged companies in a bet on an aviation recovery, was roughly five times larger than the number two acquisition of the year.

In that second-biggest acquisition, France-headquartered Alstom bought UK-based Bombardier Transportation, a rail car manufacturer, in a $6.2 billion (euro 5.5 billion) deal that closed in January 2021.

lnterestingly, both sellers General Electric in the AerCap deal, and Bombardier, then-parent of Bombardier Transportation, in the transaction with Alstom, viewed the transactions as enabling them to return to their core businesses, an energy equipment and services provider for GE, and business jets for Bombardier.

The third infrastructure-services deal was the 10th biggest travel-related acquisition with Siemens Mobility acquiring rail software maker Squills for $650 million.

See the chart below to view the top 10 deals.

Hotels and real estate were in play as Blackstone and Starwood Capital executed the third largest travel-related acquisition of the year and took control of Extended Stay America for $6 billion. One might characterize Extended Stay America as a merger and acquisition football — When the deal closed in June, it was the third time Blackstone has been owner of Extended Stay America.

In another major hotel deal, the fifth largest travel acquisition of the year, Hyatt bought Apple Leisure Group for $2.7 billion in November, extending Chicago-based Hyatt’s reach further into Europe and the all-inclusive sector.

The fourth largest deal of the year had Certares, Knighthead and Apollo winning an auction to lead U.S.-based Hertz out of bankruptcy in a roughly $4.7 billion deal.

The sixth-largest travel acquistion announced or closed in 2021 was the only Asia entry with Tata Group intending to take Air India private for $2.4 billion.

It wasn’t a particularly active mergers and acquisitions year for online travel agencies, but one, Booking Holdings, announced late in the year two billion-dollar-plus acquisitions, Swedish flight-tech provider Etraveli Group for $1.8 billion (seventh-largest deal) and hotel wholesaler and distributor Getaroom for $1.2 billion (eighth largest).

Expedia Group was a seller. The online travel agency sold its once-rising star Egencia , the corporate travel agency, to American Express Global Business Travel for a 14 percent stake in the world’s largest travel management company, worth about $750 million, and a long-term hotel distribution deal. That was the ninth-largest travel acquisition of the year.

We didn’t consider special-purpose acquisition company deals in our top 10 because they are transactions executed by shell companies with no operations. If we had included them, then Altimeter Capital Growth 1’s merger with Singapore’s Grab, the ride sharing and food delivery superapp, would have been in the mix in a $4 billion transaction.

Travel’s 10 Biggest Merger and Acquisition Deals of 2021

Source: Skift, financial filings

The Daily Newsletter

Our daily coverage of the global travel industry. Written by editors and analysts from across Skift’s brands.

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Tags: Blackstone Group , booking holdings , corporate travel , expedia , extended stay america , grab , hotels , hyatt , online travel agencies

Photo credit: Pictured is an AerCap a320neo. The aircraft lessor participated in the largest travel acquisition of 2021.

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Top online travel agencies

Based on Cloudbeds’ data gathered from thousands of customer properties between 2021 (the benchmark used in our last report) and 2023, we’ve seen a remarkable pace of recovery for OTAs. While top OTAs like Booking.com, Expedia, and Airbnb have held onto their spots as the highest-revenue generating OTAs, we saw China’s Trip.com rise two spots, indicating the return of Asian travelers to the market. Here are the highest revenue-generating OTAs of 2023.

Highest revenue-generating OTAs

1. booking.com.

Booking.com is one of the largest and most popular travel websites in the world, with over 1.5 million nights booked every day. Its website and mobile apps are accessible in 43 languages and feature over 50 million verified guest reviews of properties in 200+ countries. Its parent company, Booking Holdings, includes OTA brands and metasearch engines such as Priceline.com, KAYAK, Agoda, Rentalcars.com, OpenTable and more.

Expedia.com is the flagship brand of Expedia Group, which includes 200 travel booking websites, including Hotwire, Orbitz, Trivago, and Travelocity, serving 75 countries in 35 languages with over 600 million monthly visits. The website includes searches for all types of accommodations, as well as booking flights, car rentals, cruises, and vacation packages. By activating the Expedia connection, properties will broadcast their inventory on Hotels.com, Wotif, and many other channels.

Airbnb is known for providing access to unique accommodations around the world, with the vast majority of properties located outside of main hotel districts. While the company continues to expand into hotel room inventory following its acquisition of HotelTonight (known for booking last-minute lodging), its community expects a certain type of experience. Namely, something that is less cookie-cutter and more oriented to the local vibe.

4. Hostelworld

HostelWorld is a leading OTA for hostel-focused accommodations worldwide, with 12+ million guest reviews. Their inventory also includes hotels, B&Bs, and other budget accommodation types. Hostelworld aims to be a leader in social travel via its online booking options and mobile app, addressing the needs of guests who want to make connections with others as they experience the world around them. Their app and website operate in 20 different languages.

Agoda was founded in 1998 and later acquired by the Priceline Group (now called Booking Holdings) in 2007. Agoda’s website is available in 38 languages and focuses on listing all types of properties. It’s currently one of the leading online travel booking sites for the Asian market but is pushing into the US, India, and European markets.

6. Trip.com

Trip.com is China’s leading provider of travel services including reservations for accommodation, transportation, tours, and corporate travel. Founded in 1999, the company owns and operates several other OTAs and aggregators, including Trip.com, Skyscanner, Qunar, and Ctrip. 

7. Hotelbeds

By connecting to Hotelbeds, will gain unrivaled exposure to the travel industry’s largest network of B2B buyers, including more than 71,000 tour operators, travel agents, airlines, and loyalty & points schemes which can be great for business travel. 

With over 2 million bookable vacation rentals, Vrbo caters to a diverse range of needs and preferences, offering everything from cozy, intimate cabins for romantic getaways to spacious, well-appointed villas suitable for large family reunions or group vacations.

9. Traveloka

Based in Indonesia, Traveloka is one of Asia’s largest online travel agents. Traveloka lists hundreds of thousands of properties across Southeast Asia, Australia, and around the globe. The company also provides lifestyle products and services, such as tickets to attractions, activities, car rentals, and restaurant vouchers.

10. Despegar/Decolar

Despegar/Decolar is a leading online travel company in Latin America, with Despegar functioning as the global brand and Decolar representing the brand in the Brazilian market. Their marketplace operates across 20 markets and offers a broad suite of travel products in the region, including airfare, hotel bookings, travel packages, and other travel products to a large customer base.

Highest revenue-generating OTAs by country

Based on Cloudbeds data, we’ve highlighted the OTAs that are generating the most revenue for our customers in leading travel destinations. 

Hostelworld has moved up on the list across multiple countries, demonstrating that demand for hostels (jumping 5 spots in Thailand and the Philippines), shared accommodations, and experiences is back. In addition, we can see the return of Asian travelers as Agoda and Trip.com rise in North America and make their first appearance on Latin American lists. 

Top 10 OTAs in the U.S

• Booking.com
• Hostelworld 
• Agoda 
• HotelTonight 
• Hotelbeds 

Top 10 OTAs in Canada 

• Booking.com 
• Expedia 
• Dorms.com 
• Mrs & Mrs Smith
• Tripadvisor

Top 10 OTAs in Mexico

• Hostelworld
• Despegar/Decolar 
• PriceTravel
• Mr & Mrs. Smith

Top 10 OTAs in Spain

• Keytel 
• Mr & Mrs Smith

Top 10 OTAs in other countries 

Learn more about the top revenue-generating OTAs around the world in our Big Book of OTAs, including:

• Philippines

Highest niche revenue-generating OTAs

What are niche otas.

