Case Study: Private Equity Firm Partners with Travel Leaders Group
Tuesday 8th October 2019:
Travel management organizations offer an array of booking services and data-driven products to help your company’s bottom line. In addition to tactical support for planning trips - making reservations, modifying airline or hotel reservations on short notice and arranging preferred loyalty rewards for frequent travel - beneficial financial tools include data analysis, performance measurement and reporting, cost savings and easily identifiable return on investment. Take a look at this example of how Travel Leaders Group helped one company with multiple subsidiaries consolidate their spending with a managed business travel program in order to lower costs and increase the value of their travel budget.
A major private equity firm embarked upon an aggressive and strategic initiative to leverage their combined travel spend in order to improve overall business results. The firm partnered with Travel Leaders Group whose dedicated Business Travel Manager scrutinized airline discount contracts for coverage and overlap and re-negotiated with special emphasis on key impact markets and regions. Within 12 months, the group of companies within the equity firm implemented their new travel management program. Travel Leaders Group’s online booking tool was introduced to employees, and within six months the majority of the staff were using it to book all of their business trips. Live traveller education seminars promoted awareness and support of the new travel program with an emphasis on how the company saves when everyone books with the program and uses preferred suppliers.
The partnership between the Private Equity firm and Travel Leaders Group resulted in:
• Overall effective savings of 25% in the first year
• 8% reduction in average airline ticket price
• 15% improvement in hotel rates
• Updated agreements with vendors and deeper discounts with airlines resulting in £606,000 in savings within 12 months
• Adoption of Travel Leaders Group’s online booking tool, with a 81% adoption rate within six months, resulting in 60% cost savings
Travel Leaders Group helped one company with multiple subsidiaries consolidate their spending with a managed business travel program in order to lower costs and increase the value of their travel budget.
Savings expectations exceeded; costs reduced through combined travel spending across all portfolio companies; strategic re-negotiation of all supplier programs for higher discounts and maximum coverage; excellent adoption of online booking tool; flexibility and strategic communication at all levels.
Even for companies that spend less than this customer, the benefits of a travel management partner add up to more than you expect (i.e. cost savings + safety + support + service). With a Travel Leaders Group Personal Program Manager, you get:
• 24/7/365 Reservations: always on with Amadeus Cytrics
• Smart Technology Solutions: easy online booking with Amadeus Cytrics; access to all airlines and fares, all hotels, and all car rental companies through a single source
• Personal Program Manager: an experienced travel professional reviews your company’s data and provides analysis and advice. They’ll oversee your program and make recommendations on how to obtain maximum value for your travel spend.
• Supplier Discounts: our deep relationships with air, hotel and car vendors puts your company on the preferred list. We’ll also help with enrolment and management of airline soft dollar programs to reduce airfare costs.
• Safe Travels: with today’s heightened security concerns, employee safety is an important consideration. Travel Leaders Group has the tracking and communication tools to provide a safety net for business travellers in an emergency situation.
• Government Compliance: we know all the rules and will help run your organization by the book.
Travel Leaders Group offers its clients technology-forward products coupled with personalized service.
The switch to a more formal travel program is not difficult with the right partner. With the change management offered by Travel Leaders Group, we can quickly implement and demonstrate our value to your company. Our proprietary technology tools, like Amadeus Cytrics are powerful and easy to use, and our support staff is constantly accessible and consistently professional to keep your people moving in the right direction. With Travel Leaders Group, your Personal Program Manager will be an expert in ROI, a valuable resource who never stops crunching numbers to provide new insights into your program and innovative ways to maximize savings. With a reputation built on reliability and a commitment to excellence, Travel Leaders Group offers its clients technology-forward products coupled with personalized service. And we strongly believe in continuous improvement, which means that we never stop searching for higher levels of performance for our clients.