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TravClan plans to onboard two million travel agents, Hospitality News, ET HospitalityWorld

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TravClan plans to onboard two million travel agents, Hospitality News, ET HospitalityWorld

TravClan plans to onboard two million travel agents, Hospitality News, ET HospitalityWorld

TravClan, a B2B Travel Platform aims to onboard more than two million travel agents/companies across more than 100 countries doing business of 10 billion dollars on the platform. Starting with just ten employees in October 2018, the company clocked INR 100 crore in sales run rate by December 2019. Even in the wake of the pandemic, TravClan continued growing and we are a 60-plus team today. Recently, the travel platform launched the B2B flight booking and hotel booking platform for agents. ET HospitalityWorld spoke to Arun Bagaria, Co-founder, TravClan to know more about the company.

ETHospitalityWorld (ETHW): Tell us about your business model
Arun Bagaria (AB): TravClan is a disruptive B2B Travel Platform bringing in the technology-driven transformation to the US $100 billion offline travel market in India and South-East Asia. TravClan empowers travel agents by helping them generate more business by building their online presence and enabling travel agents to book flights, hotels, holidays with suppliers across the world at best B2B prices. TravClan offers a number of advantages to traveling agents and helps them accelerate their growth as a service provider. The company provides agents with online stores that offer instant bookings and help them market their business on social media. It is a comprehensive B2B platform selling flights, hotels and packages. The company offers Fintech solutions for the travel agents such as overseas payments, enables credit, Forex cards and insurance etc.

ETHW: How has the pandemic impacted your business?
AB: The pandemic has made an adverse impact on the entire travel ecosystem. International tourism, especially from India, is at a standstill and at present, even domestic tourism is limited due to the second wave of the disease. However, we have been constantly progressing as a brand and building infrastructure, bringing travel agents and suppliers on board. We are preparing a robust B2B community that will stand to gain from the best prices and holistic services offered by TravClan. The future of travel is going to be primarily dependent on 2 factors: travel agents and digital technology and we are bringing these two factors together. In the wake of the pandemic, we continued to innovate and launched a platform where travel agents can setup their online website in a few clicks. Right now, we have recently launched a feature that allows customers to view vaccine availability info in their locality on agents website in an easy way.ETHW: How the platform is profitable for travel agents? How many do you have onboarded as of today?
AB: TravClan offers unmatched benefits and services for travel agents. We are empowering offline agents by providing them with a fully functional website to market their packages through social media, receive bookings and payments online. Furthermore, we also offer the best price deals on flights and hotels through direct access to suppliers. Receiving payments from customers and paying to suppliers digitally are two major challenges for all travel agents, and we have resolved these through our integrated payment solutions. Thus, TravClan has emerged as the one-stop platform that resolves all problems faced by travel agents and provides them with great growth opportunities for the future. We have built a strong content and community in travel by helping agents stay updated with travel news and upskill themselves by attending webinars hosted by various Tourism Boards on TravClan. These community led initiatives have helped us grow through word of mouth. We have already onboarded more than 10,000 travel agents and our aim is to take the number to 2 million plus in the years ahead.ETHW: What makes you stand out from others in the market?
AB: Our holistic product offering right from helping in lead generation to creating invoices and collecting feedback from customers and covering every aspect of the travel business, is unique and disruptive in the industry. Our technology is transforming the $100 billion-plus offline travel market in India and South East Asia by bringing technology to the travel agents in a seamless and holistic manner. Starting with WhatsApp groups in late 2018, TravClan has already emerged as a major B2B platform. It has become the platform of choice for travel agents and helps them generate leads online, create their website, planning packages and itineraries and offering the best prices for global hotel bookings as well as flight tickets. Unlike other aggregators and B2B players, TravClan is focused on empowering the travel agents and giving them technology-driven solutions to fuel their growth. We also offer Fintech solutions for payments overseas to the suppliers and for receiving payments from their customers.

ETHW: What are your expansion plans?
AB: TravClan has shown incredible growth right from the outlet. Starting with just 10 employees in October 2018, the company clocked INR 100 crore in sales run rate by December 2019. Even in the wake of the pandemic, TravClan continued growing and we are a 60-plus team today. Recently, we launched our B2B flight booking and hotel booking platform for agents. TravClan aims to onboard more than 2 million travel agents/companies across 100+ countries doing business of $10 billion-plus on the platform. We will become the biggest B2B travel company in the world and enable all our partners to harness their maximum growth and revenue generation potential.

  • Published On May 26, 2021 at 03:31 PM IST

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Global Online Travel Agent Market Report 2023: Players

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Global Online Travel Agent Market Report 2023: Players

Dublin, May 10, 2023 (GLOBE NEWSWIRE) — The “Online Travel Agent Global Market Report 2023” report has been added to ResearchAndMarkets.com’s offering.

This report provides strategists, marketers and senior management with the critical information they need to assess the market.

The global online travel agent market will grow from $761.9 billion in 2022 to $865.5 billion in 2023 at a compound annual growth rate (CAGR) of 13.6%. The online travel agent market is expected to grow to $1,060.01 billion in 2027 at a CAGR of 5.2%.

