During ITM’s annual conference at the Hilton Metropole Birmingham; Traveller Security, Cost Reduction and Budget Control were listed by ITM Buyer Members as their top priorities this year. It is evident to say that we are living in an age of disruption – the triggering of Article 50 post-Brexit, Donald Trump’s first 100-days in office, global economic uncertainty and the rapid evolution of digital technologies.
Findings from the ITM annual conference show that the majority of buyer members expect an increase in travel in 2017. When it comes to business confidence, the majority of travel managers are cautiously expecting growth within their organisations this year. The first outlook report for 2017 published by ITM focuses on business sentiment, and includes global activity and megatrend insights for the year ahead for planning purposes. The survey highlighted the fact that travel managers will be challenged to manage cost increases from suppliers, whilst at the same time being expected to rein in travel spend in 2017.
• Travel managers place traveller security as the number one priority for their organisation (ahead of cost reduction and budget control)
• Travel managers surveyed expect the cost of hotel nights and air tickets to increase as a result of the EU referendum result going forwards
• 89% of respondents believe negotiated fares and room rates will take a precedence in their hotel and airline contracts for 2017 rather than spot buying.
• 80% of travel managers plan to conduct targeted renegotiations for their airline programme instead of conducting a full airline RFP
• 64% of respondents plan to conduct a full Hotel RFP
• For Travel Management Companies, it will be a busy year as 47% of respondents confirmed their TMC contracts are due for renewal in 2017.