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 programs it serves; the company estimates the cumulative industry lost savings due to incorrect hotel rates to be a stunning USD662 million. This error rate and the losses incurred by companies because of incorrect hotel rate 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.
With HRS’ Rate Filter, corporations will see more of the savings they negotiated, and travelers can be assured they are following designated company booking policy. The extrapolated lost savings figure – USD662 million across the industry – highlights the magnitude of the hotel savings at stake.
Programs of any size can benefit from this trailblazing technology. Contact HRS sales in your region or submit your contact information below.