Printer Friendly
The Free Library
19,595,263 articles and books
Member login
User name  
Password 
 
Join us Forgot password?

American Express Business Travel's Hotel Rate Trax is Awarded Patent.


Identifies Discrepancies Between Negotiated Corporate Discounts and GDS-Loaded Hotel Rates

Ticket TRAX Also Awarded Patent

NEW YORK -- American Express Business Travel today announced it has been awarded a patent on Hotel Rate TRAX solidifying the company's exclusive rights to use the automated auditing tool. Launched in 2004, Hotel Rate TRAX compares a company's negotiated hotel rates with those listed in the Global Distribution System (GDS) to identify discrepancies and capture potential lost savings due to inaccurately loaded rates.

According to American Express Business Travel, companies that do not have a thorough rate auditing tool can lose an average of seven dollars on each room night, which can add up quickly. Additionally, it is estimated that nearly 35 percent of hotel rates are loaded incorrectly into the GDS.

"With hotel spend on the chopping block, this innovation brings greater transparency to corporate negotiated rates and helps our clients get the most out of their hotel programs," said Lisa Durocher, Senior Vice President, Global Marketing, American Express Business Travel. "The patent enables us to offer this already popular solution exclusively to our clients in order to avoid inconvenient and costly rate loading inconsistencies."

Hotel Rate TRAX completes an audit of each program highlighting any differences between the negotiated rate and the actual rate found in the GDSs. Hotel Rate TRAX allows companies to share the data with hotels, which are then able to make any necessary corrections and address pricing inconsistencies.

"The hotel rate audit is a critical piece of the sourcing process," said Jeff Lawrence, U.S. Travel Manager, Cummins Business Services. "Hotel Rate TRAX creates consistency between the rate travelers expect to see when booking and the rate they actually pay. The rate audit closes that loop and also identifies opportunities for travel managers to pursue reductions or refunds from hotels that don't load rates timely or correctly."

In addition to Hotel Rate TRAX, the Company also announced it has been awarded a patent for its automated Ticket TRAX tool. Ticket TRAX applies a company's refundable tickets procured within the previous 60 days to eligible trips and notifies travelers and travel managers of outstanding tickets that are eligible for name changes within the parameters of a company's contracts. This solution reduces unused ticket liability while making it possible for all travel dollars to be captured.

"Ticket TRAX allows us greater traveler flexibility while minimizing the liability of unused tickets on the back end," said Tamara Gordon, Global Travel and Meetings Manager, UnitedHealth Group. "Ticket TRAX continues to add value to our corporate travel program. Since the beginning of the year, the company has saved more than $700,000 as a result of Ticket TRAX."

About American Express Business Travel

American Express Business Travel (www.americanexpress.com/businesstravel), a division of American Express Company, is committed to helping its clients maximize the greatest return on their travel investment through increased cost savings, world-class customer service and greater spending control. Ranging from small businesses to multinational corporations, American Express Business Travel provides a combination of industry-leading technology, travel management consulting, strategic sourcing and supplier negotiation support, alongside global customer service available online and offline. The Company also provides a dynamic online community (www.BusinessTravelConneXion.com) harnessing the collective intelligence of those in the business travel industry offering a variety of perspectives, best practices, current research and industry news.

American Express operates one of the world's largest travel agency networks with locations in over 140 countries worldwide. Total travel sales volume in 2008 was $29.1 billion, including proprietary volume, volume processed through joint ventures, and American Express branded volume processed through its partner network.

American Express Company (www.americanexpress.com) is a leading global payments, network and travel company founded in 1850.
COPYRIGHT 2009 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2009 Gale, Cengage Learning. All rights reserved.

 Reader Opinion

Title:

Comment:



 

Article Details
Printer friendly Cite/link Email Feedback
Publication:Business Wire
Date:Aug 12, 2009
Words:620
Previous Article:CHR, USAHomeRaffle.com Join Forces to Help Homeowners, Charities.
Next Article:Silgan Elects Adam J. Greenlee Chief Operating Officer.
Topics:



Related Articles
Courting the executive traveler.
Maximizing your travel dollars: the cost of travel may be up, but business fliers can find ways to save.
Award-winning JW Marriott Hotel Mexico City offers classic elegance to business travelers. (Special Advertising Feature).
InterContinental[R] Hotels Group.
Expense report crackdown: typical business trip cost to increase by 6 percent.
Al Manzil hotel receives global customer vote of excellence.
Sorting Latino geo-fiction & fact: ThomWatch
Oilfield services firm could see its sales surge

Terms of use | Copyright © 2012 Farlex, Inc. | Feedback | For webmasters | Submit articles