Airbnb recently made the push toward corporate business travel, with specific business-travel ready hosts.
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Globally, business travel spending in 2016 was near $1.3 trillion, according to the Global Business Travel Association.
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"There are 40 steps that we mapped out that happened during business travel, and a big big portion around the clunkiness, about business travel is actually around business travel payments," he told Business Insider.
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Global business travel spending is expected to reach $1.6 trillion by 2020, according to the Global Business Travel Association.
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The Global Business Travel Association's 2628,28503-plus members manage more than $22019 billion of global business travel and meetings expenditures annually.
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Trump's immigration ban cost business-travel industry $185M: report: President Trump's immigration ban -- which was put on hold after one week -- may have cost $185 million in business-travel bookings, according to a new report from the Global Business Travel Association (GBTA).
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Earlier Wednesday, the Global Business Travel Association said the coronavirus epidemic stood to wipe out more than $820 billion in spending on global business travel.
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In 2016 global business travel spend increased 3.5 percent and approached nearly $1.3 trillion, according to the latest report from the Global Business Travel Association.
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Airbnb is aggressively tapping into the business travel market and recently integrated with major management systems, such as American Express Global Business Travel and BCD Travel.
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Despite companies' concern, Business Travel Newsreports that Zika hasn't put much of a dent in business travel so far, although corporate travellers' alert level has been heightened.
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Now, according to data from the Global Business Travel Association (GBTA) China has overtaken the United States to become the world's largest business-travel market, though just about.
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But a survey by the Global Business Travel Association (GBTA) indicated business travel, an important source of income for hotels and airlines, could suffer due to the ban.
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Overall airfares in Asia are expected to rise in 2018, by 2.8 percent according to the Global Business Travel Association, as stronger economic growth drives demand for business travel.
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According to the Global Business Travel Association, total spending on business travel in the United States reached $292.3 billion in 113, a 3.1 percent increase from the year before.
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Uber's global head of enterprise, Travis Bogard, told CNBC that it's going all-in on business travel, a market worth $1.25 trillion globally according to the Global Business Travel Association.
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"Increasingly, business travel is a major use case [for Lyft], and most business travel starts and ends with an airport ride," David Baga, chief business officer at Lyft, told Refinery29.
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TripActions and other smaller corporate travel companies face tough competition from growing corporate travel giants that dominate company business travel such as Carlson Wagonlit and American Express Global Business Travel.
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The Global Business Travel Association (GBTA), which represents corporate travel managers, found that business travel transactions in America declined by 3.4% over the course of one week following the president's order.
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Airbnb is partnering with three travel management companies — American Express Global Business Travel, BCD Travel and Carlson Wagonlit Travel — to grow business travel on the platform and gain market share from hotels.
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Airbnb is actively cultivating this clientele, having recently reached agreements with three big business travel management companies in the United States: American Express Global Business Travel, BCD Travel and Carlson Wagonlit Travel.
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Worldwide, business travel spending reached $22016 trillion in 2016 and is estimated to grow by 6.1 percent in 2018 and 7 percent in 2019 and 2020, according to the Global Business Travel Association.
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President Trump's immigration ban — which was put on hold after one week — may have cost $185 million in business-travel bookings, according to a new report from the Global Business Travel Association (GBTA).
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As Chinese business travel rises and then moderates in the coming years it will be markets like India that will increase their own international presence, making for an increasingly diversified business-travel community.
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Trade has declined, cutting into business travel between the countries.
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Airbnb is a small but growing part of business travel.
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Another tricky situation arises when mixing vacation with business travel.
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The Post has already canceled nonessential business travel through March.
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On its side is the growth in business travel spending.
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None of the initiatives apply to trade and business travel.
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"A healthy business travel market is a key driver of a strong economy, and year over year we are seeing a sharp increase in our business travel data," said Robert Neveu, CEO of Certify.
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Since there's no law against excessive business travel, an employee would need to show proof in the courtroom of the negative effects of excessive business travel, which could then lead to a law against it.
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Uber's focus on business travel could eventually prove lucrative as well.
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Airbnb's business travel unit, Airbnb for Work, also had quick success.
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Indeed, 700,000 companies have used the service to plan business travel.
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Moreover, business travel is also increasing as hiring continues to improve.
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Business travel always takes a toll on my eating/drinking habits.
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Yet there are differences between the sexes' approach to business travel.
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Another CWT study suggests that women find business travel more stressful.
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China's growth in business-travel spending should come as little surprise.
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Of course, business travel is not the same as health care.
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Business travel is only growing, especially as business gets increasingly globalized.
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This is only a small fraction of the business travel puzzle.
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Lyft's tough challenge: Uber has a growing share of business travel.
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It has paralyzed cities and towns, disrupted business, travel and schools.
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Facebook is banning non-essential business travel for its 45,000 employees.
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We launched our L.G.B.T.Q. business travel guide to address that gap.
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Business travel spending in the U.S. last year increased 3 percent to $292 billion, and will likely expand around 4 percent over the next five years, according to the Global Business Travel Association, an industry group.
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Companies ban business travel as outbreak escalates Big European companies have started to ban or restrict business travel for hundreds of thousands of employees as the coronavirus outbreak accelerates, my CNN Business colleague Hanna Ziady reports.
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While Target Global general partner, Shmuel Chafets, describes TravelPerk as "very well positioned to be a market leader in the business travel space with a product that makes business travel as seamless and easy as personal travel".
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November 2, 2017: S.504 - Asia-Pacific Economic Cooperation Business Travel Cards Act of 2017 This law outlines authorizes Customs and Border Patrol to issue Asia-Pacific Economic Cooperation Business Travel Card (ABT Card) to eligible individuals.
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According to the US Travel Association, domestic and international business travelers in the US spent $327.3 billion in 2018, and the Global Business Travel Association predicts that global business travel spending will reach $1.7 trillion by 2022.
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It reckons that a net $185m in business travel bookings was lost.
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Business travel should be perceived as a company benefit — not a liability.
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Delta executives also challenged forecasts that business travel was in a slump.
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Most said they couldn't estimate the money not spent on business travel.
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Yeah, I wish you would give me some good business travel tips.
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WestJet does not break out revenues for premium economy or business travel.
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Car rental receipts fell to 28 percent of the business travel category.
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In that same study, project-based business travel spending reached $45.4 billion.
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Goldman Sachs, Morgan Stanley and Salesforce have all restricted nonessential business travel.
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"There's such an enormous amount of inefficiency in business travel," he said.
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Amazon said it&aposs making some exceptions for approved, essential business travel.
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The lender had restricted business travel to Italy earlier in this week.
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The lender had restricted business travel to Italy earlier in this week.
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"We think there are very good prospects for Airbnb in business travel and France is definitely a market we are looking at," Jon Liebtag, Airbnb's head of business travel for EMEA told Reuters, mentioning Germany and Britain too.
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The new Rules of the Road asks stakeholders in the business travel community and policy makers on Capitol Hill to take significant steps to optimize the global business travel infrastructure—making it safer, more secure and more productive.
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We look forward to when the strength of the global economy and business travel inevitably return and we can hire back our colleagues to rejoin us in our mission to make business travel effortless for our customers and users.
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Another study, this time looking specifically at business travel, backs up these findings.
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The shipments must fall during business travel periods of 72 hours or longer.
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Uncertainty surrounding Britain's EU vote on June 23 had also reduced business travel.
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Raja said the company is eyeing strong business travel from Texas to Israel.
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He believes there is an opportunity to build better software for business travel.
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But lots of business travel depends on such short-hop, one-day fares.
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Airbnb has yet to make any real impact on the business travel market.
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The administrator has also faced criticism for flying luxury class during business travel.
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"Things are merging and changing in the world of business travel," he said.
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Fiat Chrysler previously had delayed all business travel to China until further notice.
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The slowdown in lucrative business travel is hurting the airline and hotel industry.
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A woman's queerness while on business travel heightens the threat of this danger.
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The Global Business Travel Association (GBTA) noted recently that one poll they conducted showed 47 percent of European business travel professionals expected some sort of reduction of travel to the U.S. for their companies in the wake of the ban.
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One comes from the Global Business Travel Association (GBTA), which represents corporate travel managers.
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Uber's push into the business travel segment is still in early stages, Bogard said.
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Delta said both leisure and business-travel demand was "healthy" in the fourth quarter.
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He also receives $1.6 million in security-related services and business travel each year.
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ONE of the not-so-secret perks of business travel is frequent-flyer points.
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Here are a few of the best ways to lower your business travel expenses.
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Companies including Royal Dutch Shell and Phillips 66 have limited business travel to China.
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Then, when you search, you can toggle "Business Travel Ready" in the filter menu.
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One of the small perks of business travel is skipping meal prep and planning.
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Indeed, some parts of business travel — like food — have proven more difficult to disrupt.
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In fact it is here that Chinese business travel is taking up the slack.
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Road warriors should be inured to the peaks and troughs that business travel brings.
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However, the airport protest has had a direct impact on business travel and tourism.
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According to the company, 500,000 companies use the service to plan their business travel.
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Rather than dissuade it with excessive taxes and fees, governments should promote business travel.
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The collapse of business travel spending on taxis and rental cars is just stunning.
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The state immediately suspended all international business travel for state employees, Ms. Oliver said.
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US agricultural company Cargill also said it has banned all non-essential business travel.
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The company plans to roll this out globally in top cities for business travel.
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Shares in British business travel company Hogg Robinson shot up nearly 49 percent, leading the small-cap index, after saying it got a takeover offer from American Express's global business travel unit and had agreed to sell its payments technology business to Visa.
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Some 37 percent of U.S. business travel professionals said they expect a reduction in their company's travel because of Trump's revised executive order, while 17 percent of European travel professionals said their company has already cancelled business travel to the United States.
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Growth in international travel—particularly business travel—is closely linked to growth in the economy.
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Shell has restricted non-essential business travel to mainland China, Hong Kong, Macau and Taiwan.
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That might encourage firms, conscious of their carbon footprint, to cut back on business travel.
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Some 48 percent of bookings at hotels in France are for business travel in France.
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For some, business travel is becoming less of a commute, and more of a commune.
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Finally, renewal of the APEC Business Travel Card (ABTC) must also be a top priority.
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Caruthers is part of a growing number of people considering Airbnb when booking business travel.
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Hampole told Business Insider that Lyric's coffee tables turned into desks for business-travel clientele.
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It's meant to look good, feel good, and pose no additional stressors to business travel.
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Sharp drop in business travel The falloff in travel has expanded beyond the Chinese market.
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Companies with a presence in the country are also halting business travel as a precaution.
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Nearly four in 10 executives said the travel ban would curtail their company's business travel.
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F5 is asking employees to work from home and to stop any nonessential business travel.
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Airbnb is also trying to make business travel convenient for companies, including tracking employee expenditures.
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Shares in British business travel company Hogg Robinson shot up 49 percent, leading the small-cap index by far after saying it had received a takeover offer from American Express's global business travel unit, and had agreed to sell its payments technology business to Visa.
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First, younger worker are probably more likely to still see business travel as exotic and exciting.
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You'll even get a crash course on the best way to conduct business travel in China.
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For all its leisure appeal, San Francisco is a business travel town, hotel occupancy figures suggest.
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Last week, Xiaozhu, dubbed "China's Airbnb", announced its own class of rentals suitable for business travel.
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Policies suspending business travel to cluster areas for the coronavirus have been implemented by numerous businesses.
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So it's really a new category of business travel agencies that we are trying to create.
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Kirtane told TechCrunch in an interview that 90 percent of business travel in Asia is unmanaged.
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That amounts to an estimated $185 million loss for the business-travel industry, the report says.
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Common business-travel destinations, such as Frankfurt, often see prices for accommodation drop over the weekends.
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"We've really broadened the way that we think about B2B beyond just business travel," Gurion said.
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Above all, business travel professionals deserve safe and secure means of passage from start to finish.
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This approach discourages business travel and thus ultimately reduces economic activity – a negative outcome for everyone.
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It's no secret that remote work and frequent business travel are becoming more and more commonplace.
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Over the weekend, Twitter said it would be suspending all "non-critical" business travel and events.
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Already, public health, business, travel, and even the entertainment industry have felt the outbreak's ripple effects.
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You still will have a tonne of business travel when we come back out of it.
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Like other U.S. banks Wells Fargo had earlier this week implemented restrictions on international business travel.
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The group estimates that up to 37% of business travel is at risk of being lost.
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Those restrictions won&apost apply to essential business travel pre-approved by the company, Amazon said.
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While there are signs of an economic slowdown in India, business travel to India remains strong.
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The Global Business Travel Association warned Thursday that the virus could cost the travel industry close to $560 billion this year in revenue, a third of the 2020 forecast business travel spending as trips to Europe, Asia and elsewhere are called off because of the virus.
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The latest research to bear this out was released this week by the Global Business Travel Association.
