The accommodations and air travel markets are largely dominated by online players such as Expedia and Trip Advisor. But unlike them, there remains a much smaller 15% online market share in the tours and activities segment. Here, localized players are often more successful. One such example is Klook, based in Hong Kong. Klookis now planning to enter the US market post its latest capital raise. It is mainly targeting the cities New York, Boston, Chicago, Los Angeles and San Francisco. Expedia and Trip Advisor though have little reason to fear as their models are totally different. As per business intelligence supplied by Morning star, Expedia earns more than two-thirds of its revenues from lodging activities. Trip Advisor meanwhile makes 77% of its revenues from the hotel segment alone. A total of 4.7 million restaurants are listed on the website for reviews.

Source:https://www.forbes.com/sites/petercohan/2018/09/20/klook-targets-tripadvisor-expedia-in-183b-tour-industry/#40769bac3e35

Uploaded Date: 31st October 2018