Travel Technology
Article | May 5, 2023
Most people associate the term "blockchain" with cryptocurrencies such as Bitcoin, Dogecoin, or Ethereum. Blockchain is the technology behind cryptocurrencies, but it is also a technology in its own right that has many uses.
Blockchain is an immutable ledger that tracks transactions and assets, like cash and patents. All parties have access to the same data simultaneously, eliminating intermediaries and making it a cost-effective way to track assets. It could, for example, track a flight delay and automatically refund a customer’s money.
A German blockchain start-up Etherisc launched an insurance product, FlightDelay, which uses blockchain to automatically issue policies and execute payouts for flight delays and cancellations on around 80 airlines. Customers can buy policies with cryptocurrency and receive claims in cryptocurrency.
Flight delays are where blockchain-based insurance can make a difference in the travel insurance domain. Data on delays and cancellations is readily accessible, and all assist in automatic payments. This way, companies that offer flight insurance can avoid higher claims-processing costs and save on data protection costs because blockchain is secure.
U.S. Insurance Regulations Prevent Blockchain-based Travel Insurance
In the U.S, there is a need for state-by-state approval for changes in regulations. Blockchain’s appearance in the U.S. insurance industry may take another ten or fifteen years. However, the potential of blockchain-based insurance products is huge. Insurance companies can sell them at much lower costs compared to traditional insurance products.
Blockchain Can Change the Travel Insurance Business
Interestingly, the U.S. already has an insurance product similar to FlightDelay but none of them have the blockchain component. Called ‘parametric insurance’, an auto payout is done when some parameter is violated. Using blockchain technology to offer this insurance could save money and enable insurers to pass on some of the savings to the customers. Insurance industry experts think blockchain will definitely make a mark in the travel insurance domain and can change the way travel insurance businesses operate at large.
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Hospitality Management
Article | June 19, 2023
Bleisure travel has taken over the travel industry. It brings together two worlds—business and leisure—to make a work trip enjoyable for employees.
The concept of bleisure is simple. While on a business trip, employees choose to stay back at their own expense to explore the city or region they are visiting, if their company agrees.
According to Stratosjets, 243 million business trips (60%) of 405 million long-distance business trips in the United States are converted into leisure trips every year.
“As businesses are becoming increasingly global, the necessity to travel for business is on the rise. It is estimated that by 2022, companies will be spending a total of $1.7 trillion to send their employees travelling around the world. As business travel grows, so does the ‘bleisure’ trend with more employees taking advantage of business travel and improved travel policies.”
-Spokesman for Amadeus, the travel technology company.
Businesses that support this type of travel are seeing a steady increase in employee satisfaction, and increased productivity in professionals. Bleisure also brings higher revenue for bleisure-ready hoteliers.
How Does Bleisure Benefit Travel Businesses and Employers?
Driving Brand Loyalty
Travel companies and accommodation services can gain the attention of the next generation of travelers who indulge in bleisure. They can employ modern travel technologies to attract millenials and youngsters. Sharing economy services like Airbnb are shaking up the traditional hotel model. Adopting bleisure can make hospitality brands relatable, drive brand loyalty and higher revenue through the high acquisition costs of corporate travelers.
Boosting Employee Productivity
Employees worldwide want to achieve a better work-life balance. 78% of travelers said bleisure travel increased their well-being when they returned to work. (Source: TalentIntelligence). Happy employees translate to a lower attrition rate, fewer medical claims, higher productivity, and less absenteeism, making it a win-win situation for employers.
Combating Talent Shortages
Companies that address the needs of their staff through a flexible bleisure policy are more likely to attract the best and the most talented people. It could be the only offering that could make an employee choose a company over its competitors.
Preparing for Bleisure
To capitalize on the demand for bleisure travel, hoteliers should offer amenities and services such as:
A suitable workplace where business travelers can fulfill their work commitments
Child-care and kid-friendly amenities for travelers who bring their families along
A dedicated concierge service and ready local sightseeing recommendations
Employers offering bleisure to their employees need to do their due diligence. They must offer a comprehensive policy that ensures employee travel safety and is compliant with duty of care legal requirements.