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If terrorists have another successful year in 2017, business travel will have become a more dangerous endeavour.
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If employees share photos of their business travel online, sensitive information can be gained, according to Hadnagy.
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Barcelona based TravelPerk, a business travel booking platform founded last year by a team of ex-Booking.
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It seems like everyone is unhappy with the way they are currently booking and managing business travel.
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That's surprising since the region accounts for 40 percent of the $1.2 trillion global business travel market.
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MOST people agree that the glamour of regular business travel is not what it used to be.
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In addition, Cohen "asked a senior campaign official about potential business travel to Russia," according to prosecutors.
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It seems as if the business-travel bookers' concerns have been laid to rest on two scores.
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According to the company, business travel on its site has grown by three times since last July.
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Michael W. McCormick is the Executive Director and Chief Operating Officer of the Global Business Travel Association.
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Its 9,000-plus members manage more than $345 billion of global business travel and meetings expenditures annually.
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Australian carrier Qantas completed its first "zero-waste" commercial flight in May, Buying Business Travel (BBT) reported.
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But let's face it: Now that it's summer, business travel is the last thing on our minds.
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And Twitter said in a blog post on Sunday that it would restrict all nonessential business travel.
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Goldman Sachs, CNN and Twitter have restricted or halted business travel in the United States and elsewhere.
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On Sunday, Twitter said it would also limit all nonessential business travel for its employees and partners.
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Major corporations have suspended nonessential business travel, and large conferences and events have been cancelled or postponed.
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It has paralyzed cities and villages throughout China and upended business, travel and schools around the globe.
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Goldman Sachs told staff that all non-essential business travel should be postponed, Reuters reported on Monday.
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Hawaii Primely situated between the United States and Japan, Hawaii is a top international business travel destination.
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New York (CNN Business)Travel website Kayak will soon allow travelers to filter trips by aircraft model.
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Airfares will rise by a modest 2.33% and hotel rates by 1.3% in U.S. dollar terms and an average of about 2.2% for both in local currencies, said the annual business travel forecast from Carlson Wagonlit Travel (CWT) and the Global Business Travel Association (GBTA) released on Wednesday.
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Bosses may be reluctant to let you handle money on projects, or give you fewer business travel opportunities.
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TOTAL SA: Total announced it suspended business travel to China, Hong Kong and Taiwan due to coronavirus outbreak.
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Rocketrip believes you can motivate employees to spend less on business travel by rewarding them with gift cards.
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They will transform cities and business travel, and will hit some other industries hard on the way too.
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Certify, an expense-management software company, has released its latest quarterly report on business-travel spending in America.
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American Express Global Business Travel is partnering with Airbnb to add home-sharing accommodations to corporate travel programs.
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The research by Egencia, Expedia's business-travel arm, questioned nearly 5,000 business travellers in Europe, America and Australia.
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"Business travel volumes have picked up significantly post-election," Delta President Glen Hauenstein said in an investor webcast.
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Approved uses of funds were restricted to non-investment uses including tourism, schooling, business travel, and medical care.
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"It's particularly good for business travel if you are doing a week or longer business trip," Blecharczyk said.
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But some commentators feel that business travel itself should adopt the type of functionality that the game showcases.
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Recent research by Oxford Economics suggests, unsurprisingly, that there is a strong link between business travel and commerce.
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As for business travel, FOMOs can't wait to experience the delight of overseas conferences and visiting new places.
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Business travel is here to stay and will only increase due to the business world becoming more globalized.
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Business travel has also been banned by many large companies to help reduce the spread of the virus.
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Offices are empty, people are dialing into meetings from their couches, and business travel has largely been suspended.
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But all of their visas to come to the US for business travel were rejected. Every. Single. One.
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After that, everyone can generate virtual cards for online payments and get a physical card for business travel.
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Additionally, the document show's Pruitt plans to highlight that he has begun flying coach class for business travel.
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And the expedited security lanes can grow longer than the regular line, especially during peak business travel times.
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Ford is restricting all international and domestic business travel until March 27, a company spokesman told Business Insider.
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The hotel industry, in general, is feeling the impact of slowing global growth, which is denting business travel.
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SOUTHWEST EXEC SAYS DEMAND REMAINS SOLID FOR BOTH LEISURE AND BUSINESS TRAVEL, PRICING ALSO REMAINS 'STEADY AND STRONG'
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Business travel has also been hit by the crisis, with firms moving meetings to elsewhere in Southeast Asia.
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On weekdays this year in business travel markets, Dr. Hanson said, he expected occupancy percentages in the 1403s.
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According to the Global Business Travel Association, cited by TravelPerk, 50% of business travel happens outside company policy, often because existing platforms are outdated, can&apost offer the choice or prices of consumer equivalents, and require travel managers to endure multiple sites, emails, and calls to manage a single trip.
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When you combine that with my business travel, people always ask me how I've kept from becoming overweight again.
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But firms offering business-travel insurance will factor in the free treatment available in the EEA when setting premiums.
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Still, the U.S. is losing tourist activity to foreign destinations, and business travel in the U.S. is also suffering.
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It now plans to expand into other bits of the market for accommodation, including luxury trips and business travel.
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London makes up about 35 percent of business travel between the United States and all of Europe, he said.
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In France, business-travel spending was $0003 billion in 2016 and is expected to reach $56.2 billion in 2021.
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Its push into business travel may attract further ire from traditional hotel groups, which see Airbnb as unfair competition.
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That amounts to an estimated $185 million loss for the business-travel industry, the report says: http://bit.ly/2lwgDmV.
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Like Lopez, a man from Seattle was at the Hialeah rally, piggy-backing a volunteer trip on business travel.
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"The framework is the AIRR Act," Woodruff Lyons said during a Global Business Travel Association conference on Capitol Hill.
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Domestic travel, which includes business travel, makes up a majority of the carbon footprints for each of these countries.
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A new report by the business travel expense firm Certify shows Lyft is gaining on both taxis and Uber.
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Eliminating that 85033 percent excise tax means bigger budgets, more business travel and ultimately, more returns for the economy.
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Michael W. McCormick is the Executive Director and COO of the Global Business Travel Association View the discussion thread.
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Global business travel is worth hundreds of billions of dollars, and Airbnb wants a bigger slice of that pie.
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Venture-backed business travel startup Zeus Living laid off 30% of their staff, or almost 80 employees, on Tuesday.
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Fox executives have prohibited "all non-essential business travel" since last Monday, according to a Friday Daily Beast report.
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Michael W. McCormick, executive director and chief operating officer of the Global Business Travel Association, offered a similar prediction.
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Making business travel a little more pleasant is a tactic companies are using for retention as well as recruitment.
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"If you could do that, you could have a plane that was competitive with existing business travel," he says.
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"The observation I have made is that one would think increasing terrorism would put a dampener on business travel, but we have found this to not be the case, business travel is increasing," said Dr. Robert Quigley, senior vice president and regional medical director for International SOS, a medical and travel security company.
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A monthly trip to London might become a once-a-quarter one, worries the Business Travel Coalition, a lobby group.
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Imagine a world where business travel is just as cozy — and convenient — as being at home or in your office.
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Some of these are for strip clubs, in-room movies during business travel or charging gifts at a hotel shop.
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Pana is already booking thousands of trips per month for companies using the service to coordinate business travel for interviewees.
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"This combination means we can do an even better job for frequent travelers, in both their leisure and business travel."
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Mr. Rosencranz (left), 48 is a client management director, in Philadelphia, for the global business travel division of American Express.
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Because global business travel is more complex than ever before, the nation's road warriors deserve this new set of principles.
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"Most business travel health plans are about immunizations, all of the literature is about infection or food borne," Rundle said.
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"We wanted a better way to plan business travel for our own employees," KAYAK CEO Steve Hafner told Business Insider.
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The coronavirus, which has infected more than 300,000 and killed over 13,000 worldwide, has disrupted business, travel and daily life.
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Facebook has banned all non-essential employee business travel globally and moved job interviews to video-conferencing due to coronavirus.
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Bangalore is one of Amazon's top three business-travel markets, said Brett Catlin, Alaska's head of network planning and alliances.
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Even in the United States, which has had few cases, major companies like Twitter and Amazon have curbed business travel.
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A Certify infographic from earlier this year shows this: Lyft keeps chomping into Uber's hold on ride-hailing business travel expenses.
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Britain hopes to make it easier for its professionals to do business in the United States, including by easing business travel.
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Nowadays it offers "business travel ready" listings, for properties that have Wi-Fi, 24-hour check-in and other basic amenities.
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The initiative will first launch in Seattle followed by other "top business travel cities" according to the ride-sharing company's website.
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The Global Business Travel Association survey found that 70% of corporate travel policies do not include home-rental services like Airbnb.
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Marriott also cut its full-year forecast for the key revenue-per-available-room metric, as weakening business travel impacts results.
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Those of us who aren't suited for or are worn down by frequent business travel are just going to stay miserable?
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United Continental – United announced plans to add more premium seats on key business travel routes by retrofitting more than 100 jets.
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United Continental (UAL) announced plans to add more premium seats on key business travel routes by retrofitting more than 100 jets.
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Business travel is already 11 percent of Airbnb's business, according to Blecharczyk, and Airbnb is "just beginning to tap" that market.
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One obvious reason why women think differently about business travel to men is that they are more concerned with their safety.
|
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A report by CWT Solutions Group, a business-travel consultancy, shows just how dominant the company will become in certain markets.
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ONE of the big questions facing the business-travel industry is the extent to which it will embrace the sharing economy.
|
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Some of its listings are now specified as business-travel ready, which requires hosts don't have pets and don't allow smoking.
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A strong economy that has helped fuel both leisure travel demand and more lucrative business travel as so far provided cover.
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How long such bans will last is unclear, according to a poll conducted last week by the Global Business Travel Association.
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Fewer visitors, less business Hong Kong's status as a hub for business travel was already under threat before the protests began.
|
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Companies such as Google, Facebook, and Salesforce have restricted or canceled business travel for their employees in response to the coronavirus.
|
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Google has temporarily halted business travel to mainland China and closed its stores, a company spokesperson told The Verge on Wednesday.
|
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And there may be no industry more poised to take advantage of disruptive millennial trends than the field of business travel.
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At Boston Logan International Airport, a hub of JetBlue Airways and an important airport for business travel, 720 flights were canceled.
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Plus, it's utterly convenient to the Los Angeles Convention Center, Staples Center, and other landmarks of tourism and business travel downtown.
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With business travel it's a lot of people who normally fly first class for business and they're electing to go charter.
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At first glance, those figures appear at odds with a survey released by Certify, which makes software that tracks business-travel expenses.
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But airlines can be particularly sensitive to worries about slowing economies because lucrative business travel spending ebbs and flows with economic growth.
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There is a reason why even with advanced and ubiquitous video conferencing technology, business travel is still a trillion-dollar industry globally.
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For anyone booking business travel between Middle Eastern cities give it a solid decade or two before that trip is fully electric.
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Airbnb already has a similar partnership with Concur — a deal it signed two years ago — to extend its reach into business travel.
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Uber's starting the scheduled rides roll-out in Seattle, "followed by other top business travel cities," according to the company's blog post.
|
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Even if it is still principally for vacationers, Airbnb has seen a surge in business travel use in the past several years.
|
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Uber and other ride-hailing apps still dominate the business-travel market for ground transport, accounting for around two-thirds of it.
|
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Curbside pick-up and drop-off: Ride-hailing services account for 62% of airport transportation for business travel, leading to increased congestion.
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"Amsterdam is also a great mix of leisure and business travel, which is straight down the middle for Kimpton hotels," he said.
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Marriott also cut its full-year forecast for the key REVPAR (revenue per available room) metric, as weakening business travel impacts results.
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Still, amid the confusion, there's a basic consensus forming when it comes to business travel to the areas hardest hit by Zika.
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The fare hikes are being driven by increasing demand, fewer empty seat, as a time when business travel is not slowing down.
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The good news for Lyft posted slightly faster growth in business travel expenses, up 2 percent, than Uber in the first quarter.
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The GBTA estimates that spending on business travel in China amounted to $291.2 billion last year compared with $290.2 billion in America.
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The Business Travel Coalition has estimated that the airlines' nascent rules could drive some fares up by as much as seven times.
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Some professionals in the business travel industry acknowledge the potential benefits of using services like Airbnb, and see some of the drawbacks.
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Gulf carriers such as Emirates and Etihad have come under pressure from overcapacity, security concerns and a drop in regional business travel.
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Ford Motor and Fiat Chrysler have banned all non-essential international and domestic business travel for employees due to the coronavirus outbreak.
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The virus, which has infected more than 90,000 people, has sapped demand as corporations pause lucrative business travel as the illness spreads.
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Bookings have fallen as meetings and conferences around the world have been cancelled, and as major corporations have paused nonessential business travel.
