Of all the industries that suffered significant setbacks during the pandemic, hotels were at the top of the list. Hoteliers have faced plenty of challenges over the past couple of years related to staff shortages and travel restrictions and may be looking for a competitive edge. Our new whitepaper, Capitalize on Corporate Travel with Direct Billing, tackles this topic head-on. Given the explosive digitization of almost everything B2B, now is the time to automate and streamline B2B sales with direct billing, hotel contract networks with companies and fully automated A/R processes.
Corporate travel forecasts are great—or are they?
As this whitepaper reports, “corporate travel, worldwide spending will likely jump more than 38% this year. It sounds great, but it’s not all good news: some experts warn that this measure does not necessarily equal more total trips or hotel stays; inflation must be factored into the overall cost.”
Plus, since online meetings and conferences have become standard operating procedure, it’s still challenging to secure corporate travelers. Their travel patterns have changed, and so have their expectations. Conditioned by their online consumer experiences, today’s business traveler wants an automated, digitized check-in and -out that is fast and easy.
Direct billing, hotel contract expansion and providing a trusted brand network that business customers can count on—it can be a big win for hotels. That’s why it’s time to leverage new automated payment networks to:
- Provide a superior payment experience for business travelers
- Solve operational pain points due to manual processes and staff shortages
- Increase hotel occupancy and revenue
1. Build loyalty with a top-notch business traveler experience
Enhancing the customer experience is always a focus for hotels. That’s why so many hoteliers have automated their front-of-house guest services. Technology investments have streamlined previously manual processes, such as electronic receipt delivery.
“But for business travelers,” the whitepaper notes, “those automated receipts still kick off the not-so-automated expense report process.” Instead, offer the direct billing these guests love: “all of their accommodation expenses are aggregated, consolidated and submitted automatically to the corporate A/P department, helping to build their loyalty to a specific hotel brand.”
From the business traveler’s perspective, the loyalty-building benefits are clear. They don’t have to use a personal credit card; make sure they have a corporate credit card; worry about spending limits; keep hotel-related receipts; or file expense reports. Of course they’ll want to stay with that hotel again.
The foundation of building loyalty is a great guest experience, and when it comes to accommodations, businesses—and their road-weary frequent travelers—will choose brands that are easy to work with and that they trust. Hotels work hard to create a network of well-known brands and properties. Now, these brands can connect their locations with a larger network that’s powered by TreviPay’s sleek and seamless B2B payments.
2. Improve A/R efficiencies and minimize manual frustrations
Automated check-ins and outs, while they certainly benefit guests, do not take into account the burden on a hotel’s A/R staff, who must still manually manage payments, collections and reconciliation.
Consider the time saved if staff didn’t have to chase late payments. The ideal direct billing provide takes on the burden of collections while ensuring that hotels receive payments in two, seven, 14 or 30 days—whichever is preferred. With collections and cash flow headaches eliminated, the A/R team can spend more time servicing hotel contracts and business network.
3. Achieve the end goal: increase occupancy and revenue
When hotels streamline financial management for the business vertical they can gain a competitive edge. Michelle Faul, VP of Marketing at TreviPay, sums it up, “The all-digital billing experience can increase revenue per available room and average occupancy rate for hotels by promoting a seamless experience for both the guest and the corporation. This experience is likely to incur repeat business and loyalty, which, in turn, drives profitability as more rooms are booked.”
Get your copy of Capitalize on Corporate Travel with Direct Billing to learn more about direct billing, hotel contract payment terms, and how hotels can benefit from attracting more corporate business.