Niche OTAs are online travel agencies catering to specific audiences and travel needs. Many niches exist today, including OTAs for skiers, campers or glampers, adventure travelers, luxury travelers, and more.

Niche platforms can be the best online travel agencies as they are built to target more specific guest segments. Once you identify what guest segments make sense for your property, you can look into local partnerships to expand your offerings to provide a more tailored experience that complements your guests’ travel plans. For example, if you have a property close to the beach, you can find local surf instructors to partner with and offer lessons through your booking engine to attract surfers. When the guests check in, you can show them where the best surf is in town to improve the guest experience.

After a guest’s first trip is booked through a niche OTA, the guest will likely forego OTAs for their next trip in favor of booking directly on the hotel website. Niche OTAs are an essential part of any property’s online distribution strategy as they build loyalty and encourage direct bookings.

In the niche OTA market, many new channels have emerged over the past few years, especially surf & sport OTAs and luxury OTAs.

Highlighted niche OTAs surf & sports 

The global surfing tourism market is predicted to grow at a compound annual growth rate of 6%, from 9.5 billion USD in 2022 to 17.1 billion USD by 2032. Travelers are increasingly looking for unique experiences, many tailored to specific activities like surfing, and seek out properties that cater to their needs. Today, the top revenue-generating Surf & Sport OTAs include:

Thermal offers a handpicked collection of the best surf trips in the world, with a focus on amazing guides who create one-of-a-kind, authentic experiences.

Good Story has an inventory of surf hotels and internationally recognized surf schools and camps for both novice and experienced surfers. 

Surf Holidays provides unique places to stay with quality local surf instruction to deliver the surf holiday of a lifetime on some of the best breaks in the world. 

Luex Surf & Snow Travel connects travelers with operators/ suppliers of once-in-a-lifetime sports travel experiences and products.

KiteSurfHolidays.com specializes in kitesurfing holidays, including accommodations and kitesurfing schools.

Highlighted niche OTAs luxury

In May 2023, Deloitte reported that the luxury travel industry had rebounded to pre-pandemic levels and is currently thriving, with a global market value of 1.2 trillion USD. Bookings at five-star hotels rose 19% over the first three quarters of 2021, and luxury travelers are more keen than ever to experience “Instagram-worthy” experiences in unique and remote locations. 

The following OTAs cater to travelers looking for luxury accommodations:

Mr & Mrs Smith includes a collection of carefully curated hotels that are first anonymously evaluated and visited by staff. This exclusive OTA works on an invitation-only basis. 

Prestigia is made up of hand-selected quality and unique hotels from all over the world. This OTA offers the best price guarantees, promotions, and exclusive offers. 

icastelli.net luxurious, historical, and unique high-level hotels are the property types found on this OTA. Collections include exclusive boutique hotels, golf hotels, spa hotels, and more.

i-escape provides unforgettable travel experiences, including eco-retreats, safari lodges, and boutique hotels. Also included is an award-winning booking system with a direct dialogue between guests and property and free advice from travel consultants. 

Tablet Hotels the official hotel selection of the MICHELIN Guide. This OTA showcases hotels that provide meaningful experiences to guests, regardless of budget. 

Spotlight – LGBTQIA+ OTAS

The global LGBTQIA+ travel market is valued at over $568.5 billion USD annually . While many countries have become increasingly welcoming to the queer community, discrimination is still prevalent today. A Booking.com study revealed that 58% of LGBTQ+ travelers face discrimination while traveling, and 41% canceled a trip within the past year after seeing their destination wasn’t LGBTQ+ friendly. 

 OTAs like ebab have emerged to offer safe and friendly accommodations to the LGBTQIA+ community.

Top OTAs by property type

Our data shows that while the top global OTAs dominate across almost all property types, some OTAs offer more opportunities for specific property types.

Channels such as Hostelworld have traditionally been popular for searching for hostels, while channels such as Vrbo and Airbnb have catered to vacation rentals. However, we’ve seen that our hotel customers are increasingly adopting Airbnb as part of their channel mix. Airbnb welcomes hotels that have a unique, independent environment and style.

Download our Big Book of OTAs to see the list of the five most popular channel connections by property type, including:

• Most popular channel connections for Hotels & Boutiques
• Most popular channel connections for Hostels
• Most popular channel connections for Vacation Rentals
• Most popular channel connections for Bed & Breakfasts

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What AI means for travel—now and in the future

“Revenge travel.” It’s what a lot of people are doing these days—hitting the runways in big numbers to make up for travel time lost during the pandemic. On this episode of The McKinsey Podcast , McKinsey partners Alex Cosmas and Vik Krishnan join global editorial director Lucia Rahilly to discuss a new report on travel in the age of AI : what the technology’s promise and pitfalls are and what it may mean for the travel industry overall.

This transcript has been edited for clarity and length.

The McKinsey Podcast is cohosted by Roberta Fusaro and Lucia Rahilly.

The promise of AI

Lucia Rahilly: Much of the research for the report drew from interviews with executives at 17 companies across five types of travel businesses. One of those executives is Luca Zambello, CEO of Jurny—an AI-fueled hospitality platform. He says AI will be the new normal.

Luca Zambello: We’re at the very beginning of the hockey stick. Economically, we are at the start of what is potentially the biggest technology disruption that humanity has ever seen.

Lucia Rahilly: So everyone is talking about the disruptive juggernaut that is AI, and particularly gen AI [generative AI]. At a super-high level, and acknowledging that we’re still in early days, what do we expect this to mean for the travel industry in particular?

Vik Krishnan: The travel industry is unquestionably going to be significantly disrupted by AI. Whether it’s gen AI or other forms of AI that have been around for some time remains to be seen. It’s quite clear that if you work through the customer journey and the process of trying to understand where you want to go, where you want to stay, what are the things you want to see, how you want to plan your day-by-day itinerary, gen AI significantly eases the process of travel discovery.

If you then step into what this means for travel suppliers, which includes airlines and hotels and cruises and car rentals and rideshare providers, the promise of AI is very much to help them deliver on the promises, both explicit and implicit, that they make to their customers.

Gen AI significantly eases the process of travel discovery.

What I mean by that is, very often, the expectations of travel are that your flight is on time, your bags get delivered to you safely, you then get to your hotel, your hotel room is available to check into when you get there, and you have a room that provides exactly what you asked for. That baseline expectation is one that many travel companies have historically struggled to meet.

What AI can do is help airlines ensure that planes are on time. It can help hotels ensure that what they deliver in terms of staffing and the product promise is consistent with what they advertise in their marketing and branding strategies.

Alex Cosmas: Not only is travel and hospitality the world’s largest sector, but it’s actually the most intimate sector. That means the answer for each of us to what a good experience looks like—whether I’m traveling for leisure or for business—is, by definition, fundamentally different. And the promise of AI has been to take the pattern of history, take the pattern of millions, and boil that down to the individual response that is relevant to me as a segment of one.

Nowhere is that promise needed more than in travel, where the experience should be a segment of one. That’s what makes it magical. To be clear, AI is already being applied in the travel sector in spades—specifically, in the operation of schedule assets and the optimized allocation of rooms and crews. That’s been true for decades, and it’s only getting better.

But the customer-facing applications of AI are only now really becoming next-generation. And for the most part, in travel, the best AI applications will largely be opaque to customers, because they’ll still be delivered through the mediums that customers prefer: often through humans, through the front line, through desk agents, through guest agents.

AI is already being applied in the travel sector in spades—specifically, in the operation of schedule assets and the optimized allocation of rooms and crews.

