Year In Review 2024, Looking Ahead To 2025, Part 2
New years always begin with such anticipation while we end each year with a tinge of nostalgia, a mood of reflection and sometimes, a sigh of relief that another year is over. Well, this is it – we’re coming to the end of 2024 and as we wind down for what was yet another tumultuous year, it’s time to look back, be grateful for the good things that happened and take the bad in our stride and move onwards and upwards.
As part of our annual tradition, we asked our friends what they thought of 2024 and what they are looking forward to in the new year. Here’s the second instalment.
Ethan Lin, CEO & Co-founder, Klook
Looking back – one word to describe 2024
Transformative. This year marks a significant milestone not just for Klook but also for myself as an individual. As I reflect on our 10th year, I’m proud of our achievements and the transformation we’ve driven in the travel industry, the economy and communities.
One word you wish would disappear from the vocabulary
Regret. With every setback, there is an opportunity to learn and improve. Rather than dwell on past mistakes, I take the learnings and continue moving forward
On a scale of 1-10, rate how optimistic (10 being most) do you feel about 2025?
10 – Over the past few years, we’ve focused on understanding the next generation of travellers, enhancing our offerings, integrating AI, and leveraging social media to connect with millennials and Gen Zs. Our recent report with Oxford Economics revealed that Klook contributed $7.2 billion to APAC’s GDP and supported over 219,000 jobs in 2023. This solid foundation positions us to push even more boundaries in 2025, building on our scale and reach to make meaningful change and shape the future of travel.
Looking forward – one word to describe 2025
Upward. Looking ahead, there is a great sense of growth and anticipation for what is to come. In 2024, we introduced seamless booking capabilities in partnership with social media platforms, launched initiatives to champion sustainability and animal welfare, and created once-in-a-lifetime experiences for travellers. But this is just the beginning, and we’re ready to take things to new heights in 2025 with even more passion, innovation and grit – the possibilities are endless.
What are you most looking forward to?
I’m excited for 2025 as Klook enters its ‘teenage’ years – an era for bolder ideas and greater risk-taking. Pushing boundaries has always been at our core, and I’m especially looking forward to the continued innovation in how we redefine travel.
One example is our Kreator programme, which has grown to a community of more than 20,000 across 14 platforms in a mere few years. With evolving social media trends and new integration capabilities, we’re investing more in growing this community of authentic voices to help travellers discover and book travel experiences in exciting new ways.
What’s the one key thing you’re doing to prepare your business for whatever lies ahead?
We’re focusing on flexibility and adaptability, two key lessons from the pandemic. In a fast-changing industry like travel, our ability to pivot quickly is crucial. We’re investing in technological tools like AI, expanding our team’s skill sets and fostering a culture of innovation to stay ahead of the curve.
What is the biggest opportunity for your business in 2025?
Social commerce. It’s been slowly brewing in Asia, however in the last year we’ve seen leaps and bounds in what we can do in this space, and this opens up so much potential for closer collaboration with our partners and content creator community.
What part of your job would you like to do more of in 2025?
Mentoring the next generation of change-makers in the travel industry. Having walked a similar path a decade ago, I resonate deeply with their journey. It’s incredibly fulfilling to not only help guide and inspire them, sharing insights from my own experiences that can support their growth, but also learning from them about fresh perspectives and challenging traditional ways of working.
What’s the most interesting thing you read or watched in 2024?
Inside Out 2 – Joy from Inside Out is actually one of my favourite characters, and the second movie explores all the complex emotions that come with growing up, which strikes home with Klook crossing the 10-year mark.
What’s the trip you want to make in 2025 to add to your memory bank?
Tomorrowland Winter in March 2025, a combination of electronic music, snowboarding, and skiing in the picturesque Alpe d’Huez
What’s the biggest problem the travel industry has yet to fix?
Overtourism remains one of the biggest challenges, especially in balancing exploration with the preservation of local culture. Addressing this requires a collective effort across the industry to build better infrastructure and promote lesser-known destinations, allowing travelers to discover new places beyond the typical hotspots. It’s a long-term effort, but necessary for sustainable travel.
One important trend that no one is talking about yet
While we often hear about AI’s potential to replace jobs, the real impact will be its ability to automate routine tasks, ultimately increasing productivity and freeing up time. This will give people the freedom of time and flexibility to travel. We’re already seeing this trend in the US and it will quickly shift to fully unfold globally. I believe AI will not only reshape industries but also how we work, live and travel.
A buzzword that will disappear this time, next year
Travel recovery. We’ve seen travel bounce back over the past few years, and by next year, the sector would be talking about growth and not recovery.
