Most news and media outlets have spent thousands of words breaking down the millennial generation – the group aged 21 to 35 – and for good reason. As the fastest growing consumer demographic, and one that is spending at a breathtaking pace, businesses in every industry are coveting this high-potential market. Already, the demographic spends nearly $600 billion a year, equivalent to almost a third of all daily-per-person expenditures.

The trend has spread to almost every major consumer-facing industry, including the luxury goods market, real estate, technology and retail.

Millennials are also travelling more, even matching retirees as one of the largest demographics spending money on trips and bookings. Some experts have noted the importance of this generation to the travel industry, but it seems that the rest of the sector has been slower to modify their offerings to fit this burgeoning consumer group’s demands.

The travel industry has become defined by a few major names at the top of the tree, and a strong centralization of power and processes, which results in disadvantageous prices and deals for consumers alongside fewer choices.

Even trip planning has its challenges thanks to websites like TripAdvisor which are said to be negatively impacted by their centralization and more archaic monetization model.

In the case of TripAdvisor, its website ranking algorithm is easily rigged by companies looking for a boost in foot traffic, something that detracts from millennial searches for a more personalized recommendation and experiential travel. Moreover, it is far from the only provider with such issues.

Booking sites like Expedia and Kayak assess fees at every point of their supply chain, charging disproportionately high rates and transferring most of the costs to consumers. This increasingly runs counter to the preferences of millennials, which include more personalized services, experiences over products and added flexibility.