Business Travel Insight 2015 - Leisure Travel | …tvlleaders.com/wp-content/uploads/2014/01/316902.pdfNovember 2015 Full 2016 Business Travel Insight ©2014, Travel Leaders Franchise

Business Travel Insight

2015

2015 Business Travel Forecast and Insight

Introduction Welcome to the Travel Leaders 2015 Business Travel Insight. As 2014 draws to a close, it is important to assess trends that will impact 2015 and how travel industry changes may affect individual clients in the coming year. The Travel Leaders Consulting Team constructs this yearly Insight document to assist our clients to understand some of the travel developments that may take place in the near future. To do so, our team analyzes an extensive variety of well-known global travel resources and incorporates Travel Leaders specific data patterns to create a customized forecast for our clientele. By reviewing the 2015 Business Travel Insight and working with the guidance of an experienced travel account manager to develop a sound strategy—we hope each client will gain a better understanding of the future of their business travel program and will be proactive in optimizing their travel programs. Travel Leaders Consulting Team November 13, 2014 [email protected]

Timeline of Upcoming Business Travel Insight

Updates:

April 2015 Quarter 1

Insight Updates

July 2015 Quarter 2

Insight Updates

October 2015 Quarter 3

Insight Updates

November 2015 Full 2016 Business

Travel Insight

©2014, Travel Leaders Franchise Group, LLC Page | 1

mailto:[email protected]


Table of Contents

Overview .................................................................................................................................................................. 4

2015 and Beyond: Trends to Watch ................................................................................................................... 4

Airline Consolidations ................................................................................................................................................................. 4

Corporate Hotel Rates and Demand ..................................................................................................................................... 4

Duty of Loyalty ............................................................................................................................................................................. 5

Flight Delays and Cancellations ............................................................................................................................................... 6

Global Uncertainty ....................................................................................................................................................................... 6

Ranks of Millennial Business Travelers Growing .................................................................................................................. 7

2015 Outlook for North America ........................................................................................................................ 7

Airline ........................................................................................................................................................................ 7

Travel Leaders Data: Airline ..................................................................................................................................................... 8

Airline Market Share ................................................................................................................................................................... 9

Hotel ......................................................................................................................................................................... 9

Travel Leaders Data: Hotel ...................................................................................................................................................... 9

Top 10 Hotel Markets .............................................................................................................................................................. 10

Ground Transportation ....................................................................................................................................... 11

Rental Car .......................................................................................................................................................................... 11

Travel Leaders Data: Rental Cars .................................................................................................................................. 11

Rail Travel .......................................................................................................................................................................... 12

2015 Global Outlook ........................................................................................................................................... 12

Airline ........................................................................................................................................................................................... 12

Hotel ............................................................................................................................................................................................. 13

Ground Transportation ........................................................................................................................................................... 13

2015 Outlook for the Asia Pacific Region ........................................................................................................ 14

2015 Outlook for Europe, Middle East, and Africa ........................................................................................ 14

2015 Outlook for the Latin America Region .................................................................................................................... 15

Other Trends ......................................................................................................................................................... 15

Meetings ..................................................................................................................................................................................... 15

Mobile/Social Media ................................................................................................................................................................ 16

Transportation Security Administration (TSA) PreCheck ............................................................................................... 16



Appendix ................................................................................................................................................................ 18

Domestic Air Trip Days Trending ......................................................................................................................................... 18

International Air Trip Days Trending ................................................................................................................................... 19

Domestic Average Ticket Price (ATP) Based on Advanced Purchase ........................................................................ 20

Domestic Total Trip Cost ........................................................................................................................................................ 21

International Total Trip Cost .................................................................................................................................................. 22

Online Booking Adoption Rate ............................................................................................................................................. 23



Overview In a recent survey conducted by Travel Leaders Group, an impressive 86% of respondents who specialize in business travel indicated that 2014 business travel bookings were better than or on par with 2013. As we look forward to 2015, data indicates the number of people traveling for business will continue to increase as global growth continues to strengthen. Despite political unrest and health concerns; airline passenger traffic, hotel stays, and rental car reservations are all slated to increase in 2015. This growth will result in higher prices, new technology, and an increased need to plan and adapt travel programs to the ever-changing business environment.

