Airfares and hotel rates for corporate travel each have stabilised this year, and companies are getting bigger discounts on negotiated airfares, according to a report published on Wednesday by Emburse Travel Analytics.

The report ¨C based on corporate booking data from Emburse on a 12-month average basis through April 2025 from North America, EMEA and APAC ¨C shows an average market airfare of $724, $1 lower from the same period a year prior.

The average negotiated airfare, however, was $602, down 4.6 per cent year over year. That widened the gap between negotiated and market airfares to 16.9 per cent, up 3.9 percentage points year over year.

For domestic travel, the average negotiated economy fare for the period was $406, compared with an average market fare of $459, and negotiated rates made up 93 per cent of domestic air bookings.?

On international flights, the average negotiated economy fare was $646, compared with an average market fare of $710, and 59 per cent of bookings used negotiated pricing, according to Emburse.

For hotels, the average booked daily rate for corporate travellers during the 12-month period was up 1.4 per cent year over year to $209, a nearly 21 per cent discount off the average market rate of $264, the report indicated.?

Cities with the largest year-over-year increases in average booked rates include Basel, Switzerland (up 13 per cent); Copenhagen (up 12 per cent), Stockholm (up 7 per cent); Boston (up 6 per cent); and London (up 5 per cent).?

The biggest declines included Barcelona (down 9 per cent); New Orleans and Hong Kong (each down 8 per cent); and Fort Worth, Texas, and Scottsdale, Arizona (each down 7 per cent).

Cities with the largest growth year over year in room nights for the period include Bengaluru, India (up 39 per cent); Boston (up 23 per cent); New York (up 21 per cent); and San Francisco (up 20 per cent).