Cyril Ranque, president for Lodging Partner Services, Expedia Group
At Expedia for 13 years, in a series of executive roles, Ranque learned the hospitality business at Louvre Hotels Group after an earlier career in the consultancy and finance worlds.
In a series of interviews with executives participating at the event in Amsterdam in May, PhocusWire finds out what makes them tick...
What are the gaps in your experience and knowledge of the industry?
What amazes me is how partial my knowledge of the drivers and constituents of our industry still is after 15 years as an insider.
My primary lens has been “hotel chain” when I was at Louvre Hotels and “OTA” since then at Expedia Group, but there are so many other dimensions in our incredible industry: real estate, sustainability, economic development, tax regulations, geopolitics, cultural experiences, data privacy to name just a few...
It’s endless, touches everyone...
And keeps a whole lot of people busy and employed!
Do you agree with the often-used phrase, "travel planning is broken”?
I don’t think it’s broken or we would not exist.
I think OTAs in particular have made it accessible, self-service and safer/more predictable, but there is still a ton we and the industry can do better to make it simpler, risk-free, seamless, insightful, personalized, enriching, dynamic, exciting, fun, social... and lots more positive adjectives!
It’s our collective job to do this to get consumers to spend more of their disposable income on travel.
When was the last time you spoke to one of your customers, and why?
I speak to lodging partners around the world very regularly, from the large chains to individual property operators or owners – pretty much every place I travel to - to get their pulse, hear what they need and how we are doing.
And then for customers, I get my fair share of brutally honest customer feedback from friends, relatives and just about everybody who knows I am in the travel industry (like most people reading this I am sure!), as the assumption is that we can fix every problem!
What element in the industry do you consider is still the most difficult to measure?
Incrementality of new customers and attribution to the right channel, partner, activity....
I genuinely believe our B2C marketing spend contributes to shifting discretionary spend from non-travel towards the travel category, which helps travel outgrow GDP, and then that OTAs largely bring incremental new customers very efficiently to their travel partners vs. what they get from their direct and other channels.
But the exact proportion of this incrementality is always an interesting challenge to measure.
Same for us when we look at our own marketing spend by channel by the way...
What do you consider to be the best important invention in the digital world in the last 20 years?
Without question, AI.
Considering the amount of supply, demand, channels and customer interactions data already available and growing in the travel space, the power of AI to continuously optimize the matching of supply and demand as well as the interactions with travelers and partners throughout the travel journey is ultra-promising!
I am far from being an expert in that field, but am fortunate to have access to a large group of those inside Expedia Group!
If you weren't in travel, what company would you like to be part of and why?
I could be in the sports management business, as I am quite a sports junkie (and not e-sports, the real thing...)!
Aside from this, I’ve tried a bunch of boring (sorry, highly educative) jobs before, and I’d definitely miss a lot if I was outside travel, so I’d rather not be in that situation!
How do you stay inspired?
By never thinking for one second that I’ve arrived...
Think back to five years ago. Did you envision this is where you would be?
Probably yes... because I took my current job four year ago, and I knew I’d like it ...
What's the one travel mistake you see people making more than anything else?
Believing unreal discounted deals advertised... and thinking that they are smarter than the next guy!
I find that, over time, there is a remarkable correlation between price and quality of the travel experience... and that for instance it’s just not possible to get an incredible week-long, 5-star, all-inclusive vacation for a family of five for $1,000.
We in the industry know that, but sometimes customers – including my own family and friends – unfortunately don’t realize it... and then get frustrated!
What are you reading right now?
Smart Business, by the former chief of staff and strategy adviser to Alibaba Group founder Jack Ma.
Executive Interview & Roundtable: Expedia and the Future of OTAs
As Expedia continues to prioritize its expansion internationally, what's the impact on the rest of the industry? And what does the shifting intermediary landscape mean for one of the world's largest OTAs? Take a peek into how Expedia - and other mighty travel brands - needs to evolve to stay big.