OTAs are back and stronger than ever in 2023
Latest data confirms a robust OTA resurgence, with top revenue platforms dominating the market and regional Asian OTAs gaining popularity
Cloudbeds' second annual 'Big Book of OTAs' dives into the evolving landscape of Online Travel Agencies (OTAs), offering lodging businesses strategic insights to enhance their distribution strategies and maximize revenue in a dynamic travel market.
Key takeaways
- Mobile bookings are a top priority for OTAs as they’re at an all-time high, and demand for hostels, shared accommodations, and experiences is back;
- Leisure travel is softening as the pent-up demand that’s fueled travel since the pandemic cools, while group and corporate travel are primed to pick up the slack;
- OTAs are embracing a future of AI-powered travel planning and uniting forces with fintech companies, signaling the importance for lodging businesses to ensure they utilize similar tools to keep up;
- Traveler loyalty and retention have gained growing importance amidst economic woes.
Download the eBook at Cloudbeds