Categories: Special ReportLodgingManaging Travel Programs

The Big Story: Hotels 2020 — Beyond BAR

Meaningful metrics are key to any successful hotel program
RFP is complete, hotel rates loaded – now what? How do you measure how successful all that effort really is? And what’s the right yardstick?

According to Eric Jongeling, director of the hotel solutions group-Americas for CWT, corporate travel managers need to fine tune their key performance indicators based on the objectives of the program and in alignment with the corporate culture. Rate availability is critical to ensuring suppliers are living up to their commitments and monitoring realized savings, and compliance to the program is important for ensuring the program remains relevant to travelers.

The top two indicators for success, says Virginie Pouget, global head of consulting for Expedia, are the program’s average room rate evolution and the percentage of hotels booked through their TMC – and not directly through the hotel.

Travel managers are increasingly demanding prescriptive solutions, says Valerie Layman, chief product and services officer at Yapta. Adding layers and layers of more data onto mountains of existing data, she says, is too time consuming and not effective. Instead, the industry is headed toward the use of machine learning algorithms that can identify actions and opportunities at the point in time when they can actually be implemented, she advises. Managing Travel Programs

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