Philip Wolf, best known for establishing the PhoCusWright research and conference business, is always worth listening to. He’s been around, as they say, and is curently a board director of seven companies (despite claiming to be “retired”) including MakeMyTrip, Oktogo, Inntopia and TrustYou. Here are some of his thoughts from a recent interview session at WIT.
- Russia is hot right now. This sentiment was reiterated in several quarters, including Carlson Rezidor Hotels.
- Product. “One thing I’ve learned is that too many companies don’t have proper product management discipline.”
- The days of easy money are gone. In the early days, “all you had to do was be first or second in a marketplace and that was it. Not any more.”
- “The thing with entrepreneurship is that it can’t be taught.
- “Rentalcars.com – that is one hell of a business. Oh boy.”
- “Valuations are over-hyped right now but there is this meta-search catalyst.”
- Also over-hyped, he said, is last-minute travel. “It sounds sexy but we don’t do it”.
- Pegasus blew it. At one time central to hotel distribution, it now close to irrelevance.