Business Travel
Article | May 17, 2023
Embrace the opportunity in hospitality management careers. Make a difference in tourism to benefit businesses & explore rewarding pathways within sustainable hospitality and tourism industry.
Contents
1. Introduction
2. Current Trends in Hospitality Management Careers
2.1. Technology Integration in the Hospitality Industry
2.2. Sustainability and Environmental Consciousness
2.3. Personalization and Customization
2.4. Focus on Wellness and Health
3. Importance of Skill Development and Training for Hospitality Management Careers
4. Emerging Opportunities for Hospitality Management Careers
1. Introduction
Embarking on a career in hospitality management opens the doors to a captivating world of endless possibilities within a dynamic and continuously expanding industry. Whether aspirations are rooted in hotel management, restaurant operations, event planning, or tourism, the hospitality sector boasts a multitude of diverse roles and avenues to explore.
To embark on this exciting journey, a combination of formal education, practical experience, and a service-oriented mindset is paramount. By acquiring the necessary skills, forging connections with industry professionals, and staying attuned to the latest trends, one can strategically position oneself for a fulfilling and ever-evolving career in this thriving field.
2. Current Trends in Hospitality Management Careers
2.1. Technology Integration in the Hospitality Industry
The pandemic accelerated consumers' adoption of technology in hospitality industry, while hotels quickly embraced new tools like contactless check-in systems and branded applications. However, a significant digital skills gap persists among hospitality workers, with nearly one in three lacking necessary AI, machine learning, and content-driven marketing competencies. Trends in the hospitality industry presents a tremendous opportunity for individuals seeking a career in hospitality management.
Upskilling in digital roles highly sought after by hotel brands, such as digital marketing, cybersecurity, e-commerce sales, data analysis, social media management, mobile app development, and digital guest experience management, can pave the way for a thriving career in the industry. Combining a hospitality management course with specialized training in digital marketing or ICT equips professionals to excel in the digital hotel economy. As the hospitality industry continues integrating technology, skilled individuals with digital expertise will play a vital role in driving innovation, enhancing guest experiences, and staying ahead of the competition.
2.2. Sustainability and Environmental Consciousness
90% of employees believe that companies should prioritize positive impacts on the planet as much as they prioritize profits. Moreover, consumers are increasingly concerned about environmental issues. A survey among 72,000 Hilton guests revealed that approximately 33% preferred hotels with environmental and social programs, emphasizing the significance of sustainability.
(Source: ehotelier)
Therefore, many hotels embrace sustainable practices, leading to a global shift towards the low-impact hospitality industry. The rise of green hotels contributes to a more environmentally conscious sector and creates additional employment opportunities for hotel staff. The demand for specialized green skills, such as auditing, compliance oversight, and change management, further reinforces the need for specialization in this expanding field.
Sustainable hotels and eco-tourism offer a growing array of career options for individuals passionate about the environment, travel and hospitality sector. By pursuing a career in this sector, professionals can contribute to preserving the planet while capitalizing on the increasing demand for sustainability-focused services.
2.3. Personalization and Customization
Customers in today's market seek tailored experiences that cater to their unique preferences and needs, prompting hotels and hospitality businesses to prioritize personalized offerings.
The rise of technology has played a crucial role in enabling personalization at various touchpoints. From personalized welcome messages to customized recommendations based on guest preferences, hotels harness data and advanced analytics to deliver exceptional and individualized guest experiences.
This trend creates exciting opportunities for professionals seeking to excel in hospitality and tourism careers. Roles such as guest experience managers, data analysts, and CRM specialists are in high demand as businesses strive to provide personalized services to their guests. Additionally, expertise in customer relationship management (CRM) systems, data analysis, and guest profiling can significantly enhance career prospects.
By staying updated on emerging technologies, honing customer-centric skills, and understanding the importance of data-driven decision-making, hospitality professionals can thrive careers in hospitality industry that are focused on personalization and customization. Embrace this trend, and position yourself at the forefront of delivering unforgettable, tailored experiences in the hospitality industry.
2.4. Focus on Wellness and Health
The pandemic has led people to be health conscious, and therefore, they have started prioritizing it, resulting in the growth of people prioritizing health with massive US $1.7 trillion market. With an expected growth rate of 44% in 2022, wellness is the fastest-growing segment of the tourism sector.
