Inside the Travel Industry: Airline Pricing Volatility and Corporate Travel

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The mechanisms behind Airline Yield Management for business travel, also known as Revenue Management or Dynamic Pricing, are not especially transparent to corporate buyers. There are a number of common beliefs about the pricing strategies and patterns behind airfare volatility: Prices rise initially, fall as departure approaches, change when seats are sold, fluctuate with correlated substitutes of days and locations, and so on.

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Evolution Hospitality

Evolution Hospitality manages hotel and resort properties in major metropolitan markets across the United States. We are a growing company and look forward to you growing along with us by providing plenty of on-the-job development opportunities to learn new things. Ultimately, your career is in your hands at Evolution Hospitality. It's our brilliant combination of talented, caring individuals that makes Evolution Hospitality the world-class operation it is today. We operate with a servant leadership mentality, focused on three constituents: guests, associates and owners.

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COMMERCIAL TRAVEL,INDUSTRY OUTLOOK

Leveraging AI English Language Training Tools to Address Travel Surge

Article | July 13, 2022

Following the relaxation of travel restrictions worldwide, the travel and hospitality industries are bracing for a surge in demand, which will be exacerbated by the upcoming holiday season. As widespread delays and cancellations become more likely, companies like airlines are looking for new ways to put customer experience first. In a global workplace, not being able to speak more than one language, especially English, can hurt productivity and customer service. For this reason, people who work with customers need to have good communication skills. Investing in AI English Language Training Tools Traditional training for staff in the travel and hospitality industries requires in-person sessions. It can be expensive and impractical because employees have tight work schedules and staff operates in different time zones. AI app-based training alternatives solve these key issues, allowing employees to learn "on-the-fly" whenever possible. Digital training alternatives can provide greater levels of personalization for task assignment and user feedback. This individualized approach to staff development is difficult to replicate in large in-person sessions. Because all tasks are given and done digitally, management teams can track each user's progress and how well training is going for the whole department. Offering Excellent Customer Experience English communication is vital to offering an excellent customer experience and long-term profitability as the travel industry recovers. Artificial intelligence-powered English language training solutions stand out from the crowd. This technology has the potential to constantly advance and improve over time, thanks to its own learning community. Ed-tech learning tools that incorporate future-proofed AI technology will enable providers to confidently invest in training, increase staff engagement, and provide best-in-class customer experiences to global travelers. As a result, companies in the travel and hospitality industries that put communication skills training at the top of their list of priorities and speed it up can increase customer loyalty and stay competitive with other market leaders.

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TRAVEL TECHNOLOGY

Crypto Tourism: A Quick Guide

Article | July 7, 2022

Cryptocurrencies have skyrocketed in popularity in recent years. They have progressed from a speculative asset class to one gaining widespread mainstream acceptance. And it's not just retail investors who are interested; cryptocurrencies are finding applications in various industries, including tourism. Yes, the travel industry, like many others, has warmed up to these virtual digital assets. It has even spawned a new type of operation, namely crypto tourism. Introduction to Crypto Tourism Crypto tourism is categorized into two broad groups: the first has tours and travel packages purchased with cryptocurrency. Emirates Airlines, the biggest airline in the UAE, has said it will soon accept bitcoin as a form of payment. Air Baltic, a Latvian airline, has also been accepting bitcoin for a long time. The second type of crypto tourism is trips and travel packages where crypto conferences, classes, or lectures are a big part of the schedule. You might not understand why someone would take a vacation to go to a lecture or learn about blockchain. Well, most people don't go on vacations like these. Instead, they focus on entrepreneurs and crypto fans who want to network, meet people with similar interests, and discuss business ideas. In addition to the usual sightseeing and relaxing, these crypto trips include talks by well-known speakers and industry veterans. Limitation and Scope Crypto tourism is a small market with few options, and only a small number of travel partners accept crypto payments. Also, the people who put on some crypto trips often use these events to sell ICOs and do other marketing. However, crypto tours are great for people who want to learn about cryptocurrencies, meet others interested in the same things, and relax. They are also great if you want digital money to pay for your trip. Then, you don't have to worry about currency exchange rates or losing cash. A Different Reality Crypto tourism might be niche, but it is a new reality in the travel industry. It allows safe transactions and innovative tours, which many businesses are keen about.

