business travel
Global Industry Leaders Express Optimism for the Future of Travel & Events as Group Business Shows Steady Growth
Amadeus | November 8, 2022
Amadeus, along with Meeting Professionals International and Salesforce, unveil the state of meetings & events through perspectives of global industry experts. Group business is set for a strong corporate and conference season in Q4 2022. Group bookings are now starting to extend more confidently into 2023 with 48 million room nights already committed globally for H1 2023, a 16% increase over the same time in 2022, according to Amadeus’ business intelligence data. Forward-looking insights from global industry leaders echo overall optimistic outlook. As hoteliers evaluate their group business opportunities, a new meetings an...
Demand or Decline: Business Travel Contracting in Uncertain Times
Vindow | November 2, 2022
By Andrea Coronel In the hospitality industry, we are seeing divergent opinions from experts on what the future holds for business travel. Some projections offer great news, both about the current state of the industry and what the coming years will hold: According to Knowland’s Q3 U.S. and Top 25 Markets Meetings Recovery Forecast (October 12, 2022), “Q3 performance pushes head of the previous forecast and positions 2023 to be a year of growth for hospitality meetings and events… Since the forecast in July, the outlook for the U.S. has been raised from 72.6 percent recovery by the end of 2022 to 73.1 percent recovery… Meeting l...
U.S. Travel: Meals and Entertainment Tax Bill Will Boost Small Businesses, Travel Workers
U.S. Travel Association | October 26, 2022
U.S. Travel Association Executive Vice President of Public Affairs and Policy Tori Emerson Barnes issued the following statement on the introduction of the Service Worker Economic Stabilization Act, introduced by Congressmen Darin LaHood (R-IL) and Jimmy Panetta (D-CA): “This critical bill helps put business travel spending and in-person meetings on a level playing field with other legitimate business expenses while supporting small business owners and workers in America’s restaurants, theaters, arts and entertainment venues. “Business travel spending is not expected to fully recover until 2027, and this bill will help bridge th...
Can We Close the Gap Between Business Travelers and Their Corporate Travel Programs?
GBTA | October 19, 2022
New report from GBTA and Deem examines the balance between employee travel satisfaction and corporate cost and policy objectives and the role innovation can play As business travel continues its steady return and recovery around the world, what does the landscape look like now for both companies and their employee travelers? A new research report – “The Dawn of the Employee-Centric Travel Program” – released today by the Global Business Travel Association (GBTA), the world’s largest business travel association, and Deem, a leading mobile-first corporate travel management software provider, explores the current state and role...
Düsseldorf’s Hotels See Corporate Demand Start to Grow, Says HVS
HVS | October 17, 2022
17 October 2022, London: Hotels in Düsseldorf, the world’s top destination for trade fairs and business conventions, have seen a market bounce in the second half of 2022 in line with the Germany’s economic growth and the slow return of international and business demand. The city, which has experienced consistent growth in tourism over the past decade, traditionally benefits from strong corporate and MICE demand with some 1.6 million visitors a year at its peak. However, the city’s MICE business was badly hit by the covid pandemic with visitation to Messe Düsseldorf, its main exhibition space, dropping 65% in 2020 and a further 45%...
Business Travel to Face Headwinds, Government Must Address Visa Delays, Travel Disincentives to Protect Economy
U.S. Travel Association | October 17, 2022
WASHINGTON (October 17, 2022)—The latest Business Travel Tracker finds American companies increasingly paring back pandemic-era restrictions on business travel amid developing storm clouds in the form of persistently high inflation and a looming recession—pointing to the need for immediate government intervention to sustain a positive rate of growth. Many companies slashed their business travel budgets during the pandemic, but less than half of companies (42%) still have policies in place restricting business travel—down from 50% in Q2. Businesses have shown a willingness to get back on the road, with 78% of business travelers ex...
Business Travel Continues Bouncing Back With a Strong Outlook for 2023, According to New Industry Poll From GBTA
GBTA | October 7, 2022
Alexandria, VA – The last quarter of a calendar year can typically be busy and productive for global business travel and travelers. But in a time when so much isn’t back to being typical, where does the recovery of global business travel stand now? The October 2022 Business Travel Recovery Poll released today by the Global Business Travel Association (GBTA), the world’s premier association serving the business travel industry, unveils the latest insights and sentiments from a survey of almost 600 business travel buyers, suppliers, and other stakeholders around the world. This survey marks the 29th poll in the GBTA series since the pan...
Global Hotel Occupancy Exceeds Pre-Pandemic Levels in July and August With a Strong Q4 Forecasted Across All Segments
Amadeus | September 28, 2022
For the summer of 2022, global hotel occupancy hit an average of nearly 70%, which is an increase of around 5% over the summer of 2019. Group and business travel segments are showing steady recovery in Q4, with 4.3 million group room nights already booked for H1 2023. After an outstanding summer of travel, Amadeus’ Agency360® and Demand360® data sources are showing strong recovery indicators for the remainder of 2022 and evidence of growing traveler confidence as the sector looks towards 2023. Amadeus’ in-depth Demand360® business intelligence data, which offers both retrospective and forward-looking insights to inform r...
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