Online travel community WAYN ‘poses major threat’
Dragon’s Den star Doug Richard has warned travel companies that one of the biggest threats to their business could come from a new online travel community called WAYN.
WAYN, which stands for Where Are You Now, allows travellers to interact with other travellers from around the world and share their travel experiences in a similar style to Myspace. It attracted $11 million investment earlier this week from a syndicate of investors including lastminute.com co-founder Brent Hoberman and Cheapflights CEO David Soskin (see previous TravelMole story).
“The potential for disruption to your business is enormous,” said Richard, founder and chairman of Library House.
“If I were you I would be cutting deals with them today before they become the new Myspace. If you have any kind of inventory – whether it’s hotels, flights, or whatever – you need to try to sell it here.”
He said this type of user generated content website now has the “highest media value in the world” and the travel industry needs to respond fast.
“It will create an audience of millions of people who travel,” he said. “And it’s just the tip of the iceberg.”
He said agents need to use their expertise to become key sources of information on such sites.
Speaking to ABTA delegates, he painted a bleak picture for the industry.
“Although travel is growing, the business of being in travel is tortuous,” he said.
“I think it’s going to get worse. For a small percentage it’s going to be a glorious few years, but for a great number it’s not.”
By Bev Fearis
Bev
Editor in chief Bev Fearis has been a travel journalist for 25 years. She started her career at Travel Weekly, where she became deputy news editor, before joining Business Traveller as deputy editor and launching the magazine’s website. She has also written travel features, news and expert comment for the Guardian, Observer, Times, Telegraph, Boundless and other consumer titles and was named one of the top 50 UK travel journalists by the Press Gazette.
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