Competition in the tours and activities market is heating up, but booking platform GetYourGuide isn’t rushing to buy or sell, said Co-Founder and Chief Operating Officer Tao Tao at Skift Forum Europe in April.
“Why would you consolidate a tiny market if you have the opportunity to grab a share of the big one?” asked Tao. The tours and activities players combined — including big names like Expedia and TripAdvisor, and more specialized outfits like GetYourGuide and Klook — only claim around 2 to 3 percent of the global market, according to Tao.
That being said, the competition is still real from the likes of Airbnb, Booking.com, and hotels and airlines, something Tao expected. “We’re very cognizant of competition … That said, we’re very confident in our ability to execute,” said Tao.
Tao also said that some of the bigger players may not have a secure foothold in the activities world. Booking.com for example came into its own with hotels, and adding a different kind of product to the mix might not be quick and easy.
Right now, Tao is focused on consumer behavior — the fact that travelers are booking activities in-destination, increasingly on mobile — and trying to get them to associate activity booking with GetYourGuide, instead of the fragmented reality that currently exists.
This effort will soon involve launching GetYourGuide-branded tours.
“This industry has its moment in the sun,” said Tao. “It’s been a long time coming.”
You can watch the entire interview above, or consider reading more coverage of Skift Forum Europe.
At Skift Forum Europe in Berlin, Europe’s travel leaders gathered for a day of inspiration, information, and conversation.