Hospitality Management
Article | June 29, 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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Travel Technology
Article | May 5, 2023
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
3.1 Hotel Work Spaces
3.2 Robots in Hotels & Restaurants
3.3 Hyper-Personalization
3.4 Holistic Hospitality
3.5 Digitalized Guest Experiences
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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Business Travel
Article | May 10, 2022
As the impact of COVID-19 subsides, the devasted travel industry appears to be resuming normalcy with increased travel volumes. In addition, emerging tourism trends and technology in the travel industry have offered new possibilities for business travel to redefine itself. The present opportunities available in the travel sector may benefit your firm. However, customer experience in the travel industry has a significant impact on growing long-term loyalty. Providing a positive client experience is a significant problem for many in the travel and tourism industry.
Customer Experience Is a Challenge to Recover
Customer experience is a critical component of the travel and tourism industry. As travel volumes have increased in the post-covid era, so have negative travel experiences. Business travelers who commute frequently have higher expectations. For a very long time, they have voiced their dissatisfaction, even before the leisure travelers complained. This imbalance has been exacerbated by COVID-19.
According to the American Customer Satisfaction Index, 38% of business passengers complained about the airline, double the percentage compared to leisure travelers. The actual question, though, is how to overcome this obstacle.
Some companies may go above and beyond to reassure travelers with honesty, openness, and unmatched customer service. You may improve the customer experience by implementing the following ideas.
Concentrate on the corporate culture
Give specific examples of consumer advocacy
Equip employees with the necessary tools
According to a survey conducted by Think with Google, superior customer service is the most compelling aspect for high-value travelers. Additionally, 60% of them agree that customer service is the most crucial factor when it comes to picking a brand to travel with.
CX Plays a Vital Role in Revenue Generation
Managing customer experience in travel can enhance the brand-customer relationship, ultimately leading to revenue growth. The adoption of technology for travel booking, ticketing, and expenditure management has improved the customer experience. Satisfied customers increase income and assist firms in calculating the return on their travel and cost expenditures.
Customer experience is a key differentiator that boosts customer happiness and loyalty, and both sells and establishes a competitive edge.
“CX is the difference between success or slump.”
— Chris Pescott, CEO of Perceptive.
Annual business travel expenditures will reach $1.7 trillion globally by 2022. According to Statista, nearly 500 million business travels will take place withing the United States each year by 2022.
Ways to Improve Customer Experience (CX)
Use Tech to Create Breakthrough Customer Experiences
Technology in the travel industry is regularly evolving. By putting technology at the center of each touchpoint, the industry is laying the groundwork for a successful customer experience in travel. Chatbots powered by AI and machine learning deliver client care 24 hours a day, seven days a week. Chatbots have been intelligently developed using cutting-edge technology and may be used in place of humans. AI is constantly evolving, making it more trustworthy and effective as a commercial solution.
Embrace an Omnichannel Mindset
With mobile devices accounting for more than 50% of online traffic, multi-device digital experiences have become the norm. In addition, today's customers interact with companies across various offline and online channels, frequently switching several times, and each stage of the journey must be seamlessly connected and consistent. As a result, adopting omnichannel is one of the most significant changes you will undertake.
Use Customer Journey Mapping
To create a customer journey, you must first understand your consumer. By comparing journey maps to core KPIs, you may gain a deeper insight into your customer experience and identify areas of concern and opportunity. You may use trip maps to enhance the customer experience and visualize the customer experience in the future. Alternatively, you may influence organizational transformation from the stage of inspiration to the planning and execution phases. Utilize all touchpoints and seek new possibilities for interaction.
Case studies:
KLM Royal Dutch Airlines
KLM's social care staff are well-known for their responsiveness and efficiency – the airline even shows a live countdown on its Twitter header picture to inform consumers when they may anticipate a response. However, what sets the organization apart is its ability to generate unique customer experiences.
Qatar Airways
Qatar Airways is elevating the business class travel experience. At a recent travel industry conference in Berlin, the airline unveiled its Business Class QSuite. This is the first time a business class cabin has been offered and sold with a real double bed. However, the organization goes a step further by providing value to consumers traveling for business. Additionally, the QSuite may be an open work and meeting room. Multiple configuration choices appeal to clients seeking privacy or personalization.
A score of 9.2 for audience insights indicates that the brand is in tune with its social audience well enough to cultivate an impressive number of committed followers.
Conclusion
The travel and tourism industry significantly benefits from nurturing an outstanding customer experience. Supremacy in customer experience can be offered with the help of sophisticated digital technology that can quantify effects and forecast behavior. In addition, as 'bleisure' travel continues to grow in popularity to blend business and leisure time, the customer experience in travel is increasing in relevance.
FAQ:
What are the benefits of a good customer experience?
A good customer experience increases sales and creates customer loyalty. Moreover, it reduces complaints.
How would you define excellent customer service?
Great customer service means responding promptly to a client's wants, being responsive to their concerns, and offering an enthusiastic level of care.
Do you value customer service or customer experience more?
Consumer service results in a positive customer experience. Both are critical to the business's success.
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