Last week my co-founder and I went to Los Angeles for the largest travel conference of the year, Phocuswright. This would mark our third time at the conference since we started the company. Every year we go, something interesting happens for the future prospects of Reservamos. This year was no different!
The conference in itself is seen as the “old school” conference for travel. Led by large travel companies who have been in the game for a very long time (think: Sabre, Amadeus, Expedia, Etc). The conference lineup is usually very strong, with participation from public company CEO´s, rising startups and trends in the industry. They do a great job of covering most travel verticals in a global framework which is not something easy to do.
However, we have found that the most valuable asset of the conference is not the panels but the meetings outside the event, which notoriously take place at the hotel lobby. It really looks like a speed dating event, where all attendees are focused on maximizing their time in thirty minute slots to get through the most meetings they can.
The panels, particularly from public company CEO´s have become a bit repetitive and broad (it’s the nature of being a public co. CEO). A clear example is the fireside chat with Glen Fogel from Booking, where most are softball questions and no new information is given. There are some times where new-creative chats are on stage, like the one from Bill Gurley. I really liked a fresh voice, challenging some industry standards (i.e. hotel check-in-check-out). Btw, full disclosure, I did not see any of these panels live.
The hotel lobby is another story. I think there is immense value in these one-on-one meetings. Most attendees are willing to skip the keynote panel to meet a potential client, partner, investor, etc. Yet there is no structured way to do this (the event app is not great). If phocuswright manages to do this well, it could extract a lot more value from its clients.
At the lobby, people are scrambling for tables in a crowded space, chatting about potential (sometimes sensitive) business opportunities, where competitors are in the same room usually looking at how that conversation is evolving. This is one of those things you think, there must be a better way…
Attending phocuswright has become important to us as we get a chance to talk with a wide range of people/companies in the industry who could become valuable partners for Reservamos. We managed to meet leading global-regional travel players, venture-growth investors in the space, current and potential clients, competitors and advisors. It´s great to have an update and let everyone know how we are growing.
We will try to attend this event on a yearly basis given the global reach and high-level of attendees in the space. You can really ignite something big for your company during a three-day trip… now it is time to follow up and execute. Till next year!
On a side note: I highly recommend watching Benedict Evans´ new presentation titled: The end of the beginning. Completely agree that this information revolution is just getting started. Much to do.
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