business travel
Redefining Business Mobility: Insights Into Travel and Office Trends for 2024
Charles Oswald | April 12, 2024
By Charles Oswald During his recent conversation with Ryan Embree for the Hospitality Trailblazers series on the Suite Spot podcast, President and CEO Charles E. Oswald talked through his trends and predictions for 2024. Here, Charles expands on those thoughts. In the ever-evolving business travel landscape, we observe significant shifts in market trends. Currently, there’s a general softening in leisure travel trends coupled with an improvement in business travel. These changes are critical as we adapt and strategize for the future. Key indicators that are paramount in our analysis include Office Utilization trends and Air Traf...
The 2024 Group Business Forecast: Trends to Help Hotels Capitalize on the Back-to-In-Person Boom
Mike Pavicich | February 6, 2024
By Mike Pavicich Group business is back in a big way. In-person events are returning to their pre-COVID normal pace. In 2024, 81 percent of meetings will have an in-person component in them. A recent study by Deloitte anticipates that by 2024, business travel spending will return to its level before the pandemic. This view is echoed in Accor's data, which shows in their latest survey regarding client business travel that 57 percent of those surveyed anticipate a budget increase for travel in 2024 compared to 2023. With this influx of in-person gatherings, in 2024, event technology is projected to become even more critical, providing k...
Business Travel Industry Anticipates a Strong but Challenging 2024 According to Latest GBTA Poll
GBTA | January 31, 2024
Global industry professionals report strength in business travel numbers, outlook on potential risks ahead, and how travel policies are evolving to meet the needs of a remote / hybrid workforce The global business travel industry has put the pandemic behind it and is riding a wave of momentum at the start of 2024. A majority of travel buyers report increases in bookings and spending for 2023 and expect this year-over-year growth trend to continue as they also prioritize sustainable travel in their organizations. Nearly 60% of travel buyers expect more travel in the coming year, with two-thirds anticipating increases in business travel ...
An Example of Profitable Corporate Wellness Programming
Adam and Larry Mogelonsky | November 29, 2023
By Adam Mogelonsky, Larry Mogelonsky In the post-pandemic bullwhip we are still ebbing and flowing through, one big question mark is surrounding the future of business and group travel. Gone are the days of the LOS=1 road warrior as those meetings can be cheaply substituted for videoconferencing. Instead we are seeing more LOS=3 MICE where groups are looking to actually experience a destination or add in a wellness component in order to better facilitate real conversations and more meeting productivity. This is still a very unsaturated space; while leisure has embraced wellness across most categories, business and bleisure are not there...
European Business Travel Spending Is Forecast to Reach $450 Billion USD by 2027
GBTA | November 15, 2023
Expected spending on business travel across Europe continues to steadily increase due to pent-up demand, hybrid work environments, the return of travel and meetings and more stable economic conditions, according to GBTA Business Travel Index™ Outlook regional analysis After a slower regional rebound over the last few years, business travel spending in Europe is expected to surpass its pre-pandemic spending level of $391.9 billion USD in 2025, when spending is forecast to reach $414.9 billion. This is later than the forecast for global business travel recovery, which is expected to reach $1.5 trillion in 2024 − and grow to nearly $1.8 t...
U.S. Travel Hires Ishma Haider as Vice President, Group Travel
U.S. Travel Association | November 15, 2023
WASHINGTON (November 14, 2023)—The U.S. Travel Association announced today the addition of Ishma Haider as Vice President, Group Travel, a new position that will bolster the association’s work to increase group/meetings travel to and within the United States. “Investing in group travel and strengthening our role in this critical segment of the travel economy is central to U.S. Travel’s future focus, and we welcome Ishma to the team to lead this effort,” said Geoff Freeman, President and CEO of the U.S. Travel Association. “Her accomplishments in convention marketing and her deep understanding and passion for the meetings segmen...
Economic Headwinds and Geopolitical Tensions Will Likely Impact Hotel Performance Through 2024 According to PwC
Hospitality Directions | November 13, 2023
Leisure demand, while still strong, began to soften in the back half of this year for US hotels, as other parts of the world continued to reopen their vacation destinations and leisure travelers began to once again feel safe traveling abroad. Increases in individual business travel and group business have not yet been able to fully offset this softening. As a result, occupancy levels have declined in each of the past seven months, relative to comparable 2022 levels, and are expected to continue to be down during the remainder of this year and through at least the first quarter of 2024. Room rate growth had played a significant role in the ini...
Global Business Travel Industry Sees Rebound in 2023 With Shifting Challenges and Opportunities for 2024
GBTA | October 30, 2023
Latest GBTA Business Travel Outlook Poll reveals positive recovery sentiment, emerging forecasts, industry priorities and potential barriers for the year ahead The majority of professionals in the global business travel industry say the sector has reached near-full recovery this year since the pandemic days of 2019. But even as business travel has rebounded, the industry is looking ahead at key areas poised for change and impact in 2024, with an emphasis around travel cost management strategies, sustainability, the transformation of retailing models, and the integration of emerging technologies. This is according to the latest GBTA Bus...
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