"Practical" replaces "memorable" for business events

01/27/2009 | USA Today

The "AIG effect" is the latest trend in business travel as companies pare down their meetings from splashy events in exotic locations to more modest events in less-expensive destinations. The shift is affecting employees as well as travel planners, hoteliers and other travel suppliers who form their business models on these types of trips. "There's not many companies out there that want to see their name on the reader board in a four-, five-star hotel nowadays," said Bjorn Hanson of New York University.

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