To quote the famous lyricist Bob Dylan, “The times they are a-changing” and perhaps never more so than now. Both across the travel and travel technology industries with the advance of AI to name just one development, and more broadly across global economic and political landscapes. Indeed 2024 has been declared a record year for voting with elections in over 40 countries scheduled as over 40 per cent of the world’s population takes to the polls across India, Mexico, Russia, the United States and the United Kingdom to name just a few.   For travel operators and travel technology suppliers there is then a need to keep a keen eye on developments both in their own stable as well as further afield.   Ahead of the upcoming TravelTech Show we polled attending buyers to get an understanding of what they felt the main challenges were facing the travel technology industry and where attention needs to be paid for future R&D.   The answers of integration, cost and skills shortages may not be surprising but what is certainly clear is alongside these internal industry challenges, there is also concern around the impact that the ballot boxes worldwide may have on future operations, legislation and trade agreements. So how can we understand these challenges and in turn what might the solutions be? Here I share my thoughts along with some of the expert speakers attending this year’s show.   Integration   Looking closer to home the challenge of integration with existing platforms is always top of the to do list when buyers are planning to invest in and develop their tech stacks and portfolio of solutions, as identified by nearly a quarter (24 per cent) of those we polled recently.   Indeed, there can be a disconnect between new technologies which often struggle to integrate with legacy systems, resulting in inefficiencies and data silos. By the same token, disparate data formats and standards across different systems can complicate integration efforts.   Reassuringly relief to the integration challenge is available in the form of API development. Creating robust, flexible APIs can facilitate smoother integration with existing platforms. In the same vein, implementing middleware solutions can bridge the gap between new and old systems and help standardise data and streamline processes. More broadly, as the platform and solution landscape shifts and expands, the need for and value of collaborative standards is widely acknowledged. Encouraging industry-wide standards for data formats can be invaluable in tackling compatibility issues.   Cost   Cost is also a considerable challenge for many. Not surprising when you consider that developing new technologies and the time and resource required to integrate them into existing systems can be expensive. Coupled with the fact that many travel companies are also operating on tight budgets, especially post-pandemic. How can operators and developers then better balance the books? As more and more operators are realising, and as legacy systems are all but all retired, leveraging cloud-based solutions can reduce infrastructure costs and provide flexible, pay-as-you-go options. For operators looking to appoint a new solution and for developers keen to market new solutions, many costs can be managed with a scalable approach: developing scalable technologies that can be implemented incrementally. Ali Beklen from Hotelrunner also advises, “Opting for comprehensive platforms with subscription-based pricing can reduce upfront cost.” Keep in mind that operator and supplier alike can also mutually benefit from a partnership-based approach, whether partnering with other companies or technology providers, this can help to share resources and spread the cost-load.   Staffing and the skills gap   Post- pandemic whilst the travel and particularly the hospitality industry has been charged with navigating the impact of staff shortages and unquestionably technology has proven an essential ally in filling the skills gap, there is a shortage of skilled professionals in key areas such as AI, data analytics, and cybersecurity. Maintaining a relevant skillset that keeps up with the rapid pace of technological change also requires continuous learning and upskilling, which can be resource-intensive.   For both operators and suppliers, the answers lie with training and development programmes that can offer progression and upskilling of existing employees and competitive salaries. Staff that feel they are invested in are also more likely to stay, so whilst there may be a cost in the short term, gains from lower staff turnover and an upskilled, more qualified workforce will be felt in the long term. From a future-proofing perspective, also consider collaborating with educational institutions to create specialised programmes and internships that offer career opportunities to help prepare students for careers in travel and travel technology to attract and secure the next generation of talent.   Geopolitical and economic uncertainty   Parliamentary elections across Europe and worldwide, including the UK general election now scheduled for July, means there is expected to be much widespread change to come. Who knows how that will transpire in the next 12 months. Whilst we can’t predict what those changes will be, it is fair to expect a degree of change to market conditions and potentially legislative and regulatory changes as new policies are put in place. Such changes can make trading conditions, particularly for travel operators, difficult and may lead to reduced demand for travel and investment in travel technology. Whilst the impact of this cannot be avoided entirely, operators can work to mitigate against them. Specifically, by developing adaptable technology solutions that can quickly respond to changing market conditions and regulations, implementing robust risk management strategies to mitigate the impact of economic and geopolitical volatility and diversifying by expanding into different markets or sectors to spread risk and reduce dependency on any single region. Ali Beklen from Hotelrunner suggests “using predictive analytics to forecast trends and maintaining flexible booking and cancellation policies will help build customer confidence. With proactive strategies and leveraging the right technologies, businesses can navigate these obstacles and achieve sustainable growth”. If opening a local office isn’t feasible consider forming an alliance with a local partner in markets that are strategically important to your business so that you can gain an on the ground, current view on, and plan for, any changes that may impact your operations as a result of a new government or new policies. Paul Stephen from the Remarkable Group also highlights the role marketing has to play in managing the impact of wider changes as he advises, “From a digital marketing and platforms perspective, so much is accessible to Travel companies of any size it has levelled the playing field. It leaves many large established players being challenged by newer and smaller companies who have embraced and grasped emerging SaaS models, Distribution Channels, Social Marketing strategies and AI to gain competitive advantage.   To learn more about these challenges and hear expert advice on the solutions available register for your ticket to attend this year’s TravelTech Show which takes place at London’s ExCeL on 19^th and 20^th June 2024.

