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Gain Competitive Edge with 5 Latest Hospitality Management Trends

gain-competitive-edge-with-5-latest-hospitality-management
Discover the top hospitality management trends in 2023 to elevate the travel and tourism businesses. Adapt to hospitality marketing trends that are reshaping the hospitality and travel industry.

Contents
1. Introduction
2. Importance of Hospitality Technology for Hospitality Industry
3. Five Hospitality Management Trends Shaping the Industry 4. Today to Tomorrow: Hospitality Management 2.0
5. Final Thoughts


1. Introduction

The hospitality industry has undergone a significant transformation in recent years, leading to a need for businesses to gain a competitive edge. While some businesses couldn't withstand the challenges, others adapted swiftly, and innovative concepts emerged to cater to the new normal. In 2023, technology will continue to advance rapidly, and the trends in the hospitality industry will harness its potential in exciting new ways. Despite uncertain household budgets, consumer trends indicate a strong desire for hospitality and tourism. However, to thrive in this landscape, hospitality businesses must stay informed about the latest industry trends to optimize costs, maximize profitability, and ensure continued success in 2023 and beyond.


2. Importance of Hospitality Technology for Hospitality Industry

The hospitality industry, characterized by intense competition, prioritizes staying abreast of the latest hospitality management trends. Embracing technology offers many benefits, including streamlined processes, cost reduction, decreased staff workloads, increased revenue potential, and enhanced customer experiences.

By leveraging the latest technology, businesses can achieve work accuracy that surpasses what can be accomplished by human staff alone. Technology solutions make tasks more manageable and enable companies to meet the increasingly high expectations of today's customers. Keeping up with the latest hospitality technology trends is crucial, allowing businesses to stay caught up to their competitors. Failure to do so may grant rival companies, a significant competitive advantage, especially if they adopt technology that resonates with customers while others continue with traditional methods.


3. Five Hospitality Management Trends Shaping the Industry


3.1 Hotel Work Spaces

The rise of remote work has become a prominent trend in hospitality management and is projected to have a lasting impact. Fueled by the global public health crisis, numerous notable companies, including tech giants like Twitter, Facebook, and Amazon, have announced their intention to adopt a hybrid or flexible approach to remote work. The industry's future presents a significant opportunity for hospitality venues to position themselves as remote working hotspots for locals and travelers. Hotels and F&B establishments can capitalize on this trend by adapting their offerings to cater to the needs and preferences of this emerging segment. Providing ample plug sockets, offering free high-speed WIFI, creating well-equipped meeting rooms, and serving great coffee are essential starting points to attract remote workers and cater to their requirements effectively. By embracing and accommodating remote work trends, hospitality businesses can gain a competitive edge, enhance hotel operations and successfully meet the demands of this evolving market segment.


3.2 Robots in Hotels & Restaurants

An intriguing trend that has captured the attention of the hospitality industry is the growing integration of robotics and their application in tasks traditionally carried out by human personnel. A notable example includes the utilization of robots in the role of concierge within hotels, where they can warmly greet guests and provide them with essential customer information.

Moreover, certain hotels have begun implementing robots for cleaning, including vacuuming floors and even employing germ-killing capabilities. This practice holds potential for widespread adoption throughout the broader hospitality industry, including restaurants and other establishments. Integrating robotics in these operational aspects presents an exciting opportunity to enhance efficiency, improve customer experiences, and explore innovative avenues for growth and optimization within the industry.


3.3 Hyper-Personalization

In today's hospitality landscape, guests have elevated their expectations to be recognized and treated as individuals, driven by the increasing demand for personalized interactions. Recent research indicates that 71% of tourists now anticipate personalized experiences. However, many businesses are still limited to personalizing at a segment level, while customer expectations have advanced well beyond that, reaching the realm of hyper-personalization in 2023.

To achieve hyper-personalization, hospitality businesses can adapt trends in tourism industry and leverage technological platforms such as Customer Relationship Management (CRM) and Customer Experience Management (CEM). These platforms utilize big data to create highly tailored one-to-one interactions between guests and hosts at scale. By drawing on data insights into customers' browsing and buying behaviors, hotels, travel providers and restaurants can customize their offers, promotions, and services to align with individual preferences and needs.


3.4 Holistic Hospitality

The current preventive medicine and self-care trend is gaining significant traction in various industries. In particular, the wellness sector is experiencing exponential growth, evolving into a thriving trillion-dollar market. Hospitality venues, especially those equipped with spa facilities, can capitalize on this trend and secure a substantial portion of this lucrative market.

