UK: A recent report by Cvent reveals insight into what corporate travel managers (CTMs) in the UK are looking for when sourcing and negotiating accommodation for business travel.
The study shows that 71 per cent of CTMs anticipate larger 2020 budgets, with 49 per cent of respondents intending to increase the number of hotels in their travel programmes, and the same percentage looking to increase the number of room nights.
Looking more closely at these statistics, nearly 40 per cent of CTMs were aged between 35-44, and 90.91 per cent of this demographic favoured chain hotels as their accommodation of choice.
55.84 per cent of this same age group would secure independent hotels as their accommodation of choice – similar to that of 25-34 year olds, at 53.33 per cent.
45.45 per cent of 16-24 year olds were most likely to choose a boutique hotel as the preferred accommodation type for business travel. This is followed by the 35-44 age group (40.26 per cent) and the 25-34 age group (35 per cent).
Over half of the respondents reported that last room availability (LRA) is essential for a hotel to be included in their programme, primarily due to a desire for more choice and flexibility related to change requests and last-minute bookings.
Of the top three concerns amongst CTMs, rate increases versus prior RFP season are above the benchmark average is ranked as the biggest challenge (39 per cent), followed by lack of transparency when quoting pricing (38 per cent), and hotel chain account managers not relaying company information to specific hotels (38 per cent).
Chris McAndrews, vice president of marketing for Cvent Hospitality Cloud, said: “Corporate travel managers are leveraging more external resources to make decisions and have more complex concerns than ever before. They also have more complex roles. Eighty-six per cent of respondents are responsible for not only organising travel, but also sourcing venues for their company’s meetings and events. There is a strong call to action for hotels to address these concerns and support the changing needs of CTMs in order to secure more MICE business.”
Cvent’s full report can be downloaded here.
The study was based on a survey of 200 UK travel managers conducted in early January 2020.