Notably, the nascent business travel recovery at Delta Air Lines Inc. and American Airlines is being led by customers at small-to-medium-sized businesses, not the largest corporations. Quite a few of these bigger public companies are pleased with how much money they’ve saved from not sending workers out on airplanes. Factory-floor distributor Fastenal Co. is aiming for a 30% to 40% reduction in air travel over the long haul, thanks to “some of the technology tools we have and some cultural changes as far as working from a distance and communicating from a distance,” Chief Executive Officer Dan Florness said earlier
Second-quarter earnings results for
Hilton Worldwide Holdings
Wyndham Hotels & Resorts
are the latest example of a marked improvement for the lodging industry, although the crucial business travel segment continues to lag.
Both stocks took off on Thursday morning. “We continued to make significant progress toward recovery,” Hilton CEO Christopher Nassetta told analysts.
Wyndham Hotels (ticker: WH) on Wednesday reported second-quarter adjusted diluted earnings of 95 cents a share, up from 10 cents in the corresponding period last year. Net revenues were $406 million, compared with$258 million a year earlier, during the heart of the pandemic.
The company, based
Editor’s note: This is the second in a four-part series looking at the state of tourism in NWA’s four largest cities as they emerge from the pandemic.
An uptick in business-related travel is contributing to an increase in hotel bookings in Springdale, says Bill Rogers, president of the Springdale Chamber of Commerce, to Axios.
Why it matters: Springdale collects a 2% hotel/motel tax to fund its advertising and promotion efforts. The city does not collect a tax on prepared food sales like some of the other cities in NWA.
Business travel is a main driver of the tax collections, such
Of the 2 million people clogging airport security lines and gate areas again each day, one crowd is still largely missing: business travelers.
Their absence is noteworthy because they are a key source of revenue and profit, underpinning a record-breaking stretch of financial gain for U.S. airlines that ended with the coronavirus.
Business travelers tend to pay higher fares, and that is especially true on international flights, which are also still deeply depressed by the pandemic and travel restrictions around the globe. Because their fares subsidize other passengers, their absence is leading to higher leisure fares on many routes, experts
More companies are reporting a willingness and actual return to business travel, with domestic travel taking the lead. However, government restrictions on international travel continue to hinder the ability for companies to conduct important business functions, according to the latest poll from The Global Business Travel Association (GBTA).
Compared to last month, this poll shows a 12% increase in companies opening travel and fewer companies suspending or cancelling all travel. Domestic
Business Travel Demand Is On A Steady Rise But Government Policies Continue To Hamper Return To International Travel
More companies are reporting a willingness and actual return to business travel, with domestic travel taking the lead. However, government restrictions on international travel continue to hinder the ability for companies to conduct key business functions. This according to the latest poll from TheGlobal Business Travel Association (GBTA) – the world’s largest business travel association and worldwide leader in education, research, networking and advocacy for the industry. This poll is the 21stin a series tracking the pulse of GBTA’s membership of global travel buyers and suppliersand how the travel industry overall is managing the return to business travel,