Topics>>Keynote Panel: The Future of Online Distribution Business Models: Booking Bonanza or Bankruptcy for your Travel Company

Keynote Panel: The Future of Online Distribution Business Models: Booking Bonanza or Bankruptcy for your Travel Company

+

Tags:

  1. Davis Cup1:07:50
  2. Michael Jackson1:04
  3. South Korea16:01, 1:01:05
  4. White House21:11
  5. Michelle Obama8:25
  6. Hanover Germany23:52
  7. search engine10:18, 39:56
  8. billboard music awards1:00
  9. vice president2:21, 3:13
  10. house market18:26
Fri, 6 Jun 2014|

Alan Gertner, Industry Head, Travel, SEA, Google, Andy Sleigh, General Manager, APAC, Skyscanner, Debby Soo, Vice President APAC, Kayak and Traci Mercer, Vice President, Market Management - Asia Pacific, Expedia debate the future of online travel distribution

+

Automatically Generated Transcript (may not be 100% accurate)

-- So this. -- is showing live last week. The billboard music awards is no -- recognises did guy. Michael Jackson died in 2009. And the amazing thing about it is technology that built -- you can delivers -- and YouTube but basic you know maybe interplay between. -- technology. And as a consequence of the future -- -- sense are now what does the future allow business at night -- For amazing people. Let's join a panel today. -- -- -- -- to be. Even higher Alan from Google and any firms that's gonna. And we can get started the first Avastin to -- zero -- is that Tracy. Polio when you work for a lot of little known fact about. -- we sit down breakfast this morning of them might still work reach out to -- -- Many mostly seamless you can definitely unique bid. -- -- And I -- -- I am. EE her family and friends. I am the vice president for Asia Pacific bar hotel supplier relationships. And China -- this morning for a little known fact that our sons then. First survive that only -- fact that -- surprises they've influences they'd have something any finger but -- Summers -- when. -- when he heard my fellow panellists were going to be seeing about themselves which you will be might -- here. And I decided that matched the amount back to money itself is white cane seat mile iron bars in my -- -- -- -- at least in -- now may only will we can't make you -- publicly announced may be very interesting. Mile or so will have a demonstration there this evening. -- Thank him daddy CO -- from higher out and vice president of -- -- out. -- -- -- little known fact about myself. I don't know harder for Saab -- liberally. He can do -- maybe they did get one hours of sleep he. Analysts. -- Manhattan conscious living -- have a memory about redoing her time spent in the -- do as a general wired in the -- huge demand. How that's my one factor myself. Artistic. Talent. See just like everyone I'm -- in the German industry head in travel well -- and Singapore. -- items of in -- -- known -- let me ask something back a clear view jets Skid -- It was not something I imagine everyday in as a baby I don't know what I must have memories have not been -- Skid -- Starter and -- people doing so here at me now. Maybe. What everyone -- and easily on the general manager for -- slice scanner for Asia Pacific region. -- little known fact about -- is. Actually used to be about installer. Because I had back surgery. About a month ago and have peace of mind back. Removed. And look at all the first in the world to -- with so. -- -- crazy painkillers still so we'll start talking that Joaquin that's right -- So you're in BA career reserve. If it barely started -- importantly as it is definitely now I'm really. -- out -- do you see it as a model that we used to frame that discussion. It was put it back courts. Simon -- wanted to -- take what -- talked about the golden circle. What about why how and why it's OK. Absolute -- 199. At 90% of the people in this room will what it will work. Only 9% of the people in this room will know how to do it. But only 1% the people in this room know white. His point. They don't why it did think different. -- the company thinks different. How big do it is they build and leverage technology. And interface to build amazing product. What they actually do is they sell computer is an iPhone tonight it's. Of the horrible why is -- something beginning at. It's something that's huge and goes on into the future. How what will develop are obviously that's -- go away watch tech tops are new you ask us what's what your golden circle. But for me as business there's an -- admittedly key understanding why active business away at its. That's right. So let's get back at these guys from these companies have a lot of you know these companies in terms what -- -- how they do what they will double -- do what -- So does that Casey why did -- -- exist. -- so bad experience verdict in advocacy the bond gadgets in the online travel space you can around eighteen years now. Can well we start here and brown wears a brain child about Microsoft Microsoft Corp. And since that point entry today the -- why we are great. Is then with the goal of revolutionising. How hard through the power of technology. And whether -- technology is has changed through the years. But the media and the need and motivation was in the campaign needs you tried revolutionise the -- is benefiting technology has remained. So as you have a question when he goes. -- that out of Microsoft. Very power they -- -- just three dominant lead growing what's happened the last thing here. -- -- sense are bush years did hot butter stuff then it was a bit of silence another coming back more. He do you see that had been -- you see -- the revolution for the -- as -- all the -- That falls between kind of win new laptop people felt uncomfortable bubble like the -- -- -- -- revolution how closely your wife. Well I think -- why haven't changed forever thank -- Fundamentally when we started it was about bringing transparency in the travel space. Eliminating any -- boycott travel agent and had no idea -- hotel is very depended on the challenges to do. So the concept of where revolutionising taleban witnesses -- different than what it is today. Today you see happening in taking many forums Internet of the life -- Without -- agers and certainly when we started it simply one company and any US basics video duck calm. There -- -- many murderers many acquisitions and young -- have anything in organic growth through the areas including the purchase announced -- triggered by -- And the recent purchase -- -- Internet search space of constantly. You -- organically developing the technology. -- -- acquiring companies in which we see -- making -- dominant player in the travel space. They have high -- -- with technology. That we need to Myron we need to and assay and -- meets Michelle Obama -- He did just recently at a global conference last few weeks -- tell how how how much of this why the DNA of -- company. We just talking business any country matter what you actually like -- week. For filling -- revolutionising. Travel. And -- so which -- differing -- recently we had our and our leadership team -- -- board of directors herein in Asia have the last couple weeks just doing some new means and ends in reviewing the business. -- I would certainly say it's absolutely palpable the energy around technology. And the energy around. We you know as Andy said we've we've just a platform on the back end factor behind to a responsive -- in -- and can then the back in architecture power systems is -- web sites are set out. That well we're seeing now