Egencia Releases 2013 Global Corporate Travel Forecast
Corporate travel arm of Expedia says airfare ticket prices will rise about four percent next year; less so for hotel stays
Egencia?, an Expedia, Inc. company, today unveiled its 2013 Global Corporate Travel Forecast for air fares and hotel rates. Egencia found, based on improving from 2012, albeit still sluggish market conditions going into 2013, Average Ticket Prices (ATPs) and hotel Average Daily Rates (ADRs) for top corporate travel destinations will be slightly up overall in North America, Europe, and Asia-Pacific.
Average Ticket Prices for airlines are expected to be slightly up (5%) in North America, slightly up (3%) in Europe, and slightly up (5%) in Asia-Pacific in 2013.
Average Daily Rates for hotels are expected to be slightly up (3%) in North America, slightly up (2%) in Europe, and slightly up or flat (1%) in Asia-Pacific.
“The global economy is volatile, and we’ve seen some deterioration in CEO sentiment in recent months. But suppliers have carefully managed capacity this year so we expect, even with moderating demand, some slight pricing increases in most regions,” said Rob Greyber, President, Egencia. “Even with the potential for higher costs, we believe there are a number of opportunities to save and we are working closely with clients to ensure they achieve their goals.”
For full findings and analysis you can download the report here.
Egencia examined the supply environment at a market-level for over 50 destinations in North America, Europe, and Asia-Pacific.
Data and insight for this report were based on the statistical analysis of past and present industry trends, macroeconomic factors, market research and vendors’ capacity forecasts for 2013. Smith Travel Research (STR) and OAG filings were leveraged for a market-level analysis of Lodging and Air capacity, respectively. ARC, STR and Egencia Internal Data were used for market-level analysis of pricing.