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Major corporations opting for budget properties
More and more business travelers are staying in economy hotels to control costs, according to a recent survey of travel manager conducted by Runzheimer International.
“Although first-class properties continue to be used most often, economy-type hotel use is up 31% from the previous four years,” said Phyllis Schumann, Product Manager of Travel Management Services at Runzheimer. “Seventy-four percent of respondents reported that they have business travelers who frequently use economy-type hotels.” She added:
“There isn’t the significant difference between hotel types there once was. Since nearly all hotel types offer free high-speed internet connection and continental breakfasts as the norm, companies are saving money by putting travelers in lower cost hotels, without sacrificing service and traveler satisfaction.”
According to Runzheimer’s 2007 Hotel Negotiation Survey, lodging costs represent 30% of total travel and entertainment expenses, with the largest group of respondents spending between $1 million and $5 million per year.
Founded in 1933, Runzheimer International serves 60% of the Fortune 500.
Report by David Wilkening
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