With the help of Jim Tennant of The Tennant Group and Michael Meyer of Rate-Highway Inc., we are conducting rate surveys on a weekly basis and providing analysis and comments where appropriate. We publish this monthly recap in our electronic edition and more comprehensive looks in the print editions.
After a flattening and small upturn in rate quotes in March, April, and May, rates turned down slightly in June. The June 24 weekly survey (done at 9 a.m. the day after the Brexit vote) was only down $0.08 from the previous year, so not surprisingly the vote results had no immediate effect on rates.
However, the turmoil in Europe has already weakened both the English pound and the euro, which can’t be good for inbound overseas travel. Our previous optimism over summer rates may have been overtaken by events.
The Northwest and Southwest averages continue to show strong year-over-year gains,and the Northwest had the highest average at $75.97.