In a recent analysis of corporate hotel data, TRIPBAM predicts that market rates will hit 2019 levels, if they stay on their current trajectory, before the end of this year.
This and other findings are detailed in the second installment of TRIPBAM's new Quarterly Market Report series, which analyzes new corporate hotel data and market trends in each edition. Other trends TRIPBAM has identified include:
- Corporate travelers continue to book publicly available rates more often than static negotiated/flat rates (47% versus 26%)
- Globally, length of stay and cancellations are back to 2019 levels
- Rate volatility has declined slightly between Q1 and Q2 - down from 18% to 16%
Explanation behind why these market shifts are occurring is detailed in the report, Q2 2021: The Steady Climb Toward Post-Pandemic Recovery.