Business travel

TravelPerk data shows largest price increases in US

According to data compiled by TravelPerk, second-quarter travel costs in the eastern United States rose the most due to inflation among global destinations.

The data, based on bookings made through the TravelPerk platform, showed that three of the top five price increases from the first to second quarters were for itineraries departing from New York. Flights from New York to San Francisco nearly doubled in the second quarter compared to the first quarter, flights from New York to Paris were 62% more expensive and flights from New York to Amsterdam were up 36%, according to TravelPerk. Other routes with the largest increases include Berlin-London (up 43%), London-Berlin (up 42%), London-New York (up 35%) and São Paulo-Amsterdam (up 43%). 28%).

Hotel prices in New York saw some of the highest levels of inflation in the second quarter, up 49% from the previous quarter, the data showed. Chicago saw the highest hotel rate inflation, up 77%, followed by Boston with a 63% increase. Other cities that outpaced hotel price inflation in the second quarter included Barcelona (up 48%), Berlin and Paris (each up 38%).

“These increases are due to a number of external factors that all parts of the travel industry are grappling with, including rising fuel costs, a labor shortage and disruptions to the economy. world,” TravelPerk chief revenue officer JC Taunay-Bucalo said in a statement. statement. “However, it is also true that suppliers are seeing an increase in demand and looking to make up for lost revenue during the pandemic. With travel demand still extremely high as businesses and consumers rush to get back to meeting in person for work and play post-pandemic, we expect the cost increases we are seeing to continue through the end of this year.”

The data also indicated that business travelers are still booking much closer to their travel date than they were before the pandemic, which is also driving higher fares, Taunay-Bucalo added.

Besides the increase in flights from New York, travel costs in San Francisco have not been hit as hard by inflation, according to data from TravelPerk. While hotel costs in the second quarter rose 22% quarter-over-quarter, it was one of the lowest rates of increase among major cities, tied with London, Madrid and Tallinn, Estonia. Only Singapore (4%) and Zurich (19%) had lower inflation rates.

Two routes from San Francisco also had the lowest quarter-over-quarter inflation rates: San Francisco to Amsterdam, up 6%, and San Francisco to London, where fares were down 4%, TravelPerk reported. The London-Singapore route, whose costs fell by 10%, was the only route with a lower inflation rate.

Price inflation on rail routes has not been as high as on air routes, according to TravelPerk. The largest quarter-on-quarter increase is in travel from Bordeaux to Paris (up 35%), followed by Berlin to Munich (up 31%) and Paris to Bordeaux (up 30% ). The lowest inflation rates on rail routes were Heathrow-London (down 15%), Manchester to London (down 2%) and London to Manchester (up 5%).