UK: One third of buyers will have bigger corporate travel budgets in 2019, according to research by the Business Travel Show.
This figure is on par with 2017, but down from 40 per cent last year. The poll of 134 European buyers also showed a slight increase in the number of budgets on the downturn – from 13 per cent in 2018 to 15 per cent next year.
Encouragingly for the serviced apartment sector, the survey showed fewer buyers will see a reduction in their accommodation budgets – 14 per cent compared to 24 per cent year-on-year. Nearly a third (29 per cent) said they have a bigger accommodation budget for 2019, while 56 per cent reported no change in budget.
Forty per cent of buyers predicted an increase in room nights booked, 10 per cent anticipated fewer room nights, with half expecting the same level.
One third of buyers will have more trips to manage, significantly fewer than the 45 per cent last year. And there was a drop in the number who forecast an increase in travel costs – from 47 per cent last year to 43 per cent.
David Chapple, Business Travel Show group event director, said: “The wobble shown by these results may reflect the uncertainty and dent in confidence the industry is currently experiencing in the light of Brexit. Despite the EU agreeing to the Government’s plan to divorce, how Brexit will affect business travel for the UK and Europe is still very much conjecture and, unsurprisingly, organisations are remaining cautious about spend.”
To recognise the contribution of business travel to the serviced apartment sector, SAN will be hosting a travel buyer half-day event alongside Serviced Apartment Summit Europe 2019, July, London. Limited no cost corporate travel buyer tickets and sponsorship opportunities are available. For more information email Caroline Evans caroline@internationalhospitality.media or telephone +44 (0)20 8340 7989
