Too much industry focus is being placed on the “sexy” parts of travel, according to Robert Rosenstein, co-founder and chairman of Agoda.
“I hear tons of companies talking about product development. ‘This is my product, look at how cool it is, it’s a trip planner,'" Rosenstein said when asked how he viewed artificial intelligence at the The Phocuswright Conference 2024.
“Where can AI solve real problems? Where we transact, how we transact. I just hate checking into a hotel. It’s miserable,” Rosenstein said. “I’d like to see us solve some of those problems, instead of focusing all of our time on the travel journey part.”
Rosenstein also voiced his fears that although consumers are going to have “an awesome
year as travelers” with travel planning becoming easier, more fun, interesting and more
reliable, whether that would then ripple its way through the industry.
“What we are not finding out is what happens then,” he said. “Turn your attention to the things that are less sexy,” the entrepreneur said. “The way your factory is built, and the distribution. That’s going to make the big difference.”
Rosenstein also shared his perception of the traits of a disastrous founder, and how it is a perilous time to be an entrepreneur.
He went on to discuss the Asia market and the importance of localization: “You can’t be a pan-Asian player. You have to be a hyper-localized player. (Asia) is not a singular unit block,” he said.
From meal plans and payment options, every country was different. “We’ve invested hug sums of money in localization, and that’s why we’re still here,” he said.
Watch the full session with Siew Hoon Yeoh, founder of WiT and editorial director of Northstar Travel Group Asia:
Executive Interview: Tropical Beginnings, Asia Growth and Global Tales