Corporate Travel Analysis Reports

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.

Radisson Hotel Group continues its ambitious growth and development plan in India with the signing of 11 new hotels across brands between January and April 2023.

Located in key gateway cities and emerging destinations, these new hotels are present across Hyderabad, Bengaluru, Ujjain, Raipur, Sonamarg, Manali, Kerala, and Visakhapatnam.

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.

Marriott International has revealed plans to further expand in the affordable midscale lodging segment, following its recent entry into the segment with City Express by Marriott in Latin America.

The hospitality group has confirmed plans to launch a new brand, which has not yet been named, but is currently being referred to as Project MidX Studios. The affordable midscale extended stay brand is intended to deliver reasonably priced modern comfort for guests seeking longer stay accommodations in the US and Canada.

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.

American Express Global Business Travel (Amex GBT), the world's largest corporate travel management company, published its 2022 Environmental, Social and Governance (ESG) report on 22-May-2023.

It outlines the company's actions, commitments, objectives and strategies to ensure the economic and social benefits of travel are achieved in a way that the company considers environmentally responsible.

The report suggests major repercussions for global aviation and business travel.