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Luxury Travel on the Rise

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  • Description

    Ovation Corporation Travel CEO Paul Metselaar weighs in on the state of the high-end travel business.

  • Duration 2:32
  • Date

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And my next guest says that high end travel is on the rebound as more businesses slowly but surely send their workers back out on the wrote.

Joining me now for this week's on the road segment is Paul -- so -- sealed ovation corporate travel which runs corporate travel department.

So good travel visited -- long -- then suddenly like in July said August you see something happen what is it.

Yes well we're somewhat of a leading indicator because we have a tremendous amount of business -- -- financial services and legal industries.

And now all of a sudden things are starting to percolate since.

The summer actually up 3% since August that your company books 600 million dollars a year just an air flights on mates were wiped out by the web.

What do you think is the reason behind this sudden -- purchasing.

I think that a lot of the -- some of the uncertainty is being wrong that of the economy our clients are the ones that are at the forefront doing deals.

Traveling business to all over the world to global locations and I think that they're thinking that Europe is going to work its problems out.

And the election that's coming up I think there is starting to get a little more.

It's sort of below whatever the outcome -- -- so basically businesses in the big financial service -- it sounds like they're banking on Obama when -- side we'll just adjust and act accordingly -- I think that -- concern is more let's get this over with because the uncertainty is.

You know who's gonna be the next president but also you know let's get this behind us and so once that's wrong out.

They're gonna start moving around a lot more and we've seen that a significant -- since.

I would say since the beginning of August they make an interesting point here you say that.

Regardless of which candidate wins Obama or Romney that the travel business bulls suddenly take off.

Yeah why is that because I I think that they're just there's so much waiting the so what we've been so much nervousness.

About what's gonna happen you know post election and I think a grand bargain is gonna have to be made and once that happens the matter who was elected.

Going to be a lot more certainty do you get the feeling.

Paul that we in the middle palace slingshot economy that we've been pulling back and pulling back and waiting so long to finally start spending at some point -- because up no matter what happens to taxes absolutely -- -- we we have been just waiting and indeed you know that the market.

Is under -- -- by housing and once housing is those -- improve I think everything else sort of falls into place.

No I'm I'm very optimistic going far right that is a very interest -- uncommon indicator thank you so much for being with -- Paul that's a -- my pleasure -- -- --

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