Procurement
The average cost for a first-quarter domestic U.S. trip by Travel Leaders Corporate clients dropped for the first time since early 2010,
according to the travel management company. The marginal $1 year-over-year decline in total domestic trip cost to $953—including air, car and hotel costs—resulted from a 2 percent drop in average airfare (the first such reduction since 2011, according to the TMC) and a 3 percent decrease in average daily car rental rate (to $42, "a three-year low") offsetting a 1 percent rise in hotel cost per night. Based on Travel Leaders Corporate data, Miami had the largest first-quarter increase in nightly hotel cost, up 11 percent year over year, followed by Dallas and New York (each 9 percent). "The number of hotel room nights booked by our clients has jumped 21 percent year over year," noted Travel Leaders Corporate president David Holyoke. "Clearly, there is significant demand for business travel."