Some good news for corporate housing owners and professionals. Business travelers who hit the road in 2011 can expect airfares and hotel rates to increase by an average of 10%, according to a forecast released last week by American Express Business Travel, the corporate travel division of American Express.
The primary piece of good news in the forecast was that rental-car rates will likely remain about the same because of increased competition and a large inventory of rental cars.
The forecast itself is based on price predictions for airline tickets, hotels and car rental rates for more than 500 cities worldwide.
Even though more businesses are expected to send their employees to business meetings next year, meeting planners will be doing everything they can to make it cheaper to attend by hosting less-expensive conferences with significantly pared-down amenities, according to American Express Business Travel.