Why There is Still Hope for a Summer Recovery 2021

🕒 3 min.

It’s essential to stay up-to-date with OTA (Online Travel Agency) updates, especially in the trying times of the ongoing pandemic. OTA is a resourceful marketplace that provides its consumers with numerous hotels to choose from and book.

In Europe, OTAs have been growing as they offer an efficient and fast customer experience. Providing customers with images, reviews, room prices, filter tools, and location, OTAs have completely changed the tourism industry over the last decade. They are offering their clients the latest technology to make travel easier than ever before and connecting travelers with the best available hotels.

We have witnessed a huge struggle to generate bookings due to the pandemic over the past few months. People were simply afraid of traveling and getting out of their comfort zone. But this struggle appears to be ending.

Let’s take a look at how OTAs are making their way at increasing the number of bookings for up to 55% in the near future in Europe.

OTAs success rates in Europe so far and forecast for the future

The overall landscape of travel in Europe remains dependent on OTAs to this very day, especially when it comes to fragmented hotels and lodgings. The year 2020 was without a doubt a test for them, with limited travel options and closures of hotels during the pandemic.

A report on the forecast of the travel market in Europe from 2020 to 2024 conducted by Phocuswright shows that roughly 64% of online bookings have OTAs to thank, rather than direct online bookings.

OTAs strongly invest in growing as a market and have succeeded, especially when people go on prepackaged holidays. Luckily for OTAs, the vaccination rates in Europe are improving, despite the recent increase in the number of infections.

Even though the number of infections is fluctuating, it appears that this does not have an impact on travel. We can see a rise in leisure travel, with a presumption that OTA bookings will have an increase in volumes by no less than 55% (check the source at the end of the text).  

Importance of mobile apps in the OTA marketplace

OTA’s rely heavily on mobile apps, primarily because they have to compete with other suppliers in this field. Efficient mobile apps are their inevitable source of customer growth. Most OTAs have made considerable investments during the pandemic to improve their mobile platforms and technology – why?

OTAs are Online Travel Agencies, and everything is conducted online. Investing in clean, easy to interact with apps and apps that have user-friendly interfaces are all OTAs have to rely on to secure an increase in the number of their customers.

Reports on forecasts for European travel across countries from 2020-2024

If you are looking for more forecast data about how the tourism industry in Europe will evolve, keep reading.

All reports that will be listed below can be accessed through an Open Access subscription. They will line out the information on the travel industry of particular countries in Europe that is predicted for the next couple of years based on previous info and growing vaccination rates.

●        Report for the travel market in the U.K. 2020-2024;

●        Report for the travel market in Spain 2020-2024;

●        Report for the travel market in Scandinavia 2020-2024;

●        Report for the travel market in Italy 2020-2024;

●        Report for the travel market in Germany 2020-2024;

●        Report for the travel market in France 2020-2024;

●        Report for the travel market in Europe 2020-2024;

Along with the Open Access subscription available above, there are numerous other benefits. To name just a few, the Phocal Point is a tool included that allows excellent data visualization. In case of any doubts and questions, there’s an excellent service available – Customer Concierge. 

SOURCE: https://www.phocuswright.com/Travel-Research/Research-Updates/2021/ota-bookings-projected-to-climb-55-percent-in-Europe?utm_source=pcwi&utm_medium=email&utm_campaign=fyi

  • Mize is an AI-driven Travel-tech startup company that allows travel companies to increase their hotel bookings’ profits by more than 35%, optimizing their purchasing rates post-booking in a fully automated procedure. Mize monitors and processes millions of bookings and billions of US$ value each year.

Join the travel tech club!
We’ll be sending you curated materials handpicked to help you learn more about interesting topics on travel and technology.