Hotel room rates are always changing and highly affected by the demand and supply. The more rooms available, the cheaper the rates they can offer, and the fewer vacant rooms, the more expensive it will be. Having a corporate rate will significantly save your company on travel expenses.
How do hotel corporate rates work?
Hotel corporate rates are usually negotiated beforehand between the hotel or hotel chain and the company, usually via the company’s travel manager. Once your company’s special rate has been negotiated, you will be able to enjoy the benefits of corporate rates.
Corporate rates could be all year round or could only be on a specific date when you book your stay on business days or during on or off-peak seasons. This all depends on what was negotiated between your company and the hotel.
How to get a corporate rate at hotels?
Company hotel discounts aren’t just for large companies. Small businesses and solo entrepreneurs can enjoy great rates and benefits too. While small businesses might not have the same volumes and, therefore, bargaining power as larger companies, there are several ways in which you can get some great corporate rates at hotels:
1. Book directly on the Hotel website
When you make bookings via online booking sites, hotels need to pay a commission between 10% to 25% of the total booking value! Booking directly with hotels will save them on commissions/fees and they would be happy to extend you a discount for such direct bookings.
2. Shop around
Take the time to see what’s available out there. Check and speak to multiple hotels and chains that match your needs, and compare their rates or the offers that they give you directly. Don’t be afraid to ask them to match the best offer you’ve received so far.
3. Extended stay discounts
If you’re staying for more than 5 nights you can ask for what is known as an extended stay discount. This might not be advertised openly on the hotel’s website but it is common practice to ask for one.
4. When possible, opt for non-refundable rates
If cancellation flexibility isn’t vital for you, some hotels can offer significant discounts for clients who pay up-front through a non-refundable rate. In some cases, hotels could offer a discount of up to 25% here.
5. Corporate credit cards and loyalty programs
Many credit card providers offer corporate or business credit cards. Using these cards to pay for your hotel stay can get you company hotel discounts, the occasional free night, or even some add-ons like extra meals. Corporate credit cards usually come at a cost but can be worth it if used frequently enough.
6. Use a client’s corporate code when visiting
If you’re traveling to meet with a client of yours, there’s a chance they might have their corporate codes or pre-negotiated company hotel discounts with a nearby venue. Check with your client before booking anything and see if you can use their corporate code if they do.
7. Negotiate your hotel corporate rates
You can also choose to roll up your sleeves and negotiate corporate rates for your business. Here are some tips to get you started:
- First of all, ask to speak to the hotel manager
- Emphasize the benefits of starting a relationship between your company and the hotel. Outline what frequency and volume of business you can offer.
- Watch out for any hidden costs associated with your negotiated rates. Comb through terms and conditions carefully and look out for any additional tariffs or taxes and avoid any unpleasant surprises when your first invoice arrives.
- Finally, maintain an open and friendly line of communication with your contact person at the hotel. A good working relationship means that they’re more likely to go the extra mile for you should you need it.
Whenever you will be traveling for work, don’t hesitate to ask for a corporate rate especially when you are visiting Terrace, BC.
Rest Inn – Terrace takes care of all your corporate needs and loves to be your home base in Terrace. Discover our enhanced stay benefits that will make you feel right at home. Experience our fastest free Wi-Fi, meeting space and flexible rates, free parking, free breakfast, and fitness room with Covid safe measures in place.
Contact us to discuss your needs and we will work to tailor the best experience for your team. Click below to get our latest corporate rates.