Published on Thursday, January 5, 2017
Business travel buyers are planning to cut costs this year by reducing spend on luxury hotels and transfers.
The latest survey by the Business Travel Show found that although 32% of business travel buyers will have more money to spend in 2017, 41% intend to spend less on five-star hotels.
They intend to use mid-range and budget hotels, serviced apartments and Airbnb and other home-stay companies instead.
Of the 178 buyers who took part in the survey, 87% said they intended to use more mid-range hotels, 60% said they would use more budget hotels and 17% said they would use more Airbnb.
They are also looking for more affordable transfer options, swapping from chauffeur-driven limos to taxis, Uber, car rental, car pool services and train travel.
In fact, 84% said they planned to use more trains next year, while 61% said they favoured greater use of taxis, 56% will spend more with Uber and 52% on car rental.
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The recent insolvency of Low Cost Travel Group, one of the large players in the travel industry had a big impact on the travelers, hotels and all related players from both wholesale & retail arms. There were about 27,000 people on a holiday who had booked through the company comprised of a €200 million wholesale arm and €500 million OTA / retail arm.