>> WELCOME BACK TO CHEDDAR NEWS
OUR NEXT SEGMENT BACK TO
BUSINESS BROUGHT TO YOU BY TRIP
ACTIONS. WE EXPLORE THE LATEST
IN THE WORLD OF CORPORATE
TRAVEL TO BACK TRIPS ACTIONS.
THE FUTURE OF TRAVEL AND
EXPENSE IS
NOW ARRIVING. NOW AS STATES AND
COUNTRIES REOPEN POST-PANDEMIC
ECONOMIES ARE PREPARING FOR NEW
WORLD OF BUSINESS TRAVEL
JOINING US TO DISCUSS THIS IS
DANNY THINK WILL
TO TREAT CHIEF TRAVEL OFFICE OR
A
TRIP ACTION AND YOU COULD GET
IN THERE ALL RIGHT DANNY,
ACCORDING TO A RECENT TRIP
ACTION DATA, WE KNOW THAT
BUSINESS TRAVEL HAS BOOKINGS
HAVE RECOVERED 383% SINCE THE
FIRST WEEK OF
2021. CAN YOU TALK ABOUT THOUGH
WHAT IS THE CURRENT STATE OF
BUSINESS TRAVEL RECOVERY.
YEAH.
>> ABSOLUTELY SO THERE'S
THERE'S NO QUESTION THAT WE
SHOULD TRAVEL HAS RECOVERED A
LOT FASTER THAN CORPORATE
TRAVEL. WELL LIKE YOU HAVE
POINTED WE'VE
PRETTY NEAR CONSTANT
EXPONENTIAL GROWTH IN CORPORATE
TRAVEL ALL OVER THAT PAST FEW
MONTHS. YOU THINK ABOUT IT THAT
MAKES SENSE CORPORATE
TRAVELERS ARMIES ARE TRAVELERS
AND SO YOU CAN UNDERSTAND THE
COMFORTABILITY WITH GETTING
BACK ON THE ROAD.
>> PEOPLE WE.
>> DO EXPECT TO SEE A LITTLE
BIT OF A PLATTER OVER
THE SUMMER AND I THINK THAT'S
PRETTY NORMAL WHEN IT COMES TO
CORPORATE TRAVEL TO PATIENTS
AND SUMMER CAMPS AND THINGS
LIKE THAT. BUT WE ARE HEARING
FROM OUR CLIENTS FROM TRAVELERS
FROM INDUSTRY WE REALLY DO
PRETTY RECOVERY IN THE FALL
BECAUSE THAT'S WHAT A LOT OF
ATTORNEYS ARE GOING TO GET BACK
INTO THE OFFICE THAT'S PLAN IS
GOING TO BE A LOT OR
USE CASES FOR TRAVEL AND SO WE
ARE VERY VERY BULLISH CHARACTER
ACTIONS ON ON THE
HAVING SUMS A FALL NEAR
RECOVERY OF CORPORATE TRIAL OF
COURSE WE'RE GOING TO KEEP A
WATCHFUL EYE ON THAT.
>> BACK TO YOU.
COVID. VARIANCE THAT KEEP
POPPING
>> THIS MAY DELAY SOME RECOVERY
WHEN IT COMES TO INTERNATIONAL
MARKETS BUT EVEN THIS MORNING,
THE UK ANNOUNCED THAT
THEY'RE PUTTING UP THE BORDERS
FOR VACCINATED TROPPERS NEXT
WEEK AND SO WE MAY NOT EVEN A
HUGE DELAY AN INTERNATIONAL
PROPERTY THINK FORWARD.
>> INTEREST AND SO WITH THAT
BUSINESS TRAVEL BOOKINGS ARE
GENERALLY ANCHORED BY FLIGHTS
RIGHT SO HOW DID THE TYPES OF
TRAVEL SHIFT. AMID THE PANDEMIC
AND WHAT DOES THAT TREND LOOKS
LIKE RIGHT NOW.
