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Components of the Hotel Sourcing Reports System
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The best proven and most cost effective way for companies to have "Accurate Hotel Spend Data"
Hotel Spend Data Consolidation
The consolidation of hotel spend data from multiple sources into a centralized database to provide travel managers with the most complete picture of their company's hotel spend:
A unique and systematic way of ensuring that a company's hotel spend data and negotiated rate data are suitable for general-purpose querying and free of certain undesirable characteristics—insertion, update, and deletion anomalies—that could lead to a severe loss of data integrity. Such anomalies are:
For Hotel Spend
For Negotiated Rate (NBTA Standard RFP form)
The HSA Performance Score Card provides travel managers with the information they need to have an accurate assessment of the performance of their hotel program in a snap-shot through Key Performance Indicators (KPIs) (significant predefined hotel program performance measures). HSA KPIs define target performance and provide travel managers with the ability to assess past performance. For example, if the goal is to improve savings, then several KPIs can help monitor that goal. Savings KPIs could include Non-negotiated destinations, Non-compliant bookings or Above Negotiated Rate bookings. Looking at the Above Negotiated Bookings KPI in greater detail, the purpose of this KPI is to monitor the number of room nights in preferred hotels at a higher rate (higher than negotiated). This KPI should address several questions such as where and in which hotels (chains / brands) most above Negotiated Rate Bookings occur, Who is making these bookings? What are the lost savings due to above Negotiated Rate Bookings? Why are these room nights being booked at a higher rate (multiple rates loaded under corporate access code, etc)? How do the current above Negotiated Rate bookings compare to target performance and to historical trend?
Incorporating visualization with KPIs through the HSA Performance Score Card provides travel managers with a powerful tool to quickly and easily spot savings opportunities in real financial terms as well as events or trends that are of concern and allows them to focus their resources on those activities that require their attention.
Compliance Reporting & Savings Calculation
Hotel Sourcing Analytics give travel managers the extraordinary ability to measure compliance (the amount of room nights adhering to the company's hotel program) and measure savings (using the company specific savings measurement guidelines) in a very objective way and through outstanding reporting and visual elements.
Being able to measure compliance and measure savings are the most important steps when implementing and managing a hotel program. You need to be able to know whether your program is delivering cost savings to the company, how much money you are leaving on the table and how to maximize results in real financial terms. Hotel Sourcing Analytics give travel managers both the ability to measure and guidance to improve.
Hotel Sourcing Analytics give travel managers the ability to compare each booked rate at preferred hotels against the best available rate the day of the booking. Find out the true discount your company received on every booking at preferred hotels. This analysis is the perfect tool to monitor compliance on dynamic pricing negotiations as well as to assess the true value of your hotel program in real financial terms. It gives travel managers the ability to measure performance with a single number true average discount level.
Without the proper tools, comparing the booked rate against the best available rate becomes quite a challenge considering that published hotel rates constantly change depending on the market's occupancy levels. Hotel Sourcing Alliance has created a proprietary system to alleviate this challenge.
Whether it's insufficient hotel data or too much data from multiple sources, one of the most difficult and tiresome challenges in managing a corporate hotel program is preparing a hotel bid list. Hotel Sourcing Analytics keeps your data normalized and updated, so when it comes time for travel managers to prepare their hotel bid lists for RFP season, it only takes few minutes for Hotel Sourcing Analytics to produce a close to perfect Hotel Bid List for the company. The list includes not only production data but the real value each hotel brings to the company using the revolutionary HSA Rating System. In addition, through Hotel Sourcing Analytics travel managers can give potential preferred hotels on-line access to one of the most sophisticated account specific destination reports in the industry (Corporate Score Card) giving the company a unique position during the negotiation process.
HSA's Benchmark Analysis allows travel managers to compare their company's hotel program performance metrics to those of similar industries and similar travel patterns (among members of the Hotel Sourcing Alliance). Some dimensions measured are average daily rates, negotiated rate comparison, discount levels, property compliance, negotiated terms compliance, arrival and departure patterns and average value to hotels. The objective is to learn how well other companies perform and, more importantly, how they do it.
This analysis then allows organizations to develop plans on how to make improvements or adapt specific best practices in their hotel programs, usually with the aim of increasing compliance and cost savings. In the past, benchmarking was considered a one time event, but through Hotel Sourcing Analytics, it can be a continuous process in which companies actively seek to improve their hotel program performance.
Our Savings in Action monthly report presents travel managers with a comprehensive picture of where the company can improve its performance metrics and what actions are recommended to achieve saving goals in real financial terms. Actionable data is the name of the game in this exceptional report.
Our client list speaks for itself: