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Travel technology (also called tourism technology, and hospitality automation) is the application of Information Technology (IT) or Information and Communications Technology (ICT) in the travel, tourism and hospitality industry that includes On-prem as well as SaaS solutions. Some forms of travel technology are flight tracking, central reservations systems, property management systems, channel managers, price intelligence systems, pre-travel planning through online travel agencies, and systems that allow tourists to review their experiences.
Travel technology was originally associated with the computer reservations system (CRS) of the airlines industry, but is now used more inclusively, incorporating the broader tourism sector as well as its subset the hospitality industry.
Revenue Management Systems
a Revenue Management System, or short RMS, is a software solution, which allows you to carry out important revenue management tasks more efficiently and effectively. It will make use of data from your own hotel, and from the market at large, in order to help you to make more informed decisions.
Typically, a good Revenue Management System will use the data and its own algorithms to carry out a real-time analysis of the state of the market, and of demand, in order to calculate ideal room rates. As a result, most of the important hotel revenue management decisions can be carried out from a single, centralised dashboard. The same concept of Revenue management system can also be applied to other industries such as airlines, car rentals, ferries. Some key players in the industry are Atomize, IDeaS, Duetto
A channel manager enables the process of managing online travel agents (OTA's) and other online distribution channels through which rooms are sold online. A channel manager is a piece of software that connects your property to OTAs and synchronises availabilities and details across all platforms. Today there are multiple players in the industry such as Siteminder, RateGain, Cloudbeds, STAAH and Axis Rooms.
Rate shopping software is a tool that allows businesses to compare prices for products or services from multiple vendors in order to find the best deal. This type of software is used across different industry segments in the travel and hospitality industry including airlines, hotels, car rentals, cruises and ferries, package providers. It typically includes features such as price comparison, supplier management, and analytics to help businesses make informed purchasing decisions. Some examples of rate shopping software include OTAinsight, Travelclick,RateGain.
Online travel agencies
Booking engines allow easy access for consumers and travel professionals; the systems enable individuals to make reservations and compare prices. Online travel agencies such as expedia.com, are a large contribution to how the travel and tourism industries have changed due to technology. These online agencies help users plan and book trips and provide comparisons of hotels, flights, vacation packages, prices and more, all in one place. The change from of-person to online travel agencies gives the customer more power in planning their trip.
The increase in review websites has also had a huge impact on the tourism industry. Sites such as tripadvisor.com let users read, post, and interact with reviews of travel experiences and attractions others have had. eWOM, meaning electronic word of mouth, has become a big influence in consumer’s attitudes and actions, resulting in different choices of products and planning aspects.
Social media and mobile technologies
The introduction of smartphones and mobile applications has also had a big effect on the tourism industry. Social media posts allow users to gather general information, free of marketing bias. GPS and social media apps allow users to tag and share their locations. People no longer need to print out directions and can use map apps to help them get around. Social media users can search for locations on social media platforms and gain more knowledge of the locations without using a review site.
Applications such as Uber and Lyft have also made travelling easier. Users no longer have to plan ahead for transportation to and from an airport or a different destination. Ubers and Lyfts may also be used in place of a rental car.
Today the tour guide can be a GPS tour guide, and the guidebook could be an audioguide and trips could be planned completely online. The continuing evolution of information technology and the widespread public use of the Internet has created a number of conditions that have been both beneficial and detrimental to the modern travel agency. The internet is reshaping many business aspects. As a result, the travel and tourism industries will have to continue to adapt to new technologies in the future.
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