AI and booking systems top priorities for travel tech stacks
Travel industry set to increase investment in technology with AI and booking systems taking poll position in tech stacks as websites declared most effective at driving bookings
- European travel companies offer their views on key travel technology trends for the year ahead
- TravelTech Show visitor registration is now open ahead of the show taking place 19-20 June 2024 at ExCeL London
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Often seen as a key driver for bookings social media looks set to be in potential decline as websites were voted as the best for driving bookings (40 per cent), followed by OTAs at 20 per cent, and search engines and social media sharing joint third position for 16 per cent of buyers. With an ever-increasing number of tools and platforms coming to the market, whilst operators are aware of what the options are, they are also keeping a keen eye on where and how they are having an impact on operations, revenue and profitability. Over two thirds (68 per cent) stated that technology is helping to mitigate the impact of inflation and staff shortages. More broadly the main benefits of technology are seen as increased efficiency (32 per cent), followed by increased revenue and profitability, guest relations and personalisation and managing bookings all sharing second place for 12 per cent of buyers each. Commenting on the results of the survey, Nimet Sayeed, Event Manager, TravelTech Show said, “Unquestionably travel companies are keeping a keener eye than ever before on attracting new bookings, response rates and meeting customer needs. All of which continue to take priority against the backdrop of continuous market changes, whilst at the same time seeking to deliver profitability and growth. New solutions entering the market offer a practical and effective roadmap to achieving these objectives. Whilst the majority of companies are set to increase their investment in new technology in the year ahead, to ensure a return on that investment, and for any new technology to be effective, it is vital that operators have a clear and present understanding of what their business challenges and objectives are so that they can implement the best-fit solution to their tech stack.“There has been a marked shift towards greater online interaction and behaviour by both the customer and the operator in recent times, for every stage of the customer journey. For many operators much of their success is down to the agility and efficiency technology delivers. As AI continues to evolve, arguably it might be regarded as a ‘one stop shop’, that can answer many of the questions that operators are being faced with. This year’s TravelTech Show will enable operators to find out more about just how many questions AI and other solutions can answer across the two-day programme of exhibitors, panels and networking sessions.”100 travel and travel technology company representatives took part in the survey in April 2024.TravelTech Show takes place from 19 – 20 June 2024 at ExCeL, London. Please note: TravelTech Show is free to attend for travel technology specialists involved in or responsible for the technology within their travel business and consultants who help travel businesses select technology solutions. Suppliers must purchase a visitor pass if they wish to attend. TravelTech Show has the final right to accept or deny any registration."
About TravelTech Show:
TravelTech Show (formerly Travel Technology Europe) unites thousands of senior commercial, digital and marketing decision-makers with the broadest range of innovative B2B travel and technology services to help them deliver excellent customer experiences.TravelTech Show has been running for 21 years as a face-to-face exhibition based in several venues in London, UK. During this time, the event has carved out a niche role to provide European marketing, digital and commercial technology specialists in the travel industry with the relevant software to enhance business efficiency and performance.Read about award-winning global mobility, leadership and education in the upcoming Summer issue of Think Global People magazine, which will reveal the teams and organisations being celebrated in the Relocate Think Global People Awards 2024. Secure your copy here.
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