May 18, 2024

Buyer/TMC/supplier partnerships explored in White Paper

The Advantage Travel Partnership has launched a Business Travel White Paper on ‘Remarkable Partnerships’ which sets out a formula for transforming business relationships.

It is based on findings from the consortium’s Business Travel Symposium held in February in London, alongside independent insights provided by business travel expert consultancy temoji.

Over half (53%) of the Business Travel Symposium audience considered purposeful relationships the one area they wanted to thrive above all others.

The paper acknowledges that growing divisions in the industry increasingly pose challenges for the TMC, companies and travellers.

“There are many reasons for these divisions, including fractured content delivery and emerging technologies, however, there is clearly a desire, and a need, to overcome these fissions and start assessing what is needed from each party to build successful working partnerships, that can weather the coming storms,” says the report.

Focusing on the relationship between travel buyers, TMCs and suppliers, the paper found a disparity between what buyers rate as important and what is being delivered.

For example, buyers rated ‘traveller experience’ as 4.6 out of 5 in terms of importance, but the reality rating only came in at 2.9 out of 5.

The paper has developed a formula for creating a “remarkable partnership” and outlines four top considerations when using the formula to elevate business relationships to remarkable partnerships.

The White Paper was announced on stage during the business travel plenary session at the consortia’s 2024 conference, which is currently being held at the 5-star Grand Palladium Costa Mujeres Resort and Spa in Mexico.

Andrea Caulfield-Smith, Managing Director – Global Business Travel of The Advantage Travel Partnership, said: “Having recently joined the Advantage team, it is already clear to me the importance placed on helping our members to develop the necessary partnerships to enable each and every one of their businesses to thrive in a competitive business travel landscape.

“One of the key themes that came out of the Symposium was personalisation and I think SME TMCs play a large role and can deliver the more personalised service that buyers are looking for.”