Sourcing

In corporate travel, sourcing is all about negotiating deals with airlines, hotels, car rental companies and other suppliers. Of course, organizations want to get the best value, but travel procurement is about more than price. It’s also about using data to monitor performance on both sides, working with intermediaries, building deeper relationships and exploring new technologies that improve processes.

Some examples
Extending or renegotiating contracts
• Assessing marketshare and volumes
• Hotel RFPs, rates, LRA and security
Political and social considerations
Working with intermediaries

Consultancies Advocate Rightsized TMC Sourcing

Festive Road is a travel consultancy for the social media age. It’s got excellent communicators. Heck, it has The Company Dime as a partner. [UPDATE, 2019: Festive Road was a marketing and content partner for The Company Dime’s 2016-2019 Teleconference series.] When it comes to TMC sourcing, the U.K.-based firm’s announcement this week of a simpler…

GBTA May Add Airbnb To Hotel Sourcing Tool

GBTA will consider “all forms of accommodations” for a forthcoming update to its hotel request for proposals template. Aiming to complete the update in time for 2019 rate negotiations, GBTA will establish a volunteer task force to determine which new elements to incorporate, according to an association official. Bringing home-sharing into the annual hotel RFP…

New Hotel Cancel Policies Not ‘Fine’ By Customers, But Greater Negotiated Value Offers Silver Lining

The reception to some hotel chains’ new 48-hour cancellation rules has been “perfectly fine,” according to Hilton Worldwide CEO Christopher Nassetta. “Nobody likes incremental restrictions on the flexibility of reservations, but I think most customers understand that we’ve got a need to manage our inventory and avoid walking people,” said Marriott International CEO Arne Sorenson. “As a…

Serviced Apartments Play Host To A New Dynamism

Airbnb’s continued buildout of corporate travel capabilities has awoken the sleepy serviced apartments sector. New investment capital supports startups for bookings, sourcing and property management. Traditional operators are creating their own distribution platforms. Design norms are shifting along with client expectations for something interesting. Useful for relocation, internships, project work, insurance services and emergencies, serviced…

Marriott’s 48-Hour Cancellation Policy To Affect 2018 Rate Negotiations

[UPDATE, Dec 22, 2017: Hyatt’s new “default” cancellation policy, effective January 1, 2018, will require customers of its various brands to cancel at least 48 hours in advance of their planned stays to avoid a fee. “Because each Hyatt hotel may continue to set its own cancellation policy based on local market dynamics and expectations,…

Teleconference 12: Corporate Airline Relationships

Corporate Airline Relationships Sept. 14, 2017 There’s rarely a dull moment in the world of airlines. It’s a supplier segment that underwent radical changes in the past decade, from mergers and joint ventures to new business models and all sorts of new approaches on pricing, product and distribution. Some things, though, don’t change. Big airlines want more…

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