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Business Travel Association to overhaul pricing structures
The Business Travel Association is fast-tracking its review of pricing structures following the ‘devastating impact’ of the coronavirus pandemic on the sector.
The BTA said pricing modules developed ‘over a quarter of a century ago’ remain in use today, with ‘growing calls for evolution’ in the way Travel Management Companies price their services.
A consultation was originally planned for 2021 but brought forward due to the ‘devastating impact of Covid-19 on the business travel sector’.
The consultation paper – developed with insight from representatives from leading UK-based corporations and travel management companies – will look at three industry pricing modules: transaction, subscription and management fees.
In the coming months, the BTA will consult with the business travel industry on each of the pricing models to develop new industry standards to ensure any new approach to pricing is rolled out effectively and with best practice.
BTA Chief Executive Officer Clive Wratten said: "In recent years, there have been growing calls for evolution in the way TMCs price their services. The impact of Covid-19 on our industry has made that need more vital than ever, and the BTA is committed to leading the industry with this catalyst for positive change.
"For our industry to evolve, especially in these challenging times, there needs to be an open, honest and constructive dialogue between all of the key stakeholders, and that is what the BTA will be seeking to achieve in the weeks ahead."
By Louise Longman, Contributing Editor (UK)
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