Pricing power for lodging suppliers, an altered traveler profile and uncertainty on the buyer side created unusual outcomes for 2023 rate negotiations. At some Hilton properties, this meant refusing to offer static negotiated rates and walking away from business. As customers sought to move rate programs back to the traditional static structure from a dynamic…
As it and several other hotel companies did last year, Marriott International told corporate accounts it would roll over current-year negotiated rates to next year and bypass the request for proposals process. Some companies last year agreed to that approach but others held out and insisted on negotiating new rates. The hotel company is getting…
A trio of corporate travel buyers last week addressed their concerns about continuity in the travel supply chain, acknowledging that suppliers are in a rough spot. Hotel staffing is an issue. Would-be car renters can’t find cars. Airlines are more focused on leisure routes. Much of it is temporary, but potentially impactful to trip productivity…
In January and February of last year, Tripbam clients made about 80 percent more bookings with Marriott properties than they did with Hilton brands. In April, Hilton surpassed Marriott as the top hospitality company booked in the United States by corporations that use Tripbam, and it’s been that way ever since. During January 2021, Tripbam…
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…
Lodging industry performance reports and forecasts published this week by research firms showed continued weakness. They are the latest data points reflecting or predicting a general softening, including for business travel. For the week ended Nov. 17, STR reported lower U.S. occupancy (down 1.9 percentage points year over year to 64.2 percent), a slightly lower…
Chicago — The next economic recession always is a matter of when. Currently in a 10-year run of strong performance, the travel industry is starting to produce indicators suggesting a downturn may come sooner than later. There is a full basket of complications, topped by a simmering U.S.-China trade war. Adding uncertainty are Brexit, multiple…
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