 

Resources required to implement new technology platforms and maintaining customer satisfaction rank highest as challenges for the year ahead

 

• The Gadget Show’s Jason Bradbury and Google’s Susie Vowinkel confirmed as keynote speakers for 2024 edition of TravelTech Show
• Visitor registration is now openahead of the show taking place 19-20 June 2024 at ExCeL London

  With just one month to go until TravelTech Show opens its doors on 19 June, organisers of this year’s show have released further findings from its research, highlighting the challenges felt by buyers.   Over a third (34 per cent) stated that both implementation time for new solutions or platforms and balancing budgets in line with the cost of new technology, are their biggest challenges over the next 12 months. These were closely followed by 29 per cent who stated that for them the biggest challenges were customer retention and improving the customer experience.   The news comes as TravelTech Show also announces further details on speakers and content for this year’s revitalised programme which includes more opportunities to learn about the latest trends and developments across the sector, gain valuable insight and advice from expert speakers and meet the newest suppliers and solutions.   The keynote speakers for 2024 are Jason Bradbury, former host of The Gadget Show opening the show on 19 June with his take on where AI will take us in the next decade, and Susie Vowinkel, managing director of travel for Google, who will be sharing the latest insights on travel from the search engine giant to kick off day two on 20 June.   In addition to the keynote speeches, this year’s show sees the return of the Expert Advice Hub, which will enable buyers to pre-book appointments with an industry expert and gain invaluable advice on topics including marketing and sales strategy, winning and keeping news customers funding strategies and emerging tech, to name just a few.   Ahead of the show, visitors are also encouraged to cast their vote for the winner of this year’s Trailblazer Awards. Pitches from all 10 finalists are available to view now on the TravelTech Show website, where visitors can also vote ahead of the closing date of 31^st May. Each finalist is under 40 months old and will also take part in a Trailblazer Panel at the show to present their solution and showcase how their technology is working to transform the travel industry, before the winner is announced on 20 June.   Commenting on the latest results of the survey and the programme for this year’s show, Nimet Sayeed, Event Manager, TravelTech Show said, “The pace of travel technology development, whilst exciting, can present challenges for travel companies and buyers if not effectively planned and managed. Any significant change in operating systems requires time and money as well as the right and best-fit implementation with existing solutions, which can seem a daunting prospect. Reassuringly the wealth of solutions and integrations available to streamline both operations and the customer journey mean it doesn’t have to be.   “Likewise, the ever-increasing advance of online adoption means operators are in a better qualified position than ever before to understand and engage with customers to ensure that not only are they enhancing the customer experience, but also critically, retaining them to secure sustainable profitability.   “In building the programme for this year’s TravelTech Show we have worked to ensure that not only do we have market leading experts available to listen to across the panel and speaker sessions, but there are a number of ways for buyers and suppliers to meet and engage face to face to learn more about the answers available to the challenges of implementation, cost, customer management and more.”   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."

