Shurooqs WTM 2022 showcase turns the spotlight on their vision for shaping a sustainable future of travel and leisure

Since the companies vary so much, it’s hard to nail down a single key metric to watch. For example, some travel companies are asset-heavy transportation businesses; others are essentially tech companies. Spending fell by 76% in 2020 and only recovered 4% in 2021, according to the World Tourism Organization.

• At JTB Business Travel, we help companies save on overall travel spend while assisting Travelers through every step in their journeys.
• We combine two decades of travel & leisure heritage with deep rooted digital marketing know how.
• Region wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
• The past two years have wreaked havoc and brought widespread disruption to the hospitality industry.
• With all this being said, we expect that the Blurred Travel trend will result in many more travel providers diversifying their products and services in the near future.

Ensuring that Travel & Tourism has a positive impact on the natural environment is a complex and growing priority in the industry. Amid developing regulatory requirements and an increasing focus on sustainability by consumers, setting ESG targets and building the capabilities to track and report performance are important—and often overlooked—value levers. As travel markets adapt to a ‘new normal,’ a robust portfolio review is necessary in order to optimise operations, sharpen focus on core activities, and consider divestment or retrenchment in others. For those companies with funding, it may be the right time to pick up distressed assets. Self-catering and small format accommodations that allow travelers to socially distance are beginning to recover. Recovery will happen for hotels and large format accommodations, but will take more time.

Given that travel and tourism likely won’t return to pre-pandemic levels until 2023 at the earliest, it is important for carriers and operators to understand the staggered nature of the recovery and adapt to it. Matching supply and demand is a balancing act, which must be underpinned by smart analytics to manage cash flow and scale workforce and service capacity. The Group has signed a shareholder agreement with the Barceló Hotel Group to develop three hotel complexes in North Male’ Atoll, Maldives, which consists of 470 keys. The total value of the development is estimated at USD 150 Mn, with Barceló investing USD 30 Mn for a stake of 33.33% shares of Bodufaru Beach Resorts Ltd. Apart from the shareholder agreement, Barceló Hotel Group entered into a management agreement to manage 5 leisure properties in Sri Lanka and Maldives.

Recently Viewed Tickers

The term bleisure was first coined in 2009 by the Future Laboratory, a business consulting group. Parts of bleisure travel packages come out of the employee’s pocket, but employers with bleisure policies can strike deals with hotels and tour operators for discounted rates and other amenities. Vice President Barou said the two sides will make an innovative future for the tourism and leisure industry based on their data and networks. Through their agreement, Yanolja Cloud and Amadeus will jointly work toward digitalization of the global leisure industry and form a cooperative system to revive the sluggish tourism market. Their initial approach is to use solution technology and know-how and continuous personnel exchange to promote a digital environment for the sector. According to the World Travel and Tourism Council, the largest industry in the world is tourism & leisure, which accounts for almost 11% of world GDP.

Harvest Travel & Leisure ETF Cl A (TRVL.TO)

Not only does Travel and Leisure Magazine pay up to $1 a word, 95% of their writing is completed by freelance writers. Corporates can take advantage of the flexibility and innovative essence of startups to drive the development of new Travel & Leasuire products that are more personalised, eco-friendlier, and more attuned to local culture. While the industry is in the midst of a deep metamorphosis, most of the current players still maintain a conventional and standardised offer.