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The coronavirus outbreak, which originated in China, has spread to dozens of countries, prompting large companies to scale back on business travel.
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Twitter has joined a growing list of companies that have suspended business travel and events amid concerns about the spreading coronavirus outbreak.
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But the virus is already affecting pockets of business, travel and life in unexpected ways in China, where it originated, and beyond.
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It markets results to corporate travel managers and others including CWT, formerly Carlson WagonLit Travel, a business travel management company in Minneapolis.
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Along with news of rising fatalities, investors learned that more US companies were revising their 2020 earnings outlooks and restricting business travel.
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When you're no longer covered by an expense account, though, you'll find that many business travel destinations are far from cost-effective.
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A few examples: Earlier this year, Eric Trump's business travel to Uruguay cost the Secret Service nearly $100,000 just for hotel rooms.
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The spread of the virus has roiled travel to China and elsewhere, driving down business travel and attendance at high-profile events.
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Everything from business travel to daily commutes; from rides to company events and food delivery; and from caregiver and patient transportation to freight.
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Listeners will hear real-life stories about everything from preparing for business travel to pumping in the workplace, from moms who've been there.
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BUSINESS travel accounts for about a third of total travel spending in America, according to the United States Travel Association, an industry group.
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Business travel can be an essential part of running a business, but it can also be a significant drag on the bottom line.
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Waze Carpool riders are charged a maximum rate of 54 cents per mile, the current IRS reimbursement rate for business travel by car.
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The human and economic damage is extensive, but Harvey has had repercussions in a wide variety of less critical areas, including business travel.
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She got her start in the industry as an analyst for IDC, before joining SAP and leading product for its business travel solution.
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Business travel is growing faster than leisure travel and corporate customers now account for some 248 percent of rental nights booked on Airbnb.
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Airbnb is calling it "business travel booking," and it's designed for companies that have travel managers who book hotels on behalf of others.
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The Global Business Travel Association (GBTA) has mobilized its members to develop a declaration of travel reform called the Rules of the Road.
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Court filings unsealed in November state that Cohen "asked a senior campaign official about potential business travel to Russia" during the 2016 campaign.
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German business travel association VDR said the new U.S. policy was damaging for business and harmed the image of the United States abroad.
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The feature is being launched today in Seattle and will be rolled out in other top business-travel cities in the coming months.
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The storm struck when many travelers were making their way home from end-of-year holidays and 2018 business travel was getting going.
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Meanwhile, companies are canceling conferences and business travel at a level not seen since the days after 9/11, according to industry experts.
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Mr. Rodriguez, 20053, works in New York as a manager at Amex Global Business Travel, a travel management company based in Jersey City.
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Mr. Rodriguez, 55, works in New York as a manager at Amex Global Business Travel, a travel management company based in Jersey City.
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Until several years ago, owners of private aircraft using planes for personal or business travel were free from this so-called ticket tax.
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Schools are closing, businesses are encouraging their employees to work remotely if they can and nearly everyone is canceling non-essential business travel.
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The financial statement said the travel emissions were higher "due to higher usage of chartered large fixed wing aircraft for foreign business travel."
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Both Ford and Fiat Chrysler this week confirmed restricting all nonessential international and domestic business travel for employees because of the coronavirus outbreak.
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Before Homage, Tee, its CEO, worked in the United States, where she co-founded Rocketrip, a business travel startup backed by Y Combinator.
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The company temporarily closed down its facility in Stockdorf, Germany, and cancelled business travel to China for at least the next two weeks.
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After spending a week in a hotel room at the convention in Las Vegas, the crew shares their favorite tips for business travel.
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Along the way, Airbnb gradually introduced additional products and services, expanding into new territory like business travel and entering markets across the globe.
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Corner Office This interview with Dan Ruch, chief executive of Rocketrip, a business travel software company, has been edited for space and clarity.
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Frequent business travel can lower your resistance, but there are some very easy ways to keep from getting sick when away from home.
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Before the bans on devices took effect, some gulf carriers had taken steps to try to mitigate any falloff in business travel bookings.
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If a 3.4% decline sounds small, consider the group's assertion that a 1% drop in business travel over the course of a year correlates with a loss of 71,000 American jobs and close to $5bn in gross domestic product (although the extent to which waning business travel helps to cause economic woes, rather than just reflecting them, can be difficult to unpick).
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According to Concur, the top three cities for Airbnb business travel, in terms of the amount expensed, are San Francisco, London and New York.
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The targeting of foreigners has unsettled the country's $26 billion garment export industry, with some foreign retailers suspending all business travel to the country.
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But after conversations with potential customers about their pain-points, the team quickly pivoted to target a broader bundle of business travel booking problems.
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They created the first business travel service that both companies and their users love, which may be why their business is doubling each month.
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The same survey also noted that 17 percent of the group's European corporate travel managers had cancelled business travel plans for the same reason.
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Such statistics detailing the environmental toll wrought by jet setting, or even just business travel, are the stuff of a new web site, Shameplane.
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Each of the plaintiffs had their devices searched while returning to the U.S. from personal or business travel, including from Canada, UAE, and Chile.
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And it has drawn Iranian charges that the U.S. is violating last summer's nuclear accord by penalizing legitimate business travel to the Islamic Republic.
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Federal investigators accused Infosys of using easier-to-obtain business travel visas to import foreign workers who were required to have H-224B visas.
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Price resigned Friday, one day after pledging to cover the cost of his seat on private planes -- roughly $52,000 -- he used for business travel.
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"One of the reasons we re-launched flights between Sydney and San Francisco was to support growing business travel driven by the tech boom."
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Emirates in May reported its first annual profit drop in five years due to overcapacity, security concerns and a fall in regional business travel.
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Airbnb's long-term ambitions include building an end-to-end travel platform, complete with home sharing, hotel booking, business travel arrangements, experiences and more.
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Emirates in May posted its first annual profit drop in five years due to overcapacity, security concerns and a fall in regional business travel.
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The last major announcement pertains to Airbnb's business-travel booking service, which will soon allow employees to book stays on behalf of other employees.
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In 2016, companies in the U.S. sent their employees on more than 500 million domestic flights, according to the The Global Business Travel Association.
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You'll get 12x points per dollar spent at Hilton properties, 6x points on select business travel and purchases, and 3x points on everything else.
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Twitter was the first big company to pull out of the event, citing its new policy restricting all business travel because of the virus.
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A plane trip that includes layovers might save money, said Andrew Sheivachman, business travel editor at Skift, a travel industry news and research site.
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Passenger numbers have plummeted as business travel has practically ended, vacations have been postponed, and parts of the country have been placed on lockdown.
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Zeus Living, an Airbnb-backed business travel startup, just laid off workers as the coronavirus upends hospitality and real estate, Business Insider has learned.
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Now, it's fresh-feeling and utterly convenient to the Los Angeles Convention Center, Staples Center, and other landmarks of tourism and business travel downtown.
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Airline stocks fell more sharply than the broader market as corporations pulled back on business travel raising concerns about a broader slowdown in demand.
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The new product, called TripActions Liquid, allows businesses to set up a travel expense account on the TripActions platform to seamlessly manage business travel.
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Whatever brings you to the theme parks — your honeymoon, nostalgia, business travel, unfulfilled childhood fantasies — there's plenty of grown-up fun to be had.
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After all, allowing time off after business travel can help relieve stress and can be an attractive perk that helps retain talent, he says.
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That includes communicating more regularly with employees (68%), adopting new health and safety procedures (67%), cancelling major events (64%) and halting business travel (53%).
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A Certify report from last year comparing the two ride-hailing companies' business travel use found Uber dominated with 56 percent of ground transportation overall.
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Given that all three cities, to a greater or lesser extent, are trying to clip Airbnb's wings, what effect will that have on business travel?
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Let's see if and how they actually develop before assessing whether the future of business travel and the allure of cities will be fundamentally altered.
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According to a survey from the Global Business Travel Association, 70% of corporate travel policies do not explicitly allow employees to use home-rental services.
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For years, Panasonic's engineers and designers have been on a mission to make business travel — and travel in general — the best it can possibly be.
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Waze Carpool riders are charged a maximum rate of 54 cents per mile, which is the current IRS reimbursement rate for business travel by car.
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Domestic travel is expected to grow by 1.4 percent in 2020 and leisure travel will grow faster than business travel within the U.S., Dow said.
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The idea of Airbnb for Work also taps into the trend of "consumerization" and how it has played out in the world of business travel.
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The bulk of my business travel is outside the US, so having a business credit card that doesn't charge foreign fees is crucial for me.
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Suffice to say, investments in business travel, such as additional efficiencies and savings in airline ticket prices, have a positive effect for our nation's economy.
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Documents and sources indicate that Faraday Grid's CEO borrowed money from the firm to renovate his house, and spent lavishly on business travel and hotels.
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Twitter (TWTR) was the first big company to pull out of the event, citing its new policy restricting all business travel because of the virus.
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Facebook's ban on non-essential business travel applies across all its offices for all 45,000-odd employees, as well as domestically within the United States.
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Airlines have cut flights to severely affected countries like Italy, South Korea, and China, while companies are cancelling conferences and scaling back on business travel.
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News Corp has halted nonessential business travel for its employees as of yesterday due to concerns over the coronavirus outbreak, a spokesperson confirmed to CNBC.
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London (CNN Business)Big European companies have started to ban or restrict business travel for hundreds of thousands of employees as the coronavirus outbreak accelerates.
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Tourism receipts fell 6.8 percent to S$22 billion ($13 billion), hurt by fewer visitors for business travel and meetings, incentives, conventions and exhibition (BTMICE).
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Ian Burman says, to ask Ray about business travel tips for working out, device tracker, algorithm, assumptions, and relevancy under-the-radar fit-tech startups.
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Enlightened by the book, we recognized that, for one whose life was filled with business travel, death was a final journey for which Dad was preparing.
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China is planning hundreds of airports across the country to serve a market boosted by rising business travel and tourism fueled by a growing middle class.
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"Friday and Saturday are traditional weekend leisure travel nights, and Monday, Tuesday, Wednesday and Thursday are business travel," Sam Shank, the chief executive of HotelTonight, said.
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The comments follow a plea from the Global Business Travel Association, a trade group representing travel managers, not to allow mobile-phone conversations in the air.
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"Business travel management systems are either something employees hate or CFOs hate," Meir said in an interview, adding that the company aims to simplify corporate travel.
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Travelstop is a new startup in Singapore that aims to bring the benefits of business travel management to SMEs and other smaller companies in Southeast Asia.
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"We can offer big open areas for collaborations, while still giving employees their own private space," said David Holyoke, global head of business travel at Airbnb.
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Research from Oxford Economics, a forecasting outfit, found that in Britain a 1% increase in business travel is associated with a £400m ($518m) boost to trade.
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As Airbnb adds more features to court business users, a smaller startup has raised some funding to challenge it in the $2130 billion business travel market.
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According to the Washington DC-based Global Business Travel Association, around 49 percent of business travelers prefer to stay connected and get work done while flying.
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As the pair began to scope out the startup's product, Figge says it became more evident how underserved business travel is within the apartment rental market.
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This mode of transport is an important component of the European business travel market, where rail infrastructure is dense, highly developed and often very high-speed.
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The U.S. industry, however, has been preparing for a business travel boom in the wake of a U.S. tax overhaul that sharply reduced corporate income taxes.
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On July 12th, the firm announced partnerships with three of the world's biggest corporate-travel bookers (American Express Global Business Travel, BCD and Carlson Wagonlit Travel).
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The percentage of business travel receipts for Lyft rides in the third quarter climbed 3 percent, the biggest quarterly increase since Certify began tracking expense reports.
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You can transfer them to more than 10 airline partners or you can use miles to "wipe" your business' travel expenses from your credit card statement.
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Like fellow Gulf carriers Emirates and Qatar Airways, it has had to battle overcapacity, security concerns and a drop in regional business travel in recent years.
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Air France KLM said in a statement that the alliance would give it a European leadership position in Shanghai, the main business travel market in China.
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Several have stepped up their restrictions in recent days with Goldman Sachs, JPMorgan and Deutsche Bank among those to stop all non-essential international business travel.
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The business travel industry was often ignoring the risks of sending L.G.B.T.Q. employees and contractors into countries that criminalize them without any warning, advice or resources.
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Several have stepped up their restrictions in recent days with Goldman Sachs, JPMorgan and Deutsche Bank among those to stop all non-essential international business travel.
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The world's travel industry has become troubled in light of the spread of COVID-19, the resulting border closures and reduction in personal and business travel.
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As companies restrict business travel, cancel giant conferences and warn of missing their business targets, the economic impact of the coronavirus is expected to be harsh.
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While the 24 flights are a relatively small dent in the daily flight volume for the route, they signify a reduced demand for international business travel.
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Microsoft, according to an email reviewed by Business Insider, has stopped short of pausing business travel but asked employees to discuss any travel concerns with management.
