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August 10, 2010 American Express Business Travel said corporate hotel rates declined 2 percent year-over-year in the first half of 2010 versus 2009 for domestic and international stays. However, it noted rate increases in selected cities. The mid-year average international booked rate paid was $230 while the domestic average was $149, according to its North American Business Travel Monitor.
August 10, 2010 American Express Business Travel said "overall airfares increased substantially" in the first half of 2010 compared to 2009. International airfares rose 8 percent year-over-year in the first half of 2010 with an average international fare paid of $1,768. Domestic airfares rose 9 percent during the period with an average domestic fare paid of $233.
August 8, 2010 Travelers to Boston and Portland, Ore. face the highest "discriminatory" travel taxes in the United States, above $21 per day, according to an NBTA Foundation report examining taxation on car rentals, hotel stays and meals in the 50 largest U.S. cities. Orange County, Calif. levies the lowest discriminatory tax total on travel services, $2.19 on average per day, followed by eight other California cities. NBTA defines discriminatory taxes as "those imposed specifically on travel services above and beyond general sales taxes," often including "a bewildering combination of charges such as excise, occupancy, transportation, tourism, special, facility and capital improvement taxes, plus a long list of other taxes and fees frequently imposed by overlapping jurisdictions." Sponsored by Concur, the report found that overall daily travel taxes, including both discriminatory and general sales, are highest in Chicago ($38.75), New York ($36.53) and Boston ($36.47), and lowest in Ft. Lauderdale and Ft. Meyers, Fla. ($21.22), followed by Portland, Ore., which charges no general sales tax on travel services. To establish comparable figures, general sales taxes are based on daily costs averaged across all cities for hotel rooms ($97.33), car rentals ($55.22) and meals ($86.74).
August 5, 2010 Hyatt Hotels Corp. reported a June quarter net profit of $25 million compared with $50 million the year before. The company "absolutely" expects to see percentage increases for corporate rates next year, ranging "from low single-digits to low double-digits," but "it will vary a lot based on the individual account," according to CEO Mark Hoplamazian. Globally, revenue from transient customers increased during the second quarter versus last year as systemwide average daily rate increased 0.8 percent to $160 and occupancy rose 6.9 percentage points to 71.5 percent. In North America, group revenue increased 10 percent and group room nights grew 13 percent. At full-service North American properties, transient room nights sold climbed 4 percent, group bookings in the quarter for the quarter jumped 35 percent and group rates increased 5 percent.
August 5, 2010 Avis Budget Group reported second-quarter net income of $29 million, reversing the $2 million loss from a year earlier. U.S domestic car rental revenue declined 5 percent on 6 percent fewer rental days and marginally lower average daily rates. Non-U.S. car rental revenue jumped 16 percent on a 13 percent increase in average daily rate. CEO Ron Nelson told analyst that commercial pricing during the quarter was "flat" versus last year. "Large $1 million-plus accounts just aren't getting very significant price increases, if any," he said. August 4, 2010 Hertz is observing "accelerated" commercial business and anticipates that average contracted rates by year-end would stop declining, according to CEO Mark Frissora. He detailed how commercial pricing in April fell 3.5 percent year over year and improved each month through July, when it was down 0.5 percent. "We have competitors that have been very aggressive in trying to get corporate business and we have not given up any market share," Frissora explained during a Wednesday conference call with analysts. "Whether it be a General Electric or an IBM, big accounts that have airport market share are ripe for competitors to go after if they are trying to gain share. We have about 45 percent-plus share among the Fortune 500 companies and that is share that we have had to defend. Pricing should start to improve, certainly going into next year, but that is very difficult to predict when you are negotiating 200 contracts every month." He noted that Hertz's "top 25 accounts" are producing volumes that are up "20 to 25 percent" versus last year. According to company information, total on-airport commercial transaction days increased 14.3 percent during the second quarter. Hertz Global Holdings reported second-quarter adjusted net income of $58.5 million, up from $49.6 million a year earlier. The company's largest business, U.S. car rental, achieved "record second quarter" performance.
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