The podcast starts with Skift Global Forum news, where U.S. travelers will have the option to renew their passports online starting on Wednesday. U.S. Deputy Secretary of State Richard Verma believes that half of passport renewals will be done online in the near future, despite the online option potentially not being faster than the in-person process. However, Verma emphasized that the online renewal process would offer a better customer experience. The State Department tested an online renewal process with 200,000 participants, paving the way for easier passport renewals for travelers in the U.S.
Booking Holdings’ short-term rental business is rapidly growing to compete with Airbnb, with CEO Glenn Fogel stating that they are now selling two-thirds of the room nights for short-term rentals compared to Airbnb. In the past 13 quarters, Booking Holdings has outgrown Airbnb in terms of short-term rental business growth for 12 of them. With close to 8 million short-term rental listings worldwide, Booking Holdings sees a significant opportunity for growth in the U.S. market, where they currently have only a small number of listings. Fogel sees this as a chance for substantial expansion in their short-term rental business.
On the other hand, Tripadvisor has decided to discontinue direct bookings for vacation rentals on their platform. Starting on November 1, reservations with check-in dates will be canceled, and guests will receive full refunds. However, this does not mean the end of vacation rentals for Tripadvisor. The company plans to turn to third-party providers to accept vacation rental bookings, similar to their model for hotel bookings. By discontinuing direct bookings, Tripadvisor is shifting its strategy to focus on partnering with external providers for vacation rental bookings.
This shift in strategy allows Tripadvisor to streamline its operations and focus on providing a better customer experience for both guests and hosts of vacation rentals on their platform. By partnering with third-party providers for bookings, Tripadvisor can leverage the expertise and resources of these partners to improve the overall booking experience for users. This decision is part of Tripadvisor’s ongoing efforts to enhance its vacation rental business and provide a more seamless booking process for travelers looking to rent accommodations through their platform.
Overall, these developments in the travel industry highlight the ongoing evolution and competition within the market, with companies like Booking Holdings and Tripadvisor adapting their strategies to stay competitive. The move towards online passport renewals offers convenience for U.S. travelers, while Booking Holdings’ expansion in short-term rentals showcases their commitment to growth in this sector. Tripadvisor’s decision to partner with third-party providers for vacation rental bookings demonstrates their focus on improving the booking experience for users, signaling a shift in their approach to this segment of their business. These changes reflect the dynamic nature of the travel industry and the innovative strategies being implemented by key players to meet the changing needs of travelers worldwide.