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It&aposs one of the top-reviewed hotels on Trip Advisor, and a favorite for couples, honeymoons, business travel, and families seeking a high-end stay.
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Some of its challenges, like reducing emissions from business travel when there are no good carbon-free alternatives for most air travel, will also seem familiar.
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A Microsoft spokesperson confirmed to CNBC that the company is advising its employee to work from home and cancel all non-essential business travel until Feb.
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Airlines know, for example, that certain itineraries suggest business travel, and that last-minute fliers are willing to pay more than people planning months in advance.
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The Global Business Travel Association, a trade group for corporate travel managers, suggests using a privacy filter on your laptop and tablet screen when you're traveling.
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The idea of a "Trump Slump" is evident in reports like those released by the Global Business Travel Association, which shows $185 million in lost US bookings.
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JetBlue may add service to London but its plans could include other routes to European cities from its New York and Boston hubs, important business travel markets.
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Michael McCormick, executive director and chief operating officer, at GBTA reckoned there was a perception that the U.S. was no longer a welcoming destination for business travel.
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Using industry data, the GBTA compared business-travel transaction levels in the week before and the week after Trump signed the executive order on immigration and refugees.
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The fact I can charge our business travel purchases to this card and earn 3x points has kept it at the front of my wallet for years.
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He quizzed Faraday Grid's newly hired C-suite about its finances, and this shed light on Scobie's loans, the seemingly undisciplined spending on expansion, and business travel.
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I redeem my World of Hyatt points for most of my personal and business travel, so I only pay for rooms when my client will reimburse me.
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Unlike bitcoin, which anyone with an internet connection can use, Ven is the in-house currency of a kind of international business travel club called Hub Culture.
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Chicago is a particularly strong market for business travel, he said, and the airline's frequent fliers in New York have long wanted the shuttle to fly there.
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United Airlines tumbled 27% after saying it had borrowed $2684.63 billion to cope with the unprecedented disruption to the industry from sweeping business travel and holiday cancellations.
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United Airlines tumbled 27% after saying it had borrowed $2684.63 billion to cope with the unprecedented disruption to the industry from sweeping business travel and holiday cancellations.
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While travel for the holidays may bounce back, industries relying on revenue from business travel may struggle in a world where remote work has proven itself effective.
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On the personnel front, eBay is also nixing non-essential cross-border business travel, much like retail giant Walmart and Silicon Valley power players Google and Apple.
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Businesses already struggling worry that even more people will stay home and that tourism and business travel to the territory will slow further, making the situation worse.
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Yet many companies, including Apple and Facebook, stopped short of a complete employee travel ban, allowing so-called "essential" business travel to and from China for now.
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Private-equity fundraising sources told Business Insider that January and February have been marked by cancellations and delays in international business travel by execs with funds overseas.
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The report noted that business travel growth also rebounded following a "lackluster performance" in April, which was attributed to the timing of Easter and Passover this year.
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And there is Kristin Sievert, 27, a business travel sales coordinator and family ambassador at the Plaza, which also means that she is the hotel's Eloise expert.
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The airline industry has been among the hardest-hit industries amid the rapid spread of COVID-2000, as consumers stay home, scrapping vacations and lucrative business travel.
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"When there's a downturn, you have less shipping and you have less business travel, and FleetCor's payment network is just going to have incrementally less activity," he said.
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The Barcelona-based SaaS startup has been on a mission to make booking business travel suck less since 2015 — bagging around $133 million in VC in the process.
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America, meanwhile, had to deal with mammoth security lines at airports and Asian travellers had to contend with a slowdown in China, the world's biggest business-travel market.
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Travel operator Flight Centre Travel Group Ltd gained 2.8 pct to a nine-month high, aided by news it was buying Netherlands-based travel agency Business Travel Development.
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Like fellow multibillion-dollar Bay Area-based unicorn Uber, Airbnb recognizes the value of the business travel market and the company is working hard to grow its share.
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NEW YORK, Feb 5 (Reuters) - U.S. oil refiner Phillips 66 has suspended business travel to China due to the coronavirus outbreak, a spokesman for the company said Wednesday.
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NEW YORK, Feb 5 (Reuters) - Royal Dutch Shell has banned business travel to and from China's Hubei province due to the coronavirus, the company said in a statement.
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On a growth tear, work trip SaaS TravelPerk adds $60M to its Series C TravelPerk now has more than 2,000 customers for its business travel booking platform. 5.
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Airbnb has launched "Business Travel Ready", through which users can select accommodation which fulfill requirements such as Wi-Fi, 24-hour check-in and a laptop-ready workspace.
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So we're not saving the world… but in our little niche of business travel, which is still like $1.3 trillion per year, we are definitely making a dent.
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Alipay and Uber China first partnered to cover domestic rides in 2014, but now the duo is tapping into the huge market for Chinese tourism and business travel.
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McPherson said business travel bookings were doing better than expected right now, with January and February being ahead of budget and she expected the good momentum to continue.
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As most economists agree that the economy would suffer as a result of Brexit, it is also reasonable to assume that demand for business travel would fall too.
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Take, for instance, Kevin Mitchell, chairman of Business Travel Coalition, an advocacy organization that ran a search for a domestic trip and found a whopping $1,200 coach fare.
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Air France-KLM CEO Jean-Marc Janaillac said low-cost carriers would have a hard time on transatlantic routes unless they also offer an attractive business travel service.
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And in 16 years of work and business travel, I've never had an employer mention my safety calculation based on my identity as a woman or a lesbian.
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Stronger business travel in 2018 will likely mean higher profits for hotels, airlines and car rental providers, but online travel company Expedia won't be in on the windfall.
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Several have stepped up their restrictions in recent days with Goldman Sachs, JPMorgan Chase & Co and Deutsche Bank among those to stop all non-essential international business travel.
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As more corporations impose restrictions on nonessential business travel and the public stays put, conferences, hotels and others are grappling with how to contend with escalating coronavirus fears.
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Uber's growth in the business travel ground transportation market has continued despite its constant drumbeat of intricate debacles in the news, but the rate of growth has slowed.
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So far, about 1,000 travelers have answered the questionnaire on what is important to them in their business travel, and how their employer is delivering on those areas.
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These developing countries are expected to face "sharp declines" in demand, tourism, business travel, trade and production in addition to health effects as a result of the coronavirus.
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And, unexpectedly, the world's travel industry has become troubled in light of the spread of COVID-19, the resulting border closures and reduction in personal and business travel.
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Twitter had previously banned "non-critical" business travel, which included the cancellation of CEO Jack Dorsey's appearance at the South By Southwest conference in Austin later this month.
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So the coronavirus will still likely have global economic effects, and it's unclear how its continued spread will impact other aspects of business, travel, public health, and policy.
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Dozens of other large U.S. corporations, including Apple, Ford and Kraft Heinz, have already restricted their employees' China business travel or scaled back operations because of the outbreak.
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According to a survey of 400 businesses by the Global Business Travel Association, nearly half of businesses have already canceled or postponed at least some meetings or travel.
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Travel between the United States and India increased 10.3 percent from the first half of 256 to the first half of 249, American Express Global Business Travel reported.
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It also says that business travel will be restricted to "essential travel only," and travel to China, Hong Kong, Japan, Italy and South Korea will be completely restricted.
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GOLDMAN RESTRICTS NON-ESSENTIAL BUSINESS TRAVEL TO, OUT OF OR WITHIN THE REST OF ITALY, AS WELL AS OTHER PARTS OF ASIA, EXCLUDING AUSTRALIA, NEW ZEALAND AND INDIA
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Business owners who like to travel will open rewards credit cards for which they charge their business travel and accrue enough points to travel on vacation for free.
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Deals • Carlyle and other investors are reportedly taking a stake in American Express Global Business Travel, in a deal that values the company at $5 billion, including debt.
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Blade and Uber both offer similar service in NYC, for instance, connecting JFK with Manhattan in another popular business travel route that's frequently mired in plenty of traffic.
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Rising business travel and a surge in outbound tourism fuelled by an increasingly wealthy middle class in both coastal and inland areas of China is fuelling airline growth.
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"This will impact people's ability to travel nonstop," said Jeremy Quek, the air practice line lead of the Global Business Consulting division of American Express Global Business Travel.
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First of all, the Global Business Travel Association surveyed travellers in eight countries, from America and Mexico to Germany and Japan, while Certify looked only at the United States.
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Riders are charged a maximum rate of 58 cents per mile, which is the current IRS reimbursement rate for business travel by car (up from 54 cents last year).
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All listings deemed "Business Travel Ready" (BTR) feature free Wi-Fi, a desk, soap, shampoo, a hairdryer, an iron and check-in with a doorman (or a digital lock).
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A mere three years ago the 2015-founded, Barcelona-based startup had bagged a $7M Series A — with a pitch to take the pain out of business travel booking.
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Both carriers said they expect their unit revenues to increase in the fourth quarter, despite lingering effects from the storms, as demand for leisure and business travel remained strong.
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Qatar Airways upped the ante for business travel with its Qsuite, the first to offer business cabin passengers the option of lowering a partition to create a double bed.
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Meanwhile, Twitter CEO Jack Dorsey has cancelled his appearance as the company suspended all noncritical business travel and events due to concerns about the outbreak, along with China Gathering.
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Microsoft, according to an email reviewed by Business Insider, at the time had stopped short of pausing business travel but asked employees to discuss any travel concerns with management.
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Air China Ltd , China's flagship airline, said on Wednesday its 2015 net profit jumped 77.5 percent, boosted by record low fuel prices and robust leisure and business travel demand.
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But it's better to focus on the mission of the job and the company itself, rather than ancillary work perks like business travel or access to high-profile events.
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This growth in usage reflects changing corporate travel trends, and has enabled tech companies to take an increasingly large bite out of the world's $1.4 trillion business travel industry.
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Between 2014 and 2017 the share of American business-travel trips taken with such apps rocketed from 8% to 62%, while those taken in taxis fell from 37% to 8%.
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When it comes to international business travel, flyers tend to be brand loyal to build up points with an airline's rewards programs, or to access their larger international route network.
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Its shares have surged about 10 percent since the No. 2 U.S. airline raised its first-quarter profit estimate earlier this month on the back of strong business travel demand.
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United attributed the difference to higher-than-expected international airfares on average and to more business travel during the last week of June, around the U.S. Fourth of July holiday.
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The travel abroad would be for a duration of no longer than two weeks; and • Business travel abroad would not include passage through the countries covered by the executive order.
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Although China's anti-corruption campaign has slashed lavish banquets and business travel, positions in official reception offices are still highly desired by young jobseekers facing an increasingly competitive employment market.
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WASHINGTON — Boeing is partnering with supersonic start-up Aerion to develop a jet that will bring back the luxury of faster-than-sound business travel, the aerospace giant announced Tuesday.
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Sensimar hotels are being marketed by Tui's British subsidiary, Thompson, through "First Dates", a popular TV show whose young adult audience is itself not necessarily in keeping with business travel.
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Whitbread, which has been focusing on the hotel business after the sale of its Costa Coffee chain, reported lower room revenue last month as companies cut back on business travel.
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But this is where Airbnb's efforts to attract business travelers — including partnering with large companies to accommodate their employee travel needs and surfacing "Business Travel Ready" listings — matter even more.
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Some of the prominent companies that Mr. Conley and others at Airbnb have cited as business travel customers — including Facebook and Google — declined to discuss the topic for this article.
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Like rival Etihad, Emirates is currently facing a tough business environment, with overcapacity, an oil-price related drop in business travel and temporary restrictions on travel to the United States.
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Detroit, whose metropolitan area receives about 15.9 million visitors each year, ranked in the top five for every factor considered and was named the best overall city for business travel.
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Many hotels recognize "that they operate in a world in which one traveler's experience can be magnified across legions of potential customers via online review sites," Business Travel News said.
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"Hotel prices drop in many U.S. cities in the days leading up to Thanksgiving because of a significant decline in business travel and thus lower overall demand," Mr. Holden said.
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It had canceled the in-person part of the gathering, which was planned for New York City, as the coronavirus outbreak became more severe and companies were restricting business travel.
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CNN reported in 133 that airlines were most heavily hit by the pre-attack economic decline due to a drop in business travel and were projected to lose $213 billion.
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Meanwhile, other American companies with footprints in China, including Apple, Ford and Kraft Heinz, have restricted employees' China business travel or scaled back operations as a result of the disease.
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"We wanted to make an absolutely clear statement that the values of the N.B.A., these American values — we are an American business — travel with us wherever we go," Silver said.
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The temporary dip, he said, is because business travel is at a lull, and tourists generally prefer to celebrate Christmas at home or travel to visit family for the holiday.
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A quick survey by the Association of Corporate Travel Executives, conducted three days after the executive order was issued, found that the repercussions in the business travel community were swift.
