The upcoming Christmas and New Year period is a crucial time, when tourism is starting to recover but still continues to be volatile. And Agoda - one of the leading online booking platforms, has launched Beds Network, a product described as "groundbreaking" by the company to maximize support for hotel partners.
Travellive had a conversation with Ms. Liyana Jamil, Vice President of Beds Network to learn more about the "breakthrough" of this application, as well as Agoda's assessment of the potential of the tourism industry in 2022.
Madam, why did Beds Network choose this time to launch and what do you expect to bring to the travel market in general, and Agoda in particular?
- Although countries are making great efforts to maintain the tourism industry during the Covid-19 pandemic, domestic tourism alone is not enough. As one of the leading businesses in the tourism industry, we want to connect the industries, along with government initiatives to bring international visitors back.
During this time, the Agoda team has been working hard to develop the right tools and products, such as Beds Network, to ensure we are best prepared for when travel returns. While Covid-19 has brought challenges, it has also created an opportunity for us to innovate and work more closely with our partners to find ways to help them optimize their hotel inventory.
From multiple data sources and feedback from our partners, we understand that accommodation establishments are facing a large drop in occupancy, and challenges in managing profits and B2B distribution. In many parts of the world, countries are gradually restoring the tourism industry. On the one hand, hotels as well as businesses in fields such as finance, aviation, e-commerce, are ambitious to regain market dominance, on the other hand, tourists also want to travel again with the best deals.
Recognizing that trend, we launched Beds Network to meet these requirements and support hotel partners to promptly grasp the potential travel trends and needs of future travelers.
We will continue to work together to strengthen domestic tourism and prepare for the safe return of international travel.
It is known that the launch of the Beds Network team will help hotel partners reduce the time spent on drafting contracts and conducting unnecessary paperwork... To do this, what specific solutions will Beds Network deploy?
- We work directly with the B2B and distribution teams of the properties. If they are already working with Agoda, they do not need to set up a new contract specifically for Beds Network. There are no hidden costs. The properties decide the price for their properties on Beds Network.
In return, we will help maximize room occupancy by prioritizing the distribution of accommodation points at the property's proposed rates and connecting their vacant rooms to our global B2B affiliate network, or other online and offline platforms.
Beds Network also allows accommodation partners to edit rates or availability at any time, so they don't have to wait up to 6 months to make price adjustments, making revenue planning more manageable.
What are the outstanding benefits that hotel partners will receive when joining Beds Network?
- Firstly, hotel partners can maximize their reach, through one of the largest B2B networks in the world, with over 10,000 partners and still growing.
Second, they can capture post-Covid-19 travel demand and drive increased bookings, using our analytics and distribution technology.
Third, Beds Network is simple and flexible (no hidden costs and no contracts), so hotel partners can focus on other more important goals while we help them drive advertising and sales.
So does Beds Network bring direct benefits to guests?
Beds Network helps hotel partners grow by promoting their hotel rooms to Booking Holdings partners via Agoda's platform, helping guests get the best prices. Partners can also reach travelers who are looking to book their travel on other platforms such as airlines, banks or travel agents.
Beds Network Homepage
Given the complicated developments of Covid-19, is Agoda confident that the Beds Network product will continue to grow after its launch?
- With Beds Network, hotel partners have complete control over the booking and changes to the room rates they offer. If a hotel is already an Agoda property, there are no additional contracts required and during this volatile time, they are free to change their revenue plans regarding prices and availability of their destination at any time they wish. Hotel partners are given access to showcase their availability through online and offline links globally.
Agoda’s Beds Network is launching at a crucial time as travel begins to recover but continues to be volatile. Global markets are opening at different speeds, and the platform will help accommodation partners respond to market changes more quickly and effectively.
As one of the leading travel platforms today, what does Agoda think and predict about global travel trends in the coming time? How might travelers' travel habits change?
- Our data shows that searches for travel destinations spike whenever travel restrictions are lifted. Additionally, people are considering different types of travel, such as road trips, finding “green” eco-friendly accommodation or visiting lesser-known destinations, as shown in our recently published Sustainable Travel Trends survey.
Looking further into the future, the connected trip (providing all necessary services) is the concept we are prioritizing now. A one-stop destination brand that meets all travel needs, helping travelers easily search, book and pay for accommodation, flights and experience options at the destination with just a few clicks is what we are aiming for.
We recognise that even as the pandemic continues, travel will not stand still. So we look forward to leveraging our best technology to offer travellers the best value deals as markets continue to open up around the world.
Regarding the Vietnamese tourism market alone, can you give an assessment of the potential and opportunities for Vietnam to participate in the global tourism supply chain in the coming time?
- 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 that it has great tourism potential, demonstrated by the fact that Phu Quoc welcomed more than 200 Korean tourists to this pearl island at the end of November, and is expected to continue to increase in the coming time. Along with that, the Vietnamese Government is actively discussing to loosen entry policies, exempt quarantine for international passengers from a number of countries around the world and allow the restoration of international flights to restore Vietnam tourism. We have high expectations that Vietnam's tourism industry will recover from the beginning of 2022.
Beds Network is not only aimed at international tourism, local affiliated banks, e-commerce platforms, and traditional travel agents can also benefit from Beds Network to better reach domestic tourists in Vietnam.
How long do you think it will take for global travel to pick up again, and until then, besides Beds Network, does Agoda have any other plans or products for its partners and consumers?
- The recovery will be steady but it will take time. The travel industry will look very different and the businesses that will survive will be those that have adapted to the changing needs of customers, suppliers and governments. As vaccination rates increase rapidly around the world, we believe travel will recover quickly, especially in Asia, in 2022.
We are constantly innovating to provide the best for our guests and partners, ensuring we are ready when travel returns. Whether it is regional or international travel, our data-driven approach helps us stay ahead of emerging travel trends, innovate and deliver the right solutions, and Beds Network is one of those solutions.
Topas Ecolodge - one of the "green" resorts loved by international guests in Vietnam
More information
Beds Networkhas been launched in 20 markets across Asia, Europe and the Middle East, including: Hong Kong, India, Indonesia, Italy, Japan, Malaysia, Philippines, Portugal, Spain, South Korea, Taiwan, United Arab Emirates, and aims to expand further globally by 2022. The main objective of the platform is to simplify and streamline hotel partners’ point of sale distribution networks, reduce the complexity of managing multiple third parties and provide solutions to support partners’ business growth across different segments.
Key features of Beds Network include:
• Flexible revenue management: In these volatile times, having the flexibility to change revenue plans regarding pricing and destination availability at any time hoteliers wish will help minimize the risks faced by partners.
• Reduce unnecessary paperwork: Once registered as an accommodation on the Agoda system, partners do not need to have any additional contracts, saving time and money.
• Widely distributed to global markets and targeted to the requirements of accommodation providers.
• Help accommodation partners' B2B (Business-to-Business) and B2C (Business-to-Consumer) teams collaborate better: With access to Agoda's data and analytics, products and global distribution network, business decision-making becomes easier and more efficient.
