Corporate Hotel Rates Forecast to Rise

25th October 2007 (Last Updated October 25th, 2007 09:27)

The price of corporate travel is set to rise in 2008, the American Express Global Business Travel Forecast says. Amex says worldwide mid- and upper-range published hotel rates will climb by 11 percent to 14 percent. Hotel rates in the Asia-Pacific region are set to increase by

The price of corporate travel is set to rise in 2008, the American Express Global Business Travel Forecast says.

Amex says worldwide mid- and upper-range published hotel rates will climb by 11 percent to 14 percent.

Hotel rates in the Asia-Pacific region are set to increase by 18 to 22 percent, driven by the Beijing Olympics, economic growth in the region and an increasingly mobile population.

UK mid-range hotels will rise 19 to 22 percent and upper-range properties will increase their rates by 21 to 24 percent, the report says.

“High demand and slow growth of supply is likely to force prices up and will impact access hoteliers give to last room availability rates,” Amex says.

“Companies may also encounter minimum and maximum stay requirements and instances when corporate rates do not apply.”

By staff writer