Major players in the online travel agent market are Booking.com, Expedia Inc., Ctrip, TripAdvisor, Trivago, eDreams Odigeo, Despegar, MakeMyTrip, Lastminute, and On the Beach, Alibaba Group Holding Limited, Hostelworld Group, Hotel Urbano Travel and Tourism SA, Fareportal Inc., Trivago GmbH, ThomasCook Group, Priceline Group Inc., HRS, Agoda, Airbnb Inc., and Hotel.de.

Reasons to Purchase

  • Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
  • Understand how the market has been affected by the coronavirus and how it is responding as the impact of the virus abates.
  • Assess the Russia – Ukraine war’s impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
  • Measure the impact of high global inflation on market growth.
  • Create regional and country strategies on the basis of local data and analysis.
  • Identify growth segments for investment.
  • Outperform competitors using forecast data and the drivers and trends shaping the market.
  • Understand customers based on the latest market shares.
  • Benchmark performance against key competitors.
  • Suitable for supporting your internal and external presentations with reliable high quality data and analysis

The online travel agent market consists of revenues earned by entities that are involved in selling travel services through online channels. Travel agents are involved in the sales of travel services such as flights, buses, vacation packages, hotels, and rental cars via online networks. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

Online travel agents or agencies are individuals or companies with websites that allow consumers to book various travel-related services via the internet. Online travel agents invest in marketing and advertising to attract potential international customers.

Asia Pacific was the largest region in the online travel agent market in 2022. Western Europe was the second largest region in the online travel agent market. The regions covered in the online travel agent market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

The main types of services in online travel agents are vacation packages, transportation, and accommodation. A package tour, package vacation, or package holiday is a combination of transportation and lodging advertised and offered by a tour operator. The different platforms include mobile/tablets based, desktop based and are available in various categories such as hotel bookings, tickets, and others.

The surge in smartphone users along with growing internet penetration is anticipated to boost the online tourism industry and the business for travel agents during the period. Increasing penetration of the internet and growth in the number of smartphone users is contributing to the consumer shift towards online channels for travel tickets and hotel bookings.

Rising possibility of uncertain events such as the COVID-19 outbreak or natural calamities is projected to limit the growth of the tourism industry and online travel agents. According to the UNWTO estimates, global international tourist arrivals in 2020 are predicted to fall by 20% to 30% compared to the previous year, which translates into a loss of $30-50 billion in travel spending by international visitors.

Thus, the online travel agent market is to record a decline in 2020 thanks to the impact of COVID-19 across the globe. Moreover, according to Travel Daily Media news, Typhoon Mangkhut jolts Hong Kong and China leaving the tourism, aviation, and transportation industry at standstill. Therefore, the possibility of natural events is probably restraining the growth of the tourism industry including the online travel agent market during the coming years.

Growing initiatives by the government of various countries to promote tourism and build strong tourism infrastructure to boost the revenues generated from the tourism industry is a major trend propelling the growth of the online travel agent market during the period. For example, according to The Budget 2022, the Government of India allocated an additional amount of INR 2400 crores ($307.12 million) to the Ministry of Tourism.

This budget is 18.42% higher than 2021-22, and it will be used by the Ministry of Tourism for developing tourism infrastructure, marketing and promotion, and capacity building. Therefore, the government initiatives and steps to promote tourism and develop tourism infrastructure are to act as a key trend in the online travel agent market over the period.

The countries covered in the online travel agent market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).

The revenues for a specified geography are consumption values ​​- that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.

Key Attributes:

Report AttributesDetails
No. of Pages175
Forecast Period2023 – 2027
Estimated Market Value (USD) in 2023$865.5 billion
Forecasted Market Value (USD) by 2027$1060.01 billion
Compound Annual Growth Rate5.2%
Regions CoveredGlobal

Key Topics Covered:

1. Executive Summary

2. Online Travel Agent Market Characteristics

3. Online Travel Agent Market Trends And Strategies

4. Online Travel Agent Market – Macro Economic Scenario
4.1 COVID-19 Impact On Online Travel Agent Market
4.2 Ukraine-Russia War Impact On Online Travel Agent Market
4.3 Impact Of High Inflation On Online Travel Agent Market

5. Online Travel Agent Market Size And Growth
5.1. Global Online Travel Agent Historic Market, 2017-2022, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Online Travel Agent Forecast Market, 2022-2027F, 2032F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market

6. Online Travel Agent Market Segmentation
6.1. Global Online Travel Agent Market, Segmentation By Service Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

  • Vacation Packages
  • Transportation
  • Accommodation

6.2. Global Online Travel Agent Market, Segmentation By Platform, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

  • Mobile/Tablet Based
  • Desktop Based

6.3. Global Online Travel Agent Market, Segmentation By Category, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

  • Hotel Bookings
  • Tickets
  • Other Categories

7. Online Travel Agent Market Regional And Country Analysis
7.1. Global Online Travel Agent Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
7.2. Global Online Travel Agent Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

For more information about this report visit https://www.researchandmarkets.com/r/issuva

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

  • Global Online Travel Agent Market

Global Online Travel Agent Market Report 2023: Players

American Airlines Releases Travel Agents With Insistence on Changes to Airfare Sales

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American Airlines has ruled out delaying the removal of 40 percent of its airfares from traditional retail channels next month.

