Small businesses looking to optimize their travel spend in 2019 can save an average of $200 per domestic flight simply by booking six weeks in advance of departure date.
That’s the latest finding from Hipmunk, which analyzed economy class flight bookings made through its small business offering, Concur Hipmunk, which launched September of last year.
When compared to domestic economy class leisure bookings during the same period, Hipmunk found that small business travelers tend to book later and at a higher price point.
When Travelers Book
Hipmunk found that small business travelers tend to book their flight closer to their departure date than do leisure travelers. Indeed, 50% of all business travelers that booked their flights via Concur Hipmunk did so within two weeks of their departure date, whereas just 31% of Hipmunk leisure travelers booked two weeks prior to departure.
The Six-Week Sweet Spot
Hipmunk’s analysis found that business travelers’ median booking price for domestic economy flights rose by 43% when comparing bookings made six weeks prior to departure to bookings made five days prior—an increase of more than $200 for flights booked closer to departure.
“Smaller companies' travel budgets often fail to account for the full cost of travel—which can make a huge impact on a business’s bottom line,” says Christal Bemont, SVP & GM of the Small, Midsized and Nationals business unit at SAP Concur. “But by utilizing a few tips—such as booking domestic flights six weeks in advance of travel and taking advantage of travel offerings like Concur Hipmunk—small businesses can optimize their travel spend and keep their financial goals on target.”
Get more insider knowledge from Christal with these eight tips to travel smarter
Concur Hipmunk, provides travelers with the most available flight options, so they can make the most informed booking decisions—showing the difference in price and comfort between ticket options.
Thanks to features built specifically for business travelers, Concur Hipmunk makes sure you’re presented with the best options for your trip. It can also connect to your calendar to quickly find hotels near your out of town meetings and flights that get you there on time.
With all this information at your fingertips, you’ll always feel confident you—and your employees— can make the best decisions for every trip.
Traveling for leisure? Check out what the data says about booking in basic economy.
When Travelers Book Methodology: Hipmunk analyzed RT domestic economy flight bookings made from Sep 1, 2017 – Oct 28, 2018 via Concur Hipmunk by advance days of departure and compared those findings to RT domestic economy flight bookings by advance days of departure made from Sep 1, 2017 – Oct 28, 2018 via Hipmunk.
Six-Week Spot Methodology: Hipmunk analyzed the median booking price by advance days of departure of RT domestic economy flights made from Sep 1, 2017 – Oct 28, 2018 via Concur Hipmunk.