2015 and Beyond: Trends to Watch Global and regional trends can have a major impact on the way businesses operate, manage their resources and, of course, travel. By examining some of the major socioeconomic trends we expect to see in 2015, we can forecast how this will impact the ways in which people travel and the influence these trends will have on business travel and suppliers in 2015.

Airline Consolidations Consolidation in the airline industry is nothing new – American and US Air, Southwest and AirTran, and United and Continental – just to name a few over the last several years. While these mergers have led to reduced competition and increasing airfares in some markets; the mergers have also led to the emergence of more financially sound airlines. Impact on Business Travel: In the short term, these mergers can work to benefit corporations as the “Big Three” (American, Delta, and United) grapple to maintain their preferred supplier status within corporate travel programs. However, as many corporations continue to focus on cost saving, decisions may ensue to reduce the number of preferred airline suppliers. In addition, with passenger load factors at high levels the airlines are less likely to introduce discounted pricing as they have in past years.

Corporate Hotel Rates and Demand A recent study from New York University estimates average corporate hotel rates will increase between 5.5-6.5% compared to a 4.5% increase in 2014. Hotels are viewing 2015 as an opportunity to catch up for missed revenue resulting from the recession and the economic slowdown over the past few years. Hotel demand in the U.S. continues to strengthen and markets like Chicago, New York, and San Francisco will show the largest rate increases. Along with the expected rate increases,



Duty of Care Duty of Loyalty

the U.S. lodging industry expects occupancy levels to increase to 64.6% in 2015, which is the highest percentage increase since pre-recession 2006. Impact on Business Travel: For travel managers, the steady demand and high occupancy rates will result in a more difficult year of hotel negotiations. In order to keep large rate increases at bay, many travel managers may choose to relax last room availability (LRA) requirements and move from upscale and full service hotels to select service hotels which often include breakfast and Internet in the room rates.

Duty of Loyalty Most travel managers have heard of and understand ’duty of care’ as it relates to an employer’s obligation to make ”reasonable best efforts” to keep travelers safe while traveling for business. However, there is another side of the coin which is the responsibility of the employee to uphold the”duty of care” policy of their employer. This concept, which is termed “duty of loyalty,” applies to an employee or contractors’ responsibilities in concert with the employer’s best efforts to keep themselves safe and to act in the best interest of the employer. An employer can provide sound programs and precautions to attempt to avert a crisis, but if a traveler is unaware or ignores the programs and procedures, they are likely failing in their “duty of loyalty” responsibilities which contribute to their own safety. Impact on Business Travel: Together, duty of care and duty of loyalty lend themselves to a culture where both employers and employees are focused on the health, safety, security, and well-being of their travelers. The organization fulfils the duty of care policies by developing and deploying appropriate travel risk management procedures to protect employees from possible harm. At times these responsibilities may be vague and subject to interpretation, so it is crucial for employers to specifically define the traveler’s duty of loyalty and perhaps require written acknowledgement that documents the traveler’s agreement to adhere to these policies. Looking to 2015, many organizations will begin developing the two fold policy to ensure the utmost safety and security of their employees.

64.6% occupancy rate expected for

2015

Six consecutive years of

occupancy increases

Five consecutive years of average daily rate (ADR)

growth



Flight Delays and Cancellations

Delays and cancellations continue to be a major concern for business travelers. For the first eight months of 2014, the FAA recorded on-time performance for all carriers at 74.8%. This reflects a 3.4% decline for the same time period in 2013. The largest year over year decline in on-time performance by domestic carriers was led by Southwest. The most common reasons for poor on-time performance are air carrier delays, weather, late arriving aircraft, security, and national aviation systems.

Impact on Business Travel: Flight delays and cancellations can impact many organizations resulting in diminished employee productivity and potential lost business. In addition, these delays and cancellations can spike an organization’s travel budget due to additional unexpected expenses related to extra hotel nights, meals, and the like.

Global Uncertainty Unfortunately we live in a world where political unrest, terrorism, security threats, and health concerns are quite prevalent. With tensions on the Russia-Ukraine border, organized criminal groups in Mexico, conflicts in the Gaza Strip, the Syrian Civil War, ISIS, and the outbreak of Ebola; keeping abreast of world affairs will remain crucial in 2015. McKinsey & Co. recently completed a survey of business executives which showed that 80% of respondents believe geopolitical instability in the Middle East and North Africa is either very likely or extremely likely to upset the global economy in the next year. Impact on Business Travel: As organizations continue to expand their global presence and because unpredictable global events are a harsh reality; employers must make every effort to protect their employees. By monitoring current events in countries where employees travel and having an updated duty of care policy in place, organizations can ensure travel to certain areas of the world is not only good for the business, but also safe for the employee.



