Association for Corporate Travel Executives Highlights Hotel Procurement Changes Drive Increased Savings and Traveller Satisfaction for Corporate Travel Programs
ACTE Global (Association for Corporate Travel Executives) reported results of its latest research study, underwritten by HRS, focusing on how corporate hotel procurement practices continue to evolve.
According to a media release, the study, "A New Horizon in Hotel Sourcing," found that change is in the air for travel executives: More than half (51 percent) of programs have made some change in their approach to hotel sourcing in the past three years with the vast majority saying they have derived savings from a new direction.
Driven by multiple pressure points, including rising hotel rates, a fragmented hotel marketplace and the amount of time that traditional hotel sourcing takes, 48 percent of travel managers who made a change decided to outsource some or all of their hotel procurement to either a global hotel services provider or a third-party specialist.
The research reveals several other noteworthy trends that point to a shift in how companies particularly larger, multi-national programs approach hotel supplier negotiations:
-Companies working with a global hotel services provider or a consultancy report annual savings of seven percent, while those working with a travel management company (TMC) reported saving four percent per year.
-Approximately one in ten programs (11 percent) report implementing continuous sourcing a relatively new practice that sources hotels year-round, as opposed to during a limited RFP process at the end of each year. These companies report positive changes, including improved traveler compliance and satisfaction, financial savings and increased portfolio flexibility.
-One of the primary barriers to continuous sourcing adoption is education: 42 percent of travel executives who have not implemented continuous sourcing are not familiar with it. About one third (31 percent) cite lack of time or resources.
-One-fifth of travel executives report that they do not stay abreast of business changes that could impact their hotel programs, such as an emerging need in a new geographical market, unless it's RFP season. This suggests that, for the remaining executives who do monitor throughout the year, continuous sourcing may help them act on business shifts more quickly.
"We live in an age of information overload and constant disruption, and failure to quickly act on market developments can be costly for travel executives, both in terms of dollars and traveler satisfaction," said Greeley Koch, executive director of ACTE. "More than half of early adopters of continuous sourcing report savings illustrating how travel managers can leverage cutting-edge practices to position themselves at the forefront of the changing business landscape and as leaders in their organizations."
"Hotel sourcing offers travel programs their best opportunities for both financial and strategic change," said Marco D'Ilario, vice president of sourcing for HRS. "This global survey depicts an industry where programs are clearly seizing newfound opportunities and leveraging irrefutable data to gain not only savings, but superior program performance. It's nothing less than a redefinition of the RFP process."
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THE DAILY VIEW
Gilt and Sarah Jessica Parker Unveil SJP by Sarah Jessica Parker Bridal Collection for Spring
Sarah Jessica Parker, in partnership with Gilt, kicked off the exclusive launch of SJP by Sarah Jessica Parker Bridal, Gilt’s first foray into bridal ready-to-wear that would have Carrie Bradshaw swooning.
The collection includes dresses, skirts, bodysuits and other pieces, ranging in price from $295 to $2,395 and from sizes 0 to 14.
"Collaborating with Gilt on my first bridal ready-to-wear collection was an opportunity I couldn't pass up," said Sarah Jessica Parker. "The team there is brilliant and allowed me to be imaginative and take risks as I was designing for the non-traditional bride. It has been quite fun to play around with colors, fabrics and details to create unique pieces for all kinds of brides." The collection, comprised of ten styles, is inspired by Parker's vision of a modern, non-traditional bride, and is designed to dress a woman for a variety of wedding milestone moments; from her bridal shower through her wedding reception. Styles offered are a unique mix of classic dresses and gowns, modern bodysuits, full skirts, and a jumpsuit. The color palette includes traditional bridal white, sleek black, plus pops of blush, poppy, light gray and blue.
Designed in collaboration with Gilt, the collection was produced in New York City utilizing fabrics like cashmere and stretch crepe sourced from Spain, Italy and France.
The pieces all feature carefully curated details like elegant bows, sophisticated cutouts, feathers, intricate embroidery and beautiful hand-stitched beading.
The actress and style icon is no stranger to chic bridal wear. Carrie Badshaw, famously played by Parker, took part in an elaborate bridal photo shoot in Sex and the City: The Movie. The shoot featured gowns from designers like Christian Lacroix and Lanvin. Parker famously wore a black wedding gown for her own wedding to Matthew Broderick in 1997.
"Not only is Sarah Jessica Parker's style known around the world, her point of view is one-of-a-kind," says Tom Ott, Chief Merchant of Gilt. "Sarah Jessica brings her impeccable taste and fashion sensibility to life in this collection. We think our customers will be delighted with the offering which is stylish and well-priced in the bridal category."
As part of the bridal launch, Gilt will also offer 15 exclusive styles from the SJP by Sarah Jessica Parker footwear line, each of which are complementary to the bridal collection.
To correspond with the bridal collection launch, Gilt City will present offers from some of Sarah Jessica Parker's favorite places in New York City.
The offers were each chosen as a way to help brides plan for and celebrate the big day with highlights including, Leather Spa, Lars Nord Studio Tailoring, Mah-Ze-Dahr Bakery, among others.
Tea Forté Introduces ‘Matcha’ Collection
Convenience meets tradition in Tea Forté’s new Ceremonial Matcha Bowl Set and the Matcha Single Steeps.
The company said its spring harvested, shade grown, stone ground, organic matcha tea is best served in a centuries-old Japanese tea ceremony called chanoyu: a preparation technique known for its centering meditative qualities.
"The launch of Tea Forté's Matcha collection represents our continued commitment to wellness and cultivating all the potential mental and physical health benefits of tea," says Tea Forté CEO Michael Gebrael. "In addition to our high quality Pure Matcha, we've also blended four distinct flavored Matcha varieties. Prepackaged in pouches measured out for a single serving, our Single Steeps Matcha is ideal for the office, travel, or to keep with you for a boost anytime."
Tea Forté noted its handcrafted ceremonial tea bowl, handmade bamboo whisk and measuring ladle “encourages serene enjoyment of our premium Kosher, gluten-free and vegan matcha blends.” These include: Pure Matcha, Chocolate Matcha, Coconut Matcha, Ginger Matcha, and Chai Matcha.
According to a release, in addition to its distinctive taste, matcha is prized for its health benefits. Steeped green tea contains only the antioxidants that can be extracted in water, while with matcha, the whole leaf is consumed.
Available now in select stores and online at teaforte.com.
Expedia.com has released a year-end look at U.S. traveler behavior and trends for 2017, analyzing data to identify the most in-demand destinations, hotels, activities and more.
Among other insights, the roundup revealed:
- Labor Day was the busiest weekend for car rental
- Disney Theme Parks topped the list of things to do
- The average hotel stay was two nights
- Top destinations based on 2017 air travel included major global cities like New York, London and Bangkok
- Popular tourist destinations included Orlando, Cancun and Las Vegas