Industry Leader Blu Corporate Housing Gives Its Cost Predictions For The Business Travel Industry For 2023 To Make The Life Of Travel Managers Easier

New Report ‘corporate-lodging-and-business-travel-industry-costs-to-continue-rising-in-2023’ highlights challenges in the sector.

Market leader in corporate housing and furnished rentals, Blu Corporate Housing, has launched an insightful report about the future of prices in the industry and has predicted that prices will keep rising across the board with no end in sight.

The company leveraged its experience working with top organizations, healthcare providers, government agencies, and diverse businesses and used data from credible sources to comprehensively analyze the industry. The report will help make the life of travel managers easier and allow accounts departments to budget for the year ahead.

According to the report, prices are expected to continue rising into 2023. However, it did not at the same pace as the world emerged from lockdown and began doing business in person again. The rates for next year are more in line with the expected inflation. The company products prices of airfares, transportation costs, and hotel rates to rise by 8.45, 6.8, and 8.2 per cent, respectively, in 2023.

Explaining the factors behind the price increase. A spokesperson for the company said, "Demand has accelerated both for business and leisure travel. The relaxing of travel rules was a key moment. Tension and urgency built up during the pandemic, and the various lockdowns were suddenly unleashed. Both domestic and international travel experienced huge demand, which increased prices. Rising fuel costs, the war in Ukraine, and increased costs related to getting back up to speed have put pressure on prices. The war has also impacted Jet fuel, a big component of airline running costs."

He added, "The global financial situation and the impact of rising costs across the world can have unpredictable effects. We don't have enough data to predict right now accurately."

These factors have created new challenges for all industries, including car hire, leasing, and purchasing are all experiencing tough times.

This is where Blu Corporate Housing is trying to make a difference. The company works with its clients to help them meet their budgets. They specialize in corporate accommodation for business travelers, corporate housing, healthcare employee housing, oil and gas housing, relocation housing, insurance housing, and government employee housing.

Businesses interested in getting more information or checking out their corporate housing solutions can head to their website.

 About the Company

Blu is a private company owned by Blu LLC that began as a two-person operation in Denver and has grown steadily to the 100+ people we currently employ. Since then, they have established a market reach of over 50 states and 5000 cities and are still working hard to increase it. They recently made the Inc. 500 list and are known for providing excellent service at an excellent price.