Caesar Indra, President, Traveloka 
Looking back – one word to describe 2024
“Growth”. We’re proud to be in growth mode, delivering double-digit topline growth for two consecutive years. Profitability is a hygiene factor for us, but our focus remains on expanding our customer base and enriching our product offerings. This year, we entered the Australian market, which has already shown promising growth.
One word you wish would disappear from the vocabulary
“Overtourism”. While it highlights a real issue, the term risks oversimplifying tourism’s complexity and shifting focus away from solutions. A more constructive focus on “regenerative tourism” can spotlight approaches that actively support the wellbeing of destinations and their communities.
On a scale of 1-10, rate how optimistic (10 being most) do you feel about 2025?
I’d give it a solid 9. The opportunities are immense – from Traveloka’s plans for market expansion and tech innovations to the industry-wide focus on sustainability.
Looking forward – one word to describe 2025
“Transformation”. The year ahead will redefine how travel experiences are conceived and delivered, driven by the transformative power of AI and innovative travel solutions. The industry is shifting toward creating journeys that are deeply personalized and meaningful.
What are you most looking forward to?
I am most excited to expand Traveloka’s market reach to serve more customers where we can deliver the greatest value, especially within APAC, where intra-regional travel trends present significant opportunities.
What’s the one key thing you’re doing to prepare your business for whatever lies ahead?
Execution discipline is our focus – strengthening meaningful partnerships, leveraging AI to drive innovation, and staying relentlessly committed to putting customers first.
What is the biggest opportunity for your business in 2025?
Expanding Traveloka’s reach beyond Southeast Asia to even more markets in APAC. The region is home to some of the fastest growing markets globally with a large and rapidly growing digitally native middle class, and I’m excited about the value we can bring to more customers as we grow.
What part of your job would you like to do more of in 2025?
I’d like to engage more with our partners and destination communities. Travel is fundamentally about relationships, and understanding the needs, aspirations, and challenges of those shaping these experiences is invaluable. By strengthening these connections, I can advocate for initiatives that drive mutual growth and last value for our ecosystem.
What’s the most interesting thing you read or watched in 2024?
The most interesting thing I watched in 2024 was the Netflix documentary series Live to 100: Secrets of the Blue Zones. The series dives into the lifestyles and cultures of communities around the world where people consistently live well into their 90s and 100s. It’s a fascinating exploration of how factors like diet, social connection, and purpose contribute to longevity.
For someone in the travel industry, the series is particularly inspiring because it highlights the unique characteristics of these destinations and the life-enriching experiences they offer. It reinforces the idea that travel can be about more than seeing places – it can also be about learning ways to live better and more meaningfully.
What’s the trip you want to make in 2025 to add to your memory bank?
I’d love to take a fishing trip with my children. Fishing is about more than just catching fish. It offers a blend of adventure and serenity, in the perfect environment to teach kids about the importance of conservation and respecting nature.
What’s the biggest problem the travel industry has yet to fix?
The biggest challenge remains balancing growth with sustainability – not just environmentally but socially. The rapid pace of expansion can strain ecosystems and communities. The shift toward regenerative tourism is vital, where travel actively restores destinations and uplifts communities. Collaboration across governments, businesses, and travellers is critical to redefining success in tourism.
One important trend that no one is talking about yet
The rise of “silent travel”. As life becomes noisier, there is a growing interest in quiet, introspective experiences that align with wellness and mindfulness. This trend could reshape how we think about destinations and activities.
A buzzword that will disappear this time, next year
“Revenge travel.” While it captured the post-pandemic surge in demand, the term feels outdated as the industry shifts towards intentional, high-quality travel.
Michael Dykes, Vice President, Market Management, Asia Pacific, Expedia Group
Looking back – one word to describe 2024
Affirmation
One word you wish would disappear from the vocabulary
Crisis
On a scale of 1-10, rate how optimistic (10 being most) do you feel about 2025?
8
Looking forward – one word to describe 2025
Differentiation
What are you most looking forward to?
Targeting new customer types across the Asia Pacific region leveraging our portfolio of brands.
What’s the one key thing you’re doing to prepare your business for whatever lies ahead?
The basics: brand differentiation, growing traffic, conversion, and attach.
What is the biggest opportunity for your business in 2025?
Expanding our reach and offerings in markets across Asia Pacific, tapping into the growing middle and mass-affluent classes and their desire to explore the world.
What part of your job would you like to do more of in 2025?
Influencing product – as a travel tech company, our core value is our technology – and as an advocate for travelers in APAC, making sure that product is meeting traveler needs is exciting.
What’s the most interesting thing you read or watched in 2024?
READ: “Organizational Culture and Leadership” by Edgar Schein
WATCH: “KinnPorsche, The Series” Thai BL drama centered around an organized crime family
What’s the trip you want to make in 2025 to add to your memory bank?
