Average business trip cost falls 3.7%, according to CWT

The overall cost of a business trip for CWT's clients fell 3.7% to £451.04 in Q4 2014, according to the agency's business travel industry 'barometer'.

Douglas Anderson, president & CEO of CWT
Douglas Anderson, president & CEO of CWT

The barometer also found that hotel demand had significantly increased, especially on mid-scale categories (+9.5 % for economy and +17.5% for standard), which also showed increased average room rates.

London remains the top destination for hotel bookings in the UK, representing 25% of  domestic bookings and 13% of all bookings. This is despite the fact that the number of bookings in London fell by 16.11% compared to Q4 2013. Aberdeen has had the fastest rate of bookings growth since this period at 18.5%, followed by Birmingham (9.4%) and Manchester (4.2%).

Other findings showed that the luxury sector continues to struggle, with deluxe hotel bookings down by 4% and first-class flight bookings down by 18.4%. Business travellers are also becoming more savvy, with 41% booking more than two weeks in advance to get better rates.

The barometer is produced by CWT Solutions Group and analyses CWT’s data to create year-on-year comparisons to benchmark changes and development in the business travel industry.

More on CWT:

CWT records business sales of £1.04bn in 2014

CWT launches dedicated innovation team

C&IT TV Agency Cribs: Check out CWT Meetings & Events' HQ

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