For Immediate Release - June 27, 2018 - Ovation Corporate Travel has published its Quarterly Business Travel, Financial Services Firm Travel and Law Firm Travel Indexes. The Indexes contain three years of data findings, listed quarterly with accompanying historic analysis dating back to 2009. Each index illustrates the following statistics:
- Average airfare price paid Domestically, Internationally and Overall
- Average hotel rate paid Domestically, Internationally and Overall
- Percentage breakdown of Economy, Business Class and First Class tickets
- Percentage breakdown of Domestic and International tickets
Click here to download Ovation's Q1 2018 Business Travel Indexes.
Ovation utilizes this high-level analysis to identify trends and to benchmark individual client activity against a ‘yardstick’ representing over $230 million in annual air and hotel spend. The data serves as a resource in determining opportunities for strengthening clients’ travel programs in such areas as travel policy adjustment, service enhancements and supplier negotiations.
“On the whole, across all three Indexes, we aren’t seeing any major shifts in terms of domestic vs. international travel patterns or class of service travel patterns,” noted Executive Vice President, Michael Steiner about the Q1 2018 Business Travel Indexes. “But, looking at these quarterly Indexes side-by-side, we do see that financial services firms travel a little bit differently than the general business travel segment, especially in terms of class of service. Not only do financial services firm travelers fly First Class or Business Class more than twice as frequently as the travelers tracked by our cross-industry Business Travel Index and Law Firm Business Travel Index, but as-of Q1 2018, they also spent more on average hotel room rates, as compared to our cross-industry Index.
Ovation services over 700 clients, including over 250 financial services firm clients and over 200 law firms through its law firm-focused subsidiary, Lawyers Travel; data for these indexes was culled from a cross-industry-sample of clients within each of these areas.
To download Ovation's Q1 2018 Business Travel Indexes click here.