The premium paid on airfares booked close to the departure
date kicks in significantly only within two days of the departure date,
according to Airlines Reporting Corp.
After analyzing more than 27 million tickets to the top 15
business destinations, sold by more than 2,000 corporate agencies, ARC found
that those bought within three to seven days of travel had a premium of only 7
percent, about $47, compared with tickets bought at least two weeks in advance.
For tickets bought two or fewer days before travel, that premium jumped to more
than 50 percent, about $250, according to ARC.
ARC's study also found that the premium on round-trip
airfares for short stays also has decreased. The study compared lengths ranging
from one to four nights, mostly excluding Saturdays to keep it business travel-focused.
While fares for stays of one and two nights had a "noticeable
difference" compared with stays of three or four nights, the premium on
those tickets has dropped 80 percent compared with 2014.
"Some of the assumptions of the past, such
as: Longer trips will save significantly on airfare, are no longer true,"
according to ARC managing director of enterprise information Chuck Thackston.
"Additionally, with the findings related to advance-purchase windows,
corporate travel managers can have some increased flexibility to meet their
travelers' needs without making such a huge dent in their travel budgets,
especially for last-minute and short-duration trips."