We know that many business travelers have booked outside of company channels at least once in the past year
But, why do travelers book elsewhere?
- Hotel loyalty points?
- Better pricing?
Four reasons why non-compliance with travel policies is a problem?
- It's a budget buster
15% of travel over-spend can be reduced by enforcing your policies
- It wastes time
The average time a travel buyer dedicates to reconciling travel and expense data each month? 40 hours.
- You lose leverage
Travel policies realize an 8% increase in negotiated rates when companies guarantee 100 rooms/year vs. 150 rooms/year.
- It increases risk
60% of business travelers go untracked by their company when they book direct.
The secret to boosting your hotel attachment rate?
Q: So, what is the secret to boosting your hotel attachment rate?
And here is the proof: CWT offered travelers 1,000 bonus hotel loyalty points per eligible booking for two months.
- Hotel attachment increased 12% during the promotional period
- Attachment grew another 3% after promotional period
Sources: Global Business Travel Association/Concur, How Traveler Booking Behaviour Impacts Safety. CWT Solutions Group, Behavior Management: a new way to think about an old problem. Sabre: How Much Time are Travel Managers Wasting with Reconciliation? CWT Solutions Group: Best Available Rates Savings by Region. This data is for informational purposes only. Your results may vary.