As the full cost of travel continues to be an emphasis for many travel managers, there is a significant and slightly manageable spend grouping that originates with an immeasurable array of hazards including traveler safety. When a hotel booking is attached to the airline reservation made with the Travel Management Company (TMC) or in the online tool, the traveler location details that are made available allows a corporation and its TMC to take immediate action during a crisis. If a hotel booking is made outside of the TMC program, these crucial tracking details are not available, which in a crisis can take needless time and expense related to finding the traveler. Many corporations are starting to use technology to increase hotel attachment and as such, they will push improved comprehension, produce instant savings, and decrease clear risks.
If a corporation improves its hotel attachment rates, there will be savings. The industry standard for hotel attachment is 50% and this rate can significantly impact a company’s bottom line, if this rate is increased even a few points. Corporations can benefit from the current market environment and rate volatility to increase pricing influence. The chance is emerging as buyers undertake hotel rate negotiations and companies’ CEOs are more than ever paying attention to controlling housing costs.
The following outlines three important possibilities for hotel savings:
- Delivering access to strong and comprehensive hotel content via corporate reservation choices.
- Controlling hotel spend all year and not just throughout negotiations.
- Tracking hotel rates and rebooking rooms when rates are reduced.
Acendas Travel’s Corporate Hotel Program is designed to provide our clients with quality hotel programs and explore all opportunities to achieve savings, duty of care, and high-functioning program management. Acendas’ RateWatch is our proprietary technology that brings hotel program savings through rebooking. We continuously monitor and analyze booked rates through the duration of a hotel stay. If a lower hotel rate is established, we contact your traveler for approval to rebook their reservation at the reduced rate and report the savings back to you. Our solution is to give your travelers the confidence they’re getting the lowest hotel rate and provide additional savings to you. We estimate that lower hotel rates are identified 10% of the time. In addition, our Hotel Check-In tool includes a notification process to ensure that your travelers are reminded to book a hotel, when a reason for not selecting one isn’t provided at the time of booking.
Want to know more about how Acendas’ Corporate Hotel Program can increase hotel attachment and lessen policy non-compliance, unmanaged spend, and security risks? Click below to download a flyer about our services or ask your Acendas Account Manager for more information.