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International SOS, a medical and travel security services firm that advises companies on travel, said its guidance for now was that business travel to China outside Hubei province could continue.
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"Medical researchers have found that frequent business travel can cause so much stress that it poses health risks, including anxiety and depression," said Kim Albrecht, SAP Concur's Chief Marketing Officer.
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Expanding the program has been a top priority for groups like the Global Business Travel Association (GBTA), U.S. Travel Association and Travelers United, which all signed on to the letter.
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The zeal for parsimony, from cutting business travel to axing the office fruit bowl, has helped the bank regain some credibility by making its first net profit in four years.
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If there's a new restriction on business travel, or just more attention to expense accounts, that can be a sign of initial pressure on profits that will lead to cuts later.
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Business magazine WirtschaftsWoche said on Friday that SAP had instituted a cost-savings program to control infrastructure spending, corporate purchasing and business travel that was not tied directly to generating sales.
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Although Foursquare reports that business travel is up 3 percent in the U.S. YOY, that is below the trend line for other world destinations, which is closer to 10 percent growth.
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United Airlines linked the better-than-expected news to Fourth of July traffic as well as an increase in business travel in the final week of June, according to a release.
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If you book your own business travel, you might be able to take advantage of all the points you rack up in a year to splurge on a trip down south.
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A survey by the Global Business Travel Association (GBTA) found that 20163 percent of its European members were less likely to plan travel to the U.S. after the restrictions were announced.
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"People see themselves locked into business travel as part of the job, and speaking out might put them in the 'slow lane' to job progression," study author Cohen told NBC News.
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The aim is to entice business travelers to also choose SAS for leisure travel - a market segment that unlike business travel is growing and that SAS wants a larger chunk of.
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The uncertainty could curb demand for the business travel, a key driver of profits for the airline industry, Gloria Guevara Manzo, chief executive of the World Travel and Tourism Council (WTTC).
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Its lawyers paint a picture of Mikkelson mismanaging tens of thousands of dollars by using Snopes' money for non-business travel — allegedly including a honeymoon to Asia following his second marriage.
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American Express Global Business Travel (GBT) is forecasting growth across the travel sector, including air and ground transportation and hotel stays, with higher fares and increased bookings supporting the industry's growth.
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The uncertainty could dampen demand for the business travel, a key driver of profits for the airline industry, Gloria Guevara Manzo, chief executive of the World Travel and Tourism Council (WTTC).
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On K Street — the term for Washington's cadre of lobbyists, political operatives and people working in public relations — deals are often done over dinner or drinks, on business travel or retreats.
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Earlier this month a warning from Delta that business travel was a bit softer than expected at the end of the fourth quarter was enough to send airline stocks sharply lower.
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In their brief, the companies argued that the order created uncertainty for companies depending on talent from overseas and global business travel to innovate and create jobs in the United States.
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Receipts for Uber rides made up 6% of all business travel transactions—more than any other vendor— last year, according to data on U.S. employers from expense management software company Certify.
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That makes this card a solid option if you spend a lot on business travel through the Amex portal or tend to make a lot of large purchases with your card.
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COHEN asked Individual 1 about the possibility of Individual 1 traveling to Russia in connection with the Moscow Project, and asked a senior campaign official about potential business travel to Russia.
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The industry is crucial for the efficient functioning of the US economy, not only enabling business travel but also leisure travel, which itself is a major sector of the US economy.
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And some business travel could be curtailed, either because businesses have less to spend on travel, or because the crisis showed companies they needn't travel as much as they once did.
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Hilton's chief executive, Chris Nassetta, said business travel demand was better than expected, and Marriott's chief executive, Arne M. Sorenson, characterized the mood in corporate America post-tax reform as optimistic.
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Its team that works with corporations to analyze their business travel and offer individualized plans has grown to more than 80 people from 30 in the last year and a half.
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Companies are surveying their employees to see if they feel as if they are being cared for on the road, said Mike McCormick, executive director of the Global Business Travel Group.
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He has said he wants to help out the airline and cruise industries, as well, while fear of the virus and travel restrictions have crushed demand for tourism and business travel.
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TripActions was especially vulnerable to the rapidly changing economic landscape many startups are just now coming to terms with because of its heavy reliance on business travel and startup customer base.
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Earlier this week, Google and Twitter both told employees to work from home, while Google, Amazon, Apple, Facebook, and many others have limited business travel — internationally and, in some cases, domestically.
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"We wanted to make an absolutely clear statement that the values of the N.B.A., these American values — we are an American business — travel with us wherever we go," Mr. Silver said.
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Its strategy of appealing towards the business travel class earned the airline nearly $1.2 billion in revenue between April 2018 and March 2019, according to estimates from travel data analyzer OAG.
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The list of high-risk regions is informed by guidance from the CDC and continues to expand; all non-essential business travel to these places is also restricted until further notice.
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"When it comes to business travel, we need to adopt policies that support our business travelers and help the industry grow," said Michael McCormick, executive director and COO of the GBTA.
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WHEN President Donald Trump announced his travel ban last month, affecting people from seven majority-Muslim countries, this blog wondered what effect it would have on tourism and business travel to America.
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Airbnb, however, has been trying to eat into that business travel market as well with Airbnb for Work, its segment of highly rated lodgings that have hotel amenities and self-check-ins.
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Delta Air Lines President Glen Hauenste said on Thursday that he's expecting the GOP tax cut bill to provide both savings for the airline and an uptick in business travel, per Reuters.
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JetBlue will likely have an impact on more than legacy carriers: Several business travel and private jet startups, like the Jay Z-backed JetSmarter, hope to build clientele that frequent the route.
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Low-cost carriers and full-service airlines have been adding planes and increasing services to cater for demand from a rising middle class in Asia eager for both leisure and business travel.
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Ms. Martin said Mr. Trump had enthusiastically supported her decision to have two children over the past five years, even when it meant working from home and scaling back on business travel.
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For every 1 percent increase in business travel spending, the U.S. economy gains an additional 71,000 jobs, nearly $5 billion in GDP, $3 billion in wages and $1.2 billion in tax collections.
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Separately, the German government has commissioned a Lufthansa subsidiary to handle business travel payments for staff at federal authorities, Welt am Sonntag reported on Saturday, without citing the source of its information.
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There were 514 million business trips made within the United States last year, a number projected to grow 15.93 percent by the end of 2018, according to the Global Business Travel Association.
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"Tourism from Turkey might be impacted in the cities where the protests are happening in the U.S. but only a little, and I don't think business travel will be affected," he said.
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Travel, tourism and hospitality are feeling the effects of the coronavirus outbreak most acutely as companies ban business travel, conferences and events are canceled, and fewer people want to travel for recreation.
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A Grown-Up's Guide to Walt Disney World Whatever brings you to the theme parks — your honeymoon, nostalgia, business travel, unfulfilled childhood fantasies — there's plenty of grown-up fun to be had.
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AT&S is working intensively on increasing safety stocks, has introduced compulsory masks on the company premises, broad home office regulations and has stopped business travel to avoid production disruptions, it said.
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Here are highlights from the report:As companies are increasingly adopt remote work policies and less business travel, Microsoft stands to benefit because of its Skype for Business and Microsoft Teams chat app.
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If your airline cancels your flight, your employer restricts business travel or an organization cancels its scheduled conference, your decision about whether to go or stay home will be made for you.
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Some of this missed consumption may never be recouped: spring break vacations and business travel — all of which pour millions into local economies — may not be taken a month or two later.
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A member survey conducted online early last week found that nearly a third of travel managers said their companies were cutting back on business travel in the immediate aftermath of the order.
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Officials had hoped that the agency's workload would normalize after the inauguration, but the president's frequent weekend trips, his family's business travel and the higher number of protectees has made that impossible.
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SYDNEY, June 3 (Reuters) - Trade tensions could dampen economic growth and have a negative impact on travel demand, especially for lucrative business travel that drives airlines' profits, aviation industry executives said on Sunday.
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"United Polaris will change the game in international business travel with an exceptional level of relaxation and comfort throughout our customers' journeys," Oscar Munoz, president and CEO of United, said in a statement.
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Earlier this year, the company added a Business Travel Ready search filter, which allows users to find rentals with 24-hour self-check-in, Wi-Fi, and quick approvals, along with other amenities.
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TravelPerk, a Barcelona-based SaaS startup that's built an end-to-end business travel platform, has closed a $21 million Series B round, led by Berlin-based Target Global and London's Felix Capital.
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American said that metric should improve further in the fourth quarter from the same period a year ago, growing 2.5 percent to 4.5 percent on an increase in leisure and business travel demand.
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The Business Travel Coalition's (BTC) Kevin Mitchell recently wrote an op-ed on The Hill's Congress Blog titled "Delta Air Lines' campaign against Gulf carrier subsidies is built on house of cards" (Dec.
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Kenya Airways sunk into losses in 2013 after costly purchases of aircraft coincided with a slump in tourism and business travel to Kenya after a spate of attacks by Somalia-based Islamist militants.
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"While the situation has not stopped people traveling on business, many want to know what plane they'll be flying on," said a spokesman for American Express Global Business Travel, another major corporate provider.
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"Kelly added: "It's probably permanently damaging to the business-travel business — maybe a little bit less so far for vacation travel because I think everybody will want a vacation when this is over.
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Twitter (TWTR), which announced over the weekend that it would suspend all "non-critical business travel and events" and is encouraging employees to work from home, will also give the conference a miss.
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Moreover, the trust that the company built up over decades has vanished, said Ajay Awtaney, a once-loyal Jet customer and the founder of Live From a Lounge, an Indian business travel website.
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Business travel, conferences, now leisure travel — all that stuff's being cancelled, so, everyone's essentially bunkering down and just staying at home," Tepper, his firm's president and CEO, said Thursday on CNBC's "Trading Nation.
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As for the airlines, if enough people do choose to stay at home—or if business travel restrictions and government advisories keep them grounded—companies will have to respond to the falling demand.
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ZURICH, March 4 (Reuters) - Swiss bank UBS Group has imposed a global ban on business travel due to the spread of the coronavirus, according to an internal memo sent to staff on Wednesday.
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"Based on the evaluation of risk communicated by global health authorities we have advised employees in China to work from home and cancel all non-essential business travel," a Microsoft spokesperson told Forbes.
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That's why, at least for the foreseeable future, this lazy, no-good, Applebee-killing generation will be a cash cow for travel companies willing to adapt to the changing face of business travel.
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Thus, in a time of restricted business travel and increasing pressure on companies, schools and other public gathering places to put epidemic plans in place, digital companies like Zoom are likely to benefit.
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In 2017, the company spent $1.3 million on "security arrangements provided for Mr. Benioff in addition to security arrangements provided while at work or on business travel, " down from $1.45 million in 2016.
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A survey earlier this year by the Global Business Travel Association found that half of corporate travel policies, across eight countries including America, still do not explicitly allow workers to use ride-hailing services.
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For the Bulgari hotel in London, Heywood Hill supplied about 5153,000 books: volumes on business, travel, history, politics and the like for the boardrooms; fashion, art, design and fiction classics in the guest rooms.
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While passenger travel is a consumer service and may be expected to lag or change with the economy, personal and business travel also seem to respond to economic confidence and sometimes lead other indicators.
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It sank into losses in 2014 after making costly aircraft purchases, which coincided with a slump in tourist and business travel to Kenya blamed on a spate of attacks by Somalia-based Islamist militants.
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Beyond the privacy implications, Wyden suggests that these aggressive policies could also discourage international business travel and distract U.S. Customs and Border Protection (CBP) from its core mission with broad "digital dragnet" border searches.
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In one recent survey, 2202 percent of European business travel professionals said their companies would be less willing to send travelers to the United States because of Trump's travel ban, according to the GBTA.
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Also, Saturdays, in general, are a good day to fly to many destinations because leisure travelers usually head out for their trips on Fridays and return on Sundays, and there is limited business travel.
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Decades of my life have been built on air travel — college years, a Navy enlistment, grad school, career business travel, overseas vacations and commuting to date my second wife after being left a widower.
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It's swanky, but with a warm, inviting atmosphere, and a great spot for a staycation or business travel, and for families who need joint-suites, and travelers who prefer a high-end, personalized stay.
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While the airport is smaller in terms of annual passengers than nearby JFK or Newark, it is still the 21st busiest in the nation, and sees a significant share of domestic and business travel.
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One of the possibilities, the industry source said, would be restricting flights to essential business travel only -- but airlines, at this point, are happy to take anyone who is healthy and willing to fly.
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Then it appears to be about the kind of black small-timer who takes "continental" at its word and permits inexperience to recast the business-travel buffet spread as the apotheosis of upper crustiness.
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Americans might even get comfortable with video conferencing in ways that permanently reduce business travel, and perhaps some of these new hygiene habits will make us all a bit healthier in the long run.