is taking -- the next love our Halloween for Britain where box and how is the infrastructure. Unlike almost twenty teams and things like mobile -- garnering another -- at plan. And the web has then affect many investment here from the council procedures -- -- last night for a customer acquisition in the online space well that's constantly trying to be out. -- is that next. The well and consumers to go after. As you -- its -- Dominate and Lapland and the mobile space. The week in which people our pointedly -- for travel forum briefly conducting commerce is going to be changing videos they think that something that was. Definitely the -- acquisitions. We'll see you mentioned that the new wells of customers a look at the kayak. Really what's the wireless -- client you know the relatively new in the market serves on the ten year results. -- we actually just celebrated her ten year anniversary of the alliance to ten years ago I think got a mild. The first question -- France. -- why for a higher it's pretty simple we. Striving to be the world's most comprehensive travel search engine itself. Three through our -- -- now website enabling users. Into research easily compare our hundreds of outside that once -- the first flight hotel higher package deal. We also offer users choice in where they've opted out. Sell what countries you mentioned bringing transparency. To the top learn. Armed you know 471 variables we want to show users across more wary you know where everyone is pricing out with their booking options are. I'm trying to be as -- as possible. So we -- comprehensive would -- comprehensive. So every single travel supplier old. Key -- everyone and -- -- extracted get as many as we cancer we quietly source I don't know France hundreds of different sites. I'm so we're talking allegedly answers on their -- -- age Barack's time. -- we really do that's one about biggest priorities that higher to make sure that we are source seeing as much content found as many different sources as possible. Cool things down Alan. Given in the -- -- quite worried so tell me that bill -- Google. -- so we were actually -- and Douglas over breakfast and I think -- probably have the easiest way maybe the most disconnected from travel on some -- but. Google's mission is to organise the world's information and make it universally accessible and useful. Anything supplies much due hotels as the -- or something like flu trends persist very much sticking in the global ozone limits -- life. -- -- That kind of. Why -- -- that if it fast and in Italy there are some time -- -- first existing question how do you think that the core of do. Radically innovative spirit that whole kind of. Anything -- that they do a great job with it. Yeah I mean we benefit from having need CL -- the founder of the company. And mrs. damaging his DNA. And Larry Page -- which emea at hair and if you watched speech. And build -- with the idea of -- thinking self. How can -- take its mission and then you know continue to grow one dollar that -- thinks so I think there's a quick -- Britain -- constantly asking. When it comes up with new products and new ideas had in the -- So let me real relive their whole internal. -- -- -- Now what I think it's only do we didn't work -- -- make -- the closure of a pain in the -- in any. -- -- colourful wife you know. And -- of the wise guys go I think you have to go back. To today's as far as -- founded in 2003 was very surprised something in the room we've actually around eleven years movie ages four but. It was three. -- -- who -- -- contract is in the UK and were average citizen that every winter. They once jump on the plane kind of every month and enjoy the ski fields of the outs that they could never find out when was the best time. Today so they actually built the first ever versus guys -- effectively -- -- for the -- the prices from more than LCC's. With an excel -- and it is that frustration I think around. The booking process and finding clarity on prices that. That's west -- -- has been -- from I think if you -- RC EO Dara Flynn sees is one of those three founders. What he wants to see he wants to see dies -- -- -- Buying -- as -- -- -- is to buy a book on Amazon today. I still think we'd all agree on the final whistle quite a long way away from -- to deliver -- -- OK so am throughout the -- we're gonna go through how one. Obviously. Pointed at the poll. -- I have my iPhone thing with my outlook address. If you have a question please email to your pass the questions. So let's flexible mobile. Let's pull wearable treaty were having breakfast when you talk about how -- B is getting about 3% of its bookings are wearable Intel's smaller there. And -- actually the bodies that 3% -- we're seeing. -- -- -- access the Internet 3% coming through where vast edifice of the trend that were -- I'll grant you know if we go back even just two years ago. -- I dominance of he sees seeking about 60% of Internet and in net access was coming through he see about 40% feel normal phone. -- to deal we're seeing -- -- advanced eighteen the majority share 52% is coming for the slab plant scene where rebels about 3%. And actually seeing -- might tea leaves and access -- any -- higher that they tablets 12% versus 10%. -- -- -- -- What's the future would you think is is that people in the book travel on April last. I mean I think were also really exciting space and the proliferation of devices as massively change in the well -- So look for Detroit -- I think just added only six times more devices connected to the emea and people. -- will -- -- living -- you know very different -- and I think the way we consume travel will Basel. So am with its gas get out more about how important is he gets. This is -- -- -- we we call ourselves a mobile first company our key data. And Rohm and will do just the engineers you'll find that they fifth now all got a myriad of devices which the developing our products. For and yeah on mobile traffic it impinges upon the world as is nearly up towards 50%. For all of our traffic -- -- some markets like South Korea where we see. Something like 80% of searches on -- can not done on mobile say. I think for us it's not just about the high end Smartphones in the wearable devices all the time most glamorous stuff. If you look at the -- -- and patterns victim as part of the world you've got to develop for. Huge variety of types of devices sizes and screens but also the two G three G low end Smartphones so we actually have created. Wi-Fi zones in our office that -- to G. And three G said we contests. Are ups and how well they work for people. Who don't have the same speeds the past -- -- and amp. OK so -- say. Model firstly mean that global first exact. Well I -- things I spent a lot of time trying to convince. And the -- back in the boardroom. Is our own people major will potentially never. Experienced guys Ghana through the desktop. Which has a fundamental mind -- for our leadership where we've been grown up through desktop -- everyone. Starts on their stock they may do research on mobile and comes back -- books. Desktop we see that -- a lot of what we're seeing now as people. Start on a mobile device. And -- finish on the mobile device and and that requires a very different -- in terms of how you actually engineered products. So let's look -- to have Casey presumably been really pushing -- that. Assuming your -- and your regular staff. Tell us your experiences specifically. How that is should innovating -- be seen as a -- Company the very beginning of the PC and -- pavilion model -- that of infringing years. For your customers how you find that their transition. Well it's -- big tradition into that battle. They -- and keep in mind you know that the liberation -- with your way. Fact the street in -- people accessing the Internet. And then connecting -- -- which which may vary slightly through time but certainly it's -- -- break the key is building an actor. There is something that can go -- rights -- rights -- -- society -- platform. You need something that each consumer can easily navigate and -- want to buy -- get any intuitive way. Any during -- consistent and -- invites you point two inhibiting convergence era assets. He had these appliances and -- happen again that's gonna end in mind and we don't know the we don't know house market will get we don't know -- that intersect -- like. So having something that's built on the back -- in the system that's incredibly adaptable and responsive is going to be absolutely credit -- pattern -- fact companies. Within the sea and feeling breakdowns add the M. Endorsed by that you might see if you do hotel sector -- be -- keep your -- sector aren't the -- Actually happen -- actually make an airplane -- -- up and down. And that's frank Mir Ali Joe acts each year and into that innovation has really been getting right acquisition we did and seven years -- you know the -- Eager infinite power our apps and it among white -- deriding the innovation within our travel -- they're. For the Expedia brand in mobile. Hotels that can't around it taking it slightly differently. Area function are very comprehensive happening increase announcing -- -- can. Successful units mining I think it's really in. Tap one of its -- -- fact -- in the iTunes store hotels that partner. So a few different ways you interact concealment for -- PC Spain's. Whatever -- and that consumer is going to be key holding onto that remains client -- -- -- -- -- -- If you -- a pact is obviously you've worked down the model desktop PC strategy at do you see various us throughout Asia anything -- you think you'll. Bring some of this things and US that would still whirlpool. -- going to be like. -- so that's an interesting question sell act now. He over the years have been included a standard innovation with more more plant we were one of the first. Online travel companies who have a more more -- than commit serious resources. To that now. We have tens of -- of downloads across the world were featured -- -- Demand will play on the time. We are trying to make -- when you hopefully have been somewhat successful at making it you know -- travellers got to affluent. The company -- are raised or whether that -- searching for a fire or finding in the TARP that night looking for higher. I'm looking Q3. Tracking flights of -- track our active management products sold not enter and what average hourly news that's -- -- we'll provide for our users. In terms of is Pacific and more -- that we face as you know we're pretty new in they've -- region. -- so we started liking at present we have say probably Q4 of last year. I'm twelve well line on money markets in Asia right now I'm we've seen in terms of more war versus what say. Growth armed. In this market were actually still seen Wednesday. Query is to be more and -- -- queries. Necessarily mean much in the White House blends of reform after a few more -- and -- -- in the country when -- start seeing more -- what we take website. I'm always seen that in some of our larger markets in Asia and we see then some other developing markets as well I can result for example. I'm more more growth has just exploded over the last six months and even right -- my immediate Europe. So I think is really market dependent I'm -- even within Asia Pacific and Australia market Australian market looks very very different -- -- -- -- one. So we're seeing different fans across the board that armed. We yard out users here are very heavy even more for users demand. -- we continue to monitor that very very closely but we are seeing still -- -- fifty cent website traffic in this market. Certainly -- the pay down your. Execution. You see you kind of phase one the justice although that investment in things like yeah -- gonna face too late Japan at local level. -- -- -- -- -- -- -- Gap more user acquisition of the -- Q1 and I'm sure everyone on this panel can taxed -- in terms of what the real buyers down in away what makes -- farm since. You know more where users can vote for the different. -- then website users deal. I'm interested won't -- down in the states -- we've had strong partnerships -- with our stores in the states you know we. We hope that our products its LaSalle sold because such a great now. Time your players in markets will want to be showcasing our path. In terms of it is now looking to partner with carriers and you know -- -- our feelings are taken into future assessments of where NASDAQ -- in the road map of the. The planned. I think our first our towers to be very very user centric so to really figure out whether the user -- a pack is. Is looking for a -- need is different from what a user in Europe where the US once. And until we figure that out I don't wanna be going out there and now on -- carriers -- pushing now -- mark. Previous relevant to users -- -- that -- but that's definitely in the roadmap over say the next six top -- -- -- -- Google so -- the -- people out there who. I don't get -- -- -- that billionaire wanna make your -- even better actor Matthew kind of that. -- Gmail via a where Google what's the best strategy for someone in -- room was like. Truly free mobile. What's your advice then -- hotelier railway supplier AO Kevin yeah. -- heavily heavyweights like they haven't done their responsibility recognition of Hanover Germany Italy -- just an experiment. Ask you could become approvals you know every. -- that the. -- Year exactly. So -- base dream then it's OK about -- at a rate not so. And you know I think you its step one you need to be present done. Every speaker at this panels gonna -- that. I honestly don't have the specifics that would be the best personal -- over what -- your first step should be. But I think having a presence really important. -- want to users to star -- the one responsibly -- as as any mention. And I think that's been present is going to be great places. And like we've always -- to well into -- important to understand user and -- use the first one of Google's ten principals but principles. Were found in the month end things we -- would be true. Now want them as are we about bringing the user first -- last -- That encourage you in new businesses to do the same but the user first and -- with the best user is. And then create your private -- model for best if used. And -- -- calculation when -- that the US -- answer questions don't give -- so. -- -- -- -- -- -- There are hoteliers and fall even airlines in the -- Please please build a mobile out. Poor. I -- your mobile. Where the experience is not just about having enough but from a I'm sure I can -- -- off into a mess -- perspective. That's the bit -- from our. Our mobile live for mobile -- website on the stock. You know we're still dependent on our partners mobile experience to a certain extent so. Those partners to work with us and you know we have over 450 airlines and huge number of hotels now joining its price down. We still lose a lot of people when they move onto