This Week in Startups

Kayak CEO Steve Hafner on the state of travel, AI's place, hospitality trends, and more! | E1822

Oct 3, 2023

53:39

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Kayak CEO Steve Hafner discusses the current travel industry landscape. Topics include the adoption of AI, economic dynamics, emerging trends in hospitality, and more!

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Quick takeaways

The rise of technology-driven hotels like CitizenM and the growth of long-term stay options are shaping the way hospitality industry operates.

AI is transforming the hospitality industry by streamlining operations, enhancing customer service, and optimizing revenue management.

The hospitality industry faces challenges in finding profitable business models and balancing interests of hotel brands, owners, and operators, but embracing AI can provide opportunities for improvement.

Deep dives

The Changing Landscape of Hotels and Hospitality

The hospitality industry is evolving, with new trends shaping the way hotels operate. One trend is the rise of brands like CitizenM, which offer a streamlined, tech-focused experience for guests. These hotels prioritize digital interactions, allowing guests to check in, access their rooms, and make requests all through their mobile phones. This eliminates the need for traditional front desk staff and offers convenience for guests. Another trend is the growth of long-term stay options, filling the gap between the randomness of Airbnb and the predictability of traditional hotels. Startups like Anyplace offer fully furnished apartments with amenities like high-speed internet and workspaces, catering to nomadic individuals and remote workers. These trends highlight the importance of operational excellence and the need for technology-driven solutions in the hospitality industry.

Introduction

6min

The Impact of Chat GPT on the Travel Sector

9min

Course Correcting, COVID Impact, and Hiccups Along the Way

12min

Data Capture in Restaurants and Tagging Customers

4min

Implementing Technology in Restaurants

9min

Quicker Reservations, Legal Challenges, and Hotel Trends

3min

Trends in the Hospitality Industry: Hotel Sector

8min

Productivity Benefits of AI and the Future of the AI Revolution

4min

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Today’s show:

Kayak CEO Steve Hafner joins Jason to discuss the current landscape of the travel industry (1:56), its economic dynamics (17:40), emerging trends in hospitality (41:08), and much more!

Time stamps:

(0:00) Kayak CEO Steve Hafner joins Jason

(1:56) The state of the travel industry today and the adoption of AI

(10:50) Roots - Head to https://investwithroots.com/TWIST to sign up and start investing today!

(12:15) Navigating shifts in UI and building bulletproof features for at-scale companies

(15:32) Kayak's response to the impact of Covid-19 on the industry

(17:40) The economics of the travel industry

(28:14) Squarespace - Use offer code TWIST to save 10% off your first purchase of a website or domain at https://Squarespace.com/twist

(29:36) OpenTable, diner ratings, and the advent of QR code ordering

(34:29) The drive behind OpenTable's revenue stream and product adoption

(39:54) LinkSquares - The go-to for all your legal needs; learn more at https://linksquares.com/twist

(41:08) Hospitality trends in hotels