With this explosion of consumer interest, hotel brands are expanding into the wellness space and acquiring reputable spa, wellness and fitness brands. Hyatt, for example, recently received Two Roads, Miraval and Exhale, and IHG acquired Six Senses.
For hotel professionals , this trend opens up a new potential career opportunity that combine expertise in the wellness area with skills relevant to the hotel industry. For those who are passionate about wellness and health and like the idea of a career in beautiful locations and settings, this might be the right pathway in the hospitality and management career.
3. Skill Development & Training Importance for Hospitality Management Careers
The hospitality industry is known for its focus on providing exceptional service and creating positive guest experiences. It is a people-oriented sector that relies on the skills and efforts of individuals to ensure customer satisfaction. Skill development is paramount in this industry as it encompasses diverse skills necessary for running a successful enterprise.
Hospitality is a deliberate and sustained effort to maintain mutual understanding between organizations and the public, adapting to market requirements. As one of the fastest-growing sectors in the global economy, the industry faces the challenge of
aligning its skills requirements with the evolving labor market.
With approximately 10% of the global workforce engaged in the tourism and hospitality-related industry, skill development becomes a crucial concern for every entity operating as a hospitality service provider.
Effective skill development programs and training initiatives enable professionals to acquire the necessary competencies to excel in their roles and deliver exceptional guest experiences. By investing in skill development and training, individuals in hospitality management careers enhance their abilities and adapt to changing customer demands. Continuous improvement in skills ensures that professionals meet guests' diverse needs and contribute to their organizations' success.
4. Emerging Opportunities for Hospitality Management Careers
The hospitality industry is rapidly growing and evolving, presenting exciting career opportunities. To adapt to changing dynamics, the sector emphasizes the importance of skill development and training. The global health crisis has acted as a catalyst for innovation and technology adoption, enhancing customer experiences.
Hospitality education has transformed to meet industry demands, ensuring a talented workforce with relevant skill sets. Aspiring students can explore diverse career prospects in hospitality, culinary entrepreneurship, revenue management, media, e-commerce, client servicing, lifestyle consulting, and health & wellness. Bespoke hospitality has expanded beyond traditional hotels, offering personalized experiences like luxury staycations, glamping, and high-end cruises. Culinary entrepreneurship thrives on creativity and unique dining concepts. The health and wellness segment is rapidly growing, focusing on improving customers' physical and mental well-being.
Media and technology play significant roles, with social media engagement, e-commerce platforms, and virtual experiences shaping the industry. Customer service, revenue management, and 'human' skills like critical thinking and communication are highly valued. Skill development is crucial for success in the ever-evolving hospitality field. Professionals who embrace continuous learning and stay abreast of industry trends will seize abundant career opportunities in this dynamic sector.
5. Key Takeaway
Careers in the hospitality industry offers various opportunities in hotel management, restaurant operations, event planning, and tourism. To succeed in this dynamic field, skill development and training are essential. Emerging trends such as technology integration, sustainability, personalization, and focus on wellness present exciting avenues for hospitality professionals.
Digital skills are in high demand as hotels adopt new technologies and emphasize digital marketing, cybersecurity, data analysis, and guest experience management. Sustainability is a growing focus, with green hotels and eco-tourism creating opportunities for professionals with auditing and change management skills. Personalization and customization are key as hotels leverage technology to deliver tailored guest experiences, requiring expertise in guest management and data analysis. The wellness industry is also booming, offering potential career paths for those passionate about health and wellness.
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Hospitality Management
Article | July 24, 2023
Corporate travel and expense management is one of the cumbersome challenges for CMOs. Travel expenses are the second-highest expense and one of the toughest to control. Getting the best price for a business out of bookings is not enough for a CMO to manage travel expenses. Instead, there are other challenging factors that challenge a company. What are these challenges? Brief information on it can help you identify what your company needs to fix upon to understand this.
Lack of data collection
No proper visibility into corporate travel spend
Lack of an organized corporate travel and expense management process
Proper policies
Lack of inventory-rich management system
No accountability to services under corporate travel and expense policy
Lack of technology usage
Lack of flexibility
Lack of a stable plan for create travel management strategy
Advanced corporate travel and expense management is one of the best solutions today to curb these challenges. So, how can corporate travel and expense management help CMOs succeed in business? Before finding it, a glimpse at the management’s ability and efficiency can help you understand more about it.
Corporate Travel and Expense Management: What Do You Need to Know?
