Corporate travel may be slowing down among highly desirable road warriors, according to research from Deloitte. Among respondents to Deloitte’s 2025 Corporate Traveler Survey, 53 percent of frequent corporate travelers (10 or more trips per year) said they expected to travel three or more times in a typical month, down from 63 percent in 2024. Like their higher-income counterparts, frequent corporate travelers are more likely to book premium options when they travel.

If higher-income travelers and frequent corporate travelers pull back their spending in 2026, said the report, categories that benefit most from post-pandemic growth in upgrading may be “particularly exposed.” Upgrading to premium cabins, which has been hugely important to airlines in the past few years, could soften or plateau in the year ahead, increasing the importance of reaching the right flyer with the right offer at the right time.

Midscale and upscale destination resorts and city hotels could see erosion of occupancy or rates as higher-income travelers become more deal-sensitive or shorten their stays and business travelers rake fewer trips.

Overall, according to Deloitte’s 2026 Travel Outlook, travel remains a priority, but growing financial caution and economic uncertainty may temper both the leisure and corporate travel momentum that have defined the post-pandemic recovery.

Highlights of the report included:

• Competition intensifies for high-spending travelers. While ultra-luxury demand appears resilient, airlines and hotels may face increased pressure to precisely target premium offers as more affluent travelers become selective, value-conscious or reduce discretionary spend.
• Gen Z and Millennials now define the center of US travel demand. The two youngest adult generations are shaping how trips are planned, booked and experienced — driving changes in channel mix, sustainability expectations and definitions of value and luxury. Their continued travel activity, even during periods of softer demand, is expected to influence product design and marketing strategies across the industry.
• Gen AI begins to reshape how travel is discovered and purchased. Adoption of generative AI tools is accelerating across travel planning and shopping, signaling a shift in how travelers search, compare and decide. While fully integrated booking experiences are still emerging, this year may mark a turning point in personalization, merchandising and the path to purchase.