That’s ideally the promise. But the starting point is to say we can’t suddenly expect that customers will prefer to interact through more digital channels than they have in the past. Travel is a very human-centric business. And so the best AI, the best models, will be delivered through traditional channels.

How AI can change travel—for the better

Lucia Rahilly: What kind of value might come from using gen AI in the travel industry?

Alex Cosmas: Our latest estimates suggest that gen AI alone, across sectors, is bound to unlock $2 trillion to $4 trillion of incremental value.

Lucia Rahilly: Wow.

Alex Cosmas: Therefore, not surprisingly, capital is chasing the disruptive sector of AI.

Lucia Rahilly: What are some good examples of products that customers might expect to be using or that might be in the background enhancing customers’ experiences in the future?

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Vik Krishnan: Imagine the last time any of you tried to book a trip. You probably started on a search engine such as Google, or you started at an online travel agent such as Expedia, or you started at an actual supplier website if you had some certainty on what airline you wanted to fly or which hotel you wanted to stay at. You probably started with a little box where you put in your destination, you put in your approximate dates, and then you had the search engine present to you a series of results that may or may not have met your needs.

What we’re imagining in a future with gen AI or AI in general is that you start with something much more free-form and say, for example, “I’m looking to plan a trip with my family to New Orleans for a week in October. Can you help me find a hotel that has a pool for my seven-year-old and is within walking distance of the French Quarter?”

Wouldn’t that experience be much easier in terms of trying to figure out where you want to stay and what you want to do, as opposed to getting a list of a thousand hotels in an order that may or may not meet your specific preferences and what you actually want out of that trip? It is one of the most obvious examples wherein customers can see a real difference in what gen AI can do to help them with the travel discovery process.

Alex Cosmas: The other application of AI that I’m excited about is this: every customer gives tells. They drop digital breadcrumbs of things they like and don’t like when they bounce off of the page of a dot-com when they’re shopping; when they abandon a cart; when they return less frequently to search; when they arrive on a page only to check a single itinerary on a single day, on a single fare, rather than browsing for 20 minutes.

All of these are small tells that we as consumers provide travel brands. And so the ability to record, “I actually know what Alex is keen on in general and frankly less keen on and less likely to convert on,” and turn that into relevant offers is really important.

AI is only part of the answer

Lucia Rahilly: Where are we in terms of companies really embracing the use of this next-gen AI and other related technologies?

Alex Cosmas: We’re pretty far down the path of companies both embracing traditional AI and experimenting with gen AI. Very few of the airlines, hotels, cruise lines, and suppliers that I’ve interacted with are not already embracing deployment and actively experimenting with advanced tech. It’s only going to grow.

But there is risk. More is not always better. Faster is not always better. There’s a bit of, let’s say, a cautionary tale that we’ve learned from other sectors, which is that first off, AI is only part of the answer.

I like to say it doesn’t matter if you got the answer right if you got the delivery wrong.

The digital-delivery mechanism is how I go about delivering the answer: a mobile app, a push notification, an e-commerce experience, a kiosk, digital signage, or data just given to the front line. Those mechanisms are as equally important as or, I’d argue, even more important than the predictive and gen AI models behind them.

Vik Krishnan: To build on Alex’s point about getting the delivery wrong, many of you listening have probably been on an airplane in the last year. How many times have you experienced the outcome of landing, pulling toward the gate, stopping short on the tarmac somewhere, and it turns out the gate’s not available yet. Therefore, you have to wait for the other aircraft to taxi out, so your plane can then pull into the gate.

The reality is that putting together an operational execution plan involves data from so many different sources that aren’t necessarily pulled together in a large model. So it doesn’t necessarily enable or unlock this type of orchestration. And this is where AI can be enormously helpful.

There are companies out there that try to understand turning an aircraft, which is the process of essentially getting it from arrival to departure for the next flight. That involves actions both above the wing—for example, getting passengers off and onto the plane, getting the aircraft catered—and below the wing—for example, getting bags on and off the plane.

It involves refueling aircraft. It involves a number of other maintenance-related and ground-handling-related activities that many consumers don’t see. All of that is an extremely delicately orchestrated ballet that happens at an airport every single day, while involving multiple third parties and several different suppliers. It involves a fuel provider. It involves a ground handler. In some instances, it involves a different gate agent than the airline itself. That orchestration requires data and communication of very, very large volumes of information.

There are companies out there that are now saying, “We can actually identify when, during an aircraft turn, something didn’t happen according to schedule.” In other words, that catering truck didn’t pull in three minutes after arrival as it was expected to, which induced a delay. And that delay then allowed for a replanning of the entire turn process, so as to deliver an on-time departure. AI has an extremely large role to play in helping deliver on that promise in a way that suppliers have historically struggled to.

Don’t be AI stranger

Lucia Rahilly: In order to deliver on that process, understanding the data is critical. Here’s Ella Alkalay Schreiber, the GM of fintech at Hopper.

Ella Alkalay Schreiber: Machine learning is important, gen AI is important, predictive AI is important—but the actual challenge is to understand the data, ask the right questions, read prediction versus actual, and do this in a timely manner. The actual challenge is the human thinking, the common sense.

Lucia Rahilly: “Know your customer” is really a business axiom at this point. What does understanding your customers mean specifically for the travel industry?

Alex Cosmas: It means a few things. AI models learn the same way humans learn. It’s a test-and-learn process. I ask a question. I observe a behavior. That reinforces either my false or positive conception of who you are and what makes you tick. If you can’t measure cause and effect precisely, then avoid running an experiment entirely.

This is what our general advice is to our clients. I’d rather they experiment correctly on something small than swing for the fences and have no idea where the ball lands. That’s particularly true in microexperiments, where I have individual customers, where I provide individual treatments, but I have to be able to measure the response. If you can’t measure it, don’t bother. Focus your energy and resources on a different experiment.

This is what our general advice is to our clients. I’d rather they experiment correctly on something small than swing for the fences and have no idea where the ball lands.

If a brand, for example, doesn’t have the digital tech to be able to send a tailored offer to me as an individual, then you don’t really need to know my personal willingness to pay. In that case, stick to the microsegment or the macrosegment and take action that way. If you can’t send a personalized message without making it feel generic, then don’t.

Vik Krishnan: The experience of hyper-personalization has to feel authentic. So in other words, a flight attendant coming up to you and saying, “Hey, I know you normally like a Diet Coke with a slice of lime. Is that what you’d like this time?” is different from presuming what your preferred drink might be. That might be an example of how AI actually delivers on hyper-personalization, but with a bit of a human touch so it doesn’t appear creepy.

Lucia Rahilly: Both of you are deep in this industry. Any examples that come to mind of companies that are really doing AI right? And if so, how?

Vik Krishnan: Hotels that actually understand or acknowledge your past history of staying at that specific property—that’s quite a personal touch I really appreciate. But the reality is many hotels struggle to even understand basic facts such as the frequency, duration, and purpose of a recent stay. Many hotels don’t easily make that type of information available to their frontline staff. And so empowering those employees to use that information to deliver a hyper-personalized greeting or experience is a good example of companies using AI well.

Alex Cosmas: If done right, the frontline workforce should look and feel like superheroes powered by AI. There’s a luxury fashion retailer that arms its sales associates with iPads to link shoppers to the styles and the sizes they searched for online. That’s pretty cool. Now, augment that with the propensity models in the background that give the agent a steer to what a customer wants, and suddenly they appear clairvoyant. Think about that application in travel. There are far more interactions on average in a travel journey.