>> YEAH AS YOU RIGHTLY POINT IN
NORMAL BUSINESS TRAVEL
THERE ARE A VAST MAJORITY OF
THOSE BOOKINGS ARE MADE UP OF
SLIGHT WHAT WE SAW IN THE
BEGINNING OF THE HEIGHT OF TRAV
OF COVID WAS
THE BOOKING SORT OF DRASTICALLY
REDUCED AND WE SAW THAT THING
TAKING UP RENTAL CARS AND BUY
HOTELS WHICH. YOU KNOW THE
THING ABOUT IT MAKES SENSE
PEOPLE WERE NOT GOING AS FAR AS
SOME PEOPLE PROBABLY WEREN'T AS
COMFORTABLE. FLYING
ARE GOING TO THE BUT ALSO
AIRLINES DRASTICALLY REDUCE
THEIR SCHEDULES
AND SO BEEN A LOT OF CASES IT
WAS JUST MORE CONVENIENT TO
ACTUALLY I DRIVE OR RENT
A CAR. AND THE PAST FEW MONTHS
WE'VE ACTUALLY SEEN A RECOVERY
BACK
TO US OF COURT UNQUOTE NORMALCY
WHERE FLIGHTS AND ONCE AGAIN
AND REGAIN THAT TOP SPOT IN
TERMS OF
TRAVEL BOOKINGS AND WE'RE SORT
OF SEEING THAT WE'RE COVERING A
COUPLE
OTHER TRACK IS THIS WELL ONE
OTHER THING THAT WE SAW I WAS
AND WHO WAS SO
AGAIN IN NORMAL TIMES, A VAST
MAJORITY OF TRAVEL IS DONE BY
SALES. TEAMS SALES EXECUTIVE
SALES LEADERS OVER 50
IN BUT WE SAW THIS DROP DOWN TO
20% AND THE HEIGHT OF
THE PANDEMIC ONCE AGAIN WE'RE
SEEING A RECOVERY THAT'S
NEARING BACK UP TO 50% AND SAND
SALES, TRAVELERS AND SO WE ARE
STARTING TO SEE THIS NORMALCY
BUT ONE OTHER INTERESTING THING
THAT WE'RE SEEING IS ACTUALLY A
NEW CATEGORY OF BUSINESS
TRAVEL. TRADITIONALLY THERE
HAVE BEEN 2 TYPES THERE'S BEEN
WHAT WE CALL TRANS AND
CORPORATE TRAVEL
WHICH IS THANKS FOR MEETING OR
GOING AN INTERNAL MEETING
AND THEN MEETINGS AND EVENTS
AND WE'RE SEEING SORT OF THIS
MIDDLE GROUND OF WHAT WE'RE
CALLING GROUP MEETINGS BECAUSE
THERE'S THIS NEW HYBRID
WORKFORCE WHERE A LOT OF PEOPLE
WHO TRADITIONALLY WORKED IN
OFFICES WORK TOGETHER NOW SORT
OF DISTRIBUTED
ACROSS MULTIPLE LOCATIONS AND
SO YOU HAVE TEAMS THAT MAY
NEVER HAVE TRAVELED IN THE PAST
ENGINEERING TEAMS OR FINANCE
TEAMS OR HR TEAMS
NOW GETTING TOGETHER MORE
REGULARLY WHICH IS ULTIMATELY
CREATING THIS NEW CATEGORY
BUSINESS TRAVEL WHICH IS
PRETTY INTERESTING.
>> INTERESTING TO SEE THAT NEW
CATEGORY DEVELOPED TO YOUR
POINT YOU KNOW UNDER ONE OF
THEM BIGGEST ISSUES FACING
TRAVELERS RIGHT NOW OR AIRLINE
HOLE TIMES SOME OF THE AND YOU
KNOW STAY THEY WAITED SEVERAL
DAYS TO TALK TO A
CUSTOMER SERVICE AGENT HOW IS
THIS IMPACTING BUSINESS
TRAVELERS.
