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.
[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,…
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…
Many travel management companies and tech firms are working to process more of their clients’ hotel bookings. Continuing its push, Carlson Wagonlit Travel is rolling out a simplified rate aggregation system and using loyalty points as incentives. During a Wednesday interview, CWT president of hotels Scott Brennan said some clients in Europe that use the…
Blockchain digital ledger technology could be used for loyalty programs, corporate contracts, payment, expense management, airport processing, traveler identity and maybe even travel policy and compliance. Innovators also are betting on distribution disruption. With tests beginning in about three weeks, Blockskye aims to shift the power in distribution “back to hotels and airlines” by enabling…
Companies that do not audit hotel rates and availability are leaving piles of cash on front desks, according to BCD Travel analysis of client data. Without standard rate audits, a firm spending about $20 million annually on hotels overpays them by $490,000, the travel management company found. The same client would save about $900,000 per year using both rate and availability audits….
Topaz International CEO Brad Seitz is leaving the travel auditing company he led since 2003 to build resources for corporate travel pros. The idea is to do some consulting, create a buyer community, conduct research and, along with Fox World Travel, formulate an education curriculum. The last part would address both newbies and those looking…
Prism data is the basis for corporate deals with the big U.S. network airlines. It will be for the foreseeable future. But it has limitations. The Airlines Reporting Corp. designed new tools for corporate buyers and agencies that better detail activity and marketplace benchmarks. This can prepare them for contracting. In an early use case…
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