Only one in ten business travelers book at the last minute

Hotel bookings made on the same day, and often via a mobile device, are 23% cheaper than overnight stays booked well in advance, according to an HRS study of transactions on its portal. Despite this, only one in ten business travelers book at the last minute.

The analysis looks at average prices over the past five years and compares rates over selected advance booking periods.

Most business travelers (58%) tend to book the hotel at less than two weeks in advance, while 32% book further in advance, 14 days or more.

In both cases, they would be giving up a substantial savings: in exchange for an early booking and the security of accommodation they have to accept room prices that are 10% more expensive than those booked at short notice.

Booking at the last minute can reduce rates dramatically, up to almost a quarter cheaper than those made with more planning. There are, however, exceptions: in cases of major events and trade fairs in some cities, hotel room availability is often limited, and so prices rise noticeably.

SMARTHOTEL

One in ten business travelers surveyed by HRS book their hotel on the same day they need it. Most of this 10% use a mobile app which, thanks to its map functionality with GPS positioning, allows them to immediately find their next accommodation.

"Mobile is the current trend and the one that will define the future of the travel industry. Today, 40 percent of all searches we receive on our portal are already done through smartphones and tablets, says HRS CEO Tobias Ragge.

To optimize investment in the hotel expense line item, it is necessary to have a good hotel program aligned with the company's travel policy that maximizes savings without compromising quality or business traveler satisfaction.