So as consumers, how do we preserve the magic of travel, which is more about heads-up time and being immersed in our surroundings, rather than about heads-down time and researching on a device? It means more agents who surprise and delight; say, “Welcome back”; say, “Happy birthday”; know you arrived earlier than planned; and swap the room preemptively so you could get in and get on your way. And that’s what we call knowing your customers like you know your friends.

I’ll share one example. When I check into a hotel, I really don’t like the kiosk and the app check-in. But I love it for checking out. For other customers, the complete inverse is true. My hotel can know that. It certainly knows how I check in and check out. It should act on that or understand the why, just as you understand your friends. This is the test-and-learn experiment that we talked about earlier and that most suppliers can begin right now.

AI and talent: What’s next?

Lucia Rahilly: Alex, that makes a very nice segue to Christiaan Hen, chief customer officer at Assaia, talking about frontline talent using AI as an assistant.

Christiaan Hen: Sometimes, people say automation might be a risk to people’s jobs, but that’s not the case here, because there are not going to be enough people to do these jobs in the first place. I like to see it as we’re equipping people with the right tools to do their jobs in a better way to accommodate for the additional workload that is coming.

Lucia Rahilly: This clip invokes the palpable fear that AI and automation will eliminate people’s jobs. We hear that time and again. How do you see these advanced technologies changing things for the front line in the travel industry?

Vik Krishnan: I see technology helping frontline employees do a better job more than I see it eliminating those jobs. We don’t necessarily see, for example, AI reducing flight attendant staffing any time soon, because those flight attendants are on the airplane to provide primarily for your safety, followed by the guest experience.

We see AI in many instances allowing those flight attendants to deliver a better customer experience, because they know that passenger in seat number 17C better as a result of the information provided to them. But it’s not replacing their jobs.

In certain pockets of the economy, technology and AI will end up replacing people. The reality in travel, though, is that the quality of the guest or passenger experience for so many people is tied to human interaction. Consequently, we don’t necessarily see a large-scale replacement of people here by technology and AI.

Alex Cosmas: Let’s look at the facts for a moment. Post-COVID-19, the travel sector employs 12 percent fewer staff than pre-COVID-19. And that’s not necessarily by choice. It is hard to find folks with the hospitality gene who genuinely want to deliver for guests, engage with them, and serve at the highest level day in and day out.

That’s part of the reason we see a smaller workforce in travel today than we have in the past. It takes twice as long, an average of five to six weeks, to fill roles as it did before the pandemic. Those with that hospitality gene would love nothing more than spending less time fixing broken itineraries, fixing issues that frankly could be automated. They’d rather spend their energy serving, which is what travel and hospitality is all about.

It should be a net-positive growth. The travel sector itself should grow as a result, creating jobs. We estimate the travel sector to grow at roughly 6 percent over the next decade, which is twice the rate of the overall economy.

Lucia Rahilly: Could AI and related technologies help with training folks who don’t come by that gene naturally but could be trained to fill those roles more efficiently?

Alex Cosmas: Absolutely. We’re already seeing applications of virtual reality, augmented reality, and AI coming together to offer more efficient ways to enhance and accelerate employee training, because you can throw live, immersive scenarios in front of employees at a higher clip than they would get organically on the job.

Oftentimes, the same is true not just of the front line but also of training corporate and call center employees. AI can learn from the patterns of thousands upon thousands of call-ins and transcripts—which no single human can ever be expected to go through—boil them down to the top ten core issues and suggest outcomes that seem to resolve 70 percent of situations. That’s the power of AI in training.

Lucia Rahilly: Alex, you mentioned virtual reality. Would travel drop if you could experience Bhutan from your sofa rather than actually having to take an arduous flight?

Alex Cosmas: Here’s my honest read on it. We’ve been able to visit Bhutan virtually for over a decade through YouTube and through National Geographic . And yet, travel is at an all-time high. And it’s because we all, as social animals, continue to enjoy experiencing new things, meeting new people, hearing new stories, and being inspired by a new site’s history and cuisine.

The numbers also suggest that we are in an unprecedented growth phase for travel. We are also in a phase where, over the past 15 years, customer satisfaction has steadily grown, despite how much we all like to beat up on our travel suppliers.

Consumers are admitting that the area they want to splurge on in the next year is travel and hospitality, such as experiences and restaurants. So they’re giving us that gift of their wallets and their trust. We have to deliver on that expectation as a sector. Gen AI, traditional AI, augmented reality, virtual reality, and digital technologies are going to help us deliver on the promise.

Alex Cosmas is a partner in McKinsey’s New York office. Vik Krishnan is a partner in the Bay Area office. Lucia Rahilly is the global editorial director and deputy publisher of McKinsey Global Publishing and is based in the New York office.

Comments and opinions expressed by interviewees are their own and do not represent or reflect the opinions, policies, or positions of McKinsey & Company or have its endorsement.

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The Impact of online travel agencies on the hotel Industry: a double edged sword

In recent years, the rise of online travel agencies (OTAs) has transformed the way people book their hotel accommodations. They have been undeniably helpful for travellers, but in many ways, they have also become roses whose thorns have grown too long. While OTAs have helped drive bookings and increase exposure for hotels, they have also taken a significant cut of hotel revenue, which in turn has hindered revenue growth. In a world where hotels are still rebounding from the effects of the pandemic, the hefty commissions that OTAs charge can severely stunt growth opportunities and potentially scupper the gains the sector looks set to achieve.

Positive impact: driving bookings and increasing exposure

One of the benefits of OTAs is their ability to connect hotels with a vast pool of potential clients. This increased exposure has allowed hotels to reach a broader audience, attracting more bookings and revenue.

Furthermore, OTAs often provide valuable features such as customer reviews and ratings, which can enhance a hotel's reputation and credibility.

Negative impact: commission fees and limited pricing control

Unfortunately, the positive aspects of OTAs come at a price. Typically, these platforms charge hotels a commission ranging from 10% to 30% of the booking price. For smaller hotels, this commission can be a significant burden, eating into their already limited revenue streams. This in turn makes it difficult for them to invest in infrastructure improvements or other areas that could enhance the guest experience.

Adding to that is the fact that OTAs often dictate the pricing of hotel rooms on their platforms, leaving hotels with limited control over their own pricing strategies. This lack of autonomy cuts even further into profit margins for hotels.

Improved efficiency

Moving away from OTAs boosts efficiency. It does this by helping build better relationships with guests, and equipping hoteliers with data to improve and enhance their service offerings. Through direct bookings for example, hotels are able to offer guests bespoke packages, promote unique experiences and include extras and add ons. This would not be possible through OTAs. By implementing hotel management software like marketing automation, channel managers, website design, digital marketing services and a 360 degree booking engine, hoteliers can streamline their operations, automate tasks, and upsell relevant extras. With platforms like Profitroom for example, the connections between the website, booking engine and other tools are seamless which means hotel teams do not have to waste time uploading data to multiple different platforms. They can prepare the information in the suite and it will update frictionlessly, thus saving time and money. This allows staff to focus on delivering guest experiences. Furthermore, leveraging customer relationship management (CRM) systems helps hotels gather guest data, preferences, and feedback, enabling personalised and tailored interactions. With access to comprehensive data, hotels can analyse trends, identify areas for improvement, and make informed decisions to enhance their service offerings and exceed guest expectations.

Driving direct bookings to bolster bottom lines

Tech-forward booking platforms can offer hoteliers more control and the opportunity to increase their revenue. Their booking engines are designed to attract visitors and then convert more of them into paying guests by providing a user-friendly and seamless booking experience directly on the hotel's website. As opposed to OTAs, they allow hotels to retain a greater portion of their revenue, they empower hotels to capitalise on the current market boom by eliminating hidden fees and providing transparent pricing structures.

