‘Renegotiate contracts or lose out’_3
18 July 2012
Business travel buyers who fail to renegotiate their supplier and travel agent relationships within the next year may suffer financially, an industry body has claimed, writes Elizabeth Bellamy.
Ian Hall, chairman of the Institute of Travel Management, said the scenario was prompted by a recent trend for companies to pay their agents and suppliers through transaction fees, instead of commission or management fees.
Transaction fees give firms greater visibility of travel spend as goods and services are paid for up front, item by item, Hall told...