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TRAVEL TECHNOLOGY,AIRLINES AND AIRPORTS

Smart Airports: Hassle-free Air Travel & Revenue

Article | July 19, 2022

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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TRAVEL TECHNOLOGY

Big Data In Travel: Triggering Business Transformation

Article | July 7, 2022

Global travel agencies are striving to maintain a competitive edge in the market. They are relying on big data to analyze the current state of the market, automate work processes, and better understand customer needs to streamline their businesses. Big data is now an important part of the future of the travel industry because it helps: Accurate decision-making Customer demand forecasting Service personalization Travel marketing Optimization of pricing strategies How is Big Data Sourced? The following data sources are used to gather big data: UGC Data User-Generated Data (UGC) is the most affordable data to obtain and includes textual data gathered through questionnaires, social networks, and image data. Device Data Device data gives access to GPS data, mobile roaming data, bluetooth data, RFID, WiFi data and more. This data is harder to obtain and is expensive. Transaction Data Web search data, web page visit data, online booking data, etc., constitute transaction data. Advanced web services such as Google Analytics can help collate this data. The sourced data is analyzed using artificial intelligence, machine learning, and natural language processing (NLP). How Is Big Data Changing the Way Travel Companies Operate? With the help of big data, you can increase your performance, get deeper customer insights, and offer an excellent customer experience to travelers. Let us briefly examine how big data can help you achieve all these objectives. Optimize Your Revenue Optimize your costs and accurately predict short-term and long-term revenues. Through customer experience metrics, you can also analyze your profit potential, correctly forecast peak period demand and offer relevant services to customers at the right time. As a result, protect your agency from unexpected expenses and make the most of customer demand. Recognize & Capitalize on Trends Historical, real-time data and a standard analytical approach help you understand the changing trends in the tourism industry. Then, you can swiftly take measures to adapt to these changing trends and capitalize on the ones that contribute to revenue. Bleisure is an excellent example of such a travel trend. Improve Your Marketing Campaigns Big data processes large amounts of information on your target audience and helps you see which marketing campaigns can succeed based on long-term forecasting. Consequently, you can prevent any unexpected losses while executing seasonal marketing campaigns. Additionally, big data collects information on your competitors and target audience in real-time, so you know the kind of marketing campaigns you need to execute to remain ahead in the race. Enhance Brand Reputation Big data considers customer reviews and comments to help you understand which aspects of your business need improvement. Internally collected feedback and big data analysis can create a standard to improve the brand reputation of your agency. Conclusion Big data in the travel industry is more than just a trend; it is a tool for better understanding the market situation and each customer in general (potential and existing). All of this lays the groundwork for a more personalized approach and accurate prediction of what customers want, and contributes to an elevated customer experience and an increase in revenue.

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Spotlight

Evolution Hospitality

Evolution Hospitality manages hotel and resort properties in major metropolitan markets across the United States. We are a growing company and look forward to you growing along with us by providing plenty of on-the-job development opportunities to learn new things. Ultimately, your career is in your hands at Evolution Hospitality. It's our brilliant combination of talented, caring individuals that makes Evolution Hospitality the world-class operation it is today. We operate with a servant leadership mentality, focused on three constituents: guests, associates and owners.

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Skift Call Jan. 16: Why Travel Needs to Shake Off the Gloom in 2019

Skift | January 07, 2019

In recent weeks, growing anxiety about the state of the global economy has permeated the business conversation. Big swings in stocks and uncertainty over the impact of President Trump’s trade policies — and over Trump in general — have fueled these fears. But in its annual outlook for the travel sector, Skift Research offers an antidote for the unrest with a positive forecast. “In our view, recessions are not caused by the age of the economic cycle alone and so as long as key indicators remain positive and a negative shock to the global economic system doesn’t occur, we should be in for another solid year of growth,” the outlook report states. The report offers forecasts for growth in tourism, international arrivals, and business travel as well as our expectations for key sectors within travel including hotels, airlines, online travel agencies, and cruise.

