Business managers are increasingly not being limited to only travel via cheap airplane tickets and discount travel packages as corporate profits increase.
Premium class travel was significantly reduced by corporations after the 2008 recession.
56 percent of North American companies in 2011 allowed premium class air travel, up from 51 percent a year earlier. 46 percent of European corporation are approving premium class airline travel to North America vs. 34 percent last year.
Overseas travel in first or business class seats increased almost 8 percent in July and over 6 percent in June.
Luxury hotels are also witnessing an increase in business guests in part because corporations are under less public pressure to stay away from upscale settings for sales conferences and for incentive travel rewards for employees.
Per room revenue for U.S. luxury hotels, such as Four Seasons, Ritz-Carlton, and St. Regis increased almost 17 percent in September, outperforming the entire hotel industry which saw per room revenue increase by 10 percent.
Only 10 percent of U.S. corporations permit their employees to upgrade to first or business class on flight within North America. Almost one third allow business class travel on flights to Europe and South America, while almost half permit upgrades for travel to Asia.
Many of the restrictions companies placed on premium air travel because of the recession are expected to remain in place until the economy shows signs of having fully recovered. www.cheapfares.com