What's Happening?
The travel industry is grappling with a significant issue of advisor no-shows at events, which has become more pronounced since the COVID-19 pandemic. Suppliers are experiencing financial losses due to the absence of advisors who register but fail to attend events. The cost to suppliers is estimated at around $65 per head, with additional expenses for planning, travel, and accommodation. The no-show rate has reportedly averaged 30% since the pandemic, with some suggesting it is even higher. This trend is damaging relationships between travel advisors and suppliers, as these events are crucial for building connections and learning about new products. Some agencies, like The Cruise & Travel Store, have implemented strict policies requiring staff to gain approval before committing to events to mitigate the impact of no-shows.
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Why It's Important?
The increase in no-shows at travel industry events has broader implications for the sector. It affects the ability of suppliers to effectively market their products and services, potentially leading to lost business opportunities. The financial burden on suppliers can also impact their ability to host future events, which are vital for networking and professional development within the industry. Furthermore, the strain on relationships between advisors and suppliers could lead to a breakdown in trust and collaboration, which are essential for the industry's success. Addressing this issue is crucial for maintaining the industry's reputation and ensuring its recovery and growth post-pandemic.
What's Next?
To address the issue of no-shows, some suppliers are experimenting with new strategies, such as banding together to host joint events and implementing no-show fees. These measures have shown promise, with some events experiencing no no-shows and positive feedback from attendees. If successful, these strategies could be adopted more widely across the industry. Additionally, there may be increased emphasis on fostering a culture of professionalism and accountability among travel advisors to ensure commitments to events are honored.