Ranks of Millennial Business Travelers Growing By 2020, it is expected that approximately 50% of the U.S. workforce will be under the age of 32 and will make up half of all business travelers. This age group, born between 1980 and 2000, commonly referred to as “Millennials” are young, diverse, tech-savvy, and constantly connected to their smartphones. According to recent studies, this demographic group is expected to travel more, spend more, and continue to increase their use of technology. Impact on Business Travel: Related to airline travel, millennials tend to book flights with less advance purchase and will pay extra for conveniences such as snacks and Internet access. Major hotel chains are competing for the millennials by enhancing their properties with new features and services such as wired lobbies, co-working spaces, and grab ‘n go dining options.

2015 Outlook for North America With the U.S. and Canada currently performing among the best of the advanced economies, business travel volume and costs are expected to rise in 2015. Travel managers will need to closely monitor corporate agreements, set clear market share expectations with suppliers, enforce travel policy parameters, and continuously analyze spend to maintain travel and expense budgets.

Airline With the expected growth of business travel in 2015 coupled with little new capacity and network consolidation, North America air prices are expected to increase by nearly 3%. Along with the expected pricing increases, the portion of revenue airlines capture from ancillary fees (i.e. seat upgrades, in-flight services, baggage fees, etc.) will continue to grow. A recent Travel Leaders Group survey also revealed an increase of nearly 11% of business travelers buying either first or business class seats. Travel managers will need to take a strategic approach in negotiating successful supplier contracts, determine which ancillary fees comply with their travel program, and review travel program compliance to ensure success in the new year.



Travel Leaders Data: Airline Travel Leaders Group data shows steady increases in domestic average ticket prices (ATP) over the past few years and this trend is expected to continue into 2015.

$393 $411

$400 $395

$424 $444

$412 $405 $417

$443 $443 $430 $432

$468 $453

1Q11

2Q11

3Q11

4Q11

1Q12

2Q12

3Q12

4Q12

1Q13

2Q13

3Q13

4Q13

1Q14

2Q14

3Q14

Airline ATP


$393

$424 $417

$432

1Q11 1Q12 1Q13 1Q14

1st Quarter Airline ATP

$411

$444 $443

$468

2Q11 2Q12 2Q13 2Q14

2nd Quarter Airline ATP

$400 $412

$443 $453

3Q11 3Q12 3Q13 3Q14

3rd Quarter Airline ATP

$395 $405

$430

4Q11 4Q12 4Q13

4th Quarter Airline ATP


Airline Market Share Airline fees, service, and ticket prices are all part of the entire airline marketplace. The top carriers (Delta, Southwest, United, and American) for domestic market share are the same as this time last year. However, Southwest increased market share from 15.4% in 2013 to 16.3% in 2014; taking over the second place spot from United. As future airline mergers continue, expect to see the top carriers gain additional market share.

Hotel North America hotel construction has been more limited than in other regions of the world, but where growth is occurring it is focused in the mid-scale hotel arena. Therefore, with the increasing room demand in the business travel sector but slower supply growth, the result is continued hotel price increases in North America for 2015 of slightly greater than 3%. In key business markets like Chicago, New York, and San Francisco, the rate increases are expected to be closer to 6%. Travel managers will need to negotiate harder than in previous years for their corporate rates and may secure better rates from select service properties which include breakfast and Internet instead of upscale and full service hotels.

Travel Leaders Data: Hotel According to our Travel Leaders Group data, hotel average nightly rates (ANR) in 2014 show a slight increase quarter over quarter. With several factors influencing 2015 prices – limited hotel growth and increased demand – hoteliers are viewing next year as an opportunity to get back to business after a soft couple of years.

