BCD Travel extends Hotel Price Assurance as standard offering — giving travelers and clients confidence that they’re getting the lowest hotel rates
UTRECHT, The Netherlands, Aug. 8, 2018 – Global travel management company BCD Travel is extending their best-in-class Hotel Price Assurance offering as a standard feature to all clients — giving travelers and clients confidence that they’re getting the lowest available rates when booking hotel rooms. The new offering is available as part of BCD’s TripSource Hotels offering at no cost.
BCD’s proprietary hotel platform integrates with TRIPBAM’s market-leading hotel price monitoring technology, which automatically rebooks rooms if rates drop between the time a room is booked and the cancellation period. The most sophisticated price monitoring tool in the industry, Hotel Price Assurance on average finds lower rates up to 8% of the time with average saving of $50 per booking.
A hotelier’s primary tool for controlling supply is price, and hotel inventory is perishable (if a room isn’t booked, it goes empty). For these reasons, room rates fluctuate drastically—sometimes daily—right up until the day of check-in. Hotel Price Assurance, the most sophisticated price monitoring tool in the industry, takes advantage of the fluctuations and rebooks when prices fall.
“Dynamic hotel pricing provides great savings opportunities for corporate travel buyers who have tools in place to take advantage of rate fluctuations,” said Yannis Karmis, BCD Travel Senior Vice President, Product Planning & Development. “Our decision to roll out a standard price assurance offering lets BCD clients begin saving immediately without waiting for the next budget cycle or having to first prove its value to their stakeholders.”
Another advantage of the standard offering: Hotel Price Assurance is ready to use “out of the box.” The standard product requires no complex settings or hidden configurations. Room-comparison rules used to monitor rates are clearly defined and based on client feedback and best practices. The service applies regardless of how the booking is made — whether using BCD’s TripSource traveler experience platform, a preferred online booking tool or through a BCD agent. Even incremental hotel savings, when multiplied across an entire program, can significantly accumulate over time.
For example, Abercrombie & Fitch has seen an average $60 per night reduction on hotel room rates when Hotel Price Assurance rebooks original reservations. The American Cancer Society has seen average nightly savings triple over the course of four months.
“Hotel Price Assurance, powered by TRIPBAM, provides corporate travel buyers the most powerful solution available today for capturing, measuring and managing hotel spend,” said Steve Reynolds, Founder and CEO of TRIPBAM. “This first-of-its-kind solution pairs fully automated hotel rate assurance with a fully automated rebooking service for a truly unique offering that is free to BCD clients.”
BCD Travel’s new standard Hotel Price Assurance offering will initially launch in North America before rolling out to other regions—monitoring hotel rates and rebooking like rooms based on a core set of savings principles. A Premium version, including advanced methods of shopping for lower rates, also powered by TRIPBAM, is already available in the U.S., Canada, Australia, United Kingdom, Ireland and Germany, and will soon be available in Switzerland.
About BCD Travel
BCD Travel helps companies make the most of what they spend on travel. We give travelers innovative tools that keep them safe and productive, and help them make good choices on the road. We partner with travel and procurement leaders to simplify the complexities of business travel, drive savings and satisfaction, and move whole companies toward their goals. In short, we help our clients travel smart and achieve more. We make this happen in 109 countries with almost 14,900 creative, committed and experienced people. And it’s how we maintain the industry’s most consistent client retention rate, with 2019 sales of US$27.5 billion. For more information, visit www.bcdtravel.com.
About BCD Group
BCD Group is a market leader in the travel industry. The privately-owned company was founded in 1975 by John Fentener van Vlissingen and consists of BCD Travel (global corporate travel management and its subsidiary BCD Meetings & Events, global meetings and events agency), Park ‘N Fly (off-airport parking) and Airtrade (consolidation and fulfillment). BCD Group employs over 15,900 people and operates in 109 countries with total sales of US$30 billion in 2019, including US$10.9 billion partner sales. For more information, visit www.bcdgroup.com.