Travel Management

Continued Innovation in Business Travel Expense Management

Managing business travel expenses is a hot topic in the industry, especially as travel continues its strong recovery from the pandemic. According to the latest GBTA Business Travel Outlook55% of travel buyers and procurement professionals reported they will take more business trips in 2023 than 2022 and 42% are expecting budgets for travel program operations to be higher.

Recently, American Express announced the development of a set of expense management solutions aimed at improving the expense management process for business travel. Microsoft will be running a pilot program with its own internal systems this year and the product is planned to roll out over time to American Express Corporate clients. in the press releasesGunther Bright, Executive Vice President, Global Commercial Services at American Express, gives an apt description for the expense reporting process, “Expense reports are a necessity, but we all hate doing them.”

Major providers are trying to enhance their offerings to make travel spend management easier. According to a new American Express Expense Management Trendex survey conducted between Dec. 16 and Dec. 20, 2022—among 1,000 business travelers and 300 business travel expense processors—nearly 94% of travel expense processors and 76% of business travelers report there needs to be more innovation around the expense report management processes. When describing their employer’s current expense management process, 52% of business travelers reported a negative reaction.

Business travelers and expense management professionals are used to using travel B2C technologies that are convenient and seamless. For example, it only takes a

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How the travel industry explains the weird 2023 post-covid economy

The economy may be uncertain, but that hasn’t stopped Americans from traveling.

Across the industry — from airlines to hotels to home sharing to online travel businesses — corporate executives seem optimistic. In calls with analysts to discuss their quarterly earnings, companies are seeing their businesses returning to pre-covid levels.

The travel industry can provide something of a microcosm of some of the most dynamic and uncertain parts of the economy: consumer demand for things beyond the bare essentials, labor supply for highly-paid professionals like pilots, labor supply for lower-income earners like hotels clerks and maids and how much covid-19 has — or hasn’t — changed the economy

“I’ve never seen a more constructive backdrop for the industry,” Ed Bastian, the chief executive of Delta Air Lines, told analysts on the company’s earnings call last month. “Demand remains strong as passengers return to the skies,” Bastian said, projecting that the airline industry’s portion of economic output was returning to normal even though there were still constraints on its business, namely hiring and training workers.

“I believe our industry will see tens of billions of dollars of incremental demand in the next few years coming out of the pandemic,” Bastian continued.

Airbnb reported better-than-expected earnings and posted its first-ever annual profit since forming in 2008. “Guest demand remained strong throughout 2022. All regions saw significant growth in 2022 as guests increasingly crossed borders and returned to cities on Airbnb,” the company said in a letter to shareholders.

TripAdvisor, the online

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Corporate Travel

Hotels Envision Group Bookings Will Make Up for Lost Business Trips

Skift Take

Most of the major hotel chains have now reported their fourth-quarter results. Tourists are back in full force, traditional business travelers are less so. But fortunately for them all those conferences and big events are keeping their properties filled.

Matthew Parsons

“An Outstanding year,” “thrilled to report,” “record-breaking…” every US hotel group CEO has been jubilant in their earnings calls these past days.

Hilton’s Chris Nasetta possibly the most: “We’re at a pivotal moment with great opportunities ahead in a new golden age of travel.”

The execs say they’re finally benefiting from all of that pent-up demand. Across the board with their reporting results, it’s clear that leisure travelers are mostly driving that recovery, with elements of blended travel mixed in.

They’re also optimistic on corporate travel. It seems the group business is set to be the star in 2023, on top of extra business from workers hitting the road as the US begins its infrastructure projects.

Truly Transformative Year

Hyatt CEO Mark Hoplamazian described 2022 as a “truly transformative year” during an earnings call on Feb. 16.

Group booking revenue hit a milestone in the company’s recovery, as it made it back to 2019 levels in its fourth quarter — “a testament to our association and corporate customers prioritizing in-person interaction and connection,” he said.

His comments echo a report from Deloitte that also found inadequate video conferencing software was driving the recovery.

Revenue from business transients — for example, individual business travelers checking in for a

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