$135 $140 $140 $139 $138

$141 $140 $140 $140 $144 $144 $143

$147 $150 $150

1Q11

2Q11

3Q11

4Q11

1Q12

2Q12

3Q12

4Q12

1Q13

2Q13

3Q13

4Q13

1Q14

2Q14

3Q14

Hotel ANR

Source: Research and Innovation Technology Administration: Bureau of Transportation Statistics


4.20%

5.10%

8.40%

12.60%

14.60%

15.40%

16.30%

16.60%

Alaska

Jet Blue

US Airways

American

Other

United

Southwest

Delta

Percentage of Domestic Marketshare


Chicago, IL $163

San Francisco, CA $196

W. Palm Beach, FL $114

Miami, FL $147

Boston, MA $195

Atlanta, GA $138

Dallas, TX $142 Los Angeles, CA $176

New York, NY $259

Washington, D.C. $206

Top 10 Hotel Markets (Values listed are the average nightly rate)


$140 $141 $144

$150

2Q11 2Q12 2Q13 2Q14

2nd Quarter Hotel ANR

$140 $140 $144

$150

3Q11 3Q12 3Q13 3Q14

3rd Quarter Hotel ANR

$135 $138

$140

$147

1Q11 1Q12 1Q13 1Q14

1st Quarter Hotel ANR

$139 $140

$143

4Q11 4Q12 4Q13

4th Quarter Hotel ANR


Ground Transportation Rental Car

In North America the rental car industry continues to be led by three major companies – Avis Budget Group which operates as Avis and Budget brands, Enterprise Holdings which operates Enterprise, National, and Alamo brands, and Hertz Global Holdings which operates as Dollar, Hertz, and Thrifty. As business travel continues to grow, the competition between these primary rental car suppliers

remains quite competitive. This is good news for the travel industry, as only a modest increase of 1% is expected for rental car rates in 2015. Travel managers can capitalize on this competition by extending current contracts or moving to longer term contracts. Travel Leaders Data: Rental Cars Travel Leaders Group data shows a slight increase in 2014 rental car rates when compared to 2013. The negligible rental car rate increases in 2015 will be welcomed in North America by travel managers given the expected higher rates for airline tickets and hotel accommodations.

$45 $45 $46 $45 $43 $43 $44 $43 $42 $42 $42 $41 $42 $43 $43

1Q11

2Q11

3Q11

4Q11

1Q12

2Q12

3Q12

4Q12

1Q13

2Q13

3Q13

4Q13

1Q14

2Q14

3Q14

Rental Car ADR

$46 $44

$42 $43

3Q11 3Q12 3Q13 3Q14

3rd Quarter Rental Car ANR


$45 $43 $42 $42

1Q11 1Q12 1Q13 1Q14

1st Quarter Rental Car ANR $45

$43 $42 $43

2Q11 2Q12 2Q13 2Q14

2nd Quarter Rental Car ANR

$45 $43 $41

4Q11 4Q12 4Q13

4th Quarter Rental Car ANR


Rail Travel Amtrak’s recent fiscal year 2014 statistics show not only an increase in ridership, but also an increase in ticket revenues. The Northeast corridor (NEC) achieved its highest ridership ever of 11.6 million, which is up 3.3% from the previous year. Eight other routes also set ridership records including the Capitol Limited (Chicago to Washington, D.C.), Empire Service (between New York City and Buffalo), and the Piedmont (between New York and Charlotte) to name just a few. With the

increases in ridership and performance, Amtrak executives are leveraging these successes in hopes of much needed investments in infrastructure.

2015 Global Outlook The United States continues to lead in global business travel spend while China continues to garner attention for their rapidly expanding spend which is up from $196 billion or 14.8% from last year. Several other notable changes include: Japan, though still number three, dropped in spend from

$65 billion last year to only $61 billion this year Brazil and Italy exchanged places as Brazil increased spend

by $1 billion over last year while Italy decreased spend by $3 billion when compared to last year

India shows continued growth of over $2 billion in spend or 9.1%

Airline With increasing demand, high passenger load factors, and strong revenue; airlines globally are expected to introduce moderate price increases near 2%.

Top 10 Business Travel Markets (in Billions)

1. United States $274 2. China $225 3. Japan $61 4. Germany $54 5. United Kingdom $41 6. France $35 7. Brazil $31 8. South Korea $31 9. Italy $30 10. India $24 Source: GBTA

$1,636 $1,591

$1,710 $1,712 $1,757

$1,714

$1,622 $1,614

$1,698

$1,624 $1,652 $1,666

$1,605

$1,744

$1,667

$1,500

$1,600

$1,700

$1,800

1Q11

2Q11

3Q11

4Q11

1Q12

2Q12

3Q12

4Q12

1Q13

2Q13

3Q13

4Q13

1Q14

2Q14

3Q14

International Airline ATP



Hotel In all regions of the world, hotels are experiencing strong demand and only moderate growth in new hotel properties. These factors will result in increased average nightly rates slightly over 2% globally with the largest growth expected in Brazil, China, and India.

