Corporate Hotel Rates Down from 2019, but Probably Not For Long

Current business travel volume is about 30% of 2019 levels and average daily hotel rates remain lower as well but are increasing.

The figures, from hotel analytics firm Tripbam's second-quarter market report, also reveal global market hotel rates are up 10% month over month and are on pace to reach 2019 levels before year's end if they continue on that trajectory.

For travel buyers, "now is the time to hustle and get deals in place, or you could have a real challenge later this year," said Steve Reynolds, Tripbam's founder and CEO, during a webinar reviewing the report's results.