Why it’s a “Buyer’s Market” for Corporate Hotel Rates

Hotel reshopping and analytics technology provider Tripbam says corporate travel managers should be working to obtain discounts in their contracts now, before rates and occupancy start to increase as business travel returns.

Analyzing the impact of the COVID-19 pandemic on the corporate hotel space, Tripbam says it has found shifts related to rates, star rates, locations and booking trends. The data, included in Tripbam’s Quarterly Market Report, comes from the corporate transient travel bookings of its 2,000 clients around the world.

The average market rate at the end of January – which is the lowest corporate rate available in a market – is down 41% compared to the same time last year, dropping from $205 to $120, while the average booked rate has dropped from $175 to $116.

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