That’s despite lobbying by the American Society of Travel Advisors, which asked the carrier to push back its move date from April 3 to the end of the year.

The society, which represents 160,000 travel agency workers, wrote to the carrier on March 8, arguing that holding such a substantial portion of its fares from “critical independent distribution channels” would have a negative impact on corporate travelers.

With just two weeks to go, a spokesperson at American Airlines told Skift on Thursday that it was still a categorical “no.”

Bullying Accusation

In its letter, Zane Kerby, president and CEO of the American Society of Travel Advisors, said the “sudden bullying of valuable distribution partners into breakneck-speed implementation won’t serve our shared customers.”

The society claims many corporate travel agencies, global distribution systems (namely Amadeus, Sabre, and Travelport) and third-party booking technology partners, including Concur, have stated they will not be prepared to facilitate New Distribution Capability implementation by April.

New Distribution Capability is a controversial technology standard developed by the International Air Transport Association. The idea is to give airlines more control over their airfares, rather than relying on global distribution systems.

“Without significant and key front, mid and back-office travel fulfillment systems ready and able to fully process New Distribution Capability transactions, significant disruptions to shopping and booking, including ticketing, refunds and re-ticketing are inevitable,” the letter said.

American Airlines told Skift that it disagreed. “This is incorrect. “There are front, mid, and back office technology updates that need to be completed as everyone needs to invest in improving the customer experience,” said a spokesperson.

“American has spent the last 10+ years investing in its modern retailing technology and several travel sellers, technology aggregators and third-party corporate booking tools have also done the same. Currently, one out of every three travel agencies issued tickets for American comes through our New Distribution Capability technology,” they added.

During those 10 years there has also been a convoluted history of surcharges and fees. Some airlines feel they pay too much commission to the global distribution systems, so encourage direct bookings by penalizing bookings made through the likes of Amadeus, Sabre, and Travelport. For example, Germany’s Lufthansa in 2020 boosted the surcharge on tickets bought outside of its own channels to $21 fee in the US

Global distribution systems also share part of what they receive from airlines with the travel agency that made the booking.

As a result, New Distribution Capability to some extent disrupts business models. While in American Airlines’ case the three global distribution systems state they’re ready to adapt the new airfares, travel buyers and corporate travel agencies may prefer to work more directly with airlines in the future, as Lufthansa has done with Siemens.

An Unhappy Marriage

Flight Center Travel Group, which runs corporate divisions FCM Travel and Corporate Traveler, is one such agency that stands to be impacted by the April 3 switch.

“We’re not opposed to New Distribution Capability. We’ve made some investment in TP Connects to ensure we have access to all the new content. The concern is with respect to the timelines being enforced,” said Marc Casto, president of leisure, Americas, Flight Center Travel Group — and executive vice president, communications and government affairs, of the American Society of Travel Advisors.

“They’ve been signaling for a decade, but only released the plan of attack in the past six months,” he added. “Saying you’re going to get married, and actually setting the date, are two different things.”

The society insists there will be wide-ranging umbrella effects on the corporate travel buyer’s needs, which could also affect duty of care, policy compliance, insurance, pre-trip approvals and even the organization’s own insurance.

“All of us saw what occurred in December with the weather delays,” said Jay Ellenby, president of Safe Harbors Business Travel Group. “By making it more convoluted and more complex to service customers is going to result in a significant reduction in service capacity and quality. And particularly for ourselves, we have to contact call centers, which are already oversubscribed.”

Bookings are continuing to pick up. In the US, travel agency air ticket sales reached $8.4 billion in February, which is a 54 percent year-over-year increase in February 2022, according to Airlines Reporting Corporation.

In the UK, travel buyers at the Institute of Travel Management are worried they will soon face a deluge of complaints from travelers about fares being visible but not bookable in their online booking tool.

They also predicted a potential increase in leakage (where bookings are made outside recommended booking tools) and expressed frustration at the lack of readiness by agencies, booking tools and global distribution systems given the length of time that New Distribution Capability has been underway, based on feedback from a “Buyer Knowledge Exchange session” that took place earlier this week.

“Buyer members are feeling battered by the challenges of air content and lack of readiness for New Distribution Capability,” said Scott Davies, CEO of the institute. “Many have described it as a ‘mess.’”

A Reasonable Request

There are hopes American Airlines will meet the American Society of Travel Advisors half way by rolling out the new airfares in stages.

“It’s probably not going to happen by April 1, at least not all 40 percent moved at once,” said Steve Reynolds, CEO of audit and booking platform TripBam, in its March snapshot report.

Flight Centre’s Casto said the society’s request was “reasonable” and its arguments a “fair assessment” on all sides of the industry.

In the meantime, expect more back-and-forth arguments over the next two weeks, arguments that will be near-impossible to tell if factually correct due to the many commercial interests at stake.

UPDATE: An earlier version of this news article described Marc Casto as chair of the American Society of Travel Advisors.