Business Travel Trends

Business Travel Trends highlight evolving patterns in corporate travel, reflecting shifts towards technology integration, sustainability, personalized experiences, and traveler well-being. These trends are crucial for companies to adapt and innovate their travel policies and practices, ensuring efficiency, cost-effectiveness, and employee satisfaction in a rapidly changing global business environment.

Key Takeaways

  • Bleisure Travel: A growing trend combining business with leisure, appealing to millennials.
  • Personalization: Tailoring travel experiences to individual preferences enhances loyalty.
  • Sustainable Options: Increasing focus on eco-friendly travel options and practices.
  • Tech Integration: Enhancing travel efficiency through digital tools and platforms.
  • Health and Safety: Prioritizing traveler well-being and safety measures.
  • Flexibility in Booking: Offering more adaptable booking options to accommodate changes.
  • Virtual Reality: A business traveler can use virtual reality previews to see what your hotel looks and feels like.
  • Healthy Options: This includes access to wellness amenities, healthier meal choices, and facilities that support physical well-being.
  • Self-Booking: Self-booking tools gain traction, offering travelers control and customization of their trips.

Table of Contents:

Introduction

Business travel is growing. As a result, hotels and others in the travel industry are looking to attract more business travelers, but to do so effectively, you need to know what those travelers are looking for. In this article, you will learn more about the latest trends influencing modern business travel decisions.

What is Business Travel?

Business travel, otherwise known as corporate travel, is a term used to describe travel carried out on behalf of a business or to do business with someone else. The term applies regardless of how frequent the travel is, or how far away from the day-to-day work it takes the traveler (s).

Some common types of business travel include traveling to a different branch of the same company, traveling to a different location to meet suppliers or business partners, or traveling for a conference or business event. By most definitions, it involves traveling away from the workplace that requires at least one overnight stay.

Business Travel is Growing

This business travel market is receiving an increased focus from many in the travel industry, partly business travelers often spend more money on their travels, especially when their employer covers their costs. However, more importantly, business travel is growing, thanks to factors like globalization and the availability of flights.

Research compiled by Finances Online helps to highlight the extent of growth. For example, a study from the Global Business Travel Association shows that between 2016 and 2018, global business travel expenditures grew by more than five percent. Meanwhile, a Deloitte analysis estimates further growth in upcoming years.

Business travel growth is especially appealing for hotels. After all, according to Certify, businesses spend 13 percent of their entire business travel budget on accommodation. Additionally, a further 21 percent is spent on meals, and hotels may be able to secure some of this through hotel restaurants and room service options.

The growth of business travel and the increase in business travelers requires a response from the hotel industry. Hotels need to communicate with business travelers in different ways than with pure leisure travelers, appeal to them with different services, and carefully consider what they need, want, and expect.

8 of the Latest Business Travel Trends

For hotel owners and others in the travel industry interested in capitalizing on the growth of business travel, it is important to keep up with the latest developments. Below, you will learn about eight of the latest business travel trends, and how they disrupt the industry.

1. Bleisure Travel

Bleisure travel refers to travel that combines both business and leisure elements. It is often primarily motivated by business, but the business traveler finds time on their trip to engage in leisure activities, or extends the duration of their business trip, to see the sights and participate in leisure activities.

Crucially, research shows that it is growing. Indeed, according to Expedia, more than 40 percent of trips are extended for leisure purposes, representing a key demographic for hotels to appeal to.

This significant business traveler demographic can potentially be convinced to extend their stay in your hotel with the right offering. Aside from granting easy access to nearby attractions, hotels need to think about the services and amenities they can provide so that business travelers have opportunities to enjoy themselves.

According to a study from SAP Concur, Millennials are the generation that takes the most bleisure trips, accounting for 38 percent of them in total. However, other generations are not far behind, with both Generation X and Baby Boomers accounting for 31 percent of bleisure trips each, highlighting its growing popularity across the board.

Video: Bleisure Travel

 

Find more detailed information about “Bleisure Travel” in the articles “What is Bleisure Travel?” and “Bleisure: Tips for Hotels to Attract More Bleisure Travelers”.

2. Personalization

The airline industry has been extremely effective at capitalizing on business travelers’ need for personalization, realizing that these travelers can become frequent, loyal, and high-value customers if they are treated as individuals. This desire for personalization has also extended to other areas of the travel industry, including hotels.

In truth, the personalization options hotels can offer are almost endless, especially given business travelers’ tendency to travel to the same places frequently. This allows hotels to use data from past trips to make recommendations, predictions, or adjustments, based on an individual’s habits, the services they have used, their payment methods, etc.

Video: Personalization in Travel

 

Find more detailed information and examples about “Personalization marketing” in the travel industry in the article “5 Ways Personalization Marketing is Used in the Travel Industry”.

3. The Internet of Things (IoT)

Due to Internet connectivity, the Internet of Things refers to devices, appliances, and other ‘things’ that can send and receive data. IoT devices are becoming more common in households, with examples including smart energy meters, smart televisions, and smart speakers, and business travelers expect the same from hotels.

Hotel guests want personal control and a seamless experience. IoT devices that allow them to remotely control heating, or use voice commands to request information, are two possible examples of this. Additionally, hotels can stand out by offering seamless check-ins, automatic payments, and rooms that can be unlocked via a smartphone.

Video: Smart Hotel

 

Find more information and examples about the ‘Internet of Things’ in hotels in the article “Smart Hotel: What Are the Benefits for Hotel Owners and Guests?”.

