It's time to get comfortable with an uncomfortable topic - cybersecurity

HBX Group's own Paula Felstead, Chief Tech, Data and M&A Officer, offers key insights into the status of cybersecurity risks for the travel and hospitality sector, and how forward-looking businesses must adapt.

It's time to get comfortable with an uncomfortable topic - cybersecurity.

We are in an age where digital transformation is advancing at an unprecedented pace, and understanding the implications has never been more critical.

We exist in a reality which is evolving every day, and with it, so do the risks faced by our industry. 

Whether you're an individual or part of a business, security threats – from annoying spam emails to sophisticated phishing attacks – are a daily concern. On a global scale, these challenges become even more complex, especially as we operate within an interconnected ecosystem.

Taking an ecosystem approach has its perks: partners gain seamless access to global products and services, typically at a lower cost, and certainly with less friction. Interconnectedness is paramount to collective success, but an uncoordinated approach to cybersecurity can have a significant ripple effect. To put it plainly: if there is a weak link in the chain, then the whole chain becomes weaker. 

At HBX Group, we see cybersecurity as a communal obligation. We all owe it not only to our own organisations, but also to every individual and business connected to us. Every transaction made within this ecosystem reflects our duty, and over the past three years, we’ve faced emerging threats head-on by investing significantly in security. With a dedicated cybersecurity team, we’re committed to ensuring that every transaction is handled with care.

As we grow and innovate, we want to do so safely, trying to stay ahead of potential threats. Trust is the lifeblood of the travel ecosystem, so it’s vital that we keep investing in knowledge and technology to predict and mitigate risks—not just to protect our brand, but to safeguard the entire network of partners and clients we work with.

In an increasingly interconnected world, it is essential to champion awareness and collaboration around cybersecurity, empowering everyone to not just react to threats but to proactively work together. 

For this reason, I am pleased to announce our efforts in developing a Cybersecurity Consortium: by partnering with notable travel brands and cybersecurity experts such as Fox-IT and The Knox Corps, the goal of the Consortium is to bolster the travel industry’s defences against growing cyberthreats whilst supporting a wider network of travel professionals. Many do not have the necessary funds available to do this alone. 

By sharing valuable insights, best practices, and helpful advice, this collaborative effort will connect those in need with companies that can provide the necessary assistance and expertise, fostering a safer environment for everyone involved in the travel ecosystem.

It is my belief that actions such as this are required if we are to proactively address threats and work toward a secure digital future. The evolution of cybersecurity is not just about tech; it involves people, processes, and shared responsibility for our collective safety online. By sharing knowledge and openly discussing our challenges, we can cultivate a fortified cybersecurity landscape. 

I invite you to learn alongside us this Cybersecurity Awareness Month, as we share a wealth of insights and views from industry experts, including Fox-IT and The Knox Corps.