[00:08:15] Sally What I think is interesting to you, you just mentioned the festivals, Coachella and Stagecoach, is that when folks are traveling to these from the minute they step foot in the destination, it feels like the experience starts even before they even get to the main stage, whether it be their vacation rental or their hotel or just some of the things going on in the market that bring in the spirit of why they're traveling in the first place. What do you think hotels and vacation rentals or those partners can do to maximize the demand for these types of events? And also travelers today going to these events, what do they want? What is new and different that they're expecting when they're attending?
[00:08:53] Erin Sure. So I think tentpole events is something that AEG does really well. I mentioned the desert festivals in Indio, Palm Springs area with Coachella and Stagecoach. And we also have award shows that happen on our L.A. Live campus quite frequently, like the Grammy Awards and several others. I think building around those tentpole events and ways that we can work with the local market hotels, restaurants, travel companies, any type of local businesses, there's kind of two ways to do it. Companies like airlines, cruise lines, carloads of companies can really lean into this as well. The first kind of pillar that we would lean into is a partnership or a sponsorship, which is where I kind of sit at, brands can activate pop-up activations onsite at the festival grounds or even like when you're walking into the hotel, like create an experience for somebody or a vacation rental. But the important piece there is that they do have a partnership with the event in order to create that IP connection. So if it is a hotel brand and they are doing a pop-up at the festival activation that they've worked with, you know, call it Stagecoach to make sure that they can use their name in the appropriate manner. The other kind of way that we can set up a relationship is the B2B side, where companies like AEG can partner with the hotel brand to book all of the room nights for their staff and partners and clients that are coming out with a specific property or with a specific chain. Similarly, with an airline, if we do have a partnership with them on the business side, we can book all of our flights on that airline or all of our partner flights and the airline, whatever the case may be. So I think we can kind of approach it in two ways, but there is definitely success in both pillars.
[00:10:29] Sally I like the way you describe that, too, because it sounds like there can be a lot of creativity as well, so you can figure out what's going to work best for your brand, the audience you want to target. I just like the diversity of how you described all those partnerships.
[00:10:41] Brandon And it's always really obvious too, right, like when it's like a legitimate partnership where there's just a better feel to it. It feels authentic. And yeah, I mean, Coachella and Stagecoach, I think they may have passed me by. Sally, first off, you said people start preparing for Coachella when they step in, but forget the main stage. People start preparing for Coachella when they start buying outfits for Coachella or when they get cast on The Bachelor.
[00:11:05] Sally This is fair. This is fair. I mean, yeah. I mean, I only know because I follow everyone on Bravo, so I might have just let out too big of a secret there.
[00:11:14] Erin I do think that's interesting, Brandon, because we have a brand that leaned in heavily to the get ready for festivals kind of campaign because you're right. Like when people start when they buy their tickets, which is so far in advance of the festival, and this could be the same for any event that's taking place, the concert or whatever people get excited about, they do start planning ahead for the travel. Like how are we going to get there? What airline are we going to take? What hotel are we going to stay in? Are there discounts? What am I going to wear? Is there a retail partner of the event that I can lean into because it'll have the band's name or the event's name on it? All of those components kind of play a part. And we did have a brand that really bought into that. Like, hey, people, get ready to go places. Like they get to book their travel, they are ready for it. So can we start marketing to them in advance so that they are using us as part of their Get Ready campaign?
[00:12:05] Brandon It's really exciting and it's so interesting you say that because I think that the feeling that you get when you book that concert ticket or when you book that trip, especially with your friends, like it's electric. It's almost not as good as the event, but gosh, it like gets you through that rough Tuesday. And I know for Expedia Group, like we're rolling out trip awards, which allows you to plan in advance, you know, different stays. So it's live for vacation rentals that'll be going live on conventional lodging and just for trips in general across Expedia Group. And I think with events it's really the same thing. Like you have a group of friends. Some are going to be available are interested in those artists and like that feeling when you get that connection of like three or four friends or your wife or your family to book that ticket, like, it is an exciting moment. It's cool.
[00:12:51] Erin It is. It's really cool. And I think if I can take us back a little bit about what AEG does outside of just events, because what you're talking about right now, that lifecycle and that excitement like AEG, we are at its core. We're a real estate company. We own the buildings and the kind of the place where the events take place. But we also have the things that go through those buildings, right. So like the sports teams, the concerts that people get excited about, the festivals, the family shows, we also ticket for those events. And we manage the talent or own the teams that are playing in the buildings. So the fact that we can have you purchasing the ticket and getting excited about it, but then also control the experience of who you're going to see because we manage that artist in our global touring portfolio or own the sports team with, for example, the L.A. Kings. But then also we know that you're going to our building, so you're going to have a wonderful experience. It really creates that customized and unique experience that I feel like only AEG can do.
[00:13:52] Sally It's been really interesting listening to Erin talk about some of these unique customer experiences. And there was also a term surprise and delight that was thrown out there. And I think that's really powerful because in order to do that, you really have to understand your traveler. Who are they? What do they care about? And what will surprise and delight them? I know that at Expedia Group we're certainly trying to understand our traveler more. I know many other companies are doing that as well. I found it interesting when Erin was talking about lounge access or activations around loyalty programs. Brandon, I'm really curious to get your perspective there and the loyalty space.
[00:14:35] Brandon It's a great question. Loyalty is so much more than price points and perk benefits for travelers. If you think about the basis of a loyalty program, it's how you feel. Like how do you feel when you get recognized? How do you feel when you get upgraded? How do you feel when they do something to surprise and delight you to your point? And I think the lounge question is such a good one. Travelers, concert goers, people at a sporting event are all at different places in their life. There are times where you want to be sweating among the masses, and there are times that you're looking for a little bit of an elevated experience. And I think, you know, speaking about lounges specifically, it's a great way to really extend a travel based loyalty program to something that's outside travel, like a concert. They're adjacently related, especially with so many people traveling to a concert. So it was really cool to hear a little bit more on that. I know at Expedia Group that's something that we're focused on really generating better experiences overall and there's some exciting things with the launch one key that are coming. So looking forward to sharing more there.
[00:15:36] Sally And I think to Brandon, hearing you talk from a revenue management perspective, whether it be for an event or a lodging partner or a VR, partnering in this way really helps to create value, right, and drive your revenue strategy, but help the consumer understand the full benefit that they're getting. And surprise and delight creates long-term value as well. So lots of opportunities here. And it's been really fascinating to hear more.
[00:16:01] Brandon So much synergy. And, you know, as we see the pace of change with loyalty programs changing and the industry at large, there's going to be so much opportunity in this space. So I'm excited to look back in a year and see how we've seen events and, you know, loyalty playing and things like sporting events and concerts.