Athul LalDubai: Thanks to the exponential growth in digital tools, travel industry is undergoing a massive change. The situation is no different as far as trade shows and events are concerned. Disruptive models have made the traditional methods of networking and closing business deals hardly effective. Given the challenges, how will trade shows like the WTM portfolio fare in the future?
“There is a need for differentiation of trade shows. From a branding perspective, we would want to be an ideas company than just an event organiser,” said Jeannette Gilbert, Portfolio Head of Marketing, World Travel Market (WTM), Reed Travel Exhibitions (RTE).
In an exclusive chat with Destination Reporter on the sidelines of the recently concluded Arabian Travel Market (ATM) Dubai 2018, Gilbert informed that, going forward, WTM portfolio will have a strapline – ‘Ideas Arrive Here’. “From a branding perspective, it is time for us to be more than just an event organiser. The whole marketing strategy would be to make sure that participants can take away actionable ideas from the show.”
Travel industry is growing rapidly and as a result, lot of events small and niche, are coming up offering a completely different kind of concept with regards to networking and facilitating meetings. “It is an opportunity for us to look at bringing in new products and services, and a slightly different approach to how we run the events. I am working heavily on connecting with our customers in understanding their challenges and what they are trying to achieve. Going forward, we can help them combat those challenges and generate more business,” said Gilbert, who joined RTE in July 2017 after an illustrious career with Fastjet, a budget airline operating in Africa.
With the mushrooming of Online Travel Agents (OTAs), travel industry is witnessing dynamic changes. “Since the cost of entry into the travel industry is low, we are seeing a lot of entrants penetrating the market with much stronger technology USPs. As a result, competition among businesses has become very intense. Consequently, we are noticing eroding profit margins. At the same time, we can see a lot of consolidation happening in the industry. Many traditional travel agents are also entering into partnership with OTAs so as to offer a different retail experience to tech savvy customers.”
Travel Forward & WTM
Gilbert informed that RTE is launching Travel Forward, a brand new event for the global travel and hospitality technology industry, co-located with WTM London 2018 and part of the WTM portfolio of events. The inaugural Travel Forward conference will take place from November 5 to 7, 2018 at ExCeL London, UK, and replace The Travel Tech Show at WTM, which was launched in 2013 as a show within a show.
“Travel Forward is a standalone event, with a dedicated entrance and registration process,” said Gilbert. “Technology is changing the way we do face-to-face business. When you look at WTM and ATM 20 years ago, it was all about signing contracts, completing negotiations and closing deals. Now, things have changed. It is important to facilitate the formulation of trusted partnerships between businesses. This warrants more private meeting rooms, deep thinking and insightful conversations. Offering the next generation technology for travel and hospitality, Travel Forward will plug this gap.”
The new platform will bring together suppliers and buyers from the travel, tourism and hospitality ecosystem. It will have its own keynote speaker stage and two conference theatres. A dedicated buyers’ lounge, product theatre to host demos, and an exclusive area for the travel-focused startup community are other highlights.
Stating that ATM Dubai witnessed 72 per cent growth in terms of participation since 2012, Gilbert said, “RTE is focusing on working in partnership with the upcoming Dubai Expo 2020. They have set a huge target of receiving 24 million travellers within the first six months of 2020. We are working very closely to develop a marketing strategy to promote the initiative.”
According to Gilbert, RTE is looking at opening a new exclusive event in China. “A few years ago, we did look at launching an event in China but the market was not ready at that moment. Now, we have a sales team in China looking at building partnerships with the government departments as well as private sector. We also have a PR agency in place,” said Gilbert, adding that RTE would certainly consider entering the Indian market if they find the right partners.
