SOUTHLAKE, Texas--(BUSINESS WIRE)--May 2, 2005--
Findings Also Reveal Increased Awareness Among Financial
Executives About Travel Cost Savings Opportunities
Eighty-five percent of financial executives surveyed in January 2005 feel their companies will spend more or the same on corporate travel in the coming year, according to a recent business travel survey. The findings are from an independent survey conducted for the Association of Corporate Travel Executives (ACTE), an organization dedicated to the science of business travel management, and GetThere(R) and Travelocity Business(SM), leading providers of corporate travel solutions and part of Sabre Holdings. Survey results also reveal that more financial executives are starting to base travel budgets on a company’s expected sales, revenue and marketing goals, which may reflect the overall increasing health of the economy.
While business travel appears to be on the rise, corporate responsibility for employee safety still weighs heavy on the minds of senior management. Ninety-one percent of financial executives indicate moderate to high concerns about the safety of travelers, while eighty-six percent are concerned with the ability to track, locate and communicate with employees on the road. Sixty percent of respondents also share moderate to high concerns about the impact that financial problems suffered by major airlines could have on their businesses.
“The good news is that corporations are not letting security issues impede their ability to conduct more business travel this year, but company concerns about traveler safety still need to be addressed,” said ACTE President Greeley Koch. “ACTE is dedicated to working as an advocate on behalf of corporations to ensure these issues are given attention within the business travel community.”
Survey data also shows an increased understanding among financial executives about how travel expenditures impact the company’s bottom line. Respondents indicate they are less surprised at how much corporate online booking tools rose among respondents this year, with forty-four percent of executives using online booking to reduce travel costs, up from thirty-one percent in 2003. More than three quarters of financial executives also believe that new online corporate travel agencies could provide new cost savings opportunities.
“From a technology standpoint, the survey results reinforce that financial executives have greater awareness of how technology is giving them a clearer picture of how travel dollars are spent, helping them manage costs more effectively,” said Ellen Keszler, president of Sabre Holdings Corporate Solutions. “It also shows that companies continue to embrace online booking as a way to automate travel reservations because of the positive impact it can have to the bottom line.”
Additional Findings
-- More than seventy percent of financial executives feel their
companies have an accurate way of tracking travel
expenditures, compared to fifty-six percent in September 2003.
-- Nearly seventy percent of executives surveyed stated that
their companies "use technology well to plan and manage
corporate travel" compared to fifty-six percent in September
2003.
-- Sixty-eight percent of companies that use online booking
believe they have experienced significant cost savings as a
result.
-- Of the companies that use online booking tools, eighty-one
percent require the use of online booking for some or all
business trips, in the form of full or partial mandates.
For more CFO survey findings, go to:
http://www.getthere.com/documents/CFO_Survey_Data_Deck.ppt.
Survey Methodology
The proprietary survey was conducted from January 10 – 26, 2005 for ACTE (Association of Corporate Travel Executives), GetThere and Travelocity Business, leading providers of corporate travel solutions and part of Sabre Holdings. Results are based on a poll of BusinessWeek subscribers and were limited to senior executives with financial and procurement responsibilities (CFOs, senior VPs, executive VPs and presidents) that work for companies with more than 1,000 employees. A total of 374 online surveys were completed on a secure Web site, managed by InsightExpress, Inc., an independent market research firm. Two previous surveys were conducted using the same methodology in March 2002 and September 2003 for GetThere and ACTE.
About ACTE
The Association of Corporate Travel Executives was founded in 1988 as the education and research resource for the global business travel industry. ACTE conducts three international conferences, plus more than 60 executive forums, PowerTalks, and webcasts annually. With 2,500 members in 37 countries, the association is best known for its studies, position statements, and industry wide surveys.
About GetThere
GetThere is the world’s leading online corporate travel reservation technology. GetThere enables global corporations and government agencies to provide a convenient way for employees to book travel and plan meetings while significantly reducing costs. GetThere’s advanced technology works with all major global distribution systems (GDS) and all travel management companies. More than 3,000 corporations, including 60 percent of the Fortune 200 companies that have online booking sites, use GetThere. More information is available at www.getthere.com.
Sabre Holdings Corporation (NYSE:TSG) is a world leader in travel commerce, retailing travel products and providing distribution and technology solutions for the travel industry. More information about Sabre Holdings is available at http://www.sabre-holdings.com.
About Travelocity Business
Travelocity Business is a full-service corporate travel agency that helps companies easily manage travel and reduce costs, while providing more choices to travelers. Travelocity Business combines the savings and convenience of online with the full service of dedicated agents available 24/7 who typically answer the phone in 20 seconds, and within 60 seconds guaranteed (see site for guarantee details). Companies can cut travel costs through flight deals, Web fares, hotel discounts and service fee savings — representing an average savings of more than $100 per trip, including airfare savings averaging 26 percent per ticket and service fee savings of up to 84 percent (see site for savings details).
Travelocity Business combines the expertise, service and travel choices of Travelocity with corporate experience gained from serving more than half of the Fortune 200 companies. For more information, companies can visit www.travelocitybusiness.com.
CONTACT: Vollmer Public Relations
Mary Kate Smither, 972-488-4790
marykate@vollmerpr.com
or
Kristi Manning, 972-488-4790
kristi@vollmerpr.com
SOURCE: GetThere
