Too many people consider hotel accommodation a ‘sunk cost’ of business travel – but it shouldn’t be that way.
Accommodation is a key part of our clients’ travel spend and we have the technology and expertise to help them accurately identify savings opportunities. At CTM, we invest heavily in delivering tools and services which maximise savings, including rate forecasting technology, access to pre-paid last minute inventory and tactical supplier negotiations.
Our insights are your advantage.
So how do we use our insights to our clients’ advantage? There are a number of opportunities.
Firstly, our continuous tracking of accommodation prices, as shown in CTM’s Bed Forecaster technology, gives our customers the edge by providing insights into pricing trends when planning their travel.
Secondly, CTM has been first to market with the integration of last minute hotel inventory into our online booking tools (OBTs), adding up to 150,000 global properties and over 200,000 special offers to their single source of booking. By integrating reduced, pre-paid hotel rooms alongside GDS hotel rates, our clients are achieving substantial savings and benefiting from enhanced supplier negotiations through greater trackable spend. This, combined with our partnerships with local accommodation providers, means our customers do not have to compromise on quality to achieve tangible savings.
“CTM has been first to market with the integration of last minute hotel inventory into our online booking tools”
John Balloch, CTM’s Head of Supplier Relations, explained: “Having a strong connection to local hotel providers gives CTM the ability to negotiate the best possible rate for our clients, securing significant savings that are not available through independent bookings.”
“CTM’s Preferred Hotel Program gives our clients access to special rates, benefits and inclusions that have been negotiated with our preferred hotel partners. Clients can also add any previously negotiated deals they have with hotels.”
“Understanding the full picture of our client’s travel profile is the key to identifying savings opportunities for them. This includes how many nights they are booking, when and where those bookings are taking place and any incidental expenditure from these bookings.”
“CTM’s Bed Forecaster technology allows clients to adjust their planned travel to avoid the pricing peaks and coincide with troughs in the market”
“Once we understand our client’s full travel account, we can negotiate the best arrangements, to maximise savings and still meet the needs of their business.”
Having the right level of expertise and experience in negotiating with hotels suppliers is paramount for achieving the best possible savings for clients. This includes understanding the ideal time of year to launch Requests for Proposals for accommodation suppliers to capitalise on market over-supply.
CTM’s Client Value Managers have this experience, and work with our clients to develop a hotel program that will maximise savings and deliver value to their business.
CTM’s top tips to better hotel negotiations
When working with clients to review and rationalise their hotel spend, CTM’s dedicated Client Value Managers will consider a number of steps, including:
- Reviewing and forecasting achievable room night volumes per destination
- Working with the client to consider consolidating room nights across fewer hotels, to maximise buying power
- Reviewing benefits for frequent travellers
- Negotiating discounted or free-of-charge value-adds for accommodation incidentals like meals
- Using CTM’s Preferred Hotel Program for destinations where clients may have reduced volume or no preferred suppliers, and
- Negotiating longer fixed-term agreements to further drive savings.
“Understand the ideal time of year to launch Requests for Proposals for accommodation suppliers to capitalise on market over-supply”
Providing your travellers with the rooms they want, while driving the savings your business need
With our hotel offering, you can offer your travelers more choice, secure the savings your program needs, and ensure duty of care for those who are on the road.
How does your organisation’s accommodation costs compare?
Make sure your hotel spend is delivering value for your business by talking to your account manager today.
If you’d like to talk to an expert about your hotel program, contact CTM today.