a partner's -- or if if if often they have now. Amaze are -- -- the holiday. As a cover for bakeries please invest. And is -- -- and CE Denham there was so the EC now five and mention. And I think it's it's important is as you look businesses -- -- nightclub Arctic -- typically if you -- hotel and air during airline. Your diet does not know -- -- rate debt incurred for the most fact. But when you have is -- and technology leaders announce these vacancies and the earnings -- at. N spoke earlier about -- -- Expedia brands have moved -- needs yen now bio. Sold in Q. Unlike the exchange because polite exchanges tech technology need to have a partner for the right. So I think that is something that it's important to keep the back your mind is just -- experts have a partner in the space -- help you navigate through that. Maybe silly to the PowerPoint there was 3-D -- to get his point about flight tracker. This this -- of ultimately pushing new conversation for the consumer that's not just about giving people -- -- It's actually about getting people to engaging. Into use your -- and then eventually -- 300. Yeah -- absolutely just there could now on at this as a question from George global research shows -- installation rate of model S -- brands has roughly 25%. Regular users of -- less than 50% of those -- -- yeah. What could and should brains do to make more sticky and more available for end customers. Really great western. Mining -- -- So and that's absolutely bets riding in knowing -- -- doing downloads your active -- indeed -- users incredible -- Now what would argue it's -- -- and you bring an analyst at evening consumer segment but let me give you examples of silly things that really seemed unlikely to be. How many you are familiar with the concept of flight tracker or extracts. Here is really set up by help us -- three people on the OK. So -- -- doubts there's a leverage apple like it's giving you dynamically win unique it information into relevant and realty right. You either -- well let's and -- air forces directly T. With -- actively engaged act as if it famine which. Ticket was -- in which. I know yield you know where you mark I know you -- an -- point push this information T. That is something we expect this -- -- the an online at latency apps specific Expedia now. You'll actually getting worse notification. Associate remind you might -- nothing flowers at three outlines. I'll say he might -- even exchange Nazi backed CD sets. It will push you eat your babies newly Anderson is doing -- -- you -- -- -- I -- here originally. Aren't getting -- at a price competition is reappointed CEO. Well now you can do that will happen. You can watch if you don't have absolute just 88 channels. Model is no way I think it -- like. System add -- that point I think when it comes to earth perhaps everyone in the -- reserve of Linden. And that I think there an amazing example of a company's move from being somewhat functional most people. Move jobs maybe once every five years and in theory you should really -- to -- in most of these ideas -- the for a new job. But actually most people in the room probably don't -- late in every day at the -- great content strategy in the continually driving either through. You do somewhat move jobs move job for someone got a new connexion was quite a voyeuristic was -- top ten things -- need to know about. Through a travel panel in Singapore something around online -- -- -- that forward this year. Hardly -- here but I think that's that's the key is moving away from just being functional. See no -- indirect which generate you have and being in the Euro in -- window. And -- is. Something that tells the whole world about your -- come. Windows something you look power use the for example FaceBook about check clearly defined track the window. Debt helps you look at the -- -- -- -- -- your window into the world to do. I'll ask you ten years from now -- gonna put the future look. OK five years opinion whatever while you well what we always your dream what that's gonna could become. Whilst I think that's what I said -- the start which has making trouble buying travel removing all of the the hassle factor of the tedium that every single well -- customer first -- we we've -- -- -- -- -- frustrations -- -- it's about building -- experience for a customer. That is making the booking in the research and father trouble symbol enjoyed -- that they can then usually they can enjoy. For January we've we've just written a paper on the future of trouble. Looking at the -- things by semantic search wearable devices. Artificial intelligence where does that work like goes right when you think about hotels perspective. The use of artificial intelligence so your customer can actually sit there. With a artificial intelligence. Battle -- vocals were -- -- -- so -- -- what I mean they can experience your hotel. Before they arrive now for us guys kind of perspective. All of these things are in the mix like on the final -- right now the wonderful example a roadmap -- -- -- in five months -- is enough for us right now. -- so -- aspect futurist questions balance. -- global -- -- -- send you for the common to software companies do you travel. You do mean moon shot pro -- Internet for the world balloon. Would you think -- the other night I think. Yeah mean I think -- -- know it would buy ten years is is itself are. About. You know takes a back and want to think about what the future trouble like the future any. Unlike -- tendered in the lineup of digital natives resisted -- migrants. Potentially -- as you know what additionally the someone who's grown up the -- it's someone who is into highlight is -- up front interactions. So either way -- -- and nephew interactive is bound to raise twelve years old -- -- with the experience you know very different from. You know put a finer point -- I don't care that -- I grew up loving cup so -- move dosing of a three years ago. And I have really no appreciation for the foreseeable they'll never in this MM because I think they might like -- -- right now you know. Again merger might tell us what sensing. And I think if you wanna you know what's gonna happen with. Travel. Or any bright future but with digital need to -- our people were behaving who have grown up with technology. Enabling it is up one point be very different and that's going to be divesting what's gonna happen in tenuous. -- power with pivot now into fragmented and fragmented space. OK so will -- -- you know here's a fantastic job our flights and hotel in -- Minnesota's -- filled in the gap. -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- So let's talk about intellectual there's an activity is. I suspect not really. So crazy -- and look at this base. Like you know stop your -- hotel. Yes it is interesting specifically. So yes leader Reid do you have. -- -- -- -- -- -- -- -- -- -- -- -- -- -- Our destination services a -- by Expedia local expert is a free and it's -- one on NYD. And in some of their heavy resort destinations and particularly in North America. You know it's easy huge -- adding that -- science -- science Eads reacted even and even a couple years ago. And and N is quite allowance in is nine -- then. VoIP and it needed for a structured within the amendment is a distraction away. They have Al -- you have pending easy interception and I animation event happening of that well. Philby is president of that's season -- oh well I think we're doing then we're doing fine in any