Updates include enhanced benchmarking and analytics capabilities for managed hotel programs.
DALLAS – Hotel shopping, benchmarking and analytics provider TRIPBAM today announced the release of its Hotel Intelligence 2.0 offering. The updated solution will allow travel managers, in real time, to accurately grade hotel, brand, and chain performance regarding true discounts received and LRA (Last Room Availability).
TRIPBAM clients using Hotel Intelligence will also be able to quantify the realized value of their managed hotel program, benchmark against companies of similar size, and compare chain, brand, and property discounts across all hotels.
“This update is significant not only for the TRIPBAM team, but for all of our current and prospective clients,” said Steve Reynolds, TRIPBAM Founder & CEO. “We’ve worked closely with many of our most tenured clients, collecting their feedback and input over a period of about six months, to make this release possible. Our technology team has been laser focused on enhancing what was already an unmatched product in the market, designed specifically for travel managers. We look forward to continuing to be the lead innovator in this space.”
Some Hotel Intelligence 2.0 enhancements include:
- Measurement of preferred hotels across two metrics – discount percent and rate compared to benchmark
- Sourcing and share shift estimates by city with customized settings to improve savings estimates
- Period over period comparisons across two metrics: LQR (Lowest Qualified Rate, the rate the traveler would have paid if a negotiated discount was not available) change and rate booked change
- Modified hotel grading based upon individual client volume by property
- Benchmark negotiated rates and discount levels to use in sourcing new hotels, brands and chains
Other updates include improvements to, and simplification of, the user interface, improved formulas for better estimated savings opportunities, and more reports available for download. By actioning Hotel Intelligence recommendations, clients can roughly double the value of their hotel program, based on pilot results.
“My team and I are excited to be involved in testing TRIPBAM’s latest offerings,” said TRIPBAM client Drew Mitchell, Cognizant. “It’s great to see the improvements and additions TRIPBAM has made to help clients maximize the value of their hotel programs. Hotel Intelligence has helped drive savings for our company and improve transparency and accountability from our preferred hotel partners.”
Overall, TRIPBAM’s Hotel Intelligence 2.0 will better identify savings lost due to LRA issues and allow travel managers to use this information to correct the issue with the property in real time. Travel managers can also use the updated service to obtain, again in real time, year-over-year rate changes by city, brand or chain, and hotel to assist in rate negotiations during the hotel sourcing process.
TRIPBAM will be exhibiting at GBTA Convention 2019 in Chicago, August 3-7, at booth 429. The TRIPBAM team will be available for interviews and will be giving demonstrations of its offerings during the Expo hours.
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