Corporate travel and expense management today has become advanced after the pandemic hit. Today, it is integrated with cutting-edge features through software and is used for mobile and desktop applications. The applications such as spend control & reporting, quick and easy booking, automated expense & reimbursement solutions with receipt capture, back up analytics capabilities, live credit card feeds, and customizable real-time reports are included. All these are powered by machine learning and artificial intelligence.
While many CMOs agree that strategizing corporate travel and expense management is helpful to save costs. They emphasize this because their companies have already practiced advanced corporate travel and expense management. Other corporate expense management companies also implemented corporate travel and expense management. And they recommend incorporating advanced management to curb expenses. If you face challenges in organizing corporate expense systems, this is the right article to learn how to cope with challenges.
Corporate Travel and Expense Management: How should you go about it?
Corporate travel and expense management are set to soar up to $1.7 trillion by 2022 globally, right after the travel companies started investing. This indicates the right time for you to start strategizing corporate travel management and its expenses by following practical steps.
Consider Technology-based Solutions
Cloud-based corporate travel expense software can simplify your corporate travel management and travel-related expense policies. It leads the entire expense management process to a higher degree of competence. The automation of the corporate travel management process also makes employees easy to file expenses on time.
For example, TripActions is a leading corporate expense management company. It provides top software solutions for corporate travel and expense management. The company promotes technology and offer solutions that come with ease of use.
No Paper Checks
Modern corporate travel and expense management saves ample time by eliminating paper checks. Paper checks make the process tiresome, and there are high chances of error. It also leaves space for employee fraud, which results in tracing difficulty. Thus, paperless work reduces the chances of data tampering and save over-pricing possibilities. Your business can be profitable if you inculcate corporate travel expense software. You can find a list of top software online. Incorporating modern corporate travel and expense management solutions can curb expenses. Practicing the best practices for travel expense management can generate higher revenue for your company.
Set an Accountable Plan on Reimbursement
The reimbursement processes can turn easy with modern corporate travel expense management. The management can help to set an accountable plan and give access to a list of reimbursements. In this way, employees can claim the existing reimbursements in one go. Following this practice for travel expense management can organize all travel and expense management services in one place. And you will never encounter any corporate travel management challenges in the future.
Offer Flexibility
Employees are the happiest when they have freedom in their work and workflow. And because of this, you need to include a broad travel inventory. Modern corporate travel and expense management offers an inventory-rich system that allows various options to check employees' booking flights, accommodation, or car rentals. For example, Expensify provides a clear insight into the entire trip's actual cost to corporate travelers. Other corporate business travel management companies also implemented advanced corporate travel and expense management systems. And they are shaping the travel industry like other industries.
Choose the Right Software
In this, you need to choose the right corporate travel expense software for your business expense management. A corporate travel and expense management software includes features to manage corporate travel and expense policy, organize travel and expense management services, create a proper travel management strategy, manage corporate travel programs, and sets corporate travel management trips. Often, it appears impossible to organize trips that change. Corporate business travel management can help ease your employees’ load. Similarly, corporate travel and expense management software offers other features, such as:
It allows corporate travel managers to keep a proper view of employees traveling on a particular day
Budget tracking and travel policy tools through apps help simplify the process of business expense claims for employees as well as the finance team
Automated receipt submission reminders help employees to submit the reports on time
Ratings of travel and expense management services include car rentals, airfare, lodgings, and accommodation
Instant price comparisons
24/7 on the go support for managing a corporate travel program and expense management
Self-booking of business trips with the help of the travel booking management software
Seamless corporate travel expense reporting
Search about Software Compatibility
When including automation, you need to research corporate travel expense software's compatibility. When you consult a vendor online or in-person and understand software flexibility for travel bookings and transportation services, you can easily select according to your business requirements. By doing so, you tend to save a lot of time and deploy corporate expense systems faster.
Consider Setting up a Budget for Corporate Travel and Expense Management
For a company, the budget plays a pivotal role before setting up a new system. Questions like what kind of corporate travel and expense management solution you wish to invest in should also be considered if you want your company to succeed. Incorporating a corporate travel and expense management system involves a series of processes such as setup, installation, support, and customization. Thus, choosing the right software or tool is a crucial matter that compliments all budgetary solutions. Set up a budget, research which software can be beneficial to you, and incorporate it to exercise fast processes of your travel and expense management services.
