For Immediate Release - Ovation Travel Group has published its Quarterly Business Travel, Financial Services Firm Travel and Law Firm Travel Indexes along with two new quarterly benchmark group Indexes. Beginning with its latest release, Ovation now provides a quarterly Technology Industry Business Travel Index and a quarterly Biotech & Healthcare Industry Business Travel Index.
All of the Indexes contain three years of data findings, listed quarterly. 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 2018 Business Travel Indexes.
Ovation utilizes this high-level analysis to identify trends and to benchmark individual client activity against carefully selected benchmark groups, representing over $400 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.
“These benchmarking industries have unique travel habits and as our client base in the technology and biotech/healthcare industries has grown, we realized the time had come to create individual Indexes for these groups,” noted Executive Vice President, Michael Steiner, about the launch of the two new Indexes. “For example, tech industry travelers tend to travel internationally more than the other Index industry groups, but they also spend less, on average, on their international air fare. At the same time there are similarities; for example, across all five of our Business Travel Indexes, we saw business travelers booking more Business Class in Q4 2018, while the percentage of both First Class and Economy Class bookings went down.”
Ovation Travel Group is an independently owned, $1.3 billion travel management company with experienced travel consultants in more than 30 locations throughout the United States and United Kingdom. Ovation serves over 700 clients from industries including advertising, architecture, biotechnology, consulting firms, entertainment, financial services, healthcare, law, media, not for profit, technology and more. Ovation’s law firm-focused company, Lawyers Travel, serves over 200 law firm clients. Data for these indexes was culled from a cross-industry-sample of clients within each of these areas.
To download Ovation's Q4 2018 Business Travel Indexes click here.