GBTA research in 2017 found that one in six hotel rates (17 percent) in shopping channels are wrong, with corporations paying 14 percent more than they negotiated when incorrect rates are booked. HRS has often seen error rates of 20 percent or higher for too many of the programmes it serves; the company estimates the cumulative industry lost savings due to incorrect hotel rates to be a stunning €573 million. This error rate and the losses incurred by companies because of incorrect hotel rates would be unacceptable in any other area of corporate procurement.
HRS solves this years-long challenge via the launch of new real-time rate filtering automation. Powered by artificial intelligence, the patent-pending technology addresses the issue of incorrect and so-called “squatter” hotel rates in the booking systems used by corporate employees and travel agents. The Rate Filter prevents incorrect rates from being shopped, marking a quantum leap in corporate hotel rate assurance with the potential to deliver millions in savings across the global managed travel industry.
While rate auditing and re-booking – typically reactive solutions – helps corporations recover some savings, HRS’ new rate filtering technology, the industry’s first global machine-learned and channel-agnostic compliance solution, goes one step further. The technology identifies incorrect rates and prevents them from appearing in shopping channels (GDSs, online booking tools, mobile apps, etc.) used by employees.
With HRS’ Rate Filter, corporations will see more of the savings they negotiated, and travellers can be assured they are following designated company booking policy. The extrapolated lost savings figure – €573 million across the industry – highlights the magnitude of the hotel savings at stake.
Programmes of any size can benefit from this trailblazing technology. Contact HRS sales in your region or submit your contact information below.