THE POWER OF ONLINE HOTEL BOOKING AND TRAVEL MANAGEMENT The airline mergers have caused an increase in airfares of both economic and business classdue to higher demands and higher costs. Following the airline business,the hotels across the globe have also raised their costs. Ultimately individual and corporate travelers both are facing the challenge of rising travel costs. With business travel expanding in past couple of years the corporates have also turned stricter towards business travel expense. Adherence to travel policies, approval from a longer hierarchy of management, justification of trips or return on investment are some of their ways to keep a scrutiny on business travelers. A fastest growing sector of the travel industry is highly influenced due to online travel bookings and travel management. According to a recent research by World Travel &Tourism Council people employed in global travel & tourism is more than consolidating the financial, manufacturing, and mining industry. Another survey results of Google reflect that 85% of travelers while booking online consider PRICE the most important factor.
Leveraging the power of technology, the online b2b hotel booking for corporates has emerged one of the most eminent tools utilized by corporates to book their hotels. This has also created an opportunity for hotel & travel industry to build and maintain an online booking engine for corporates and enterprises. The online hotel booking is not only beneficial for corporates and individual travelers but for hotels too which were otherwise selling their unused property at unused prices. Most of the leading travel agencies are using B2B and B2C business models. These travel portals can be assessed directly on your androidsmartphone too through apps. Instead of making their booking on the website most corporate professionals prefer apps on their phones.