Hotel average daily rates took a hit in many markets over the past couple of weeks as cancelations rolled in. That means deals for those traveling for business. However, it also throws the relative position of negotiated corporate rates out of whack. Travel procurement professionals and hotels are reconsidering not only the pricing that many of them only just settled on for 2020 but also various parameters around those rates.
Buyers spoke to The Company Dime on the condition of anonymity. They reported some success in getting preferred hotels to reduce rates and adjust minimum . . .