New data from TravelTech Show has revealed the latest key trends and priorities for travel companies. Most significantly, 62% of travel buyers said they expect their budgets to increase over the next 12 months with over a quarter (28%) expected to be by as much as 20% more. Tech leaders will gather next month for the TravelTech Show from 19 – 20 June 2024 at ExCeL, London. Travel AI looks set to take the lion's share of those budgets with over half (56%) stating they are planning to invest in it over the next year. This is followed by booking and reservation systems for 32% of respondents and mobile and apps for 20%. In a similar vein, 80% also stated they plan to increase their use of AI specifically in the year ahead. Nearly a third expect to see it having the biggest impact on customer service and customer experience. 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%), followed by OTAs at 20%. Social media shared joint third position for 16% of buyers. Over two thirds of respondents (68%) 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%), followed by increased revenue and profitability. 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.” “New solutions entering the market offer a practical and effective roadmap to achieving these objectives.” Around 100 travel and travel technology company representatives took part in the survey conducted in April 2024.

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  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 Showvisitor registration is now open ahead of the show taking place 19-20 June 2024 at ExCeL London

  Ahead of this year’s event, new data from TravelTech Show has revealed the key trends and priorities of travel companies. Most significantly, 62 per cent of travel buyer respondents said they expect their budgets to increase over the next 12 months with over a quarter (28 per cent) of increases expected to be by as much as 20 per cent.   AI looks set to take the lion’s share of those budgets with over half (56 per cent) stating they are planning to invest in it over the next year. Followed by booking and reservation systems for 32 per cent of respondents and mobile and apps for 20 per cent. In a similar vein, 80 per cent also stated they plan to increase their use of AI specifically in the year ahead. Nearly a third (32 per cent) expect to see it having the biggest impact on customer service and customer experience (CX), whilst almost a quarter (24 per cent) state it will add value to applying customer preferences to make targeted recommendations. A fifth (20 per cent) expect it to have the most impact on booking assistants.   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."

  TravelTech Show, which takes place 29-30 June 2022, has revealed this year’s five Trailblazer Awards finalists. Cruisewatch, ClueCation, Octopus Travel Matrix, Travel Ledger and TripMatrix will all battle it out for this year’s crown in front of an esteemed judging panel at 3:30pm on Wednesday 29 June in the show’s Turing Theatre. Each of the five start-ups also successfully applied for a Trailblazer bursary giving them up to an 80% discount on their TravelTech Show stand. This year’s judges are:  

• Jon Pickles, Travel Technology Consultant
• Walter Toscano, Digital Travel Practice - Senior Advisor - Travel and Telecom
• David Haigh, Head of IT - If Only and Elegant Resorts
• Paul Curtis, Chief Technology Officer - easyJet Holidays
• Giora Feldman, CTO - Villa Plus

  “TravelTech Show has innovation oozing through its veins and this year we’re delighted to direct hundreds of budget holders and decision makers towards our 2022 Trailblazers,” said Ryan Taylor, event director. “All young businesses with big ideas, we just know that this year’s disruptive startups are set to revolutionise the travel industry.”   This year’s five finalists are:  

1. Cruisewatch- stand L40 – TB2 - a German travel tech startup backed by VC funding, Cruisewatch is revolutionising travel industry consulting around the globe with the help of AI. Its data-driven technology simplifies the consulting process, finds intelligent solutions and digitises the sales process.

 

2. ClueCation – stand M71 - TB1- a UK based travel tech company specialising in the gamification of self-guided travel, ClueCation creates experiences that help travellers explore destinations in a truly immersive way, connecting them with the cultures, people and places they visit.

 

3. Octopus Travel Matrix– stand M70 – TB4 – exists to help tour operators grow without increasing headcount, overheads or stress. Its powerful automation tools help streamline tour operators and to up-sell services to clients to increase margin on their tours. This means the tour operator gets regularly updated software, which is always evolving to meet the ever-changing demands of the travel sector.

 

4. Travel Ledger– stand M70 – TB3 – an electronic invoice and remittance system which is connected to UK and European banking for easy and secure payments between travel buyers and suppliers. Travel Ledger will replace the current billing, reconciliation and settlement process to make it fast, easy and inexpensive to transact non-airline provided travel services.

 

5. TripMatrix– stand M70-TB6 - commission-based all-in-one travel agency software for selling and managing travel products and services. Travel agencies, tour operators and DMCs of all sizes use TripMatrix to manage their day-to-day business. Built in the Cloud with intuitive design, and available across all devices, makes TripMatrix software easy to use, easy to learn, and easy to teach.

  TravelTech Show returns in-person on 29-30 June to brand new home ExCeL London bringing together hundreds of senior travel and tourism technology specialists and over 50 exhibitors for high-level, in-person networking and a premium conference agenda. Registration is open now with free tickets available to qualified travel technology decision-makers from the retail/corporate travel, tourism and hospitality sectors. This year, the event is co-located with Business Travel Show Europe and The Meetings Show.  

