Hi there,
Let's pop the champagne – it's our 150th TNMT Newsletter edition 🎉. | | Rewind to six years ago, almost to the day in 2018 when we started this journey.
Since then, we've been as consistent as Berlin's love for techno, delivering every two weeks without fail, pausing only once in mid-2020 to give our tech stack and website a quick facelift.
We'll try to spare you the self-congratulatory talk, but it's a moment for us to briefly look back.
What began as a personal passion project for some of us (including myself, Lennart, at the keyboard) has grown into a prominent industry voice, thanks to a stellar team of top analysts and digital experts from inside and outside the Lufthansa Innovation Hub.
TNMT's research and charts have been picked up across the industry, including the Financial Times, Bloomberg, and New York Magazine. But with increased visibility comes greater responsibility.
We acknowledge that not all our hot takes in the past have stood the test of time, and the weight of tens of thousands of eyeballs each week is something both thrilling and humbling.
As we look ahead to the next six years, we find comfort in our guiding mantra: to ensure this newsletter remains informative but also enjoyable to read.
We promise to avoid the PR-polished, committee-approved marketing tone that plagues so many (corporate) newsletters out there.
Expect us to stay uncensored, as always 💪. | | This being said, we always want to get better.
If you have suggestions or thoughts for us, don't hesitate to hit "reply." We read every message we receive.
Now, self-bragging aside, let's dive into today's content: - We (finally) jumped back into the world of air taxis and eVTOLs.
- We experiment with an unconventional approach to spotlight the major trends impacting our sector in 2024.
- We unpack new cross-border insights from Asia's travel industry.
Enjoy. | | | 📈 The TNMT Newsletter is brought to you by the Lufthansa Innovation Hub's Intelligence Team and Lennart Dobravsky from Research+Attitude. | | Navigating the 2024 Advanced Air Mobility (AAM) Landscape | | No topic has arguably sparked more imagination and media buzz in the world of Travel and Mobility Tech over the past ten years than air taxis, also known as eVTOLs or Advanced Air Mobility (AAM) to use the more technical industry term.
For a long time, we have been closely following every development in the emerging AAM sector.
In 2021, this culminated in producing major research reports like: However, during 2022 and 2023, we scaled back our research focus on AAM.
Our enthusiasm for the topic never waned, but we noticed a mismatch between the accelerating hype about new prototypes, test flights, and speculative market predictions and the actual market realities.
This view further cemented itself, especially as the economic environment in 2023 led to a de facto freeze in venture capital funding for ultra-long-term, capital-intense hardware projects without a clear path to market entry (and profitability).
In short, with eVTOLs moving into a phase of disillusionment and reality check, as we explored in our Hype Cycle Analysis, we turned our attention to other promising areas within Travel and Mobility Tech, including: But now, as we fully edge into 2024, our outlook on the AAM market is becoming more bullish again.
In fact, we believe 2024 could be the year when the vision of AAM starts to crystallize into something more tangible.
The idea of quickly flying over traffic jams and booking regional air-taxi rides seems to be (finally) getting closer–this time for real. | | | The AAM Revival: Four Signs of Takeoff | | There were essentially four major developments in the AAM sector in recent months that have reignited our research interest and convinced us that it's time to dive deep into this market once again.
Learn more about these events in our full article on TNMT right here.
Motivated and inspired by these events, we're excited to launch an extensive research series into the AAM landscape, which will last for at least the next six months, starting today!
Our goal?
To truly analyze the state of AAM in 2024, meaning decoding the sector's readiness for commercial eVTOL operations and pinpointing areas that still need further development for the industry to truly take off.
To achieve this, our lead analyst on sustainable aviation and AAM, Kolin, crafted a new research product that we coined the Advanced Air Mobility Readiness Radar.
It's a comprehensive yet pragmatic framework designed to evaluate the industry across multiple dimensions. | | | Unveiling the AAM Market Readiness Radar | | | The tool is structured around eight key dimensions, each a critical pillar in assessing the industry's preparedness for launching commercial AAM services in the future.
These dimensions are evaluated on a scale from 1 (indicating areas needing significant work) to 5 (signifying readiness for commercial operations).
Here is what this looks like: | | Over the next few months, we'll dissect each of the eight dimensions based on the current landscape in 2024.
To provide valuable insights into the AAM industry's evolution right away, our radar visual already encapsulates scores from recent years–see below.
This historical perspective allows us to trace the industry's trajectory, highlighting significant advancements as well as persistent challenges. | | As evident from the preliminary scores, the AAM sector has indeed made strides in various areas; however, it remains in the early stages across most dimensions.
