Business Travel Set to Break Records in 2024, Surpassing Pre-Pandemic Levels

Business Travel Set to Break Records in 2024, Surpassing Pre-Pandemic Levels

By Nithyakala Neelakandan

Published on October 13, 2024

Business travel is set to reach a record-breaking $1.5 trillion in 2024, according to a report by the World Travel & Tourism Council (WTTC). This significant recovery marks a faster-than-expected rebound, with business travel poised to exceed pre-pandemic levels by 6.2%.

The pandemic had a greater impact on business travel than leisure, largely due to the rise of remote working and virtual meetings. Last year, while leisure travel came close to its 2019 peak, business travel was still lagging, down by 5.4%. However, as companies re-emphasize the need for in-person meetings, business travel has surged ahead.

Key Markets Lead the Comeback

The WTTC’s "2024 Economic Impact Trends Report" highlights the recovery in major markets. The U.S., which accounted for 30% of global business travel spending in 2019, is expected to reach $472 billion in 2024, a 13.4% increase from its 2019 peak. China, the second-largest market, is projected to see business travel spending rise by 13.1%, reaching almost $211 billion. Germany, the third-largest market, is forecasted to hit $87.5 billion, just under 1% higher than its 2019 levels. Meanwhile, the UK and France are expected to set new records, contributing $84.1 billion and $42.1 billion respectively to their economies.

WTTC President & CEO Julia Simpson commented on the report at the 24th Global Summit in Perth, Australia. She noted, “After a challenging few years, business travel is not only back on track, but it is recovering much faster than expected, highlighting the importance of international travel for businesses around the world.” She also emphasized that while virtual meetings helped maintain connections during the pandemic, face-to-face interactions remain crucial for business success.

The Value of In-Person Meetings

Paul Abbott, CEO of American Express Global Business, reinforced this view, stating, "Companies around the world value travel and in-person connections more than ever, since people movement was restricted during the pandemic." He added that the halt in travel had serious economic consequences, including a drop in GDP, increased unemployment, and worsening mental health issues. Abbott believes that business travel is essential for economic growth and fostering company culture.

Additional Factors Driving Business Travel Growth

The report also attributes the resurgence in business travel to several factors. As global economies recover, companies are able to allocate more funds towards corporate travel. Blended travel, which combines business trips with personal vacations, has gained popularity, making business travel more appealing. The meetings, incentives, conferences, and exhibitions (MICE) sector has also seen a strong recovery, with in-person events returning after widespread cancellations during the pandemic.


Wyndham Hotels & Resorts Reports Q3 2025 Results

Wyndham Hotels & Resorts Reports Q3 2025 Results

By Hariharan U

Published on October 27, 2025

Wyndham Hotels & Resorts reported its Q3 2025 financial results, showing steady growth across operations and financial metrics. Global system-wide rooms increased 4% year-on-year to 855,400, including 503,400 in the U.S. and 352,000 internationally, while the company awarded 204 new development contracts, up 24% from Q3 2024. The global development pipeline grew 4% to 257,000 rooms, with roughly 70% in midscale and above segments and 58% internationally.

 Ancillary revenues rose 18% compared to the same period last year. Net income climbed 3% to $105 million, and adjusted net income reached $112 million, with diluted EPS increasing 5% to $1.36 and adjusted diluted EPS up 5% to $1.46. Adjusted EBITDA grew 2% to $213 million, while global RevPAR declined 5% in constant currency, mainly due to softer results in Asia Pacific and Latin America, partially offset by gains in EMEA and Canada.

Wyndham generated $86 million in net cash from operating activities and $97 million in free cash flow, ending the quarter with $70 million in cash and total liquidity of about $540 million, maintaining a net debt leverage ratio of 3.5x. In October 2025, the company refinanced its $750 million revolving credit facility, extending maturity to 2030, increasing capacity to $1 billion, and reducing borrowing costs by 35 basis points. Shareholder returns included the repurchase of 830,000 shares for $70 million in Q3 and year-to-date buybacks of 2.5 million shares for $223 million, alongside $31 million in dividends.

Looking ahead, Wyndham expects full-year global room growth of 4–4.6%, global RevPAR change of -3% to -2%, fee-related revenues of $1.43–$1.45 billion, adjusted EBITDA of $715–$725 million, adjusted net income of $347–$358 million, and adjusted diluted EPS of $4.48–$4.62, while maintaining a focus on portfolio expansion, strengthening its development pipeline, and delivering consistent shareholder value amid evolving industry conditions.


Alaska Air Reports Strong Q3 2025 Earnings, Expands Seattle Routes

Alaska Air Reports Strong Q3 2025 Earnings, Expands Seattle Routes

By Manu Vardhan Kannan

Published on October 26, 2025

Alaska Air Group reported strong financial results for the third quarter of 2025, posting a GAAP net income of $73 million and adjusted earnings per share of $1.05. The airline’s growth is being fueled by new nonstop routes from Seattle to London and Reykjavik, set to launch in May 2026, and the introduction of the Atmos Rewards loyalty program, which exceeded premium credit card sign-up expectations.

In a major technological upgrade, Alaska Air is installing Starlink high-speed Wi-Fi across its fleet, offering complimentary access to Atmos Rewards members. The company is also progressing with the integration of Hawaiian Airlines and advancing its Alaska Accelerate strategy, aiming for significant growth and profitability by 2027.

Analysts have assigned a Hold rating on ALK stock with a $49.00 price target, citing strong financial recovery but noting bearish technical indicators and increased leverage as potential risks. The airline continues to focus on expanding its global reach and enhancing customer loyalty through strategic partnerships and its Atmos Rewards program.


Royal Caribbean Group raises dividend by 33% to $1 per share

Royal Caribbean Group raises dividend by 33% to $1 per share

By Manu Vardhan Kannan

Published on September 14, 2025

Royal Caribbean Group (NYSE: RCL) has announced a significant increase in its shareholder returns, declaring a 33% hike in its quarterly dividend. The company’s Board of Directors approved a dividend of $1.00 per common share, payable on October 13, 2025, to shareholders of record at the close of business on September 25, 2025.

Jason Liberty, President and CEO of Royal Caribbean Group, said the move underscores the company’s confidence in its performance and long-term growth strategy. “Today’s dividend increase reflects both the strength of our performance and our commitment to return capital to shareholders. This increase in dividend, along with our ongoing share repurchase program, highlights our balanced approach to capital allocation, returning value to shareholders while funding future growth,” Liberty stated.

Royal Caribbean Group is a global leader in the vacation industry, operating a fleet of 68 ships across five brands that serve millions of guests annually. Its portfolio includes Royal Caribbean International, Celebrity Cruises, and Silversea, as well as land-based experiences such as Perfect Day at CocoCay and the Royal Beach Club collection. The company also holds a 50% joint venture in TUI Cruises, which manages brands like Mein Schiff and Hapag-Lloyd Cruises.

With a reputation for innovation and guest-focused experiences, Royal Caribbean Group continues to expand its global footprint while maintaining its commitment to responsible and sustainable growth.

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