Odyssey Business Travel Reports on Ovation's 2nd Quarter Travel Indexes
Ovation Travel Group has released its quarterly Business Travel Indexes through the second quarter of 2011. The Financial Services Firm Business Travel Index, Law Firm Business Travel Index, and Corporate Business Travel Index are updated quarterly.
The Indexes compare the preceding twelve quarters' (i.e., 3 years) travel patterns for each group. Data includes:
- Average airfare price paid by quarter
- Average hotel rate paid by quarter
- Breakdown of the percentage first, business, and economy class tickets by quarter
- Breakdown of the percentage domestic vs. international tickets by quarter
"Clearly no one has a crystal ball what the second half of 2011 has in store, but this most recent quarter, more than any since the recession began, showed indications of a real corporate travel recovery across every industry," commented Ovation's Executive Vice President, Michael Steiner. "International travel was up. In addition, the percentage of economy class travel versus first and business class shrunk notably for law firms, financial services firms, and corporate clients as a whole. People were flying more, they were flying premium class, and they were flying overseas more than they have in years."
To view the indexes online, go to:
The Corporate Business Travel Index data is culled from a cross-industry-sample of clients, representing over $100,000,000 in annual air spend. The Financial Services Firm Business Travel Index data is culled from a cross-sample of financial services industry clients, representing over $50,000,000 in annual air spend. The Law Firm Business Travel Index data is culled from a cross-sample of Lawyers Travel's (a division of the Ovation Travel Group) law firm clients, representing over $70,000,000 in annual air spend.
Ovation Travel Group
Ovation Travel Group is a $600 million corporate travel management company providing comprehensive travel solutions to over 700 leading professional services firms and corporations, representing over 200,000 travelers. Ovation's travel management solutions include corporate travel spend analysis and travel policy development; customized reporting; vendor negotiations; air, hotel, train and car reservations; risk management; online bookings; leisure travel; and meeting and special events planning. Founded in 1984 and headquartered in New York, Ovation is among the top 6 travel management companies in the US by sales volume. Ovation Travel Group includes Ovation Corporate Travel, Lawyers Travel, and Ovation Vacations. Ovation is a shareholder in the global travel company RADIUS and operates in over 80 countries.
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