Business travel is back in a big way.
American Express Global Business Travel (Amex GBT), the world’s leading BTB travel platform, told company investors on a recent fourth-quarter 2022 earnings call that they expect total business travel spending to grow by 24% in 2023 to reach over a trillion dollars.
Expectations for a strong year are supported by data from the company’s vast customer portfolio and studies from across the industry. According to the Global Business Travel Association’s Q1 2023 Business Travel Outlook Poll published at the end of January, domestic and international bookings are currently at 67% and 54% of 2019 levels. This is up from 63% and 50% in their October survey.
BRIGHTER DAYS FOR BUSINESS TRAVEL
According to Amex GBT, 78% of travel managers expect more, or a lot more trips in 2023 versus 2022. 86% of travel suppliers expect higher spending from corporate customers in 2023, an improvement from 80% in October. Finance, insurance, professional services and consulting are the sectors showing the strongest growth rates. This expected increase in demand will be met by increased supply supporting confidence in solid industry growth this year. IATA expects capacity growth of 18% globally in 2023. This includes 5.5% in North America, 6.1% in Europe and 48% in Asia Pacific, largely driven by China.
Business Travel. Briana Tozour photo courtesy American Express
SMALL BUSINESSES LEADING THE WAY
Amex GBT says that SME clients “were leading recovery” and it was benefiting from an “all-time high” in win rates and customer satisfaction in this segment of the market. The company told investors that distributed teams and hybrid work models are creating new demand for business travel, meetings, and events; and that global travel spend is expected to grow as capacity increases and existing restrictions in various regions are softened or lifted. Increased meeting bookings also boosted hotel revenue, particularly for groups of under 50 people
Amex GBT’s meetings and events division has more than recovered, compared with 2019, and those smaller meetings now represent its fastest growing area of business, said CEO Paul Abbott. While the recovery for business travel has been lagging behind the leisure sector in the aftermath of the pandemic, the company’s latest earnings report paints a more hopeful picture for 2023.
Adare Manor in Ireland. Tourism Ireland Photo.
HAPPY ST. PATRICK’S DAY: IRELAND’S ADARE MANOR GETS FIVE STARS FROM FORBES
Forbes’ Travel Guide – the only independent, global rating system for luxury hotels, restaurants, and spas, and creator of the original five-star luxury hotel rating system – has awarded a five-star rating to Adare Manor in County Limerick. And just in time for St. Patrick’s Day!
Ireland’s leading manor resort, and host of the 2027 Ryder Cup, secured the five-star accolade following strict evaluation on over 500 rigorous standards. These test the resort on multiple criteria from distinctive dining experiences to luxurious beds, intuitive guest care and supreme service.
My wife and I got to spend the night at Adare Manor on our visit in 2010, and absolutely loved it.
An overhead look at the Fairmont Banff Springs Golf Course. Jacob Sjöman photo courtesy Fairmont Hotels and Resorts.
ICONIC FAIRMONT GOLF COURSES OPEN IN MAY IN BANFF, JASPER AND WHISTLER
Dust off the clubs and get ready for the grandest of fairway experiences in Banff, Jasper and Whistler as the Fairmont courses in Canada’s Western Mountain Region prepare to open in May for the 2023 season.
In addition to an exciting round of golf at these top ranked courses in North America, the resorts have teed up an array of packages and offers to ensure golf enthusiasts from around the world have a most memorable experience at Fairmont Banff Springs, Fairmont Jasper Park Lodge, and Fairmont Chateau Whistler.
I’ve been fortunate enough to play all of them, and they’re truly magnificent courses, with great layouts and, of course, stunning mountain views.
Anticipated 2023 opening dates and early season green fees are as follows:
- Fairmont Banff Springs Golf Course
Opening dates: Stanley Thompson, May 12; Tunnel Mountain (9 holes), May 5
Early season green fees start from $195 CAD.
Click here for more information on Banff golf packages and offers. - Fairmont Jasper Park Lodge Golf Club
Opening date: May 5
Early season green fees start from $185 CAD, with opening twilight rates starting from
$127 CAD.
Click here for more information on Jasper golf packages and offers. - Fairmont Chateau Whistler Golf Club
Opening date: May 5
Early season green fees start from $135 CAD, with opening twilight rates starting from
$80 CAD.
Click here for more information on Whistler golf packages and offers.
From vacation packages in Banff and Whistler, to an Early Bird Luxury Golf Package in
Jasper, it’s time to embrace the season and book a grand golf getaway with Fairmont Hotels in Canada’s Western Mountain Region.
