Business travel outlook - better but not good
Admin
Published Date: 2009-10-21 A new survey says that business travel may show some signs of improvement for 2010, but not much. A staggering 10% unemployment rate and companies continuing to be frugal with travel costs are keeping analyst expectations for a solid travel in the year ahead at a minimum. Here's how each industry impacted by business travel stacks up. Airlines: The survey says that business-class fares on airlines will be up 1-6% while fares in general will be up 2-7% in 2010. Hotels: Hotel revenues have fallen nearly 20% in 2009 and are predicted to fall another 1-6% in the year ahead as supply remains plentiful. Conventions: Meetings and conventions have been cut this year and key convention destination cities like Las Vegas and Orlando are reporting visitors to the area are down 26% and 9% respectively. But don't be discouraged by this news. Corporate housing is utilized by more than just business travelers and we're seeing more relocated families, traveling nurses and professors, visiting mother-in-laws and more taking advantage of fully furnished rental properties. Plus, corporate housing is becoming a well-known alternative to hotels. As more business travelers become responsible for booking their own travel, more will come to personally learn about the perks the corporate rental world offers.
