Introducing Beds Network - Agoda's new breakthrough platform.

The upcoming Christmas and New Year season is a crucial time, as travel is beginning to recover but remains volatile. And Agoda, one of the leading online booking platforms, has simultaneously launched Beds Network, a product described as a "breakthrough" by the company to provide maximum support to its hotel partners.

Travellive spoke with Liyana Jamil, Vice President of Beds Network, to learn more about the app's "breakthrough" features, as well as Agoda's assessment of the tourism industry's potential in 2022.

Madam, why did Beds Network choose this time to launch, and what are its expectations for the travel market in general, and Agoda in particular?

- While countries have made great efforts to maintain the tourism industry throughout the Covid-19 pandemic, focusing solely on the domestic market is not enough. As a leading enterprise in the tourism industry, we aim to connect various sectors, along with government initiatives, to bring international tourists back.

During that time, the Agoda team worked tirelessly to develop suitable tools and products, such as Beds Network, to ensure optimal preparation for the return of travel. While the Covid-19 pandemic presented challenges, it also provided opportunities for us to innovate and collaborate more closely with our partners to find ways to help them optimize their available hotel rooms.

From various data sources and partner feedback, we understand that accommodation establishments are facing significant occupancy rate drops, and managing profitability and B2B distribution is also proving challenging. In many parts of the world, countries are gradually recovering their tourism industries. On the one hand, hotels and businesses in sectors such as finance, aviation, and e-commerce are ambitious to regain market share; on the other hand, travelers are also eager to travel again with the best possible deals.

Recognizing this trend, we launched Beds Network to meet these requirements and support our hotel partners in promptly grasping future travel trends and needs.

We will continue to cooperate to strengthen domestic tourism and prepare for the safe return of international tourism.

It is understood that the launch of the Beds Network will help hotel partners reduce the time spent on drafting contracts and handling unnecessary paperwork... What specific solutions will Beds Network implement to achieve this?

- We contact the B2B and distribution teams of the accommodations directly. If they are already partnering with Agoda, they will not need to set up a new contract specifically for Beds Network. Furthermore, there will be no hidden costs. The accommodations will determine their own pricing on Beds Network.

Conversely, we will support maximizing room occupancy by prioritizing the allocation of accommodation at the rates proposed by the establishment and connecting their available rooms to our global B2B network, or on other direct and online platforms.

Beds Network also allows accommodation partners to adjust prices or availability at any time, so they don't have to wait six months to make price adjustments, making revenue planning easier to manage.

What are the key benefits that hotel partners will receive when joining the Beds Network?

- Firstly, hotel partners can maximize their reach through one of the world's largest B2B networks, with over 10,000 partners and still expanding further.

Secondly, they can capitalize on post-Covid-19 travel demand and drive increased bookings using our analytics and delivery technology.

Third, Beds Network is simple and flexible (no hidden costs or contract issues), so hotel partners can focus on other, more important goals while we help them drive advertising and sales.

So, does Beds Network offer direct benefits to guests?

Beds Network helps hotel partners grow by promoting their hotel rooms to partners within the Booking Holdings network, via Agoda's platform, helping guests get the best prices. Partners can also reach travelers who are looking to book trips through other platforms such as airlines, banks, or travel agencies.

Given the complex developments of Covid-19, is Agoda confident that its Beds Network product will continue to thrive after its launch?

- With Beds Network, partner hotels have complete control over booking and changing the room rates they offer. If already listed on Agoda, hotels don't need any additional contracts, and during this volatile period, they are free to adjust revenue plans, pricing, and property availability at any time they wish. Partner hotels are granted access to showcase available rooms through online and offline links globally.

Agoda launched Beds Network at a crucial time when travel is beginning its recovery but remains volatile. With global markets reopening at varying paces, this platform will support accommodation partners in responding to changing market conditions more effectively and in a timely manner.

As one of the leading travel platforms today, what are Agoda's views and predictions on future global travel trends? How might travel habits change?

- Our data shows a surge in searches for travel destinations whenever travel restrictions are eased. Additionally, people are considering different types of travel, such as road trips (backpacking), seeking eco-friendly accommodations, or traveling to less well-known destinations, as reflected in our recently published Sustainable Travel Trends survey.

Looking further ahead, connected trips (providing all necessary services) are our current priority. Our goal is to create a one-stop-at-destination brand that meets all travel needs, allowing travelers to easily search, book, and pay for accommodations, flights, and experiences with just a few clicks.

We recognize that even as the pandemic unfolds, travel will not stand still. Therefore, we aim to leverage our best technology to provide travelers with the best value deals as markets reopen worldwide.

Specifically regarding the Vietnamese tourism market, could you provide an assessment of Vietnam's potential and opportunities to participate in the global tourism supply chain in the future?

- Although currently only Kien Giang, Khanh Hoa, Quang Nam, Quang Ninh, and Da Nang are allowed to open their doors to international tourists with vaccine passports, Vietnam still shows enormous tourism potential, as evidenced by Phu Quoc welcoming over 200 South Korean tourists to the island at the end of November, and this number is expected to continue to increase in the coming period. In addition, the Vietnamese government is actively discussing easing entry policies, exempting international passengers from certain countries from quarantine, and allowing the resumption of international flights to revive Vietnamese tourism. We have high expectations that the Vietnamese tourism industry will recover from the beginning of 2022.

Beds Network wasn't created solely to target international tourism; local partner banks, e-commerce platforms, and traditional travel agencies can also benefit from Beds Network to better reach domestic tourists in Vietnam.

According to her, how long will it take for tourism to fully recover globally, and between now and then, besides Beds Network, does Agoda have any other plans or products for its partners and consumers?

- The recovery process will be stable but will take some time. The tourism industry will be very different from before, and the businesses that can survive are those that have adapted to the changing needs of customers, suppliers, and governments. As vaccination rates increase rapidly worldwide, we believe that tourism will recover quickly, especially in Asia, in 2022.

We are constantly innovating to provide the best for our guests and partners, ensuring we are always ready when travel recovers. Whether it's regional or international travel, our data-driven approach helps us anticipate emerging travel trends, innovate, and deliver relevant solutions, and Beds Network is one of those solutions.

Additional information

Beds NetworkIt has been launched in 20 markets across Asia, Europe, and the Middle East, including Hong Kong, India, Indonesia, Italy, Japan, Malaysia, the Philippines, Portugal, Spain, South Korea, Taiwan, and the United Arab Emirates, with the goal of further global expansion by 2022. The platform's main objective is to simplify and streamline the distribution network of hotel partners, reducing the complexity of managing multiple third parties and providing solutions to support partner business growth across various segments.

The key features of Beds Network include:

• Flexible revenue management: In today's volatile environment, the ability to flexibly adjust revenue plans regarding pricing and destination availability at any time the hotel owner desires helps minimize the risks faced by partners.

• Reduced unnecessary paperwork: Once registered as a property on the Agoda system, partners do not need any further contracts, saving time and money.

• Widespread distribution to global markets and targeting audiences that meet the requirements of accommodation providers.

• Enabling better collaboration between B2B (Business-to-Business) and B2C (Business-to-Consumer) teams of our accommodation partners: With access to Agoda's global data, analytics, products, and distribution network, business decision-making becomes easier and more efficient.

Lam Oanh