CWT Traveler

November 2018

CWT

Global Travel Forecast 2019 – Part 3: How to prepare for developments in the travel market – Our recommendations

In the previous two issues we explained the key price trends in the travel industry. This time we will be talking about how travel managers can cope with these developments and further optimize their travel program.  

Air:

  • Consolidate your data to get visibility on ancillary spend, because low rates supplemented with additional fees will continue to be the industry trend.

  • Control fare distribution, because sales channels are set to become more fragmented and complex.

  • Monitor your travel program more closely to identify price fluctuations quickly.

Hotel:

  • Use aggregated content offered by your travel management companies. That will save you time and effort in searching for the right rate.

  • Use a healthy mix of room rates with and without Last Room Availability, dynamic pricing and special chain-wide discounts. Concentrate on key properties to optimize your hotel program.

  • Reward travelers for booking in-program, for example by offering them loyalty and bonus points on hotels.

Ground transportation:

  • Demand full booking data from your car rental suppliers to understand where most of your money is going. Only by doing so can you conduct informed negotiations.

  • Look at the total cost of car rental including ancillary services, not just the rates.

  • Check that the charges have not been calculated wrongly, say for damage your traveler did not incur or incorrect refueling charges.

For the complete forecast see here.

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