Speaking at the Phocuswright Europe conference in Dublin, Financiere Cambon partner Morgann Lesne said: “There is overinvestment and there is underinvestment (in the industry).

“Home rental is pretty overinvested pretty massively. I think it’s a very crowded market, there’s probably room for two or three (companies after a process of consolidation).”

Despite that, PROfounders Capital partner Sean Seton-Rogers maintained the travel industry remains an attractive market for investors as the margins remains strong.

He said he is also beginning to focus on new segments of travellers, adding: “What I am interested in is the ambient traveller, those that we can push data to to make their lives even easier.”

Seton-Rogers said this could take the form of using the travellers location to send them key information of what is in the immediate vicinity, whether it is restaurants or attractions.

“It is all about taking what’s meaningful and boiling it down.”

The panel also argued the corporate market remains ripe for investment, particularly those companies that are able to disrupt it.

And they added there is still plenty of venture capital money out there for companies that meet their criteria.