Fares for air tickets sold in Europe have increased by 4% year on year, due to rising oil prices and constraints on capacity according to a new study.
Egencia?s 2011 Global Supply Benchmarking report shows that fares from Europe to US destinations increased sharply, with the average ticket price to Chicago up 13%, Los Angeles 9% and New York 7%. For European destinations, the average price increased by 9% to Munich, 3% to Dublin and by 1% to Frankfurt. However, fares to other European destinations dropped sharply, due to competition from low-cost carriers and new high-speed rail. Flights to Milan and Manchester were down 13% in price and to Barcelona by 11%.
The study also found that hotel rates were up in most markets, with Hong Kong showing the biggest increases (25%) in average daily rate (ADR).
ADRs in San Francisco were up by 17%, in Singapore by 16%, Dallas and Paris were up by 10%, in Amsterdam, Beijing, Frankfurt, London and Munich by 9%. Rates in Tokyo dropped by 15% and were flat in Delhi.
The company said, ?With corporate demand rebounding, higher air capacity than the year before, and improved occupancy in almost every top business market worldwide, average daily rates have increased in the majority of business destinations.?To receive our free weekly round-up of all news stories from our site, click here
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