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Facebook is banning all non-essential business travel for its employees globally and will conduct job interviews entirely over video-conferencing software, in the latest sign of how the coronavirus is impacting major businesses.
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Rob also reported that Facebook recommended that all of its Bay Area employees work from home, and that it's banning all non-essential employee business travel globally and moving job interviews to video-conferencing.
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Moody's Analytics REIS doesn't track hospitality and hotel landlords with the same fidelity of its other asset classes, but it's clear that halting almost all personal and business travel will hit that area hard.
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The company has banned international business travel for all its employees, one among many steps to try and mitigate risk to workers, and is also testing business continuity plans at several sites and offices.
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NEW YORK (Reuters) - Colombia's state-run oil company Ecopetrol SA placed restrictions on business travel to all Asian and European countries on Monday in response to the coronavirus outbreak, its chief executive told Reuters.
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Media giant Thomson Reuters has canceled non-essential business travel for its employees to mainland China, Hong Kong and South Korea over mounting fears of the deadly coronavirus outbreak, a spokesperson confirmed to CNBC.
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Michael McCormick, executive director of the Global Business Travel Association, questioned Thursday whether such gadget bans are effective in deterring terrorism, when compared with efforts such as enrolling more passengers in trusted-traveler programs.
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LONDON (Reuters) - Standard Chartered is advising its staff to avoid business travel to the Chinese city of Wuhan following a virus outbreak that has so far killed 26 people and infected more than 800.
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There has been mounting concern that the crackdown could have a broad chilling effect on the demand for international and business travel to the U.S., which would deal a major blow to the economy.
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Given that those airlines generate roughly two-thirds of their revenue from business travel, any recovery in corporate pricing as a result of the Republican tax plan should disproportionately benefit those companies, Didora said.
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On a recent visit, I checked out one of the new suites and found it more accessible than in the past, making it an exceptional choice for business travel with a side of fun.
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Hilton has for the third time this year raised its full-year profit forecast and said business travel to its properties had improved in the months following the U.S. presidential election in November 2016.
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Like Uber, which plans to become the ultimate transportation company, Airbnb's long-term ambition is to build an end-to-end travel platform complete with home sharing, hotel booking, business travel arrangements, experiences and more.
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By centralising the process for booking and payment, and perhaps by giving the Business Travel Ready stamp of approval, Airbnb might persuade some wary managers that it is as reliable an option as a hotel.
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It's something I'm going to try to do be more mindful of, the next time I feel the anxiety that comes with business travel and conference-level work loads ahead of the next big show.
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Airbnb agrees to acquire last-minute hotel-booking app HotelTonight Airbnb's long-term goal is to build an end-to-end travel platform complete with home sharing, hotel booking, business travel arrangements, experiences and more.
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For the past three years, Joyce has slashed staff numbers and driven the "Flying Kangaroo" fleet harder, driving up fares to withstand competition on international routes and offset a soft business travel market at home.
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I will be out of the office on vacation/business travel/in a meeting from Tuesday, May 2 through Monday, May 8, and will not be responding to emails or phone calls during this time.
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NEW YORK (Reuters) - Global business travel is expected to thrive in 2018, according to a report by a travel management group, as an improving world economy buoys confidence in the private sector and investment community.
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According to research by American Express Global Business Travel (GBT), a corporate-travel firm, over the past two years the safety of employees has overtaken cost to become organisations' biggest concern when organising work trips.
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Some might question why hospital efficiency was included in a report about business travel, but according to On Call, it's important to identify any issue with the potential to impact an employee's productivity and health.
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The specter of negative online reviews has had the positive effect of forcing the hospitality industry to focus on better service, according to a recent report from Business Travel News, which serves corporate travel managers.
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The airline and hotel industries had better get cracking on re-imagining what business travel is going to look like once the coronavirus pandemic winds up, according to John Sculley, the former CEO of Apple.
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Why it matters: The restrictions are piling pressure on airlines and the broader travel industry, which faces a monthly hit of more than $46 billion from the coronavirus, according to the Global Business Travel Association.
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The fee, which was instituted in 2012 and nearly doubled last year, will be broadened to include indirect emissions from activities such as manufacturing, business travel and the electricity customers may use on its products.
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A Google spokesperson says the company now plans to keep its offices closed in accordance with the government guidance, and it's also placed temporary business travel restrictions on flying to mainland China and Hong Kong.
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" Lacey Van Luven, a consultant at American Express Global Business Travel, said, "About 20 percent of the inquiries I received in the last six months alone were related to senior executive or frequent traveler perks.
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In quarantined areas, people are quickly adapting to a new world order—business travel is falling, shares in video meeting tool Zoom are rising, and whole subcultures are rising offering quarantine recipes and fitness routines.
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If you must use these, Si-Yeon Kim, chief risk and compliance officer of American Express Global Business Travel, suggests minimizing the number of documents you open, and being careful of whatever information you transmit.
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" The charging document against Cohen says he asked Trump about the possibility of Trump himself traveling to Russia in connection with the Trump Tower project "and asked a senior campaign official about business travel to Russia.
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So while tourist spending stagnated in 2015, businessfolk splashed out 7% more in Britain than the previous year, according to the Global Business Travel Association, an industry body, which forecasts further growth of 6% this year.
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When he got back to London he cornered me in the office and launched into the sort of angry "I'll tell you what you ought to write about" conversation that business-travel bloggers must regularly endure.
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The company said it estimates a "negative impact of approximately $15 million to $20 million from the recent natural disasters," referring to hurricanes that wreaked havoc in popular tourist and business travel destinations in recent months.
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But Trips is much less geared toward business travel than TripIt, which offers a $49-a-year premium service that tracks your reward points and alerts you when a better seat becomes available on your flight.
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First, Airbnb now offers a selection of "business travel ready" properties, which must fulfil some basic requirements such as decent wi-fi, desks on which laptops can be used, and 24/7 access to the property.
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Airbnb said its now seeing 14,000 new companies sign up each week for its business travel services and the home-sharing giant is already being used on business trips by the likes Google and Morgan Stanley.
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And it has teamed up with travel management companies including American Express Global Business Travel on its Airbnb for Business program, which includes homes with business essentials such as Wi-Fi and laptop-friendly work spaces.
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Like other members of his family, Mr. Trump's personal and business travel — often to far-flung Trump properties and projects around the world — has triggered frequent criticism and careful documentation by Democrats and other watchdog groups.
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The process of proving a "bona fide" relationship to an American business is just a different (and almost certainly more stringent) level of scrutiny that's brought to anyone applying for a temporary visa for business travel.
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The failure of an airline that connects all corners of the United Kingdom with major European destinations not only puts around 2,400 jobs at risk but could also see some airports struggle and business travel restricted.
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NEW YORK (LPC) - American Express' Global Business Travel (GBT) unit was forced to improve lenders' protections on US$250bn in loans to lure investors into a transaction that teetered as fears of a coronavirus pandemic mounted.
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NEW YORK (LPC) - American Express' Global Business Travel (GBT) unit was forced to improve lenders' protections on US$250bn in loans to lure investors into a transaction that teetered as fears of a coronavirus pandemic mounted.
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Lufthansa has not seen any changes to business travel in the week after the vote, CEO Carsten Spohr told reporters in Frankfurt, though he conceded that expectations of lower economic activity are not good for any airline.
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So while tourist spending stagnated in 2015, business folk splashed out 7% more in Britain than the previous year, according to the Global Business Travel Association, an industry body, which forecasts further growth of 6% this year.
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According to a study released last fall by the Global Business Travel Association, 79 percent of all business travelers, and 88 percent of millennial business travelers, said their job-related travel experience affected their overall job satisfaction.
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The National Aeronautics and Space Administration (NASA), Boeing, Lockheed Martin and Blue Origin are just a few of the organizations that have begun to limit business travel, reschedule events and move some workers to remote set-ups.
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Tourist and business travel has already dipped sharply this year, but the visa ban will take activity to an "all time low", according to Chetan Gupta, general secretary of the Association of Domestic Tour Operators of India.
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If your company has restricted business travel, or if you plan to travel for business in the near future, here's what you need to know about cancellation fee waivers, refund policies, and staying healthy on the road:
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Microsoft is suggesting that people postpone trips to its Puget Sound and Bay Area campuses unless they are essential, and all business travel that isn't essential in areas the coronavirus is affecting should be canceled, DelBene wrote.
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McLachlan said Rezidor's strategy on the continent was about 80 percent focused on business travel to help ride out the occasional dampener on the leisure market, including the outbreak of diseases such as Ebola or militant attacks.
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Bezos has received $20183 million in security-related services and business travel each year since 22018 and at least $235 million since 2096 when the company first started reporting security expenses as part of Bezos' total compensation.
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"Airbnb's stated goal of $13 billion in revenue by 2020 will likely come from a variety of categories — namely, vacation rentals, China and business travel," said Piper Jaffray analyst Michael Olson in a note to investors in March.
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Singapore Airlines, however, operates in a stronger business travel market than regional rivals Philippine Airlines and Vietnam Airlines JSC, which in February said long-haul flights are more an obligation than an option as the country's flag carrier.
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"The reported amount of security expense is especially reasonable in light of the fact that Ms. Mayer does not ask the company to reimburse her private aircraft costs for business travel," Yahoo said in the updated annual report.
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TravelPerk's business model is freemium — and its pitch is it can save customers more than a fifth in annual business travel costs vs legacy corporate tools/travel agents thanks to the lack of commissions, free customer support etc.
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Co-founders CEO Jean Tripier and CTO Alexander Mans tell TechCrunch that FLYR intends to use their new funding to release new products, including a solution for companies whose employees need to book a lot of business travel.
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It's a good option for Lyft to make available if it wants to win over some of Uber's more top-end customers, who are looking for a fancier ride during business travel or while hosting clients, for example.
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"Alternative accommodations" — which include online services like Airbnb and HomeAway — represent single-digit lodging market share but are growing at two times the rate of traditional lodging for business customers, according to Expedia's business travel booking company Egencia.
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Carriers such as Emirates and Etihad have competed to build global networks from their respective hubs in Dubai and Abu Dhabi, but overcapacity, security concerns and a fall in regional business travel means they are rethinking their strategies.
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Airlines had also warned that a Brexit vote could lead to a slide in demand for leisure and business travel, though analysts say that a fall in the pound could make leisure travel to the UK more attractive.
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A 503 study by Hotwire, an online travel retailer, and Egencia, a business-travel firm, found that 56% of 18- to 34-year-olds extend business trips to include leisure time, nearly double the rate of their elders.
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The five most common types are business travel/tourism visas (B-1, B-2), student visas (F-1, M-1), exchange visitor visas (J-1), crew member/transit visas (C-1/D) and specialty worker visas (H-1B).
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According to a 2017 study from the Global Business Travel Association (GBTA), in partnership with InterContinental Hotels Group, 66 million trips were taken last year for project-based purposes solely (representing 12 percent of all U.S. business trips).
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The airport, which is undergoing a 350 million pound ($455 million) expansion, is located near the Canary Wharf financial center in east London and used by over 4.5 million passengers mainly for business travel between Europe's major centers.
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Demand for travel to China has plummeted around the world as companies cut back on business travel due to the virus, people with family members in the country postpone visits, and entire regions of the country are quarantined.
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The statistic takes into account manufacturing of Amazon devices like Kindles and Echo speakers, gas consumed by delivery trucks and planes, electricity used by its cloud-computing data centers, business travel, packaging, and other purchased goods and services.
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Goldman Sachs has restricted all business travel to, from and within South Korea and the Northern Italian regions of Lombardy and Veneto in the wake of the coronavirus spread, a staff memo seen by Reuters on Tuesday shows.
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Flybe said on Tuesday Ourmieres-Widener, who has spent her entire career in the aviation and travel industry and was most recently chief global sales officer at American Express Global Business Travel, would start as CEO from Jan.
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Tax reform should boost business travel this year, according to Bank of America Merrill Lynch, and that in turn will boost shares of the country's biggest airlines, including American Airlines, United Continental and Delta, the investment bank said.
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Almost 70 percent of business travellers want to extend their work-related trips -- and according to the Global Business Travel Association's 2015 Business Traveler Sentiment Index, more than a third had done so in the past three months.
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Rival IAG, which owns British Airways, Iberia, Vueling and Aer Lingus, lowered its 2016 profit target a day after Britain's June 23 referendum and said it expected weaker demand for business travel as a result of the Brexit vote.
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The OIG already was eyeing Pruitt's use of first-class flights for business travel, millions of dollars in spending on his security staff, approvals for big raises for a number of employees, and reassignment or demotions of certain staff.
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While Lyft receipts cover just 11 percent of the business travel expenses analyzed by Certify, it's ahead of taxis at 7 percent and it is gaining on Uber, which still dominates the category with 54 percent of the receipts.
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He forecast no significant impact from the coronavirus outbreak on the company's travel business as it is a small part of the overall operations, but added that most international business travel plans had been cancelled due to the virus.
