Travel Expense Management Software Market Business Overview, Demand, Application, Services And Forecast To 2026

TechZiffy | August 27, 2019

The New Travel Expense Management Software Market 2019: Global Industry Analysis, Share, Growth, Trends and Forecasts to 2019 – 2026” report offers an in-depth Study of all Latest Advancement in the Travel Expense Management Software Industry. The Travel Expense Management Software report offers the plus points as well as weaknesses of the established market players. It analyses numerous features of the global Travel Expense Management Software market such as demand, drivers, challenges, and options. The report appraises the influence of these aspects on each market region during the estimated time. It presents the value chain analysis together with vendor list and highlights the present market situation between consumer and supplier.

Spotlight

The hospitality and leisure (H&L) industry is big and diverse; it has traditionally claimed some of the closest relationships with global consumers of any sector. People eat, sleep, play games, cement friendships and seek cures in H&L facilities. Given this dynamic, it isn’t surprising that the ability to create brand awareness campaigns that feel like one-on-one communication with potential customers—that is, campaigns that speak directly to customers’ preferences and desires—has always been a keystone of success for H&L companies. But recently, for many parts of the hospitality and leisure industry, that connection to consumers has frayed.

Spotlight

The hospitality and leisure (H&L) industry is big and diverse; it has traditionally claimed some of the closest relationships with global consumers of any sector. People eat, sleep, play games, cement friendships and seek cures in H&L facilities. Given this dynamic, it isn’t surprising that the ability to create brand awareness campaigns that feel like one-on-one communication with potential customers—that is, campaigns that speak directly to customers’ preferences and desires—has always been a keystone of success for H&L companies. But recently, for many parts of the hospitality and leisure industry, that connection to consumers has frayed.

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TRAVEL TECHNOLOGY,COMMERCIAL TRAVEL

Sabre, Conferma Pay and Mastercard Join Forces to Power the Travel Economy with Virtual Cards

Sabre Corporation,Conferma Pay and Mastercard | November 29, 2022

Sabre Corporation (NASDAQ: SABR) a leading software and technology provider that powers the global travel industry, and Conferma Pay, a global fintech firm that specializes in payment technology, announced a new partnership with Mastercard to accelerate the use of virtual cards for business-to-business (B2B) travel payments. Today's announcement builds on Sabre's August 2022 acquisition of Conferma Pay. The collaboration with Mastercard is the next step in advancing Sabre's goal to create an open and independent travel payment ecosystem. Digitization of travel payments with virtual cards helps address the historic challenges associated with B2B leisure and corporate travel payments. The securely generated, single use card numbers provide a link between booking and associated payments to third party suppliers. Travel buyers and suppliers are therefore able to easily track and reconcile payments, as well as benefit from flexible pricing, financing options, and enhanced security through card payment guarantees. "The payments industry is in the midst of a revolution and there is an increased need for travel companies to better manage the whole payment experience, Companies in the travel space – including travel management companies, travel agencies, corporations, issuers and technology partners – need sophisticated solutions and seamless connections. Sabre is taking strategic steps to fulfill the needs of our industry, beginning with the acquisition of Conferma Pay. Now, the new partnership with Mastercard will help Conferma Pay to build new and enhanced digital capabilities in virtual cards, transforming the payment experience for issuers." -Roshan Mendis, Executive Vice President and Chief Commercial Officer, Sabre Travel Solutions. As part of the agreement, Mastercard has agreed to make a minority investment in Conferma Pay, which will continue to operate independently and serve the entire travel industry and beyond. Mastercard's investment in Conferma Pay is subject to customary closing conditions. A combination of experience, technologies and capabilities will accelerate travel payment innovation and drive inclusive and sustainable growth for the sector, said Chris Fendley, Executive Vice President, Enterprise Partnerships at Mastercard. Virtual cards deliver visibility, boost liquidity and increase control over B2B payment flows, which enhance payment strategies and empower organizations across the travel value chain to run, grow and protect their business, which has never been more essential. Conferma Pay connects issuers to more than 700 travel management companies, all the major global distribution systems and more than 100 online booking tools. Conferma Pay is fully integrated with all the major card schemes and serves more than 50 banking partners, who issue Conferma Pay generated virtual cards in nearly 100 currencies. "We've already made significant inroads in the B2B travel space through partnering with Sabre, We are excited about the new investments. This, combined with our existing strong relationships, will enable Conferma Pay to build on our global footprint and be at the forefront of addressing industry challenges and opportunities." -Martin Cowley, interim CEO at Conferma Pay Sabre's Virtual Payments will continue to offer Conferma Pay services – with increased capabilities that help travel buyers, agencies and corporations best support travel customer needs. Sabre Virtual Payments is a unique, secure, automated and integrated end-to-end payment solution designed to simplify and add value to the transactions that TMCs, OTAs, travel agencies, corporations and travel suppliers do every day. Sabre Virtual Payments takes all the capabilities of Conferma Pay and its network of issuers and combines it with seamless integration across Sabre products for -connected travel buyers, agencies and corporations. About Sabre Corporation Sabre Corporation is a leading software and technology company that powers the global travel industry, serving a wide range of travel companies including airlines, hoteliers, travel agencies and other suppliers. The company provides retailing, distribution and fulfilment solutions that help its customers operate more efficiently, drive revenue and offer personalized traveler experiences. Through its leading travel marketplace, Sabre connects travel suppliers with buyers from around the globe. Sabre's technology platform manages more than $260B worth of global travel spend annually. Headquartered in Southlake, Texas, USA, Sabre serves customers in more than 160 countries around the world. For more information visit www.sabre.com. About Mastercard (NYSE: MA) Mastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments and businesses realize their greatest potential. Our decency quotient, or DQ, drives our culture and everything we do inside and outside of our company. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all. www.mastercard.com About Conferma Pay Conferma Pay is a global financial technology company. It designs and integrate virtual payment systems that provide a more efficient, seamless and secure way to pay for businesses. Conferma Pay was born in Manchester in 2005. Since then, it has connected over 700 TMCs, and directly integrates with all the major GDSs and OBTs. Its roots lie in corporate travel payment integration. It enables its payment providers to flow virtual cards into the preferred purchasing process of any business travel buyer. Crucial to this is its network of banking partners, who have issued virtual cards in over 200 countries, in 40 currencies with over 45 commercial banking partners via all major card networks. Its ecosystem continues to expand to meet the growing requirements of its global customer base.

