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Rates Rising According to Amex Business Travel MonitorMarch 19, 2007 By: David Eisen Travel Agent
Business travel rates are mimicking those of leisure as pricing for air, hotel and car rental continues to rise, according to data from American Express' Business Travel Monitor released on Monday. "Rates are going up," Mike Streit, vice president and global leader of Amex's Advisory Services, succinctly said. Domestic airfares increased 7.2 percent in 2006, international 5.8 percent. The $231 average ticket price was tempered somewhat by a fourth-quarter dip to $216. Both domestic and international hotel rates are also on the incline, with domestic up three percent over last year and international 8.5 percent. Strikingly, the budget sector is leading the way with 2006 Q4 rates almost $30 higher than last year's fourth quarter. Car rental rates are also ascending, up 6 percent, and spurred by rising fleet costs and interest rate increases.