The Tech Transformation Imperative in Hospitality and Travel — Source: APS® (Above Property® Services) We have officially entered a new calendar year, and the hospitality and travel industry has reached a digital tipping point. There is no better time to initiate the digitization process before it is too late to catch up. To this effect, global spending on digital transformation is expected to reach $6.8 trillion by the end of this year. Moreover, 87% of business leaders think the digital transformation will disrupt their industry, and companies with digital-first strategies are reportedly 64% more likely to achieve their business goals than competitors. In what could perhaps be referred to as a digital transformation boom, Deloitte reports that implementing digital technologies helps accelerate progress towards enterprise goals such as financial returns, workforce diversity, and environmental targets by 22%. In that same breath, PTC reports that executives cite enhanced operational efficiency (40%), faster time to market (36%), and meeting customer expectations (35%) (PTC, 2018) as the top benefits of digital transformation. As industry experts continue to divulge their predictions for those areas of business best primed for transformation, a great deal of consideration has been given to the future of travel. […]
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