This all goes to illustrate the importance for organizations who are looking to benchmark their travel policies and spend to make sure they are comparing themselves to like-organizations of similar industry, travel culture and program scope.
NEW YORK (PRWEB) February 03, 2020
Ovation Travel Group has published its Quarterly Business Travel, Financial Services Firm Travel, Law Firm Travel, Technology Industry Travel and Biotech/Healthcare Industry Travel Indexes.
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 Domestic and International tickets
- Percentage breakdown of Domestic and International hotel room nights
Click here to download Ovation's Q4 2019 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 $1.4 billion 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.
“We benchmark these industries individually as they consistently demonstrate their unique travel habits,” noted Executive Vice President, Michael Steiner, about the quarterly Indexes. “For example, a larger percentage of tech industry travel is international compared to the other Index industry groups, but they also spend less, on average, on those international air fares and hotel rates. Compare that to law firm travelers, where a smaller percentage of the travel is international compared to the other Index industry groups, but they also spend more, on average, on their international air fares and hotel rates. This all goes to illustrate the importance for organizations who are looking to benchmark their travel policies and spend to make sure they are comparing themselves to like-organizations of similar industry, travel culture and program scope.”
Ovation Travel Group is an independently owned, $1.4 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 all corporate client booking data as well as a cross-industry-sample of clients within each of the individual industry areas.
To download Ovation's Q4 2019 Business Travel Indexes click here.