Rooms for Improvement: 3 Ways to Approach Hotel Sourcing in 2021 – CWT

A hotel sign - Photo by Marten Bjork on Unsplash
Rooms for Improvement: 3 Ways to Approach Hotel Sourcing in 2021

The crystal ball of 2021 is a little cloudier than many travel buyers would have hoped at the start of the year but with the vaccine rolling out and the hard slog mostly behind us, there’s reason to anticipate a major uptick from 2020 levels, when our industry was operating at about 20% of its usual volume. Exactly when and how much demand will return will partly depend on the success of vaccine programs and traveler’s willingness to hit the road.

In the meantime, how do buyers make sure they’re ready with a safe, reliable, and efficient program to help their people get back to business?

Some industry experts have suggested taking advantage of a once-in-a-lifetime opportunity to push hotels for massive concessions. Others have advised playing it safe and taking a pass on the traditional, annual RFP process, while some recommend abandoning RFPs and static rate structures altogether, in favor of dynamic pricing. It’s no wonder buyers are baffled. Here are three ways to cut through the noise and make sure you’re ahead of the curve in 2021.

1. Stay agile – The greatest degree of flexibility — both in terms of availability and pricing as the market comes back — is the only way clients, travelers and hoteliers can realize maximum benefit. Hotel procurement strategies revolving around an annual RFP exercise have a diminished place in the current landscape. A clear example of this new reality is last room availability which is proving less valuable than before as hotels experience historically low occupancies.

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