Airline and agency decision-makers reveal
shifts in travel as part of new Sabre research launched
today
- Two-thirds of travel leaders participating in the survey
indicated that they believe travel will fully return to
pre-pandemic levels by the end of 2024, with one third indicating
in the survey that they believe this will happen in 2025 or
beyond
- Study highlights retail opportunity for travel industry from
travelers' spend on "revenge travel"
- Survey indicates that complexity is likely to become
increasingly challenging for the industry, with travelers now
considering more decision factors before booking a trip – survey
results indicate need for industry to be nimble to address evolving
landscape
SOUTHLAKE, Texas, May 5, 2022
/PRNewswire/ -- Sabre Corporation (NASDAQ: SABR),
a leading software and technology provider that powers the global
travel industry, today released a new global travel industry study,
'Mapping Travel's New Normal', which identifies prominent shifts in
travel.
The wide-ranging study highlights the different areas of focus
for airlines and agencies as both sectors seek to capture
opportunities for recovery and for future growth.
Commissioned by Sabre and carried out by Munich-based management consultancy Dr. Fried
& Partners, the study involved both quantitative and
qualitative research with 500+ decision-makers from airlines
and travel agencies. Respondents were surveyed in eight
languages across 20 countries in EMEA, APAC and the Americas, along
with in-depth interviews with selected industry leaders.
Participants were questioned about the impact of the pandemic on
their customers and their businesses, as well as the implications
for the future of the travel industry. Key findings cover the
differing priorities of airlines and agencies as both sectors
prepare to address potential recovery opportunities and create new
opportunities for growth, as well as differences in technological
investment priorities by global regions. Findings include:
- More than a third of airline and agency leaders participating
in the survey indicated that they believe travel will return to
pre-pandemic levels by the end of 2024; a further third responded
that they believe this will happen in 2025 or beyond
- Survey results indicate that "revenge travel" – with the
objective of making up for lost time – is a meaningful phenomenon,
with 68% of travel leaders responding that they are forecasting a
higher spend from consumers on their future travel plans
- Travel leaders report that travelers are considering more
decision factors than ever before committing to a trip
- 82% of airlines executives surveyed responded that they expect
the combination of business and leisure to be even more prominent
post-recovery
- More than half of agencies surveyed responded that they are
spending more time now looking into new tools, services and
technologies; this is a particular area of focus in APAC, for 71%
of responding agencies
- 92% of travel agencies surveyed indicated that they want the
support of travel technology partners to create a more seamless
experience in terms of shopping, booking and fulfilment, while 89%
responded that they want useful tools to personalize travel
- 96% of airlines surveyed responded that they expect enhanced
possibilities to offer growth opportunities and improved customer
service and satisfaction scores
"One thing that struck us as we were carrying out the research
was the unprecedented pace of change in the past few months," said
Darren Rickey, Senior Vice
President, Airline Global Sales and Accounts, Sabre. "This of
course presents an enormous opportunity, but it also puts strains
on travel businesses who must adapt their plans, processes and
operations to address these potential changes."
Key trends identified by surveyed agencies in the new
Sabre-Dr.Fried research include the importance of organized and
connected trips to cut through travel complexities for customers;
the ongoing prominence of domestic and regional travel and the
challenges (and opportunities) for business travel recovery.
Meanwhile, for airlines participating in the survey, major
trends identified include increasing consumer bookings protection;
the growth of "bleisure" as a catalyst for potential corporate
travel recovery and offering more sustainable flight options to
meet customer demands. Mirroring agency responses, the survey
indicates that airlines are also focused on increasing domestic and
regional routes as well as how new product formats such as
organized and connected trips can help optimize recovery
opportunities while creating increasingly personalized experiences
for travelers.
"Our latest Sabre research has highlighted a degree of optimism
across the travel ecosystem," added Andy Finkelstein, Senior Vice President, Global
Agency Sales and Corporate Solutions, Sabre. "However, it
also suggested that not all travel leaders may be ready for these
potential changes if they happen quickly. The survey
indicates that there is a clear need for agility, transformation
and collaboration so that travel agencies, airlines and other
industry players can ensure they are in a position to identify
these changes, strategize for future growth opportunities and
improve the experience for the traveler."
About Sabre Corporation
Sabre Corporation is a leading software and technology
company that powers the global travel industry, serving a wide
range of travel companies including airlines,
hoteliers, travel agencies and other suppliers. The company
provides retailing, distribution and fulfilment
solutions that help its customers operate more efficiently,
drive revenue and offer personalized traveler experiences. Through
its leading travel marketplace, Sabre connects travel suppliers
with buyers from around the globe. Sabre's technology platform
manages more than $260B worth of
global travel spend annually. Headquartered in Southlake, Texas, USA, Sabre serves customers in more
than 160 countries around the world. For more information
visit www.sabre.com.
Media Contact:
Kristin Hays
Kristin.hays@sabre.com
Heidi Castle
heidi.castle@sabre.com
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SOURCE Sabre Corporation