Research UpdateAnalyst: Lorraine Sileo
It's common understanding that corporate managed travel programs require the use of preferred suppliers. After all, isn't that the purpose of corporate-supplier negotiations – to obtain special rates for the corporation, and guaranteed business for the supplier? But in reality, the consistent use of preferred suppliers is likely lower than we think. A recent Phocuswright survey of 2,300 U.S. business travelers found that fewer than half of those governed by a corporate travel policy ALWAYS use preferred suppliers for car rental, air or hotel.