Study finds Executive Travel rates save $20.65 a night (18%)
Executive Travel has just completed a comprehensive study comparing the hotel rates offered by Expedia to hotel rates negotiated by Executive Travel on behalf of their corporate customers and found that the Executive Travel negotiated hotel rates saved $20.65 a night compared to the Expedia hotel rates for the same properties and dates of stay.
Steve Glenn, Chairman & CEO of Executive Travel said, “We decided to take the “Pepsi Challenge” and see if the hotel rates Executive Travel negotiated for our corporate customers were competitive with those offered by the giant travel web site Expedia. Not only were our rates competitive but we blew them out of the water on both price and amenities.” Glenn said the study should emphasize to corporate travel managers that companies allowing travelers to book outside of a comprehensive hotel travel management programs like those offered by Executive Travel are throwing away thousands of dollars.
The hotel study was performed the week of May 23, 2016 and compared ETI negotiated corporate hotel rates in 51 random cities to those offered at the same hotel properties by Expedia. In the 51 cities, the Executive Travel negotiated hotel rates were lower than Expedia in 44 (86%) of the 51 cities. The average ETI hotel rate for all 51 cities studied was $93.76 a night compared to Expedia’s rate of $114.41, a savings of $20.65 a night or 18%.
Bill LaPeer, Chief Commercial Officer of Executive Travel commented, “After reviewing the results it is also important to note that not only are there significant savings in having Executive Travel negotiate hotel rates for companies but companies and their travelers also benefit from additional negotiated amenities such as free breakfast, parking, Wi-Fi, airport transfers, and room upgrades that are often not included in the Expedia hotel rates. Add to that we make sure that our negotiated hotel rates include LRA (Last room availability) so that when a hotel fills up the low negotiated rates are available even when the hotel is filling up and their prices are rising.”
LaPeer also explained that one of Executive Travel’s key differentiators is our Hotel Program Development and Management. “Our clients average an industry leading 77% hotel attachment rate. One of the key success factors of our programs is achieving a balance between the needs of the various stakeholders i.e. price, location, and amenities so travelers use the negotiated hotel travel program instead of going rogue. Let’s not forget the Hotel Suppliers as one of the key stakeholders. Clients are meeting and often exceeding market-share goals and are being rewarded by their hotel partners with more favorable rates in subsequent years. It is not uncommon for Executive Travel clients to recognize greater savings in years 2 and 3 of their program in the range of 15 to 20%