Forecast Shows Airfares and Hotel Rates Rising Next Year
Global hotel rates will increase around the world by 1 to 3 percent and airfares by 1 to 2 percent in 2019 in most markets, according to BCD Travel, a TMC. In its 2019 Industry Forecast, the company said the rise in hotel rates is largely due to demand growth slightly outpacing supply in most markets. Airfares are expected to remain flat in Africa, decrease by 2 percent in Latin America and increase by 1 percent or 2 percent in all other regions. The forecast provides travel managers with projected prices in preparation for supplier negotiations and budgeting. It includes supply, demand and pricing trends for air, hotel, meetings and ground transportation for all major regions of the world. In addition to its pricing forecasts and buying strategy recommendations, the forecast also includes discussions of: travel risk and security; hotel chainwide agreements; alternative accommodations; global and regional macroeconomic trends; hotel mergers; and meetings.