particular vehicle more focused -- -- But -- consistently sorrow of our. Our ultimate able to help everyone everywhere -- -- and share everything into how hard and that will let you simply everything into our mark. That we had -- a timing issue that -- get -- space. -- -- -- -- You know difficult battered outlet as this -- what. And a weak demand we've experimented a lot of that -- activities -- words -- -- them while making a few years ago we were our armed. Basically -- allowing users to jump off outside into another side that would allow them into your book for you read about various activities into worse. I think it's -- that we really haven't cracked yeah I'm -- -- served dinner is really not structured so to try to presented -- organised. Fashion has been a challenge -- to figure out what planet is relevant arm for the user. Is as is also a challenge -- -- who were big flights where rates of the final from -- -- eight of forking out. You know bust Torrence the. Some winery in Tuscany -- there's actually a lot of steps in between. -- while refining capacity user every single -- as a wide gap sell our -- challenges that we sort of figure out. Within the to a collectively face what's relevant and useful for our users and we're continuing to Taft. We have various. Versions of our higher stay out every single every day and the pushing powered everyday so -- exactly something we keep playing around with -- do you think it's something that we -- -- figure -- Glenallen Google yet have a bigger Canada's -- -- a bunch of Google products then tried enabled businesses to. Does nothing to Geneva. -- mean -- to my earlier point around our white Lotus. It's -- -- behind our clients are which has organising the world's information and I think that -- everything I think it's -- Germany will -- -- as well. Unless everyone is structured toward one company. We have he's around -- to -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Move down that funnel. But I I don't is just about rentals and activities. Handles matters as a massive -- -- in China we're looking at that very closely that -- a whole host of other staff of the big challenges out there particularly in as part of -- -- trains. Way ahead of tools and activities in terms of earth you know at the moment the opportunity. Again we're looking at mobilising -- feature sets. We have you know we've just move really from flights through a comprehensive position across the whole troubles place. I don't think you can look at trouble without looking at trains particularly the for the world. OK it would appear headed to distribution. -- -- hotelier. -- L I -- -- industry right now thinking. With the usual suspects then view that political years ago. Our how hard decisions how do you guys -- so we have kind of. Can come forward have lost its -- I think it didn't like who came the -- injured in -- in the 38 came in their -- sit back. -- limits that the rumoured to have this bad with poor you -- kind of the younger capital your faith in the kind of a traditional media. -- -- -- -- -- -- -- -- -- -- -- What -- -- -- what do you think having these cuts in the next few Siemens competition in its partners what Heidi goes you. -- -- -- I think are all together. -- At no city in the Gaza signed a split the deal while together trying to help people book the great hotel spread and operate flights. N one magazine and once different approaches but I think while investing got. -- not mention I have helping people continue move marked -- travel online travel -- online love. The online travel space can just continue to grow by virtue of a huge amount of travel still been done offline. I don't think it's necessarily that we're in this table but our. We are very much an up the traditional method. And the traditional cooking methods love life and I think. That -- in July minus very much. For us and you know poverty is the company's -- -- And I don't expect Citi went so it's an -- -- consistent with risk and that was just mentioned the first thing is with inherently make -- difference -- N whether you're our traditional -- and -- to lead in polls also. And bloody tradition now. Man maturing possibly better plan. You know the -- got -- -- -- -- -- consumers people that consumer first that travel first that -- first. -- -- -- -- in their highest then you're going to be navigating down in inherently good. And NN maybe I'll that's whether our business finals complimentary of conflicting times and that is the end -- of the that's the first thing I'd say. The second thing I'd say is as a one trillion dollar industry. And a trillion dollar industry competition is what people -- -- back again competition makes you better. -- I never shy away from whining to have competitive areas in their space any knowledge being that there are only taking of the very real thing for the markets recently let them. And the -- thing is there aren't any value propositions. An unusually that we actually said -- whether your -- in a major player like a regular. Whether your search engine -- and online travel agency each bring different values depending on here coming from consumer mindset that France needs for distribution mindset. And so it's really just a valley in the present kind of leaves and how to best navigate. In Las Vegas France Deval going fish into effective way from every sector strategy -- Very different at times conflicting sector may buy it's it's a big open marketplace -- Because the new world that. Senior. Will work together we -- a group -- that's -- -- -- her -- I think from a massive -- perspective if we're sitting here may be. Eighteen months ago or two years ago the question would have been kind of what is the role of -- search within distribution. I think that's fundamentally change everyone in the room -- -- search as a very much established for more. Distribution. But what we offer our partners that there's different from a supply perspective. The whole point -- asserted that you can still own the customer -- with the cost -- are on the web site. And -- -- -- that customer data you can then. You know enrollment on loyalty points programmes they can be and concern direct -- so that's. That's a -- huge advantage I think we still we have. But you know met met a surges is set to -- continue to do to grow but who we work very closely with excluded a great partner as we work closely with -- team. Don't work with Devin for so we're getting along -- testified. Gas monopoly now lives in the table recessions. We plane -- three we found. Guidance on Angola everyone else is saying innocent especially there's -- point about moving. Covers offline to online. Arm the Annie. -- last seen competition in each market because it means that one I have an initial halved with some provider let's say in Japan. They know -- murder early years because he's been there and eighteen months now. Telling than educating them about -- I think. Hitting the ball here is to grow -- of online high. An -- we do that you know oil markets as -- more -- -- written analyses especially in Asia harmful worldwide. You know in my world. Israeli daily -- the good working relationship -- But -- as long as we grow the tied together pound you know it's it's good to see healthy competition out there and it forces us to believe that our. Faster and more comprehensive -- CL a friendly. Real enemies on fire and that. Absolutely no question you said chi X Europe tenure. Do you -- -- very. But why suddenly did talking about