AI influences Merger and Acquisition trends of Travel and Tourism Industry

Posted by Deeksha on November 18th, 2019

Travel and tourism industry is globalized, giving rise the increased tendency of mergers and acquisitions which allows the major players to position themselves in global market place. Major stakeholders and companies are expanding their business to suffice the increasing technological, regulatory and economic demands. An intelligence report titled, “Mergers & Acquisitions in Travel and Tourism-Thematic Research” is the source of all the stated insights. This report is the latest addition to Market Research Hub’s ever growing repository.

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Two major factors that include increase in purchasing power of global consumer and enhanced digital innovations cumulatively fuel travel and tourism industry growth. Digital innovations such as airline and hotel apps create lattice for new segments to enter market. The major driving factors for mergers and acquisition include improvement in bargaining power, quest to gain technological edge and acquiring greater market share. Some businesses use acquisitions as strategic learning opportunity. Travel companies are strategizing investments in emerging technologies and are creating venture capital funds dedicated to form partnerships with private companies. These partnerships let the companies embrace innovative products and services to maintain their core competencies along with attaining higher customer satisfaction.

Chatbots make booking easy

Shiji Group’s acquisition of StayNTouch is a major M&A activity in tourism and travel industry where StayNTouch is a cloud-based suite that offers hotel management solutions. This acquisition benefits StayNTouch with new opportunities to expand across the globe and develop exciting products with the help of Shiji Group’s network support and sales team. Flight Centre bought Unmapped which is a well-known itinerary and experience platform. First Centre’s world class infrastructure, partnerships and industry influence is expected to supplement Unmapped with opportunities such as accelerated technology adoption and more expanded product offering.

Online travel agencies such as booking.com are also practicing merger and acquisition trends to get closer to startups. Booking.com acquired Evature to gain advantage of artificial intelligence-based innovations. AI assisted technologies that include chat bots and natural language searches are expected to make booking interfaces more user-friendly.

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Mergers & acquisitions in travel and tourism: Report Synopsis

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Mergers & acquisitions in travel and tourism: Research Methodology

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