Corporate travel showing signs of recovery
Corporate travel is showing green shots of recovery, according to Madhavan Menon, Managing Director, Thomas Cook (India) Group.
Menon was the first speaker in Sabre’s new virtual insights series.
Speaking as part of the Sabre Ascent series, Mr Menon said that for March 2022, Thomas Cook (India) is seeing a domestic corporate travel recovery to around 70% of pre-pandemic levels.
International corporate travel is starting to follow the same trajectory, he says.
This mirrors latest figures released by Sabre in its US Securities and Exchange Commission filing which provided figures for the period of March 1 to 28.
The Sabre filing said: “While domestic and leisure bookings have continued to lead the recovery, international and corporate bookings have improved at an accelerating rate since January 2022.”
“We expect the March 2022 recovery versus the same period for both international and corporate bookings to be at their highest levels since the pandemic started.”
During the first ever Sabre Ascent session, Menon also told Jaya Kumar K, Vice President and Managing Director, Sabre Bengaluru GCC that he expects technology to play a ‘far greater role’ in corporate travel.
Business travellers expect increased, targeted information to help them navigate travel in a Covid-19 world as well as a much more personalized approach, he said.
The webinar also addressed the challenges and opportunities brough about by the pandemic as well as the evolution of domestic tourism, and new trends in personalisation.
Menon said: “What was initially seen as a challenge actually turned out to be an opportunity. I don’t think any of us had faced a challenge of this kind, but there was a realization you’re not alone and everybody is facing the same problem.”
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