We broke the news on December 1 but it’s still sinking in. After hearing no mention of it on investor calls, we tried to contact the loquacious JPMorgan Chase analyst Jamie Baker to talk about it. We didn’t get a hold of him. This week, Baker told AA, “It feels as if you are taking…
Despite strong underlying demand, slowly recovering business travel, constrained capacity and rising costs, business airfares slipped in 2022. There are indications that fare growth in 2023 will be modest, at least in North America. American Express Global Business Travel in December said it anticipated a roughly 3 percent increase for corporate airfares within the region…
Pricing power for lodging suppliers, an altered traveler profile and uncertainty on the buyer side created unusual outcomes for 2023 rate negotiations. At some Hilton properties, this meant refusing to offer static negotiated rates and walking away from business. As customers sought to move rate programs back to the traditional static structure from a dynamic…
The business travel recovery is slipping as the year winds down. After a flattening in the spring and a pop in early fall, industry data in recent weeks showed declining volumes relative to 2019’s baseline. The rapid rebound in early 2022 is a memory and corporate volumes remain well below the peak from three years…
CWT last week announced that its RoomIt division would provide Amazon with hotel category services including sourcing, booking and rate reshopping. Amazon previously used HRS for worldwide sourcing as part of a “multi-year” agreement due to commence in 2019, according to a late 2018 announcement. Business Travel News in September identified Amazon as the largest…
Some suppliers are describing corporate travel demand recovery trends beyond 80 percent relative to 2019, but a cross section of the landscape based on large-client data from Emburse is not so optimistic. Emburse for the quarter ending in September found that domestic U.S. air booking volume was down 36 percent versus 2019. Total domestic air…
The biggest knock on any discount program buyers secure with hotel properties and chains is that travelers can’t access preferred rates. That wastes the negotiating effort and eliminates some expected savings. According to Tripbam, for many enterprise clients, that’s been the case this year for chainwide deals. The reasons aren’t clear. Due to localized hotel…
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