How do I get corporate hotel rates?

Managing your company’s travel spend requires strategic decisions, especially when it comes to lodging costs. One key way to achieve significant savings is to take advantage of corporate hotel rates. Hotels recognize the needs of their business customers and offer exclusive discounts, often starting at 10%. By exploring options and negotiating, you have the opportunity to secure even more favorable corporate hotel rates, ensuring both comfort for your team and efficiency for your budget.

It is in the hotel’s best interest to offer business travelers more attractive rates in exchange for their loyalty and a guaranteed high volume of business.

Getting corporate rates at hotels often involves creating a corporate travel program or establishing a hotel partnership. Follow these steps to secure corporate rates:

Establish a corporate travel program:

Define your hotel needs: Clarify your company’s hotel needs, such as preferred hotel brands, budget constraints and specific amenities or requirements.
Create a travel policy: Develop a clear and comprehensive travel policy that outlines the rules and guidelines for booking lodging. This policy should include information on preferred hotel chains, booking procedures and expense reporting.
Designate a travel manager: Select someone within your organization to oversee the corporate travel program. This person will be responsible for negotiating rates, booking travel and ensuring compliance with the travel policy.

Contact Hotels:

Research preferred hotels: Identify hotels that meet your company’s criteria and are conveniently located for your business travelers. Develop a list of these hotels.
Contact hotel sales teams: Contact the sales departments of the hotels on your list. You can do this by e-mail or phone. Express your interest in a corporate hotel rate partnership and request a meeting to discuss the details.

Negotiate Corporate Rates:

Provide usage data: Hotels may request information about your organization’s travel volume and frequency. Be prepared to provide data on the number of room nights your organization plans to reserve.
Discuss rate discounts: Negotiate rates based on your organization’s budget and needs. Aim for clarity and precision in your communication with hotel representatives, but don’t forget to strike a balance between formality and informality. Corporate rates often offer a discount off standard room rates, which may vary depending on your negotiating skills and the hotel’s policies.
Consider value-added benefits: In addition to room rate discounts, mention any value-added benefits, such as complimentary breakfast, Wi-Fi or access to meeting rooms, that the hotel can offer corporate travelers.
Contract agreement: After the terms are agreed upon, the hotel will provide a written corporate rate agreement. Review it carefully and make any necessary revisions before signing.

Implement Booking Procedures:

Communicate hotel corporate rates: Communicate corporate rate details to employees to ensure they understand the booking process and travel policy.
Set up booking channels: Work with the hotel to create a simplified booking process. This could include providing your company with a booking code or access to a dedicated booking portal.
Track and monitor: Regularly monitor hotel bookings to ensure compliance with corporate travel policy and that employees are taking advantage of agreed-upon rates.

Evaluate and renegotiate your corporate hotel rates:

Periodically review your corporate hotel rates to ensure they remain competitive and meet your company’s needs.
Renegotiate rates as necessary, especially if your company’s travel volume changes significantly.

Remember that securing the best corporate hotel rates depends on your company’s size, travel volume and negotiating skills. It is also important to maintain good relationships with the hotels you work with to ensure a smooth and mutually beneficial arrangement. In addition, consider working with travel management companies (TMCs) or online booking platforms that specialize in corporate travel to streamline the process and manage bookings efficiently.

BCD Great Rates Hotel Program

BCD Travel’s Great Rates offers a wide range of choices, savings, and security. We can play a vital role in securing discounted rates for hotel accommodations for your corporate travel requirements. This goes beyond what your company can achieve on its own in negotiations, ensuring competitive prices across a range of destinations. Beyond rates, BCD Great Rates properties drive additional savings with amenities – including, breakfast (46%), Parking (50%), Internet (78%), and Fitness Center (63%).

Hotel Discounts for Small & Medium Enterprises

Hotel discounts are not only available for large companies. Securing corporate hotel discounts for Small and Medium Enterprises (SMEs) can lead to cost savings and improved accommodations for business travelers. While SMEs may not have the negotiating power of larger corporations, it is still possible to secure favorable rates. Here’s a comprehensive guide on how to get hotel rates for SMEs:

1. Assess Your Hotel Needs:

Determine the frequency of business travel.
Identify preferred hotel locations and budget constraints.

2. Create a Travel Policy:

Develop a clear travel policy that includes preferred hotel chains, booking procedures, and expense reporting guidelines.

3. Designate a Travel Manager:

Appoint a responsible person to negotiate rates, make bookings, and ensure policy compliance.

4. Research and Identify Hotels:

Compile a list of hotels that meet your criteria, considering location and quality.

5. Contact Hotels and negotiate Corporate Hotel Rates:

Provide data on past and projected bookings.
Discuss rate discounts, value-added benefits, and long-term commitments.
Carefully review contracts before signing.

6. Shop around:

Check with several hotels and chains that meet your needs.
Compare their prices or the offers they give you directly.

7. Implement Booking Procedures:

Communicate corporate hotel rates and booking procedures to employees.
Set up streamlined booking channels.
Monitor compliance with the travel policy.

8. Evaluate and Renegotiate Your Corporate Hotel Rates:

Periodically review the effectiveness and competitiveness of negotiated rates.
Consider renegotiating based on changing travel patterns.

9. Build Relationships:

Cultivate positive relationships with hotel representatives for improved service and benefits.

10. Utilize Travel Management Companies (TMCs):

Consider partnering with TMCs or online platforms specializing in SME travel for streamlined booking and expense management.

By following these steps, SMEs can effectively secure hotel rates, optimize travel expenses, and enhance the overall business travel experience for employees.

What are Hotel Corporate Codes?

Hotel Corporate Codes are special codes provided by many hotels that offer corporate discounts to businesses. These codes allow companies to access discounted rates on hotel rooms when booking for their employees. By using a corporate code, companies can ensure that they are getting the best possible rate for their accommodations. These codes are part of the negotiated agreements between the hotel group and the company, allowing them to negotiate better rates for their employees staying at multiple hotel locations. Overall, corporate codes make it easier and more cost-effective for companies to book accommodations for their employees on business trips.

Would you like to learn more about our travel management solutions?

Contact our sales team to explore how we can assist you with your corporate travel program.