Business Travel Direct’s Clients Save on Hotels via tripBAM Technology
Business Travel Direct’s clients are achieving average savings of up to £28* per night on hotel stays since the company became the first UK TMC to partner with TRIPBAM. More than a dozen of Business Travel Direct’s clients are using the technology company’s unique services to shop for lower hotel rates, utilise more preferred properties and identify potential savings.
As recently as January 2016, TRIPBAM found savings on 36 per cent of bookings when comparing rates at the same hotel and a cluster of hotels around the one chosen by the traveller or dictated by travel policy. Even when shopping solely at the same l hotel where the original booking was made, savings were found on 12 per cent of bookings, representing an average saving of £19 per night.
In the coming months TRIPBAM is introducing several enhancements that Business Travel Direct will again be the first UK TMC to implement.
Business Travel Direct is particularly excited about the new Benchmark Rate Capture and Negotiated Rate Auditing features, providing procurement and travel managers with quality data showing actual savings and the ability to measure the strength or weakness of their negotiated rates.
The Benchmark Rate Capture enhancement captures the best rates it finds for the same hotel or cluster hotels and enables corporates to determine the competitiveness of negotiated discounts against market rates.
The Negotiated Rate Auditing function identifies preferred hotels that are not honouring their last room availability (LRA) commitments and highlight where best available rate discounts are not being calculated correctly.
New TRIPBAM automation automatically rebooks the traveller at the same hotel when a lower rate is found. The system monitors rates right up until the day before the traveller leaves for their trip. It can also identify any fixed, non-refundable rates, which can mean greater savings and the inclusion of more commissionable rates.
Lastly, TRIPBAM is improving data capture to help increase conversion to preferred hotels. The system captures data when corporate policy compliant hotel offers are declined, as well as when bookings are made directly with a hotel. The system responds to flight bookings made without a hotel stay by sending preferred hotel offers based on corporate policy.
Julie Oliver, managing direct of Business Travel Direct, comments: “Our partnership with TRIPBAM is an unequivocal success. TRIPBAM is a great example of how technology can be integrated seamlessly and bring benefits for clients who are making substantial savings without any changes in the way they book or manage their travel.
“We are excited about the new enhancements which for the first time will provide travel managers with quality data on actual savings and benchmark their negotiated rates to see just how well they perform against market rates.”
“Business Travel Direct has led the way for TRIPBAM in the United Kingdom,” said Steve Reynolds, founder and CEO of TRIPBAM. “Procurement managers gain not only from daily rate savings, but from the rich trend data TRIPBAM generates that can put a microscope on which hotels are holding to their LRA and rate commitments. This data is vital for monthly reporting and eventually for more candid annual rate negotiations with preferred hoteliers.”
* Average savings of £28 per night identified during January 2016.