10 Mar Rising Hotel Rates Drive Larger Investment in CLS’ Negotiation Team
Lexington, KY – Creative Lodging Solutions®, an award-winning corporate lodging management company, announced today a $750,000 initiative to save clients an unprecedented amount in travel expenses. The program includes additional resources dedicated to deeper client discounts to combat a staggering increase in hotel rates. This upsurge, predicted to greatly influence the industry from 2014-2016, responds to the highest recorded hotel occupancy researchers have seen in decades. This unparalleled rate inflation stems from the high demand and conversely low room supply within the industry. Soaring rates might seem expedient to hoteliers, but they look daunting to travelers, especially as analysts expect to see these rates climb even higher in coming years. In fact, industry expert PwC US estimates that average daily rates are expected to increase 5.7% this year, the biggest rate hike since 2007.
Creative Lodging Solutions’ CEO Michael Tetterton says this about the expanding negotiation team: “CLS is happy to bolster our Negotiation team. Boosting this department’s bandwidth and skillset to fully utilize the company’s bargaining power demonstrates our commitment to making sure CLS clients benefit from reduced rates. Creative Lodging Solutions is always up to a challenge. Adding negotiation experts to tackle the higher rates proves to our clients that we’ve researched industry trends and responded with a positive answer.”
In the midst of record high hotel rates, CLS’ negotiation program proved very effective last quarter, with groundbreaking savings totals of tens of thousands on individual client travel projects. While CLS focuses on lowering rates as the main goal of the initiative, the team also prioritizes investigation of additional hotel brand options to ensure client’s travel projects stay within budget. Negotiation experts empower clients with their expertise by giving them a competitive advantage–a distinct edge when bidding for travel projects.