If you are a travel enthusiast and not aware of Travel Tech, then you need to read this post until the end. Travel technology was originally associated with the CRS (computer reservations system) of the airline industry. However, now it has widespread implementations incorporating the broader tourism sector. It also has a significant application in the subset sector of the travel industry, which is the hospitality industry. It is also termed as e-travel / etravel or e-tourism / tourism, in reference to “electronic travel” or “electronic tourism.” The Travel Technology Association, also known as travel tech, plays a crucial role in the travel technology industry. Read this post until the end to learn more.
Travel Tech: An Overview
The Travel Technology Association (Travel Tech) is the industry’s voice. It advocates for public policy that encourages innovation and preserves customer preference by promoting openness and competitiveness in the marketplace. Besides, it represents the leading innovators in travel technology industry. It may include Global Distribution Systems, online travel agencies and metasearch companies, and short-term rental platforms.
Travel Tech Member Companies
Travel Tech member companies are independent, multi-supplier companies whose technology has transformed the travel marketplace from end to end – from the way individuals plan, search and book travel, to the way suppliers market and sell to their customers – creating new efficiencies, promoting competition, and ensuring consumers and travel agents see the full picture. The innovative technologies these companies develop, along with the competitive marketplace they facilitate, have resulted in a travel economy that is more efficient, more affordable, and more accessible for millions around the globe.
Travel Technology Association Members
Travel Tech members are the industry’s leading innovators in travel, with innovations that change the way we search for, schedule, and book travel, link us with new choices, and enable us to share personal travel reviews. These businesses are divided into five groups:
1: Global Distribution Systems
GDSs are data networks that link service providers (airlines, hotels, cruises, car rental companies, and tour companies) with travel agents in the travel industry. These companies assist us in booking more than 60 million hotel rooms, 50% of all flights worldwide, and countless cruises, car rentals, and tours via real-time, automated transactions. These companies also provide IT services to airlines, airports, hotels, and other hospitality organizations.
2: Online Travel Agencies
Consumer-facing websites that offer empowering and creative ways to shop, compare, and buy flights, hotels, rental cars, and other travel services are known as online travel agencies (OTAs). These companies play a critical role in providing customers with inexpensive, easy, and attractive travel choices. They are an invaluable tool for fostering competitiveness in the travel and tourism industry and providing market access to newcomers.
3: Short-Term Rental Platforms
With creative networks that connect travelers to local economies, short-term rental innovators are changing the way millions of people travel around the world. Short-term rentals have been around for decades, but they’ve grown in popularity as technology has made them more accessible and affordable.
4: Metasearch Platforms
Metasearch engines empower consumers by displaying travel options and directing them to supplier and online travel agents (OTA) websites and apps to book their travel. Recent studies suggest that about 50% of all consumers start their search on metasearch platforms.
These competitive search engines provide customers with all available travel options at the lowest possible price and in the quickest possible time. More choices and lower-cost alternatives are available to consumers as a result of the dynamic marketplace.
5: Travel Management Companies
Travel Management Companies (TMCs) are travel agents that fully manage the business travel requirements for individuals, companies, and organizations. TMCs, as the industry’s leading experts in travel management, use cutting-edge technology to help businesses save time and money.
These business travel agents go beyond and beyond to provide trustworthy traveller care, whether it’s finding the best flight and hotel choices, sharing local details and deals, or simply keeping employees aware and secure while on the road.
Priorities Of Travel Tech
Travel technology is the implementation of the Information Technology, ot Information and Communication technology in the tour, travel, and hospitality industry. It is also known as hospitality technology, or tourism technology. Flight tracking, pre-travel preparation by online travel agents, and systems that enable visitors to review their experiences are all examples of travel technology. The main priorities of Travel Tech are stated in the below-given list:
Consumer Choice and Efficiency
Travel Tech’s members have created and maintained a marketplace where suppliers must compete for consumers on price and service, and consumers can see all of their options in one place. Efficiency is paramount to the consumer shopping experience.
Consumers deserve easy access and awareness of all the costs they’re expected to pay when traveling, including any fees or charges for ancillary services.
Travel Tech’s members are among the world’s technology leaders. The innovative platforms they have developed benefit all aspects of the travel ecosystem. It is good for suppliers, consumers, and travel agents around the world.
What Are The Advantages Of Travel Technology?
The list of the primary advantages of travel tech is stated in the below-given list:
Deployment Of The Enhanced Technologies
Travelers’ access to and use of travel-related knowledge is changing as a result of technological advancements. The experience for many businesses and locations begins well before a visitor arrives. Pre-travel planning is an essential part of trip planning because it allows customers to learn more about their upcoming trip. One of the best places to get details about trip planning is the internet. Users can check for videos, social media updates, customer feedback. Besides, they can look for shopping and dining locations, and upcoming events all in one place.
Reach To The Online Travel Agencies
Consumers and travel professionals can easily access booking engines, which enable them to make reservations and compare prices. Online travel companies like expedia.com have made a significant contribution to how the travel and tourism markets have evolved as a result of technological advancements. These online travel agencies assist users in planning and booking trips by comparing hotels, flights, holiday packages, costs, and more in one convenient location. Above all, the shift from in-person to online travel agencies gives customers more control over their vacation planning.
Customer Reviews To Share Experiences
The rise of review websites has had a significant effect on the tourism industry as well. Users can read, share, and engage with reviews of other people’s travel experiences and attractions on sites like tripadvisor.com. Electronic word of mouth, or eWOM, has had a significant impact on consumer perceptions and behaviors. Furthermore, it can result in a variety of product preferences and planning considerations.
Social Media And Mobile Technology
The tourism industry has been greatly impacted by the advent of smartphones and mobile apps. Users may gather general information from social media posts that are free of marketing bias. Users can tag and share their locations using GPS and social media apps. Travelers no longer need to print directions and can now use map apps to navigate.
Without using a review site, social media users can search for places on social media sites and learn more about them. Traveling has also become simpler thanks to apps like Uber and Lyft. Users no longer need to schedule transportation to and from an airport or another location in advance. You may use Uber and Lyft instead of renting a vehicle.
Whether it’s a tablet, computer, or phone, many travellers bring some kind of mobile communication device with them on the road. Many tourism and hospitality companies use mobile communication to keep consumers informed of changes; they submit delay notifications, give discounts, and sponsor location-based ads. Depending on the type of company, contact can take the form of emails, text messages, or GPS tracking for instance.
This post elaborates on the advantages of Travel Tech for travel enthusiasts. If you liked reading the post, then our blog section has more for you. Make a visit.