For Immediate Release - February 28, 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 Q4 2017 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.
“Across the board, regardless of industry, we saw the average air fare prices paid increase both for domestic bookings and to an even larger degree for international bookings,” noted Executive Vice President, Michael Steiner about the Q4 2017 Business Travel Indexes. “Across all three Indexes, the percentage of international vs. domestic bookings also increased, albeit nominally, as did the percent of First Class bookings. On the hotel side, the average hotel room rates paid both domestically and internationally ticked up as well. That said, traditionally, Q1 room rates tend to dip down again and it will be interesting to see if that will be the case for Q1 2018."
Ovation serves 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 Q4 2017 Business Travel Indexes click here.