4. Sharing Economy

The sharing economy continues to disrupt the entire travel industry, but can hold particular appeal for a business traveler, due to the ability to save money and share experiences with people traveling in similar circumstances. Moreover, companies are increasingly concerned about their business travel being environmentally friendly.

Business travelers are taking advantage of the sharing economy in many different ways, including ride-sharing, which can reduce transport costs, and home-sharing, which can offer both financial and social benefits, compared to more traditional options. Hotels are responding to this, offering room-share options and ride-share access.

Video: ITB Berlin – Sharing Economy – Challenge Or Opportunity For Tourism Destinations

 

5. Customer Experience

A huge part of travel management involves focusing on the customer experience. This is important for all businesses connected to the travel industry, from airlines and car rental companies to hotels and restaurants, because the customer experience has arguably become an even more important competitive differentiator than product or price.

Various statistics compiled by Chameleon Collective emphasize this, with 86 percent of customers willing to pay more for a better customer experience and 84 percent of companies that focus on customer experience reporting a revenue increase. Good customer service can also enhance your reputation, attracting more business travelers.

Video: Customer Experience

6. Virtual Reality

Finally, virtual reality technology has become mainstream in recent years, and travel customers expect it to disrupt the travel industry far more in the near future. In fact, based on research from the DCC Forum, 79 percent of business travelers expect virtual reality previews will be the new normal within 10 years.

A business traveler can use virtual reality previews on your hotel website or other hotel booking platforms to get a clear idea of what your hotel looks and feels like. VR tours can also be ideal for showcasing your facilities, such as a meeting or conference room, so travelers know the layout and size.

Video: Pullman Brisbane King George Square Hotel Virtual Reality Tour

 

Yo can find more information and examples about virtual reality within the travel industry in the article “Benefits of Virtual Reality Marketing for The Travel Industry”.

7. Healthy Options

While the idea of ‘bleisure’ is growing, it is also important to understand that many business travelers must travel frequently. This means they will want to maintain some element of their normal routine, rather than seeing trips as an excuse to indulge. For this reason, healthy options need to be on offer.

Those in the hotel industry can cater to business travel guests who want to look after their own health in many ways, from providing healthy snacks in hotel rooms and healthy meals in hotel restaurants to offering gym or outdoor sports facilities and opportunities to de-stress, such as massage services.

8. Workspaces With Fast and Reliable Internet

With the growth of business travel, many hotel guests are no longer primarily motivated by the services, amenities, and facilities in their hotel rooms. Instead, a typical business traveler also wants to know that the workspaces they can access in the hotel will offer a fast and reliable internet connection.

Hotels can capitalize on this by renting our workspaces or by using these workspaces to attract corporate travelers in the first place. The reliability of the internet access you can provide is critical, as business travelers will likely need to access their company intranet, download, upload, or send files, and use online communication tools.

9. Self-Booking

Self-booking is one of the major business travel trends, an area that travel companies need to pay particular attention to. A growing number of corporate travelers now prefer to organize their own travel and use tools that allow them to do this quickly and effectively.

This trend has been partially influenced by the emergence of Millennials as the dominant generation within the workforce, as they tend towards self-service technology and mobile apps. This means that travel companies targeting business travelers may need to focus on individuals, rather than their employers.

10. Unconventional Accommodation

Finally, there is another business travel trend to be aware of that has been driven by the Millennial generation emerging as the dominant generation in the workforce: the use of unconventional accommodation. This could include boutique hotels or other properties with unique qualities, or it may include apartments or Airbnb accommodations.

These accommodations deviate from the conventional approach of hotels catering to business travelers. It opens up possibilities for travelers to stay in different locations, including those with no hotels nearby. Also, it allows travelers to enjoy an experience that more closely resembles their own home.

List of Business Travel Agents to Attract More Business Travelers

Business travel companies offer a unique opportunity for travel companies, like hotels, airlines, or car rentals, to attract more business travelers. Hotel owners can for example, achieve this by connecting with the main global distribution systems and forming close and mutually beneficial relationships with specific travel management companies.

In the article “Corporate Travel Agents for Hotels to Gain More Business Travelers,” you will learn more about how travel management companies can help hotels and find eight of the best corporate travel agents.

Tips to Attract More Business Travelers to Your Hotel

Business travelers hold special appeal for many hotel owners because they offer opportunities to attract return customers, and their travel habits are less seasonal than with leisure guests. Additionally, attracting corporate travelers opens up possibilities to make money from meeting rooms and other facilities or services.

In the article “Tips to Attract More Corporate Travelers to Your Hotel, ” you will learn more about the benefits of generating business from corporate travelers and seven specific tips for attracting them to your hotel.

The business travel market is becoming increasingly lucrative for those in the hotel industry who can capitalize on it. This article’s eight business travel trends provide a solid foundation for appealing to business travelers.

More Tips Regarding Business Travel

The corporate travel market is receiving an increased focus from many in the travel industry, partly business travelers often spend more money on their travels, especially when their employer covers their costs. However, more importantly, business travel is growing, thanks to factors like globalization and the availability of flights. In the following articles, you will find more information about the corporate travel market:

More Tips to Grow Your Business

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This article is written by:

Martijn Barten
Hi, I am Martijn Barten, founder of Revfine.com. I am specialized in optimizing revenue by combining revenue management with marketing strategies. I have over 15 years of experience developing, implementing, and managing revenue management and marketing strategies and processes for individual properties and multi-properties.