Companies the world over can get away with superfluous travel spending and splurging dollars on unnecessary travel programs by making the most of your travel budget with these four simple hacks:
- Keep a tab of hidden costs:
Whilst most firms have clear directions on hotel room types and nightly rates, it is important to keep a tab of indirect costs, usually veiled, such as Wi-Fi, breakfast and parking. When booking, look for non-refundable rates as they are often the cheapest.
Many companies usually overlook this option which can bring down the cost by at least 20%. There is nothing like fixed business travel plans; therefore, do not be afraid to make bookings in situations when travel plans are kind of definite. With time the cost savings will offset the odd loss in case of adjustments in travel plan.
- Don’t give mid-scale hotels the brush:
While most business travellers like to stay in premium upmarket properties, there are major hotel groups that offer midscale brands at a relatively cheaper price range. As per Business Travel News rate index, preferring midscale brands over others enable travellers to score loyalty points and achieve cost savings by as much as 13%.
While most business travellers like to stay in premium upmarket properties, there are major hotel groups that offer midscale brands at a relatively cheaper price range. As per Business Travel News rate index, preferring midscale brands over others enable travellers to score loyalty points and achieve cost savings by as much as 13%.
- Select budget airlines:
Budget airlines, similar to midscale hotels, are an ideal option, particularly for short haul flights. It should be understood that flying cheaper does not mean making any compromise on amenities. There are budget airlines that offer comfortable seating and carry-on bag options.
- Save Time:
On a final note, travellers should remember that saving time is tantamount to saving money. Time spent on travel is nothing but the actual productive work which defines the travel objective and that which eventually benefits the company. While companies are facing mounting pressure of increasing travel costs, travel managers are unwilling to negotiate with safety and comfort levels. The need of the hour is to develop a well-defined travel management policy that can help exert greater control over the travel budget.