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1、1Navigating toward a new normal Navigating toward a new normal The third edition of Deloittes corporate travel study indicates business travel continues to climb in the United States and Europe,but likely faces a limited upside.As trip volume increases,travel managers face high prices,tough supplier
2、 negotiations,and sustainability mandates.Deloitte Consumer Industry CenterThe Deloitte Transportation,Hospitality&Services team helps companies drive growth in the technology-driven,rapidly evolving hospitality and leisure industry.Travel and hospitality industry trends include changing customer ex
3、pectations,technology modernization,risk mitigation,and more.Learn more.Table of contents04.Introduction06.Charting the recovery:Gains continue,but buyers expect limited upside08.Growth drivers:International trips and live events lead the way11.How we work affects how we travel:WFH and video confere
4、ncing are changing travel decisions13.Cost control and contracting:Renegotiating with new needs,expectations15.Higher aspirations:Travels strategic positioning16.Sustainability:Seeking a path to greener travel18.Conclusion19.Endnotes4By many measures,1 leisure travel in the United States and Europe
5、reached preCOVID-19 levels months ago,after following consistent upward trends since the rollout of vaccines in early 2021.Corporate travel,however,has been slower to return.Decisions about these trips face an entirely different calculus,accounting for a host of factors:traveler safety and willingne
6、ss to board a flight,client interest in meeting in person,the value of attending a conference,and whether a virtual conferencing platform can replace the tripjust to name a few.The second half of 2022 was affected by competing forces:On the one hand,the world had spent several months past the peak o
7、f pandemic concern,which helped pave the way for the growth of corporate travel.The United States dropped prearrival testing for most foreign visitors in June,several months after Europe.But as the year wore on,concerning economic signals continued.From a background of concern about looming recessio
8、n,layoffs emerged,affecting the tech sector most acutely.2 In March 2023,financial concerns were compounded by issues in the banking sector,the trajectory of which were uncertain at the time this report was drafted.As professionals have started to put more trips on their itineraries,many are encount
9、ering higher airfares and room rates.These pricing conditions fit awkwardly both with travel buyers seemingly cautious financial approach and with many travel suppliers widely reported staffing challenges and slow infrastructure updates.As Deloitte continues to study the future of corporate travel,w
10、e are watching the following key trends and developments:The reshaping of travel to account for social shifts such as more flexible work,and corporate travelspecific ones such as higher expectations of flexible travel bookings Travels strategic positioning within companies Attitudes toward conferenc
11、ing platforms and other technology as replacements for different travel use cases The state of relations between travel buyers and suppliers,especially pertaining to contract negotiations Which supplier-led sustainability efforts have the most potential to move the needle on bookingsIntroduction5Nav
12、igating toward a new normal Key findings Responses from travel managers indicate that corpo-rate travels rebound is on similar trajectories in the United States and Europe.Spend in the combined markets is projected to surpass half of 2019 levels in the first half of 2023,and two-thirds by the end of
13、 the year.While full recovery to 2019 spend volume appears likely by late 2024 or early 2025,adjusting for lost growth and inflation indicates that in real terms,corporate travel will likely be smaller than it was prior to the pandemic.International trips continue to grow,as challenges decline for v
14、isiting parts of the world.US respon-dents expect internationals share of travel costs to jump from 21%in 2022 to 33%in 2023.European respondents expect 32%of 2023 spend to go to inter-national trips within the continent,and 28%beyond.Live-event attendance appears poised to be a big growth driver,le
15、apfrogging from the fifth biggest trigger for increased spend in 2022 to the top spot in 2023.More than half of travel managers in both the United States and Europe expect industry events to spur travel growth this year.Many supplier contracts were frozen for two years or longer during the COVID-19
16、pandemic and began to be renegotiated in 2022.As buyers return to the nego-tiating table with lower expected trip volume,some report that some suppliers are pushing for higher rates.Hospitality providers are reportedly taking a stronger approach than airlines,and European suppliers are pushing harde
17、r than American ones.Climate concerns will likely put a cap on corporate travel gains for several years to come.Four in 10 European companies and a third of US companies say they need to reduce travel per employee by more than 20%to meet their 2030 sustainability targets.This report draws on a surve
18、y of 334 travel managers,executives with various titles and travel-budget oversight,fielded from February 7 to 23,2023.The survey reached 106 US-based respondents,and 228 European respondents based in the United Kingdom(56),Germany(57),Spain(59),and France(56).Note on business travel spend projectio
