{ "media_type": "text", "post_content": "Isn’t a significant portion of airlines and hotels revenue from corporate travel? Would they be able to survive, if consulting firms adopt a limited-travel model forever?", "post_id": "5f845eb3f19cf1001a04d5d6", "reply_count": 10, "vote_count": 1, "bowl_id": "552d1d24dc1c586b09d2d051", "bowl_name": "Consulting" }

Isn’t a significant portion of airlines and hotels revenue from corporate travel? Would they be able to survive, if consulting firms adopt a limited-travel model forever?

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They would need to right size their companies. Fewer staff, planes, routes, etc. The pandemic caused an instant shock so they are in that process now. They have to assume that business travel will never be what it was and make their adjustments permanent to have a profitable business.

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Survive, of course. Consulting is a significant part but still very much single digit percentages. I should imagine profitability will be hurt as we typically buy last minute fares and do multiple changes. We also don’t bat an eye at paying for change fees, lounge drinks, bag fees etc. that Joe Public goes a long way to avoid.

smart

Which part?

I’d assume they would struggle. I just look at myself. I’d buy tickets around a week in advance (prices get jacked up 2 weeks in advance FYI). My normal flight booked 2+ weeks in advance might be $150-200 RT but it usually ended up being $400 for clients. Airlines would need to likely sell 2 seats for every business traveler they lose. This is especially true for those that could book first class (I couldn’t).

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Yes, but they will figure it out just like any business with changing demand profile. This industry also has the luxury of a culture of bankruptcy / restructuring as the norm

smart

And sometimes we all know, the Monday n Thursday flights were literally full with consultants.

Hotels near large corporations, city centers, convention business, etc will continue to hurt for the next 2 years. To be fair, the extended stay hotel market and secondary markets outside of major cities are actually doing quite well - think if your interstate hotels - it’s almost a rebirth of that industry hotel type

I think hotels are more dependent on corporate functions and boon doggles. Consulting is the lunch crowd for a restaurant. Corporate getaways and conferences are dinner and wine

Long stay or service apartments could be struggling more, but leisure domestic travel is the biggest driver for general hotel business now.

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