While traditional beauty and relaxation spa services remain relevant, there is a rapid surge in demand for health diagnostic technology and customized treatment plans. Expert professionals are now offering personal or group sessions to foster vitality, facilitate healing, manage stress, achieve emotional balance, promote mindfulness, and enhance sleep quality. This evolving landscape presents a unique opportunity with trends in tourism and hospitality industry to expand offerings and meet the increasing customer demand for holistic wellness experiences.


3.5 Digitalized Guest Experiences

The increasing significance of apps in managing hotel services is reshaping the hospitality industry and revolutionizing the guest experience. The digital and contactless services trend has gained significant momentum, leading to a comprehensive transformation of customer-facing operations. Technology-assisted options, such as mobile check-in, contactless payments, voice control, and biometrics, redefine how guests interact with hotels.

Customers, who have grown accustomed to the convenience of unlocking their smartphones and laptops using facial and fingerprint recognition, will soon expect the same level of ease when accessing their hotel rooms. However, implementing these upgrades may pose financial challenges for establishments that provide these advanced services. To remain ahead of the curve and meet evolving customer expectations, hoteliers should invest substantially in adopting and maintaining the necessary technologies.


4. Today to Tomorrow: Hospitality Management 2.0

The future of the hospitality industry holds several key dimensions that hoteliers need to consider. First, shifting from standardization to personalized experiences is critical as travelers seek tailored services. Second, focusing on niche markets and value creation through customization and specialization lead to increased success. Embracing technology as a business accelerator is the third dimension, as it  plays a central role in the hotel experience and enable innovative concepts. Fourth, social responsibility is a moral and economic obligation, with sustainability becoming a key focus. Developing responsive and resilient business models is the fifth dimension, essential for managing the risks and regulations associated with the growing tourist flows.

While the consensus among respondents in recent survey emphasizes the need for the businesses to adapt to hospitality industry trends 2023 to evolve and adapt to the current environment, some participants expressed more extreme views, suggesting that traditional hotel rooms may become obsolete. These individuals point to the growing impact of the sharing economy and the inclination of today's customers to seek alternatives to conventional hotels. They believe that the adjustments in offerings mentioned earlier may not be sufficient and that the industry must undergo a true reinvention to remain relevant.

This perspective highlights the importance of continuous innovation and staying ahead of evolving customer preferences. While personalized experiences, niche markets, technology integration, social responsibility, and resilient business models are key areas of focus, the industry needs to remain agile and open to further transformations.


5. Final Thoughts

As the hospitality industry continues to evolve, businesses must embrace key hospitality management trends to gain a competitive edge and ensure future success. The integration of technology, such as robotics in hotels and restaurants, offer opportunities for enhanced efficiency and improved customer experiences. Hyper-personalization is becoming essential, with guests expecting tailored interactions and customized offerings. The growth of the wellness market presents a chance for hospitality venues to capitalize on preventive medicine and self-care trends. Digitalized guest experiences, including mobile check-ins and contactless payments, are reshaping customer-facing operations. Looking ahead, the industry needs to shift from standardization to personalized experiences, focus on niche markets, embrace technology, prioritize social responsibility, and develop responsive business models. While some experts suggest traditional hotel rooms may become obsolete, it is crucial to continually innovate and adapt to changing customer preferences to remain relevant in the dynamic hospitality landscape.

