portunities
whether they operate with a traditional distribution model or an online/digital model (or both). Careful planning will be the order of the day, with the potential to add cost to the sector’s already too high overheads. The rise of the connected consumer
and the increasing use of and engagement with digital technology is proving as disruptive in the travel sector as in other areas of the consumer market. The challenge for businesses is not just the magnitude of change but the rate of change, which continues to accelerate.
Digital transformation As the travel landscape evolves and the better players begin to harness the power of digital, the traditional customer journey is being changed for ever. We are seeing the continued growth of ticketless travel and expect 2015 to be a big year for mobile payments. During 2014 we have seen a number
of travel businesses experiment with the use of wearable technology such as smart glasses and smart wristbands and we would expect this to continue as the initial results have been extremely positive. Finally, if we look to the levels of
mergers and acquisitions activity within the sector, we see the trends are on the whole positive, particularly in the luxury sector. However, investor confidence is fragile. With the threat of rising interest rates, a weakening European economy and a number of emerging geopolitical and health-related risks continuing to develop, the travel sector remains suitable only for the bravehearted investor.
Graham Pickett lead partner, travel, hospitality and leisure, Deloitte
Travel Weekly Insight Annual Report 2014 | 5 The Deloitte view... is provided by
Graham Pickett lead partner, travel hospitality & leisure
gcpickett@deloitte.co.uk
Alistair Pritchard lead partner, travel
ajpritchard@deloitte.co.uk
Nigel Bland partner, travel, hospitality & leisure
nbland@deloitte.co.uk
Charles Morelli lead director, aviation
cmorelli@deloitte.co.uk
Robin Rossmann director, travel, hospitality & leisure
robrossmann@deloitte.co.uk
Mike Manby
director, audit advisory analytics
mmanby@deloitte.co.uk
Dan Dunleavy
director, customer analytics, Deloitte Digital
ddunleavy@deloitte.co.uk
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