Flights down, experiences up – curious why?

Hi there,

This week we've seen a big increase in ticket sales for the FutureTravel Summit. Our team is hard at work preparing for an amazing event on November 28th, and we can’t wait to see you there. :)

In the meantime, I gathered some exciting industry updates that I think you'll find interesting. Toyota is expanding its investment in electric air taxis, and GetYourGuide’s latest report shows a fantastic rise in travel experiences. Plus, Eurostar is partnering with SkyTeam to make it easier to combine air and rail travel. On the tech side, Hotelverse is innovating with their digital twin technology, and RentalReady just launched a new AI tool to help property managers.

So, here are this week’s highlights on innovation, trends, and startups.

Flights Down, Experiences Up. Launched earlier this week, GetYourGuide’s Fall 2024 Travel Experience Trend Tracker shows a noticeable dip in travel spending post-COVID, with consumers being more cautious about flights and hotels. But here’s the good news: experiences are still booming. Travel experiences, especially through OTAs, have shot up by 188% since 2019. Solo travel (particularly among women) and travel companions are playing a big role in shaping booking choices. Great report, packed with insights. Definitely worth a look!

Toyota’s big bet. Toyota is upping its stake in Joby Aviation with a fresh $500 million investment, pushing forward the development of electric air taxis. The funding will speed up Joby’s plans to certify and mass-produce its electric aircraft, with Toyota actively involved in the manufacturing side. After 7 years of working together, both companies share a big vision for air mobility and sustainable travel. This investment fits right in with Toyota's ambitious goal to lead the future of mobility. Plus, Joby's latest aircraft is moving quickly through the certification stages, bringing that shared dream even closer to reality.

Peek before you book. Hotelverse, a startup specializing in digital twins for hotel room selection, has raised €5 million in a Series A funding round led by GED Conexo Ventures. The new investment will allow the company to scale its technology and accelerate international expansion. Hotelverse, which has clients like Hyatt, Radisson, and Palladium, plans to grow its revenue from €2 million to €3.5 million in the next two years, with a Series B round planned for 2026. Their platform boosts direct bookings by over 30%, offering hotels new revenue streams by charging for room selection.

Linking flight to rail travel. Eurostar is teaming up with SkyTeam, to make it easier than ever to combine air and rail travel in the same booking. As SkyTeam’s first non-airline partner, Eurostar will offer integrated journeys across the UK, France, Belgium, the Netherlands, and Germany. The focus is on providing travelers with a more sustainable way to connect between flights and trains, with the service launching in early 2025 - building on the fact that 13% of long-haul passengers already hop on Eurostar from SkyTeam hubs.

Easy travel connections. Turkey-based travel and hospitality tech platform HotelRunner has acquired Bookingate, a B2B travel marketplace. With this acquisition, HotelRunner is boosting its ability to connect travel agencies, hotels, and suppliers, making it easier to manage hotel contracts, offer dynamic travel packages, and streamline connectivity. HotelRunner is on its path to build a more connected travel ecosystem and expand its global reach.

New AI sidekick for rentals. RentalReady just introduced Maia, the first fully autonomous AI agent for short-term rentals. Their platform focuses on making things easier for property managers, and now with Maia, guest communications are taken care of without anyone having to step in. Maia’s already handling 80% of conversations across 3,000+ properties in Europe and the Middle East, and is expected to bring in €1 million for GuestReady by 2025. Using RentalReady’s deep data, Maia is the latest tool aimed at making property management easier and guest experiences smoother.

Ground travel just leveled up. Berlin-based Distribusion, a B2B marketplace for ground transportation, has raised $80 million in a Series C round. The funding will support Distribusion’s global expansion and enhance its technology to offer advanced retail capabilities for over 2,000 transporters and retailers. The company’s API integrates bus, train, ferry, and public transportation inventories across 70 markets, providing a seamless ground travel experience to millions of travelers worldwide.

I’m loving this visualization from WiT, presenting a brief history of online travel, 1999-2024. Created by Wego’s Nedyalko Terziev, it covers everything from the early dot-com days to Expedia’s 2001 Hotels.com acquisition, Priceline’s Booking.com buy, the COVID crash, and the post-pandemic rebound. Super nice.

See you next week,
Ana

Thank you for reading until the end.

The content of this newsletter is curated and published by Ana Metz, an innovation expert, passionate about technology and excited about the future of travel.

Interested in the most innovative travel startups right now? Explore our Premium Report: “Top 100 Travel Startups” to find relevant insights for you.

Looking for a space to promote your business or service for more than 24k subscribers? Let’s talk.