4 Ways to Lower Costs, Wow Travelers, and Drive Growth in Travel & Hospitality

The travel and hospitality (T&H) industry is taking a hard look at its business as travelers and guests return–with higher expectations than ever. T&H providers are seeking new efficiencies as costs remain high, interest rates climb, and a potential recession looms. After stretching the system beyond capacity with a ravenous post-pandemic appetite for adventure — or just a chance to get out of the house – travelers might already be hitting the pause button. Cost cutting is certainly a watchword of the moment, but better customer experiences will remain the key to competitive advantage.

The most successful companies will try to ramp up productivity by doing three things: one, giving employees tools that automate routine tasks; two, making them smarter by unifying data into a single source of truth, and three, by drawing out insights with artificial intelligence (AI). Indeed, Accenture research shows that future-ready operations are 1.7x more efficient and 2.8x more profitable than the competition. 

But exceptional travel experiences are and will remain the best way to wow travelers and guests–and that’s the best way to drive efficient growth. So, let’s talk about some steps travel and hospitality companies can take to over-perform for travelers and guests before, during, and after their travel experiences.