Hotel rates will increase by up to 10% in key markets during 2011, according to predictions from American Express. Pricing power will swing back towards suppliers, as increased demand from business travellers will allow rates for rooms and air seats to strengthen.
The company’s latest Global Business Travel Forecast says the Asia-Pacific region will lead with room rate increases in the range 5 to 10%. Elsewhere, it will be upper range hotels that will see better price increases than the lower end of the business market.
Read the full story here: http://www.marketwatch.com/story/increased-airfare-and-hotel-rates-across-the-globe-expected-according-to-the-american-express-business-travel-2011-forecast-2010-10-20?reflink=MW_news_stmp