Cutting to the Chase
The bleisure tourism market is estimated to reach a valuation of $497.5 billion in 2022 with sales skyrocketing at an impressive 19.5% CAGR over the assessment period (Source: Future Market Insights). The tourism market is looking at bleisure as an opportunity for growth while recovering from the pandemic. They are investing in direct marketing, sales, discounts, giveaways, events, and other promotional activities to attract bleisure travelers and endorsing bleisure as a way to attain their revenue targets.
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Hospitality Management
Article | July 18, 2023
Embrace the power of technology and revolutionize your hospitality business! Discover the latest trends in hospitality management software for enhanced efficiency and unforgettable guest experiences.
Staying ahead of the competition requires embracing innovative technologies in the rapidly evolving hospitality industry. Hospitality management software is crucial in streamlining operations, enhancing guest experiences, and boosting efficiency. This article will explore seven trending hospitality management software solutions that are revolutionizing the industry. From property management systems to guest experience platforms, these cutting-edge tools offer a wide range of features and capabilities.
1. TravelNet Solutions
TravelNet Solutions offers exceptional hospitality property management software, Track, which is designed to streamline operations and elevate guest experiences. At the heart of Track is its flagship property management system (PMS), a robust solution that efficiently handles all the back-office requirements, including trust accounting, automation, and housekeeping. What sets Track apart is its best-in-class hospitality customer relationship management (CRM) module. Its integrated system enables guest-related activity to link seamlessly with their record, eliminating the need for module switching or legacy record-keeping methods. Everything is securely stored in the cloud which ensures smooth functionality and accessibility. Additionally, TravelNet Solutions provides Track Pulse Contact Center Software by further enhancing customer interactions.
2. AmTrav
AmTrav provides cutting-edge software for the hospitality industry by revolutionizing traditional business travel solutions. Unlike clunky and frustrating systems, AmTrav is a seamless software and service platform designed to cater to the needs of modern businesses. By focusing on solving current challenges such as meetings and group travel, it offers a comprehensive suite of features. Its connected platform ensures a unified experience through streamlining business travel management. Tailored specifically for hospitality management systems, it optimizes productivity and efficiency, making travel business a breeze. With its commitment to assisting business travelers, AmTrav goes beyond being a mere software SaaS platform.
3. Operto Guest Technologies
Operto'sadvanced travel and hospitality management software enables seamless oversight of operations by consolidating PMS, access, and guest experience solutions into a user-friendly platform. With its innovative technology, one can effortlessly automate housekeeping scheduling and task management operations. By implementing simple and complex scheduling rules, the platform eliminates guesswork and assigns tasks to appropriate personnel. Operto Connect is a comprehensive hospitality operating system that integrates property management tools into a unified platform. From importing and managing guest reservations to controlling intelligent locks, thermostats, and noise monitoring on a per-room basis, Operto streamlines operations. This hospitality management system combines IoT hardware solutions with intuitive software to enhance guest experiences and drive operational efficiencies for property owners and managers alike.
4. Spotnana
Spotnana, a hospitality software, revolutionizes travel management with its comprehensive features. The platform simplifies the complexities of travel management by highlighting global travel policies, traveler health and safety, and robust analytics. Powered by a modern infrastructure, it enables a new generation of travel experiences, providing travelers with a wide range of unbiased options through deep direct NDC integrations with major airlines worldwide. Spotnana's platform ensures unprecedented visibility and control on a global scale, empowering businesses to optimize their travel programs. With dynamic global policies and unrivaled search capabilities, Spotnana's hospitality management tools future-proof the travel program and streamline operations.
5. Deem, Inc.
Deem is a hospitality management system software that caters to the evolving needs of employees and companies alike. Designed to enhance productivity, problem-solving capabilities, and cost control, Deem provides travel managers with a customizable and user-friendly platform to service their travelers efficiently. With a mobile-first approach, its intuitive suite of travel booking and hospitality management tools, led by Etta, enables seamless hotel, air, and car accommodation bookings from any device. Etta's accessibility and user-friendly interface ensure effortless travel planning, updates, itinerary changes, and more, even while on the go. The hotel management software provider's corporate travel booking solution is adopted by global travel management companies and corporate customers due to its unrivaled searches, personalized support, and valuable program insights.
6. ITILITE
A fully integrated travel and expense management solution, ITILITE optimizes spending while ensuring the safety and satisfaction of employees. Founded by experienced corporate travelers who understood the challenges of balancing cost and employee experience, ITILITE identifies the inefficiencies and complexities surrounding business travel. Recognizing the disparity between personal and business travel processes, ITILITE aimed to bring technological advancements to the corporate travel landscape. With unified travel and expense features, the platform drives convenience, control, and savings, empowering organizations worldwide.
7. DIB Travel
DIB Travel simplifies booking and expense management with its travel management software. Say goodbye to endless searches and multiple open tabs. With DIB Travel, booking a hotel, flight, and additional transportation options is done in three minutes. Partnered with renowned platforms like Booking.com and Expedia, DIB Travel provides access to over 1.5 million hotels and a wide selection of flights from major and low-cost airlines. Enjoy the convenience of selecting the preferred options and securing any seat effortlessly. Streamline the payment process with DIB Travel's business travel management software, which consolidates all travel expenses into a single, concise invoice. Additionally, the software offers customizable policies, approval flows, and a personalized expense management service.
In a Nutshell
Integrating advanced hospitality management software holds immense potential to revolutionize the industry. Imagine a world where smart AI-powered systems seamlessly handle all aspects of property management, guest interactions, and operational processes. These futuristic software solutions utilize machine learning algorithms and predictive analytics to anticipate guest preferences, personalize experiences, and optimize resource allocation. Virtual and augmented reality technologies immerse guests in immersive environments, enhancing their stay and creating unforgettable memories.
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Business Travel
Article | May 17, 2023
Discover the solutions and services of the top 25 revolutionary travel management companies that are transforming the industry in 2023. Integrate the one adhering your business needs and budget.
Businesses seeking stress-free and streamlined corporate travel solutions can rely on travel management companies. These experts provide customized travel arrangements, taking care of every aspect of business travel, from flight and hotel bookings to travel policy compliance, support, car rentals, and more. With advanced technology and online booking tools, they offer cost-effective deals while ensuring adherence to corporate travel policies. Additionally, they empower businesses to design their travel expense policies, resulting in an enhanced corporate travel experience for employees.
1 Expertise in Field
Travel management companies (TMCs) are experts in the field of business travel. They handle emergencies with proper understanding and remedy measures. Some travel risk management companies are specially devised for this purpose.
2 Being More Organized
TMCs organize the operations of business travel more efficiently. Business travel involves massive paperwork, especially in big groups and itineraries. The paperwork associated with corporate travel is managed by international travel agencies in a way that is organized, thereby enabling travel companies to allocate their attention to other crucial matters.
3 Making Informed Decisions
Employees must adhere to the corporate travel program or policy when they travel for business. Travel policies vary across different organizations and typically encompass guidelines that employees are obliged to follow while traveling. They make travel decisions for the company according to their travel policy. TMCs also advise employees to meet business travel requirements without breaking the company travel policy.
4 Enhanced Networking
TMCs have established relationships with travel and hospitality companies worldwide over the years sent in the industry. Business travel companies or clients could get exclusive rates on travel occasions through TMCs. They provide better deals within a travel budget than any direct travel booking.
5 Expense management
TMCs are specialized in finding and negotiating the best travel deals with enterprise providers and partners. They have special access to lower rates on the airline, hotel rooms, and transportation. As a result, they reduce overall business travel costs and offer competitive name-brand selections.
6 Business Travel Support
The companies can reach out to the travel consultant day and night with business travel support. Furthermore, the employees are free from the stress of tracking various vendors, as they can get all of them on one platform, which is accessible through a variety of different channels.
Top 25 Revolutionary Travel Management Companies
To enhance their business growth, travel companies can utilize the following list of travel management companies as a reference:
1. Emburse
More than 12 million business professionals, including CFOs, finance teams, and travelers, trust Emburse in spend optimization for expense, travel management, and payment solutions. It helps FORTUNE 100 corporations, startups, public sector agencies, and nonprofit organizations, through automation, analytics, and spending control. It streamlines processes and increases spending visibility, compliance, and positive financial outcomes.
2. East West Hospitality
East West Hospitality has more than 30 years of success in businesses like association, vacation rental and property management, developer support, hotels, spas, fitness, restaurants, and retail operations. It simplifies complicated travel operations. It makes stay effortless with its extensive experience and local expertise. It offers memorable destination experience through its trusted hospitality services.
3. Wexas Travel Management
Wexas Travel Management is a full-service travel provider to companies and organizations that travel on business. It works with businesses in different sectors like financial, legal, marine, oil and gas, insurance and pharmaceuticals. Its consultant-managed and digital tools are customized to individual requirements. With the support of a well-established account management team, it provides a broad range of travel-related services.
4. Nomadix
With over 25 years of experience, Nomadix has over 5 million daily internet connections in 150 countries. It helps hotel and property owners, brands, property management groups, and managed service providers (MSPs) with solutions like internet access gateways, application management appliances, visitor-based networks, digital voice assistants, bandwidth management, and managed Wi-Fi.
5. HotelKey
HotelKey has direct connectivity to major OTAs or GDS channels. Its all-in-one system includes core PMS, built-in CRS distribution, automated revenue management, property website hosting, and a no-commission direct bookings engine. In addition, its platform provides web apps for the back of the house and mobile apps for the front desk, housekeeping, and maintenance teams.
6. Bonotel Exclusive Travel
Bonotel Exclusive Travel, an inbound tour operator for luxury travel, offers exclusive deluxe hotels, resorts, and upscale boutique properties. It has a vast network of suppliers, direct access to the international client base, and tour operators worldwide. It has developed strong business relations with tour operators and can provide access to hotel partners which makes it unique.
7. Peachtree Hospitality Management
Peachtree Hospitality Management, a division of Peachtree Hotel Group, is a best-in-class hotel management company that creates loyalty among the stakeholders like associates, guests, and owners. Its proprietary systems and processes maximize financial performance, enhancing efficiency and customer experience. In addition, it provides dedicated hotel management services with the extension of expertise to owners as a third-party hotel manager.
8. AmTrav
AmTrav enhances the productivity of business travel. It offers services for expense management, corporate travel, software, travel productivity, and business travel management. In addition, its platform provides personal service with travel experts and relationship managers through advanced technology, which is helpful for business travelers, travel arrangers, and travel managers.
9. Boatsetter
Boatsetter, a leisure, travel & tourism company, is specialized in boat rental and charter, collaborative consumption, marine industry, travel, and adventure. It has partnered with GEICO and BoatUS to design an exclusive Peer-to-Peer Boat Rental Policy, inspiring boat owners’ engagement and encouraging entrepreneurship on the water. It helps to review the booking requests and inquiries from renters, manage all their bookings on the website or the application, and the payouts, which are processed quickly and connected to their bank account directly.
10. Norse Atlantic Airways
Norse Atlantic Airways offers affordable transatlantic flights with environment-friendly and comfortable Boeing 787 Dreamliner aircraft. It offers affordable fares to destinations and service on board modern and fuel-efficient Dreamliners for corporate and personal travel. It strengthens the employer-employee relationship and has entered into collective bargaining agreements with cabin crew and pilot unions in the U.S., U.K. and Norway. It incorporates a low-cost business model and approach for the cost-efficient airline without prior financial restraints.
11. InsureMyTrip
InsureMyTrip, an online travel insurance comparison site, serves customers worldwide with its licensed customer services. Its unique customer advocacy program provides assistance throughout the travel journey. It provides recommendations of best plans per the trip details and the best travel insurance plan that matches the traveler’s need, irrespective of the commission or company, with a money-back guarantee. In addition, its licensed representatives, Anytime Advocates, help with the insurance claim process.
12. Sonder Inc.
Sonder Inc., a hospitality company, provides a seamless business travel management experience through technology and innovation. It offers a variety of accommodation options, from rooms to suites and apartments. Its application empowers guests with self-service features and 24/7 support. Without any formality, it offers simple self-check-in to boutique bathroom amenities.
13. Operto Guest Technologies
Operto Guest Technologies, a hospitality automation and IoT operating system for vacation rentals, hotels, and serviced apartments, is revolutionizing hospitality management. It provides personalized stays, contactless check-in, guest satisfaction, operational efficiency and more revenue opportunity through technology that connects teams, guests, managers, smart devices and ancillary third-party service providers. With purpose-built software and smart IoT devices, it offers property managers unique real-time visibility and control. Its automation features include integrated keyless entry, energy savings, noise and occupancy monitoring, and personalized in-suite technology.
