rategain travel technology

Travel Technology: Solutions for Sustainable Business Growth

One of the oldest industries in the world is travelling the world. The history of hospitality extends back thousands of years, from the caves in France through Roman spas for leisure and relaxation to the first hotels servicing businessmen travelling in quest of trade.

Long before the term “entrepreneur” was even coined, travel technology has historically been a catalyst for entrepreneurship. Travel has become a vital component of contemporary life and a symbol of expansion and prosperity thanks to modern “entrepreneurs” who have elevated hospitality to new heights.

Social media sparked a shift in consumer behaviour and ushered in a new era of travel for millennials. Travel management software is increasingly a budgeted expense for millennials, whether it be for business or leisure.

travel technology

As budget-conscious tourists search for the best rates, incentives and benefits are greatly desired. To connect people with similar interests together and give them rewarding experiences, all interest-based activities established businesses.

Bigger, better, more. Growth at all costs

Growth led to challenges both environmental and societal. Governments and non-profit groups began bringing up the expense of travel and its effects on the environment. We saw the rise of the conscious traveller, uncomfortably aware of the environmental toll of an industry built on moving people from place to place at a maddening pace.

Sustainability has become a common topic of discussion in the travel technology industry. Sustainability 1.0, which focused on the environmental impact of travel management software, encouraged brands to develop products that would help repair the harm that tourism was doing to the ecosystem and local communities.

Why Sustainability 2.0 will work

It’s callous to ignore the impact of travel management software on our environment and not engage in the conversations around, greenhouses gases, preservation of local culture and conservation of natural resources. 

The core concept of Sustainability 1.0 was for travel technology and travellers to behave responsibly but that flew in the face of profit. Sustainability 1.0 focused on:

  • Reduction of greenhouse gases. A focus on improving fuel economy and lowering overall emissions to slow global warming
  • The maintenance of regional culture is a commitment to minimising the negative effects of excessive tourism and the eradication of local culture.
  • Preservation of the environment is a concentration on controlling how resources are grown and preserved globally.

The majority of businesses concentrated on the “green” element to appeal to consumers. They highlighted efforts made to reduce, preserve and conserve, however, this came at a cost, influencing margins and in the end shareholder wealth, which required companies to actively invest. 

However, it is insufficient to bring the globe up to the necessary level of environmental consciousness. We need to comprehend how environmental and economic sustainability are intertwined if we are to maintain genuine change on a global scale.

Enter Sustainability, or Sustainability 2.0

The basic tenet is that all boats rise with the tide. In Sustainability 2.0, we drive growth for businesses that create jobs and promote travel technology, in a healthy environment that ensures the longevity of populations and preserves our planet so the thirst for exploration continues.

A new Lens for Buying Tech – Viable. Nimble. Scalable

What does Sustainability 2.0 mean for people who purchase travel technology, then? It is to consider technological partners who have distinct values and consistency in sustaining operations even in a crisis.

As a result, while the majority of tech buyers focus on the ROI they receive and procurement teams work to develop reductions, considering financial discipline should rank right up there with technical specifications as a crucial factor. Those who are resilient and here to stay might be distinguished by their “fiscal DNA.”

Strong top-line growth and funding may garner media attention, but these factors do not offer the depth and security necessary to maintain operations during a crisis.

Even though these are excellent initial measures, today it is not sufficient to place separate trash cans or advise hotel guests to reuse their towels to qualify as eco-friendly. Airlines, hotels, tour operators, and other travel-related enterprises must create a thoughtful strategy for addressing global issues and put into place practical procedures and technologies. So, if you are looking for the right travel technology company for your hotel then connect with RateGain and move toward a greener world.