ASTA Study Reveals Especially Tough Times for Corporate Agencies

ASTA reported that 78.2 percent of member agencies saw declines in revenue in the first six months of this year, compared with the same period in 2008.

The Travel Agency Business Trends survey also showed that 75.2 percent agencies reported decreased transactions for the first six months of 2009. ASTA said 63.6 percent reported a drop in the number of clients booking trips in the six-month period.

ASTA said the research showed that corporate agencies were hit particularly hard and are not expecting any recovery until next spring or later. Leisure agencies expect to recover early in 2010, said ASTA.

To deal with revenue losses, 76 percent of respondents said they cut operating costs and 54 percent took less pay.

More than half said they had no plans to make staffing changes, although corporate agencies were more likely to say they had such changes in mind.