It used to be fairly straightforward to book a preferred hotel. You negotiated your deals. You could count on them. But those days are gone. Increased sophistication in hotel yield management has created an environment where rates, amenities, and availability are always in question. And hotels themselves now go to business travelers, which, in essence, cannibalizes negotiated deals.
The landscape of hotel sourcing has changed. Corporate buyers now have to contend with challenges like supplier consolidation, fluctuating rates and business travelers that act as consumers. The industry isn’t static, so your approach can’t be either. Your ability to integrate a dynamic approach into your hotel program management strategy has never been more important. But what is it, how does it work and how do you get started?