BTN's 2023 Airline Survey; 2024 Projections for Corp. Travel Budgets, Hotel Rates

 

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November 29, 2023 BTN's 2023 Airline Survey: Delta Remains Dominant By Donna M. Airoldi Delta Air Lines continues to dominate BTN's annual Airline Survey, which empowers travel buyers to rate their airline partners across 11 performance criteria. Ratings across three of the four major U.S. airlines lost ground this year among challenges and distribution strategy changes. Read More Survey: Most Buyers Project 2024 Corp. Travel Budgets to Grow Corporate travel managers on average expect their organizations' travel budgets in 2024 to grow approximately 8 percent year over year as expectations for virtual meetings decrease, according to a new Morgan Stanley survey. Keep Reading PwC: Corp. Travel Spending Could Recover in '24 as Leisure Eases Business travel is tracking to reach pre-pandemic levels in terms of dollars spent next year, but a recovery in terms of volume is further off than that, according to analysis from PwC U.S. airline and travel practice leader Jonathan Kletzel. Keep Reading PwC Tempers U.S. Hotel Forecast as Demand Slows PwC softened its projections for U.S. hotel occupancy in 2023 and 2024 amid economic concerns and an uncertain outlook for corporate travel. Keep Reading BTN Special Issue: Business Travel Innovation 2023 Today's business travel industry is underpinned by an intricate web of technology, tools and processes designed to enhance the booking and management of travel. This special issue of BTN examines the drive toward convenience, personalization and automation. Read More "We may get to dollars, but I don't think we'll get to volumes in 2024. Will corporate travel return in the same pattern? I think the general consensus is no." - PwC's Jonathan Kletzel Read More CBRE: U.S. Hotel 2024 RevPAR to Improve as Headwinds Ease Following "stiff headwinds" to U.S. hotel demand and pricing power this year, CBRE Hotels Research has lowered projections for 2023 revenue per available room but foresees improvement in 2024. Keep Reading STR Lifts '23 U.S. Hotel RevPAR Outlook on Higher Rates Average U.S. daily hotel rates in 2023 trended higher than projected, according to STR and Tourism Economics, which increased its growth forecast for 2023 U.S. RevPAR. Keep Reading AHLA Survey: Expected '23 Corp. Travel on the Rise More than two-thirds of surveyed U.S. business travelers expected to travel for work during the last three months of 2023, according to a survey by the American Hotel & Lodging Association. Keep Reading FCM Projects Growing Demand, Stabilizing Prices for 2024 Global travel costs have stabilized, and business travel volumes and budgets are poised to increase in 2024, according to FCM Consulting's Global Quarterly Trend Report. Keep Reading Tripbam Adds Dynamic Discount Renewal to Hotel Sourcing Tool Corporate travel reshopping platform Tripbam plans to add new hotel request-for-proposals capabilities to its Smart Sourcing tool next year. Keep Reading Phocuswright Conf. Roundup: Tech Investment Slows Global funding of travel technology companies has slowed to its weakest level in nearly a decade, though mergers and acquisitions in the broader travel space have proliferated in recent years, analysts said during the recent Phocuswright Conference. Keep Reading CWT Reports Debt-Cutting Recapitalization Actions CWT on Thursday said that it had completed recapitalization transactions that cut its outstanding debt by more than $450 million, or about 60 percent. Keep Reading Wyndham Board Again Rebuffs Choice Acquisition Bid Wyndham Hotels & Resorts' board of directors again rejected Choice Hotels International's revised proposal to acquire the hotel company. Keep Reading Wheels Up Receives Additional $40M Investment Private aviation company Wheels Up has received an additional $40 million in the form of a term loan from Kore Capital and Whitebox Advisors. Keep Reading STR: October U.S. Hotel Rates Rise, Occupancy Slips Average daily rate and revenue per available room among U.S. hotels in October increased year over year as occupancy fell, according to STR. Keep Reading Report: U.S. Ext.-Stay Q3 Rates Rise Slightly, Occupancy Slips  Read More Carriers Place Significant Aircraft Orders at Dubai Airshow  Read More ARC: October U.S. Air Ticket Sales Continue to Dip  Read More Report: Short-Term Rental Co. Zeus Living to Shutter  Read More Avianca CEO Neuhauser to Head Holding Co.  Read More Convene Names Bentley CFO  Read More Horizon Air Names Jason Berry President  Read More Singapore Airlines Names Lau Americas VP  Read More 301 Route 17 North, Suite 1150 Rutherford, New Jersey, USA 07070

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