Corporate Travel Managers Expect Spending to Increase
Skift Take
Deloitte's 2024 Corporate Travel Report indicates rising corporate travel spending driven by increased prices and trip frequency, with significant growth expected through live events and client-related travel, alongside efforts in cost mitigation and sustainability progress.
The DJIA plunged 533 points, Nasdaq was down 126, the S&P 500 fell 44 points and the 10-year treasury yield was up .04 to 4.19%. Lodging stocks were lower. SOND was down -8% while BHR, VCSA, CLDT and HST were each down -5% on the day.
Hyatt Hotels Corporation is in advanced talks to acquire boutique hotel operator Standard International. Hyatt’s only comment to Bloomberg was that they remain committed to asset-light growth through both organic growth and strategic acquisitions. Standard International, developed by Andre Balazs, revealed its expansion plans last year, including opening 14 new hotels within the next five years. Currently, the company includes a collection of hotels in locations such as London, Ibiza, the Maldives, and Melbourne, among others.
According to Deloitte’s 2024 Corporate Travel Report, 73% of travel ma
