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The average cost of a business trip for UK and Ireland firms has fallen 7.2 per cent, a report from CWT has found.
The travel management firm’s industry ‘barometer’ shows a drop in cost for the first quarter of this year compared to the same period in 2014.
The study also found that business class booking share has dropped 7.3 per cent in favour of economy class tickets, with the lowest class now accounting for 83 per cent of the market share.
London remained the top destination for hotel bookings in the UK, despite a 24.2 per cent fall in the number of reservations compared to the same period last year. Aberdeen recorded the fastest rate of bookings growth at 18.5 per cent, followed by Manchester (5.7 per cent) and Birmingham (5.2per cent).
The report also found that the average hotel room rate had fallen by 2 per cent, driven by a shift towards standard and economy hotels.
The barometer is produced by CWT Solutions Group and analyses CWT’s data to create year-on-year comparisons, benchmarking changes and developments in the business travel industry.
Carlson Wagonlit Travel was named the number one travel management company in BBT’s Top 50 UK TMCs.