The rise of the sharing economy

As shared economy suppliers set their sights on corporate business, it’s time to revisit your relationship with traditional suppliers. Here’s how to handle the approach:

  • Share data with your traditional suppliers about how many travelers in your company are using sharing economy suppliers, which new suppliers they’re using, and why.
  • Challenge your traditional preferred suppliers to support you better—with new products for travelers and enhanced amenities like free casual meeting spaces, healthy and lower-priced room service options, etc.
  • Look again at negotiated pricing in cities where you’re seeing heavy use of disruptors like Airbnb: Does the corporate rate need to come down? Do your travelers know what the corporate rate is? Do you need to find easier ways for them to book through preferred suppliers?

Read to find out more about managing business travel in a “sharing” marketplace.

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