In an analysis of its customers’ aggregate third-quarter data, Travel Leaders Corporate found domestic air travel, hotel and car rental costs are lower from the year-earlier period. More business travellers are booking their flights greater than 21 days in advance, helping to reduce this expense.
“Overall, it is still an excellent pricing environment for business travel,” said Gabe Rizzi, president, Travel Leaders Corporate. “Companies will find it easy to stay within budget for travel around the US. International business travel is more expensive, but we still see robust demand as the economy continues to grow.”
Travel Leaders Corporate’s data shows that in the third quarter of 2019, the total cost of a hotel stay in the US remained flat. Internationally, the total trip cost increased 2,74 percent as the average hotel stay increased slightly from 3,1 to 3,18 nights.
The average total cost for a domestic car rental in third quarter (Q3) dropped 10 percent to USD128 from the same period in 2018. Yet it’s up 16 percent from Q2.
Internationally, car rentals rose to USD264, an eight percent increase from the third quarter a year ago and a 16 percent increase from Q2.
Airline pricing remains stable. During this period, the cost of a domestic airline ticket inched down one percent to USD414, and it fell three percent from Q2. Conversely, the Q3 average international ticket price rose about four percent from the year earlier to USD1,684, although it fell five percent from Q2.