In an analysis of hotel rate auditing programs used by its clients, BCD Travel found that a company that doesn’t conduct standard rate audits will overspend on its hotel program by $122,500 for every $5 million in spend. Combining standard rate auditing—the industry norm that checks that a rate is loaded properly into the global distribution system—with rate availability audits can prevent $225,000 in overspending for every $5 million in spend. Yet, while about 80 percent of BCD clients conduct standard rate audits, according to Marwan Batrouni, senior director and hotel practice area leader for BCD’s Advito consultancy, only about 30 percent of clients have opted for monthly rate availability audits. Another recently wrapped study, from the Global Business Travel Association and HRS, found that while 86 percent of travel managers conduct a GDS rate load audit, only 6 percent check rates on a monthly basis and another 4 percent check rates weekly. The study concluded that one in every six hotel contracts is incorrect owing to discrepancies in rate, room type, amenity or cancellation policy. Those errors contribute to corporates overpaying by 14 percent in their negotiated hotel programs, the analysis found. Get the full story at BTN