Top News: Cvent Travel upcoming releases

The product team has two big improvements they're working to deliver in this window that we know you’re going to love:

1. Enhanced Bid Disposition for Transparent and Flexible Travel Program Decisions

2. Marketplace Intelligence Enhancements and Migration

Enhanced Bid Disposition for Transparent and Flexible Travel Program Decisions

Expected Release Date: 17 September, 2024

We are excited to announce the latest update to our application, featuring a comprehensive redesign of the bid disposition process. This enhancement is designed to improve transparency, flexibility, and user experience during the RFP process.

Target Audience:

• Travel Managers: This update is specifically designed to improve the experience and efficiency for TMCs and Corporations.

Important Highlights:

• AWR Rates Display: All room types will display an average weighted rate based on the rate type, providing comprehensive visibility.

• Extended Stay Rate Details: In the new UX, users will be able to accept individual extended stay rates and room availability.

Benefits:

1. Enhanced Transparency

   • The redesigned application allows users to view all negotiated rates and room types during bid disposition, ensuring complete visibility.

   • Users can now selectively accept extended stay rates based on room type and rate availability.

   • This replaces the previous system where rates were not displayed and all ES rates had to be accepted or rejected uniformly, regardless of specific details.

2. Consistent User Experience

   • The user interface for extended stay rate selection is now aligned with the daily stay selection process.

   • This consistency ensures a smoother and more intuitive experience for users managing both extended and daily stay rates.

3. Improved Decision-Making

   • Corporations can now make more informed decisions regarding which rates and hotels to include/exclude in their travel programs.

   • The ability to choose specific rates and room types enhances the negotiation process and aligns it with corporate travel needs.

Please find the screenshots below of the new application:

1. Account Accept - Daily Stay

2. Account Accept - Extended Stay

3. Account Decline

Marketplace Intelligence Enhancements and Migration

Expected Release Date: September 19, 2024

Overview:

We are excited to announce enhancements to our Marketplace Intelligence report. This includes more comprehensive rate types, competitive and benchmark data, and migrating the report to the Cvent Reporting Framework.

What's Changed:

• Cvent Reporting Framework: Buyers will no longer access the report from the portal but will access it in their Transient Sourcing Reports area. Moving to CRF will allow buyers the opportunity to use the default template or create their own version(s) and schedule or immediately run the report.

• Dynamic Rate Types and BAR: Dynamic percent off BAR and Dynamic with Ceiling (DWC) percent off BAR and ceiling rates are now available in the report allowing buyers to understand the full set of the offers in the benchmark data. BAR (Best Available Rate) is also now included to show the buyers the BAR over the next 30, 60, 90 and 180 days.

• Benchmark Methodology: To gain a better understanding of the corporate rates offered by hotel's competition, we revised the pull to include at least 20 offers from at least 5 hotels within the same area who have offered the same rate type and are the same proprietary star rating. If there is not enough data with that search, we will then expand the radius and move to adjacent star ratings. This allows us to better anonymize the data.

Impact:

• Cvent: Reduces our cost by moving to an internally developed framework and makes it easier to support our customers (no more third-party involvement). With the change to the benchmarking methodology, we are better able to meet any legal requirements.

• User Experience: There will be minimal disruption to our buyers. They may use the template as they did before but will have the added rate type and BAR fields to better inform them of like offers.

Visit our Community with questions

Questions about anything we’ve rolled out this window? As always, get questions answered in the Community via the Open Forum. Also, attend our quarterly Product News webinar, where the product team is on the call to share updates and answer questions!