19、nsBeginning in 2020,many public companies began sharing various figures related to the strength of corporate travel demand.Deloittes estimates and projections rely on the spend figures shared by respondents to our survey.We would like to note that:1)there is no reporting standard for corporate trave
20、l volume;2)reported metrics are inconsistent across companies and usually represent a portion of corporate versus the whole(i.e.,domestic versus international;passenger revenue versus flown segment,business transient versus group);3)due to a significant share booked outside of corporate booking engi
21、nes,suppliers may lack full visibility into corporate volume;4)developments in travel and work patterns have made accounting for business versus leisure travel more challenging.METHODOLOGY6Charting the recovery:Gains continue,but buyers expect limited upsideCorporate travel made major strides in 202
22、2.After concerning COVID-19 variants and the outbreak of the Russia-Ukraine conflict set the year off to a rough start,business leaders decided the time was right to reconnect.Accordingly,travel grew roughly twofold from the beginning to the end of the year(figure 1).Spend across the United States a
23、nd Europe is expected to shoot to 57%of 2019 levels in the first half of 2023,and surge to nearly three-quarters of the prepandemic mark by the end of the year.Travel spend is expected to surpass half of prepandemic levels by the first half of 2023Figure 1Corporate travel as a percentage of 2019 spe
24、nd,United States and Europe combinedH22020H12021H22021H12022H22022H12023H22023H12024H220243%7%11%27%42%57%71%85%95%Question:When did or do you expect your companys travel spend to reach the following levels of 2019 spend?Note:N=334.Source:2023 Deloitte Corporate Travel Survey.7Navigating toward a ne
25、w normal While full recovery to 2019 levels appears possible by late 2024,accounting for inflation would leave the corporate travel market between 10%and 20%smaller in real terms than it was prior to the pandemic.Growth in 2023and likely 2024will come in an environ-ment of higher airfares and room r
26、ates,meaning that the number of trips will likely still lag further behind.In this third edition of Deloittes survey,travel managers expectations have once again downshifted compared to the prior survey,though less dramatically.Travel managers in the United States and Europe anticipate very similar
27、trajectories from 2022 through 2024.Altogether,about a quarter(24%)of companies expect their travel spend to exceed three-quarters of 2019 levels in the first half of 2023;that figure more than doubles to 53%by the second half of 2023.The share of US companies expecting to reach full recovery grows
28、fourfold from the end of 2023 to the end of 2024.Among European companies,that figure triples(figure 2).Less than 25%25%49%50%74%75%99%100%Question:When did or do you expect your companys quarterly travel spend to reach the following levels of 2019 spend?Note:N(US)=106;N(Europe)=228.Source:2023 Delo
29、itte Corporate Travel Survey.71%of US companies expect a full recovery in travel spend by the end of 2024Figure 2Spend as a percentage of 2019 by quarter,United States versus Europe respondentsUnited StatesEuropeBefore or in 202170%29%76%21%H1 202235%58%26%61%10%H2 202215%45%7%31%7%9%51%29%H1 20239%
30、14%8%11%58%16%9%12%59%H2 20237%38%18%35%27%23%45%H1 202445%37%13%51%38%10%H2 202471%24%68%31%0%20%40%60%80%100%0%20%40%60%80%100%8The biggest drivers of the expected contin-ued increase in travel,according to the survey,are the growth of live events and easing of restrictions.As of early 2023,intern
31、ational borders were finally truly open for the worlds biggest economies,with China being the last to clear the way for inbound and outbound trips.US respondents expect international trips to account for 33%of 2023 spend,up from 21%in Deloittes 2022 survey,and similar to 2019.Long-haul corporate tri
32、ps from Europe are still catching up:Respondents expect 28%of spend to go to trips beyond the continent,down from 34%in 2019(figure 3).Even after restrictions are officially dropped,it can take some time for travel to resume at scale,especially for long-haul trips or destinations requiring visas,whi
33、ch might take longer to attain due to processing bottlenecks.3Growth drivers:International trips and live events lead the wayAbout a third of spend is expected to go to trips beyond United States and EuropeFigure 3International travel as a share of corporate travel spend,United States and Europe,202
34、3International travelInternational travel within the continent33%Top regions beyond North AmericaProjected%of 2023 international spend16%:Europe10%:South America10%:Asia United States28%Top regions beyond EuropeProjected%of 2023 international spend14%:North America13%:Asia6%:South America Europe32%I
35、nternational travel within EuropeQuestions:What is the expected domestic versus international proportion of your companys business travel spend?How does your companys travel spend break out among the following international regions?Note:N(US)=106;N(Europe)=228.Source:2023 Deloitte Corporate Travel S
36、urvey.9Navigating toward a new normal The top reasons for these international trips primarily involve connecting with clients and prospects,but there is some variability across the United States and Europe.For European respondents,client project work is the biggest reason for trips beyond the contin
37、ent,followed by sales meetings.American companies reported that the biggest reason for international travel is to connect with global industry colleagues at conferences and to build client relationships.Live events appear poised to be a major contributor to business travel demand in the coming year.
38、They leapfrogged from American companies fifth biggest reason for international travel in 2022 to their first in 2023(figure 4).This trend extends to domestic trips and to European companies,as anticipated in Deloittes 2023 Travel Industry Outlook.Increased event attendance is the No.1 driver of gro
39、wing spend,cited by more than half of respondents in both Europe and the United States.For American companies,it is also the biggest impetus for international trips.Live events and easing of travel restrictions set to lead corporate travel growth drivers in 2023Figure 4Top five developments triggeri
40、ng business travel returnLow infection ratesReopening of own officesReopening of client officesEasing travel restrictionsIncreased attendance at live eventsEasing travel restrictionsReopening of own officesReopening of client officesLarger travel budgets202342131234554Top five factors slo
41、wing business travel returnTravel restrictionsHigher travel pricesEmployee unwillingnessClient unwillingnessReduced travel budgets20234123412345Higher travel pricesTravel restrictionsClient unwillingnessEmployee unwillingnessQuestions:What are the developments most likely to increase your
42、 companys travel volume in 2023?What are the factors most likely to restrict the growth of your companys travel volume in 2023?Note:N=334.Source:2023 Deloitte Corporate Travel Survey.10Pent-up demand likely plays a role,as many indus-try conferences were canceled or held online for two years or more
43、.But this strong interest also could signal events growing importance as remote and hybrid work remain fixtures of the corporate world.When it is harder to call on prospects and clients in their offices,conferences can offer appealing opportunities to connect.As attendees return to industry events,m
44、any compa-nies also are adjusting their internal events.Half report that they have split their larger gatherings into smaller,regional,virtually connected ones.Nearly as many(44%)say they have adopted a hybrid approach.Companies also are increasingly looking to use their own gatherings to foster ext
45、ernal connections:Fifty-four percent of European respondents,and 42%of Americans,say they are integrating more clients into internal events.And some are adjusting when these events take place:Thirty-three percent of American respondents and 22%of Europeans say they are moving internal events to warm
46、er months,and more Europeans say they are integrating more clients.11Navigating toward a new normal How we work affects how we travel:WFH and video conferencing are changing travel decisionsWith COVID-19 being less of an acute health concern for many,and border restrictions increas-ingly similar to
47、the prepandemic period,why would corporate travel not immediately snap back to its prior growth trajectory?Bottom-line concerns and sustainability are two of the biggest reasons.And these are supported by the ability to leverage technology to decrease the number of trips needed.Companies continue to
48、 see some degree of tech replace-ability for all types of travel use cases.But there are clear standouts.Internal trainings and internal team meetings are rated as most replaceable,with more than 44%of respondents rating each at the extreme low end on the need for in-person interaction.On the other
49、end of the spectrum,only 7%and 11%of respondents gave simi-lar ratings,respectively,to client acquisition and client rapportbuilding.The same technology that is replacing some travel is used by some companies on a daily basis to enable working from home(WFH),which seems likely to stick going forward
50、.Travel managers expect the future work-place flexibility model to have 3.2 times the WFH days compared to the prepandemic frequency(figure 5).Employees seem to prefer the hybrid work model as well.According to the Deloitte Global State of the Consumer Tracker,4 on average,people who can work remote
51、ly already are doing so for 2.6 days per week,but would like to do so for 3.5 days.This rise in WFH preference and incidence over the past two years has solidified some changes in the type of busi-ness trips taken.According to the survey,employees are traveling to more to cities within driving dista
52、nce from their location.There is also a reported increase in trips to the company headquarters by relocated employees,most of which(70%)are either completely or partially paid for by the company.The biggest impacts that flexible work arrangements are having on travel volume are less direct:Companies
53、 have learned that virtual conferencing can support,to some degree,every business need that travel serves.And distributed workforces make it more complicated to arrange in-person meetings with clients,prospects,and internal teams that are spending fewer days in the office.12Future work from home day
54、s per week expected to be more than triple prepandemic Figure 5Workplace flexibility over time:Days per week work from home0.73.92.72.20.01.02.03.04.0Prepandemic20212022Expected future model3.2XQuestion:Please choose the workplace flexibility level that prevailed or that you except to prevail in you
55、r company at the given points of time.Note:N=334.Source:2023 Deloitte Corporate Travel Survey.Compared to Deloittes 2022 survey,there has been big movement in the incorporation of nonhotel accommodation into company travel policies.Among US companies:Only about 10%do not reimburse for nonhotel accom
56、modation,down from half in 2022 45%have nonhotel lodging in their corporate booking tools versus 9%last year 57%have agreements with specific branded apartment/home rental providers,up from 23%in 2022European companies trail slightly behind American ones in formal arrangements(incorporation into boo
57、king tools or agreements with specific providers),but one in four reimburse employees for nonhotel stays without such formal structures in place.NONHOTEL LODGING13Navigating toward a new normal After higher travel costs,the need for flexible bookings and travel comfort expectations are top pressures
58、 on travel budgetsFigure 6Cost driversCost-control measuresLast-minute bookingsChoosing sustainable travel providersFlexible bookingsHigher travel prices52%Employees luxuryexpectations63%49%51%45%Increasing compliance tobooking processPicking cheaper,alternative lodging options58%59%55%56%45%Negotia
59、ting preferred ratesPicking lower-cost flightsLimiting travel frequencyQuestions:Aside from rising travel frequency,rank the top three factors increasing travel costs for your company in 2023.What are some measures your company is taking to control travel costs as travel frequency increases?Note:N=3
60、34.Source:2023 Deloitte Corporate Travel Survey.Cost control and contracting:Renegotiating with new needs,expectationsAs corporate travel continues its expan-sion after three lean years,companies face a challenging cost environment.Higher airfares and room rates are the largest contributor to growin
61、g costs,and they have also become the No.1 factor deterring the number of trips taken,up from No.5 in 2022(figure 4).While consumer industries have been affected by infla-tion broadly,and published airfares and room rates have also risen for leisure trips,5 corporate travel faces distinct pressures.
62、After years of reduced travel,many companies are working to accommodate shifting expectations from their workforce.About half of respondents report that employees expectations of luxury services(such as first or business class airfares and upscale hotels)and the need for flexible or last-minute book
63、ings are pushing costs up in 2023(figure 6).A similar share say that the pursuit of sustainable providers also adds to costs.14At the same time,some companies have also been rene-gotiating contracts after two or more years in a holding pattern due to the pandemic.Three in 10 respondents say that sup
64、pliers froze their negotiated rates in 2020 and 2021 based on(higher)2019 volume.This was true for more American respondents(35%)than European ones(28%).The possibility of prolonged lower business travel may be affecting negotiations.As suppliers and travel buyers have worked to update their contrac
65、t terms in 2022 and 2023,some have encountered significant rate increases.In Q4 earnings calls,the CEOs of Marriott,6 IHG,7 and other leading hotel companies attributed recent strong performance partly to higher corporate rates.Overall though,most buyers seem satisfied with the deals they are striki
66、ng.About one in five(19%)say that hotels are less accommodating on rates because they expect lower volume;just 11%report the same for airlines.European suppliers appear to be less forthcoming with competitive rates than Americans:Fifty-four percent of European respondents report favorable airline pr
67、icing on positive volume expectations versus 63%in the United States.That regional gap is similar on the hospitality side(figure 7).In both regions,travel buyers generally believe that suppliers are taking a long-term view of their rela-tionships versus pressing their advantage in the moment.Higher
68、rates likely have a dampening effect on the number of trips taken,but less so than last year.Just under half(45%)of companies say they limit frequency to control costs,down from 72%in 2022.Instead,the focus has shifted to mitigating the cost per trip with cheaper lodging(59%)and lower-cost flights(5
69、6%).Americans find suppliers more accommodating on rates than their European counterpartsFigure 7Respondents perceptions of supplier negotiationUnited StatesEuropeAviation suppliers approach to contract negotiationsHospitality suppliers approach to contract your recent experience,how have airline an
70、d hospitality suppliers moved in their approach to contract negotiations?Note:N(US)=106;N(Europe)=228.Source:2023 Deloitte Corporate Travel Survey.Offering competitive ratesLess accommodatingon ratesLong termTransactionalOffering competitive ratesLess accommodatingon ratesTransactionalLong term15Nav
71、igating toward a new normal Higher aspirations:Travels strategic positioningThe experience of 2020 and much of 2021 demonstrated that businesses could still function with travel at a near standstill,saving companies millions.But even the most bottom line-driven leaders likely know that travel is mor
72、e than just an expense line.COVID-19 lockdowns brought travel-related decisions into the boardroom for many companies overnight.And for many,the calculus of when and how to return to the road may have also helped to reinforce a more strategic positioning.When asked about five different approaches co
73、mpanies could take toward considering the value side of the travel equation,63%of respondents said their company has adopted at least three to some extent(figure 8).Most prominently,seven in 10 say their company strategically evaluates and prioritizes travels potential outcomes(such as revenue gener
74、ation)and side effects(such as cost,emissions,and health risks).While these numbers demonstrate that a majority of companies treat travel with some strategic importance,they also indicate potential room for improvement.The travel management function has historically focused on controlling costs,and
75、many companies are likely in early stages of better tracking how the benefits warrant those costs.Corporate travel suppliers and partners may have opportunities to help companies navigate toward better optimization,both by playing a bigger role in support-ing positive trip outcomes,and by helping to
76、 measure trips impact.Evidence points to companies treating travel with some strategic importance Figure 8Travels strategic positioning within respondent companies70%Strategically evaluate and weigh potential impactsCosts,emissions,employee retention,revenue generation,health and safety,etc.66%Ident
77、ify and prioritize trips generating more significant outcomes62%Regularly assess travel strategy at the C-suite or board level 60%Systematically value each trips justifiability and goal46%Attach measurable KPIs to travel budgetsReturn on investment,impact on productivity,etc.Question:Which of the ab
78、ove statements reflect your companys approach to travel?Note:N=334.Source:2023 Deloitte Corporate Travel Survey.16Although just one in seven surveyed companies in the United States and one in five in Europe expect sustainability curbs to reduce their travel in 2023,just over 40%of each say they are
79、working to optimize their corporate travel policy to decrease their environmental impact.Amid the growing focus on sustainability,most companies are looking to reduce travel per employeeFigure 9Reduction in per employee travel spend needed to meet 2030 sustainability targetsLess than 10%10%20%21%30%
80、More than 30%United StatesEurope21%47%28%5%14%46%34%6%Question:In order to meet your companys emissions goals,how much do you estimate you will need to reduce travel on a per employee basis by 2030?Notes:N=334.Figures may not add to 100%due to rounding off.Source:2023 Deloitte Corporate Travel Surve
81、y.Sustainability:Seeking a path to greener travelAs some companies seek to reduce their carbon footprint to meet either regula-tory requirements or their own goals,travel attracts attention as a significant contributor to emissions.Although just one in seven surveyed companies in the United States a
82、nd one in five in Europe expect sustain-ability curbs to reduce their travel in 2023,just over 40%of each say they are working to optimize their corporate travel policy to decrease their environmental impact.With sustainability being a clear corporate priority for many,travel suppliers have invested
83、 significantly in initiatives to reduce their carbon footprint and demonstrate their green commitmentfrom designing brand-wide initiatives and striving to maintain multiple sustainability certifications,to funding research and incu-bating startups.In addition to reducing emissions,these efforts by a
84、irlines and hotels are also aimed at attracting and retaining corporate clients.The stakes for these investments are real.As it stands,four in 10 European companies surveyed and a third in the United States say they need to reduce travel per employee more than 20%by 2030 to meet sustainabil-ity targ
85、ets(figure 9).And many are building this into their policies:Forty-three percent of respondents(42%in the United States and 45%in Europe)say they are in the process of implementing a structure to assign carbon-emission budgets to teams alongside financial budgets.Complications abound for consistent
86、emissions tracking and for mandating such budgets.17Navigating toward a new normal To better understand which supplier efforts are most likely to support continued engagement with travel buyers,Deloitte looked at seven different sustainability metrics or attributes for hotels,airlines,and car rental
87、 providers.About two-thirds of companies say they are taking each into consideration,but the degree and type of consideration varies(figure 10).Overall mandated use by survey respondents is relatively low and is most widely adopted around the following:electric rental cars(possibly requiring employe
88、es to book them when available),airline seat upgrades,and carbon emissions per flight itinerary.These attributes are also most likely to be flagged in corporate booking engines,perhaps due to relative clarity compared to hotel-related attributes.On the hotel side,there appears to be a lot of data co
89、llection and tracking,but less activity that clearly signals sustainability efforts can help attract more bookings.Travel suppliers and intermediaries should stay in conversation with corporate buyers on their progress in tracking travel emissions,and arming travelers with information to choose the
90、most sustainable alternative.It may not be easy to create verifiable standards to measure the climate impact of each travel purchase,but demand for such standards is apparent.Despite challenges in data collection and consistency,most travel buyers gather and track several sustainability metrics Figu
91、re 10Travel buyers consideration of sustainability attributes and initiativesQuestion:What best describes your companys approach to the above sustainability initiatives/measures by travel suppliers?Note:N=334.Source:2023 Deloitte Corporate Travel Survey.HotelCollect and track dataUse to calculate tr
92、ips carbon footprintFlag in booking engineMandate use by travelersNot consideringAirlineCar rentalProximity to minimize transport emissionsFare clases and seat upgradesCarbon emissions per flightAvailability of electric vehiclesChainwide sustainability standards and initiativesUse of sustainable avi
93、ation fuelSustainability certifications and ratings40%32%16%12%30%38%24%14%23%31%29%14%25%31%29%11%23%27%34%17%24%29%31%17%24%27%30%19%32%29%31%31%31%32%30%18Love it,hate it,or indifferent,the phrase“new normal”seems applicable to corpo-rate travel in 2023 and 2024.Any talk of an upward trajectory f
94、or travel may carry caveats for at least several years,given the recent pastcaveats about variants,new health emergencies,and economic and geopolitical instability.But barring major crises,corporate travel looks poised to bound upward for a year or so,before a likely return to the single-digit gains
95、 that were common prior to the pandemic.The most significant new aspects of the new normal are coming into sharper focus.Changes in how work gets done look likely to limit corporate travels upside and alter the stakes of trips taken.Sustainability commit-ments and requirements also are expected to l
96、imit corporate travel growth,but opportunity is apparent in the willingness among travel buyers to work side by side with suppliers as they seek ways to make travel greener.And all of this appears to be happening in the context of a delicate and shifting balance around cost,value,and the strategic p
97、ositioning of travel.For the travel suppliers and intermediaries that serve corporate clients,these emerging realities could create openings for smarter partnerships and collaborations that have the potential to unlock travels competitive advantages while minimizing its downsides.Conclusion1.Eileen
98、Crowley et al.,Getting back to getaways:2022 Deloitte summer travel survey,Deloitte Insights,May 24,2022.2.Layoffs.fyi,“Companies with layoffs,”accessed March 30,2023.3.China TravelNews,“Chinas visa and passport backlog obstructs business travel reboot,”accessed March 30,2023.4.Deloitte,“Global Stat
99、e of the Consumer Tracker:Showing the evolving face of consumer behavior,”March 22,2022.5.Deloitte,“2023 Travel industry outlook:Recalibration required for this years business itinerary,”accessed March 30,2023.6.Seeking Alpha,“Marriott International,Inc.(Mar)Q4 2022 earnings call transcript,”Februar
100、y 14,2023.7.Seeking Alpha,“InterContinental Hotels Group PLC(IHG)Q4 2022 earning call transcript,”February 21,2023.EndnotesAcknowledgmentsThe authors would like to thank Stephen Rogers and Sanjay Vadrevu for their contributions to this article.Peter Caputo Peter Caputo serves as a principal in the V
101、aluation practice of Deloitte Transactions and Business Analytics LLP(DTBA)as well as the US Hospitality sector leader,supporting Deloittes hotel,cruise,time-share,and online travel agency(OTA)clients.Leveraging his engineering,accounting,and valuation background,he assists clients in appraising a c
102、ompanys assets,liabilities,and overall business.During his 26-year tenure with Deloitte,he has advised clients on premerger and postmerger valuation issues,construction advisory,reorganization,and tax-planning.Matt Soderberg Matt Soderberg is a principal and leader of the Finance Operations Improvem
