Marriott Moments marketplace sees upgrade, becomes one-stop luxury experience shop
On Monday, the world’s largest luxury hotelier, Marriott international, unveiled plans to merge its various reward programs by August. The resultant scheme will offer unparalleled scope and depth, and is equally good news for investors and travellers. In a synchronous update, Marriott will also be updating its Moments marketplace – now, it’s a one-stop shop for any luxury experience you could conceive of (110,000 across 1,000 global destinations). These experiences will be purchasable through the Marriot rewards scheme, but they’ll also be available for good old hard cash.
Marriott’s share price has surged this week
SOURCE: Yahoo Finance
David Flueck, Marriott’s senior vice president of loyalty, explains the thinkgin behind this evolution: “The opportunity for us is to expand the travel experience for our members. They’ve come to rely on Marriott for incredible brands and hotels; now we can deliver more to them.”
Deanna Tring, hospitality editor at travel industry publication Skift, says that this is a move all hospitality companies should be considering: “Every brand in the travel space has to be more full-service. It’s not a question of should they do this. For Marriott to compete, they have to do this.”
Marriott’s overhaul of Moments is down to its acquisition of Place Pass, a “meta-search site for local experiences.” Prior to this acquisition, Moments existed on a far smaller scale. Now, of its 110,000 available experiences, only 8,000 are exclusive to Marriott, and of its own design. That means that Moments is really an aggregator and broker of experiences. As a result, the scale it’s been able to achieve is immense.
In the short term, the biggest difference might be a reduced presence for the concierge, which is encouraged to push Moments over its own advice. Flueck explains: “The expectation is that we can bring our concierges’ immense and extraordinary local knowledge into the Moments platform. It’ll take time to get there with 6,500 properties around the world, but we’d like them to really become our partners in this program.”
According to Tring: “It will be an education process. But gradually, travelers will start to think differently about how they book and plan their trips.”
Dominion holds Marriott International in its Global Trends Luxury Fund.
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