you like it expedient -- -- pipeline rather that are very divided someone by enters what matters new. Interest and negative one way I think -- -- that -- from -- -- factor in fact demand. I think -- -- for a couple reasons our first -- do you think I've -- Mega search model or arm has been through learning. Tried in feel they have worked straight arm our partners continue to work with us because we continue to drive. Qualified high converting traffic to their sites we continue they're able to own that consumer. -- you know the we're not trying to complete with -- in that particular. -- there was a tipping point for. He -- needed traffic increase in the last three years -- -- for -- seventh I think it is -- -- the -- of aid in. I mean I would -- the US -- on our model house hasn't worked farm fifteen. By the second or third year that -- was an operation it was clear that we were onto something that was going to work. Land relative to pinpoint for higher they became. -- five years after we first launched. So we know that the model worked in the allowance and man -- we knew looking -- past. Other partner countries especially Europe while -- -- respect -- a standard. It was a -- that worked in Europe as plant and so that's and we also decided to expand their. I would say the tipping point may lead. Becomes more against. Our year stint in Asia meaning that. That the moral standard can't -- but I would say in the US and in Europe and some if you disagree -- that. It's it's gonna it's been -- proven model that that has worked land I'm obviously movement like privatised bank of. We're just seeing. -- out for a fee of investment in -- ma -- -- Kind of visit gives it additional Genesee. Back. I do think -- mile or so in terms of -- question of why the pipeline group -- would adjust higher -- I think we. Our. Van Nuys plant sector around out there -- currently have not hauling out and Nissan. -- Madison just curious today. It makes sense for about 81 mistrust now on. We are trying to find -- the holding company France so we operate completely separately and independently from what -- can't have not got out of are the other Priceline. Group companies -- in terms of my idea come out and nothing has changed. Actually -- on. Parts of so that's likely to see so we value you know what the -- up harm partnership just as much as we now you basically -- manager we haven't. -- cars we -- kind of yet comprehensive. -- search site. -- you know leaders in our best interests to keep. Good strong partnerships with hardware partners have to have that Chinese one place especially with with the other groups of companies -- Just a quick point on to a tipping point and why -- search -- -- kind of hot and is -- and investments of very. I think from a from a customer perspective tipping point was the internationalisation. -- We now live in I think over forty markets. Thirty different languages we are home market Scotland. Which has not massive market so we have to internationalise. Very quickly unlike other big -- that company's -- higher -- the US. -- in China that's a pretty big market -- us we have to move may have to move faster that's not DNA of working with different languages different cultures. And different technologies that exist but we are. I'm the only company setting up -- efforts that private or can talk about numbers alone although we are very profitable. Our revenue doubled last year and so did argue that are put your wages are not unfortunately -- -- -- -- Which is a real -- But the other thing I want what I want to make around the -- investments from us guys -- perspective. In terms of actual money in this guy's -- saw last valuation was 800 million US dollars. The terms of money into vice governor. We had 2.5 million pounds money in. -- gonna stay under the nothing compared that's BNP. They're -- valuation of the latest one -- is ten billion US state of 774. Million US dollars invested in -- I think that gives -- idea of -- commercial. Sharpness and now world. We're trying to blame everyone knows more severely injured incredibly logical ration no -- no -- This for the doesn't buy these guys who -- view I would give a better value. I think M Minnesota's Justin every week US seen coming and Steve Preston sell. -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- There's the major search mail and Steve is one that's good for the consumer consumers seem -- like. They seem to be responding to it -- seems to be engaging in it there's an industry that means for -- that area hotel where he announced today -- figured out. NE need to engage in that landscaping -- and -- -- handling finance people freon. And versus the yen as that the -- address said we -- within member of -- and -- partners will leave their mark. Even as the finance their smart alliance. Ends now we have purchased -- out of that as a part of the speaking family of brands now. Similar to Adobe's financial -- and the press angrier -- completely independent. And exceeding previously aren't driven by so as an example in answering completely independent its now -- leverage speed to purchase -- Tell -- understand that -- give her ten to make sure that we're navigating and the best way financier. But also helping to an avid DNN you know bring back to -- hotel partners the application we have you just an essien had to navigate this landscape with UN four -- they have -- power. Well I'll eat anything our bridges then into via an interest in Japan now. And has set certainly doubt that there are certain things in mind your argument that they assume. Then we'll learn over time and I think there -- hotel partners as wells announces learn over time the more than. So Alan which has an -- -- Asia. Which Minnesota company -- -- media industry. Yet yes. Yet had no comment on that we sold just more generally and in I think wipes -- -- -- -- and -- probably reason message -- in an -- mentioned before is just helping users get very intense action I mean what while trying to do is. And help users get of their -- hotel booking quicker get into the -- in the rate hotel -- time. So yes the question at your breakfast day -- -- currently sitting in the middle. Net -- about how the -- keywords -- -- you guys be doing -- from the Nader said guys doing that than they needed. He -- the middle -- and -- still you could pretty much filler cap one way or the other this black community tension within Google S to which business ready to follow. To view of -- -- to the even deeper -- power. So I mentioned earlier and I'll go back to that that one of ten things we notably true global issue but the use of -- and -- else will file a so that's a tenant that we hold to and I think that's. The -- will continue to work everyone get used to the -- products. And so I think there's less inherent conflict in working toward that core. And then think you know with specific players in the industry ultimately I think we're just good and well just trying to get racked -- rates. Get a little bit into China but the question from -- Then at an interesting. For people will -- penetrate the search market in China in overcome the current difficult for the government. And so what was the first thing you know at the minute your. -- player I would also looked -- so -- be. I had done and what we've -- plan. -- -- -- -- -- the credit China so Tracy. Is this land of China really all it's cracked -- Let's have been their along tell the long visit working at work here you would -- market you