21 Oct Travel Tech Announces Support for Hospitality and Commerce Job Recovery Act
Travel Tech joins with the U.S. Travel Association and numerous other organizations in the travel and tourism industry to urge Congress to support the Hospitality and Commerce Job Recovery Act.
Statement by the Travel Technology Association in Support of the Hospitality and Commerce Job Recovery Act
“The travel and tourism industry has never seen anything quite like 2020, as the economic impact of the coronavirus has resulted in the loss of millions of U.S. travel industry jobs since March. In response to the pandemic, Travel Tech’s members and key stakeholders in the travel and tourism industry have implemented comprehensive safety measures to boost consumer confidence and in turn spur job creation, but ultimately Congress must take action to help support travel jobs and bolster the industry.
“That is why Travel Tech joins with the U.S. Travel Association and numerous other organizations in the travel and tourism industry to urge Congress to support the Hospitality and Commerce Job Recovery Act. This legislation provides numerous tax incentives that would lead to millions of people in the travel and tourism economy returning to their jobs, including enhancements to the Employee Retention Tax Credit and a modest tax credit for many Americans who choose to travel again. The travel industry is more than just airports, hotels, and major attractions. It includes the restaurants, shops, transportation suppliers, cleaning services, homeowners who rent out their homes, travel agents, and the countless small businesses who benefit from welcoming travelers to their towns from all over the country.
“Last year, domestic travelers spent $972 billion, generating jobs for 15.6 million Americans. The travel and tourism industry should be a top priority for members of Congress as they take steps to restore the American economy, and the Hospitality and Commerce Job Recovery Act is a step in the right direction.
“I applaud Sens. Catherine Cortez-Masto and Kevin Cramer for working together on this important proposal and urge the Senate to pass this bill.”
–Steve Shur, President, Travel Technology Association
Background
Travel Tech’s members’ technology has transformed the travel marketplace from end to end — from the way individuals plan, search, and book travel, to the support provided to travelers during their trips and the way suppliers market and sell to their customers — creating new efficiencies, promoting competition, and ensuring consumers and business travelers see all of their options, and travel, in a productive and safe manner. In short, the travel and tourism economy relies heavily on Travel Tech’s members and their 31,000+ employees across 35 states. Our members are on the front lines of travel and tourism around the world and thus have seen firsthand the swift and significant impact the coronavirus has had on the U.S. and global travel industries.
- In a typical year, domestic and international travelers in the U.S. directly support approximately 8.8 million American jobs and a total of 15.6 million American jobs indirectly.
- The World Travel & Tourism Council cites that the travel and tourism sector generated more than 10 percent of global gross domestic product and accounted for one in every 10 jobs created from 2014 through 2018.
- Fifty percent of air travel globally is booked through the independent channel (Travel Tech’s members), which means as the airlines are impacted by this outbreak, so too are the travel entities responsible for booking half of all air travel.
- Global distribution systems such as Sabre, Travelport, and Amadeus are integral to air travel, not just for booking tickets, but as critical IT providers that manage airlines’ most complex systems.
- Approximately 20 percent of U.S. hotel rooms are booked via online travel agents (OTAs) such as Expedia Group and Priceline.
- TripAdvisor influences $546 billion (10.3%) of global tourism spending worldwide via its metasearch and media platforms, informing travelers as they determine destination, length of stay, and total trip spend.
- Approximately 70 percent of U.S. corporate hotel bookings and 80 percent of U.S. corporate airline bookings are made through travel management companies (TMCs) such as American Express Global Business Travel, CWT, and BCD — which are empowered by global distribution systems (GDSs).
- The majority of cruises are booked via travel agents.
- One third of travelers have indicated that they have stayed in a short-term rental, enabled and powered by companies like Airbnb and Vrbo, and a majority of these entrepreneurs depend on the income to make ends meet.
