Higher Rates, More Flyers

According to the National Business Travel Association’s “2006 Business Travel Overview Forecast,” based on an online poll of 130 respondents, overall travel management costs will rise by 9 percent in the coming year. The highest single increase likely will be in hotel daily rates, which are forecasted to rise by 9 percent; airfares are projected to climb by 6 percent, and car rental rates by 5 percent.
    What follows are some characteristics of survey respondents and their predictions for travel spend in 2006.

93% will book fewer luxury hotels in favor of mid-class properties.
88% are using an online booking tool.
73% believe their hotel spend will increase due to higher rates.
51% have a mandated company travel policy.
50% expect to spend more on air travel.
41% expect their hotel spend to increase due to an increase in the
number of trips taken.
31% likely will spend more on air travel because of an increase in
the number of travelers.