Booking directly allows much greater flexibility when it comes to availability. The majority of OTAs operate on a take-it-or-leave-it basis when it comes to date/room option availability. Using a premium booking platform means hotels can immediately offer lookers an alternative if the option they are looking for is not available. 

Platforms like Profitroom, enable hotels to set their own prices and tailor promotional offers according to their unique business needs. This level of flexibility allows hotels to optimise revenue strategies and adapt to market conditions more effectively. By embracing booking engines, hotels can reduce their dependence on OTAs and regain control over their pricing and profitability.

For hotels who embrace these booking engines, the results have more often than not seen the properties enjoy  double digit growth or more in their direct bookings. This in turn has allowed them to reinvest those profits into guest experiences and continue creating memories for their guests.

By moving away from OTAs hoteliers can take full advantage of direct bookings, improved efficiency, and enhanced guest relationships. This happens because properties are able to build loyalty and customer relationships through tailored pre and post-stay offers, seamless booking experiences, and flexible availability calendars. These tools will be crucial for hotels to thrive in the competitive market. Fortunately, having award-winning and experienced booking platforms will put hoteliers in the best possible position to prioritise growth. As we have seen time and time again, this can have tangible benefits for the broader economy.

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How to Become a Travel Agent: Everything You Need to Know

A re you great at finding reasonably priced flights and hotel rooms? Does making itineraries and solving booking issues come naturally to you? If your answer is yes, you might want to consider becoming a travel agent. And if you're the designated "trip-planning friend," you're already halfway there.

You might think the the profession is outdated, but that's not what the data shows: According to the American Society of Travel Advisors (ASTA), 50 percent of travelers are more likely to use a travel agent now than they were in the past. Not only are travel agents needed, but the career's earning potential can be impressive, depending on the type of agent you choose to be. Use this guide to learn how to become a travel agent and kickstart your journey into a unique career.

RELATED: 26 Best Trip-Planning Hacks Straight From Travel Agents .

What do travel agents do?

A travel agent's job is to ensure their clients have the best travel arrangements. Using their expertise, they offer advice and essential details about your trip, make your reservations, book flights and hotels, and manage your travel plans overall. Any hiccups regarding your accommodations are handled by them, and they are the best at finding money-saving deals. Travel agents prioritize your needs, like your vacation schedule and budget.

Their goal is to provide peace of mind throughout the trip-planning process so you can get the most out of your vacation.

What credentials do you need to be a travel agent?

You don't necessarily need a degree to become a travel agent, but getting some training within the field could be in your best interest. This not only makes you an attractive candidate to employers and agencies who may require a form of certification , but also helps you appear more qualified, which can help further your career in the long run.

Even though there might not be a degree in "travel agency" per se, you can opt for a related program like business, economics, or hospitality instead.

What do you need to become a travel agent?

There are different ways to become a travel agent, but anyone hoping to break into the field should definitely keep the following three points in mind.

Decide what kind of travel agent you want to be.

Having a specific focus on the kind of travel experience you want to provide allows you to build the knowledge and resources to best help those specific clients. Suppose you want to work in corporate travel: Building your skills according to your niche clientele and field will help you sharpen the skills you need to develop your expertise.

Learn about the travel industry and its trends.

The travel agency field is constantly shifting, so it's important to stay up-to-date on industry changes and trends to know what you should be offering clients. People's preferences are ever-changing, so knowing what's hot and what's not is crucial. Spend time learning which places are popular and unpopular based on the season, or which restaurants are staple visits. This shows a solid and up-to-date understanding your clients will appreciate.

Build your communication and interpersonal skills.

A large part of being a travel agent is advising your clients and earning their trust, which doesn't happen overnight. Presenting yourself as knowledgeable and approachable can encourage them to trust your judgment and recommendations. This is especially important if you're not working with a travel agency, because you'll have to rely more on your brand and relationships instead of leaning on a company's reputation.

Maintaining a healthy balance of communication between you and your clients is also essential, which means scheduling phone calls, in-person meetings, keeping up with emails, and any other form of communication your client prefers.

RELATED: 9 Ways Flying First Class Can Actually Save You Money, Travel Experts Say .

Get certified if you can

Getting a certificate can be pricey and cost hundreds of dollars . So, if this option is not feasible for you, that's understandable. However, while certification isn't a requirement to become a travel agent, it can certainly help you throughout your career. Here are a few certificate programs to consider.

Certified Travel Counselor

This Travel Institute certificate requires at least five years of experience and a Certified Travel Association certification. This course focuses on marketing and building consumer relationships. CTC costs $550 to complete the course and $600 for the CTC Fast Track.

Certified Travel Industry Executive

CTIE is also backed by the Travel Institute and requires at least five years of field experience. This $550 program includes courses on travel business, marketing management, bookkeeping, and travel law.

ASTA Verified Travel Advisor

This certificate is given by the American Society of Travel Advisors and teaches applicants about the legalities of travel and how to solidify relationships with consumers. The nine-course program also focuses on ethical travel advising, agency law, and travel agency compliance.

For ASTA members, the course is $399, and for nonmember independent contractors, it's $598. Travel Advisor nonmembers pay the steepest price, which is $729, and $179 for recertification.

RELATED: 7 Hacks for Flying With Just a Carry-On—No Matter How Long Your Trip Is .

How much do travel agents make?

According to Indeed , travel agents make an average of $53,924, and salaries can range between $30,131 and $96,506, depending on where you live. But other factors can affect an agent's earning potential, like working independently instead of for a travel agency.

A travel agent's income also depends on their area of travel. The Hotel Agency Review 2023 report revealed that corporate and luxury travel agents earn much more than agents who focus on Disney and cruise trips.

Your experience level can also impact your earning potential, as agents who have worked in the field longer are typically viewed as more qualified.

RELATED:  The 7 Best Cruises to Book If You're Over 60 .

Do travel agents get discounts on flights?

Being a travel agent doesn't automatically mean you get tons of discounts and deals, but they do have access to perks that can help make planning trips easier and less expensive. Travel agents have the inside scoop on reduced rates because of their relationships with hotels and airlines. As a result, agents share these negotiated prices with their clients to help them save. Agents can, of course, also benefit from this insider knowledge and save money on their own trips.

Thanks to their agents, clients can enjoy luxury accommodations at high-end hotels like Hyatt Privé, Hilton Impresario, Marriott STARS&Luminous, Four Seasons Preferred Partner, and Mandarin Oriental Fan Club, to name a few. These perks range from spa services and later checkout times to room upgrades and complimentary breakfast.

How do you make money as a travel agent?

There are several ways a travel agent can make money in their field beyond selling travel packages or working for an agency.

Travel agents can charge a service fee, which is a base pay clients cover along with any other charges.

Travel agents can also make commissions from their contracts with hotels, tour/excursion companies, cruises, car rental services, and airlines. Add-ons like insurance can also help boost an agent's income, if their client wants it.

Booking group tours can increase a travel agent's earnings because their commission is based on how much their clients purchase, so more people means more accommodations. For example, booking travel for destination weddings or family reunions is an excellent way to book multiple hotel rooms. It's such a lucrative strategy that some agents make group booking their niche, because managing just a few a year can bring in a substantial profit.

RELATED: The Best Day to Book Flights for Your Next Getaway .

Being a travel agent comes with many perks, but ultimately, becoming one takes a lot of dedicated effort. Taking the time to learn about the travel industry is a great way to expand your tourism knowledge and consumer communication techniques. Refining your skills and becoming certified is one of the best ways to attract and retain clients.