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Richard Florida, an urbanist at the Martin Prosperity Institute at the University of Toronto, said cities competing for the new headquarters will need a large airport to handle business travel, which might hurt competitors like Austin or Kansas City.
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And nearly half of business travelers prefer to stay connected and get work done while flying, according to the Global Business Travel Association (GBTA), meaning that prohibiting electronics in carry-on bags could be a huge disincentive to travel.
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Earlier this week, Bank of America Merrill Lynch said the new tax legislation would boost business-travel spending this year and that would help boost shares of Delta, United and American, which are heavily reliant on corporate travel revenue.
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Revenue per available room (RevPAR), a key industry measure, inched up 0.1%, though in Greater China, where IHG operates around 400 hotels, the measure eased 0.3%, which it blamed on a dip in business travel and protests in Hong Kong.
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TOKYO, July 4 (Reuters) - Japan's Fast Retailing Co , owner of the Uniqlo casual-wear brand, said it plans to suspend all business travel to Bangladesh after militants targeting foreigners killed 20 people in the country's capital on Saturday, including seven Japanese.
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Fresh from topping up its Series C with a whopping $60 million, business travel booking platform TravelPerk is launching a new product it hopes will make customers keep singing its praises by shaving further friction off of programming work trips.
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But as future agreements are negotiated between merchants and credit-card companies, the former appear increasingly likely to fight for an unbundling that could put a dent in the premium rewards cards that have become a major perk of business travel.
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LONDON, Oct 16 (Reuters) - Corporate travel bookings start-up TravelPerk has raised $44 million in new venture funding and is on track to more than triple bookings to 1 million next year as it aims to transform the business travel market.
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But at that point, says CEO and co-founder Avi Meir, the startup started talking with companies it was hoping to target — and found there were a lot more problems associated with booking business travel which it could be focusing on.
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Critics of the move, which also applies to Iraq, Syria and Sudan, say it will discourage business travel to Iran and cause complications for dual nationals, who are likely to be among the first attracted to doing business in Iran.
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"Those 'flourishing' viewed business travel as a source of happiness and a valued part of their identity," said Dr. Scott Cohen, lead author of the research and head of the department of tourism and events at the University of Surrey.
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"Business travel can be disruptive to employees' regular sleep, exercise and eating — all of which can take a toll on their overall health and well-being," said Dr. William Siegart, medical director at travel risk management provider On Call International.
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"In the run up to the EU referendum we experienced a slowdown in business travel and the uncertainty following the vote to leave, combined with the Brussels terrorist attack, has continued to dampen demand," Chief Executive Nicolas Petrovic said in July.
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Odds are very good that you'll never have a chance to experience it, because it's reserved only for frequent travelers, executives with generous business travel policies, the wealthy, and those who know how to game the booking system in God Mode.
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To be fair, the airline had warned immediately after the EU referendum that Brexit would likely hurt its profits, as doubts about the economy hit business travel and the resulting fall in the pound affected receipts when converted into euros.
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Overall, business-travel sales in the home-sharing sector—which also includes brands such as VRBO and HomeAway—grew by 56% in the first quarter of this year, compared with the same period in 2015, says Concur, a travel-management company.
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GBTA found that the business travel industry lost $185 million during the week the initial ban was in effect, while the research firm ForwardKeys found international bookings to the U.S were down 6.5 percent compared to the same period last year.
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"Given when Christmas fell this year there was some hope business travel would stay strong through December 21, and that appears not to have happened for Delta," said Helane Becker, an airline analyst with Cowen, in a note to clients Thursday.
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"We've seen an immediate impact on business travel, and we are now anticipating a rapid downturn in leisure travel in the coming months, as cancellations flow through and demand for bookings continues to soften," the company said in a statement.
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Even business travel, which was recently up 3 percent in the U.S. compared to a year ago, has been soft relative to the rest of the world, which has shown a 10 percent increase, according to the Los Angeles Times.
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Business Travel News, an organization that focuses on the managed corporate travel industry, created a free tool called the Traveler Happiness Index about 18 months ago that companies can use to see how their travelers are feeling about their business trips.
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While the tool was intended for companies to use directly, "We've also seen an increase in interest in this tool from travel management companies and consultants to use with their clients," said Elizabeth West, editor in chief of Business Travel News.
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Large U.S. corporations, from Apple to Ford to Kraft Heinz, have restricted their employees' China business travel or scaled back operations because of the outbreak United, which has the most service to China of the U.S. airlines, said starting Feb.
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International SOS, a medical and travel security services firm advising companies, said business travel to China outside Hubei could proceed, but that could change if there are more significant flight cancellations and disruptions to transportation, Regional Security Director James Robertson said.
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More recently, world events have been contributing to videoconferencing's momentum: As one venture capitalist inevitably pointed out, the stock price of video tech company Zoom is on the rise because concerns about Covid-19 have put a halt on business travel.
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PRAGUE, Jan 29 (Reuters) - Volkswagen's Czech carmaker Skoda Auto has postponed business travel to its largest market China for an indefinite period due to the spread of a new coronavirus but is not planning any staff evacuations, it said on Wednesday.
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As the novel coronavirus (COVID-19) continues to disrupt pretty much every industry on Earth, an increasing number of companies have canceled conferences, business travel, and in-person meetings to prevent the virus from spreading to employees, colleagues, and customers.
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Here are 9 of the best ways to learn a new language: Best deal Best overall app Best for business travel Best online class Best language game app Best for fast learning Most comprehensive learning Best for learning syntax Best for offline use
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Like many other aspects of both corporate culture and business travel, the growth of retreats and the evolution of incentives are being driven by Generation Y, people like Mr. Reeves of Gusto: young and with the mentality of a Silicon Valley start-up.
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Meir says the opportunity now is to simplify and streamline business travel booking systems, applying the same kind of ease-of-use principles found in consumer booking platforms to upgrade the experience and speed things up — generating cost savings in the process.
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Consumers are also used to using software for free, and TravelPerk is carrying that key notion over to its business travel booking space too: the platform is free to use and will remain "free forever", says Meir — dubbing that a "strategic decision".
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"We know that trust has been damaged over the last few months, and we own that and we are working hard to re-earn that trust going forward," Muilenburg said in an interview at the Global Business Travel Association conference in Chicago.
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The restrictions announced this week on bringing larger consumer electronic devices into plane cabins on some routes from Middle Eastern and North African countries could also push some carriers to cancel aircraft orders, Bellew said, saying that it could impact business travel bookings.
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Other policies supported by the Trump administration, including a pledge to reduce U.S. trade deficits and support initiatives that will put American corporations ahead of foreign competitors, have heartened businesses and investors and raised expectations for the near-term future of business travel.
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The GBTA estimates that 95% of Chinese business travel is domestic, tapping into a groundswell of consumption in China's smaller cities in the interior and supported by a host of infrastructure projects that include a commitment from 2011 to build 82 Chinese airports.
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In an emailed statement, it said $100 million was offered to the wholesale market and it released $50 million for small and medium enterprises along with $45 million which was provided for such items as medical fees, tuition fees and business travel.
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In 2011, Catherine Richards, a doctor at Boston Health Economics, and Dr. Andrew Rundle, a professor of epidemiology at Columbia University, wrote a report, "Business Travel Linked to Obesity and Poor Health," published by the Mailman School of Public Health at Columbia.
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The New York-based bank has already taken a number of measures to limit the spread of the virus among employees including splitting its North American workforce, imposing business travel restrictions, limiting large meetings and putting up reminders to practice social distancing.
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The global business travel sector is expected to take a revenue hit of about $820 billion, with China accounting for nearly half of the losses, as corporates curb travel plans in the wake of the coronavirus epidemic, an industry body said on Tuesday.
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Still, travel risk depends on where travelers are headed, the profile of the travelers, and where they are meeting and with whom, said Erin Wilk, global travel safety and security manager for Facebook and chairman of the Global Business Travel Association's risk committee.
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The travel industry has been at the epicenter of the economic turmoil arising from the coronavirus as leisure passengers cancel trips, employers curtail business travel, the conference circuit screeches to a halt and the State Department urges travelers to stay off cruise ships.
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LONDON, Feb 25 (Reuters) - Goldman Sachs has restricted all business travel to, from and within South Korea and the Northern Italian regions of Lombardy and Veneto in the wake of the coronavirus spread, a staff memo seen by Reuters on Tuesday shows.
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"This is actually a major, major pain point for all aspects of the business including business travel managers, including finance teams, and actually including a lot of the travelers that have to deal with it when they're on the road," Sindicich said.
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Singapore Airlines has a reputation for quality and a substantial amount of business travel to and from the city-state, improving its ability to configure aircraft with a high number of premium seats and charge more than one-stop competitors, according to analysts.
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He worries that he soon might have to start self-subsidizing even more of his business travel, as airlines continue to add fees to even the most basic features of economy class while his employer wants him to find the lowest fares available.
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"It's been kind of a surprise to a lot of travel managers in terms of: What does this entail, what does this include?" said Jeremy Quek, the air practice line lead of the Global Business Consulting division of American Express Global Business Travel.
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Education Secretary Betsy DeVos has solely used her personal private jet for business travel since she joined the department, and Small Business Administrator Linda McMahon has also used private jets, but a their spokespeople have said those flights have not come at any taxpayer cost.
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It is also trailing "major product additions in the coming weeks and months" — which TravelPerk claims will bring "a new level of disruption to the pricing structure of an industry that is still dominated by outdated solutions that make business travel expensive and painful".
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An anti-government campaign in Hong Kong that led to protests so far had only a minimal impact on business travel bookings, although some companies were starting to tell employees to defer non-essential travel or cancel plans to visit the city, Kapoor said.
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FoundersCard hosts an ongoing series of networking events in cities with high concentrations of members — thanks to business travel, though, there are often different people and new faces at these mixers, even if you go to two in a row in the same city.
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The European expansion will make Surf Air more competitive with business travel offerings from fractional jet ownership, or charter services, such as Vista Jet and NetJets already operating there, and startups like JetSmarter, which lets its members book unused seats on someone else's private jet.
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The U.S.-based Global Business Travel Association (GBTA) said two-thirds of polled members had postponed at least a few events, while 95% had suspended or cancelled most or all trips to China and 23% to European countries such as France, Germany and Italy.
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High production rates created a glut of large jets, and the drop in oil prices has reduced business travel to and from the Middle East, where carriers like Emirates Airlines, Etihad Airways and Qatar Airways have been among the biggest buyers of 777s and A380s.
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NAIROBI, May 23 (Reuters) - Sweden's Rezidor Group AB plans to increase by 60 percent the number of hotels it operates in sub-Saharan Africa to 120 in the next four years to take advantage of growing business travel, its regional head said on Tuesday.
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It's also worth noting that Foursquare was specifically looking at foot traffic associated with leisure travel and business travel, focusing more on stops made at venues (convention centers, restaurants, museums, stores, etc.) by folks who are visiting from abroad, instead of looking at hotel and airport data.
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The mission now can be summarized as trying to make the entire business travel journey suck less — from booking flights and hotels; to admin tools for managing policies; analytics; customer support; all conducted within what's billed as a "consumer-like experience" to keep end-users happy.
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Business travel SaaS startup, TravelPerk, has announced it's more than doubled the $44M Series C round we wrote about just nine months ago — taking in a further $5803M from its existing investors, which brings the round to $104M, and the business' total raised to date to $134M.
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While most users of Airbnb currently use the platform for vacations, the company's recent push into corporate business travel is a move back to its roots, when its founders started the company for conference attendees in San Francisco opting for a cheaper alternative to pricey hotels.
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They include pieces on the pandemic's impact on business, travel and daily life, as well as guides on how to limit the spread of the virus, how to adjust to new routines, what to do if you're worried you have Covid-19, and how to help others.
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Travel startups are facing an unprecedented nuclear winter as demand has fallen off a cliff globally — with little prospect of a substantial change to the freeze on most business travel in the coming months as rates of COVID-19 infections continue to grow exponentially outside China.
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My husband and I didn't once resort to eating from a carton, despite encountering all the usual suspects that typically send us to those delivery apps: plans changing at the last minute, a nasty cold (mine), business travel (his), and unpredictable schedules (hi, double-journalist household here).
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Amazon also said it's approving some exceptions for essential business travel, and that it's telling employees who do travel to affected regions in China to work from home for two weeks before returning to the office and to seek medical attention first if they experience symptoms.
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The spread of fake news by entities such as the for-profit Business Travel Coalition (BTC), the misrepresentation of the facts by the U.S. Travel Association (which is financially supported by Emirates and Etihad), and incomplete information taken as fact has muddied the waters on this issue.
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And as we previously reported, on Monday Microsoft Executive Vice President Kurt DelBene frustrated some employees when he doubled down on the same travel policy of having each individual employee consult with their manager rather than suspending all non-essential business travel as other companies are doing.
