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By Author
Published on December 31, 2023
In a data-driven overview, the travel and tourism industry is poised for a robust return to pre-COVID-19 levels, marking a remarkable comeback despite persistent challenges in staffing, cybersecurity concerns, and the integration of artificial intelligence (AI).
International tourism, a significant indicator of recovery, is expected to reach 90% of pre-pandemic levels by the end of 2023, according to data from the United Nations World Tourism Organization (UNWTO). The period between January and September witnessed a 38% increase in international tourist arrivals, totaling an estimated 975 million.
UNWTO Secretary-General Zurab Pololikashvili commented, "International tourism has almost completely recovered from the unprecedented crisis of Covid-19, with many destinations reaching or even exceeding pre-pandemic arrivals and receipts. This is critical for destinations, businesses, and communities where the sector is a major lifeline."
The global market share of the travel and tourism industry has bounced back impressively, accounting for 7.6% of global GDP in 2022, with projections indicating a rise to 9.2% by the end of 2023. In 2019, this figure stood at 10.4% of global GDP.
As the industry experiences this resurgence, three main challenges have emerged in 2023 and are expected to persist into 2024, as highlighted by analysts from GlobalData.
1. AI Takes Center Stage
Artificial intelligence (AI) has become a transformative force across industries, and the travel sector is no exception. AI applications in tourism include monitoring hotel room maintenance, optimizing energy usage, demand forecasting, and adjusting room availability accordingly.
Nicholas Wyatt, Head of Analysis at GlobalData Travel and Tourism, notes, "Hotel operators are still trying to get to grips with this emerging yet possibly transformative technology, but many within the industry see great potential in it." Generative AI, particularly for labor-intensive and repetitive tasks, is gaining traction, allowing staff to focus on enhancing guest experiences.
AI chatbots, capable of making recommendations and addressing FAQs effectively, are becoming commonplace, inspired by successful models like Expedia's generative AI chatbot.
2. Chronic Staff Shortages
The travel industry grapples with a persistent issue of staff shortages, further exacerbated by the challenges of luring back workers who left during the pandemic. AI is positioned as a potential solution by freeing up staff time, allowing personnel to focus on customer service.
From 2022 to 2032, the travel and tourism sector is projected to add 126 million new jobs, according to the World Travel and Tourism’s Staff Shortages report. However, the industry faces obstacles, including political decisions affecting immigration policies, potentially shrinking the talent pool.
3. Cybersecurity Concerns
In 2023, cybersecurity breaches have become a growing concern for the travel and tourism sector. High-profile incidents, such as the cyberattack on MGM Resorts in September, and the data breach at Hilton in January, highlight the vulnerability of the industry.
Megan Cross, Associate Analyst at GlobalData Travel and Tourism, emphasizes the need for robust cybersecurity measures, especially given the industry's possession of highly valuable and sensitive guest data. The rise of digital platforms necessitates advanced cybersecurity practices to maintain customer trust in 2024.
Despite these challenges, the average stock prices of leading travel and tourism companies have remained steady throughout 2023, signaling resilience in the face of adversity. As the industry continues to recover, staying ahead in cybersecurity practices and embracing AI will be pivotal for sustained growth and customer trust.
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By Nithyakala Neelakandan
Published on September 2, 2024
On2Cook, the world's fastest cooking device, has made a significant impact in the B2B cooking sector in India. Launched just a few months ago, the innovative AI-driven cooking appliance has already been deployed in over 500 units across more than 35 F&B brands, including cloud kitchens, cafeterias, restaurants, and hospitality chains. The device, created by inventor Sanandan Sudhir, has quickly gained traction for its ability to transform traditional cooking methods.
Sudhir announced that the company has also received Letters of Intent for an additional 4,000 units, set to be installed in commercial kitchens worldwide. Among the early adopters of On2Cook are brands like Grabs Kitchen, Carasid Café Goa, Hocco Eatery, Venky Residency, and Salad Time.
"On2Cook is the future of cooking, and we are thrilled by its widespread acceptance in the B2B F&B space. Our patented technology offers numerous benefits for commercial kitchens, such as eliminating the need for gas-based cooking, reducing oil usage, and replacing pre-cooked meals with freshly prepared dishes. For instance, a mid-sized kitchen serving about 100 plates daily can save over Rs 16,000 monthly just on oil consumption. The device's advantages are evident across all cooking segments, including restaurants, cloud kitchens, bakeries, casual dining, and Quick Service Restaurant (QSR) chains," said Sanandan Sudhir.
Sunil Shrivastav, owner of Carasid Café Goa, shared his positive experience with On2Cook, stating, "We’ve been using On2Cook for a few months, and it’s not just fast and efficient, but also incredibly consistent, especially for our fillings made in large batches. Consistency in color, quality, and texture is crucial in our business, and On2Cook delivers on all fronts without the need for monitoring. I’m so satisfied with its performance that I plan to add up to 100 units across our café chain."
On2Cook, patented in India, the US, the UK, and Russia, significantly reduces cooking time to one-third of traditional methods, cuts power bills by up to 40%, and lowers oil consumption by around 50%, all while delivering healthier and more nutritious meals. The device also minimizes the number of cooks needed in a commercial kitchen, improving the consistency and quality of food. With an integrated app and IoT capabilities, On2Cook automates order processing and cooking, featuring over 300 predefined recipes.
