The Online Travel Segment
OTA (Online Travel Agency) model is a huge hit in India however “travel review” has managed to remain a considerably different market segment. Over the next few years, Asia — mostly China and India — and Latin America will drive world economic growth, contributing up to 75% of global GDP from 2010 to 2012. However, 2012 will see one billion arrivals – worth just under $1 trillion U.S. – coming from emerging markets from the BRIC (Brazil, Russia, India & China) and SLIMMA (Sri Lanka, Indonesia, Malaysia, Mexico & Argentina) economies. The 2012 outlook for Asian outbound travel is positive. 6 to 8% increase in this year's expected 14% growth.
In particular India appears to be set for strong growth with 43% planning more outbound travel next year. IPK's travel confidence of India is at a high 113 points. These figures show that India is opening up to more and more travel and this trend will pave way for more in this segment for years to come.
TriporTrap is a hotel review site where one can read feedbacks, comments, and suggestions given by other travelers and then you can decide and plan your trip. Based on those feedbacks TriporTrap has rated the hotels, their facilities and amenities, cafeteria and restaurant facilities, housekeeping and cleanliness, parking facility and overall hospitality. This is like transferring your experiences to all those who are yet to experience the good things of a satisfying holiday trip. This way, you make the wheel complete. They have tagged it ‘Travel Chakra’ or the ‘Wheel of Journey’, of which ‘Read, ‘Go’, and ‘Share’ are three vital axes.
Neeraj Bhatia, Founder and CEO, comes from a middle class family based out at Ludhiana, Punjab. Neeraj has been a travel enthusiastic since childhood and was a Banker for almost 6.5 years. He has done his M.Com from Amritsar and is in the finals of ICWAI.
If you have to go to Yerkud for a business trip for 2 days, you have to be either rely on the host’s choice of hotel or have to depend on the travel agent. But there is a fair chance that you may or may not like that stay. Even if you like the services you don’t have any platform to express your feelings. TriporTrap.com aims to help you as it has host of hotels reviewed by travellers and like-minded people.
TriporTrap aims to cater the Tier I and Tier II segment in the initial stage as the finer details captured by the portal can help the travellers from this segment considerably. The following points are covered:
· In-depth knowledge about places to visit before visiting it actually
· Evaluation of alternatives: Taxi or Train, Flight or overnight bus, Dhabha or Restaurant.
· Avoid few places: A lake which is non-extinct, A zoo where are more pets, less wild animals.
· Good planning and budget choice in advance
· Add places to itinerary
· Reduction in Risk and uncertainties
Primarily sponsored ads model will feed the revenue model for the company in short run and later on they are planning for various OTA affiliations so that the travellers could go on those sites and compare prices about the property and could book from those sites.
They are in the final phase of coming up the fan page of the site so as to provide the SMM tools for their branch. They are in discussion with some loyalty rewards program companies which could market the site well. They are floating travelogue contests on various other sites so as to create awareness about the site.
Neeraj lists the primary challenges as language barrier, laziness, lack of confidence in writing, no incentive, not too much tech friendliness, privacy concern, people are not acquainted to giving feedback on-line. However, he feels, reaching to Tier I & II cities will not be so tough as compared to reaching to rest of India.
Do visit TriporTrap!