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Choice Hotels International, Inc. announced a proposal to acquire all the outstanding shares of Wyndham Hotels & Resorts, Inc. at a price of $90.00 per share, payable in a mix of cash and stock. Under Choice's proposal, the $90.00 per share to be received by Wyndham shareholders would consist of $49.50 in cash and 0.324 shares of Choice common stock for each Wyndham share they own. Choice's proposal represents a 26% premium to Wyndham's 30-day volume-weighted average closing price ending on October 16, 2023, an 11% premium to Wyndham's 52-week high, and a 30% premium to Wyndham's latest closing price. In addition, Choice's proposal includes a cash or stock election mechanism, which would provide Wyndham shareholders with the ability to choose either cash, stock, or a combination of cash and stock consideration, subject to a customary proration mechanism. The proposal implies a total equity value for Wyndham of approximately $7.8 billion on a fully diluted basis. With the assumption of Wyndham's net debt, the proposed transaction is valued at approximately $9.8 billion. Choice is making its latest proposal public following Wyndham's decision to disengage from further discussions with Choice, following nearly six months of dialogue. Patrick Pacious, President and Chief Executive Officer of Choice Hotels, said, "We have long respected Wyndham's business and are confident that this combination would significantly accelerate both Choice's and Wyndham's long-term organic growth strategy for the benefit of all stakeholders. For franchisees, the transaction would bring Choice's proven franchisee success system to a broader set of owners, enabling them to benefit from Choice's world-class reservation platform and proprietary technology to drive cost savings and greater investment returns. Additionally, the value-driven leisure and business traveler would benefit from the combined company's rewards program, which would be on par with the top two global hotel rewards programs, enabling them to receive greater value and access to a broader selection of options across stay occasions and price points." "A few weeks ago, Choice and Wyndham were in a negotiable range on price and consideration, and both parties have a shared recognition of the value opportunity this potential transaction represents. We were therefore surprised and disappointed that Wyndham decided to disengage. While we would have preferred to continue discussions with Wyndham in private, following their unwillingness to proceed, we feel there is too much value for both companies' franchisees, shareholders, associates, and guests to not continue pursuing this transaction. Importantly, we remain convinced of both the many benefits of the combination and our ability to complete it," concluded Pacious. STAKEHOLDER BENEFITS The proposed transaction is expected to provide important benefits for both companies' stakeholders – franchisees, shareholders, associates, and guests – that will be particularly significant in the current uncertain economic climate: Franchisees Win with Lower Total Cost of Ownership and Increased Hotel Profitability. Capitalizes on Choice's proven franchisee success system, dedicated to driving incremental topline reservation delivery to hotel owners' properties, while lowering the total cost of hotel operations. Nearly doubles the resources available to spend on marketing and driving direct bookings to franchisees' hotels, lowering the cost of customer acquisition. Establishes an even larger rewards member base on par with the top two global programs in hospitality. Drives more business to franchisees through lower cost direct booking channels, lower customer acquisition commissions and fees, and lower hotel operating costs and technology-driven labor efficiencies, while continuing to determine their own commercial and pricing strategy. Improves the value of franchisees' real estate assets by enhancing applicable cap rates and cash flows resulting from affiliation with the proforma company. Reduces friction by offering guests a broad portfolio of brands across segments, no matter their stay occasions, within a single system. Promotes increased investment and innovation in proprietary technology systems, processes, and training at the hotel and corporate level, which drives returns for Choice franchisees. Creates an opportunity to replicate the tremendous success of Choice's recent acquisition of Radisson Hotel Group Americas. During the integration of the nearly 600 Radisson Americas hotels into the Choice platform, Radisson's franchisees have already meaningfully benefited from increased guest traffic to direct and digital channels, improvement in conversion rates, and access to more corporate accounts, among other benefits. Shareholders Win with Superior Value Creation. Represents a 26% premium to Wyndham's 30-day volume-weighted average closing price ending on October 16, 2023, an 11% premium to the 52-week high, and a 30% premium to the latest closing price. Anticipates meaningful annual run-rate synergies, estimated at approximately $150 million, through the rationalization of operational redundancies, duplicate public company costs, and topline growth potential. Enables Wyndham shareholders to benefit from Choice's historically 3x higher EBITDA multiple on a go-forward basis and receive deferred tax treatment