By Bev Fearis, published 14/10/20
The Business Travel Association has brought forward a consultation on the need for a new approach to TMC pricing.
The consultation was originally planned for 2021 but is now being accelerated given the devastating impact of Covid-19 on the business travel sector.
The BTA has partnered with industry consultant Nina & Pinta to develop a white paper exploring approaches to three TMC pricing models: transaction fees, subscription fees and management fees.
In the next eight weeks, the BTA will be consulting with the TMC and corporate travel buyer communities on each model and working with them to develop new industry standards.
Clive Wratten, CEO of the BTA, said: “In recent years, there have been growing calls for evolution in the way TMCs price their services. The impact of Covid-19 on our industry has made that need more vital than ever, and the BTA is committed to leading the industry with this catalyst for positive change.
“For our industry to evolve, especially in these challenging times, there needs to be an open, honest and constructive dialogue between all of the key stakeholders, and that is what the BTA will be seeking to achieve in the weeks ahead.”