Hotel demand continues to rise, empowering them to maintain pricing power. Not only that, but today hotels are using bigger, faster and more detailed data. This combination of high demand and a shift to a dynamic pricing model means tougher negotiations every season.
To improve your hotel program performance, and engage in these tough negotiations, you need to have a more progressive approach. There is no longer a true “off season” for hotel sourcing. By thinking strategically and consistently monitoring your program, you will have plenty of opportunity to level the playing field.
Below are just a few ways you can engage in your data all year long, and get the savings you deserve:
- Track savings with preferred suppliers including negotiation amenity savings and cost avoidance.
- Compare your average booked rates and dynamic rates against other hotels to benchmark.
- Aggregate travel patterns to get insight on spend patterns based on different days of the week.
- Isolate areas of misalignment between travel policy and actual company needs.
- Find gaps in compliance-to-contract terms by monitoring both compliance over time and compliance in your preferred markets.
- Identify service inefficiencies in your current program.
Contact Advito today to start making informed decisions and yield better results all year long.