Business Travel Bookings Fall For Third Month Straight As Firms Respond To Uncertain Conditions

Companies are slashing business travel budgets amid economic uncertainty, trade war risks, and tighter cost controls, according to The Wall Street Journal. Employees are seeing tighter travel restrictions and a renewed emphasis on virtual meetings. Corporate bookings dropped for the third straight month, with U.S. hotel bookings down 4%. Government travel bookings fell by as much as 50%, per United Airlines. Delta Air Lines described the business travel outlook as “choppy” and withdrew its financial guidance. Hyatt Hotels reported a recent drop in U.S. corporate bookings. An April survey found that 13% of international corporate travel managers reported canceling U.S.-based meetings since January.