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Price inflation in 2022 has not spared the the business travel sector and tourism in general. This is why we have decided to analyze the evolution of B2B hotel prices in the main international destinations for business trips. This analysis is intended to provide companies of all sizes and in all sectors with a reference base for adjusting their travel policies and adapting their budgets to current market conditions. This study was carried out on the basis of consumption data from 300 companies and more than 10,000 travelers in order to provide an objective reference base for all companies.
This study was based on the consumption data of more than 300 companies and more than 10,000 travelers worldwide, in order to provide an objective baseline for all companies.
The average price per night of hotels in major business travel destinations has increased significantly in 2022. A telling example is the city of Casablanca, with +78% inflation on its hotel prices in 2022. Zagreb, with +68% inflation, and Madrid, with +60% inflation in 2022, reflect an upward trend in the average price per night of B2B hotels.
On the other hand, some cities, such as London, have seen their hotels resilient in the face of price inflation. Only 6% inflation is expected in the average price per night of B2B hotels in London over 2022.
Not all cities have been impacted in the same way on hotel price inflation in 2022. On average, and globally, the price of overnight stays for business travel increased by 37% in 2022. It is important to take this average increase into consideration in order to adjust your travel budget.
For example, Milan with its 24% inflation on B2B hotels represents a significant increase in your budget, but it is still below the 37% increase in hotel prices worldwide.
The most resilient cities to price inflation are: Barcelona, Brussels, Milan, Berlin, London and Amsterdam.
In addition to inflation, the disparities between B2B hotel prices in each city are important to consider when budgeting for business travel. A B2B hotel costs an average of 268 euros in New York, 235 euros in London and "only" 124 euros in Barcelona.
Following the evolution of prices per night in your B2B destinations is the best way to reduce your travel expenses.
Indeed, these prices can vary significantly and erratically depending on seasonality and inflation. For example, B2B hotels in New York City have gone from an average of €115 per night in January 2022 to €408 in August, and back down to €177 in December 2022.
Download the B2B Worldwide Hotel Price Index 2022 to readjust your travel policy and adapt your budget to current market conditions.
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