Current business travel volume is about 30% of 2019 levels and average daily hotel rates remain lower as well but are increasing.

The figures from Tripbam's second-quarter market report also reveal global market hotel rates are up 10% month over month and are on pace to reach 2019 levels before year-end if they continue on that trajectory. 

For travel buyers, "now is the time to hustle and get deals in place, or you could have a real challenge later this year," said Steve Reynolds, Tripbam's founder and CEO, during a Thursday webinar reviewing the report's results.

"I would say no later than the first quarter of next year, 2019 rates are here. In several markets, we're seeing rates higher than 2019."

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