- COVID-19 has caused threats to the global economy, particularly the travel industry, resulting in the massive revenue loss of many travel agents, hotels, restaurants and airlines. Some businesses had to shut down, while some had to undertake in massive employee layoffs to minimize expenses to overcome the crisis. In the USA, the travel industry accounted for 3% of her GDP and 30% of her service exports, the highest among all service exports.
- Many travel booking startups, such as Tripbnb.com, are helping domestic accommodation providers draw up new business strategies and the country’s travel industry had to enhance their technical standards with AI-based systems.
- Travel booking startup Tripbnb.com also helped travelers to quickly select the most suitable accommodation from tons of choices with AI for travelers to save time from data search and leave more time for their family trips.
TRIPBNB listed in 2020 addresses the traveler’s comments and feelings about accommodation with AI. Through massive data analysis and computation, it implements effective and massive analysis of various accommodation information from travelers and provides hotels with a report on feasible business strategies based on the analysis results. With this report, hotels can adjust their procedures from the viewpoints and feelings of customers. The report contents may include pricing strategies, room type strategies, customer service improvement or adjustments in food and beverage menus.
Post-pandemic business strategies
According to information from U.S. Travel Association, the spending on travel and accommodation bookings in the USA was reduced by 41% and 77%, respectively, YoY as a result of COVID-19. Although pandemic control has significantly reduced international travel, about 80% of US travelers still arranged domestic travels, and two thirds of US citizens have planned their annual leave by the end of the year.
Many hotels having contacts with TRIPBNB express their needs to adjust their hotel business strategies from the consumer’s point of view to cope with the highly competitive accommodation market. Neither low-price competitions nor massive ineffective adverts can be the long-term strategy for hotel operations. Understanding travels and competitors is the key to survival in the highly competitive market.
A progressive technological change is taking place in the travel industry. It aims to develop active operations (satisfaction) and long-term patronage (loyalty) in travel and the customer’s point of view decides both. TRIPBNB analyzes the customer’s service comments with AI. Through in-depth understanding of the customer’s feelings and language, it captures truly valuable information from the ambiguous or metaphoric comments of customers for travel businesses to take effective countermeasures.
Unreliable online comments
Many determine their travel destinations from other’s comments, including locations, restaurants, or accommodations. People may have known that some comments are not the whole truth, some are offensive comments made by competitors, some are emotional releases of individuals, and some are advertisements claiming how great the advertiser is. When they discover that everything is not as good as rated, the travel mood has been ruined.
The Access statistics show that 85% of US citizens plan travels to fulfill the travel expectation of their children; 82% of US citizens think that travels can release stress and relax them; 81% of US citizens hope to have some beautiful memories from their travels. All these data show the importance of one thing: Don’t let unreal ratings or complaints or comments ruin the trips.
Vienna, Austria has launched the “Unrating Vienna” campaign because of unreal comments. In the campaign, they used true customer ratings. For example, some rated the Leopold Museum one star and said in the comment “Paintings are disgusting.” In fact, the museum has a collection of works by the most eminent Austrian artists, such as Egon Schiele and Gustav Klimt, who are globally famous.
According to statistics, 59% of US families determine their travel destinations (accommodations) and planning (restaurants and activities) with travel websites (TripAdvisor, Booking, Expedia, trivago, etc.). Travellers definitely don’t want their trips to be ruined by these doubtful comments. Then, how can people judge the authenticity of information contained in each of the 702 million comments without wasting valuable time? After all, you are going on a trip rather than a research project, right?
Travel booking startup Tripbnb.com performs in-depth data analysis, emotional analysis and semantic analysis of the comments on travel websites with AI to prevent travelers from getting confused about these 702 million comments. Direct big data analysis is TRIPBNB’s strategy to eliminate unreal ratings, untrue advertisements and ambiguous comments. TRIPBNB provides travelers with analysis results for them to save their valuable time and enjoy a beautiful trip.