Companies ‘wasting money on hotels’, research reveals
Businesses are throwing away money on hotels because of poor travel management programmes, a survey has shown.
Corporate hotel and conference management organisation BSI said half of hotel bookings do not guarantee the best rate, 20% have no policy to govern spending while most bookings are made outside of the company’s official travel policy.
The study also revealed that less than 25% of firms know how much is spent on hotel bookings each year while one in four hasn’t reviewed hotel expenditure in the last two years.
BSI said by implementing a best rate guarantee, firms can save 15% of total expenditure with a further 10% to 35% saved by sticking to company policy and capping hotel rates.
BSI group managing director Charles Cockell said: “We have noticed many cultural changes in the trends of hotel bookers and this piece of research confirms just what we suspected – many are not managing hotel expenditure effectively.
“Airlines have been under scrutiny for many years with huge cost savings made on air travel as a result. However, as annual hotel expenditure can often exceed that of air travel, it makes sense to shift the focus.”
Vegas’s Billion-Dollar Secrets – What They Don’t Want Tourists to Know
Visit Florida’s New CEO Bryan Griffin Shares His Vision for State Tourism with Graham
Chicago’s Tourism Renaissance: Graham Interviews Kristin Reynolds of Choose Chicago
Graham Talks with Cassandra McCauley of MMGY NextFactor About the Latest Industry Research
Destination International’s Andreas Weissenborn: Research, Advocacy, and Destination Impact
Graham and Don Welsh Discuss the Success of Destinations International’s Annual Conference
Graham and CEO Andre Kiwitz on Ventura Travel’s UK Move and Recruitment for the Role
Brett Laiken and Graham Discuss Florida’s Tourism Momentum and Global Appeal
Graham and Elliot Ferguson on Positioning DC as a Cultural and Inclusive Global Destination
Graham Talks to Fraser Last About His England-to-Ireland Trek for Mental Health Awareness
Kathy Nelson Tells Graham About the Honour of Hosting the World Cup and Kansas City’s Future
Graham McKenzie on Sir Richie Richardson’s Dual Passion for Golf and His Homeland, Antigua
ADS PRO 
Phocuswright reveals the world's largest travel markets in volume in 2025
Cyclone in Sri Lanka had limited effect on tourism in contrary to media reports
Higher departure tax and visa cost, e-arrival card: Japan unleashes the fiscal weapon against tourists
Singapore to forbid entry to undesirable travelers with new no-boarding directive
Euromonitor International unveils world’s top 100 city destinations for 2025