Report: How TMCs are planning for the future of business travel

In our new report The future of business travel: Is market optimism outpacing capability?, we asked 214 senior decision-makers at travel management companies (TMCs) in 10 global markets about the future of corporate travel and how prepared they are to deliver on it.

Overall, confidence is high — 95% of senior TMC decision-makers are optimistic about corporate travel over the next three years. Yet there are clear issues to address: less than 40% of those surveyed say they feel very confident in delivering on rapidly changing corporate traveler expectations.

These rising business traveler expectations have left some TMCs in a difficult position. While many leaders surveyed are clear on what travelers and corporate clients now want, far fewer are confident that their current systems and processes can reliably deliver it at scale.  

Despite knowing what matters most, only around 2 in 5 leaders feel very confident in delivering things like streamlined booking, duty of care, and concierge‑like service. The result is a growing expectation-execution gap, and closing that gap often involves changes to technology, data, and operating models, in addition to strategy. 

Technology — and increasingly AI — features in most TMC roadmaps for closing this expectation-execution gap. However, many organizations reported that they are still working through what it takes to move from pilots to scalable impact.  

Every leader said they have integrated AI into their operations “to some extent,” but fewer than half (44%) reported a very positive impact so far. Skill gaps, integration challenges, and competitive pressure were among the most-cited barriers.  

While AI may help address some of the industry’s longer-term issues, the research suggests that practical operational hurdles are limiting impact today.

As expectations continue to evolve, prioritization becomes a strategic choice. A useful approach is to decide which experience levers you want to be known for and sequence your investments accordingly.   

Our research points to a clear shortlist: streamlined booking (including unified tooling for business/leisure bookings), loyalty and personalization, duty of care, round-the-clock support, and concierge-like services. With so many fronts moving at once, focus on the few capabilities that matter most, then build out the broader offering over time. 

AI has potential, but AI investment and integration need clear direction and board-level support to deliver meaningful impact. In our research, only 30% of respondents strongly agreed that their existing data/analytics budgets are sufficient, and skills and integration gaps were among the most common roadblocks.  

Moving the needle with AI requires targeted use cases, backed with the right data, skills, and change management. Pilots can be a useful start, but lasting impact typically comes from scaling what works — particularly in areas like personalization, forecasting, and service triage. 

Traveler patterns continue to evolve, with many now opting for longer, more flexible trips that allow them to combine business and leisure, travel with family members, and visit multiple destinations on the same trip.   

With that in mind, now is a good time to review your current lodging mix (hotels vs. aparthotels vs. longer-stay options) and assess whether it matches the shifting needs of these travelers. In our research, 30% of TMC leaders cited alternative lodging inventory as a top growth opportunity right now, with business-friendly amenities and flexible policies emerging as key factors over the next three years.