have Expedia branded their what's gonna happen now. I think I think everyone is feeling in his we're teenager knows that China's -- when the most disruptive alliance keeps that there -- that there are out -- and with a third -- with incurred to -- intake really with emerging member at -- does. Darling in dominant players in the sector in in a few different areas. There -- -- you take an incredibly destructive environmental and they knew the theory down -- Near monopoly -- in Birmingham plane doesn't necessarily treat their animus. On the genius like Ecstasy to ground. Now -- assumes any of those -- and changes and the reality is now a lot of people -- mine is rallying its it's going in incredibly. Moving to -- -- mindset there and that's when you're going to -- -- time we have -- there for a while with our -- -- -- young we have a majority shareholding in -- You honestly yeah in theory different position in our -- and China plan as C shipments and yeah those. That is the and I ask -- -- up. We securely online and bring fingerprint -- only -- We -- after bank -- statement when you're doing is going after a segment for the very smart reasonably smart today. But it is absolutely alliance -- the future and I think that's the best way to play China -- a long term that he continued inflationary candidly continue to play. -- -- -- -- -- now just the reality I think even some in the business miles. It lately one PS sustainable. -- -- -- -- online we are seen ten out hours following were the most in arresting and hard about -- Phase going on right now globally if you attack that vastly valuations and so how they live interview. -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Definitely in in arresting -- -- necessarily fully larger comments saying. So our practice that's going either pretty big political issue now there. Very high getting attacked -- market. I -- question. Cunard served as a pretty dominant position far. -- guy has a fairly significant advantage in terms of our international. Flight data cunard cannot compete with that they have unbelievable. -- served on the domestic but 90% of their business is. China domestic trouble so we're very focused on tapping into leave the China outbound opportunity we have -- small office in Beijing we've been there for a couple of years. We have a separate Chinese brown called attention. And I think our overarching strategy for China -- and -- -- Chinese idiom is just -- crossing the river by feeling the stones. We're not planning to Russian and I think you know. With the economy pragmatic. And humble about the China market first and foremost so we're really investing in understanding the Chinese consumer. What is different what they want. And that means local rising. That also. Being in China pounding the pavement means you can build the right partnerships with the airlines with the hotels will also with the key players within the Internet ecosystem. -- do have a very common relationship with. You know -- from majority owner but there's also the other big search engines like 236 do now working with as well. So do and we're very much of the start of what we hope will be -- long -- successful journey that is crossing the river by filling the stones. Fogarty at electricity daily else having lightweight cofounder tuner that two week ago. Ask them yea -- -- that would be doing next elicit a building. This ecosystem around hotels and -- The bill review management software for hotel. The building common -- others that -- this view that -- together side. -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Is -- -- phase one he'd never -- to we use around -- thousand you're more put together a dominant US I think is you know as pretty -- in Europe last privately the year. Sold a unit should act as a thinking you we have we dominate China we now going to do the -- him with the supply. My question is. Insuring China -- -- but also a unique any different and better then your business. Question on -- And that's at a -- position. -- For the foreseeable future I mean it was doesn't in my -- I very much in phase one and in China especially -- have a -- -- girl. First Dennis -- her. Faster -- altogether right propriety in now my dead parliament in two goals while enter stage through to far. The value proposition that we offer and hope we take full line that we've seen in the US and Europe markets and -- -- those to China aren't. But Yasser -- the exchange for the Chinese user. In terms of becoming more in their ideas that with alitalia's let's say very -- something like revenue. Management. Don't know if I see that something that we would do that -- nine and -- -- will -- snarl -- our armed. So all in the near term I don't think that's something that filed with tackle all. Part of that things move incredibly -- plan can. You asked about five years Philly does seem like an eternity plant known as the -- -- in the future about. At least from where I sit now Obama looking out their fifth twelve months -- -- -- -- price. Facility a bit less field at the moment the discussion of the around a competitive. Entry into China. You look at -- -- should do with China. -- competing within that huddling with. Building something funny or incredible amazing. Without ever come across surrender would you partner with us on the -- spent. Boy you just always compete. Really nothing is impossible I think in the -- -- -- we've already standards you know we have some business really is where. I had to go back to the kayak team in the US and say. -- the -- Yang who use free Europe and nuance don't always apply in this market so we're gonna have to build a more flexible one. Things -- stored away now we use of non working in the markets -- In and -- we now want to say -- are impassable because I think in order to. Survive and thrive in this might do it is necessary firstly -- -- First to doesn't take into account when local conditions our parts so I'll add and not gonna say now would never do that because we. We just on our office. Let me just application -- more aren't specifically in China there's a question from George. How -- went live rich -- counter large social network companies like we chat line in the region whose controlling them. Let's have perhaps a question within the message -- -- have just been in the next. The next panel that you guys -- you working with the -- -- you know we've all -- we've seen. Yeah absolutely can't you can't be in China and not be waived a fine. We're we're implementing -- strategy right now but. I think importantly about social media. In the in this part of the world -- it's that -- -- has three million FaceBook fans. Which is I believe you know probably Norman asked the panel does -- a we commercialise that -- -- move from engagement. Yeah I think in China. Actually they are in terms of social media usage is the most commercial usage. And you can see you can via -- all sorts of deals on the way broad channel was the -- -- us. Problems I have with social media elsewhere -- best practice of the a couple of we saw a couple of -- took place today in in China it's just isn't deal go go go. And but there's another component of social media which has about customer service. Think that's a huge shift of the travel industry really needs to set up and start thinking about particularly. In China where we see so many people coming. Through our social media channels about the experiences that having good -- and from a customer perspective that creates