The travel industry has undergone an incredible amount of transformation due to the rapid integration of technology. Earlier customers had to rely on the agents for satisfying every travel-related need, which was a long, tiresome, and time-consuming process. But now, with the rise of Online Travel Agents (OTAs), the travel industry is experiencing a paradigm shift.
The travel agency business has started booming, and there's almost a 40% increase in the total revenue from the industry. The upsurge in travel agencies' business attributes its success to the travel portal development services provided by the travel portal development companies such as Trip Mega Mart.
The changing source of revenue earning
A major chunk of revenue earned by the travel agencies is in service charges and commissions. But this scenario has completely changed over the last few years as the airline commissions have decreased since the mid-90s. Therefore, the travel agencies have now shifted their focus to add-on services like hotels and transport for building up their revenue.
There is a change in this trend due to the rising popularity of online platforms like Airbnb and Uber, which have again caused the revenues to go down. However, the travel agency businesses are evolving into a different dimension with the support of travel portal development services. They can now cater to two major groups of travelers who require the services of travel agencies and are corporate travelers and international tourists.
However, many business travelers still prefer the services of travel agencies simply for the love of custom itineraries and international holiday planning services offered by them as these people do not have enough time and would like to outsource them. Therefore, these customized itineraries and international holiday packages have boosted the earnings of travel agencies and are making up for the loss of commissions for the travel agents.
Innovation for better future
The evolution of travel agencies towards accepting travel portal development services is, however, a temporary solution. The journey of travel agencies from accepting the technology after the dwindling commissions of airlines to hotels and taxis and then to business travelers and package tours has indeed been of some help. But now, these travel agencies need to reinvent and remodel their businesses if they want to have a firm footing in this harsh and ever-competitive travel industry. The focus of these travel agencies should be adding valuable services to the customers' travel requirements.
Value addition services
One of the best options is to avail the services of a travel portal development company that creates a platform and looks after all the minor issues travelers face and provide them with valuable services. Some of the problems that travelers face are Internet, language, foreign exchange, hotel booking, etc.
Therefore, a travel agent should get the help of Trip Mega Mart which is a B2B Travel portal development company that is easy-to-use and instantly responds to queries on travel agency software integration. It also looks after the white label portal development.
Thus, when a travel agency provides all the necessary services under a single roof, it will help the customers prefer using their services and help towards client retention and growth of revenue.
Another aspect which a travel agency can focus upon is the factor of the uniqueness of locations. They can create tailor-made packages for exotic locales while enhancing the experience of travel for the customers. Customized packages and itineraries provide an edge over OTAs by adding value to a customer's travel experience.
Networking and data sourcing
Travel agencies should create a network of travel agents in various countries. They can also hire an outsourcing team to help them in this aspect by enabling them to share real-time information with fellow travel agents and offer personalized services to the clients. Data sourcing will allow them to draw meaningful insights and hike up the revenues. Trip Mega Mart is sure to help in this aspect with its experience in curating travel portal websites and mobile applications with clear, safe, and secure API solutions.
Dynamic and informative portals
With the help of a travel portal development company like Trip Mega Mart, a travel agency must create an online dynamic travel portal offering helpful information to travelers regarding all of their travel-related queries. With the help of a dynamic portal and mobile applications, a travel agency's business will offer paid consultancy to the clients and information such as the best hotel to stay, the best time to visit, places to avoid, and so on.
Today, travel agencies need to be proactive and take the initiative along with leveraging the technology to their advantage. They can use the services of the companies providing them with travel portal development in India to create a new online platform and offer the latest and the best value-added services to the customers. The only solution for the travel agency business is to hire the best travel portal development company in India, and that is Trip Mega Mart. They have extensive experience creating online travel portals, mobile applications, and all-inclusive websites for any business model.Posted on 26-Sep-2020