Machu Pichu is currently top of the list.
What’s the biggest problem the travel industry has yet to fix?
“Lack of serendipity”. Overtourism has in part been driven by social media and just following the crowd. Do you know that 80% of travelers visit just 10% of the world’s tourist destinations! Through globalization, there is a homogenization of culture – reducing differentiation. Social media and the wisdom of the crowd drives us to the same destinations and restaurants. Risk/reward curves are both being flattened in the process.
One important trend that no one is talking about yet
The rise of all-inclusive travel. Since 2019, the all-inclusive demand on Expedia and Hotels.com has grown by 70% and the average daily rate (ADR) by +40%. (Greg Schulze’s recent byline on the topic)
A buzzword that will disappear this time, next year
Metaverse. While the concept had potential, the hype was undermined by low real usage and then overwritten by generative AI. The focus may shift towards more specific and tangible applications of immersive technologies within travel, such as: AI-powered travel guides, gamified travel experiences, augmented reality, etc.
Tan Bee Leng, Chief Commercial Officer, The Ascott Limited
Looking back – one word to describe 2024
Unlimited
One word you wish would disappear from the vocabulary
Impossible
On a scale of 1-10, rate how optimistic (10 being most) do you feel about 2025?
8
Looking forward – one word to describe 2025
Growth
What are you most looking forward to?
A year of pushing even more boundaries of growth, both personally and for the business.
What’s the one key thing you’re doing to prepare your business for whatever lies ahead?
Fostering adaptability. Keeping abreast of industry trends, being agile with ways of working, and above all, maintaining an openness to learning and improving, so as to prepare our business for whatever the climate ahead presents.
What is the biggest opportunity for your business in 2025?
Loyalty. Ascott’s loyalty programme, Ascott Star Rewards, was launched in 2019 and since then, we have seen a very encouraging year-on-year growth of 40% in members annually. Over the course of 2024, we have been working on elevating the programme, providing ‘money can’t buy’ experiences for our members. We have made great headway with this, especially since being appointed as Chelsea Football Club’s Official Global Hotels Partners. Loyalty is a key driver of growth for our business, and we look forward to driving this segment as we continue to expand into more destinations, making more of our brands available for our guests to experience globally.
What part of your job would you like to do more of in 2025?
Innovation has been a big part of what I do in my role as Chief Commercial Officer at Ascott. Whether it’s in pushing for technological innovations, seeking new opportunities for productivity, or simply looking at ways to curate new brand experiences for our guests. And with this, I’d like to create even more space for innovation in 2025, more space for myself to push boundaries with ideas, more space for my team to explore new possibilities.
What’s the most interesting thing you read or watched in 2024?
Watching the Chelsea vs Aston Villa match ‘live’ at Funan Mall in Singapore alongside global football legend Gianfranco Zola, and hundreds of Chelsea fans and Ascott Star Rewards members. Ascott brought Chelsea Football Club’s global fan tour – The Famous CFC, to Singapore as the event’s presenting partner. Chelsea’s 3-0 resounding win gave us a perfect close to the event. When everyone shows up together playing on the same side, united by a common goal – magic truly happens!
What’s the trip you want to make in 2025 to add to your memory bank?
London
1) Rebranding of The Cavendish Hotel under The Crest Collection. Every property under The Crest Collection unlocks a unique heritage story, and I’m excited for my family and I to experience what The Cavendish Hotel will unveil, when the rebranding is completed in 4Q 2025.
2) Rebranding of the Chelsea stadium hotels to lyf Stamford Bridge London by second half of 2025. With a large proportion of football fans and great supporters of the EPL, I’m also looking forward to new opportunities to bring exclusive football experiences to our ASR members all over the world. This is especially since Ascott was appointed Official Global Hotels Partner of Chelsea Football Club in July this year.
What’s the biggest problem the travel industry has yet to fix?
Manpower challenges. With the strong growth that the travel and tourism industry is facing, there is a crucial need to cultivate a strong talent pipeline, while training and equipping our existing workforce with the necessary skills to remain competitive in this changing landscape. Supporting productivity as a first step at the workplace, Ascott launched a generative artificial intelligence (AI) powered web chatbot, Cubby, earlier this year. Designed to enhance the travel stages of planning and booking as part of the guest journey, Cubby is equipped to provide travel insights and address common travel queries, thus freeing up work hours to allow associates to focus on more strategic and creative tasks.
One important trend that no one is talking about yet
Micro-Sabbaticals.
