Travel buyers who embrace travel startups could unlock the value of their travel programs, but they also face the risk of losing money. BTN’s sister company Phocuswright keeps track of more than 3,300 travel startups established in the last decade, which have raised more than $76.5bn in funding. Working with startups can offer a new perspective on the industry that is not obstructed by daily operations, but integrating them into the travel program can also be challenging. However, when done correctly, partnering with startups can be beneficial and lead to a long-term relationship. It is important for buyers to have clear communication with startups and assess their financial stability. Customers should work together with startups to set clear expectations and identify the metrics to measure success. Bringing in IT is also crucial for successful integration.
Unlocking Program Value by Embracing Travel Startups
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