1、Ground Monitor 2023-2024GBT Travel Services UK Limited(GBT UK)and its authorized sublicensees(including Ovation Travel Group and Egencia)use certain trademarks and service marks of American Express Company or its subsidiaries(American Express)in the“American Express Global Business Travel”and“Americ
2、an Express GBT Meetings&Events”brands and in connection with its business for permitted uses only under a limited license from American Express(Licensed Marks).The Licensed Marks are trademarks or service marks of,and the property of,American Express.GBT UK is a subsidiary of Global Business Travel
3、Group,Inc.(NYSE:GBTG).American Express holds a minority interest in GBTG,which operates as a separate company from American Express.2023 GBT Travel Services UK Limited.Powered by Global Business Consulting Ground Monitor 2023-2024Ground Monitor 2023-202423Forecasting is never an exact science,but wi
4、th high-quality data,deep industry knowledge,and a proven model it is possible to make well-founded projections.Ground Monitor forecasts global car rental prices for the period April 2023 March 2024.The forecasts are accompanied by analysis from GBCs team of ground transportation specialists.To gene
5、rate the forecasts,Amex GBTs data team used Prophet time series modelling.The core data was extracted from Amex GBTs data lake.Synthetic data was generated for 2020 and 2021.Exogenous factors included inflation,gross domestic product(GDP),unemployment,and oil prices.The model was tested against actu
6、al price moves.Outlier data was treated using an advanced data science technique called Isolation Forest.Each price forecast is a weighted average to reflect the mix of car types used in each city.Prices are in local currency.For brevity,the term“ground program owner”is used throughout Ground Monito