01/17/2020 | Press release | Distributed by Public on 01/17/2020 02:47
Vynn Capital releases the region's first research report on Travel Tech industry in Southeast Asia as the venture firm continues to work with partners who are interested in the travel landscape.
KUALA LUMPUR, January 17, 2020 - Vynn Capital, Southeast Asia's leading early stage venture capital firm, today released the region's first Travel Tech report, titled 'Travelution'. The venture firm focuses on selective industries, including tourism as well as synergistic verticals such as food and property. In 2018, Vynn Capital also jointly announced a partnership with World Tourism Organization of United Nations ('UNWTO'). UN- WTO has been championing the effort of encouraging governments and companies to be innovative and adopt digital transformations.
The report titled, 'Travelution' was created with input from the Pacific Asia Travel Association ('PATA') as well as UNWTO. Some of the key conclusions include:
1. A blurring line between travel and other industries - for instance, travel companies like Expedia are in- creasingly diversified as they would expand, organically or by acquisition, into property services, food man- agement etc;
2. Traditional businesses are leveraging the growth in travel tech to scale operations and market presence, making tourism less about holidays and more about cross border commerce opportunities; and
3. On top of the observation of more North Asian monies flowing into the Southeast Asia region, there is also more interest from the U.S. in investing into the region.
The firm also predicted that there will be more investments into travel tech startups in the region by larger tradi- tional players as well as later stage funds. At the same time, it is also expected that there will be more consolidations happening as an increasing number of smaller startups get bought out or absorbed by larger platforms and com- panies.
'Whilst many would view industries such as travel as a silo opportunity; we believe there are evidences of conver- gence - companies cutting across industries and people become savvier about industries that are deemed as syn- ergistic expansion from the one that they are in. Investing into the right sectors is becoming more important and Vynn Capital believes that focusing on travel tech as well as the selected industries where we are investing is a competitive advantage over the long term, especially when Southeast Asia's economies are converging.' says Victor Chua, Vynn Capital's Founding & Managing Partner.
The report can be requested from the firm or downloaded from the website.