|
Industry Spotlight
GBTA Research
Hotel and Meetings Sourcing Enters a New Era with RFPs Driving Value
Travel managers are rethinking how they source hotels and meeting venues via their request for proposal (RFP) processes – shifting from ad hoc negotiations to more strategic, value-driven approaches for their companies and travelers. While a focus on reducing costs remains, many now also want to maximize satisfaction, manage risk and reduce carbon emissions.
This is according to new research from GBTA and Cvent based on insights from corporate travel managers and hotel professionals across the U.S., Canada, and Europe. The report, Hotel and Meeting Sourcing: The Current Landscape and the Future, finds that structured RFPs remain the preferred sourcing method for managed hotel and meetings programs. Key findings also include:
- 63% of travel managers use structured RFPs; smaller companies more often negotiate informally.
-
79% of buyers regularly negotiate fixed rates, with amenities adding value
-
84% of programs compare negotiated rates to public pricing
-
Only 32% of buyers have a well-developed meetings program
-
Defined sourcing processes for meetings yield average savings of 22%
Read today’s announcement here. GBTA members can access the full report and infographic on the GBTA Hub.
Unlock the Power of Your Meeting and Event with GBTA's New Meetings and Events Toolkit
In today's fast-paced business environment, planning successful meetings and events can be a complex endeavor. Recognizing the challenges professionals encounter, the GBTA Meetings and Events Committee is thrilled to announce the launch of the Meetings and Events Toolkit, an exclusive resource available in the members-only section of our website. This comprehensive hub is designed to assist GBTA members in the sourcing, planning, and execution of meetings and events, regardless of size or scope.
The first addition to the toolkit is focused on the first stage of a meeting or event, the Request for Proposal (RFP) process. Travel buyers may not be aware of the difference between meetings and events RFP and a transient business travel RFP.
|
