Priceline More travelers are turning to generative AI to save time and money
Priceline’s latest study of travel trends and consumer data insights informs company’s upgraded Trip Intelligence suite
Results from Priceline’s latest proprietary travel study, conducted by The Harris Poll, reveal that travelers are spending more time planning trips, and that a growing number are ready to embrace new technologies like AI to streamline and accelerate all parts of the booking process. To enable travelers to save time and money, Priceline is introducing a significant upgrade and more than 30 new features to its AI-powered Trip Intelligence suite.
GenAI is the next travel superhero capability
Priceline’s research found that while many travelers enjoy the trip planning process, regardless of their generation and or life-stage, they’d prefer not to spend as much time on travel logistics. They’re also more inclined to use generative AI to cut time on trip planning. More consumers have a growing familiarity with generative AI and are receptive to using generative AI tools like Priceline’s Penny, the generative AI-powered travel assistant, to reduce time needed to research, book trips and customize or change itineraries.
The research also found:
- Travelers who are aware of Gen AI tools are hopeful that it will cut down on the number of steps it takes to plan and book travel:
-
- 73% say generative AI will cut down the number of steps it takes to plan and book travel
- 70% say generative AI will take the grunt work out of hunting down all the details needed for a trip
- 70% say generative AI will help find the best deal on a trip
- 65% say generative AI would make traveling so much easier and more enjoyable
-
- These numbers become even more pronounced amongst younger generations.
-
- Millennials are the strongest proponents of Gen AI overall, and eight in ten agree that it will cut down the steps needed to plan and book
-
We estimate that travelers who used Penny saved an average of nearly ten minutes per trip compared to those who called customer support. After a successful debut on our hotels platform, Priceline’s AI-powered travel assistant Penny now features even more GenAI capabilities, and is available sitewide to help customers save more time on their bookings across all products.
Planning a trip can feel more like work than play
Priceline’s research found consumers across different generations and life stages share a desire to spend less time on travel logistics. Respondents said researching and planning the ideal trip – especially one that balances the expectations of a diverse group – is a major pain point and can feel like a full time job.
- Overall, 22% of U.S. adults find that creating their trip itinerary is one of the most frustrating parts of planning and booking a trip.
-
- It takes the equivalent of two full work days, or 16 hours, to plan and book a trip.
-
- With Gen Z and Millennials, that number leaps an additional 30%+ to more than 20 hours.
-
- It takes the equivalent of two full work days, or 16 hours, to plan and book a trip.
-
- Many travelers say travel planning is unpleasant and right up there with a trip to the DMV (20% of adults).
-
- It’s a major stressor for Millennials, with 25% of them saying it’s more frustrating than filing their taxes or waiting at the doctor’s office.
-
- Younger generations report that travel planning is a growing, time-consuming issue, with 21% of Gen Z and Millennials stating they feel they spend too much time on the planning and booking phases.
-
- Compared to Boomers, Gen Z spends 67% more time researching hotels and properties that fit their needs.
-
Lower stress, a better trip and higher quality of life when travel planning is easier and faster
Across the board, travelers of all ages agree: less planning means less stress – and less stress means higher quality of life (and a better trip).
- Nearly half (47%) of adults say less time spent on travel planning and booking means less stress in life.
- 1 in 5 agree that spending less time on planning and booking would mean less stress in their relationships.
- Almost 40% of Gen Z believe less time dedicated to planning and booking would enable them to get into vacation-mode feeling energized, rather than starting their trip exhausted.
Many actually enjoy some of the travel planning process despite the time investment:
- 1 in 3 of U.S. adults say they enjoy the process of finding an amazing place to stay.
- 1 in 3 of U.S. adults also indicate that finding unique things to do during their trip is one of the most enjoyable aspects of trip planning.
Whether they want to ask Penny to help them quickly discover new destinations or to plan their whole trip with the click of a button with our new GenAI Itineraries, Priceline is providing travelers the tools they need to enjoy their travel planning and get to their happy places even faster.
Finding the right trip at the right price is still a top priority
Travelers have made it clear that they love saving time AND money and don’t want to sacrifice one for the other.
- More than a quarter of travelers expressed that the thrill of discovering the best deals is considered the most exciting part of booking a trip.
- And nearly a third of Gen Z travelers say that looking up travel ideas on social media is one of the most exciting parts about travel planning.
- Yet, 29% said that tracking and comparing flight prices proved most frustrating.
- Specifically, 37% said that making sure they found the most affordable option before they booked was a root cause of frustration.
Known for our best-in-class deals and helping customers prioritize what they value most, Priceline saves customers over $1B a year – that equates to over $2300 per minute! Our upgraded Trip Intelligence suite features even more tools to help travelers find their ‘happy price’. With the new Price Watch feature, users can track multiple flights to find the best fare and with the new Priceline Wallet they can manage all of their coupons and credits in one place to ensure they never miss a deal.
To experience the power of Penny and Priceline’s GenAI-enhanced Trip Intelligence suite, visit priceline.com/2024winterrelease. For additional press materials visit press.priceline.com.
