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Corporates must switch focus to hotels, say CWT
Companies are failing to drive down costs of hotels despite the sector representing up to 40% of their total travel spend, a report by Carlson Wagonlit has said.
While travel buyers have made “significant strides” in airline cost savings, few have applied the same focus to hotels, it said.
The report came as CWT forecast that most businesses will face a 6% rise in hotel rates at the beginning of 2006.
“Corporate travel managers are under constant pressure to reduce costs and much of their efforts to date have been focused on the largest segment of travel spend – airline tickets – where [they] have made significant strides in cost savings,” the report said.
“By applying some of these same strategies to their hotel programme, which is usually 30% to 40% of a company’s travel spend, savvy corporate travel managers can achieve new levels of cost savings in a typically under-managed area.”
The report added that airline-yield management strategies adopted by hoteliers may prove beneficial for hoteliers but the value for corporates has “yet to be proven.”
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