§ Overall reduction in total hotel cost averaging 14%
§ Significant reduction in hotel program management labor through BTP’s automation capabilities
§ Total visibility into the hotel program and compliance to the program
Each year corporations engage in a travel procurement process negotiating rates, room-night commitments, and a variety of other terms with preferred hotels and hotel chains to implement a companywide hotel program. A hotel program typically remains static, regardless of local market conditions, until the next annual procurement cycle. Compliance to hotel policy is, on average, less than fifty percent due to a number of factors; the reservation was not booked through the proper channel, the wrong property was booked, the wrong room rate, etc. These all lead to an out of compliance booking which costs all parties involved money.
BTP has developed and launched BTP Index, the first and only adaptive business travel program management system. It is capable of automatically and dynamically renegotiating program terms and conditions throughout the hotel program lifecycle. BTP provides continuous data-driven refinement of the negotiated hotel program that takes into account actual travel patterns and changing market conditions.
BTP connects to multiple pre-trip and post-trip data sources, integrates the data on a daily basis, and uses the data to drive corrective actions and continuously fine-tune the hotel program to market conditions and travel performance. The corporation has the data and tools to increase traveler compliance, monitor hotel conformance to agreed-upon terms, and renegotiate these terms as travel patterns and market conditions evolve. BTP is able to accomplish this on-going tuning of the hotel program on a daily basis without human intervention. BTP’s SaaS model is exceptionally easy to implement, learn and use.
While the market volume was down considerably in 2020, corporate hotel spend still reached $188B. Current projections anticipate steady growth through 2024 where pre pandemic volumes are expected to be achieved. Approximately 38% of that volume, or approximately $70B was booked through BTP’s channel distribution partner, Sabre. It is important to note that the pre-covid-19 hotel spend was approximately $400B so there is significant growth opportunity as corporate travel rebounds over the next two years.
BTP Automation is a classic SaaS model with corporations using the BTP platform paying a recurring 1% of the total hotel spend. The following represents hotel spend by large, medium and small corporations:
Large Hotel Spend Revenue to BTP ( ARR)
E & Y $459MM $459MM
Polo Ralph Lauren $15MM $150K
Crowdstrike $5.0MM $50K
CEO Bruce Yoxsimer is a travel industry veteran having owned and operated a corporate travel management company for 13 years before co-founding GetThere, the world’s first web-based travel booking engine. GetThere (GTHR) had a successful IPO in 1999 and was acquired by Sabre in 2000
Founder Fernando Avila has over 25 years in the corporate travel management space. A senior executive with American Airlines, Posadas de Mexico and British Airways. Mr. Avila has a BS degree in Industrial Engineering from the Universidad del Nuevo Mundo. Fernando has implemented over two thousand global corporate hotel programs.
CTO Adam Levy has extensive experience with data of all types. Prior to serving as BTP Automation’s CTO, Adam transformed how data was used at Hertz Rent-a-car to optimize supply and demand decisions. Adam has a BS in Integrated Business and Engineering, an MS in Industrial Engineering, and an MBA from Lehigh University.
Ready to Ask For Funding for your company?
Post a Funding Request