So, if becoming a travel agent sounds like the career for you, join this community of globetrotters and combine your love for adventure, great deals, and helping others plan impressive getaways.

In the meantime, you can sign up for our newsletter to enjoy similar career-building content, as well as the latest in wellness, entertainment, and travel.

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COVID-19 challenged travel and tourism companies to think more boldly than ever. As these companies navigate continued changes to the industry, those that remain flexible and adaptive stand to gain significant market share and security. And fundamentals—like managing pricing and customer relationships—coupled with innovation will be key to a strong post-crisis performance.

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In 2000, during a period of slow growth for airlines, five major US carriers—American, Continental, Delta, Northwest, and United —joined forces to create the travel portal Orbitz. BCG was involved in designing, building, and launching the startup from the beginning. Five managers from BCG oversaw operations, finance, IT, corporate development, and HR, and helped build a company that sold in 2004 for $1.25 billion. More recently, in partnership with Jeff Katz, the founding CEO of Orbitz Worldwide, BCG cofounded Journera , an industry-wide platform that provides secure, real-time data exchange to help companies create more seamless travel journeys. When it comes to big ideas, we don’t simply consult. We co-create.

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The travel industry is no stranger to disruption. And in the post-pandemic world, travel companies must continuously reinvent to outwit unforeseen circumstances, while providing cohesive, elevated experiences for customers.

of consumers plan to travel for leisure in the next 12 months

of travelers find their travel experiences unauthentic

of travel executives interviewed agree that technology plays a critical role in all current and future reinvention strategies

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How to reinvent travel

Offer more in your traveler experience, equip your people with the technology needed to compete in the new era of travel, bring together people and technology to transform your business.

Define your pathway to sustainability

Build a post pandemic growth strategy that creates revenue streams fit for future growth, cultivate the skills needed to deliver world-class traveler experiences.

Give customers the seamless, end-to-end experience they’re craving, and solve their travel challenges, with automation, data and AI. Improve their retail interactions, customer service and loyalty programs — all while diversifying your revenue streams.

of consumers having at least one trip this year will “treat themselves” with meaningful experiences.

Inspire travelers to go big

Reclaim leisure demand through new sources of inspiration. Grow the corporate traveler segment by thinking holistically about the experience. Proactively capture demand signals and fuel lead generation and booking with an AI-powered growth engine.

Accelerate your business with retailing

Develop a retailing strategy with new offer and order capabilities. Offer differentiated products and seamless booking experience that surpass any third-party proposition.

Meet new traveler needs

Staying close to the travelers’ changing needs and expectations will allow you to anticipate and meet new demands and create relevant experiences and personalized customer service.

Improve your technology foundations

Focusing on new technologies such as cloud, data and AI will transform the way your company interacts with travelers and enable them to deliver a seamless end-to-end experience.

Shift your focus from legacy to transformative technology and deliver change faster

Embark on a transformation journey to modernize the technology landscape, bringing forth agility, innovation and resilience, underpinned by cloud.

of travel companies say legacy technology is the main barrier in delivering their reinvention strategy.

Shorten the timeline from concept to launch

Accelerate innovation, from idea to execution, to bring travelers the products and experiences they want, faster than ever.

Break down siloes across your organization

Free your organization from legacy technologies and processes that don’t talk to each other, getting in the way of real-time collaboration and long-term growth.

Collaborate closer with ecosystem partners

The cloud and technology transformation can help you connect with airports, customs, online travel agencies and all your partners — seamlessly, in real time.

Transform your organizational culture

Build a future-focused, customer-centric organization that not only empowers employees with innovation — it becomes more attractive to new talent.

Redirect your budget to fuel business growth

Cloud-based tools and processes cut costs on IT infrastructure, allowing you to focus spending on innovation that drives recovery and business growth.

Deliver on your commitment to sustainability

By migrating to the cloud with a partner committed to sustainability, you can reduce carbon emissions and improve energy efficiency.

Employ cross-organizational data and insights to improve performance, lower costs and make faster decisions.

of travel organizations call their operations future-ready, while 58% believe they are on their way to becoming future-ready because they have some predictive operations capabilities today.

Lead with data to create an insight-rich organization

With intelligent operations, data is behind the strategies and approaches for complex commercial decisions, and it automates operational decision-making.

Increase your revenue

Optimize your fixed asset base by automating deployment analytics, augmenting revenue management, marketing and corporate sales processes.

Improve your operational efficiency

Identify opportunities for continuous improvement, so your assets and people can deliver exceptional experiences without adding cost or effort.

Build a future-ready culture

Support your people with consistent access to strategic insights — and become an efficient, flexible company that is focused on growth.

You’ll reap tangible benefits by prioritizing responsible practices, as customers, investors, employees and regulators expect companies to reduce their impact on the climate. But that’s not the only reason to act — it’s the right thing to do.

of consumers say the environment is their second biggest concern after the national economy — and well ahead of their personal financial situation.

Grow your customer base

When 59% of people say they would switch to a sustainable travel provider, sustainability has clearly become a growth opportunity.

Reduce costs

Save money by implementing sustainable business operations, such as using fewer resources and building smarter supply chains.

Mitigate risks

As regulations become stricter and implemented at a faster pace, companies that put sustainability practices into place now minimize their exposure to risk.

Ensure access to funding

Investors are putting sustainability at the center of their decisions, so companies without clear sustainability plans risk losing access to capital.

Strengthen brand reputation

Positive sustainability actions result in positive brand reputation. Social media on this hot-button issue can build or destroy a company‘s reputation in minutes.

Increase workforce retention

Hiring and retaining employees in the travel industry is a challenge. Employees want to work for companies that protect the planet.

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What’s trending in travel

How can Gen AI improve the end-to-end travel experience? In this blog we explore the quick wins and long-term bets to ensure that the industry can start getting the most out of Gen AI across the value chain.

Accenture explains how the aviation industry can prepare for disruption and achieve operational transformation by leveraging data and AI assets.

Accenture & American Hotel & Lodging Association launched a survey on sustainability in the hospitality industry examining environmental initiatives.

How resilient consumers are adapting in an era of volatility.

Transforming the passenger experience.

Five imperatives the C-suite must address to reinvent in the age of generative AI.

The travel industry is on the cusp of a new era. Companies that understand and prioritize investments in the big innovations—cloud, metaverse, AI and data—are going to play the biggest part in shaping the future of travel.

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10 Most impactful travel technology companies in 2024

1. travelperk.

• Headquarters: Barcelona, Spain
• Other office locations: London, Birmingham, Edinburgh, Berlin, Chicago, Boston, Miami
• Number of employees: 1,200
• Funding: Raised a total of US $513 million

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2. getyourguide.

