Skift Take
— Rashaad Jorden
Good morning from Skift. It’s Friday, May 24. Here’s what you need to know about the business of travel today.
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Episode Notes
OpenAI, Google and Meta have big plans for AI chatbots that can serve as personal assistants for travelers. Travel Technology Reporter Justin Dawes provides takeaways after reviewing the latest updates.
OpenAI is releasing new voice translation capabilities in the near future that can understand non-verbal cues and recognize different voices in group conversations. Dawes notes OpenAI’s voicebot could break down language barriers that could keep travelers from visiting certain destinations. OpenAI and Meta are also promoting their tech’s visual translation capabilities, which help travelers, for example, figure out a menu not in their native language.
While Dawes notes OpenAI is the furthest along in creating a virtual personal assistant that can be a tour guide, he writes Google is the furthest along in developing trip planning tools integrated with booking options.
Next, Chase Travel saw its sales grow as fast as Booking Holdings’ last year. But Chase said it faces some headwinds, reports Executive Editor Dennis Schaal.
Chase Travel reported it grew its gross bookings 25% year-over-year in 2023, just ahead of Booking Holdings at 24%. Meanwhile, Expedia Group registered only 10% growth. Chase Travel executives have said they’re looking to gain share from competitors such as Booking Holdings and Expedia that have been around for decades.
Chase Travel did report at its recent annual investor day that “macro travel headwinds” were impacting its profit margins. One Chase Travel executive told investors that the company saw lower growth in spending by luxury travelers.
Finally, India’s largest airline IndiGo is launching a business-class product by the end of this year, reports Asia Editor Peden Doma Bhutia.
CEO Pieter Elbers said the new product is part of IndiGo’s plans to adapt to India’s changing travel landscape, adding the carrier has seen a greater demand for premium travel. He also expressed confidence that the new offering would cater to corporate travelers’ needs. Elbers indicated IndiGo would unveil information about news routes in August.
Producer/Presenter: Jose Marmolejos