Five steps ¶towards ¶AI Maturity in travel & hospitality
The travel and hospitality industry is using data and AI to maximize value from micro-moments and respond to real-time trends. Accenture's research found that AI-influenced revenue for travel companies more than doubled between 2018 and 2021 and is projected to triple by 2024. However, only 13% of travel companies surveyed by Accenture were considered AI "achievers" who are significantly ahead of the rest in using AI to reinvent core parts of...
From capturing changing demand to pinpointing customer needs to managing revenue, today’s travel and hospitality industry is all about maximizing the value of micro-moments and responding to trends in real-time.
It’s why capitalizing on data for improved decision-making has become a critical capability in the industry. It also explains the recent growth in the use of artificial intelligence among travel and hospitality companies.
The Hotel Yearbook 2023 - Annual Edition
As we have embarked on 2023, it is evident that the hotel industry has made a robust recovery from the
pandemic.
Occupancy and pricing have returned to their pre-pandemic levels. However, the future of our
industry is contingent
on how nimble the hospitality sector can be in adapting to ongoing innovation, changing market
conditions, evolving
consumer preferences, new staffing challenges, and sustainability realities. These uncertainties are
the new normal
in an unpredictable world.