How Selective Can Help with Rising Travel Costs

According to a recent survey in conjunction with GBTA, corporate travel costs are forecasted to continue rising for the rest of 2022 and throughout 2023. Key drivers for these price hike include rising fuel prices, labour shortages, and inflationary pressures as found in the survey.

Findings predict that air fares will increase by 8.5%, hotel rates by 8.2%, and car rental charges by 6.8% in 2023. This is on top of predicted major price hikes in 2022 for air fares (48.5%), hotel rates (18.5%) and car rental charges (7.3%). Hire rates had already seen a major jump in 2021 with a 5.1% increase. The cost for meeting and events is also predicted to rise with the cost-per-attendee increasing by 25% in 2022 and a further 7% in 2023. 

With these increases in mind, you may be wondering how your TMC can support you during a more expensive future in travel.

How Selective Travel Management can help:

No Contract

Our no contract and no annual fees policy means you only book travel with us when you want to.  As one of few TMCs offering this service, you can make cost savings as you are not tied into paying for unnecessary travel and money is not wasted on yearly fees or contract obligations.

Buying Power

Selective Travel Management have built relationships with the best and most trusted suppliers across the globe. Our buying power and in-house technology means we can offer a wider range of fares and exclusive rates, often leading to cost savings that can’t be found elsewhere.

Online Bookings

At Selective Travel Management, we offer a full online service. By making use of our Online Booking Tool, you can access the same content as our dedicated travel consultants and access reduced transaction fees. You can also access our tool 24/7 at a time and place that suits you.

Online Reporting

Our Online Reporting tool, Trends, can be used to analyse a range of travel information unique to your company. From online vs offline bookings and the total spend to types of travel and more, you can easily view reports and use the data to find areas for future cost savings.

Account Management

Your Account Manager is there to help manage all aspects of your corporate travel programme and they should be your first port of call for any concerns regarding travel spend. They can provide you with detailed reports on your travel expenses and can make recommendations on cost savings for future travel.

Corporate Travel Policy

Selective Travel Management can help update your Corporate Travel Policy to ensure none of your budget goes to waste. Create approval policies, embed restrictions, set thresholds, and define who these apply to in order to reduce travel expenditure. Your policy can also be integrated with our Online Booking Tool to ensure your guidelines are always adhered to.

While rising travel costs may be a frightening thought for your business’s future, remember your TMC is here to support and guide you through managing your corporate travel programme.

If you would like to have your Business Travel Simplified, then speak with a member of our team on (028) 9038 9007 or email hello@selective-travel.co.uk