Yapta, the pioneer and leading provider of airfare and hotel price tracking services, published the findings of its third annual study examining corporate airfare and hotel prices. The analysis was gleaned from more than 2.5 million itineraries representing $2 billion in business travel expense from large and mid-size corporations. The findings offer some surprising insights into corporate airfare and hotel pricing – including the behavior of negotiated fares and rates relative to public pricing, a review of when prices are most likely to drop, and which suppliers are the most volatile with their pricing.
“This year’s pricing study attempted to look at areas of hotel and airfare spend that we hadn’t observed before,” said James Filsinger, President and CEO of Yapta. “In particular, we took a closer look at the differences between public and negotiated rates, and we drilled deeper into our hotel pricing data to identify exactly when and where the volatility occurs in this segment of travel. The findings were very telling, and should be of tremendous value to those running large travel programs.”
The study looked at both domestic and international itineraries that had been booked in the United States and traveled between May 31, 2015 and May 31, 2016. The data was sourced using Yapta’s IQ Technology, which dynamically monitors ticketed airfares and booked hotel stays, and alerts travel managers and travel management companies when prices drop on identical itineraries and comparable rooms.
A number of key findings were revealed by the study, including:
- The top 10 city pairs (both domestic and international) for airfare volatility
- The top 10 most volatile airlines
- Airfare volatility by days-to-departure
- Savings on negotiated airfares vs. public fares
- Hotel rate volatility by city, brand and month
- An in-depth analysis of how amenities, room type, bed type and public vs. negotiated rates play into savings across hotel brands
With access to the unparalleled data provided by Yapta’s IQ Technologies, corporate travel managers are better equipped to enforce booking policy, enhance supplier negotiations, and maximize reductions to the average ticket price for airfare, and the average daily rates for hotels. Yapta provides transparency into room types booked (view, club level, superior), greater visibility into how well negotiated rates perform against market rates, and a clear picture of the true value of amenities. In addition, traveler satisfaction is improved as they now have the confidence to book at their convenience, knowing that they either secured the best price – or as prices fluctuate, that they will ultimately receive the lowest price.
For more detail on Yapta’s airfare and hotel study, download the full white paper here: