Travellers saw a 19-percent lower price on domestic airline tickets versus those who booked less than seven days in advance
Miami, FL—Travel Leaders Corporate has released data from its clients’ annual business travel bookings indicating that the number of business travellers who book domestic airline tickets 14-20 days in advance increased 10 percent in 2013 as compared to the previous year. The data also shows that, on average, those travellers saw a 19-percent lower price on the cost of their domestic airline ticket versus those who booked less than seven days in advance, the data said.
However, the biggest shift has been away from booking travel arrangements 21 days or more in advance, potentially to avoid an airline’s domestic change fee while also taking advantage of lower fares that are offered 14 days or more in advance. In addition, the data confirms that the average total cost of an international business trip has reached a four-year low. Travel Leaders Corporate is a division of Travel Leaders Group.
“In 2013, we saw a 10-percent increase with business travellers booking airfares in the 14-20 day range,” said Travel Leaders Corporate President David Holyoke. “During the same period, the number of transactions where the client booked more than 21 days out decreased by 11 percent. Business travellers are cognizant of the cost incurred when changing an airline ticket, which in some cases can be as much as $200. Through the work of our account managers and analysts, we are able to monitor actionable data and work closely with our clients to reduce the amount of change fees, ensuring that their trip is as cost efficient as possible.”
In 2013, the number of clients booking their airfare in the 0-6 day range increased by one percent, and remained relatively flat with clients who booked in the 7-13 day range. The results indicate that most business travellers purchased their airline ticket 14-20 days in advance, with the fewest amount of business travellers purchasing their airline ticket 21 or more days in advance.
In addition, the data also indicates that the average cost of an international trip last year—including combined air, car and hotel—has reached a four-year low, a trend Travel Leaders Corporate identified in mid-2013. Clients paid on average $2,461 in 2013, as compared to $2,508 in 2012.