Federation of Indian Chambers of Commerce and Industry (FICCI) recently hosted the first ever Digital Travel, Hospitality and Innovation Summit. Highlighting the industry’s current digital transformation, the thought leaders at the event decoded the technological factors impacting the sector
The worldwide increase of digital travellers, everyday technological changes and disruptive innovations in travel service have brought some major changes in the travel and hospitality segment. FICCI hosted a two-day event to address these technological advancements by bringing together global leaders, upstart innovators and marketing professionals to secure new business opportunities. Speaking at the inauguration, Jyotsna Suri, chairperson and managing director, Lalit Suri Hospitality Group, said, “Technology has drastically changed the tourism sector and the government also realises it as a top priority. Through the launch of e-visas we have welcomed a paradigm shift. FICCI completely supports the government’s efforts and travel startups through its various platforms. These forums bring forward many relevant outcomes, which FICCI shall present to the respective ministry.”
Suman Billa, joint secretary, ministry of tourism mentioned that social media has given people enormous bragging rights for their travel experiences. He stated, “The biggest challenge is adoption of digital tourism. Twenty years ago people who were chasing routes are now chasing unique experiences. Through the advancement of social media it is now possible to target people with a specific interest. It is not uncommon for travellers to seek detailed specifications for their travel plans.”
Asserting on the need of travel technology, he stated, “Digital explosion has turned tourism into a level playing field where even small players can draw the attention of a refined traveller. The top three trends of the future will be cross selling, connecting to the potential consumers and lastly reviewing the travel products. This shall change the travel demographic of the country.”
The keynote session with Deep Kalra, CEO, Makemytrip.com (MMT) unfolded some interesting insights on the emerging travel space. He stated, “While OTA’s hold 40- 45 per cent of the market share, MMT owns 20- 23 per cent share of India’s online travel market. People are not wiling to go to offline agents for the things that they can easily book online. Only complex holiday planning needs hand holding.” Kalra also mentioned that the next big game changes in India’s travel segment will come from the budget hotels. He added that corporate is a massive market and MMT as a brand is looking towards entering it by the end of this year.
This was followed by a panel discussion on digital disruption in the tourism landscape. Moderated by Sharat Dhall, president, Yatra Online, the panel highlighted how hotels, review portals, OTA’s are changing the way they function through adoption of technology. Chinmai Sharma, chief revenue office, Taj Hotels and Resorts mentioned that the brand is already working on a pilot mode of app for direct booking and service requests.
The next two session featured brands like Uniglobe, Carlson Wagonlit Travel, Thomascook, SOTC, Singapore Tourism Board, Google, Byond Travel, Etihad Airways among others. The panels discussed how technology is changing the way they serve their customers. Vikram Ahuja, founder, Byond Travel, stated the importance of virtual reality in attracting mass market of new travellers.
The next day, the discussions went forward on subjects like cross selling, funding for travel growth and redefining the passenger experience through travel. Commenting on how to raise funds in the travel segment, Karan Mohla, executive director, IDG ventures stated, “To bring a disruptive change in the sector one needs to have a vision to connect with the consumers and solve a common problem.”
A startup knockdown session was held on day two, where many startups pitched their ideas to the investors. The event also witnessed the release of knowledge paper on ‘The Next Generation of Travel’ by Avalon Global Research and FICCI.