Many hotels have also been forcing business travelers to pay a premium. But that will have to change. For example, more business travelers than leisure travelers stay at inner city hotels. Leisure travelers are much more inclined to bunk in with a friend or seek out a low-end hotel. So the middle- to high-end hotels will get squeezed. Business travelers know that if they go into a hotel, walk up to the front desk, and ask for a deal, they'll get the cheapest rate. Because the clerk knows whether there's excess inventory, and if they can sell it, they will.
How else will the travel industry change?
Two things will happen. First, some airlines and hotel chains will go out of business. There will be considerable downsizing, and consumers will have fewer choices. Business travelers won't get the same break that they did in the '90s. And the power will be put back into the hands of the travel industry. At the same time there's major pressure on corporations to minimize travel. So with the enormous advances in technology that will continue, there will be more telecommuting and teleconferencing. Especially considering how much time flying eats up since 9/11. Many companies just can't afford to lose that productivity.
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