Revolut’s ‘super app’ could threaten future profitability of leading travel brands across Europe and US, says GlobalData
Revolut’s new super app, ‘Stays’, could threaten the profitability of leading travel brands across Europe and the US, says GlobalData. The leading data and analytics company notes that the app has beat leading brands in the move towards end-to-end booking solutions, which comes right at home with travel-hungry customers looking for deals online.
Johanna Bonhill-Smith, Travel & Tourism Analyst at GlobalData, comments: “Revolut’s app allows travelers to book accommodation ranging from B&Bs to luxury lodges, as well as offering payment end solutions and currency exchange rates without fees. The online travel space is dominated by large industry brands such as Booking Holdings, Expedia Group and TripAdvisor. Booking Holdings has been working towards its end-to-end booking solution as a ‘connected trip’ for some time but it has not yet come to fruition. Revolut may have seized a market opportunity at the right time.”
Various factors are likely to aid the app’s success, with the most important factor being the high demand for travel. GlobalData’s Poll found that demand is highest for domestic trips (43%) in 2021. However, travelling to a different continent (37%) and other countries in the same continent (29%) is also high*.
