A new report shows that Lyft accounted for 19 per cent of the business travel ride-hailing market in the US in quarter one – nearly double the 10 per cent it took for the same quarter in 2017.
The latest Spendsmart report by expense management software provider Certify reveals the most popular airlines, hotels, restaurants and ground transportation services among business travellers in the US. It analysed data from more than 10 million receipts and expenses for the first quarter.
According to the research, Uber remains the dominant ride-hailing service in the country at 81 per cent of the market, but its share has markedly decreased year on year since Lyft came on the scene – down from 90 per cent in 2017 and 95 per cent in 2016.
Ride-hailing continues to dominate the business travel market, accounting for 70.5 per cent of ground transport receipts. Rental cars took 23.5 per cent and taxis took just 6 per cent. In the first quarter of 2017, Uber and Lyft only accounted for 59 per cent of the market.
Compared to Q1 2014, when ride-hailing took 8 per cent of expenses, it’s clear that such services are becoming more commonplace for corporate travel.
However, business travellers appear to be keeping a tight belt on their budget, with only 6 per cent who used Uber and 2 per cent using Lyft leaving a tip for their drivers.
Robert Neveu, president and CEO of Certify, commented: “Lyft’s jump is the biggest surprise of Q1. As Uber experienced change in its senior leadership team and challenges in various markets, Lyft stayed the course and gained market. It will be very interesting to see if Lyft is able to maintain this level of usage in the business travel space.”
Meanwhile, Delta was the most popular airline for US business travellers, while Hampton Inn (a Hilton brand) was the most-used hotel chain.
Read the full report here.
certify.com