Build a Realistic, Destination-Based Budget
A budget must be realistic and based on destination costs rather than an arbitrary per diem figure. They should know how much it will cost to send an employee on a given trip before leaving for the airport. If you must travel to expensive destinations, don’t despair. Many of the largest and costliest cities also offer money-saving advantages. All offer highly developed and efficient public transportation systems. If you have a limited transportation budget, it’s possible to travel within these cities relatively inexpensively.
Use Online Travel Tools to Your Advantage
Did you know that there are many online tools you can use to track airfare and hotels? In addition, Google will let you know during the booking flow if it expects prices to increase and therefore, make a recommendation to purchase the flight as soon as possible.
Having this kind of information can help not only yourself but the entire organization. Someone at the business can become a sort of in-house “travel bureau.” Get that person familiar with finding the best prices for car rentals, meeting and event spaces, and more. Then let your expert make arrangements for everyone.
Negotiate Hotel Rates in Frequently Visited Destinations
If you’re at a larger company with many employees that travel, see if you or someone responsible for booking travel can negotiate with hotels on rates. If you’ll be staying at a given hotel 10 nights in the next few months, that’s 10 nights about which they no longer have to worry about an empty room. That should be worth a special rate if you pay in advance. Hotels may provide a pre-negotiated corporate rate to you and your fellow employees. If you can tell them it’s between their property and another down the street for your 20 nights of business this quarter, they may offer some kind of discount.
Avoid Making Dinner the Most Important Meal of the Day
It’s almost always cheaper to invite clients to a nice lunch than a nice dinner. Sometimes a restaurant you can’t afford for dinner is within budget at lunchtime. Along these same lines, fill up on a free breakfast if it is offered at your hotel. It might decrease the temptation to order an expensive lunch or dinner.
Pack Lightly
It’s not always possible to pack lightly for a business trip, but the less you lug, the more cost savings are possible. I see business travelers taking local mass transit to the airport all the time–but those travelers don’t have three heavy bags in tow. They’re carry-on travelers who know it might cost $4.50 to take mass transit instead of paying a cab driver $30.
Car Rental Strategies to Save on Costs
It sometimes pays to book the smallest model at the lowest price, especially in places where they might not have a lot of sub-compact cars in stock. If they run out, they are required to upgrade you at the sub-compact price.
Waive the insurance offered at the car rental counter if your personal auto insurance or your credit card covers you. Car rental coverage tends to be expensive.
Always ask for a car with a full tank of gas, and be sure to return it full. That way, you’re only paying for the gas you burn.
Don’t Panic on Short-Notice Trips
While last-minute airfare paid with cash may be more expensive than you or your company may like to spend, consider looking at redeeming points or miles (perhaps from a company account). In many cases, airlines will offer more seats, at a lower cost in miles, closer to departure. That’s because the airline may rather give the seat to someone redeeming miles than have the seat go out empty if it remains unsold.
In addition, you can leverage tools like Priceline Express Deals for last-minute hotel bookings. While you may not know the exact hotel until after booking, travelers can save a significant amount, in some cases 50% or more.
Book Air Travel for the Middle of the Week
Saturday night stays are disappearing as budget airlines write new airfare rules. But a few airfares still require staying over Saturday night. Most business travelers want to be home on weekends, but if you can structure a trip to take advantage of a much lower fare, it’s worth consideration.
Speaking of Saturday, it is one of the three cheapest days to fly, along with Tuesdays and Wednesdays. Thursdays follow closely. Mondays and Fridays are frequently more expensive. Book accordingly.
Hands Off the Mini-Bar and Skip Room Service
It’s obvious advice, but it bears repeating: Hands off the minibar if you can. You would think twice about paying $8 for a package of peanuts on vacation and a business trip shouldn’t be any different? The same is true of a $40 in-room dining sandwich. Instead, visit a local restaurant or order delivery to be sent to the hotel.
