Chris Hemmeter, Managing director
As co-founder and managing director of Thayer Ventures, Chris Hemmeter has extensive experience of working with startups and high-growth businesses in travel. At the Phocuswright Conference he will take part in the Innovation Post-Game session looking at what's next in online travel.
In a series of interviews with executives participating at the event in Florida in November, PhocusWire finds out what makes them tick... Welcome, Chris Hemmeter of Thayer.
What travel trend are you watching closely right now and why ?
The lines that historically defined subsegments in the “where people sleep when they are not at home” space are blurring. This is triggering a surge of interesting innovations across the travel landscape.
Location
San Francisco, U.S.
What do you make of the current state of startup funding in travel?
Business as usual. Some categories are overhyped, some are under-appreciated and some continue to produce a steady flow of rational interest.
My sense is it has always been like this with the categories themselves changing more so than the funding flows.
Do you agree with the often-used phrase, "travel planning is broken”?
No, I don’t. That phrase assumes consumers long for an organized, rational and concentrated set of end-to-end tools. There’s a great deal of research that contradicts this and reminds us that the act of discover, research and planning is actually pleasurable.
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I honestly don’t think we will ever live in a time when consumers say, “Alexa, build my summer vacation”.
What are the gaps in your experience and knowledge of the industry?
Way too many to list here! This industry with all of its tendrils and layers of shifting complexity is way beyond anyone’s ability to “close the gaps”.
What element in the industry do you consider is still the most difficult to measure?
The degree to which personalization is actually personalization. Most travelers embrace a range of personas when they travel and we have yet to tap into the variables that describe that expression.
If you could teach everyone in your company one concept, what would have the biggest positive impact?
Business, and life in general, is a cosmic game and one should not take one’s thoughts too seriously. We are never always right nor are we always wrong and neither matter in the end. Just enjoy the wonder of the ride!
What other industries do you think travel could learn from and why?
Retail is the obvious one for obvious reasons, but the teaching goes both ways here!
What one mistake do you witness others making more than anything else?
Business leaders are allowing “innovation” to squash “experimentation”. Too much focus on massive, long-term platform level visions at the expense of iterative experimentation. Ironically, some of the most visionary innovators run some of the most rigid and inertia-prone organizations.
What's your must-have app?
Tripit and Uber. Where am I going next and please get me there seem to dominate my experience these days!
How do you book your travel?
All direct with my preferred suppliers (United, Marriott and Hyatt). I have become a power-user of their websites and apps. It’s been that kind of year!
Finance and Startups at The Phocuswright Conference 2019
Hear from Altimeter Capital, Certares, RBC, Morgan Stanley, UBS and Deutsche Bank. Network with many others Founders Factory, Highgate Ventures, General Catalyst, Nomura Securities, Thayer Ventures, SIG and Cambon Partners.