Resource Helps Solve Industry Challenge and Saves Companies Money
CONTACT: Caleb Tiller | 703-684-0836 Ext. 138
Alexandria, VA (April 21, 2005) -- The National Business Travel Association (NBTA) Hotel Committee today released a paper that provides information for corporate travel managers on ensuring the hotel rates they negotiate on behalf of their companies are properly loaded in the global distribution systems (GDSs) corporations and travel management companies use to access travel content and book travel. The rate loading challenge is significant for businesses, as hundreds of thousands of dollars are potentially wasted when hotel rooms are paid for at prices higher than negotiated corporate rates.
“When the rates corporate travel managers and hotels negotiate over a multi-month process are not properly loaded so that they can be booked at the point of sale, companies are leaving money on the table,” said Brian Nichols, Chair of the NBTA Hotel Committee. “This is the first how-to for travel managers on addressing this ongoing challenge in the industry.”
“While there is no way to measure the exact amount of money lost each year due to improperly loaded rates, we estimate the annual total of corporate negotiated discounts at $1.5 billion, all of which is potentially lost to rate loading errors,” added Sam J. Schisler, Vice Chair of the committee.
Rate Loading: Strategies for Buyers and Suppliers provides a checklist for travel managers to guide them through the entire rate-loading process step-by-step, with information on understanding and communicating the roles, responsibilities and requirements of the various parties involved in hotel rate loading: travel management company/online booking tool, hotels, third party consultants & RFP processors. It also includes a rate loading instruction template for travel managers to provide to hotel suppliers, a glossary of relevant terms, and a list of third party resources.
The paper can be accessed by NBTA members on the NBTA website. Members of the media can obtain a copy by contacting Caleb Tiller at 703-236-1138 or ctiller@nbta.org.
The National Business Travel Association is the source for critical information on the business travel industry. For more than 35 years, NBTA has dedicated itself to the professional development of its members through advocacy, education and training, and networking opportunities. NBTA represents over 2,500 corporate travel managers and travel service providers, who collectively manage and direct more than $170 billion of expenditures within the business travel industry. For more on NBTA, visit www.nbta.org.
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