The Importance of Loyalty Management Programs in the Travel & Hospitality Industries

According to data provided by Research and Markets, the Loyalty Management Market is expected to attain a value of $6.2 billion by 2023 and growing at a CAGR of 18.6% during the forecast period. Loyalty Management is relevant in many industries including BFSI, Travel & Hospitality, Media & Entertainment, Healthcare, Retail, Telecom & IT, Manufacturing, and Others.

A report by Deloitte explains the importance of loyalty programs in the Travel & Hospitality industry, as many high-frequency travelers have carried their relationship with a particular brand loyalty program past a tipping point. The report claims that two-thirds of high frequency travelers stay at the same hotel brand for more than half their travel days, regardless of location. Snipp Interactive Inc. (OTC: SNIPF), Marriott International, Inc. (NASDAQ: MAR), Hilton Worldwide Holdings Inc. (NYSE: HLT), Hyatt Hotels Corporation (NYSE: H), InterContinental Hotels Group (NYSE: IHG)