It's critical to assemble your available data and focus on amenities and features in order to drive true value.
This week’s blog series is by Mark Davis; Sr. Vice President of Operations and CTO at SafeSourcing.
During Part II of this post we discussed the impact of corporate travel policies and establishing the goals for your event.
Today we will be exploring the following data elements.
1. The Data
2. Amenities & Features
The Data – After you have established your goals for your events it’s time to review the data you have available to you in order to get your project off the ground. Don’t be disturbed if there isn’t much. Having no visibility into how many nights you stay at a specific location can certainly make negotiating rates with that location more difficult but not impossible. In many cases companies have rates established with properties and do not even realize it. Simply making some phone calls to the hotels near your offices is a simple way to start. You might be surprised with what you have in place currently with these properties. At the very least a picture of what your accommodation spends as a whole is needed so that the chains and properties know how to provide you with something that is valuable for you and worth their investment. Between these phone calls, some internal surveys and some expense statement reviews, extrapolating your spend is entirely possible.
The Amenities & Features – You may not have a policy that details the amenities a specific property or brand needs in place in order to be a “preferred” site but gathering those details is critical so that you can sort out your true cost profile once the project has been completed. One property in Phoenix, AZ may provide lower rates than another but may charge for internet access and is not able to provide the free continental breakfast another property with higher rack rates does. It may be preferable to conduct an RFI as a precursor to any pricing work that is done so that your company can understand which properties will fit the criteria you require of a preferred location.
During tomorrow’s final post in this series we’ll be discuss Location Rates, Chain Discounts, Rebate Programs and how to leverage them to your best advantage during your event.
If you can’t wait for tomorrows Part IV or this IV part post and need more information sooner about sourcing travel related categories like hotel accommodations, please contact a SafeSourcing Customer Service Representative.
We look forward to and appreciate your comments