North American Business Travellers Predict Increased Hotel Spending25 Oct 2013
New research by Tourism IC indicates that nearly half of North American business travellers expect to spend more on hotels in the coming year.
In total, 45% of Tourism IC's North American survey respondents from companies across various industries are projected to spend more on hotel accommodation in 2013-2014 than in 2012, while 46% expect similar spending.
Respondents who expect an increase in expenditure on hotel accommodation in 2013-2014 indicated that increased business activity, expansion plans, and significant increases in average hotel prices are the key contributing factors influencing their opinions.
As economic growth begins to resume after the global recession, travel, which has become an integral part of trade and commerce, is anticipated to record an increasing trend in 2013-2014. To capitalise on the trend, hoteliers are renovating hotels to increase room occupancy and revenues.
However, 46% of North American respondents anticipate no change in business travel expenditure in 2013-2014. Reasons include changes in business strategies, strict travel policies, and cost containment.
The Tourism IC report; 'North American Business Traveler Survey 2013' was published on 9th September, 2013.