First showcased during the Grand Finale of Shark Tank India Season 1, On2Cook has captured the attention of industry leaders, including Anand Mahindra, even before its official launch. The device ensures that vegetables and meats cooked retain water-soluble nutrients, minerals, structure, texture, and color, preserving elements that are often lost in traditional cooking methods.
By Nishang Narayan
Published on September 1, 2024
Zaplox, a leading provider of digital guest solutions for the hospitality industry, has been selected to provide mobile key services for a proof of concept (PoC) with a prominent hotel group, whose name has not been disclosed. This collaboration marks a significant step in integrating Zaplox’s advanced mobile key technology with the hotel group’s own app.
This PoC is designed to validate Zaplox’s mobile key solutions, ensuring they meet the technical and guest satisfaction standards required by the hotel group. It also highlights the growing trend of digital self-service options in the hospitality sector, positioning Zaplox as a key player in this evolving space.
Tess Mattisson, President and CEO of Zaplox, commented, “Following the successful launch of mobile keys in Apple Wallet and Google Wallet, we are seeing increased interest in our solutions. This PoC reflects the market's demand and the maturity of the industry, showcasing our role as a trusted provider of digital solutions.”
The PoC serves as a critical evaluation phase, allowing the hotel group to experience the benefits of Zaplox’s technology firsthand. This approach has previously proven successful, such as with PENN Entertainment, where a PoC led to a full contract and the implementation of mobile keys.
Mattisson added, “While demonstrating middleware services can be challenging, this PoC allows us to showcase our technology and expertise, laying the groundwork for a potential broader rollout. We are excited to support this hotel group in their digital transformation journey.”
Founded in 2010 and headquartered in Lund, Sweden, Zaplox offers a software-as-a-service (SaaS) platform designed to enhance the guest experience through self-service check-in and mobile key solutions. The company’s platform has become integral to the hospitality industry, assisting hotels, resorts, and casinos worldwide in providing a seamless digital experience for their guests.
Published on August 29, 2024
Odyssey Tours and Travels, a pioneer in luxury travel, has launched LuxuryTrains.in, India’s first comprehensive platform dedicated to luxury train experiences worldwide. This innovative website offers discerning travelers access to over 40 iconic luxury trains, covering more than 200 exceptional journeys across six continents, making it the ultimate gateway to immersive and opulent travel adventures.
A New Era in Luxury Travel:
With LuxuryTrains.in, Odyssey Tours and Travels has once again set a new standard in the luxury travel industry. Following the success of their cruise marketplace, CruiseBay, launched in 2008, LuxuryTrains.in represents a significant leap forward in catering to the needs of luxury travelers. The platform is a treasure trove of meticulously curated train journeys, featuring legendary trains like the Venice Simplon-Orient-Express, known for its elegant glide through Europe’s picturesque landscapes, and India’s own Palace on Wheels, offering a royal journey through the country’s cultural gems.
Travel enthusiasts can also embark on the luxurious Hiram Bingham to explore the sacred Inca ruins or join Rovos Rail's expeditions through Africa’s breathtaking vistas. Each journey listed on the platform comes with detailed itineraries, highlights, and comprehensive information about the accommodation and dining options available onboard.
Comprehensive Travel Planning:
LuxuryTrains.in goes beyond just booking a journey. The platform offers travelers an in-depth understanding of each luxury train, including its history, route, onboard amenities, and the schedules for the next two years. Additionally, Odyssey’s team of luxury travel consultants is available to handle every aspect of the traveler’s journey, from pre-travel arrangements to post-journey experiences, ensuring a seamless and memorable travel adventure.
Expertise in Tailored Luxury Holidays:
Nikhil Thakurdas, CEO of Odyssey Tours and Travels, highlighted the company's commitment to redefining luxury travel: "With the launch of LuxuryTrains by Odyssey, we aim to introduce luxury train travel as a unique and differentiated holiday experience. Our platform opens a whole new dimension of luxury travel where the journey is as exciting as the destinations. With details and offers on the world’s most iconic trains, luxury travelers are spoiled for choice to experience a new way to travel."
About Odyssey Tours and Travels:
Founded in 1992, Odyssey Tours and Travels is a leading IATA-accredited travel company and a member of Uniglobe, the world’s largest travel franchise network. Known for planning customized holidays in India and abroad, Odyssey offers a wide range of services, including air ticketing, worldwide hotel reservations, inclusive tours, sightseeing activities, visa assistance, and travel insurance. With the launch of CruiseBay in 2008, Odyssey solidified its reputation as a pioneer in the luxury travel market, and with LuxuryTrains.in, it continues to lead the way in offering unique and immersive travel experiences.
Whether you’re drawn to the elegance of European luxury trains, the heritage charm of India’s royal railways, or the adventurous allure of South American expeditions, LuxuryTrains by Odyssey promises unparalleled journeys that blend luxury with immersive cultural experiences. Visit LuxuryTrains.in today to explore the world’s most exquisite train journeys and begin planning your next unforgettable adventure.
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