How to cut costs on a business trip
With the costs of flights, hotels and car rental expected to rise significantly in 2023, planning ahead for your business trip has never been more important if you want to ensure you don’t go over your budget.
According to a report by the Global Business Travel Forecast, business travellers will see airfares rise by 8.4%, hotel rates by 8.2%, and car rental charges by 6.8% in 2023. This is in addition to the 2022 increase in air fares of 48.5%, hotel rates of 18.5%, and car rental charges of 7.3%.
Despite the popularity of remote working and video calls, business travel is, in some cases, still necessary in order to increase sales, customer base or revenue. Therefore, pre-planning a trip, so we can reduce unnecessary expenses, becomes imperative. Here are a few tips to save on overall business travel costs and maximize the success and effectiveness of your business meetings:
You can often save money if you book business flights and hotels months or weeks in advance. Also, consider using travel apps or agencies that you can save on bookings at a package rate.
Set a budget
Set a budget limit for business trips. If the trip exceeds the set limit, have an internal discussion on whether the event or meeting can be done virtually, as business travel requires some level of accountability. Set a per diem for meals and lodging and educate employees on the changes.
Leverage membership loyalty
Working exclusively with certain vendors to plan your business travel can save you money. Encouraging employees to sign up for their loyalty programs will also help. These strategic partnerships can pay off with benefits like select discounts and preferred booking for trips.
Be flexible with dates and times
Leaving a day later or a day earlier could save money on flights as well as room rates. If you’re flexible with dates and can move things around, you can often get great deals you wouldn’t otherwise.
Compare locations when planning a company-wide outing, like a retreat or an off-site team building event. When attending events, book a hotel outside large cities and take public transport. Airport hotels or hotels in the city centre tend to be more costly.
Pre-set appointments & follow-up
Before attending events, reach out to event attendees or presenters that you want to meet. Gather information about the client’s wants and needs to maximize your time together. Set goals for each client meeting, whether it be the initial meeting, presenting benefits or closing a deal. A week before the meeting, reach out again to confirm the appointment.
Selecting a hotel for a business meeting
If your company is hosting an event or meeting, researching hotels is important to find the perfect meeting space. There are a lot of differences among meeting rooms in hotels — each location will have different features, amenities and support. For example, audiovisual equipment may or may not be included. Make sure to look at reviews to ensure service meets your standards and visit the place beforehand if possible. Don’t forget to ask if the hotel offers any special packages or perks, as many are happy to throw in discounts for large groups.
Here are some business-friendly hotels that we recommend in the following cities:
Do you love to travel? With 11Onze Viatges you can book accommodation at the best price, without stifling the travel industry.
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