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…
Travel suppliers are reeling from the coronavirus outbreak. Many executives feel the reaction is overblown, but there’s not much they can do. Industry professionals are working on operational responses. They’re enabling support staff to work from home and considering whether force majeure clauses apply to failed contracts. As with previous shocks to the business travel…
Coupa acquired Yapta, the thirteen-year-old hotel and airfare price assurance firm named for “Your Amazing Personal Travel Assistant.” Yapta had raised more than $25 million between 2007 and 2015, including several million from SAP Concur and $2 million from Amadeus Ventures. Evercore ISI equities analyst Peter Levine made a “very rough” estimate for the value…
Re-shopping booked airfares is nothing new in corporate travel. Front-end fare predictions are relatively common in consumer travel. A Tel Aviv startup now is enabling travel management companies to take advantage of fare predictions after booking but before ticketing. It claims it can save businesses substantial sums on airline pricing volatility. Consumer fare prediction tools…
BCD Travel acquired Milwaukee-based travel management company Adelman Travel Group, a member of the BCD Travel Affiliates program. Terms were not disclosed. BCD Travel in 2015 acquired World Travel Service and in 2017 raised its position in Acendas Travel. Last month it bought a majority stake in Japan-based partner Hitachi Travel Bureau. That followed investments…
Business travel startups face tough choices as they mature. TripActions and TravelPerk remain independent as their investors raise stakes in what is not a get-rich-quick industry. Others could be acquired by existing travel management companies. Then there is a middle ground. Some new entrants are attempting to leverage TMC partnerships even though that means sharing…
Popularized by Tripbam and Yapta, hotel rate assurance is now a common part of travel management. Dozens of travel management companies work with those firms to provide a hotel reshopping service and switch travelers to more favorable rates. American Express Global Business Travel decided to build its own system. So has Travel and Transport (which…
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