 

• 74% per cent of travel tech professionals said they will be investing in Web 3.0 as a marketing tool
• Other statistics reveal if budget wasn’t an issue travel tech professionals would implement AI, booking apps and automation
• Visitor registration now open at traveltech-show.com

  New data from TravelTech Show shows that 74 per cent of industry professionals will be investing in Web 3.0 as a marketing tool. Only 3 per cent said they wouldn’t and the rest remain undecided. The survey also revealed 36 per cent are interested in AI specifically and how it can help sell travel while 14 per cent are keen to investigate the metaverse’s potential to promote their brands.  

Will you be investing in Web 3.0 as a marketing tool?
Yes	20%
Yes, we’re interested in AI, and how it can help sell travel	36%
Yes, we’re interested in investigating the Metaverse, and how it can help sell travel	14%
Yes, we’re interested in investigating NFTs, and if they can help sell travel	2%
Yes, we’re interested in investigating blockchain, and how it can help sell travel	2%
No	3%
I don’t know	22%
Other	2%

  The survey also asked travel tech professionals ‘If you had a magic wand and budget, time and resources were not an issue, what technology would you implement in your business today?’ As well as innovative payment methods and seamless omnichannel, the most popular answers were;  

1. Artificial intelligence (AI)
2. Booking apps
3. Automation

  Ryan Taylor, Event Manager, Northstar Travel Group:   “There’s been a lot of chat about Web 3.0 and how it’s going to change the way brands reach consumers, especially with the potential for AI and machine learning to provide hyper-personalised content and for the Metaverse to reach a younger, more digital-savvy audience. At TravelTech Show, visitors will find tech at the forefront of this revolution; tech that is designed to help them create massively improved customer experiences that will increase loyalty, yield and revenue.”   Facebook owner Meta also touches on Web 3.0 in the day one keynote at TravelTech Show in a little under three weeks’ time. Entitled ‘Meta and travel: the future for Facebook, Instagram, WhatsApp and VR’, Karlijn Vogel-Meijer, Head of Industry at Meta, will talk about the role of WhatsApp in the pandemic, the new world of virtual reality and travel marketing on Instagram and Facebook.   TravelTech Show returns in-person on 29-30 June to brand new home ExCeL London bringing together hundreds of senior travel and tourism technology specialists and over 50 exhibitors for high-level, in-person networking and a premium conference agenda. Registration is open now with free tickets available to qualified travel technology decision-makers from the retail/corporate travel, tourism and hospitality sectors. This year, the event is co-located with Business Travel Show Europe and The Meetings Show.   Notes to editors:   Online visitor registration is now open for TravelTech Show at www.traveltech-show.com   For more information, please contact:   Bonnie Simpson or Charlie Le Rougetel or at [email protected] and 07834 347644/07736 330676.   Follow us www.twitter.com/traveltech_show - #TTShow Join us on LinkedIn: https://www.linkedin.com/company/travel-tech-show/ Like us on Facebook http://www.facebook.com/traveltechshow22

 

• 97 per cent of travel tech professionals believe tech will help travel emerge stronger from covid
• AI, CRM and OBT’s voted top three tech to assist recovery
• Economic uncertainty remains biggest challenge facing travel tech industry
• Visitor registration now open at traveltech-show.com

  New data from TravelTech Show shows that 97 per cent of industry professionals believe tech can help travel emerge stronger from Covid. Asked ‘what tech in particular?’, the poll of over 100 buyers and suppliers responded with artificial intelligence, customer relationship management, online booking tools, self-service portals and innovative payment methods as the top five.  

What tech in particular do you think will help us emerge stronger from Covid?
Artificial intelligence	49%
Customer relationship management	47%
Online booking tools	44%
Self-service portals	34%
Innovative payment methods	25%

  Brian Sheerin, managing director of TravelTech Show exhibitor SABS Travel Technologies, explained, “With travel experiencing major issues in the recruitment of trained, high-quality resources, the part that online booking tools can play has never been more important. While other sectors will claim that they have issues with recruitment, travel was the first affected by the pandemic and the last to be allowed to recover. Customers may be willing to tolerate missing items on supermarket shelves or longer queues at the bar, but they are not willing to tolerate long "queues" to book their travel arrangements and they expect the same level of service that they enjoyed pre pandemic.”   He added, “Allowing travellers to self-book through an OBT whilst still providing simple methods to communicate, such as online chat, are key to reducing customer frustration and allowing travel businesses the space to restructure, to resource and to meet customer expectations. OBTs were already playing a massive part in booking travel pre-pandemic and now it is even more important in the role of rebuilding the sector and customer confidence in it.”   The survey has also revealed the top five challenges facing travel tech right now with economic uncertainty remaining in poll position (52 per cent voted it top). The pressure to be more sustainable – which entered the chart for the first time in 2020 – has dropped down to seventh position, while Covid-19 travel restrictions entered at number two.  

