Business travel and meetings have gathered significant
momentum in the first half of 2022, and there’s every indication that global
governments, economies and companies are ready to put pandemic-era travel
restrictions aside. Hotel occupancies are climbing, with stronger demand for
midweek room nights. Airline CEOs are flying high on the pickup of corporate
business. And car rental—we know they’ve seen record-level profits and have
made significant investments over the past two years. None of that seems to have
a slowdown in sight, and your travel program will need to keep pace.
Yet, the return to business travel won’t be without its
challenges. Leisure demand has skyrocketed. That demand spike along with the
help of macroeconomic trends like inflation is driving steep rate increases,
especially in the past six months. Market volatility, on top of that, will see
buyers constantly navigating a complex pricing environment in order to advise
their stakeholders and stay on top of budgets.
Travelers will need support as well. Hotel executives have
been open about depressed service levels even at business-class hotels as the
industry reopens with fewer workers and more training needs. Pilot shortages
and other capacity constraints have forced flight schedule cuts in the U.S. and
Europe over the summer travel frenzy. All these issues may have been the
expected groans of the travel machinery starting again, but now the industry is
dealing with actualities, not theories.
Strong travel programs and partnerships should help—and
that’s what BTN’s Business Travel Buyer’s Handbook is all about. Whether you
are implementing a travel program for the first time to support travelers
through new complexities or whether you are looking to optimize the program you
already have, the Business Travel Buyer’s Handbook is your go-to resource. Keep
it on the shelf for whenever you need a question answered or a new strategic
idea.
In the meantime, let’s all celebrate business travel’s
journey to recovery!