bye bye travel agent...
The introduction of the world wide web not only fundamentally changed the travel experience, it also turned an entire industry on its head as new brands emerged to take advantage of it, while many traditional travel agencies were left struggling to keep up with the blistering rate of change. In 1994, travelweb.com emerged as the first comprehensive catalog of hotel properties around the world, which later included a component to book online. In 1996, Microsoft, the most high-profile technology company in the world, released their own attempt at an online travel agency, known as Expedia. The rest is history. The site set the pace for countless imitators and is still today one of the leaders in the travel industry. “Book on our website” started to replace “Book through your local travel agent”.
In 2000, TripAdvisor was born, and not many could have guessed a business located above a pizza parlor in Massachusetts would eventually become one of the most popular travel websites in the world. Tripadvisor was the most disruptive influences on the hotel industry, allowing travelers to be in constant control of their reviews, influencing the choices of future travelers and the future revenue of hotel companies. In 2008, Airbnb is released, introducing a whole new breed of travelers looking for a different way of experiencing their travel destination. Today, thanks to breakthroughs in technology and high-speed internet, travelers can book their own flight and hotels online or even choose to stay in a stranger’s house. Companies like Airbnb encourage younger people to explore sooner, and in a more cost-effective way. In fact, 60% of millennial leisure travelers are enthusiastic about the sharing economy like Airbnb because they seek adventure.
Technology has birthed the evolution of the travel industry as we know it today. Connecting and perfecting online bookings is what we do best here at Lexicon Travel Technologies and we look forward to connecting your company into the digital revolution of travel.
Join the movement.
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