Tips to Create a Successful Corporate Travel and Expense Management
While there are several solutions to corporate travel and expense management and you understood how to implement it, some tips can also lead you to be successful in business by introducing advanced travel and expense management services, corporate travel and expense policy, corporate expense systems, travel and expense management resources and more. Therefore, for this, you need to:
Educate employees and help them understand the technological aspects of advanced best practices for travel expense management
Set cost-saving strategies with the help of research on what other corporate expense management companies are implementing
Be resilient and open to suggestions from your employees
Consider integrating travel management strategies with an automated travel & expense management system. In this way, your company’s corporate travel and expense management will continue to function efficiently. As travel industry leaders are changing their strategies to stand out in 2021, it is time to end fretting over manual corporate travel expenses difficulties. With the help of a dedicated corporate travel management strategy, you can succeed in achieving the goals you set for the New Year in your company.
Frequently Asked Questions
What is Travel and Expense (T&E) Management?
To understand corporate travel and expense management, a few features are explained below:
Tracking of reports
Reporting
Costs management
Submission of receipts
Reimbursement
Clearing expenses
Management of corporate travel
Pricing
List of services
How to manage travel expenses in corporate?
To manage travel expense under a corporate travel and expense management system requires the following things:
Keep track of details
Submit expense report on time
Plan ahead
Organize data with details
Choose a suitable tool or software
Create a fast workflow
How to manage corporate travel and expense budget?
Some careful planning and thorough research on selecting the right tools or software can easily manage corporate travel and expense budget. With this, a business can get a closer insight into the planning of the budget, which results in building of a dignified corporate travel and expense management.
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Travel Technology
Article | May 5, 2023
Airports are embracing data and technology to improve the experience for both passengers and vendors. Such ‘smart airports’ where internet-connected devices control functions like thermostats and security using cloud-based technologies to enhance the consumer experience, are quickly becoming commonplace.
The Emergence of Smart Airports
Smart Airports were made to solve control and management problems that airports are having more and more of because of the number of people and goods that go through them. Because of this, experts from all over the world are focusing on smart airports, which use the latest developments in telecommunications, infrastructure, robotics, and the Internet of Things (IoT).
Advantages of Smart Airports
Real-time data improves operational efficiency.
Cost reduction, productivity improvement, and operational perfection.
Demand optimization through passenger flow control and entry automation.
Improved passenger handling, flight control, check-in, etc.
Biometric monitoring systems, advanced cyber security, and reliable operations and maintenance improve surveillance and security.
Better ground and health surveillance (cleaning frequencies, availability of amenities, etc.).
The Revenue Angle
A smart airport uses Wi-Fi access points as sensors to track passengers’ location and record their dwell times. With this data, the airport could place signs and ads where they would be seen. While landing travelers previously made few purchases, this airport placed signs for products they may want to buy before leaving where they would be seen. The result was increased sales for retailers and landside revenue for the airport operator. (Source: Deloitte Study)
Traveler’s & Airport Operations Experience
A traveler constantly interacts with technology systems and stakeholders during his journey through the airport. The smart airport systems influence the traveler’s safety, convenience, and overall experience at the airport. Operations like bag tracking, indoor navigation, in-store beacons, geo-fencing, queue analyzer, biometric screening, Wi-Fi passenger tracking, and building management systems are powered by IoT implementations that make an airport smart.
Creating a Smart Airport: The Checklist
A well-structured planning process can assist airport leaders in navigating all of the options and gaining confidence in achieving the airport's business objectives. The checklist includes the following steps:
Selecting an IoT solution that aligns with your business goals
Determine the organizational and technical abilities required to implement the solution
Craft a road map to address gaps between the required abilities and existing abilities
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Article | April 13, 2020
Just over a month ago, many of us sat in our offices, surrounded by colleagues, engaged in deep discussions about how best to leverage the increasing demand in travel this year. As per the World Tourism Organization's (UNWTO) forecasts from earlier this year, international tourist arrivals were expected to grow by 4% in 2020, which is not as great as the growth seen in 2017 (7%) and 2018 (6%), but it was still enough to continue fueling the tourism industry, which contributes to about 10.4% of the global GDP and approximately 319 million jobs. We were blissfully unaware of the looming threat of the COVID-19 global pandemic. In fact, several parts of the world failed to take notice of this crown-shaped virus that was about to bring everything to a grinding halt, until March 11, when the World Health Organization officially announced it as a pandemic.
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