on their stock consideration. Creates additional capacity to further support Choice's revenue intense strategy, ultimately helping drive growth across its organic revenue levers. Generates predictable high free cash flow through an asset-light, fee-for-service model, providing resiliency through all economic cycles and enabling additional investments for future growth. Offers Wyndham two seats on the combined company's board and Wyndham shareholders the opportunity to participate in the significant upside potential of the combined company. Cash/stock consideration mechanism enables Wyndham shareholders to choose between immediate upfront proceeds or long-term value creation, subject to a customary proration mechanism. Guests Win with More Lodging Options and Value. Creates a combined rewards program on par with the top two global programs in hospitality and will offer best-in-class program benefits through partnerships and compelling hotel redemption options. Builds a global network of brands and hotels that meets the needs of the value-driven traveler across geographies, stay occasions and price points, supported by a seamless reservation system that provides guests with a more effective and efficient booking and shopping experience. Improves data analytics, enabling the combined company to personalize communications and tailor recommendations to best meet the needs of the up to 160 million combined rewards program members. Associates Win with Expanded Opportunities and Increased Stability. Offers the ability to retain and attract "best-in-class" talent to one of the world's premier hotel companies focused on employee well-being, bringing together a wide range of experience and deep industry expertise. Provides more opportunities for advancement and career growth as part of a larger, more diversified organization. Combines two performance-driven cultures with a continued emphasis on associate development and growth. RECENT ENGAGEMENT OVERTURES Choice has been engaging with Wyndham for nearly six months. In April 2023, Choice sent its initial letter to Wyndham regarding a potential transaction, proposing to acquire Wyndham for $80.00 per share, comprising 40% cash and 60% Choice stock. The proposal represented a 20% premium to the closing price of Wyndham common stock on April 27, 2023, and a 19% premium over Wyndham's 30-day volume-weighted average share price as of such date. Wyndham rejected the proposal and refused to engage in further discussions. In the days and weeks thereafter, Choice continued to attempt engagement with Wyndham, increasing its proposal to $85.00 per share, comprising 55% cash and 45% Choice stock, explaining that further discussions could clarify Wyndham's hesitation to proceed with negotiations. The companies' respective Board Chairs and CEOs then met in person, and following that meeting, Choice improved its proposal yet again. Choice made its best and final offer which represented an increase of the per-share consideration to $90.00, comprising 55% cash and 45% Choice stock. In September 2023, the Choice and Wyndham Board Chairs continued engagement, along with each of their respective financial and legal advisors. Wyndham acknowledged the strategic rationale of the proposal and that terms were within a negotiable range but raised questions regarding the value of Choice stock and timing for obtaining regulatory approvals. In response, Choice proposed to enter into a one-way, short-term non-disclosure agreement to facilitate Choice providing information that would address Wyndham's concerns (a draft of which was subsequently sent to Wyndham) and made its external counsel available for several discussions. However, during a follow-up call between the Chair of each company's Board and their respective advisors, Wyndham made clear their unwillingness to proceed with further discussions. FINANCING, CONDITIONS AND APPROVALS Closing of the contemplated transaction would be subject to satisfaction of customary closing conditions, including receipt of required shareholder and regulatory approvals. Choice would not make this offer if it were not confident that its franchisees and guests would embrace the proposed combination and that the transaction would receive applicable regulatory approvals in due course. The cash portion of the purchase price is expected to be funded with a combination of cash on hand, as well as proceeds from the issuance of debt securities. Choice is highly confident in its ability to obtain fully committed financing based on indications from two separate bulge bracket global banks for the entire cash portion of our proposal. Strong free cash flows will allow for continued investments in the proforma business and rapid deleveraging of the balance sheet. About Choice Hotels Choice Hotels International, Inc. is one of the leading lodging franchisors in the world. Choice® has nearly 7,500 hotels, representing almost 630,000 rooms, in 46 countries and territories. A diverse portfolio of 22 brands that range from full-service upper upscale properties to midscale, extended stay and economy enables Choice® to meet travelers' needs in more places and for more occasions while driving more value for franchise owners and shareholders. The award-winning Choice Privileges® loyalty program and co-brand credit card options provide members with a fast and easy way to earn reward nights and personalized perks.

