(BPT) - Small business owners are expert planners, which means they've already started thinking about fall travel. Business travel has been steadily on the rise, with corporate travel spend projected to reach 55% of 2019 levels by the end of this year, with further growth into 2023.
Planning ahead with the right tools, like credit cards designed for small business owners (ex. the World of Hyatt Business Credit Card*) or integrative planning apps, is key to smarter travel. Whether you have a packed conference schedule through end-of-year or are looking to book meetings with an out-of-state client, below are must-know trends for fall business travel to help set you up for success.
Live conferences are back in full swing. Book in advance to save your spot (and your money).
The return to in-person conferences was widespread this past year. Popular events like SXSW transitioned back to a live format in 2022 and others, like TechCrunch's Disrupt, have already announced plans to return to in-person this fall. In fact, earlier this year a whopping 96% of planners reported they're organizing events throughout 2022, which means there's plenty of events on the horizon. With this in mind, the earlier you plan ahead for booking conference travel, the better. Many events offer 'early bird' specials, with decreased pricing on tickets when purchased in advance. Plus, booking earlier ensures you secure your ideal flight and hotel itinerary before they start to sell out. Consider downloading an integrative planning tool, like Any.do or Todoist, so you can set reminders for these key dates in advance.
Look into credit cards specifically designed for small business owners to earn points on existing expenses towards future travel. For example, the World of Hyatt Business Credit Card* has an adaptive accelerator which helps small business owners earn two Bonus Points total per dollar in their top three of eight spending categories each calendar quarter through 2023 (recently extended from 2022), then top two of eight categories in 2024 and beyond. These categories include common business expenses like shipping, dining, advertising and social media, and gas station purchases, making it easier than ever to accumulate and there's is no cap on the Bonus Points that can be earned. By understanding your existing budget and using tools to maximize your spend, you can make room for more travel.
'Hybrid' business trips are back on the rise.
The popular trend combining business and leisure travel (or 'bleisure') is reemerging. Small business owners are constantly on the go, so tacking on a few days for exploring, visiting friends or relaxing in a new location can be an ideal way to maximize existing business trips and still prioritize self-care.
Sometimes 'bleisure' can be as simple as splurging on a luxe hotel (like one of 45 Park Hyatt hotels globally) or a hotel spa treatment. Even better, some credit cards like the World of Hyatt Business Credit Card* offer significant plus-ups so you can travel more luxuriously, even if it's just for business. For example, new cardholders can earn a welcome bonus of 60,000 World of Hyatt Bonus Points (equivalent to up to 12 free nights at a category 1 Hyatt hotel or 2 free nights at a category 7 Hyatt hotel or resort) after spending $5,000 within the first three months from account opening. Plus, if you apply by October 6, 2022, and get the card you can receive two Tier-Qualifying Night Credits per eligible night from August 23, 2022 through December 31, 2022, providing a head start towards World of Hyatt elite status and more. When you're a busy small business owner on the go, even minor travel pleasures can make a huge difference and the right credit card can help keep those luxuries in your budget.
'Digital nomads' are turning travel into a lifestyle.
Workplace norms have shifted majorly in the past year - for small and large businesses alike. More and more business owners are making the world their office, which means they're traveling regularly for long- or short-term stays and have the ability to work from anywhere. While this lifestyle isn't for everyone, more individuals are adopting this work style, and sometimes with higher cost savings.
For those who use credit cards like the World of Hyatt Business Credit Card* to book their rooms, Hyatt hotel stays can earn them up to 9X Points total per eligible dollar spent for Hyatt stays and experiences. This includes 4 Bonus Points earned per dollar spent with your card at Hyatt hotels, including participating restaurants and spas, plus 5 Base Points per eligible dollar you can earn from Hyatt as a World of Hyatt member. When using the right credit cards, the more you travel, the more you earn towards future travel.
We're anticipating an exciting fall for business travelers, thanks to more in-person events and flexible work environments. Planning ahead with smart tools can set you up for success (and more travel!) in the months ahead.
*Accounts subject to credit approval. Restrictions and limitations apply. Cards are issued by JPMorgan Chase Bank, N.A. Member FDIC.