SilverDoor says cost and location are the biggest factor when it comes to procurement and booking, but corporate appetite for live and instant booking of accommodation is also key.
The comments were made during SilverDoor's fourth annual Partner Engagement Day in London, which was attended by 170 industry figures.
The agenda covered trends, challenges and sustainability in business travel and global mobility and while flexible booking terms were key factors in buying decisions, it was noted that to support more costly sustainable offerings, companies may have to give bookers more choice by raising rate caps.
Key takeaways from the day included:
- Client feedback showed cost and location to be the biggest decider in procurement and booking;
- Corporate appetite for live availability and instant book inventory confirmed;
- Corporates want flexible booking terms with buying decisions are heavily
influenced by cancellation policies – operators should be lenient where
possible to retain clientele;
- A need for flexibility in travel programmes, but businesses must be able to track/predict their travellers’ choices to ensure their safety;
- Sustainable accommodation is still often the least cost-effective option, which is starting to motivate companies to increase rate caps to allow bookers to make greener choices;
- Collaboration and networking within the supply chain is key to sustainability advancements in the sector;
- Strong corporate appetite confirmed for better carbon emissions tracking and reporting.
Alex Neale, group head of partner relationships, SilverDoor said: “Within serviced accommodation, as well as the broader travel sector, we are facing changing and challenging times. To offer a platform for candid conversation and an opportunity to discuss solutions is hugely valuable.”
SilverDoor recently released a market update which said serviced apartment rates were set to fall in Europe.