Where is the industry moving to in 2024? Let's find out together.
In every second TNMT Newsletter going forward, we will reveal the scoring (and our analysis behind it) for each dimension one by one. | | Spotting 2024's Top Travel Trends with GenAI | | As we step into the new year, the question on every travel brand's strategy team's mind is:
What major trends will drive innovation in Travel and Mobility Tech in 2024?
It's a speculative endeavor, with most turning to the plethora of industry trend reports released each January.
These reports, varying in quality and depth, come from numerous media houses and companies, each offering their take on the future of travel.
Rather than combing through each report, our creative mastermind, Tino, opted for a more unconventional approach: - He turned to ChatGPT to help him analyze twelve of the most credible business travel trend reports from industry giants like Amadeus, SAP Concur, Deloitte, Travelport, and many others.
- His goal was to distill the key macro trends that these sources collectively forecast for 2024 as most impactful.
The result?
A high-level meta-analysis reveals that five key trends are poised to shape the travel industry the most this year. | | The trends identified through this approach are perhaps expected but nonetheless critical to understand: - Sustainability remains at the forefront, with all twelve reports highlighting the urgent need for more eco-friendly travel options.
- Blurred Travel, the convergence of leisure and business travel, ranks as the second most commonly referred trend, reflecting the ongoing evolution of work-life integration.
- Rising Travel Costs, influenced by economic factors and demand patterns, signal a need for smarter, value-driven travel solutions.
- The impact of Generative AI on travel, from customer service enhancements to operational efficiencies, underscores the technology's growing influence.
- Last but not least, Traveler Safety, especially in light of increasing geopolitical tensions, has become a top concern, emphasizing the importance of security and peace of mind.
These shifts, while by no means new trends per se, might offer a valuable overview of the forces at play in the travel industry.
Airlines, in particular, might find this ranking useful as a strategic guide to navigate and innovate within the corporate travel landscape, ensuring their offerings align with these overarching themes.
By the way, if we had to recommend one report as the best, we would say it's the one from Travelport, given its focus on data, depth, and powerful "So-whats"—all factors we highly value. | | Exploring Asia's #1 Community-Driven Travel Platform | | In our latest TNMT Newsletter, we took a deep dive into the vibrant innovation landscape of Asia's Travel and Mobility Tech ecosystem.
From revealing the top 50 startups shaping the future of travel in Asia to analyzing the shift in funding dynamics, our coverage offered insights into the evolving tech scene.
One highlight included a glimpse into a cashless day in Shanghai, showcasing the seamless integration of digital payments in everyday transport. | | | Exploring Another Hidden Champion | | Today, we shift focus to a remarkable player in the Chinese travel-tech ecosystem: Xiaohongshu, also known in the West as "Red."
For those unfamiliar with Red, it's time to lean in. - Red has rapidly become a go-to travel booking tool for Chinese travelers, particularly those venturing to Europe.
- Its unique charm lies in the community-based review platform it offers, where travelers and influencers alike craft engaging, dynamic travel content.
| | | Uncharted Territory For Airlines | | Despite its popularity and effectiveness, it's surprising to find that almost all Western travel brands, including airlines, have yet to make their debut on Red. - This oversight represents a significant missed opportunity to tap into China's burgeoning middle class and connect with younger generations in meaningful ways.
- Red presents a fresh avenue to sell upgrades and ancillaries through interactive content formats, especially video, pointing to a new direction in travel booking.
Curious to see Red in action?
Our voice on the ground, Xiaowei, has prepared another quick video walkthrough of Red's functionalities, providing a firsthand look at why this platform could be a game-changer for travel brands aiming to capture the attention of Chinese travelers.
Check out the video below. | | Our Recommended Must Reads | | M&A FOR SEAMLESS TRAVEL – Travel technology company Amadeus is set to buy Vision-Box, a biometric solution provider for airports, airlines, and border control customers. Amadeus says it will now be able to deliver "a full end-to-end seamless passenger experience".
 Read more by Airport Technology | | FUTURE AIRLINE OPERATIONS – A new report delves into the critical operational aspects of airlines, exploring radical technological changes revolutionizing key operational areas like the Aircraft Turnaround, Flight Planning, and Baggage Management.
Read more by OAG | | NETFLIX & TRAVEL – The French government joins forces with Netflix to attract tourists. How? The video platform is launching a tourist guide promoting the filming locations of movies and series produced by Netflix across the country.
