Unlocking Savings in the $565 Billion Meetings Arena; HRS Leverages Transient Volume to Deliver Superior Simple Meetings Sourcing Results

COLOGNE, Germany–(BUSINESS WIRE)–HRS,
the leading Global Hotel Solutions provider, introduced a new Meetings
Groups sourcing service
today, targeting the growing simple
meetings management arena. With companies
already spending $565 billion on meetings worldwide
— and projected
to spend more in 2019
— HRS’ solution is perfectly timed as
corporations seek to maximize this growing business expense.

The MG sourcing service fits neatly into HRS’
industry-first end-to-end corporate hotel procurement solution
. HRS
is already renown worldwide for its transient hotel sourcing services,
helping companies secure millions in annual savings and competitive
rates in more than 200 countries. A growing number of HRS clients build
upon sourcing to include full end-to-end hotel services, incorporating
ongoing rate auditing, search and book that contains a company’s
corporate negotiated rates and HRS’ unique discounted rates, and
integrated payment via virtual payment and other automated solutions.

“With this announcement, HRS has created the very first end-to-end
simple meetings solution for corporations. From procurement to payment,
in all markets around the globe, HRS can now serve as a company’s single
contract partner,” said Marco D’Ilario, Vice President of Sourcing
Solutions for HRS. “HRS can now source an annual program, prioritize the
negotiated program in the search and book process, automate compliance
objectives and deliver a much faster booking procedure.”

The end-to-end MG solution offers companies a unique option to gain
transparency into what they spend on simple meetings, while
simultaneously leveraging its proven transient sourcing process and
global network of hotel specialists to secure savings on meeting room
space, guest nights, food+beverage costs, and more.

Research Cites Tremendous Lost Savings Opportunities Amid Growing
Meeting Spend

This past July, research
from the Global Business Travel Association and HRS
captured the
challenges, scope and opportunity of today’s corporate simple meeting
landscape.

  • Simple meetings, consisting of 50 or less participants and featuring
    mostly replicable venue requirements, make up 50-70 percent of a
    company’s annual meetings schedule
  • A stunning 70 percent of simple meeting planners don’t follow a
    defined process to source and book these gatherings
  • Shockingly, 77 percent use consumer channels to seek out venues, not
    taking advantage of preferred hotel relationships and setting up
    potential duty-of-care risks

The lack of discipline these metrics illustrate drives incremental
excess costs for companies — and these costs are projected to rise in
2019. One
large travel management company projects corporate meetings to rise by
five to ten percent next year
. Fifty-five percent of respondents to
a Meetings Outlook survey from Meetings Professional
International say that contract
negotiations are getting more complex.

Six Benefits of MG Sourcing for Corporate Meeting Departments

With the launch of MG Sourcing, meeting
departments can anticipate the following benefits
:

  • Direct savings
  • Improved planning
  • More time for strategic activities
  • Global data transparency
  • Decreased liability via standard, pre-approved contract terms
  • Streamlined financial processes via virtual payment integration

Combined, these six benefits help drive adoption. For example, with
pre-approved contract terms, less experienced planners no longer need to
wait for the procurement team to examine the contract before awarding
the meeting to a property. Historically, such delays cause companies to
miss out on option dates, adding time and complexity for planners.

Beyond sourcing, HRS has an automated, simplified search and book
platform which aligns with a company’s corporate objectives and
prioritizes the negotiated program. With HRS’ industry-leading rate
protection technology, planners are guaranteed that they will not
pay more than their agreed-upon rates. Clients using this service today
issue pre-approved contracts immediately upon agreement, driving higher
adoption. Planners book negotiated rates with 100% accuracy in
cancellation, deposit and payment clauses.

“No other global travel company is better positioned to leverage its
expertise from the transient sourcing arena to help meetings departments
consolidate their buying power,” said D’Ilario. “Companies have
tremendous opportunities in simple meetings; we’re excited to help them
uncover newfound savings.”

HRS will feature the new MG Sourcing Service at next week’s ACTE-CAPA
Global Summit and Corporate Lodging Forum in Sydney, Australia
.

About HRS

HRS simplifies business travel. Corporate travel managers and business
travellers around the world trust HRS to find the best accommodation and
simplify all processes related to their business travel. In addition to
professional hotel sourcing and the negotiation of corporate rates with
hotels, HRS optimises paperless payment of hotel accommodation and
meetings as well as automated invoice processing. More than 3,000
multinational corporations rely on HRS Global Hotel Solutions. Customers
include global players from the Fortune 500, including Google, Siemens,
Alibaba, China Mobile and Volkswagen. HRS pursues clear goals: savings
for companies and high traveller satisfaction. Founded in Cologne in
1972, HRS today has more than 1,500 employees in 35 offices worldwide,
including Dallas, London, New York, São Paulo, San Francisco, Shanghai,
Singapore and Tokyo. Further information at corporate.hrs.com.

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