Three compelling corporate travel findings

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Three compelling corporate travel findings

[Credit: Cvent]

[SPONSORED CONTENT] Discover three corporate travel manager findings to propel your transient business.

As corporate transient travel returns, hoteliers, sales directors, and revenue managers are facing stiff competition from their comp set.

In this article, we at Cvent examine business travel demand, capturing new business, appealing to corporate travel managers, and building client relationships.

The results of the most recent Europe edition of our Travel Managers Report are a great way to learn about your corporate travel buyers. The report covered the following topics:

• Business travel is rebounding quickly

• Sourcing travel across borders

• Budgets rise amid cost-conscious sourcing

• How hotels can meet post-Covid needs

• Make room for dual and dynamic rates

• Travel buyers also plan events

Cvent commissioned Censuswide, an independent research company, to survey 519 corporate travel decision-makers in several European markets. The research was conducted among respondents in the United Kingdom, France, Germany, Spain, Italy, and the Netherlands, between 14-25 April 2022.

Participants were selected based on their employer being an international organisation – defined as having offices in two or more markets – or a firm with either/both 250 or more employees/turnover of £500,000+.

Here are three key learnings from the report.

1. Business travel is rebounding 

Hotels everywhere are in luck. The survey reveals that most corporate travel managers expect their organisations’ travel spend to increase significantly in 2022. 

Three quarters (75 per cent) of respondents expect volumes – defined as the number of hotel stays booked in a specified period – in 2022 to eclipse the levels of 2019, the last full year before the COVID-19 pandemic began.

2. Sourcing across borders

The survey data shows that organisations are keen to source international – and intercontinental – travel. More than two in three (69 per cent) travel managers say they’re sourcing internationally, both within and outside of Europe, with those in Germany (80 per cent) and France (76 per cent) the keenest.

Only around a fifth (21 per cent) of respondents are focusing on sourcing exclusively within Europe. In addition, fewer than one in 10 (eight per cent) travel managers won’t look beyond their own borders at present.

3. Budgets rise

A large majority (81 per cent) of respondents expect their firm’s business travel budget per trip to increase in 2022, compared to spend levels of 2019. An even greater proportion (92 per cent) of those in Italy think this will be the case though travel managers in Germany are slightly more sceptical (78 per cent). 

Almost one in three (32 per cent) of respondents across all markets surveyed claim their organisation’s business travel budget will increase significantly. Those based in Spain and Italy (both 36 per cent) are most likely to expect a significant rise.

Here are seven tips to attract more travel managers.

1. Improve your lead visibility

Target the right travel managers. Learning more about who they are, what they need and their challenges will help you here.

2. Hotel or venue search engine optimisation (SEO) 

The importance of hotel or venue SEO cannot be understated. Explore ways to boost your pages’ ranking on Google, Bing, and more. 

3. Publish content on major global distribution systems.

In this day-and-age, social media is your superpower. Building a following with high-quality, informative content will help you improve relationships and grow your corporate travel business. 

4. Don’t forget retargeting!

Use Google Ads, YouTube, and other online channels to retarget travel managers. 

5. Make the most of your proposal

Use your proposal to show travel buyers how your hotel meets their exact needs. 

6. Keep an eye on the competition

Keep track of competitors bids and adjust yours in turn.

7. Flexible event space is a must

Promote flexible event and venue space. Offer virtual 3D photorealistic site tours and interactive floorplans travel managers can explore. Give them an opportunity to visualise what your property can offer.

For more country-specific statistics, findings, actionable insights, and quotes from corporate travel managers download the report.

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