14. Life House
Life House is a vertically integrated hotel software, brand, and management company. It provides operational expertise to build robust software to enhance profitability and operational ease in independent hotels. It specializes in hotel software development, financial reporting, interior design, product management and operations, hotel management, and enterprise SaaS.
15. PCH Hotels and Resorts
PCH Hotels and Resorts is a franchised management company with Marriott. Beginning with the acquisition of the Grand Hotel Resort & Spa, PCH has grown to become the top hospitality employer in Alabama. Currently, PCH manages four Renaissance Marriott resort properties, three Marriott resort properties, one Autograph Collection resort, one select service IHG property, and one Outlet Shop. Each property is minutes from the extensive world-class Robert Trent Jones Golf Trail.
16. Spotnana
Spotnana powers unparalleled global travel experiences. It modernizes the travel industry's infrastructure to bring travelers freedom, simplicity, and trust everywhere. Its travel-as-a-service platform makes travel simpler and affordable for corporations. It's our ecosystem of agency, supplier, and technology provider partners to increase operational efficiency, new revenue opportunities, and innovation.
17. GetYourGuide
GetYourGuide is a travel bookingplatform connecting travel enthusiasts, experts, and technologists with people. It helps in discovering the destination’s best activities and attractions. In addition, it simplifies the digital travel reality by offering data-driven insights, technology, and market expertise through its destination management company database.
18. VTrips
VTrips offers services for vacation rental property management, guest management with dedicated property managers and best advertising and marketing approach. It is the premier property management company serving in Alabama, Florida, Georgia, Hawaii, Maryland, New Mexico, North Carolina, South Carolina, Tennessee, and Texas. It also provides vacation rental guest experiences through its quality management and personalized services for real estate and corporate travel.
19. Trip.com
Trip.com specializes in OTA, flight tickets, hotel booking, train tickets, and internet services. It has an extensive hotel network for a diverse choice of accommodation. Its flight network has over 2 million individual flight routes connecting more than 5,000 cities around the globe. It combines 24/7 English customer service and various travel products necessary for a successful trip.
20. Deem, Inc.
Deem, Inc., a corporate travel booking software, helps in policy adherence, better travel decisions, employee engagement, and cost control through secure solutions. It allows travel managers to customize their travel programs. It integrates into travel and expense management companies & travel agencies with powerful APIs and design.
21. Mondee Holdings, Inc.
Mondee Holdings, Inc is a group of travel technology, service, and content companies driving innovation in the leisure, corporate, and retail travel markets. It delivers a revolutionary technology platform of SaaS, mobile, and cloud products and services to a global customer base. Major corporations, SMBs, travel agencies, and new gig economy workers use its easy-to-use technology platforms to access global travel content, services, and products. Corporations like Rocketrip and TripPlanet trust it for cost-saving, employee safety, and sustainable future.
22. Priceline
Priceline, a part of Booking Holdings, Inc., provides the best deals for hotel rooms, flights, rental cars, vacation packages and cruises. It specializes in online travel services and ecommerce through its internet publishing platform. It uses cloud computing to provide personalized and alternative recommendations for travel.
23. Egencia
Egencia, an American Express Global Business Travel Company, is a B2B travel tech platform. As part of the valuable marketplace in business travel, it provides data insights and AI-driven innovation that power the travel programs of 9000+ companies in more than 60 countries. It specializes in online business travel booking, purchasing, technology, travel management, corporate travel management, and travel app.
24. Forbes Travel Guide
Forbes Travel Guide renders hotel, restaurant, and spa reviews, travel advice, learning tools, service training, guest experience, and customer services. Its star rating standards reflect the industry's highest levels of service and facility measurement worldwide. With experience in the industry, it provides more reliable information about the travel recommendations and booking.
25.ADTRAV
ADTRAV provides technology solutions for business travel management of corporations, government agencies, and non-profit organizations. Through the help of federal contractors, it maintains compliance with federal travel regulations and fulfills the audit requirements of the DCAA with its government travel expertise.
Conclusion
Collaboration with travel management companies has many advantages, like expense management, business travel support, enhanced networking, making informed decisions, being more organized, and expertise in the field. However, business travel must integrate with the companies according to their budgets and requirements. The travel companies must keep aside the stress of planning, booking & tracking the travel vendors for employees' business travel and rely on TMCs for a cost-effective and comfortable corporate travel experience.
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