An unfortunate fact of the hotel RFP process is that little action is taken afterward to ensure the new rates are actually implemented and remain implemented. Neglecting to monitor corporate travel spend (with a specific focus on auditing negotiated rates) prevents many buyers from achieving their savings objectives from the entire RFP process. Smart Hotel Rate estimates that $14 billion is wasted each year due to incorrect rates. All corporate buyers and hotel suppliers want to have a relationship built on transparency and trust when it comes to rates.
The solution to achieving a strong relationship with hotel suppliers requires:
- Access to all booking data including non-agency purchases
- Automatic auditing against negotiated rates
- Communication to key people to quickly correct rate mistakes
In December 2021, we held a Traxo Travel Managers Office Hours webinar focused on how to avoid costly hotel rate mistakes after your RFP with PPD's Global Head of Travel, Jennifer Steinke, and Smart Hotel Rate's Head of Business Development, Michael Jacques.
Watch the "Travel Managers Office Hours: Avoiding Costly Hotel Rate Mistakes After Your RFP" webinar recording to:
- Have a clear understanding of how SHR supports the RFP process
- Learn how SHR automatically audits negotiated and dynamic rates to realize program savings goals
- Understand how Traxo provides captures all hotel bookings from both TMC and non-TMC sources and why this matters post-RFP
- See the benefits of using both Traxo and SHR together to audit all of your hotel bookings and proactively correct rate problems
To learn more about price assurance strategies, including supplier negotiations, rate auditing and re-shopping, download your free copy of Traxo's price assurance eBook below!