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Wednesday 14 July, 2021
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Tripadvisor Plus announces first members
Three hotel groups have become the first to connect their accommodation portfolios to Tripadvisor Plus, a subscription service offering members-only rates and VIP perks.
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EDITOR'S COMMENT
14/07/21
• The subscription economy is ever-growing in volume and revenue. The latest Subscription Economy Index report (March 2021) shows that subscription businesses grow five to eight per cent faster than traditional businesses, and in 2020 demonstrated revenue growth of 11.6 per cent whereas product-based companies declined by -1.6 per cent.
For the travel and tourism industry, which in normal times relies to some degree on returning customers, the opportunity is vast. Some individual companies have entered the subscription space such as citizenM, and luxury destination club Inspirato (which claims to be the world's first travel subscription service) is set to go public in a $1.1bn SPAC merger. Tripadvisor is upping the ante however by rolling out its Tripadvisor Plus program worldwide.
Following beta testing in the US, the platform has signed its first three hotel groups at corporate level. Tripadvisor does not charge participating properties any commission fee on bookings, thereby allowing hotels to transfer this cost saving to members-only room rates and exclusive perks. It's a highly attractive model for distributing inventory, and the customer base a valuable one for building brand trust and loyalty.
When international travel resumes, tapping into a ready-to-book customer segment could serve hotels favourably in what might quickly become a competitive market. On this front, time will tell, though the statistics alone are a promising sign.
Scroll down for more of the week's news.
Eloise Hanson
Editor
+44 (0)7824 636 365
eloise@internationalhospitality.media
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