Read more by the Le Monde | | NETFLIX & TRAVEL PT. II – If you subscribe to a Netflix plan that includes advertising, you may be seeing an Expedia advertisement on your favorite viewing device soon. That's because Expedia Group became Netflix's first global partner in its ad-supported plan.
Read more by Skift | | TRUE MEGA TRENDS – Former Bloomberg columnist Nat Bullard with his annual presentation on the state of decarbonization told with climate, capital markets, technology, and sector data. A coherent view of the future begins with the clearest possible view of the present.
Read more by Nat Bullard | | Most Recent Investment Deals | | | – VC –
Bilt Rewards - The New York-based loyalty platform for rent payments secured a $200M investment led by General Catalyst, with participation from Eldridge, Left Lane Capital, and others. The money will help expand its Bilt Rewards Alliance and Neighborhood Rewards program. The company also plans to experiment with mortgage payment rewards.
Kore.ai - The Florida-based conversational and generative AI platform raised $150M of funding led by FTV Capital, with participation from NVIDIA, Vistara Growth, and others. The funds will be used to fuel growth.
Heart Aerospace - The Swedish hybrid-electric airplane maker raised $107M in a Series B round led by United Airlines Ventures, Air Canada, and Sagitta Ventures, with participation from EQT Ventures, Norrsken VC, Y Combinator, Breakthrough Energy, Lowercarbon Capital, and the European Innovation Council Fund. The money will help fund the journey to type certification of its ES-30 aircraft.
BluSmart - The Indian all-electric ride-hailing startup raised $25M from the Swiss impact fund and ResponsAbility to help expand its EV charging infrastructure.
Transreport - The UK-based passenger assistance system for disabled travelers raised $12M in a funding round led by Puma Private Equity, with participation from Pembroke VCT. Hitherto partnering exclusively with train operators, the funding will enable expansion into aviation.
Naboo - The French corporate offsite booking platform raised $8.1M from investors including ISAI, Kima Ventures, Better Angle, and others. The funds will be used for feature development, including AI integration, and European expansion.
Joyned - The Jerusalem-based social planning and booking tool raised $8M of Series A funding led by Reach Markets and Sentor Investments, with participation from Velocity Ventures. The funds will help accelerate expansion.
Boomerang - The Miami-based lost and found platform raised $4.9M in a seed round led by LightShed Ventures, with participation from numerous others, including celebrities like Drake. The investment will help scale growth.
The Adventure People - The UK-based adventure and tours company secured a "multi-million-pound investment" from its existing shareholders, which will be used for tech development and hiring.
Movingdoors - The Cyprus-based serviced apartment booking platform raised a $1.1M seed round led by Uni.fund. The funds will help strengthen its leading position in Cyprus as well as enable expansion into the Dubai market.
Bookingjini - The Indian travel tech startup, offering to help hotels increase direct bookings and manage reputation, raised pre-Series A funding of an undisclosed amount led by Inflection Point Ventures. The funds will be used for product development and customer acquisition.
– M&A –
Vision-Box - The Portugal-based biometric solutions provider for the aviation industry was acquired by Amadeus for $349M, adding border control solutions to the travel giant's portfolio. The deal is subject to regulatory approval.
Visit Group - The Swedish tourism packaging and distribution company announced a $109M strategic growth investment from PSG Equity, giving the latter a majority stake in the company. The funds will primarily be used for growth in the Nordics as well as expanding the range and depth of its solutions.
Easyway - The generative AI-powered guest messaging platform was acquired by fellow Tel Aviv-based Duve, a guest experience platform, for an undisclosed sum. The deal doubles down on Duve's vision to use AI to improve the guest experience.
Frontdesk Anywhere - The San Francisco-based cloud hotel management software company was acquired by Prague-based hospitality cloud company Mews for an undisclosed amount. The acquisition, Mews' third in the last 365 days, represents the company's further commitment to growing its presence in the North American market. This is Mews' sixth consecutive year with at least one acquisition.
HeyPluto - The AI SMS marketing platform was acquired by New York-based hospitality marketing and operations platform SevenRooms for an undisclosed sum. This is SevenRooms' first acquisition and expands the ways its customers can connect with their guests.
Micerate - The German developer of a dynamic revenue management tool for hotels and event locations was acquired by San Francisco-based revenue management platform Duetto for an undisclosed sum. The deal signals a focus on strengthening Duetto's presence in the groups and events sector.
Park N' Fly - The Atlanta-based near-airport parking owner/operator was acquired by Chicago-based The Parking Spot, for an undisclosed sum. The deal brings The Parking Spot's presence to 28 airports with over 100,000 parking spaces. | | | |
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