Ovation Travel’s 2020 Annual Business Travel Index did not see any big shifts in airfare or hotel average prices paid in 2019 for any of the industry benchmarking groups. Ovation Travel is an independently owned $1.4 billion TMC. Michael Steiner, executive vice president, said domestic airfares were down $1 per transaction and domestic hotel rates up $1. In terms of international travel, prices appear to have softened last year overall, with both average airfares and average hotel rates paid in 2019 mostly down year-over-year for most of the industry benchmarking groups. The index identifies trends and benchmarks individual client activity against a “yardstick” representing over $1.4 billion (Cross-Country Business Travel Index) $74 million (Financial Services Firm Business Travel Index), $220 million (Law Firm Business Travel Index), $55 million (Technology Industry Business Travel Index) and $22 million (Biotech & Healthcare Industry Business Travel Index) in annual air and hotel spend. The data serves as a resource in determining opportunities for strengthening clients' travel programs in such areas as travel policy adjustment, service enhancements and supplier negotiations.