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
"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 (), 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 () is a leading global payments, network and travel company founded in 1850.
American Express Business Travel