The average international price paid, domestic price paid and the cumulative haven’t been this low since 2010.
New York, NY (PRWEB) May 12, 2016
Ovation Corporate Travel, the 5th largest travel management agency in the U.S. by volume, according to Business Travel News, has published its Quarterly Business Travel, Financial Services Firm Travel, and Law Firm Travel Indexes.
The Indexes can be downloaded at http://www.ovationtravel.com/lp-q12016-business-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
Ovation utilizes this highlevel analysis to identify trends and to benchmark individual client activity against a ‘yardstick’ representing over $210 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 vendor negotiations.
“The results of the Q1 2016 reveal the some of the lowest average prices paid in recent history, with average airfares representing the lowest average prices paid by category going back six years,” noted Executive Vice President, Michael Steiner. “The average international price paid, domestic price paid and the cumulative haven’t been this low since 2010. At the same time, the percentage of business travelers booking First/Business Class airfare has increased. This indicates that as airlines lower ticket prices, some organizations are choosing to book a superior class of service while still benefitting from net overall reduced costs. It will be interesting to see if this trend continues throughout 2016.”
Ovation services over 700 clients, including over 225 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.
For more information on Ovation Corporate Travel's services and to download the Business Travel Indexes, visit http://www.ovationtravel.com/lp-q12016-business-travel-indexes.
About Ovation Corporate Travel
Ovation Corporate Travel is a $1 billion travel management company in conjunction with Lawyers Travel and Ovation Vacations. Ovation Corporate Travel manages travel services for prominent finance, entertainment, retail, consulting and professional service firms. Our mission is to provide outstanding service, cost savings and comprehensive travel solutions to professional travel managers, administrators and business travelers. We are the 5th largest TMC by sales volume in the country according to Business Travel News, receiving accolades from more than 700 discerning clients. Ovation operates in over 50 offices nationwide and globally in more than 110 countries. For more information, please visit http://www.ovationtravel.com.