Deloitte travel and hospitality report forecasts growth
A new report issued by Deloitte, called Travel, Hospitality and Leisure (THL) Outlook, says that travel companies have reason to be optimistic about growth in 2013 as the power of technology continues to change the consumer experience. But there are plenty of difficulties still facing individual companies operating in the travel sector.
“Even with the current climate of economic uncertainty, the THL sector may have reason to be optimistic,” said Adam Weissenberg, vice chairman of Deloitte’s travel, hospitality and leisure sector. “However, there are a number of issues THL companies should take into consideration in 2013, including increased competition in the evolving marketplace, the pressing need for brand differentiation and the use of technology to improve customer service and operations.”
A number of key issues will affect the sector in 2013, including intense competition (made even more intense by how quickly new players can enter the marketplace); differentiation (declining revenues are likely whether the economic upturn is strong, incurring expenses to differentiate offerings, or weak, inducing pricing pressures); and growth in emerging markets (where many THL companies are now focusing in order to expand customer reach).
[pictured: Philippines; courtesy PATA]