Five Important Concepts to Managing Hotels Programs
Introduction
Hotel programs are an essential part of corporate travel. Companies must have the correct data and information to ensure their programs perform optimally. With better data and information, companies can improve their hotel program performance and make more informed decisions.
Improving Compliance
The first step in improving hotel program performance is ensuring compliance. Companies need to have clear policies in place and be able to monitor adherence to those policies. This means having access to detailed data and information about the hotels their employees are staying at and the rates they are paying. This information allows companies to identify discrepancies and take corrective action quickly.
Monitoring the Best Available Rate (BAR) and Knowing When to Renegotiate
A critical part of managing a hotel program is keeping track of the Best Available Rate (BAR) to know when to renegotiate their hotel contracts. Access to real-time data and information about the BAR allows companies to stay on top of the market and make the most of their hotel contracts. Corporations need to audit their negotiated rates and act when their rates are no longer competitive.
The Importance of Immediately Seeing How Much Money They Are Spending On Hotels
Companies should have access to real-time data and information about how much money they are spending on hotels. Having this information immediately available allows companies to quickly identify any areas of waste or overspending and take corrective action. Corporations that optimize their hotel program performance will save money.
Looking for Improvements
Corporations can improve their hotel program performance and save money by taking advantage of data and information. Companies should constantly look for ways to enhance their hotel program and use data and information to make more informed decisions. This can help companies make the most of their hotel programs and ensure their employees get the best possible travel experience.
Lagging and Inaccurate Data
Lagging and inaccurate data pose significant problems when managing the performance of a hotel program. When data is outdated or inaccurate, it can lead to poor decision-making and inefficiencies. Lagging and inaccurate data can make it difficult to optimize a hotel program and ensure it is performing at its best. Companies need access to real-time data and information about the hotels the company is are tingstaying at and the rates they are paying. Without up-to-date data, it can be challenging to identify any discrepancies or areas of waste or overspending. It can be challenging to know when to renegotiate contracts without accurate data and ensure their employees get the best deal.
Summary
Corporations that perform these steps can reduce their hotel spending by 10 – 20%, making this a strategically important operational consideration. Solutions, such as BTP Automation, help corporations better manage their hotel program by automating data collection and analysis and recommending corrective actions.
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