Nov 10 2008
The Economic Crisis Goes Coach
The days of comfortable leather seats and glasses of wine are over now that the economic crisis has really settled in.
CFOs are tightening the belt and avoiding travel when possible for their employees, and when they must travel, their going coach, no business class.
“Corporations are definitely taking a fine eye toward their travel budgets,” Casto said. “There’s no more business class and no more three-star hotels — now it’s coach with connections.”
Even these less luxurious travel agendas are coming under scrutiny, with many new layers of approval required before a trip is signed off on.
Hotels are feeling the change as well, as large corporations are using their power in preferred hotels and more economical options.
