To say that the travel and hospitality industry has been challenged by the global COVID-19 pandemic epitomizes understatement. Cataclysmic is more like it. The ripple effect has been more a tsunami. One of Reltio’s Core Values is that we view customers as people, not companies. Restaurants, hotels and lodging, and transportation services collectively employ an estimated 18M people in the US alone, according to combined statistics from Statista and the Bureau of Labor Statistics.
Reltio is proud to serve the Travel & Hospitality (T&H) sector. The world’s largest hotel operator and the most pervasive sandwich franchiser on the planet use the cloud-native Reltio Connected Data Platform for master data management to better run their enterprises and serve constituents.
Last Friday’s Weekly Analysis from the U.S. Travel Association reports staggering losses. The industry group calculated that the COVID-19 pandemic has resulted in $491 billion in cumulative losses for the U.S. travel economy since March. But they also see a way forward.
While a business case might be made by some to focus on markets less detrimentally affected by the economic disruption of COVID, that is not our modus operandi. Reltio’s T&H customers need our support now; perhaps more than ever. My paternal grandfather, Albert Wingrove (aka Pop-Pop), a Scottish immigrant, taught me many life-long lessons. Chief among them was “don’t be a fair-weather friend.” Reltio also lives by that dictum.
“While the latest travel data reflects the dire situation that we face, it is very useful when speaking with Congress, the administration and government leaders about the urgent need to provide relief to our industry now,” the U.S. Travel Association Weekly Analysis states. “We also know that real-time insights are critical to detecting shifts in traveler behavior and sentiment so that you can plan appropriately for the future.”
Real-time insights are what Reltio is about. Insights are derived from data. With Reltio, T&H companies immediately get accurate and consistent data which supports better experiences to customers at points of engagement. Reltio Connected Enterprise 360 and Reltio Connected Customer 360 enable our customers to understand consumer behavior and respond in ways that benefit the business and the customer. Innovation demonstrated by T&H companies is impressive and heartening. Hotelier, Marriott International, introduced day passes, a la WeWork, to monetize otherwise empty rooms and give those working from home a safe change of scenery. Marriott also relaxed its cancellation policy, helping to reduce a major drag on demand.
Quick Service Restaurants (QSR) such as Chick-fil-A, Chipotle and Subway accelerated digital transformation: partnering with delivery service companies; providing contactless transactions, and; dedicating parking spaces for curbside pick-up.
These are examples of data-driven responsiveness. The cloud-native, big data architecture and API-first approach of the Reltio Connected Data Platform delivers this agility more quickly and simply than legacy on-premises solutions.
Partnering for the Future of Travel & Hospitality: Reltio and AWS
Reltio isn’t alone in our passion to assist the T&H sector. Earlier this month Reltio earned the Amazon Web Services (AWS) Travel & Hospitality Competency. This new “competency” recognizes that Reltio has demonstrated AWS technical expertise and proven industry-specific customer success. Like Reltio, AWS wants to help T&H customers navigate the present while preparing for the recovery by connecting them to AWS Partners with deep AWS experience and a proven track record for helping travel and hospitality companies.
As my colleague, Vlad Melnik, Vice President of Global Alliances at Reltio said: “We are proud to achieve the AWS Travel and Hospitality Competency so quickly after announcing the availability of Reltio Connected Data Platform in AWS Marketplace earlier this year. The industry has faced unprecedented challenges this year, but innovative enterprises realize that having the right data helps create new revenue streams to meet changing customer behaviors, needs, and preferences.”
The pandemic has accelerated digital transformation by a decade, requiring adjusted business models able to support contactless customer experiences, and fueling the need for Reltio Connected Data Platform. The key for travel and hospitality companies to adapt and succeed in a post-COVID-19 world is to have a clear vision of how they will serve, retain, and protect their customers. Learn more about how Reltio’s MDM software shapes the future of travel and hospitality here.