The travel industry took its greatest hit in recent memory during the pandemic.
Around the world, flights came to a near standstill in 2020 as part of a global effort to curb the spread of the coronavirus. A report from the Economic Survey of Singapore showed that it was only in Q4 2021 that vaccinated travel lanes in countries around Southeast Asia started to open up.
As global travel opens up after two years of restrictions, Singapore expects between four to six million international travellers in 2022 alone. We are seeing a resurgence in the industry in the form of “revenge travel”, with 46 per cent of Singaporeans willing to spend to travel. The International Air Transport Association (IATA) expects international air travel to return to pre-pandemic levels in 2023, a year sooner than their previous 2024 estimate.
The travel industry is in a unique situation. Though it faces the challenge of being rebooted from a pre-pandemic era to rejoin other industries on a shorter runway than expected, this revival serves as an opportunity for startups to face that challenge on a fresh slate and set a new bar for disruption.
Here are four travel tech startups from the Korea Tourism Startup Centre (KTSC) programme in South Korea that have rolled with the punches during the pandemic and seek to expand our perceptions of the travel industry and the creative use of technology in a post-pandemic world.
Tripbtoz – Enhancing the physical travel experience with metaverse layers
During the transitional periods between lockdowns, the world became more receptive to phygital experiences. Tripbtoz is a video-based travel app that leverages content travelling through Web3 and extended reality (XR) technologies, adding virtual and interactive layers to enhance physical locations.
Using Tripbtoz’s platform, government agencies and property owners can run campaigns, while users can make journals and guide for others to enjoy. This allows a single location to be experienced in many unique ways.
Tripbtoz has enjoyed good financial traction and allocates a percentage of its daily gross booking value to its loyalty currency, Tripcash. Tripcash can be awarded to users through making XR content and booking through the platform. Organisations can also reward users for specific tasks and build a body of user-generated content (UGC) to suit their needs.
The platform also empowers users to interact with remote destinations through XR and opens an avenue to earn Tripcash remotely.
Stayfolio – A high-touch approach to creating the modern fine stay journey
After the lockdowns, people are willing to spend more for quality travel and value experiences. Stayfolio addresses this need by providing refurbished, curated luxury accommodations to define the “fine stay experience”, an offering that boasts a reservation rate of 82 per cent.
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Stayfolio’s full value chain model starts with an in-depth discussion with owners who want to breathe new life into their storied properties. The team revamps the property from the ground up with design, construction, and styling to accentuate its history, heritage, and charm.
After that, they implement the technological infrastructure of the property with IoT gadgets, AI concierges, reservations, and contactless systems. Once everything is in place, Stayfolio manages the property, covering backend aspects such as marketing and bookings on their site.
Stayfolio believes their high-touch approach from start to end enables them to architect fine stay properties rooted in story and natural beauty while making them convenient and relevant for the modern traveller.
ONDA – Scaling property management solutions for everyone
The hotel industry was in survival mode during the pandemic. Staff had to double up on duties and had to scramble to cut costs by running efficiently through digitalisation. Even now, hotels are still short on staff, correlating to a significant drop in customer satisfaction.
ONDA has raised US$15 million this year for their Series B and has 110 team members around the globe and counting. Their growth through the pandemic is a strong sign that working with complete digital suites could be the industry standard.
As South Korea’s first company to be selected as a Google Hotel Partner, ONDA is poised to replicate its success in other territories. ONDA expanding its digital suite beyond a hotel property management system to scale such that smaller businesses like motels and AirBnbs can easily adapt it to be the de facto digital partner for any lodging business.
Infoseed – Travel tech and navigation for the smart city of tomorrow
Deliveries of food, groceries, and more were lifesavers during the pandemic. However, delivery crews weren’t always able to find the exact locations of the destinations.
Infoseed is ambitiously mapping the world in one-metre square grids. Their precision addressing system gives each one-metre square grid a unique geography nickname, or geo.nick for short.
Users can personalise each square grid with specific naming conventions. Infoseed’s solution also considers verticality, so spaces above or underground can be tagged. Food delivery companies working with Infoseed have tagged specific entrances for properties in their delivery radius ideal for motorbikes, increasing delivery efficiency.
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Infoseed’s solution can be the catalyst for smart cities to improve the quality of delivery services, sync with autonomous vehicles for accurate and safe implementations, and improve the response time of emergency and municipal services.
They have worked closely with the Korean government to manage and display facilities near the Hangang river and with construction companies to provide digital twins.
What is next for travel tech in the future?
The disruptions and new takes in travel tech will not only adapt to the demands we have of travel in a post-pandemic world but also elevate the expectations we have in the space.
Right now, we see travel tech picking up speed and taking pages from its brethren industries. We believe that as the industry starts to mature again in a post-pandemic world, certain solutions to challenges specific to travel will begin to find applications in other industries.
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