ttc16: gadi bashvitz - travel booking. personalized
TRANSCRIPT
1 © Copyright 2014 OLSET. All rights reserved.
Travel Booking; Personalized
GADI BASHVITZ
CO-FOUNDER & CEO
WWW.OLSET.COM
@OLSETINC
2 © Copyright 2014 OLSET. All rights reserved.
Personalization is everywhere
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4 © Copyright 2014 OLSET. All rights reserved.
The impact of personalization in Retail
0%
5%
10%
15%
20%
25%
30%
35%
Amazon
Standardconversion rate
Personalrecommendationsconversion
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But not in travel booking…
Hotel attach rates for OTAs & TMCs are very low
(For OTAs <2% on average)(For TMCs <20% on average)
The state of conversions in travel
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Why is this the state of the industry?
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OLSET provides OTAs, TMCs and other travel providers with a set of APIs which
enable you to harness the power of
personalization to improve hotel booking conversion and drive hotel
attach rates
The solution
8 © Copyright 2014 OLSET. All rights reserved.
9 © Copyright 2014 OLSET. All rights reserved.
OLSET is here to help!
Create TravelerProfile – known or anonymous
Enrich hotelinventory
MatchingAlgorithm Personalized
Recommendations
Largest global sentiment DB (>200Mn)
Reviews are the #1 driver for bookings
August 27, 2013 - Kelly A McGuire, PhD, Breffni M. Noone, PhD.
Reviews312
(80.6%)Price173
(45.2%)
Industry Example
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Let’s look at a simple example
Expedia
• 51% of travelers who book select one of the first 5 hotels
• 95% select hotel on first page
ORBITZ
• 47% of travelers who book select the 1st hotel
• 93% select hotel on first page
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But what about the 97% who didn’t book?
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Let’s assume that 70% were just browsing
This leaves 30% -
only 1 in 10 book!
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Example 3 different traveler types get the exact same recommendations
on Expedia today
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Expedia –Luxury Traveler
Expedia –Business Traveler
Expedia –Budget Traveler
If Expedia used OLSET’s APIs the results would look very
different and would be personalized for each traveler
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Personalized recommendation for Luxury Traveler
Personalized recommendation for Business Traveler
Personalized recommendation for Budget Traveler
Superior conversion metrics
OLSET generated 13% higher margin per
session and 16% higher conversions than
did baseline “Top 3” EU on l ine t rave l
agency ’s basel ine product
Resulting in an (estimated) uplift of $2mm in
quarterly bookings and higher margins
$$
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A / B t e s t s h o w s 10 . 4% h ig her convers ions fo r OL SET
Proven superior conversions
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Driving hotel bookings in all channels
Direct hotel
bookings
Hotel dynamic
packaging
Post flight cross sales
Hotel attach rate
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The future of automation & personalization
Omnibooking
Automated text & calendar
driver booking
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Where do we go from here
Hotel Direct
Airline cross sell
Destination Services
Unmanaged Travelers
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The team it takes to build these solutions
Recommendation
Engine
Scalable Enterprise
Architecture
Sales and Business
Development
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• 6 Engineering
• 1 Product
• 1 Marketing
• 1 CEO
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Thank You
GADI BASHVITZ
CO-FOUNDER & CEO
WWW.OLSET.COM
@OLSETINC