Listen: Booking a Hotel? Airbnb, Expedia Push Experiences Too
"Of the travel and leisure variety is seeing a bit of a seismic shift in how people do and books stuff specifically while they're on vacation or traveling somewhere. New companies like Airbnb trip advisor and Expedia are helping you organize. The roughly eighty percent of travel activities now booked off line more after these tech headlines. Investors. Keep their eyes on the tech stocks this week the arrest of Weiwei technologies chief financial officer in Canada over alleged violations of sanctions on Iran fan fears of another escalation in tensions between the world's two largest economies. Determinant market reaction. Saw the Dow tumble as much as seven hundred eighty five points Thursday before sharply pairing those losses in the final hour of the session closing at twenty four thousand nine hundred sixty seven tech firms have been among the worst hit by the icy trade relations between the US and China weighing on the global markets and prompting fears of slowing global growth for the very latest updates tutti markets had to wsJcom or the WSJ app. Microsoft is pushing for the regulation of facial recognition technology, arguing that the matter is urgent Brad. Smith Microsoft's president and chief legal officer says that delays to enacting new rules could. Quote, exasperate societal issues and quote in a blog post Thursday Smith listed, the benefits official recognition, but also urged governments worldwide to enact regulations specifically saying that new laws should notify people and get their consent. When facial recognition tech is being used. And yes, it has finally happened lift has filed confidential paperwork for an initial public. Offering a key step that keeps the ride hailing firm on pace to hit the public market early next year lifts planned IPO is one of the most anticipated Silicon Valley debuts in recent years the filing which was expected which suggest lift remains a step ahead of rival Uber as both work toward IPO's in twenty nineteen. And according to the latest report in the journal lift is aiming to debut in March or April of next year coming up booking a hotel. Why not try parasailing while you're at it? Travel websites are pushing experience now it's a thing. How airbnb? Expedia looked to make your online travel booking a little easier. More and more booking and hotel companies are trying to sell travelers more online than just a place to stay these web based firms. Also want customers to purchase experiences like sailing, excursions food tours and even aquarium adventures the growing trend seems to be working for all parties involved. Let's talk more about it. With the Wall Street Journal's I shall Muslim who joins us in the podcast studio. Welcome. Thank you. I remember hitting upon this for the podcast when I think it was Airbnb that I started to roll out their experiences seems like the concepts made some traction since then. Yeah. More and more people are turning to online travel companies like expedient provider even Airbnb to book their experiences. I mean, they're looking for unique things to do when they're out of town instead of going to a travel agent they're turning to online like many people have in their phones to find things out. Fun things to do. And the good news for, you know, these big hotel entities is that there's a big pot to dip into right? There's huge potential for money. They could stand to benefit from some extra revenue here as well. Right. I mean, all of these companies are in the travel industry, and they just trying to get a biggest share. I mean at some point you have to figure out like how you can make more money, and that's really what they're doing. So there joining this experiences industry as to make sure that they can make more money in, you know, give back to shareholders really how good are things going are traditional travel agents concern, just yet about this rising digital competition. So whatever untold is that travel agents are really concerned that much obviously they've been affected into pass. But they they feel that they're really more travel advisers now than agents, so they're not just booking and selling you a trip or something to do. But they're really catering to you personally. Is the an experience really driving your tin. So they're trying to offer those services a so way to stand out from OT as that may just give you a listing, but not necessarily put an Tinder together for you. You see the adoption of it clearly more people are utilizing it more entities are utilizing as service. I guess the big selling point though is the ease of use. Right. It's convenient, you know, having everything right on our smartphone. It seems like why wouldn't it all work together? Why wouldn't you just have, you know, book something and then book and experience and have it all in one sort of compartment? I think that's probably what's driven people to this. Right. I mean, that's part of what the these companies that are involved in the top of bookings are trying to do people already book, you know, our place to stay with them. Right. So if they book place to stay, and perhaps they book fly, and perhaps a book a car. Well, they want to find things to do. Right. They want to become essentially a one stop shop for most customers. And so I mean right now. About eighty percent of those type of experiences are offline so they're very small, mama. Pop medium kind of companies that are offering these experiences. So these are online travel agencies and hotels a hoping that they can provide that service directly through online and at the same time have all these experiences listed so that people can book everything through them. And then that way, they get more of a person's a spending dollars right for someone who is maybe trying to get a feel of how this might work and their options out there. Where's a good place to start? What kinds of companies have a good footing with this where it's a little user friendly. If someone's looking to book and experience while they travel what's out there. So I mean, I I love the companies are really moving into this. I mean Expedia has been around and has been doing it for awhile typifies has been doing the same. But now they're offering a way for people to book more directly through them. Also, you have eater dot com. That's another big. One and then booking dot com is known for like booking hotels. But now you can book experiences through them too. And they're expanding more worldwide. So some of those are some of the big like online travel agencies that are really moving into space, obviously hotels, always provided some type of service of experiences usually you had to go to your front desk or something when now you can do it online. You can book dose experience in some cases, like even with Marya. You don't even have to be staying at one of the hotels will be able to book an experience. Right. These are all good things to know. Especially now is a holiday season approaches. People are going to be doing their vacation things. So good to get a little bit more organized with maybe I should think so much. Thank you for your time for more details. Head to wsJcom we can find more podcast like this one including our latest from personal Tacoma. Stated Pierce instant message. There is a brand new episode out Friday. That's it for the tech news briefing reporting from the newsroom in New York. I'm telling you Bruce does thanks for listening."