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Weekly Recap 📰

  • Global Business Travel Spending: The Global Business Travel Association (GBTA) estimated the global business travel spending for 2023 to be $1.357 trillion, a 32.1% increase year over year, with projections indicating that business travel spending in the top 15 global markets will increase by at least 19% year over year​​.
  • Hotel Rate Increase: Hotel rates increased by 19%, and one in four flights have been delayed in 2023, leading to travel costing around 30% more per trip, which is expected to strain businesses​​.
  • U.S. Hotel and Occupancy Forecast: The easing of travel restrictions in Japan and China, along with continued improvements in group and independent business travel, are expected to drive Revenue Per Available Room (RevPAR) to record levels in 2023, according to a forecast by CBRE​.
  • Etihad Airways' Airbus A380 Returns to Service: Etihad Airways celebrated the return of its Airbus A380 on its popular route between Abu Dhabi and London Heathrow. The return of this superjumbo comes with enhanced seating in both Economy and Business classes, providing more legroom and comfort for passengers.
  • Virgin Atlantic's Plans for 100% Sustainable Aviation Fuel (SAF) Flight: Virgin Atlantic and Rolls-Royce conducted a successful ground test of a Sustainable Aviation Fuel (SAF) blend on the Rolls-Royce Trent 1000 engine, marking a significant milestone towards the operation of the world's first 100% SAF flight.