What is the definition of business travel?
Business travel, often known as corporate travel, refers to travel undertaken on behalf of a company or for the purpose of conducting business with another company. The word applies regardless of how frequently the traveller travels or how far away from his or her regular workplace the journey takes them (s).
Traveling to a different branch of the same firm, seeing suppliers or business partners in a different area, or attending a conference or business event are all examples of common sorts of business travel. Most definitions include travel that requires at least one overnight stay away from the workplace.
Business travel is on the rise.
Many in the travel industry are paying more attention to the business travel sector, because business travellers tend to spend more money on their trips, especially when their expenses are covered by their company. More crucially, business travel is increasing as a result of variables such as globalisation and flight availability.
Finances Online’s research serves to highlight the magnitude of growth. According to a research conducted by the Global Business Travel Association, global business travel expenditure increased by more than 5% between 2016 and 2018. Meanwhile, a Deloitte report predicts that growth will continue in the next years.
For hotels, the rise in business travel is particularly tempting. After all, firms spend 13% of their total business travel expenditure on lodging, according to Certify. A additional 21% is spent on food, and hotels may be able to capture part of this through hotel restaurants and room service choices.
How to Get More Business Travelers to Stay at Your Hotel
Many hotel operators are drawn to business travellers because they provide prospects for repeat business and their travel habits are less seasonal than those of leisure travellers. Additionally, attracting corporate travellers opens up opportunities to generate revenue from conference rooms and other amenities or services.
You’ll learn more about the advantages of generating business from corporate travellers in the article “Recommendations to Attract More Corporate Travellers to Your Hotel,” as well as seven practical tips for enticing them to your hotel.
For those in the hotel industry who are able to profit from it, the business travel market is growing increasingly attractive. This article’s eight business travel trends give a good foundation for attracting corporate travellers.
More Business Travel Suggestions
Many in the travel industry are paying more attention to the corporate travel sector, because business travellers tend to spend more money on their trips, especially when their expenses are covered by their company. More crucially, business travel is increasing as a result of variables such as globalisation and flight availability. More information regarding the corporate travel market can be found in the following articles:
- Corporate Travel Management: What You Should Know
How Do You Choose a Reliable Business Travel Management Company?
Why Should Companies Use a Business Travel Agency?
GDS (Global Distribution System): What Are the Hotel Advantages?
More Business Growth Suggestions
Revfine.com is a hospitality and travel sector knowledge platform. Our insights, tactics, and actionable advice help professionals become inspired, increase revenue, innovate procedures, and improve customer experience. All travel industry suggestions can be found in the Marketing & Distribution and Technology & Software sections.