Corporations taking advantage of current market conditions, including a slower third quarter at many hotel chains, can cash in on a favorable pricing leverage, according to an analysis by BCD Travel. Rebooking hotel rooms when hotel rates fall is becoming an increasingly critical component.
With hotels becoming increasingly sophisticated in revenue management, and online travel agencies like booking.com and Expedia pursuing aggressive pricing strategies, corporate travel programs have opportunities to keep hotel costs down. BCD and TRIPBAM found that despite hotel-rate volatility, corporate travel buyers can save on hotels by focusing on three key areas:
- Providing access to great hotel content through their corporate booking options
- Managing hotel spend dynamically throughout the year
- Rebooking hotel rooms when rates fall
"The current hotel pricing environment provides great opportunity for savings for corporations that creatively seek them out," said April Bridgeman, senior vice president of strategic marketing at BCD Travel.
Get the full story at BCD Travel