Business travel will never return to pre-pandemic levels, Booking.com CEO says
In an interview with Axios on Monday, Booking.com CEO Glenn Fogel said he believes “the share of business travel will be forever lower than pre-pandemic.”
Why it matters: Business travel has an outsized impact on parts of the travel and leisure industry, which is in the midst of adapting to post-pandemic demand.
- For example, only about 12% of air travel comes from business passengers, but they represent 75% of an airline’s profits, according to travel software provider Trondent.
What’s happening: Booking.com introduced a new $50 credit for future travel as an incentive to help drive demand for leisure trips —