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More than half of large-company CEOs see negative consequences of reducing business travel, according to a new survey released by J.D. Power, Tourism Economics, and the US Travel Association (USTA). Key findings from the survey reveal executives agree that reducing business travel may represent short-term savings but will bring long-term negative impacts on revenue.
Despite agreement, more than two-thirds of executives expect their company will spend less on business travel over the next six months compared to the same period in 2019. Further, half of companies still have policies in place restricting business travel.
Source: ustravel.org
Additionally, both business travelers and executives report “negative impacts related to reduced business travel.” Executives note that decreased business travel may represent short-term savings but damage sales in the long term (46 percent), which may harm overall financial stability and performance, according to the study. While frequency of trips is closing in on 2019 levels, spending is expected to be depressed throughout the end of 2022—primarily at conferences and trade shows as well as company meetings.
The Quarterly Business Travel Index projects a positive outlook for Q3, with an expected improvement to 84—up from 81 in Q2 (2019=100). The business conditions leading index, which measures the business environment for travel, shows moderate improvement, rising to 103 for Q3, up slightly from 102 in Q2.”
This near-term positive outlook also aligns with USTA’s latest forecast, which shows that domestic business travel will experience strong growth in 2022 before tapering off in following years.
However, there are headwinds on the horizon that threaten growth. In the coming quarters, companies will make travel decisions in a business environment that is adjusting to increased interest rates and high inflation, as well as labor shortages and supply chain challenges. Elevated risks of recession are anticipated to result in some caution among corporate decision-makers, which would stifle business travel spending by some companies. Additionally, with more businesses setting aggressive goals to reduce their carbon footprint, companies may choose to reduce business travel to achieve net zero emissions.
Click here to view the results of the survey.
[07.12.22]
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Portland, Ore.-based dealer Schetky Bus & Van Sales has announced it has launched a dedicated division for electric and autonomous vehicles. Schetky, which is celebrating its 80th anniversary this year, offers an array of new and used buses and vans for a variety of industries.
“With the changes from fossil fuels to electric-powered vehicles, it’s exciting to see our products and services begin to transform the market,” said Schetky Bus & Van Sales Co-owner David Schetky. “We’re leading the march into these new technologies—not only electric, but also autonomous, fuel cell, and other innovative products that are on the horizon. We are preparing to lead in all these categories.”
According to Schetky, the company is positioned to offer a turnkey approach to electrifying fleets. The new division will be responsible for educating customers on grant opportunities, assisting with grant writing and applications, and helping with charging infrastructure.
Schetky also noted that the company has some additional exciting announcements on the horizon, utilizing their best-in-class electric and alternative fuel partnerships.
Visit schetkynw.com for more information.
[07.05.22]
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NELA President Joe Cardillo of AOT Global
The New England Livery Association (NELA) held its quarterly membership meeting on Tuesday, June 28 at Spinelli’s Lynnfield in Peabody, Mass. More than 50 members were in attendance for the event, which was sponsored by Acton Fleet Sales.
Following a cocktail hour and dinner sponsored by Great Bay Limousine and Cross Insurance, the meeting kicked off with NELA Executive Director Rick Szilagyi announcing the 2022-23 NELA Board of Directors.
Nearly 60 members were in attendance at the meeting
The 2022 NELA Board of Directors are:
President: Joe Cardillo of AOT Global
1st Vice President: Brett Barenholtz of Above All Transportation/Boston Car Service
2nd Vice President: Tina Benson of LA Limousine
Treasurer: Joe Puleo of Dav El/BostonCoach
Secretary: Open
Operator Directors: Alicia Hayes of American Classic Limo, Brendan McNiff of DPV Transportation, Brittni Bogar of All Points Limousine, Charlie Wisniewski of Teddy’s Transportation, Mark Kini of Boston Chauffeur, Peggy Allen of Adventure Limousine, Tami Saccoccio Rutter of Commonwealth Worldwide, and Richard Tessier of Great Bay Limousine
Vendor Directors: Bob Moody of Acton Fleet Sales, Robyn Goldenberg of Strategy Leaders, and Steve Crispo of Research Underwriters
L to R: Brett Barenholtz of Above All/Boston Car, Joe Cardillo of AOT Global, Mark Kini of Boston Chauffeur, and Steve Crispo of Research Underwriters
The evening’s educational component—sponsored by Sky Coach & Limousine—was a panel discussion called Improving Margins: Efficiency and Effectiveness in the Ground Transportation Industry, led by Barenholtz, Cardillo, Kini, and Crispo.
“The overall point of discussion was not being afraid to raise prices,” says Szilagyi. Other topics included service costs and dynamic pricing; utilizing technology to limit loss runs; insurance costs; and questions from all attendees. In addition, Becky Laramee from All Points Limousine led a spontaneous discussion that encouraged members to pursue tax credits.
The all-new 2022 Jeep Wagoneer Series I on display at the meeting
Bill Cunningham and Bob Moody of Acton Fleet Sales were joined by Ted Leppzer of Stellantis to display the all-new 2022 Jeep Wagoneer Series I, which garnered positive feedback from attendees on its utility in their livery fleets.
NELA's 2022 Golf Tournament will be held on August 9
Next up, NELA will be hosting its 2022 Golf Tournament on August 9 at the private Marlborough Country Club, one of New England’s top-rated courses, and a longtime association event. Welcoming a mix of novice and experienced golfers, the association is guaranteeing a fantastic time for all attendees. Along with a great day on the links, lunch will be served at the turn, followed by a delicious dinner. If interested in attending, sign up online or call 866.736.6352.
Visit nelivery.org for more information.
[07.05.22]