an interesting challenge. From mark you know we've we're very lean company do we don't -- so they have huge customer service. OK. The last topic is to do with new business. So the PX one more way if -- B space it's not -- -- months. Think. Sold -- double ABB's building at peak year. Combination play on the way vacation rental. Thought condit's part and whether that's gonna work with its competitive being the of that without your thoughts on just that whole. Because you're you're the one -- you there. -- -- -- -- -- Forgetting did little known fact if yeah I'll just -- -- -- -- a -- -- silk. I'm glad you're here in its Barcelona with the -- -- we can't grow their self. You mean the rate now I think in terms of fear of -- properties of the fifth biggest Italian the world I think. There's estimates that by the end of the year got bigger -- biggest hotel in the world around so -- was the year of acid chains face -- back again to the idea of no digital -- in digital might trade. There are tremendous amount of people that I know MN one what people who were put tells that really mean you know -- -- -- fascinating platform. And as you know industry for the -- but it is a huge. Put it like we've done about what. And I think what competition and -- industry user I think. That's that's really really so. -- And not on the -- -- and. -- movie which will I think we have been talked about the death I think theatre near. And the destructive nature of -- -- not just gonna be done and that's placements -- across the travel industry I was in Japan and South Korea. The week before last first offer we've come -- -- were so many startups sort of focused on the talk -- wide sector and peer to peer. -- rises the worst thing in the world as the turn up. Someone like Beijing for instance a -- for five years and as a tool guides you think -- -- Founder lay doesn't do much in as a such -- -- -- there's a whole host of really interesting companies that moving into that place that provides people with the opportunity to. Talk via satellite today die before they -- actually like them. I think across the whole travel industry just gonna see more more of these types of business models coming into play. Final question guidance as a survive -- -- -- minutes of this. -- in major. In the next five years and the exact same panel -- much younger. Merrill works. And now what do you think -- the -- -- topics we discussed. This year we've talked about -- mid term China. PP. In the widely company what do you think -- -- half the topics we discussed in. -- -- Anyone can start. We've got about eight years. -- -- Here in preparation on this question here services definitely think I'll personally making this thing. -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- our C upturn even in very fair -- Do you find out even TS its business travel -- landscape is -- -- -- Our time on our particular technology intersection of every one. -- -- -- -- -- -- -- -- -- -- -- -- any word testing and -- things are gonna easily interesting as we move Bahrain and our -- where Apple's plan will ease Cummins. Suites during their plan. Fourth we're levels and turns of the devices that -- sell the way in which people search through that as opposed to to take being our -- being. Taking their behaviour Hurd voice activated search -- -- more interesting. And NN I think we'll probably tap about. And -- has it will be something new then and we don't know attorneys -- itself. And maybe maybe that's too far -- -- I would say there's value there -- three I would have -- -- -- -- worlds of voice and just the general fragmentation. Gallon again reiterate that we didn't have -- clients. So I think some type model today but I think will probably cut about five years now lives as a -- a couple of others accessibility -- of different ways. That will be accessing travel and our indicators that have. Have for us. How consumers will welcome -- that may very well while. I think will probably offer type of their announcement surprised with entitlement in some ways around which finding creation duration. Around display and around video so I think if you look at. Try -- what are the travel related client revenue to bring out your and -- -- -- -- -- for more than 200 years -- to get us to the next panel. So it's. It's a long time has won a client note there's a lot of -- -- -- and gain a rate content from the users is is incredibly important. And I think that's been we retired but -- And I think around anticipation inaction. -- understand what users want and being able to put the -- things and -- of them. Will be incredibly important as well as an obvious things relevant out of yards. And enemies like -- lines -- what we -- -- today but I think that will mean incredibly relevant going forward so. Again around accessibility. Which kind of duration -- insufficient action. At roughly at go away and -- -- -- just -- part of -- so now. I think in five years. Conversation we're having a -- more than -- -- forum will mark the -- I think hopefully over five years from now we'll have figured out how to seamlessly. Migrate users from website and -- waterworld more than whatever the -- happens -- the and to make that experience are constantly continuous. Consistent. For users. Arm. I do think that in five years who have. Figured out but much of that area in providing. A seamless travel experience for users sell what you know we've seen that happen in that -- together you know. Whatever booking options pricing options maybe will continue to see that the past are different facets of online drama. I'm thinking for five years from now. Hopefully it'll be much much easier for usery to butterfly but volatile have the plug in clients' hands. All and one way if farm to figure out which hotel versatile where where's the first wife -- -- is the cheapest amid trouble. Sort of looking at eight different website they think you know even with. Players like Google are -- -- kayak users now the -- Online how are still looking more troubles worse those two fulfilled the needs of their various pointed out what. -- in five years from now -- be massive issue thoughtful. Armed and what and was the kind of consolidation -- so you know more. Partnerships between players see a -- to make that you better experience for the use of that area seamless easy or. I have just. Was just last coverage for every -- -- several times that and -- because something so do -- -- written down. Semantic search on the personalisation trouble adjusting to reverse has kind of been mentioned already say. Forgive me for that -- but this idea of one -- trouble. I think some of oil will be talking about in five years' time. And the other thing hasn't been mentioned today was because really really important for everyone in the review thinking about as a consumer arise Asian business travel. Something as a group we haven't talked about the -- email probably every week now. From CEO -- payback general manager saying when is guy's gonna gonna have its own version of the travel management solution because all of my team already using new. Paul -- drive me nuts so I think that's a really big trend and and then lastly I think will be talking about hopefully. And is the matter valuations that were flying around the 24 -- and and how low they actually work. We'll hear all the rooms then that brings. -- better. To spend up. But he -- to give around the volatility. -- here Eddie Davis Cup preparation and testing.

Related Videos: