Digital transformation is a foundational strategic priority for travel and hospitality companies, even as the concept continues to evolve. Where this phrase once narrowly defined the shift from analogue to digital, it now references how companies are using technology to modernise their entire organisations and transform the traveler experience.

Unlocking the power of AI will be one of the primary focal points for the industry’s technology investments in 2024. In particular, opportunities presented by generative AI are increasingly at the forefront of innovation as an enabler for personalising the booking experience, serving travellers better during their journey, and running more efficient, profitable companies.

To stay competitive, travel and hospitality companies must continue to ensure that fundamental cloud computing and data strategies are embedded at all levels of their organisations. Doing so will ensure they are ready for the continued evolution of technology that drives the next generation of traveler experiences.

Now in its fifth edition, the annual survey of travel and hospitality executives from Skift and Amazon Web Services has shown meaningful progress in the industry’s digital transformation journey. This report highlights data from the survey, stories of successes, areas of potential improvement, and future opportunities to leverage technology for its highest and best use in service of a modernized traveler experience.

In this report:

• The pace of technology advancements is the No. 1 concern for business disruptions in 2024: Find out why this is the case and what travel and hospitality companies are doing to mitigate challenges caused by disruption due to rapid advancements in technology.
• 83 percent of executives said they increased their budgets for AI in 2024: Understand how they’re investing in AI to improve the traveler experience.
• 89 percent said generative AI will have a meaningful impact on their business in the next three years: Learn how travel and hospitality companies are using generative AI today and what’s on the horizon in the coming years.
• 67 percent of companies are in advanced stages of cloud adoption: See how a significant increase in usage of this technology is impacting the industry’s approach to data strategies.
• Company stories and case studies: Explore creative approaches to utilizing data and AI to satisfy evolving traveler demands and improve personalization.

• Executive Summary
• Methodology
• Introduction: The Paradox of Digital Transformation
• Why AI for Travel and Hospitality Is Different From Other Industries
• The Importance of Cloud and Data Foundations Is Now Fully on Display
• Conclusion