For Immediate Release - Ovation Travel Group 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 Q3 2018 Business Travel Indexes.
Ovation utilizes this high-level analysis to identify trends and to benchmark individual client activity against a ‘yardstick’ representing over $260 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.
“Across all three of our Business Travel Indexes, we saw the average domestic and average international air fare ticket prices paid increase in Q3 2018,” noted Executive Vice President, Michael Steiner, about the Q3 2018 Business Travel Indexes. “In fact, Q3 domestic air fares paid were the highest we’ve seen on these Indexes since 2014. At the same time, business travelers, including financial services firm travelers, law firm travelers and travelers from a broad range of industries, were paying less for domestic hotel room nights in Q3, and on our cross-industry Business Travel Index, which represents clients in industries including advertising, architecture, biotech, consulting firms, entertainment, financial services, health care, law, media, not for profit, technology and more, as well as on our Law Firm Business Travel Index, business travelers were also paying less for international hotel room nights in Q3 as compared to the previous quarter.”
Ovation serves over 700 clients, including over 250 financial services firm clients and over 200 law firms through its law firm-focused company, Lawyers Travel; data for these indexes was culled from a cross-industry-sample of clients within each of these areas.
To download Ovation's Q3 2018 Business Travel Indexes click here.