A new GBTA study shows that more companies are consolidating meetings, events and travel programmes, with one half of travel buyers admitting to currently having or are being in the process of creating a consolidated meetings, events and/or travel programme.
According to the report Meetings, Events and Travel Programs: Consolidation Drivers and Barriers, this marks a 14% growth in adoption over the past five years, including a 27% increase in completed consolidation. It also revealed that buyers with consolidated programmes almost all say their travel (96%) and meetings (94%) programs are consolidated while 43% say the same of their events program.
“Improving visibility and transparency of meetings, events and/or travel costs is the most cited driver and goal for consolidating individual programs, and nearly four out of five buyers feel their company has been successful in this area,” the GBTA said in a statement. Additionally, survey respondents reported each of the goals for consolidating are met by a strong majority of those with fully consolidated programs.
“Popular goals and drivers for fully-consolidated programs include better leveraging and maximizing spend, obtaining better negotiated rates and dynamic pricing, and increasing efficiencies and improving service for stakeholders,” said Joseph Bates, GBTA Foundation vice president of research. “Four in five travel buyers find all facets of consolidated programs appealing, so it’s no surprise they are increasing in popularity.”
Even for non-consolidated Buyers, there remains a strong interest in a number of additional features and functionalities when it comes to management technology for their travel programs. More than four out of five Buyers want accurate negotiated hotel rates displayed in the GDS, searchable hotels for receiving and negotiating RFPs and to learn about hotel rates and amenities secured by other companies. Use of management technology among non-consolidated buyers in their meetings and events programs, however, is almost non-existent.