What are the biggest challenges facing the travel tech industry?
2022		2020
Challenges	Percentage	Challenges	Percentage
Economic uncertainty	52%	Economic uncertainty	53%
Covid-19 travel restrictions	46%	Sustainable travel	45%
Climate change	36%	Climate change	44%
Cyber security	20%	Technology skills gap	40%
Technology skills gap	20%	Brexit	25%
Terrorism	20%	Terrorism	24%
Sustainable Travel	11%	Cyber Security	20%

  Customer retention remains an issue for travel tech professionals, who were asked to pinpoint the biggest challenges they are facing over the next 12 months, followed by finding new talent (42 per cent) and improving the customer journey (41 per cent);  

1. Customer retention - 49 per cent
2. Finding new talent – 42 per cent
3. Improving customer journey – 41 per cent

  TravelTech Show returns in-person on 29-30 June to brand new home ExCeL London bringing together hundreds of senior travel and tourism technology specialists and over 70 exhibitors for high-level, in-person networking and a premium conference agenda. Registration is open now with free tickets available to qualified travel technology decision-makers from the retail/corporate travel, tourism and hospitality sectors. This year, the event is co-located with Business Travel Show Europe and The Meetings Show.   Notes to editors:   Online visitor registration is now open for TravelTech Show at www.traveltech-show.com   For more information, please contact:   Bonnie Simpson or Charlie Le Rougetel or at [email protected] and 07834 347644/07736 330676.   Follow us www.twitter.com/traveltech_show - #TTShow Join us on LinkedIn: https://www.linkedin.com/company/travel-tech-show/ Like us on Facebook http://www.facebook.com/traveltechshow22

  The CEO of London’s largest events venue – ExCeL London – has heralded today’s announcement on the Elizabeth line opening as a ‘game-changer’ for the city and the recovery of the UK’s £32.1 billion events industry.   With the Royal Docks venue now having its own dedicated Elizabeth line station, in addition to two existing DLR stops, CEO Jeremy Rees says it will cut journey times by up to two thirds when it opens on May 24th, with the resulting time saved leading to a significant increase in networking and commercial trade from delegates.   Furthermore, according to a recent report by i-Transport, the new line will see the number of people within 45 minutes rail travel time of ExCeL increase by up to 68%, and those living within 120 minutes (by rail) rising to 9.2 million.   The high-speed Elizabeth line – which now becomes part of the existing TFL network – stretches more than 60 miles from Reading and Heathrow in the west to Shenfield and Abbey Wood in the east, with 24 trains running per hour once fully operational. For ExCeL, visitors from central London will now be able to reach the venue in as little as 12 minutes, whilst door-to-door from Heathrow Airport will be just 43 minutes.   Rees commented: “Following unprecedented times for us all, this year is critical to the recovery of the live events industry across London and the UK. Today’s announcement that the Elizabeth line will open on May 24th is undoubtedly a game-changer that will both revolutionise and spearhead that revival.   “In addition to reducing journey times and expanding catchment areas, we expect to see an even higher percentage of C-Suite delegates attending our events as a direct consequence. In short, the Elizabeth line will give people more of that most precious of commodities – time – allowing them increased opportunities to network, learn and of course trade – just as we saw pre-pandemic when some £165 billion was transacted per year at UK events.”   He added: “ExCeL is now arguably the world’s most connected event venue with two underground lines, one mainline station, an airport, road links, bus services, water taxis and even a cable car all within earshot.”   Since reopening last summer, ExCeL has welcomed more than 1.5 million visitors to the venue and is set to host 350 events this year including the all-electric Formula E championship (30th – 31st July) and the International Liver Congress (22nd – 26th June). ExCeL has also embarked on an impressive 25,000sqm expansion programme to further enhance its world-class facilities and demonstrating further confidence in the return of live face-to-face events.