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Corporate travel bookings move online

June 29, 2012 | Hotel Marketing

A recent report from PhoCusWright reveals that a combination of recessionary pressures, advances in technology and changes in U.S. business traveler behavior has driven strong growth in the online corporate travel marketplace.

If the last several years are any indication, corporate travel trends are pointing in one direction: online. A recent Global Edition report from PhoCusWright reveals that a combination of recessionary pressures, advances in technology and changes in U.S. business traveler behavior has driven strong growth in the online corporate travel marketplace. According to PhoCusWright's U.S. Corporate Travel Report: Market Size and Technology Trends, a new wave of companies either turned to online booking tools, or else accelerated their online adoption efforts during the recession.

In 2009, the online channel accounted for half of all corporate travel bookings. But the recession brought greater emphasis on cost-cutting, and more companies began to insist that employees book their air, car and hotel online to save money. In addition, mobile and tablet apps have quickly gained popularity, as companies seek to accommodate their travelers' preferred modes of behavior. As a result, online corporate travel bookings have grown significantly, and are expected to increase through 2013, when 56% of all corporate travel dollars will be spent online.

"We're seeing several key factors contributing to the growth of online bookings in the corporate travel marketplace," says Susan Steinbrink, senior research and corporate market analyst at PhoCusWright. "Not only does the online channel represent a way for companies to potentially save money in their managed travel programs, but there is also a heightened expectation among corporate travelers to be able to use tools similar to those they use to manage their leisure travel. That means websites, mobile and tablet apps."

Related Link: PhoCusWright

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