Corporate Travel Analysis Reports For South Pacific

The amount of time spent creating expense reports is the biggest pain point in the expense process for business travelers, according to a recent BCD Travel survey.

The survey of 1,349 business travellers worldwide about payment and expense in business travel looked at payment methods travellers use while traveling, pain points they experience, and tools at their disposal to make their life easier.

Each week, CAPA - Centre for Aviation produces informative, thought provoking and detailed market analysis of the aviation industry. With supporting data included in every analysis, CAPA provides unrivalled and unparalleled intelligence.

Here's some of the reports published over the past week.

CTC - Corporate Travel Community each week brings you a roundup of the most thought-provoking and interesting comments from those industry leaders in the know.

While airport charges have remained steady since the pandemic, airfares have soared above pre-pandemic levels as major airlines reap record profits hampering the aviation industry recovery, according to ACI Asia-Pacific's study on airfare trends in the region.

Its research shows international airfares up by up to 50%, with domestic routes up by less than 10%. The markets that saw the highest airfare increase are identified as India (41%), United Arab Emirates (34%), Singapore (30%) and Australia (23%).

Hyatt Hotels Corporation has completed the acquisition of London-based Mr & Mrs Smith, a global travel platform that provides direct booking access to a carefully curated collection of more than 1,500 boutique and luxury properties.

The hospitality group says that this addition to the portfolio means guests "will soon have even more rewarding stays and experiences to choose from", including more than 20 new countries for Hyatt such as Fiji, Croatia, Iceland and Anguilla.

Hyatt acquired 100% of the asset-light Mr & Mrs Smith platform for an enterprise value of GBP53.0 million in cash consideration. The purchase price represents an attractive acquisition multiple in the high-single digits on projected stabilised earnings.

The post COVID-19 travel environment has been headed by the return of leisure demand with the recovery of premium business travel following some way behind.

There still remains concerns in some parts that corporate travel will not reach the levels seen before the pandemic as working and meeting practices are indelibly altered by the health crisis.

However, new research from data and insights specialist ForwardKeys based on up-to-date flight ticketing data reveals that the recovery in global business travel is now set to overtake leisure.

CTC - Corporate Travel Community is excited to announce the return of the re-branded, free CTC Insights Newsletter.

Re-launched in a weekly e-newsletter format, CTC Insights offers up to date news, market specific content and exclusive data. Pulling contributions from industry experts and strategic thinkers, the publication offers informed opinions on key industry topics, access to insider thinking on news and deep analysis of market trends.

Each week, CAPA - Centre for Aviation produces informative, thought provoking and detailed market analysis of the aviation industry. With supporting data included in every analysis, CAPA provides unrivalled and unparalleled intelligence.

Here's some of the reports published over the past week.

CTC - Corporate Travel Community each week brings you a roundup of the most thought-provoking and interesting comments from those industry leaders in the know.

The International Air Transport Association (IATA) has announced an expected strengthening of airline industry profitability in an upgrade of its outlook for 2023. Airline industry net profits are expected to reach USD9.8 billion in 2023 (1.2% net profit margin) which is more than double the previous forecast of USD4.7 billion from Dec-2022.

Stronger profitability is supported by several positive developments, including China lifting COVID-19 restrictions earlier in the year than anticipated; cargo revenues remaining above pre-pandemic levels even though volumes have not; and on cost side, jet fuel prices, although still high, have moderated over the first half of the year.

Total revenues are expected to grow 9.7% year over year to USD803 billion. This is the first time that industry revenues will top the USD800 billion mark since 2019 (USD838 billion). Expense growth is expected to be contained to an 8.1% annual increase.

Around 4.35 billion people are expected to travel in 2023, which is closing in on the 4.54 billion who flew in 2019.