GetYourGuide presents a strategy to enhance your travel experience

Skift Take

In a world where experiences are increasingly valued over possessions, the potential benefits of selling tourist attractions online are significant.

Sean O’Neill

The flight and hotel sales playbook is quite well known. However, the sales experience – where growth is currently seen – is still a work in progress.

Take search for example. “When it comes to flights and hotels, everyone has a mental model of how online searches should work,” said Nils Chrestin, GetYourGuide’s chief financial officer. “But in terms of experiences, that’s not the case. This is one of the areas that excites me the most because no one else has done it before and we need to innovate.”

Chrestin discussed GetYourGuide’s growth plans in an interview at the Skift Global Forum in New York.

The company and its rivals continue to struggle in a fragmented market dominated by small businesses. Many attraction operators have fewer than five employees and limited digital expertise.

The Berlin-based startup works with 30,000 operators but is wondering how to add entries in under-indexed experience categories.

It also seeks to develop intuitive online tools to simplify supplier onboarding and management, encouraging small operators with niche expertise to list their inventory.

GetYourGuide plans to release new product features in early October, including AI-powered tools that will help providers simplify and differentiate their businesses.

“There are tons of opportunities to better serve our suppliers with dashboards, business intelligence and tools to more effectively manage and grow our business,” Chrestin said.

Travel experiences as a growth category

For now, there is a lot of growth to be had.

Earnest Analytics estimated that sales at GetYourGuide, Viator, Tiqets and Klook were a combined 188% higher in the 12 months ending August 31 compared to 2018, according to a report published Monday on behalf of GetYourGuide.

According to Earnest Analytics estimates, spending on tourist attractions – whether booked online or offline – has increased by a third since 2019. This figure outperformed consumer goods by 8 percentage points.

These statistics reflect trends summarized in a newly released analysis by McKinsey and Skift Research on the changing role of experiences in travel.

Marketing tests

GetYourGuide seeks cost-effective marketing strategies to associate its brand with people who enjoy live entertainment, sports and other activities. It is expanding its marketing in the US, where Tripadvisor’s Viator is the sales leader and Airbnb and Expedia are recognized.

In October, Brooklyn Nets basketball players will begin wearing GetYourGuide logo patches on their uniforms. The online travel agency will run ads in the stadium during the season opener and online, where players can enjoy their favorite local attractions.

Earlier this year, the company ran national television ads during the March Madness basketball tournament and the Academy Awards.

IPO plans remain on hold

Founded 15 years ago, GetYourGuide appears to be taking a patient, post-pandemic approach to potential exits, even though CEO Johannes Reck years ago speculated that the company could go public in 2024. While many tech startups have felt the pressure lately, to look for a way out, GetYourGuide now appears without rushing.

“Earlier this year, we completed a secondary transaction in which new investors purchased shares from older investors,” Chrestin said. “There was oversubscription on the buy side, suggesting high investor confidence in the company’s trajectory.”

“We do not need new capital, nor will we need it, to invest in growth,” he said. “There is no pressure from our investors for liquidation.”