Corporate Travel Redefined and How Hotels can Adapt!
In today’s edition of TechTrend InnSights, we delve into the evolving landscape of corporate travel in 2024 and how independent hotels can adapt to the increasing bleisure demand. In addition, we explore how independent hotels can leverage technology to own their brand and grow profitability. Additionally, we recap Episode 11 of Guestcentric’s Latest in Travel series with Hotels for Trees, where we discuss the strides hotels are making towards sustainability.
Corporations Investing in Travel to Drive Financial Growth, New Research Reveals
TravelPerk's newly launched report , "The Value of Business Travel," unveils compelling insights: a striking 76% of CEOs believe that boosting travel budgets would positively influence their company's revenue. This extensive study, conducted across the UK, US, Germany, and Spain, included feedback from 2,000 business travel decision-makers, including C-suite professionals, and surveyed over 5,200 business travelers and travel admins.
Despite economic uncertainties, nearly half (49%) of the surveyed companies anticipate an increase in their travel budgets for 2024, with an average expected rise of 20%. Key motivations include expanding into new markets (47%), attending more conferences and events (45%), and growing their workforce (39%). These investments are driven by the tangible benefits of face-to-face meetings, business development, and corporate gatherings.
Corporate travel continues to undergo a transformation, with travellers now viewing hotels as a rewarding experience rather than just a necessity. This shift presents a golden opportunity for cool, boutique hotels to make their mark on the Global Distribution System (GDS). By being accessible on the GDS, these hotels can attract the growing segment of 'bleisure' travelers who blend business with leisure.
Here’s how independent hotels can strategically respond to this demand:
1. Strategic Alliances on the GDS
Form strategic partnerships with consortia and offer corporate negotiated rates, particularly in industries like pharmaceuticals, finance, and technology. This not only enhances visibility but also fosters long-term relationships with business travelers, boosting bookings and revenue.
2. Personalized GDS Perks for Distinctive Stays
Highlight amenities such as in-room coffee machines, complimentary water bottles, timed room service, and grab-and-go food options. Customizing GDS listings to showcase these perks can significantly enhance appeal and satisfaction for corporate travelers.
3. Communicate 'what's in it for business travellers' on your direct channels
Ensure your hotel website content highlights key features for business travelers. Incorporate user-friendly design elements and responsive layouts to provide a seamless experience. Simplify booking processes and offer clear information on rates and policies to attract and retain corporate travelers.
4. Align GDS Strategies with Sustainability Expectations
Implement and communicate sustainability policies within GDS strategies. Highlighting eco-friendly initiatives can attract corporate clients who prioritize green practices, aligning with their sustainability criteria.
Empowering Independent Hotels with Technology
As the online travel landscape becomes more intricate, Filipa Guedes de Campos , Commercial Director at Guestcentric, highlights the importance of independent hotels leveraging technology to manage their online presence seamlessly, protect their brand, and reduce reliance on intermediaries.
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The Latest in Travel with Linde Borgers and Edwin Schaerlaeckens from Hotels for Trees
??? In Episode 11 of the Latest in Travel Podcast, ?? Edwin Schaerlaeckens and Linde Borger , from Hotels for Trees join Melissa Rodrigues to share innovative insights on promoting sustainability in travel and hospitality.
?? Key Topics:
1?? Innovative strategies for sustainable travel.
2?? Experiences from working with diverse cultures.
3?? Future trends in travel and hospitality.
4?? Practical steps for hotels to adopt sustainable practices.
?? Join us for this enriching discussion packed with valuable information on transforming the travel experience through sustainability. Be sure to subscribe to our podcast channel on your chosen platform for more insightful episodes! Here are the links below to subscribe:
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