arlson Wagonlit Travel (CWT), a global travel management company, today revealed that its U.S.-based customers are now saving an average of $305 per trip by tracking airfare and hotel price fluctuations and rebooking when a lower available rate becomes available. The company’s fare tracking solution – powered by Yapta’s FareIQ – has delivered customers an average airfare savings of $170 per ticket. Meanwhile, its hotel rate tracking solution – powered by Yapta’s RoomIQ – has delivered an average savings of $135 per hotel stay.
In 2013, CWT launched its fare tracking technology after completing a thorough evaluation of Yapta’s FareIQ technology with select U.S. clients. Late last year, shortly following Yapta’s launch of RoomIQ, CWT was the first company to expand its price tracking services and launch a hotel rate tracking solution. To date, CWT’s solutions have tracked nearly $3 billion in airfare and hotel spend.
“Price tracking technology has ensured that customers always get the lowest cost and best value for their travel at no additional work to the travel manager – and with minimal impact on the traveler,” said Ben Scott, vice president of marketing at CWT. “CWT has a central fulfillment team that’s dedicated to supporting the price tracking initiative for both hotels and airfare. This is another way CWT is dedicated to providing best-in-class service, even after a transition has been made.”
In 2015, CWT released its annual Travel Management Priorities report offering analysis of its annual travel manager survey. According to the report, 59 percent of travel managers in North America had planned on deploying a fare tracking and rebooking solution in 2016.
With access to the unparalleled data provided by Yapta’s IQ technologies, corporate travel managers are better equipped to enforce booking policy, enhance supplier negotiations, and maximize reductions to the average ticket price for airfare, and the average daily rates for hotels. Yapta provides transparency into room types booked (view, club level, superior), greater visibility into how well negotiated rates perform against market rates, and a clear picture of the true value of amenities. In addition, traveler satisfaction is improved as they now have the confidence to book at their convenience, knowing that they either secured the best price – or as prices fluctuate, that they will ultimately receive the lowest price.
“The sophisticated yield management systems utilized by airlines and, more recently, hotel suppliers have made it difficult for corporations to ensure their employees travel for the lowest cost,” said James Filsinger, president and CEO of Yapta. “The price tracking technologies provided by CWT – and powered by Yapta – are leveling the playing field for today’s corporations, providing them with actionable insights for everyday savings and valuable analysis for stronger supplier negotiations.”