Yahoo Finance Travel AI Strategies, Orient Express Revival and Thailand’s Scrapped Tourist Fee
Good morning from Skift. It’s Friday, June 14, 2024. Here’s what you need to know about the business of travel today.
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Episode Notes
The use of artificial intelligence in the travel industry has grown significantly in recent years. However, the industry still has a lot of work to do to get the most out of AI. Vivek Bhogaraju, advisory partner of data and AI at Skift, provides travel companies with ideas on how to develop AI strategies.
Bhogaraju writes that this is just the beginning of the AI era. He urges companies to be flexible when using the technology, noting that new regulations will eventually be introduced. Bhogaraju also emphasized the importance of hiring the right chief data officers, who he said need extensive technical knowledge and a background in the travel industry.
Although Bhogaraju writes that successful data and AI execution requires urgency and efficiency, he notes that projects that succeed take time and persistence.
Next, LVMH said on Thursday it reached a deal with Accor to speed up the revival of the hotel company’s Orient Express brand, reports Senior Hospitality Editor Sean O’Neill.
LVMH said it would make an unspecified strategic investment in the Orient Express brand. O’Neill notes the joint venture will include ships in addition to trains and hotels. Meanwhile, LVMH downplayed rumors it would open a Louis Vuitton-branded hotel in Paris.
Finally, Thailand has decided to scrap a proposed $8 fee on international tourists arriving by plane, writes Asia Editor Peden Doma Bhutia.
Prime Minister Srettha Thavisin recently said his administration would abandon the previous government’s plan, which was approved in February 2023. Thai officials intended to use the revenue from the tourism fee to fund the management of insurance for international visitors.
However, Bhutia notes the tourism fee faced significant opposition from private stakeholders. Plus, Thavisin said eliminating the tourist fee could produce greater economic benefits.
Producer/Presenter: Jane Alexander
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