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Easy Ways to Save Money on Business Travel
16 November 2024 |
Introduction
In this blog we discuss easy ways to save money on business travel. Business travel expenses can add up quickly, especially with the rising costs of hotels and flights. The average business trip for UK companies costs around £2,620, covering flights, accommodation, and other essentials.
This article breaks down top tips to save money on business trips, from advance planning to corporate travel discounts, to help you make the most of your travel budget.
How to Save Money on Business Trips
Plan in Advance
Our team recommend planning your trip in order to achieve savings on business travel. Airlines typically offer their lowest fares on initial seats, meaning booking early can secure cheaper rates. Similarly, hotels have limited lower-rate rooms that get booked quickly, so last-minute bookings are often more expensive. As part of echo.bravo’s business services we can access exclusive corporate rates, securing better deals than standard online rates and monitor price drops for extra savings.
Look for Corporate Travel Discounts
Working with a business travel agency can unlock corporate travel rates not available to the general public. Booking with echo.bravo can save your business an average of 12% on flights and hotels, thanks to our negotiated rates. Plus, we ensure all loyalty points from airlines, hotels, and car rentals are updated for every trip, maximizing your rewards.
Explore Various Accommodation Options
Hotels aren’t always the most cost-effective option, especially in high-cost areas. Airbnb for Business offers highly rated accommodations specifically for business travelers. However, privately owned rentals may have less flexible cancellation policies, which isn’t ideal when plans can change at a moment’s notice. Our business travel services include flexible booking options to help avoid cancellation fees, ensuring you only pay for what you need.
Take Advantage of Memberships & Rewards Programs
Most airlines and hotels offer loyalty programs that reward frequent travelers. For instance, British Airways’ Avios points can be redeemed for upgrades, while Marriott’s Bonvoy program offers bonus points, upgrades, and late checkouts. At echo.bravo, we have strong relationships with major airlines and hotels and will help you manage these points for savings on future trips.
Implement a Company-Wide Travel Policy
A well-defined travel policy helps companies control expenses and sets guidelines for employees. Common elements include limits on meal expenses, preferred transportation methods, and hotel standards based on travel distance and length of stay.
With help from the echo bravo account managers, we can help you develop a travel policy that aligns with industry standards and supports cost control.
Conclusion
Business travel doesn’t have to be expensive. By planning strategically and working with a business travel agency like echo.bravo, you can reduce costs on flights, hotels, and more. With our Business Travel Solutions, we make travel more streamlined, convenient, and cost-effective. Get in touch to learn how we can support your business’s travel needs.
Frequently Asked Questions (FAQs)
How can I track business travel expenses efficiently?
We recommend using trusted apps that can intergrate with your travel expense tracking such as Quickbooks.
Where can I get the best currency exchange rates?
For currency exchange, we recommend using Money Saving Expert and other online comparison sites to find the best rates.
Where can I find the best value travel insurance?
Comparison sites like Compare the Market or MoneySuperMarket offer a good range of travel insurance options at competitive rates.
Does booking further in advance get me cheaper flight and hotel rates?
Yes. Flights and hotels offer their best rates on initial bookings. Once those lower rates are gone, prices tend to rise, so booking early can secure the best deals.