tripBAM works with travel management companies to shift share to preferred hotels.
DALLAS – tripBAM, the new online hotel shopping service, has added biasing technology that helps travelers find newly available lower rates at preferred hotels. Guiding travelers to rate options at favored properties, this new capability targets corporate travel programs and their ongoing quest to use preferred hotels more often. tripBAM’s biasing enhancements also give hoteliers a new asset to ensure that price-conscious corporate road warriors book their property.
Using patent-pending “cluster” shopping processes, tripBAM finds savings on more than 60 percent of hotel groups searched, with average savings of more than $50 per night.
tripBAM works seamlessly with corporations and the travel management companies (TMCs) that serve them, providing multiple downstream benefits to hoteliers:
- Shift Share: By biasing to preferred chain and property relationships, companies and TMCs shift more share to preferred hotel partners through rate improvement. Based upon results from a TMC distributor, tripBAM improved usage of one hotel chain by more than 20 percent.
- Reduce Corporate RFP Volume: tripBAM’s ability to find the lowest flexible rate in virtually any location dramatically reduces the administrative RFP burden borne by corporate travel programs, TMCs and hoteliers. Companies with large volume to certain locations can always negotiate a great rate. Beyond that, for secondary cities, tripBAM essentially eliminates the need for the RFP process by leveraging market rates to ensure competitive prices.
- Superior Efficiency: Utilizing proprietary technology and innovative caching, tripBAM has the unique ability to perform highly efficient “cluster” searches of hotels in defined geographic areas without generating unnecessary distribution costs. This technology dramatically reduces the look-to-book ratios that hoteliers see from online retailers and other distributors.
- Competitive Data Extracts: Cluster-based reporting from tripBAM gives hoteliers access to historical rate data across selective competitive sets. This data helps revenue managers better set rate policy and gain awareness of rate changes by competitors.
“With hoteliers raising rates, corporations and TMCs are naturally drawn to tripBAM for its ability to save money. That said, tripBAM’s ability to steer travelers to preferred properties is just as important for long term savings,” said Steve Reynolds, president of tripBAM. “As hoteliers compete for road warriors, we’re confident they will see the benefit of seizing this unique shopping service as part of their overall strategy to win and keep more business travelers in 2014.”
Theodore is the Co-Founder and Managing Editor of TravelDailyNews Media Network; his responsibilities include business development and planning for TravelDailyNews long-term opportunities.
