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By Sian Bennett

Kantox presents industry-leading FX travel report at Fitur

Published February 1, 2019

Kicking off the travel industry event calendar for 2019 was Fitur, one of Europe’s biggest international travel and tourism fairs. Held over five days at the Feria de Madrid exhibition centre, Fitur is an essential date in many travel players’ diaries.

Celebrating its 39th edition, Fitur welcomed its usual high number of attendees and exhibitors. Last year a reported 140,120 travel professionals from around the world attended with 2019 seeing similar numbers stream through its doors.

This year was also the first time that Kantox showcased its award-winning software for travel players in the Technology and Global Business area.

Travel is one of the few highly digitalised industries with technology playing a critical role in its ongoing development. Travel and tourism has also seen a surge in recent years, with more affordable travel options now available to most people. However, its popularity has also brought increasing competition as new businesses seek to enter this exciting industry.

Remaining competitive whilst battling the usual sector challenges – such as very tight margins and industry consolidation – has lead many travel companies to search for innovative solutions to stay ahead.

One of the ways this is possible is through embracing currencies and using technology to automate FX management processes and pricing.

Kantox COO and co-founder, Antonio Rami, who attended the event, firmly believes that “Every single player in the travel distribution value chain can benefit from effective currency management.” He shared this sentiment in our recently released report, FX as a Disruptive Force in Travel Distribution, which was available at Fitur.

The unique document clearly outlines the different hedging and currency management strategies employed by different travel players – with varying degrees of effectiveness.

“Our report reflects an in-depth understanding of the travel industry, with knowledge that has been built during our many years serving this sector,” continues Toni.

“We now work with over 100 clients in the travel industry, including OTAs, bedbanks and hotel groups amongst others.  Exhibiting at Fitur was a great opportunity for us to connect with new companies that hadn’t heard of us before and strengthen existing ties.

“Overall, we had a lot of positive feedback and interesting conversations with businesses about how they can use currencies to their advantage. We are already looking forward to exhibiting in 2020,” he concluded.  

Download our report: FX as a Disruptive Force in Travel Distribution

The 10-part report is available from Kantox’s website and can be downloaded here. Some of the key topics covered include:

  • Why using one currency is riskier than many CEOs think
  • How pricing is a key undercover FX tool to drive growth
  • The advantages and downsides of using different hedging strategies
  • How companies unconsciously use speculation in place of FX risk management

 

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