Ground Transportation The rental car industry is faced with similar consolidation as the airline industry and the competition remains very strong. With that said, global rental car prices are expected to remain relatively flat through 2015.

$215

$223 $228

$213

$228

$216 $214

$226 $221

$214

$207

$214

$234

$209 $209

$190

$200

$210

$220

$230

$240

1Q11

2Q11

3Q11

4Q11

1Q12

2Q12

3Q12

4Q12

1Q13

2Q13

3Q13

4Q13

1Q14

2Q14

3Q14

International Hotel ANR

$59

$69 $75

$55 $53 $52 $56

$49 $52 $50 $53

$70

$51 $50 $56

$- $10 $20 $30 $40 $50 $60 $70 $80

1Q11

2Q11

3Q11

4Q11

1Q12

2Q12

3Q12

4Q12

1Q13

2Q13

3Q13

4Q13

1Q14

2Q14

3Q14

International Rental Car ADR



2015 Outlook for the Asia Pacific Region

2015 Outlook for Europe, Middle East, and Africa

Relatively flat Due to the increasing share of low cost carriers, legacy carriers have been

forced to keep fares low to remain competitive.

Increase of nearly 2% The hotel industry continues to experience increasing demand while at

the same time an influx of new properties are under construction.

Modest increase of 1% Growth led by Australia and New Zealand.

China's rail network is growing with more high-speed networks expected by 2020. India also plans to begin development of high-speed lines.

Modest increase of 1% Due to growth of LLCs in both Europe and Africa, strong competition

between Middle East carriers, consolidations, and joint ventures.

Increase of nearly 2% The countries leading the expected price increase are Finland, South

Africa, Sweden, and the United Kingdom.

Relatively Flat Within the region there is less dependence on rental cars. Growth is

expected in Czech Republic, Hungary, and Portugal.

The Shift2Rail intiative in Europe is gaining strength and the expectation is for better integration and improved services. Rail is growing in Middle East

especially in Oman, Qatar, Saudi Arabia and the UAE.



2015 Outlook for the Latin America Region

Other Trends Meetings

As business travel continues to grow and economic conditions improve, demand for meetings is also growing globally. Meeting rates within APAC and NORAM are expected to be moderate while EMEA is expected to remain flat and Latin America is expected to experience the largest growth. Meeting planners will continue to be tasked with maintaining shrinking budgets, securing meetings at mid-scale properties, and negotiating additional inclusions all while having less lead time.

Within the U.S., the top meeting and convention destinations have changed slightly since a year ago. Orlando continues to hold the top spot while Washington has moved up from number 7 to number 2. With New York falling off the list, most likely due to higher costs and hotel availability issues, New Orleans

Top Meeting and Convention Destinations 1. Orlando, FL 6. San Diego, CA 2. Washington, D.C. 7. Phoenix, AZ 3. Las Vegas, NV 8. Atlanta, GA 4. Miami, FL 9. Dallas, TX 5. Chicago, IL 10. New Orleans, LA

--CVENT Supplier Network

Increase of nearly 3% Due to increasing demand while airlines clamber to add more routes and

additional aircraft.

Increase of nearly 6% The hotel inductry continues to experience strong demand coupled

with limited inventory and slow construction of new properties.

Modest increase of 1% Brazil and Argentina are expected to see price increases while other

countries remain relatively flat.

Contruction is expected to begin December 2015 on the first high-speed railway in Latin America which will connect Mexico City and Queretaro. Proposed high-speed rail projects in Argentina and Brazil have stalled.



has made a debut at number 10. Globally several countries have emerged as top meeting destinations: Cambodia, Indonesia, Ireland, Portugal, Thailand, United Kingdom, and Vietnam.

Mobile Bookings/Travel Apps Mobile continues to be the fastest growing trend not just in business travel, but in the industry in general. In the first half of 2014, mobile travel bookings increased by 20%

while desktop bookings grew only a mere 2%. Mobile bookings vary by country and are led by Japan, Australia, and the United States. In the U.S. alone in 2015, travelers are expected to book over $39 billion worth of reservations on a mobile device which is nearly 12% of all travel sales.

