5 Steps Towards Lowering Hotel Costs

Managing your Hotel Expenditure Effectively

11 December 2019

In September we heard from PWC regarding their updated forecast about the UK hotel industry for 2019 into 2020. Their latest update suggested that average hotel rates would grow at around 1-2%, throughout the UK.
While these expectations of increased cost are good to know, effectively managing your hotel expenditure can deliver to your overall objectives without needing to budget for these types of increases, and instead reduce your costs.
There are five key questions you need to have asked before you consider booking accommodation:
1. What drives the company’s requirement for hotels and is this likely to change in the year ahead?

2. Can you influence the traveller’s booking behaviour to consolidate your bookings into fewer hotels, gaining more favourable rates?

3. Has the company defined the standard and price of the hotels that should be booked, how are these managed and how do your travellers feel about them?

4. Can you leverage added value into your hotel rates based upon the extras travellers are permitted to bill to expenses?

5. Do you regularly have meetings in the area? Can you schedule meetings at the end of the week or switch online to reduce cost?

At PRIORITY we assist clients with the strategic management of their hotel, meetings and travel expenditure, leveraging your costs to optimise your savings while securing the support of your travellers.

Please get in touch should you need any advice or wish to discuss your future hotel program. [email protected]

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