• Headquarters: Berlin, Germany
• Other office locations: 18 global offices, including Vienna, Bangkok, New York  City, Dubai, and more
• Number of employees: 700+
• Funding: Raised a total of US $878 million over 11 rounds

3. Tripadvisor

• Headquarters: Needham, Massachusetts, United States of America
• Other office locations: 18 global offices, including New York City, London, Milan, Seoul, Sydney, Tokyo, and more 
• Number of employees: 2,845
• Funding: Raised a total of US $303.3 million over 5 rounds

4. Booking.com

• Headquarters: Amsterdam, Netherlands
• Other office locations: Manchester, Tel Aviv, Singapore, New York, Shanghai
• Number of employees: 23,600

5. Hotel Engine

• Headquarters: Denver, Colorado, USA
• Other office locations: Glendale, Colorado
• Number of employees: 500+
• Funding: Raised a total of US $81 million over 2 rounds

6. Lighthouse (formerly OTA Insight)

• Headquarters: London, UK
• Other office locations: Singapore, Ghent, Berlin, London, Dallas, Denver, Sydney
• Funding: Raised a total of US $115 million over 6 rounds
• Headquarters: San Francisco, California, United States of America
• Other office locations: Los Angeles, New York City, Berlin, Paris, and more
• Number of employees: 6,907
• Funding: Raised a total of US $6.4 billion over 30 rounds

8. Blablacar

• Headquarters: Paris, France
• Other office locations: Madrid, Warsaw, Kyiv, São Paulo
• Number of employees: 600
• Funding: Raised a total of US $565 million over 11 rounds

9. Timeshifter

• Headquarters: Water Mill, New York, USA
• Other office locations: Southampton, New York, USA
• Number of employees: 11-20
• Funding: Raised a total of US $4.9 million over 3 rounds
• Other office locations: Prague, Beijing, London, New York
• Number of employees: 300
• Funding: Raised a total of US $480 million over 8 rounds

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25 Hotel Industry Statistics [2023]: Hotel Rate Trends And Market Data

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Research Summary. The hotel industry not only reaches across the globe but also spans a wide cross-section of options ranging from budget motels to luxury resorts, making it an interesting field to study. Here are the key statistics on the hotel industry:

There are at least 187,000 hotels in the world as of 2023.

There are an estimated 17.5 million guestrooms in the world.

The global hospitality industry is worth over $4.548 trillion as of 2022.

There are about 1.6 million people employed by the U.S.’s accommodation industry.

The global travel and tourism industry was worth $4.671 trillion in 2020 , down from its $9.17 trillion value in 2019.

The average U.S. hotel occupancy rate is 64.2% as of February 2023.

Hotel Industry Statistics by Consumer Preferences

78% of millennials would rather spend their money on experiences than on things.

Hotels with a significant number of high-quality photos on their websites see a 15% increase in conversion rates.

This is compared to hotels that use few and/or low-quality photos. Including good photos of hotel rooms and amenities helps travelers know what they’re getting into and better imagine themselves there.

TripAdvisor shared that the number of photos a hotel has on its TripAdvisor profile has the most impact on traveler engagement with the listing.

More specifically, properties with at least one photo see a 138% increase in engagement and are 225% more likely to receive a booking inquiry, and those with over 100 photos see a 151% increase in engagement and are 283% more likely to receive a booking inquiry.

Europe has the highest hotel occupancy rate of any region in the world.

As of 2019, European hotels have an occupancy rate of 72.2%, meaning an average of 72.2% of all hotel rooms are occupied.

US Hotel Industry Statistics

There are 90,562 hotel and motel businesses in the U.S.

This number is a 0.4% increase from 2021, which is on trend with the average annual growth rate of 0.4% that this industry has seen from 2017 to 2022.

There are approximately 5.29 million hotel rooms in the U.S.

The U.S. hotel and motel industry is worth $177.6 billion.

This industry is predicted to grow by 33.6% throughout 2022 as it continues to recover from the COVID-19 pandemic, although it’s seen an average annual decline of 2.4% from 2017 to 2022.

The U.S. tourism industry was valued at $545.11 billion in 2020.

In 2020, U.S. hotels had an average occupancy rate of 44%.

Hotel Industry Statistics by Employment

The U.S.’s accommodation industry employs about 1.6 million people.

In Q1 2019, there were 1.352 million gross job gains in the U.S. leisure and hospitality sector.

Here are data points for each quarter from Q1 2019 through Q2 2021.

In Q1 of 2019, there were 1.22 million gross job losses in the U.S. leisure and hospitality industry.

Here are the numbers for each quarter following that through Q2 2021:

The average employee of the U.S. leisure and hospitality industry makes $19.44 an hour.

32% of U.S. leisure and hospitality industry employees have access to employer-sponsored health care.

43% get paid vacation from their employers, and 50% receive paid sick leave .

Hotel Industry Trends and Projections

In 2019, the global hotels and resorts market was worth over $1.5 trillion.

This was just before the COVID-19 pandemic caused widespread lockdowns in 2020, and it was the pinnacle of seven years of nearly continuous growth.

From 2021 to 2025, the global hotel and travel accommodation industry is projected to have a CAGR of 7%.

This will result in a market value of $1.05 trillion in 2025. In 2020, the global hotel and travel accommodation market was worth $673.02 billion, and it grew to $801.9 billion in 2021, which is a CAGR of 19.1%.

In 2020, travel and tourism contributed $4.671 trillion to the global GDP.

While this is a significant amount of money, it is also a significant decrease from the $9.17 trillion it contributed in 2019. This is a result of the 2020 COVID-19 lockdowns that significantly reduced the amount of travel in the world.

From 2008 to 2018, the number of hotels around the world has increased by nearly 14,300.

Hotel Industry Statistics FAQ

What is the growth rate of the hotel industry?

The growth rate of the hotel industry is 19.1%. This was the CAGR from 2020 to 2021 as the global hotel industry reopened after the COVID-19 pandemic lockdowns began to lift.

What are the four segments of the hospitality industry?

The four segments of the hospitality industry are Food and Beverage, Accommodation (also referred to as Lodging), Travel and Tourism, and Entertainment and Recreation.

You don’t necessarily have to be traveling to enjoy the hospitality industry’s offerings. The Food and Beverage sector, for example, includes restaurants , bowling alley food, and concessions stands, not just hotel restaurants. As a result, this is the largest sector of the hospitality industry.

The Accommodation or Lodging sector includes hotels, campgrounds, rental homes, and any other facility that gives people a place to sleep. This includes resorts, motels, and hostels all alike.

The Travel and Tourism sector covers the actual act of traveling via airlines, cruise ships, trains, taxis, and more. Whether you’re traveling for leisure or business, chances are you’ll utilize at least one of travel and tourism’s offerings on a trip.

The last sector of the hospitality industry is Entertainment and Recreation. This sector is made up of all the activities that people do just for the enjoyment of it. These include:

Swimming pools

Spectator sports

Movie theaters

Participatory sports (e.g., scuba diving, golf, tennis)

Amusement parks

How many American hospitality workers were fired or laid off in 2020?

10.65 million American hospitality workers were fired or laid off in 2020. While About 1.2 to 1.4 million people in this industry lost their jobs each quarter throughout 2019, 1.695 found themselves unemployed in Q1 2020, and a whopping 6.331 million were suddenly unemployed in Q2 2020 due to the COVID-19 pandemic lockdowns.

Is the hotel industry recovering?

Yes, the hotel industry is recovering. The global hotel and travel accommodation industry is expected to have a CAGR of 7% from 2021 to 2025.

What are the latest trends in the hotel industry?

The latest trends in the hotel industry are high-tech, green facilities, alternative accommodation options, and incorporating experiences into hotel stays.

Hotels are beginning to implement more and more smart technology, whether it’s a keyless entry or turning on the AC with an app. In addition, many hotels are looking for ways to reduce their carbon footprint by conserving water, reducing single-use plastics, and earning their LEED certifications.

Another hotel industry trend is that travelers (especially millennials) are looking more toward alternative accommodation options, whether that’s a rental house or villa, a mobile home, or hotels with a personality that reflect the local culture rather than standardized branding.

Hotels are responding to this by focusing on opening boutique hotels and facilities that bring unique elements to their decor, amenities, and even floor plans.

The hotel industry is a major player in the global and U.S. economies. In 2022, the global hotel industry was worth more than $4.548 trillion and is projected to see a CAGR of 7% from 2021 to 2025. In the U.S. alone, the hotel and motel industry is worth $177.6 billion, and the tourism industry is worth $545.11 billion.

