Airfare, hotel rooms, and rental car prices all are rising this year, according to the Business Travel Monitor, which was released yesterday by American Express Business Travel. Domestic airfares are pricier now than they have been since year-end 2001, and one-way business travel fares have soared 13 percent in the second quarter of 2006, compared to Q2 2005. Economy one-way fares rose only 3 percent, while one-way business class fares are up 14 percent. Frank Schnur, vice president of consulting for the company, credits increases in air travel and higher fuel prices for the rise.
Hotels rates also are up, the report found. Domestic hotel rates rose 3 percent in Q2 2006, with the largest increases going to budget hotels, which rose 26 percent, compared to 12 percent for economy and 10 percent for deluxe properties. Car rentals also are up 4 percent.