November 7th, 2023, 10:00 am PT / Category: Interviews
How can the hospitality industry improve direct sales results without compromised margins and compete with OTA giants?
Summary of the video
Marcelo Bicudo, founder and CEO of Travel Cash. Our discussion revolves around the direct booking strategy dilemma, specifically focusing on the choice between cashback and discounts for hotels. Marcelo shares his background in the hospitality industry and loyalty programs, leading to the creation of Travel Cash, a travel fintech company. Travel Cash aims to enhance direct bookings by offering a unique approach—replacing discounts with a cashback system that doubles the value. Marcelo emphasizes the negative impact of discounts on relationships and value perception, proposing cashback as a solution. The conversation delves into the challenges faced during the pandemic, the shift in user behavior, and the importance of building relationships and partnerships in the industry. Marcelo also explains how Travel Cash monitors and measures its impact on shifting users from third-party intermediaries to direct bookings for hotels. The interview concludes with Marcelo encouraging entrepreneurs in the hospitality industry to focus on building connections and partnerships for mutual value.
Bio
Marcelo Bicudo, Founder and CEO of TravelCash, is an entrepreneur who is passionate about traveling, hotels and loyalty. He has worked many years in the hotel industry and database marketing projects, including loyalty. He launched AllpointsTravel.com in 2015 and in 2023 TravelCash, a Travel Fintech that combines both of his passions to became a Travel Currency and a Travel Marketplace. He is now determined to attract his dream team and make TravelCash a global company.