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TRAVEL TECHNOLOGY, INDUSTRY OUTLOOK

Expedia Group Launches New Global Social Impact & Sustainability Strategy

Expedia Group | September 14, 2022

Expedia Group announced its new global social impact and sustainability strategy to advance a travel ecosystem that is responsible, open, and accessible to all. Combining the company’s mission, purpose, and values with its traveler-centric mindset, the Open World™ social impact and sustainability strategy is focused on three priorities – increasing access for underserved travelers, democratizing the travel economy, and innovating sustainable solutions for the future of travel. Earlier this year, the company announced its Open World technology platform – created for partners of all sizes to leverage and configure products and services needed to succeed in the travel ecosystem. Aligned with this innovation, and the belief that travel is a force for good, the next iteration of Open World extends to the traveler experience, community engagement, and environmental impact. “Travel is transformative. It broadens horizons, strengthens connections and changes perspectives. With our new Open World™ social impact and sustainability forward-looking plans, we will further our mission to power travel for everyone, everywhere,Travel needs to lighten its footprint on the planet, and everyone should be able to experience it and receive the associated benefits. Now is the time to innovate the existing model. We have a responsibility to enable a stronger, more sustainable industry.” -Peter Kern, Vice Chairman and Chief Executive Officer of Expedia Group. The Open World™ social impact and sustainability strategy will tackle inequities in travel, accelerate meaningful change for the mosaic of travelers and communities that power the global industry, and ensure a healthy planet. Expedia Group’s social impact and sustainability strategic framework includes: Inclusive pathways for underserved travelers Unfortunately, historic and social barriers still too often limit equitable and accessible travel. Per Expedia Group Media Solutions’ recent Inclusive Travel Insights Report1, demand is increasing as consumers are seeking more inclusive travel offerings when searching and booking. Expedia Group is increasing its own capabilities to improve the experience of underserved travelers by identifying and helping to lessen gaps. For example, Expedia.com has made improvements to accessibility filters to include options like elevators, service animal accommodations, roll-in showers, sign-language staff availability, and also expanded search features for travelers such as LGBTQIA+ welcoming properties. What’s Next? To ensure more people are able to experience all that travel has to offer​, Expedia Group will focus a portion of its giving to provide grants to impact-driven organizations working to remove barriers to travel for underserved communities around the world. ​ Economic advancement for communities underrepresented in travel Expedia Group is strengthening economic opportunity across the travel ecosystem to ensure more people and communities can benefit from the industry’s growth and associated benefits. Using the power of its technology platform to help diversify the business of travel, Expedia Group will support small and local businesses, particularly those focused on improving the representation and experience of underrepresented travelers. What’s Next? To help diversify the business of travel and meet traveler demand for more responsible options, Expedia Group will soon launch a program aimed at start-ups and small and medium-sized businesses in travel. Prosperous planet for generations to come Expedia Group recognizes the environmental toll that today’s travel industry often has on the planet and is committed to mobilizing its vast network of travelers, partners, and peers to innovate more sustainable business models and empower travelers to make more responsible choices. Fostering a healthy planet and a travel industry that mitigates and adapts to climate change is central to the Open World social impact and sustainability strategy. Expedia Group recently joined the Travalyst Coalition and signed the Glasgow Declaration for Climate Action in Tourism. Under the Glasgow Declaration, Expedia Group has committed to deliver plans that will support the global goals of cutting emissions in half over the next decade and allowing the travel industry to reach Net Zero emissions as soon as possible before 2050. The Travalyst Coalition enables these goals by allowing travel companies like Expedia Group to deliver unified sustainability frameworks and methodologies to travelers across the globe. What’s Next? Expedia Group is currently developing a long-term climate action plan and associated roadmap for greening its own operations while driving industry-wide change. A new program being developed in partnership with The Travel Foundation will offer training and practical guidance to destination marketing organizations (DMOs), enabling them to lead the way on climate action in tourism and catalyze meaningful change at a local level. These three priorities build upon Expedia Group’s foundation and ongoing commitment to philanthropy. Throughout the COVID-19 pandemic Expedia Group led programs including the Give the World a Shot initiative – a joint endeavor with UNICEF to enhance COVID-19 vaccination rates in communities around the world – as global, equitable access to the vaccine is in line with traveler values and essential to reopening the world to travel. Expedia Group donated approximately $10.5 million – vaccinating three million people and moving the travel industry one step closer to recovery. Learn more about Expedia Group’s past impact work in its 2021 Global Impact Report and latest Inclusion and Diversity Report. For additional information, visit www.expediagroup.com/who-we-are/Impact--Sustainability. The research for the Inclusive Travel Insights Report was conducted in collaboration with Wakefield Research, which included an online survey of 11,000 representatives, general population adults ages 18+ in 11 global markets – Australia, Brazil, Canada, China, France, Germany, India, Japan, Mexico, the UK and U.S. – fielded between February 11 and March 6, 2022. About Expedia Group Expedia Group, Inc. companies power travel for everyone, everywhere through our global platform. Driven by the core belief that travel is a force for good, we help people experience the world in new ways and build lasting connections. We provide industry-leading technology solutions to fuel partner growth and success, while facilitating memorable experiences for travelers. Our organization is made up of three pillars: Expedia Product & Technology, focused on the group’s product and technical strategy and offerings; Expedia Brands, housing all our consumer brands; and Expedia for Business, consisting of business-to-business solutions and relationships throughout the travel ecosystem. The Expedia Group family of brands includes: Expedia®, Hotels.com®, Expedia® Partner Solutions, Vrbo®, trivago®, Orbitz®, Travelocity®, Hotwire®, Wotif®, ebookers®, CheapTickets®, Expedia Group™ Media Solutions, CarRentals.com™, and Expedia Cruises™.

