How do I get corporate hotels rates?
Managing your company’s travel expenses involves strategic decisions, especially when it comes to lodging costs. One key avenue for significant savings is tapping into favorable corporate hotel rates. Hotels recognize the needs of their business clients and extend exclusive discounts, often starting at 10%. By exploring options and engaging in negotiation, you have the opportunity to secure even more advantageous corporate hotel rates, ensuring both comfort for your team and efficiency for your budget.
It is in the hotel’s best interest to offer business travelers more attractive rates in exchange for their loyalty and a guaranteed high volume of business.
Getting corporate hotel rates often involves creating a corporate travel program or establishing a hotel partnership. Follow these steps to secure corporate rates:
Establish a Corporate Travel Program:
- Determine Your Hotel Needs: Clarify your company’s hotel needs, such as preferred hotel brands, budget constraints, and specific amenities or demands.
- Create a Travel Policy: Develop a clear and comprehensive travel policy that outlines the rules and guidelines for booking accommodations. This policy should include information on preferred hotel chains, booking procedures, and expense reporting.
- Designate a Travel Manager: Choose someone within your organization to oversee the corporate travel program. They will be accountable for negotiating rates, booking travel, and ensuring compliance with the travel policy.
- Research Preferred Hotels: Identify hotels that meet your organization’s criteria and are located conveniently for your business travelers. Create a list of these hotels.
- Contact hotel sales teams: Contact the sales departments of the hotels on your list. You can do this by email or phone. Express your interest in a corporate hotel rate partnership and request a meeting to discuss the details.
Negotiate Corporate Hotel Rates:
- Provide Usage Data: Hotels may request information regarding your organization’s travel volume and frequency. Please be prepared to provide data regarding the number of room nights your organization plans to reserve.
- Discuss Rate Discounts: Negotiate rates according to your organization’s budget and requirements. Aim for clarity and precision in your communication with hotel representatives, but don’t forget to strike a balance between formality and casualness. Corporate rates often provide a discount from standard room rates, which may vary depending on your negotiation skills and the hotel’s policies.
- Consider Value-Added Benefits: Besides room rate discounts, mention any value-added benefits, such as free breakfast, Wi-Fi, or access to meeting rooms, that the hotel can provide to corporate travelers.
- Contract Agreement: After agreeing on the terms, the hotel will furnish a written agreement regarding the corporate rate. Thoroughly review it and make appropriate revisions before you sign.
Implement Booking Procedures:
- Communicate Corporate Hotel Rates: Share details of the corporate rates with employees to ensure they understand the booking procedures and travel policy.
- Set Up Booking Channels: Collaborate with the hotel to create a simplified booking process. This could entail providing your organization with a booking code or granting access to a dedicated booking portal.
- Track and Monitor: Regularly monitor hotel reservations to ensure adherence to the corporate travel policy and that employees are utilizing the agreed-upon rates.
Evaluate and Renegotiate your Corporate Hotel Rates:
- Periodically review your corporate hotel rate agreements to ensure they remain competitive and in line with your organization’s requirements.
- Renegotiate rates if necessary, particularly if your organization’s travel volume undergoes significant changes.
Remember that securing corporate hotel rates depends on your organization’s size, travel volume, and negotiation skills. It is also important to maintain good relationships with the hotels you partner with to ensure a smooth and mutually beneficial arrangement. Moreover, consider working with travel management companies (TMCs) or online booking platforms that specialize in corporate travel to help streamline the process and manage bookings efficiently.
Corporate Hotel Rates for Small & Medium Enterprises
Corporate hotel discounts are not only available for large companies. Securing corporate hotel rates for Small and Medium Enterprises (SMEs) can lead to cost savings and improved accommodations for business travelers. While SMEs may not have the negotiating power of larger corporations, it is still possible to secure favorable rates. Here’s a comprehensive guide on how to get corporate hotel rates for SMEs:
1. Assess Your Hotel Needs:
- Determine the frequency of business travel.
- Identify preferred hotel locations and budget constraints.
2. Create a Travel Policy:
- Develop a clear travel policy that includes preferred hotel chains, booking procedures, and expense reporting guidelines.
3. Designate a Travel Manager:
- Appoint a responsible person to negotiate rates, make bookings, and ensure policy compliance.
4. Research and Identify Hotels:
- Compile a list of hotels that meet your criteria, considering location and quality.
5. Contact Hotels and negotiate Corporate Hotel Rates:
- Provide data on past and projected bookings.
- Discuss rate discounts, value-added benefits, and long-term commitments.
- Carefully review contracts before signing.
6. Shop around:
- Check with several hotels and chains that meet your needs.
- Compare their prices or the offers they give you directly.
7. Implement Booking Procedures:
- Communicate corporate hotel rates and booking procedures to employees.
- Set up streamlined booking channels.
- Monitor compliance with the travel policy.
8. Evaluate and Renegotiate Your Corporate Hotel Rates:
- Periodically review the effectiveness and competitiveness of negotiated rates.
- Consider renegotiating based on changing travel patterns.
9. Build Relationships:
- Cultivate positive relationships with hotel representatives for improved service and benefits.
10. Utilize Travel Management Companies (TMCs):
- Consider partnering with TMCs or online platforms specializing in SME travel for streamlined booking and expense management.
By following these steps, SMEs can effectively secure corporate hotel rates, optimize travel expenses, and enhance the overall business travel experience for employees.
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