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How to Secure Corporate Discounts on Hotel Stays?
Hotel expenses are a significant part of business travel costs, but securing corporate discounts can optimise your budget. There are several effective strategies for securing these discounts. Read this blog to find out the best ways to maximise savings and ensure comfortable stays.
Getting Discounts on Hotels for Corporate Travel
Hotel expenses normally account for a large share of business travel costs. By reducing hotel costs, you can optimise your corporate travel budget without sacrificing comfort and convenience for employees.
Hotels offer special rates and discounts to their corporate clients. Hotels, whose customers include business travellers, offer a basic corporate rate and discounts of 10-30%. If the hotel has an agreement with a travel management company whose clients are frequent travellers to an area, then further discounts may be available.
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What are Special Corporate Fares?
Hotels offer corporate discounts to attract and retain corporate clients who bring in a significant volume of business, thereby ensuring a stream of revenue. Special corporate fares or rates are a way to build long-term relationships with clients and encourage repeat bookings.
Providing employees affordable and comfortable stays contributes to a positive travel experience and job satisfaction. However, it is an even sweeter deal if there are exclusive discounts on hotel bookings. So, how to get discounts on hotels as a travel manager?
Here are some strategies to explore.
Ways to Secure Discounts on Hotels For Business Trips
There are different strategies to get discounts on hotels:
Negotiate Directly with Hotels
This approach requires research and strategic communications. It has the potential to achieve substantial cost savings.
Consider these tips on negotiating corporate rates with hotels:
- Research hotels in the cities that employees frequently visit on business trips. Select hotels in the city centre, close to clients' offices or within a short driving distance of conference centres.
- Make relevant inquiries. Hotels may offer corporate rates throughout the year, especially during off-peak seasons or on days with lower occupancy rates. The rates are usually based on criteria such as a certain number of bookings or minimal annual stays.
- Ask to speak to the Front Office Manager, Rooms Division Manager or Revenue Manager as they decide the rates. Front Desk or Reservations staff don't have the authority to dictate rates.
- Make inquiries with multiple hotels and chains. Compare their rates and offers. Let them know the best offer you've received so far and ask if they can match the offer. Note that hotel corporate rate agreements can include perks like flexible cancellations and loyalty points, which can be exchanged for free nights or add-ons.
- Explain what's in it for them, and if possible, mention the number of rooms or bookings you anticipate annually.
Negotiating directly with hotels takes effort and time. A simpler and faster approach to secure attractive corporate deals is to use a travel management company (TMC).
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Get Discounts on Hotels Through a Travel Management Company (TMC)
If employees keep asking "How can I get discounts on hotels?" a way to appease them is to use a travel management company to quickly secure discounts.
A TMC negotiates with hotels on your behalf and has leverage due to its existing relationships with hotel chains and boutique hotels. You can take advantage of their networks, negotiation skills and knowledge of market trends and pricing structures to get the best possible discounts on hotels, realising significant cost savings.
myBiz is a leading corporate travel management solution helping companies tailor comfortable business trips while optimising travel spend. myBiz offers specially negotiated corporate fares on hotels and assured properties that offer the following benefits to business travellers on every booking:
- Hotels reviewed and rated highly by other business travellers.
- Assured GST invoices, using which you can easily claim your tax refunds.
- myBiz assured properties in prime business locations at special corporate rates.
- 24 x 7 Dedicated support for quick query resolution.
myBiz is a simple and intuitive platform for travel managers, central bookers and employees. Explore myBiz with a free demo and find out if it's suitable for your needs.
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Use Credit Cards for Corporate Bookings
Many credit card companies offer corporate credit cards, which are tied to hotel chains. Employees owning these cards can accumulate points and cashback, as well as free perks such as free stays, room upgrades and free meals. Though these cards come at a cost, they can be recouped if the cards are used frequently.
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Keep An Eye Out for Last-Minute Rates
No hotel wants empty rooms. Booking a hotel close to your arrival date might fetch you better deals. However, this strategy does not guarantee discounts. A lot depends on where you're travelling to and whether there are any major events taking up occupancy in the city. If the hotel is close to being full and has forecasted a sell out, you're unlikely to get a room and if you do, you may have to pay a higher rate as the hotel knows it will fill the room regardless.
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Use Automated Tools
Certain tec-agile tools can come in handy in helping avoid overspending on your corporate travel budget. Here are some to consider:
- Travel management software that tracks all spends made by employees during a business trip, provides access to real-time expense claims reports and shows where you could have saved money.
- Expense tracking apps that capture receipts and categorise expenses, streamlining reimbursement and facilitating compliance.
- Dynamic pricing tools that use data analytics to predict the best times to book hotels to maximise savings.
Optimising Hotel Expenses for Business Trips
Negotiating directly with hotels is not every travel manager's cup of tea. Corporate credit cards may not guarantee consistent savings while last minute bookings come with some risk. Expense management or dynamic pricing tools, while useful in controlling travel spend, may not reduce trip costs every time. Travel management solutions from a reputed company is the best solution to get discounts on hotels, identify quality properties and access special rates on them. myBiz assures all of these benefits, which you can visualise with a free demo.
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Frequently Asked Questions
Q1. How Can I Get Discounts on Hotel Rooms for Employees?
Ans. When you secure special hotel rates, you get corporate codes, which are the discount rates you or the TMC has negotiated with the hotel. Eligible employees enter the code while booking a hotel online to avail the particular discount on their hotel room. With myBiz however, brings you endless booking options that fit right in your budget.
Q2. How Can My Company Qualify for Corporate Hotel Discounts?
Ans. Most hotels offer corporate discounts to companies that regularly book a certain number of rooms per year. Typically, your company needs to establish a corporate account with the hotel or hotel chain, and sometimes provide proof of the volume of travel.
Q3. Do All Hotels Offer Corporate Discounts?
Ans. Not all hotels offer corporate discounts, but many do, especially larger hotel chains. It’s best to check with the hotel directly or consult with your company’s travel manager.
Q4. Can Corporate Hotel Discounts Be Combined with Other Offers or Loyalty Programs?
Ans. This depends on the hotel’s policies. Some hotels may allow combining corporate discounts with loyalty points or other special promotions, while others may not. It’s best to inquire directly with the hotel or refer to their terms.
Related Blogs:
- • GST Bill In India: A Complete Guide For Business Travellers!
- • GST Registration: A Step by Step Guide For Small Businesses
- • GST on Flight Tickets: How to Get Input Tax Credit on Flights
- • GST on Hotel Rooms: How to Get Input Tax Credit on Hotels
- • Business Travel: Its Significance & Impact on Your Bottom Line
- • 9 Key Features of Top-Notch Travel Management Systems
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