This is the first in a four-part series on how the hospitality industry can capitalize on the growing tours and experiences marketplace.
Over the past few years, there’s been a greater focus on experiences in the tourism industry, particularly among younger travelers. Planning a trip isn’t just about finding the best hotel or homeshare in New Orleans but booking the best swamp tour or Cajun cooking class to go along with it. The global tours and activities marketplace is worth about $150 billion annually, with venture capital investors betting on it as the “next great untapped market in online travel,” according to Skift. According to the article, tours are in the same position that online hotel reservations were in 15 years ago: There’s tons of opportunity for digital platforms to revolutionize how tours are marketed and sold, hence the influx of venture capital investment.