As you can see from the chart to the right, mobile bookings are up considerably across all travel categories from 2012. Not only are mobile bookings up, but the cost of the trips being booked via mobile devices is also up. The average airfare booking was 21% higher on mobile devices than on desktop computers and rental cars were 13% higher. This phenomenon is believed to be the effect of last-minute bookings which may become a concern for travel managers. Cutting edge and adapted are two words that could be used to describe the current activity in the business traveler’s app market. Airlines, airports, and hotels are continuously developing applications to network with travelers, while third party apps are allowing travel management companies and employers to tailor details of a trip, engage employees, and gain data upon their return. By 2015, it is estimated that nearly 90% of airlines and airports will provide flight status and tracking applications for mobile devices.

Transportation Security Administration (TSA) PreCheck When TSA PreCheck made its debut in 2011, the goal was to revolutionize the security process with expedited screening and allow travelers to leave shoes, jackets and belts on and keep laptops and liquids packed in carry-on bags. The program was initially considered successful; however, more recently TSA has experienced several issues that are of concern with the program.

7%

5%

5%

12%

8%

6%

21%

12%

17%

0% 10% 20% 30%

Hotel

CarRental

Airline 2014

2013

2012

Source: Business Travel News/PhoCusWright

Percentage of Travel Booked via Mobile Device



Shortly after the start of the program, when select individuals were invited to opt-in through an airline’s frequent flier program or were in a trusted traveler program (Global Entry, SENTRI or NEXUS), the TSA opened the program to the rest of the traveling public. With an influx of individuals who did not travel as often, the PreCheck lines became more time consuming. The wait time grew as individuals did

not know exactly how PreCheck worked and would still take everything out of their bags. Unfortunately, long lines and extended time to get through PreCheck resulted in fewer people wanting to apply for the program and pay the fee. Moving into 2015, TSA’s budget was decreased by $300.3 million below the fiscal year 2014 enacted level. The TSA PreCheck program is now more focused than ever to enroll new customers willing to pay the $85 to be part of the program. TSA hired private contractors to launch a massive enrollment campaign and plans to use them to recruit and screen millions of people into trusted traveler status. Currently only 598,184 people are enrolled in PreCheck and more than 1.3 million more have PreCheck clearance. TSA is hoping millions more will enroll to ensure PreCheck lines are fully used.



Appendix Domestic Air Trip Days Trending 2013 – 2014 YTD

3.06

3.01 3.01

2.95

2.98

2.88

3.00

2.75

2.8

2.85

2.9

2.95

3

3.05

3.1

1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14



International Air Trip Days Trending 2013 – 2014 YTD

7.40 7.31

6.20 6.27

6.98 7.20

6.20

2

3

4

5

6

7

8

9

10

1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14



Domestic Average Ticket Price (ATP) Based on Advanced Purchase 2013 – 2014 YTD

$529.00 $543.59 $548.00

$530.00 $535.06

$573.29 $558.90

$421.67

$447.75 $448.33

$426.67 $428.22

$472.60

$447.77

$404.50

$430.06 $423.50

$403.00 $403.52

$445.84

$416.26

$350

$375

$400

$425

$450

$475

$500

$525

$550

$575

$600

1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14

0-6 Days 7+ 14+



Domestic Total Trip Cost 2013 – 2014 YTD

$-

$200

$400

$600

$800

$1,000

$1,200

1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14

Aver

age

Trip

Com

pone

nt C

ost

HOTEL COST CAR COST AIR ATP



International Total Trip Cost 2013 – 2014 YTD

$-

$500

$1,000

$1,500

$2,000

$2,500

$3,000

1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14

Aver

age

Trip

Com

pone

nt C

ost

HOTEL COST CAR COST AIR ATP



Online Booking Adoption Rate 2013 – 2014 YTD

0%

10%

20%

30%

40%

50%

60%

70%

1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14

Full Service Total Online


Documents

Business Travel Insight 2015 - Leisure Travel | …tvlleaders.com/wp-content/uploads/2014/01/316902.pdfNovember 2015 Full 2016 Business Travel Insight ©2014, Travel Leaders Franchise