October 9, 2009
Hotel prices are expected to rise next year.
According to the American Express Global Business Travel Forecast, pent-up trip demand, coupled with supply base changes, are likely to cause rates to increase slightly in most travel categories by the end of 2010.
Business class airfares are expected to increase, in line with reduced capacity and on-going business demand for international travel.
A prolonged period of weak demand in the travel industry depressed prices across travel categories in 2009, most notably in hotels, which, as an industry, can’t reduce capacity as easily as airlines and car rental companies.
Fuel prices, along with sustained signs of a restarting economy, could also generate slight increases in travel-category prices worldwide, particularly in Asia Pacific.
For the full article, visit TravelDailyNews’ site
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