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PR Newswire | October 18, 2023

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With the assumption of Wyndham's net debt, the proposed transaction is valued at approximately $9.8 billion. Choice is making its latest proposal public following Wyndham's decision to disengage from further discussions with Choice, following nearly six months of dialogue. Patrick Pacious, President and Chief Executive Officer of Choice Hotels, said, "We have long respected Wyndham's business and are confident that this combination would significantly accelerate both Choice's and Wyndham's long-term organic growth strategy for the benefit of all stakeholders. For franchisees, the transaction would bring Choice's proven franchisee success system to a broader set of owners, enabling them to benefit from Choice's world-class reservation platform and proprietary technology to drive cost savings and greater investment returns. Additionally, the value-driven leisure and business traveler would benefit from the combined company's rewards program, which would be on par with the top two global hotel rewards programs, enabling them to receive greater value and access to a broader selection of options across stay occasions and price points." "A few weeks ago, Choice and Wyndham were in a negotiable range on price and consideration, and both parties have a shared recognition of the value opportunity this potential transaction represents. We were therefore surprised and disappointed that Wyndham decided to disengage. While we would have preferred to continue discussions with Wyndham in private, following their unwillingness to proceed, we feel there is too much value for both companies' franchisees, shareholders, associates, and guests to not continue pursuing this transaction. Importantly, we remain convinced of both the many benefits of the combination and our ability to complete it," concluded Pacious. STAKEHOLDER BENEFITS The proposed transaction is expected to provide important benefits for both companies' stakeholders – franchisees, shareholders, associates, and guests – that will be particularly significant in the current uncertain economic climate: Franchisees Win with Lower Total Cost of Ownership and Increased Hotel Profitability. Capitalizes on Choice's proven franchisee success system, dedicated to driving incremental topline reservation delivery to hotel owners' properties, while lowering the total cost of hotel operations. Nearly doubles the resources available to spend on marketing and driving direct bookings to franchisees' hotels, lowering the cost of customer acquisition. Establishes an even larger rewards member base on par with the top two global programs in hospitality. Drives more business to franchisees through lower cost direct booking channels, lower customer acquisition commissions and fees, and lower hotel operating costs and technology-driven labor efficiencies, while continuing to determine their own commercial and pricing strategy. Improves the value of franchisees' real estate assets by enhancing applicable cap rates and cash flows resulting from affiliation with the proforma company. Reduces friction by offering guests a broad portfolio of brands across segments, no matter their stay occasions, within a single system. Promotes increased investment and innovation in proprietary technology systems, processes, and training at the hotel and corporate level, which drives returns for Choice franchisees. Creates an opportunity to replicate the tremendous success of Choice's recent acquisition of Radisson Hotel Group Americas. During the integration of the nearly 600 Radisson Americas hotels into the Choice platform, Radisson's franchisees have already meaningfully benefited from increased guest traffic to direct and digital channels, improvement in conversion rates, and access to more corporate accounts, among other benefits. Shareholders Win with Superior Value Creation. Represents a 26% premium to Wyndham's 30-day volume-weighted average closing price ending on October 16, 2023, an 11% premium to the 52-week high, and a 30% premium to the latest closing price. Anticipates meaningful annual run-rate synergies, estimated at approximately $150 million, through the rationalization of operational redundancies, duplicate public company costs, and topline growth potential. Enables Wyndham shareholders to benefit from Choice's historically 3x higher EBITDA multiple on a go-forward basis and receive deferred tax treatment on their stock consideration. Creates additional capacity to further support Choice's revenue intense strategy, ultimately helping drive growth across its organic revenue levers. Generates predictable high free cash flow through an asset-light, fee-for-service model, providing resiliency through all economic cycles and enabling additional investments for future growth. Offers Wyndham two seats on the combined company's board and Wyndham shareholders the opportunity to participate in the significant upside potential of the combined company. Cash/stock consideration mechanism enables Wyndham shareholders to choose between immediate upfront proceeds or long-term value creation, subject to a customary proration mechanism. Guests Win with More Lodging Options and Value. Creates a combined rewards program on par with the top two global programs in hospitality and will offer best-in-class program benefits through partnerships and compelling hotel redemption options. Builds a global network of brands and hotels that meets the needs of the value-driven traveler across geographies, stay occasions and price points, supported by a seamless reservation system that provides guests with a more effective and efficient booking and shopping experience. Improves data analytics, enabling the combined company to personalize communications and tailor recommendations to best meet the needs of the up to 160 million combined rewards program members. Associates Win with Expanded Opportunities and Increased Stability. Offers the ability to retain and attract "best-in-class" talent to one of the world's premier hotel companies focused on employee well-being, bringing together a wide range of experience and deep industry expertise. Provides more opportunities for advancement and career growth as part of a larger, more diversified organization. Combines two performance-driven cultures with a continued emphasis on associate development and growth. RECENT ENGAGEMENT OVERTURES Choice has been engaging with Wyndham for nearly six months. In April 2023, Choice sent its initial letter to Wyndham regarding a potential transaction, proposing to acquire Wyndham for $80.00 per share, comprising 40% cash and 60% Choice stock. The proposal represented a 20% premium to the closing price of Wyndham common stock on April 27, 2023, and a 19% premium over Wyndham's 30-day volume-weighted average share price as of such date. Wyndham rejected the proposal and refused to engage in further discussions. In the days and weeks thereafter, Choice continued to attempt engagement with Wyndham, increasing its proposal to $85.00 per share, comprising 55% cash and 45% Choice stock, explaining that further discussions could clarify Wyndham's hesitation to proceed with negotiations. The companies' respective Board Chairs and CEOs then met in person, and following that meeting, Choice improved its proposal yet again. Choice made its best and final offer which represented an increase of the per-share consideration to $90.00, comprising 55% cash and 45% Choice stock. In September 2023, the Choice and Wyndham Board Chairs continued engagement, along with each of their respective financial and legal advisors. Wyndham acknowledged the strategic rationale of the proposal and that terms were within a negotiable range but raised questions regarding the value of Choice stock and timing for obtaining regulatory approvals. In response, Choice proposed to enter into a one-way, short-term non-disclosure agreement to facilitate Choice providing information that would address Wyndham's concerns (a draft of which was subsequently sent to Wyndham) and made its external counsel available for several discussions. However, during a follow-up call between the Chair of each company's Board and their respective advisors, Wyndham made clear their unwillingness to proceed with further discussions. FINANCING, CONDITIONS AND APPROVALS Closing of the contemplated transaction would be subject to satisfaction of customary closing conditions, including receipt of required shareholder and regulatory approvals. Choice would not make this offer if it were not confident that its franchisees and guests would embrace the proposed combination and that the transaction would receive applicable regulatory approvals in due course. The cash portion of the purchase price is expected to be funded with a combination of cash on hand, as well as proceeds from the issuance of debt securities. Choice is highly confident in its ability to obtain fully committed financing based on indications from two separate bulge bracket global banks for the entire cash portion of our proposal. Strong free cash flows will allow for continued investments in the proforma business and rapid deleveraging of the balance sheet. About Choice Hotels Choice Hotels International, Inc. is one of the leading lodging franchisors in the world. Choice® has nearly 7,500 hotels, representing almost 630,000 rooms, in 46 countries and territories. A diverse portfolio of 22 brands that range from full-service upper upscale properties to midscale, extended stay and economy enables Choice® to meet travelers' needs in more places and for more occasions while driving more value for franchise owners and shareholders. The award-winning Choice Privileges® loyalty program and co-brand credit card options provide members with a fast and easy way to earn reward nights and personalized perks.

