Business travel is bouncing back. U.S. companies are forecast to spend 5 percent more on travel in 2011 than they did last year-a sign of confidence in the economy that is giving a boost to airlines, hotels and rental-car companies. That’s double the growth rate from 2010, which followed two years of decline.
Last year’s bump in business travel-in which companies spent an estimated $228 billion-helped U.S. airlines post their first collective profit in three years. And profits are rising at hotel chains like Marriott and Hyatt and rental-car companies like Avis and Hertz.