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Go, go, go! Ryanair launches a summer seat sale and there are some fantastic deals

Her.ie | December 27, 2018

Ryanair has just launched a huge sale on summer destinations and if you're looking to book a sun holiday for 2019, now is the time. The 2019 Early Bird Deal has just launched and it it is offering customers €20 off returns flights...the best bit is there are one million seats to be snapped up. #AD The offer is valid until January 3 and includes destinations such as Tenerife, Palma, Portugal and Faro. Now that Christmas is over and January is just around the corner, we have a feeling there will be plenty of people looking to book a holiday to sunnier climes.It's one way to distract from the back to work blues and we fully support the decision to book a summer getaway.

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The art of the mileage run: Where airline miles make the trip

USA TODAY | December 20, 2018

If it’s early December, it must be Buenos Aires. Maybe Hong Kong? No, London! Wait – not far enough. Sound absurd? Not if you’re a frequent flyer on the cusp of earning the next tier of elite status with your airline. Most big airlines dole out their top-tier status levels by miles flown – or elite “qualifying miles” in frequent-flyer parlance. At most big airlines, flying 25,000 elite miles in a calendar year earns you the lowest level of elite status (though most agree that’s not worth much these days). Real road warriors can earn even higher levels of elite status if they clear 50,000 or 75,000 miles in a calendar year. Perks include things like free checked bags and priority check-in. Upgrades are complimentary on domestic flights – assuming you’re not outranked by other elites on your flight. Hitting 100,000 elite miles earns you the highest published status for the frequent-flyer programs at big global airlines like American and United, while Delta requires 125,000. That’s when the biggest perks kick in, including a limited number of upgrades that can be used for lie-flat seats on long international routes.

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Skift Call Jan. 16: Why Travel Needs to Shake Off the Gloom in 2019

Skift | January 07, 2019

In recent weeks, growing anxiety about the state of the global economy has permeated the business conversation. Big swings in stocks and uncertainty over the impact of President Trump’s trade policies — and over Trump in general — have fueled these fears. But in its annual outlook for the travel sector, Skift Research offers an antidote for the unrest with a positive forecast. “In our view, recessions are not caused by the age of the economic cycle alone and so as long as key indicators remain positive and a negative shock to the global economic system doesn’t occur, we should be in for another solid year of growth,” the outlook report states. The report offers forecasts for growth in tourism, international arrivals, and business travel as well as our expectations for key sectors within travel including hotels, airlines, online travel agencies, and cruise.

Read More

Go, go, go! Ryanair launches a summer seat sale and there are some fantastic deals

Her.ie | December 27, 2018

Ryanair has just launched a huge sale on summer destinations and if you're looking to book a sun holiday for 2019, now is the time. The 2019 Early Bird Deal has just launched and it it is offering customers €20 off returns flights...the best bit is there are one million seats to be snapped up. #AD The offer is valid until January 3 and includes destinations such as Tenerife, Palma, Portugal and Faro. Now that Christmas is over and January is just around the corner, we have a feeling there will be plenty of people looking to book a holiday to sunnier climes.It's one way to distract from the back to work blues and we fully support the decision to book a summer getaway.

Read More

The art of the mileage run: Where airline miles make the trip

USA TODAY | December 20, 2018

If it’s early December, it must be Buenos Aires. Maybe Hong Kong? No, London! Wait – not far enough. Sound absurd? Not if you’re a frequent flyer on the cusp of earning the next tier of elite status with your airline. Most big airlines dole out their top-tier status levels by miles flown – or elite “qualifying miles” in frequent-flyer parlance. At most big airlines, flying 25,000 elite miles in a calendar year earns you the lowest level of elite status (though most agree that’s not worth much these days). Real road warriors can earn even higher levels of elite status if they clear 50,000 or 75,000 miles in a calendar year. Perks include things like free checked bags and priority check-in. Upgrades are complimentary on domestic flights – assuming you’re not outranked by other elites on your flight. Hitting 100,000 elite miles earns you the highest published status for the frequent-flyer programs at big global airlines like American and United, while Delta requires 125,000. That’s when the biggest perks kick in, including a limited number of upgrades that can be used for lie-flat seats on long international routes.

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