Expedia unveils first regional Innovation Lab
With the projection that two thirds of the world’s population will live in Asia by 2030, Asia travel market is expected to grow four times faster than North America and two-and-a half times faster than Europe.
According to Dara Khosrowshahi, President and CEO of Expedia, Inc. there is a clear opportunity in Asia, which entails the company focusing on the region in the mid-term future. It plans to grow the region into the second largest market for the online travel company in the next five years.
In line with its focus in region, Expedia unveils the first ‘Expedia Innovation Lab’ in Asia, with a view to using its proprietary scientific methods to capture consumer online and app travel search and booking behaviour, and to inform future innovation and technology development globally.
The transformation of travel for Expedia is not just about making the average experience better with every single click of the person before, but through analysis and powerful data insights, also improving each person’s unique experience. Only by being able to understand the data-driven insights, this can be done quickly and seamlessly.
“Expedia’s global success comes from a culture that values innovation and investment in technology. The key differentiator is that we do every single improvement based on powerful data insights. It has been our driving force for the past 20 years. We invested US$1.2 billion in technology in 2016 and with our 2000 engineers and 700 data scientists we deliver personalized experiences that come with more choice, flexibility and savings for both our customers and partners”, says Arthur Chapin, Senior VP, Product and Design, Expedia Group.
Jonty Neal, Chief Executive Officer, Expedia Asia adds: “Asia’s emerging position as a leader in mobile application and technology makes it as an ideal location and testbed for us to solve business challenges with new solutions. We have a commitment to growing Asia suppliers, partners, travellers and team, as well as investing in technology and innovation, much of this driven by insights from Asia. The launch of the Expedia Innovation Lab in Singapore reinforces our strong partnership in the travel and technology ecosystem in the region, that we’re very proud to play a significant role in.”
While each individual has a unique experience while booking a trip, collectively this data reveals trends that inform future site and app innovation, in this case, specific to Asia Pacific travellers. In this way, Expedia makes the change that really matter to customers, which helps both them and its partners