>> YEAH TRAVEL IS JUST MORE
COMPLEX TODAY THAN IT'S BEEN IN
SEVERAL YEARS THINK ABOUT THE
CHANGING CONDITIONS CHANGING
BORDER RESTRICTIONS
CHANGING SCHEDULES. THERE'S
JUST A LOT MORE THINGS THAT ARE
HAPPENING AND A LOT MORE TIME
IN CONTACTING.
YOUR AIRLINE. YOU'RE ALSO
SEEING A SUMMER STORMS ARE
SEEING REDUCED STAFF THE THING
WITH AIRLINES AND THIS IS TRUE
IN A VERY UNFORTUNATE DOMINO
EFFECT ON
WAIT TIMES THIS IS WHERE IT'S
ACTUALLY REALLY HELPFUL TO WORK
DURING AGENCY BECAUSE MANY
TIMES AGENCIES CAN BYPASS THE
TIMES THROUGH THERE AND SYSTEMS
TO THEIR OWN INTEGRATIONS IN
FACT YOUR TRIP ACTIONS
230% INCREASE IN
SUPPORT INTERACTIONS SINCE THE
START OF THE YEAR WE'RE
ACTUALLY STILL ABLE TO
MAINTAIN. YOU KNOW ANSWERING
THE PHONES ANSWERING OUR CHAT
AND 60 SECONDS OR LESS THAN 80%
OF
THE TIME AND SO REALLY HELPS TO
GO THROUGH AN AGENCY LIKE
ASKING WHAT'S REALLY
INTERESTING IS WE'RE ACTUALLY
SEEING A LOT OF OUR CORPORATE
TRAVELERS ACTUALLY START TO USE
US FOR A REASON
TRAVEL AND THE SUPPORT AND THIS
THIS WHOLE TIME THAT THEY'RE
SEEING WITHOUT USING THE AGENCY
IS IS A LARGE TRACTOR THAT.
>> AND SPEAKING OF THAT LAST
BEFORE I LET YOU GO HERE, I
WONDER YOU KNOW AS THE WORLD
GETS BACK TO BUSINESS TRAVELERS
AND THEIR COMPANIES ARE LOOKING
FOR TOOLS AND INFIRM ATION THEY
NEED IN ORDER TO FEEL SAFE AND
TRAVEL CONFIDENTLY WHAT EXACTLY
IS TRIP ACTION DOING TO FURTHER
HELP HERE.
>> YES, SO WE HAVE
SPENT A LOT OF RESOURCE
INVESTING IN PRODUCTS AND
SERVICES TO PUT A LOT OF
INFORMATION AT THE FINGERTIPS
OF OUR TRAVELERS
AND REAL THIS INCLUDES
OBVIOUSLY ALL OF THE CONSTANT
UPDATES OF THE EVER CHANGING.
BORDER RESTRICTIONS BORDER,
OPENING HE'S EVEN AT THE STATE
AND CITY LEVEL
COVID REPRODUCTION RATES YOU
KNOW LETTING PEOPLE KNOW
EXACTLY WHAT'S GOING TO HAPPEN.
AS IT RELATES TO THEIR VERY
SPECIFIC ITINERARY. AND WE'VE
ALSO INVESTED IN
A HEALTH SO TRAVELERS CAN
UPLOAD THEIR INFORMATION INTO
OUR APP AND PRESENT THAT AS
THEY GO ON
THEIR JOURNEYS. BUT IN YOU KNOW
WE'VE ALWAYS HAD THINGS REAL
TIME TRAVEL MAPPING SO
TRAVEL MESS. RICHARDS
ORGANIZATIONS CAN SEE WHERE
THEIR EMPLOYEES ARE IN REAL
TIME AND MAKE SURE THAT THEY
CAN MAKE THOSE ADJUSTMENTS ON
THE FLY WHICH WAS INCREDIBLY
HELPFUL AT THE START OF THAT
MIX WHEN THE WORLD ULTIMATELY
SHUT DOWN BUT CONTINUES TO BE
REALLY HELPFUL AS WE MOVE
FORWARD.
>> YOU COULD SEE HOW THOSE NEW
TOOLS IN THE ONES. THE COMPANY
ALREADY HAS EXTR