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Business Travel

IBS Software and Royal Caribbean Group partner to transform guest experience

PR Newswire | November 03, 2023

IBS Software and Royal Caribbean Group have partnered to deploy cutting-edge retail technology at the heart of its operations. This will enable Royal Caribbean Group to provide a more seamless vacation experience to their guests and deliver even better personalized services at every step of the trip: before, during, and after. By deploying IBS Software's next-generation iTravelCruise travel platform, Royal Caribbean Group is able to place guests at the center of the retail experience. The company will be able to deliver tailored guests experiences by empowering every sales channel with an integrated and flexible omni-channel platform. This translates into offering improved bundling and selling services that contribute to the entire vacation experience – such as booking flights, hotels and transfers – as well as providing guests with personalized offers, credits and loyalty rewards throughout the trip using an integrated guest wallet. The iTravelCruise platform plays a significant role by delivering high-performance transaction processing, high system availability, security and stringent performance requirements for Royal Caribbean Group, providing a faster, more flexible and seamless booking experience for guests. Marta Poulter, Chief Information Officer at Royal Caribbean Group, said, "At Royal Caribbean Group we never stand still in our mission to constantly bring our guests new and differentiated experiences. This is made possible by replacing legacy technology with the latest cloud-based retail systems, as it gives guests far more flexibility over what they can book to make their trip as seamless and easy as possible." Rafeh Masood, Chief Growth and Digital Officer at Royal Caribbean Group, said, "By adopting this modern digital platform, we'll offer more opportunities to our guests to continue vacationing and building memories with us, with the benefits of flexible, personalized offerings." Jitendra Sindhwani, President at IBS Software, commented, "We're thrilled to partner with the Royal Caribbean Group to fulfill their goal of placing retail technology at the heart of its guest experiences. The travel industry is shifting from being product-centric to guest-centric and Royal Caribbean Group has an inspiring vision to continuously provide value to every guest, at every stage of their vacation journey. Backed by next-generation cloud-based architecture, digital solutions like IBS Software's iTravelCruise SaaS platform are driving the transformation needed for companies to unlock their full growth and scale potential. We're beyond excited to be on this journey with Royal Caribbean Group as they transform the future of cruise." More information on IBS Software's next-generation digital platform for tour and cruise, enabling cruise lines to leverage smarter technologies. About IBS Software IBS Software is a leading SaaS solutions provider to the travel industry globally, managing mission-critical operations for customers in the aviation, tour & cruise, hospitality, and energy resources industries. Tour & Cruise Industry: IBS Software's platform provides a comprehensive, customer-centric, digital platform that covers onshore, online and on-board solutions.

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Events