Air and hotel prices will increase for business travelers next year, as increased demand in the Americas will more than offset flattening prices in other regions, Carlson Wagonlit Travel (CWT) wrote in its 2015 Global Travel Price Outlook.
CWT, which collaborated with the Global Business Travel Association on the study, forecasted air prices to rise 2.2% in 2015 after being little changed this year.Air prices in Latin America and North America will increase 3.5% and 2.5.% next year, respectfully, spurred by increased load factors and rising ancillary revenue.Flat pricing is predicted for Asia Pacific, Europe and the Middle East.
Meanwhile, hotel prices are expected to rise 2.6% in 2015. With Venezuela, Argentina and Brazil all forecasted to have rate increases of at least 11% next year, Latin America will be the driver of higher revenue.
U.S. hotel prices will rise 4.5% in 2015, forecasted CWT, while most of Western Europe will be in the 2% range. China’s room rates will be little changed because of increased supply, CWT said.
Courtesy: Travel Weekly