In seeking a barometer of the state of the travel industry, we posed a series of questions to industry leaders to get a measure of how they view - and are reacting to - the ever-changing status-quo in the post-Covid world.
The volume will take some years to recover, but it will. The value proposition has been up for review, but except for some optimisations the path remains the same. The relationship with customers has become closer and there will be uncertainties with regards to the supply chain. These are just a few thoughts, but read for yourself.
Our next interviewee is Nick Reynolds, Commercial Director at agiito. Thank you Nick for taking the time to answer our questions.
What will be the most relevant difference in “post-crisis travelling” in comparison to what we were used to?
Volume will be less in short to medium term, because it will take a couple of years to deploy the vaccines globally. This will have a knock on effect on how and when people travel and the appropriate support (advice and guidance) they will seek.
Is Covid just another crisis for the industry to weather, like 9-11?
Initially I felt otherwise, however in the last 6 months, although it has and continues to have a traumatic impact on the travel, events and meetings industry, materially people will revert back to what they know and love.
Have the last 18 months forced your company to re-evaluate your value proposition?
After evaluating our proposition, very little has changed. Although we have cut back in some areas due to reduced resources and endeavouring to simplify aspects, we remain on the same path.
How will you measure and articulate your value back to market after travel resumes?
We have increased our communication with our customers, travellers, partners and trade organisation, so we are front and centre when they share a change in their needs.
Aside from volumetric, what commercial challenges do you see in the short/medium term for your business?
Delayed/deferred travel plans and travel plan disruptions will be common over the next 12 months, impacting the whole supply change with uncertainty with availability and yield.
What is your view on the industry’s reaction to crisis and what can we learn for the future?
Much of the crisis has been out of the control and influence of the industry as a result the response has largely needed to be centred around the individual need of each organisation first followed by a degree of unity. At the root of this need is the need to survive the crisis and to be a player doing the recovery.
Do you feel that current travel tech providers are able to react to new market demands?
In the main, yes however that will only become more evident as the industry continues to recover from the pandemic.
Who do you think are the companies to watch in the coming years and why?
Googles influence over Sabre and Microsoft influence within Amadeus
What do you think the market will look like ten years from now?
Bigger and better digital booking services and fewer niche market full service (traditional) agencies