Lockdowns in response to the COVID-19 pandemic in 2020 significantly impacted this industry. The worldwide travel and tourism industry contributed $4.671 trillion to the global GDP in 2020, which is just over half the amount it contributed in 2019 ($9.17 trillion).

In the U.S., over seven million leisure and hospitality industry employees lost their jobs during the first six months of 2020, compared to the just over five million that found themselves unemployed throughout all of 2019. Hotel occupancy rates also dropped by 33.3% from 2019 to 2020.

Eventbrite. “ Millennials: Fueling the Experience Economy. ” Accessed on February 16, 2022.

Medium . “ The Importance of Imagery on Hotel Websites. ” Accessed on February 16, 2022.

Frederic Gonzalo. “ Photos Impact Bookings More Than Reviews. ” Accessed on February 16, 2022.

Statista. “ Occupancy Rate of the Hotel Industry Worldwide From 2008 to 2019, by Region. ” Accessed on February 16, 2022.

IBISWorld. “ Hotels & Motels in the U.S. – Number of Businesses 2005-2027. ” Accessed on February 16, 2022.

Statista. “ Number of Hotel Rooms in the United States From 2017 to 2020, by Chain Scale Segment. ” Accessed on February 16, 2022.

IBISWorld. “ Hotels & Motels in the U.S. – Market Size 2005-2027. ” Accessed on February 16, 2022.

Statista. “ Market Size of the Tourism Sector in the United States From 2011 to 2020, with a Forecast for 2021. ” Accessed on February 16, 2022.

Statista. “ Occupancy Rate of Hotel Industry in the United States From 2001 to 2020. ” Accessed on February 16, 2022.

U.S. Bureau of Labor Statistics. “ Accommodation: NAICS 721. ” Accessed on February 16, 2022.

U.S. Bureau of Labor Statistics. “ Economic News Release: Employment Situation Summary. ” Accessed on February 16, 2022.

U.S. Bureau of Labor Statistics. “ Databases, Tables & Calculators by Subject: Gross Job Gains for the Leisure and Hospitality Sector in the U.S. (Rounded to the Nearest Thousands.) ” Accessed on February 16, 2022.

U.S. Bureau of Labor Statistics. “ Databases, Tables & Calculators by Subject: Gross Job Losses for the Leisure and Hospitality Sector in the U.S. (Rounded to the Nearest Thousands). ” Accessed on February 16, 2022.

U.S. Bureau of Labor Statistics. “ Leisure and Hospitality. ” Accessed on February 16, 2022.

IBISWorld. “ Global Hotels & Resorts – Market Size 2005-2027. ” Accessed on February 16, 2022.

Globe Newswire. “ Global Hotel and Other Travel Accommodation Market Report 2021: Market is Expected to Grow From $673.02 Billion in 2020 to $801.9 Billion in 2021 – Long-term Forecast to 2025 & 2030. ” Accessed on February 16, 2022.

Statista. “ Total Contribution of Travel and Tourism to Gross Domestic Product (GDP) Worldwide From 2006 to 2020. ” Accessed on February 16, 2022.

Statista. “ Total Number of Hotels Worldwide From 2008 to 2018. ” Accessed on February 16, 2022.

Hospitality Net. “ What Are the 4 Segments of the Hospitality Industry. ” Accessed on February 16, 2022.

Hotel Tech Report. “ 100 Hotel Trends You Need To Watch in 2022 & Beyond. ” Accessed on February 16, 2022.

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Abby is a writer who is passionate about the power of story. Whether it’s communicating complicated topics in a clear way or helping readers connect with another person or place from the comfort of their couch. Abby attended Oral Roberts University in Tulsa, Oklahoma, where she earned a degree in writing with concentrations in journalism and business.

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UN Tourism | Bringing the world closer

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A United Vision for Nature - 'Nature Positive' Report Marks New Collaborative Era in Travel & Tourism

• All Regions
• 22 Apr 2024

WTTC, UN Tourism and the Sustainable Hospitality Alliance join forces to support Nature Positive Tourism

The leading players of Travel & Tourism globally have published a landmark joint report setting out their joint plan to help halt and reverse biodiversity loss.

Launched on Earth Day 2024, "Nature Positive Travel & Tourism in Action" is the creation of the high-level 'Nature Positive Tourism Partnership, made up of the World Travel & Tourism Council ( WTTC ), the World Tourism Organization ( UN Tourism ) and the Sustainable Hospitality Alliance ( the Alliance ).

For years, UN Tourism has been at the forefront of integrating tourism into the broader UN biodiversity agenda, including supporting the work of the Secretariat of the Convention on Biological Diversity (CBD)

Developed in collaboration with specialist consultancy ANIMONDIAL, the report is the sector's pledge to support the implementation of the Kunming-Montreal Global Biodiversity Framework (GBF), the UN's Biodiversity Plan.

It presents more than 30 case studies of inspiring and progressive actions from around the world involving large and small businesses, national and local government agencies, civil society groups, and inter-sectoral partnerships.

By offering actionable guidance and insights, this report not only highlights the intrinsic link between biodiversity and tourism's resilience, but also empowers businesses to become stewards of nature.

Historic partnership for nature

Ms. Julia Simpson, WTTC President & CEO , said: "This historic partnership with Travel & Tourism heavyweights is a significant step in our collective journey towards a more sustainable and responsible sector. This report is not merely a publication but a movement towards integrating environmental stewardship into the core of travel experiences. As we celebrate Earth Day, let us heed the call to nurture and protect our destinations. Our sector's reliance on nature, coupled with our expertise in creating inspiring and memorable experiences, means we are ideally placed to be guardians of nature."

Mr. Zurab Pololikashvili, Secretary-General of UN Tourism , said: "For years, UN Tourism has been at the forefront of integrating tourism into the broader UN biodiversity agenda, including supporting the work of the Secretariat of the Convention on Biological Diversity (CBD). This pivotal new collaboration among key global players sets a robust framework for sustainable practices that not only drive significant impact but also exemplify the power of united efforts in conserving biodiversity. This report is a testimony to what we can achieve together for nature's preservation, inspiring a global movement towards more sustainable and resilient tourism."

Mr. Glenn Mandziuk, Sustainable Hotel Alliance CEO , said: "This report is a milestone for Travel and Tourism, representing our commitment as an industry to protect and conserve nature. The Alliance is proud to contribute to and collaborate on this insightful and action-orientated report which will bring tangible change to destinations around the world, supporting biodiversity.  Nature underpins our society, economies and indeed our very existence. The hospitality industry is today a leader amongst industries in its Nature Positive approach and this report signifies how much our industry understands the true value of nature."  

Expert-led coalition

Recognising that the sector has a critical role to play in protecting and conserving biodiversity, the Nature Positive Tourism approach is designed to be a touchstone for actionable change. It focuses on equipping the sector with the tools and insights needed to nurture and protect destinations upon which it depends.

The commitment of the Partnership to work towards "net positive for nature" draws on extensive consultation with experts from business, government, academia and civil society, including the International Union for Conservation of Nature (IUCN) and the World Commission on Protected Areas (WCPA).

The report, which follows the 2022 WTTC report "Nature Positive Travel & Tourism", includes practical frameworks and real-world examples that encourage both travel providers and travellers to embark on journeys that contribute to the conservation of our natural treasures.

Related links

• Download News Release on PDF
• Report “Nature Positive Travel & Tourism”
• UN Tourism Biodiversity
• Sustainable Hospitality Alliance

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