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DESTINATION AND TOURISM, HOSPITALITY TRENDS

Chartwell Hospitality Transforms Land in Brentwood and Lebanon for New Hotels

Chartwell Hospitality | October 28, 2022

Chartwell Hospitality announced it has purchased land in Brentwood and Lebanon, Tenn., to bring new hotels to these suburbs of Nashville. Chartwell Hospitality will transform the land in Brentwood into a TownePlace Suites by Marriott and will build a Home2 Suites by Hilton in Lebanon. Chartwell Hospitality has partnered with Rockbridge on both hotel projects. Chartwell Hospitality will develop and manage both properties.TownePlace Suites by Marriott offers guestrooms with full kitchens, outdoor community patios with grills, free Wi-Fi, on-site laundry, upscale fitness center, outdoor pool, and lobby marketplace. The Brentwood TownePlace Suites will feature 120 rooms and will be located in the East Park development of Maryland Farms. Chartwell Hospitality worked with Boyle Investment Company on their efforts to rezone the existing office building parcel to allow for hotel use. Chartwell Hospitality plans to demolish the existing obsolete Office Building #1 within East Park by the end of 2022 and redevelop the space into the TownePlace Suites. The firm plans to break ground on the hotel’s construction in the spring of 2023. Chartwell Hospitality will concurrently break ground in Lebanon, Tenn., for the 120-room Home2 Suites in the spring of 2023. Home2 Suites features an extended-stay hotel concept with complimentary hot breakfast, laundry and fitness areas, free Wi-Fi, multiple outdoor spaces, 24-hour business centers, expansive community spaces, and pet-friendly environments. “As Nashville grows and draws more tourists and new businesses, so do its surrounding towns and cities. We are excited to bring these two new hospitality options to the Brentwood and Lebanon communities and continue to support the growing tourism in Middle Tennessee," -Will Schaedle, Executive Vice President of Chartwell Hospitality. About Chartwell Hospitality Chartwell Hospitality is a fully integrated real estate company based in Nashville, Tennessee. We specialize in the acquisition, development, and management of high-quality, branded, limited- and full-service hotels. Founded in 2003, Chartwell consistently surpasses competition in occupancy and market rates. Simply, our mission is to be the best in the business. For more information, visit www.chartwellhospitality.com.

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