AMERICAN EXPRESS BUSINESS TRAVEL ANNOUNCES ADJUSTED RESULTS OF FORECAST IN ANTICIPATION OF GLOBAL ECONOMIC SLOWDOWN
"Potential Decreases in the Cost of Airfares Likely; Prices Could Move from -3 Percent to 5 Percent for Domestic Air Travel in North America; Hotel Occupancy is Expected to Decline and Hold Rates Steady
NEW YORK, October 22, 2008 -- American Express Business Travel today published its annual Global Business Travel Forecast and Trends report. Originally slated for release in September, the American Express Advisory Services department responsible for producing the report delayed its release in order to evaluate the impact of market activities that have occurred over the last 30 days. In the past weeks, modifications were made to reflect the potential impact of the anticipated global economic slowdown. In certain markets, the Forecast predicts a negative increase in 2009 to airfares and hotel rates. Both suppliers and buyers of travel and related services are expected to face new operating challenges in the coming year." ...
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