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"GSA employees are responsible for making their own lodging and meal arrangements while on official business travel and GSA reimburses its employees at the allowable per diem rates pursuant to federal rules and regulations and GSA's Travel Policy," agency spokeswoman Pam Dixon said in an interview.
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There are others that are either hoping to bypass or complement existing services with their own takes on how to improve business travel such as TravelPerk (most recent raise: $44 million), Travelstop (an Asia-focused spin), and TripActions (most recently valued at $1 billion), to name a few.
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As well as offering a clean-looking, consumer-style interface intended to do for business travel booking feels what Slack has done for work chat, the platform boasts a larger inventory than traditional players in the space, according to Meir — by plugging into major consumer providers such as Booking.
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A report issued last month by Concur, a travel and expense management company, found that the number of nights that its 303 million business travel customers spent in home-sharing accommodations rose more than 50 percent from the first quarter of 2015 to the first quarter of this year.
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The ash cloud from the Bali volcano, however, is smaller and in an area far less frequented by major airline routes and it has for now been contained mostly to the airspace around Bali and neighbouring Lombok island, both of which are primarily tourist destinations rather than key business travel points.
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They detail how Scobie and Porch borrowed money from the company to do up their house, used company cards for personal expenses, and spent lavishly on business travel and hotels — as well as the luxurious February dinner, the spending on which was cited as having been a factor in Scobie's firing.
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COMPUTER SOFTWAREHeadquarters: Palo Alto, CaliforniaYear founded: 2015US headcount: 600Largest job functions: Sales, Support, Operations Most common skills: Business Travel, Finance, Sales Management What you should know: TripActions, a corporate travel-management platform valued at $4 billion, has hired 650 global employees this year alone, bringing its worldwide headcount to 725.
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Those select business travel and purchases that earn 6x points include:Flights booked directly with airlines or Amex TravelCar rentals booked directly with select car rental companiesUS restaurantsUS gas stationsCell phone services purchased directly from US service providersUS purchases for shippingClick here to learn more about the Hilton Honors Business Card.7.
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Tech workers in the area have already been affected by fears of the virus spreading: Silicon Valley venture capital firm Andreessen Horowitz has been asking visitors to avoid handshakes due to the coronavirus outbreak, and other tech companies are taking action by halting business travel to China, according to Recode.
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Valid excuses include being a student at a college or university out of state or out of the country, being on business travel or vacation outside of the country or your city of residence on Election Day or having an illness, injury, or disability that prevents someone from getting to a polling place.
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"Out of an abundance of caution, we are restricting business travel to and from China until further notice and encouraging our employees to follow the health and safety guidelines provided by international health agencies such as the CDC and WHO," a spokesperson for the online retail giant told The Hill in a statement.
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Although the drop in demand initially seemed limited to flights going to one of the destinations with major outbreaks: China, Japan, South Korea, and Italy — public anxiety over the virus has led travelers to postpone vacations, and corporations to suspend business travel and cancel major conferences and expos, regardless of location or destination.
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The startup, which was valued at $4 billion after the Andreessen-led funding round in June, took on a $500 million in debt financing on February 25 when it launched a travel credit card, a fateful decision announced just days before corporations around the globe curtailed business travel amid the developing coronavirus pandemic.
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More than half expressed worry that there would be uncertainty in the future about whether a green card or approved visa would be considered valid for entry to the United States, and more than one in four predicted that the executive order would lead to a long-term reduction in business travel.
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Companies including Royal Dutch Shell and Phillips 66 have limited business travel to China DEMAND IMPACT A slowdown in the global economy resulting from the outbreak is expected to reduce 2020 worldwide oil demand growth by 300,000-500,000 barrels per day (bpd), roughly 0.5% of total demand, BP's Chief Financial Officer Brian Gilvary said.
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This is seeing the startup generate what it claims to be a significant amount of data around rental prices, the best locations, the best floor plans, etc — data it reckons will enable Homelike to vertically integrate further with developers that are building new and proprietary supply that is tailored to the business travel segment.
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One piece of good news: Business travel tends to slow down in the days before Christmas, and some travelers flying for work are likely to have called off trips booked for early in the week because of the chaos in Atlanta, said Henry Harteveldt, travel industry analyst and founder of consulting firm Atmosphere Research Group.
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A Harvard Business Review article in 2015 noted that frequent business travel accelerates aging and increases the likelihood of suffering a stroke or heart attack, and that more than 70 percent of business travelers report some symptoms of an unhealthy lifestyle, including poor diet, lack of exercise, excess drinking, stress, mood swings and gastrointestinal problems.
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Airlines for America, representing American Airlines Group Inc, United Airlines, Southwest Airlines Co, Fedex Corp and others, joined major U.S. airport groups, the U.S. Travel Association, Global Business Travel Association and the International Air Transport Association, to back additional emergency funding and warned of the impact of shifting more officers from airports and other ports of entry.
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Companies including Royal Dutch Shell and Phillips 66 have limited business travel to China DEMAND IMPACT A slowdown in the global economy resulting from the outbreak is expected to reduce 2020 worldwide oil demand growth by 300,000-500,000 barrels per day (bpd), roughly 0.5% of total demand, BP's Chief Financial Officer Brian Gilvary said on Tuesday.
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But the wider problem with the space TravelPerk is attacking is that existing corporate travel booking platforms are outdated and unpleasant to use, argues Meir, who reckons a third phase of business travel booking systems is coming down the pipe — after the original travel agent booking model that arose in the 1950s and 60s, via companies like American Express.
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This is an area where Airbnb has already been building inroads: It's had a program in place since last year called Airbnb for Work, aimed at the business travel market and booking accommodations for business travelers, and it says that to date some 700,000 companies have seen employees sign up and book accommodation through the program.
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Low-cost ticketing services and apartment-rental companies have brought down the costs of transportation and lodging; the ubiquity of social media has ticked up tourism marketing efforts and consumer demand for travel; economic globalization has increased the frequency of business travel; and rising incomes in emerging markets have opened up travel to many who previously couldn't afford it.
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"While Callender regularly used the Gearbox credit card for anticipated business expenses such as airfare and meals related to business travel, he also abused the privilege of credit card access by charging unapproved, wholly personal expenses, including family vacations, gun club memberships and firearms accessories, and trying to get six-pack abs," Gearbox attorneys alleged in their lawsuit.
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The ban on foreign citizens who have been in China within the previous two weeks, combined with plummeting demand for business travel to and from the region, presents an impending disaster for industries that rely on airlines, hotels, museums, conference organizers, and other types of companies in the US that rely on travel from the region.
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The company has said it would be ready to IPO from the end of June 2019, and in the meantime is already profitable on an Ebitda basis as it expands into a plethora of other services to diversify and position itself as a "travel experiences" business — including working with a growing number of corporate clients and integrating with business travel booking services.
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Some employees even called the company's initial response "disappointing," compared to steps taken by competitors including Salesforce, which quickly instituted a ban on non-essential business travel to help protect its employees amid the initial outbreak in the US. But inside the senior leadership team, Microsoft executives worried about making rash decisions that could be replicated elsewhere in the industry.
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The Tuesday report is the first in what is expected to be a series of OIG reports that look into many of the controversies that embattled Pruitt, which additionally include his decision to rent a $50 a night condo from the wife of a prominent energy lobbyist, and his prolific use of first class business travel during his first year heading the agency.
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"[Global Business Travel Association] members have repeatedly told us that travelers will be willing to spend extra time at security to prevent an outright electronics ban, so we are pleased to see TSA taking steps to enhance security, while still ensuring business travelers can keep their devices with them throughout their flight," said Michael McCormick, GBTA's executive director and COO.
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American Express Global Business Travel, which helps employees of companies with their travel arrangements, was a wholly-owned unit of AmEx until 2014 when it sold half its stake to a group of investors led by investment firm Certares LP. A part of the stake owned by the investor group would be sold to a consortium including Carlyle Global Partners and GIC.
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"We see less to fear in an inflationary market for the U.S. airline industry, as cost pressures are more known (contracts for the most part done), carriers are more likely to maintain capacity discipline and passengers may be in a better position to pay more (increase in demand for business travel or more discretionary income)," equity analyst David Vernon wrote in a research note.
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If a company is deciding how long a flight must be before an employee can purchase a business class seat, or how to dole out lounge access to its traveling employees, Mr. Sabby said his group, which is part of Carlson Wagonlit Travel, will offer information on costs, as well as a more subjective analysis on how the change will affect the business travel experience.
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The restrictions are piling pressure on airlines and the broader travel industry, which faces a monthly hit of more than $46 billion from the coronavirus, according to the Global Business Travel Association, a trade body based in Washington, D.C. Nestlé (NSRGF), the world's largest food company, said Thursday it has asked all 291,3003 of its employees not to travel internationally for business until the middle of March.
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The second version of TravelPerk launched in January, aiming to fix the bundle of business travel booking problems it had uncovered by, for example, filtering bookable content based on the user's travel policy and offering a range of payment options (with processing powered by Stripe) — although it still retains a dynamic budgeting feature, as an add on that aims to help companies create realistic budgets based on local demand, season etc.
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There were reports of an Iranian baby with a serious heart defect whose family was en route to get medical care in the U.S. when they got caught up in the travel ban, as well as reports of an economic toll on the states from a dampened demand for business travel to the U.S. It starts with a 10-day grace period The new order won't take effect until March 16.
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These are the best business credit cards to open in 2019Ink Business Preferred Credit Card: Best for sign-up bonusThe Business Platinum Card from American Express: Best for premium business travel benefitsThe Blue Business® Plus Credit Card from American Express: Best for points earning with no annual feeCapital One® Spark® Miles for Business: Best for flexible redemption options with a reasonable annual feeInk Business Unlimited Credit Card: Best for a flat earning rate when paired with another Chase cardAmerican Express® Business Gold Card: Best for 4x bonus categoriesInk Business Cash Credit Card: Best for cash-back bonus categoriesCapital One® Spark® Cash for Business: Best for simplicityBrex Corporate Card for Startups and the Brex Corporate Card for Ecommerce: Best if you only use one business credit cardAirline business credit cards: Best for frequent business travel if you're loyal to one airlineHotel business credit cards: Best if you're loyal to one hotel
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Berlin-based GetYourGuide, which has built a marketplace selling sightseeing tours and other travel experiences, and last year bagged a $484M Series E round; Omio, another Berlin-based startup that's built a multi-modal travel aggregator and booking platform, backed by nearly $300M to-date; and Barcelona-based TravelPerk, a fast-growing business travel booking platform that's pulled in more than $130M in VC funding as it shakes up a legacy space.
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American Express Global Business Travel (GBT), which helps employees of companies with their travel arrangements, was a wholly-owned unit of AmEx until 2014 when it sold half its stake to a group of investors led by investment firm Certares LP. A part of the stake owned by the Certares led-investor group would be sold to Carlyle Global Partners, Singapore's sovereign wealth fund GIC, the University of California Office of the Chief Investment Officer of the Regents and Kaiser Permanente.
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American Express Global Business Travel (GBT), which helps employees of companies with their travel arrangements, was a wholly-owned unit of AmEx until 2014 when it sold half its stake to a group of investors led by investment firm Certares LP. A part of the stake owned by the Certares led-investor group would be sold to Carlyle Global Partners, Singapore's sovereign wealth fund GIC, the University of California Office of the Chief Investment Officer of the Regents and Kaiser Permanente.
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While Airbnb built itself first as a marketplace for people to list and rent out rooms and homes for casual travel accommodation, in its quest to continue building out its business and grow its revenues per user by having more touchpoints with customers beyond simply providing a link to finding a place to stay, Airbnb has in more recent years expanded into more areas such as business travel and travel-related "experiences" to suggest (and sell) activities to tourists once they are staying in their Airbnbs (and even to those who are resident in cities and just looking for things to do).
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THESE PROPOSALS WILL BE ON AGENDA FOR AGM ON 20 MAY 2020 * AIM FOR A MEDIUM-TERM OCC FOR 03 OF "MORE THAN EUR 500 MILLION" * FOR 2020: STRONG CAPITAL POSITION ALLOWS GROWTH THROUGH SMALL AND MEDIUM-SIZED ACQUISITIONS * END-FY COMBINED RATIO (NON-LIFE) 93.5% VERSUS 95.7% YEAR AGO * IT IS OUR AMBITION TO HAVE REDUCED OUR CO2 EMISSIONS BY BUSINESS TRAVEL AND COMMUTER TRAFFIC BY 50% IN 2025 * FY OPERATING RESULT EUR 858 MILLION COMPARED TO EUR 749 MILLION YEAR AGO * INTEGRATION OF LOYALIS IS PROGRESSING WELL AND ITS CONTRIBUTION OF € 28 MILLION TO THE OPERATING RESULT IS SLIGHTLY HIGHER THAN EXPECTED Source text: bit.
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