Hogg Robinson Group Says Rates Still Tumbling

Hogg Robinson Group says that there are still no signs yet of stability in the hotel market. They go on to say that hotel rates are still falling, and they may even have a long way to go before they start to stabilize once again. This is the report that came in from a hotel survey from Hogg Robinson Group on August 6.

The survey, which was covering the first six months of 2009, said that it found that rates in 12 key cities around the world still fell in both the first and second quarters of the year. This includes such cities as Paris, London, Hong Kong and Zurich. The fall in business travel has allowed corporates to negotiate better rates for their travelers.

The director of global hotel relations at Hogg Robinson Group, Margaret Bowler said, “The shift in business practices has been substantial and those that adapt well can reap benefits from the unusual trading environment. Hotels are adopting sensible pricing in order to maintain current occupancy levels.”

Bowler went on to say, ” Our clients still want to travel and we are helping them find the best and most effective ways to cut costs, identifying alternative travel options to help manage and reduce corporate travel budgets.”

The survey did show that corporates are traveling a lot smarter now and looking to control costs. This may be opening a brand new door for the world of travel. Some experts say that the world of air travel will never return to what it used to be. The days of people spending tons of money on airline tickets could be long gone, even after the recession is over.

Thanks to www.abtn.co.uk for the above quotes.