You have seen the headlines: the world’s economies face an unpredictable future. No one really knows for certain what will happen, but nearly everyone seems to be talking about what could. When the economy loses some of its momentum, organizations want to ensure they are prepared to adapt and minimize any possible risk.
When markets become turbulent, companies often do two things; freeze travel or cut advertising and marketing spend. We get it; they can’t turn off the lights to save money. But, research has proven repeatedly that taking actions that reduce sales and marketing activities result in lost sales. For every $1 invested in travel, companies realize $12.50 in incremental revenue. Source: U.S. Travel Association
Discover how to implement these eight must-do tips into your travel program to ensure your employees can still create value.
Satisfy your traveling employees
76% of business travelers are willing to take travel cuts, through class change or by taking connecting flights, instead of cutting out travel completely. CWT can help you implement and support travel while providing savings and keeping your travelers happy and safe.
Delve deeper into TMC pre-negotiated rates
Gone are the days where you settle for the best available rates. Say hello to Travel Management Company negotiated rates or our very own RoomIt Rates. RoomIt Rates include six business-friendly amenities (think free Wi-Fi and loyalty points), giving you more value for your money.
Third-party content provides competitive rates and coverage
Third-party hotel rates often meet or beat client-negotiated rates, and they increase the global coverage of hotel programs giving employees no reason to book outside of your hotel program.
Consider extended-stay options
Reduce your average daily rate by using extended-stay properties, which can be lower than traditional hotels. RoomIt has a selection of extended stay properties to choose from that are easy to book.
Get more for less
There is a rise of midscale hotels, with new mid-scale hotel constructions accounting for 72% of all construction projects within the US. Many offering employees better amenities like free Wi-Fi and breakfast, making them easy on travel budgets.
Use technology to save
Technology is your best friend when it comes to cost savings, but only when using the right tools. CWT’s intelligent display capabilities on booking channels and price optimization platform can help you save money on your travel costs. Plus, automated messaging also drives the use of preferred partners, lowering total travel spend. Engage with CWT’s virtual assistant to save time.
Find out more about price optimization
Travel more and earn more
Many employees find face-to-face interactions help them win business. Add to your bottom line by keeping revenue-generating teams on the road. In certain markets, like Latin America, building a personal relationship drives business success.
Better visibility drives bigger savings
Did you know over half of the travel buyers don’t know how much they spend on travel expenditures? Consolidating your expenses gives you better visibility and greater savings and helps you cut unnecessary expenses in transport, food and beverage costs. See how we can save you more.
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Find out what we can do for you
Savings, don’t stop there. Discover how we can save you even more money on your hotel program.