This trend is about recalibration of travel experiences. Today’s affluent travellers aren’t chasing ego-driven indulgence. Instead, they seek substance, subtlety, and spaces where genuine care and authentic connection take centre stage. These can be short, purposeful breaks designed to recharge, refocus, and pursue personal growth with immersive, short-term experiences. Focusing on personal growth, wellness, or skill-building with connection to local culture, nature, or community.
This is also one trend that Ascott’s flex-hybrid business model effectively addresses. Examples include digital detox retreats, creative workshops, outdoor adventures, language immersion programmes, and mindfulness escapes. With a portfolio of brands that can offer different brand experiences across various typologies as well as accommodation types – from select to full-service hotels, and serviced residences to resorts, Ascott’s portfolio of properties can play to the demands of our guests, no matter the travel intention or length of stay.
A buzzword that will disappear this time, next year
Work-from-home. As hybrid work evolves and personal travel priorities shift, the focus is moving toward “work-life integration” or “remote workcations” — longer stays that blend work with deep cultural immersion, wellness, or personal growth
Rod Cuthbert, Founder, Viator
Looking back – one word to describe 2024
Scary
One word you wish would disappear from the vocabulary
Cancelled
On a scale of 1-10, rate how optimistic (10 being most) do you feel about 2025?
4
Looking forward – one word to describe 2025
Scary
What are you most looking forward to?
Travelling!
What’s the one key thing you’re doing to prepare your business for whatever lies ahead?
Finding ways to take advantage of AI
What is the biggest opportunity for your business in 2025?
Finding ways to take advantage of AI
What part of your job would you like to do more of in 2025?
Listening
What’s the most interesting thing you read or watched in 2024?
Civil War, the movie
What’s the trip you want to make in 2025 to add to your memory bank?
Kyiv (in a free & peaceful Ukraine)
What’s the biggest problem the travel industry has yet to fix?
Overtourism
One important trend that no one is talking about yet
Travellers are choosing the experience first, then booking flights & hotels later
A buzzword that will disappear this time, next year
Cancelled
Kerry Healy, Chief Commercial Officer, Middle East, Africa& Asia-Pacific, Premium, Midscale & Economy at Accor
Looking back – one word to describe 2024
UNPREDICTABLE. What a year we have witnessed across the Middle East, Africa, Asia-Pacific (MEA APAC) region. 2024 has been full of extraordinary challenges – political unrest in the middle east, economic pressures in Egypt and Turkiye and environmental crises with earthquakes in Japan, cyclones in Australia and Mpox outbursts. Looking back, I realise there were only two months of the year that felt relatively stable, and yet, through uncertainty, we found strength as a team, adapting to a year where stability felt like a rare moment rather than the norm.
One word you wish would disappear from the vocabulary
DISRUPTION – not everything needs to overhaul an industry, true disruption often happens when companies are busy solving industry problems. Innovation is quiet, incremental and yet very valuable, particularly in the hospitality industry.
On a scale of 1-10, rate how optimistic (10 being most) do you feel about 2025?
8, we have a strong network across the region with a lot of hotels in the pipeline, which makes me look forward to a strong year ahead. We continue to strengthen our existing brands with the right partners at the right locations and constantly invest in them. We are investing more than ever in our people and our communities, ensuring we connect cultures and operate sustainably as a responsible hospitality group.
Looking forward – one word to describe 2025
I said this before, but again, FOCUS is key, this time we aim to go to the next level, taking our great efforts one step further to reach the 1% tier.
What are you most looking forward to?
We’ve spent the year reorganizing, and rebuilding our organizational structures for business growth, and now that we have the right people in the right roles, at the right locations, I am very much looking forward to seeing the achievements from our collective intelligence.
What’s the one key thing you’re doing to prepare your business for whatever lies ahead?
We have focused on not one, but three key areas to prepare for the future; transformation, automation and business intelligence, which will create efficiencies and improve our customer experience. All this will not be possible without investing and nurturing our people, who are at the heart of all that we do at Accor.
What is the biggest opportunity for your business in 2025?
I’m looking forward to the results that our commercial team will achieve, as well as the growth that comes from the augmented hospitality ecosystem, our ALL booking platform, and award-winning loyalty program, complemented by our strong partnerships with tourism boards, airlines, banks and or course our expansion into new locations.
What part of your job would you like to do more of in 2025?
I’ve said it before, it has to be, to travel more and meet with the team members and partners on the ground. People are at the heart of what we do and deliver, and happy customers come back more and refer more!
What’s the trip you want to make in 2025 to add to your memory bank?
There are so many trips to choose from, I know I’ve said it before, but again, since I haven’’t had the chance to go as yet, it’s Africa, a vast continent that I would love to visit, with its immense range of offerings. Being part of my remit, I’m looking forward to exploring all this exciting continent has to offer.