103、ent practice of Deloitte Consulting LLP.He focuses on large-scale finance transformation programs.As part of these large transformations,he has helped develop his clients vision for finance,optimized finance processes and organizations,and built and tracked business cases for finance transformation
104、programs.Eileen Crowley Eileen Crowley leads Deloitte&Touche LLPs US Audit&Assurance Transportation,Hospitality&Services practice.She has a history of serving large,complex multinational companies on Securities and Exchange Commission(SEC)reporting matters,mergers and acquisitions,information techno
105、logy,and capital transactions.Michael Daher Mike Daher serves as vice chairUS Transportation,Hospitality&Services(THS)leader of nonattest services.He is responsible for harnessing Deloittes cutting-edge industry insights and unmatched depth and breadth of consulting,risk,and financial advisory and t
106、ax capabilities to help THS clients solve their most complex business issues.Deloittes THS client portfolio includes market-leading airlines,trans-portation,cruise,hotel,restaurant,casino,and service organizations.Maggie Rauch As Deloittes research manager for Transportation,Hospitality&Services,Mag
107、gie Rauch collaborates with firm leadership to design and execute research on the state and future of the industry.She has a decade of experience as a travel industry subject matter expert and research team leader.Bryan TBryan Terry is a managing director with Deloitte Consulting LLP and serves as t
108、he firms Global Aviation leader.With more than 25 years of industry experience,Terry has successfully led challenging and complex projects across the airline enterprise,including commercial strategy,operational excellence,customer experience,loyalty,crew and workforce management,cost reduction,infor
109、mation technology,and industry consolidation.Scott Rosenberger Scott Rosenberger,principal,Deloitte Consulting LLP,is the US Consulting Travel,Hospitality and Leisure leader,and US Aviation and Transportation leader.With more than 20 years of experience,he has consulted globally for the travel,hospi
110、tality,leisure,and trans-portation clients specializing in technology integration.Rosenberger has been involved in all phases of technology planning,development,and integration and is the service leader for enterprise architecture.Upasana Naik Upasana Naik is a senior analyst at Deloittes Consumer I
111、ndustry Center.She works with leadership to conceptualize,design,and develop research projects focused on the Transportation,Hospitality&Services industry.She has over three years of expe-rience in the industry.About the authorsContact usIndustry leadershipPeter CaputoUS Hospitality leader|Principal
112、|Deloitte DTBA+1 201 320 8971|Peter Caputo is a principal at Deloitte DTBA and serves as the US Hospitality sector leader.Matt SoderbergUS Airline leader|Principal|Deloitte DTBA+1 214 840 7726|Matt Soderberg is a principal at Deloitte DTBA and serves as the US Airline sector leader.Scott Rosenberger
113、US Aviation and Transportation leader|Deloitte Consulting LLP+1 404 942 6535|Scott Rosenberger,principal,Deloitte Consulting LLP,is the US Consulting Travel,Hospitality and Leisure leader,and US Aviation and Transportation leader.Bryan TerryGlobal Aviation leader|Managing director|Deloitte Consultin
114、g LLP+1 678 431 4676|Bryan Terry is a managing director with Deloitte Consulting LLP and serves as the firms global Aviation leader.Michael DaherVice chair and US Nonattest leader|Principal|Deloitte Consulting+1 212 313 1977|Mike Daher serves as vice chairUS Transportation,Hospitality&Services(THS)l
115、eader of nonattest services.Eileen CrowleyUS Travel,Hospitality&Services coleader|Partner|Deloitte&Touche LLP+1 203 708 4199|Eileen Crowley leads Deloitte&Touche LLPs US Audit&Assurance Transportation,Hospitality&Services practice.22Deloitte Consumer Industry CenterMaggie RauchManager|Transportation
116、,Hospitality&Services Research lead|Deloitte Services LP+1 212 436 5947|Maggie Rauch is a manager with Deloittes Consumer Industry Center and serves as the Transportation,Hospitality&Services research lead.Upasana NaikSenior analyst|Transportation,Hospitality&Services|Deloitte Support Services India
117、 Pvt.Ltd.+1 404 836 8752|Upasana Naik is a senior analyst with Deloittes Consumer Industry Center and serves the Transportation,Hospitality&Services industry.23Navigating toward a new normal About the Deloitte Consumer Industry CenterThe Deloitte Consumer Industry Center provides premiere insights b
118、ased on primary research on the most prevalent issues facing the consumer industry to help our clients run effectively and achieve superior business results.The center is your trusted source for information on leading trends and research that connect insights,issues,and solutions for Deloittes four
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