In a new series, BTiQ brings you the facts about pioneering companies and initiatives
Travel is full of so many new ideas and companies that it’s difficult for travel managers to keep on top of what’s happening in the marketplace. So BTiQ has teamed up with the Business Travel Show for this new series to learn more about some of the innovative companies at this year's exhibition and vying for the Disrupt Award.
To start off, we spoke to Steve Reynolds, CEO of Tripbam - a well-known name with eyes on a larger European footprint.
When did Tripbam launch?
We launched in 2013.
How many people are working for the company?
There are currently 13 in the team.
Sum up what your company/product does in one sentence.
We help companies save money on their hotel costs and improve their corporate hotel programme.
Why is it unique?
We have several patented processes whereby we search for lower rates at both the same hotel as well as similar hotels nearby that meet the company’s specific criteria.
What problem does it solve?
We reduce hotel costs, improve usage of preferred hotels and brands, improve attachment rates, increase commissions, identify weak/strong negotiated rates and discounts, and identify hotels not honouring their last room availability (LRA) or percentage off BAR commitments.
What platforms is it available on and can integrate with?
Our solution is global (multi-language, currency, GDS) and works with any TMC.
What markets is it available in?
We are currently being used in all markets.
Which companies are using it already?
More than 1,300 companies and 19 travel agency resellers are currently using our system.
What do travel managers like about it?
On average, we find savings 40% of the time and the average savings is around US$120 per booking. Most of our clients achieve an ROI of at least 500%.
What are your growth plans?
In 2016 we grew by more than 350% and plan to have the same level of growth in 2017. We are just now opening our office in London and announcing our expansion plans into Europe.
Find disruptors in Launchpad at Business Travel Show 22-23 February. Register here