Uncertainty significantly reduces advance bookings

The advance booking of reservations has been significantly reduced due to the uncertainty of the pandemic. In the case of hotels, it has gone from 10 days before the crisis to just 5, while for flights the evolution is from 14 days to 8, according to a study conducted by Bizaway with data from 2020. The highest number of business trips took place in June, coinciding with the reopening of borders.

The business travel industrybegins 2021 with uncertaintyabout the evolution of the pandemic and its new variants, but with the hope that an effective distribution of the vaccine, advances in its treatment and a positive outcome that reduces the incidence will contribute to improving the global health situation.

Lógically, during 2020 there was a drástic decline in the number of business trips compared to the previous year, with three key moments: the arrival of the coronavirus in March, with the onset of severe restrictions and a plummeting drop in bookings; a slight recovery in June with the opening of borders; and a further decline at the end of the year following the health aggravation. 

As a trend for 2021, a gradual reactivation of corporate travel is expected with traveler safety and security as the main focus of all industry players and flexibility and last-minute bookings as the solution to uncertainty.

According to the Bizaway study, the trend throughout the year was to opt for flexible bookings in order to be able to cancel them in the event of an emergency caused by the pandemic.

In this sense, users also waited until the last minute to book their hotels or flights. While the average before the health crisis was 10 days between booking and check-in for accommodations and 14 for flights, during 2020 the lead times decreased considerably: 5/6 days (1/2 day less even in the peak months) and 8/9 days

for airplanes.

Thus, the data show that the time to booking half for hotels and 42% for airplanes. 

The CEOs of companies were the top business travelers in 2020, which is in line with the need to continue to close deals and generate business as soon as restrictions were lifted.

The rest of the company's employees

have traveled less than in previous years, with companies prioritizing travel for momentous reasons and postponing others such as training, internal meetings, etc.