Elevated Airfares, Hotel Rates Strain Corporate Travel Budgets

Corporate travel budgets set for 2022 are coming up short as travel demand rises from early-year lows and as costs soar.

TRIPBAM CEO Steve Reynolds during a webcast Tuesday said many companies set budgets late last year or early this year “right in the middle of omicron.” At the time, demand was at a low tide, and a wave of price spikes had yet to wash over the market.