Big Jumps Anticipated for International Airfares and Hotel Rates
Alexandria, VA, 2013-02-14 — /travelprnews.com/ — Companies in North America are more optimistic about business travel in 2013 but also bracing for higher travel costs only partially offset by modest budget increases. Hotels, airlines and meetings venues will capitalize on growing demand to wield more power in negotiations with corporations that spend on business travel, according to travel buyers surveyed in the GBTA Foundation’s 2013 Industry Pulse: Business Travel Buyers’ Sentiment report.
“Travel prices will be rising across the board, with international price growth especially robust as companies look abroad for opportunities,” said Joseph Bates, GBTA vice president of research. “Travel buyers are being pushed to balance higher costs, the need to get travelers on the road, and corporate budget constraints. Strategic travel management programs will play a key role for companies dealing with a tougher negotiating environment and focused on getting the most out of their travel spending.”
Highlights from the report include:
Projected Travel Rate Increases:
The GBTA 2013 Industry Pulse: Business Travel Buyers Sentiment report surveyed 297 travel buyers in the U.S. in October 2012. The report is available exclusively to GBTA members by clicking here and non-members may purchase the report through the GBTA Foundation by emailing pyachnes@gbtafoundation.org.
CONTACT:
Meghan Henning, 703-236-1133, mhenning@gbta.org
Rebecca Carriero, 212-446-1897, rcarriero@sloanepr.com
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