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Focus On… Saving money, even after you’ve booked

Oct 26, 2015

You might have heard us mentioning tripBAM© in blogs, or in our Travel SMART magazine, or you may have read about it recently in the press. Our recent partnership with US-based tripBAM is of particular importance to us as we were the first UK and European travel management company to integrate with their innovative technology that gives our clients a lowest-price guarantee for their accommodation. But what exactly is tripBAM, what does it do and how does it work?

tripBAM is essentially a hotel-rate shopping tool for travel managers. It’s that simple. When you book a room through Business Travel Direct, either using our online booking tools or by speaking to one of travel consultants, tripBAM automatically pulls the hotel data, including email address and confirmation numbers, through to its system, where it’ll continuously scan for a better price right up until the moment you check in. As I’m sure you’re aware, room rates fluctuate over any given period according to a number of factors; how many rooms the hotel has left to fill for the evening, what is happening within the area that may increase the demand for overnight accommodation, or last-minute cancellations. I’m sure you’ve experienced it yourself, either in business or leisure booking, where the room that you were planning on booking has double or halved in price seemingly overnight? Well that’s exactly the kind of opportunity tripBAM looks for. If at any point, the hotel room you’ve booked with us is reduced, it’ll let us know. We’ll determine whether the cost of the cancellation outweighs the potential saving, before passing it over to you to accept or decline the new offer. This technology will continue monitoring the rate for your booking until the day you check in, ensuring that you get the lowest price available, regardless of how far in advance you make the booking.

tripBAM Example

tripBAM’s capabilities go beyond simply checking the booking you’ve made at that  hotel, and you can actually secure savings at alternative properties within set parameters as defined by your company . tripBAM can scan the market for named hotels with in a set radius of the original booking, which have the like-for-like amenities and star rating. For example, if you make a booking at the Travelodge including breakfast in the price, and tripBAM notices that the Holiday Inn half a mile down the road, is £30 cheaper and also includes breakfast in the rate, then we’ll send you a notification to let you know, and you can choose to accept or decline this booking. The last few months have been spent trialling and testing the product, and running hotel bookings through the system to assess what savings opportunities there could be for our clients. The results were impressive, with an average of 33% saving when a cheaper rate is found on  a named hotel, and a whopping 55% on cluster hotels. We determined that on average, when an alternative rate is found,  the saving is  around £35 per booking. Over the course of the year, this could translate into significant savings for your company. All the saving opportunities are compiled into reports and used to amend future accommodation policy and adjust preferred programmes, aiming to provide complete visibility on the fluctuating hotel rate market, and give our clients comfort in knowing they can still achieve the best rate possible even if they book early.

Business Travel Direct firmly believes in investing in the right technology that can accommodate a more open-booking methodology. The trend in recent months to book on web-based based applications or find platforms outside of the preferred booking channels is largely driven by travellers believing they can find a better price. Whilst that’s more than understandable, we can now offer a hotel price guarantee that the price they’ve booked the hotel at, is the best price possible within travel programme and set parameters. tripBAM is not simply a cost-saving tool, but it could potentially be a means of encouraging compliancy.

In the next few months, our clients will be hearing from their dedicated Account Manager to discuss tripBAM, and we hope that they’ll be just as excited to hear about this product as we are. In the meantime, if you’d like more information on tripBAM then please do get in touch with the team and we’ll get back to you.