How Companies Can Prepare for the Future of Business Travel

An SAP Concur blog post notes that COVID-19 has caused unprecedented disruption to the travel and hospitality industries: eight in 10 hotel rooms are empty, and 2020 is projected to be the worst year on record for hotel occupancy; ARC reported that airline ticket sales for the week ending April 5, 2020 fell 95.7% year-over-year. The article advises travel managers to take action to stabilize T&E programs, including adjusting T&E programs to support the changing business environment, ensuring reporting transparency, breaking down silos, preparing for the next disruption, and building stronger internal and external partnerships.