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Managing Your Company’s Travel Budget: Cut Costs, Not Corners

Managing Your Company’s Travel Budget: Cut Costs, Not Corners

Want to manage your travel budget without compromising comfort? Here’s what to avoid. 

Lola.com’s very own travel and Amadeus expert, Shelby Byrnes understands the weight that a travel budget can bring. Flights and accommodations are not inexpensive, and the fluidity of business travel often means paying change fees when plans go sideways. 

Trying to get a grip of your company’s travel spend can be a daunting task. How do you control the travel budget, while still making business travel as pleasant of an experience as possible? Not easy. That is why Shelby has identified five areas that should not be compromised when cutting business travel costs in order to effectively save money, and avoid making your business travelers’ lives a living hell. 

Shelby’s big no-no’s?

1. Basic economy flights

With a basic economy fare, your tickets are non-refundable and cannot be changed, even for a fee. Because business travel plans are often fluid, basic economy tickets become a massive waste of money when you need to purchase a new ticket altogether to accommodate altered plans.   

2. Non-refundable hotel bookings 

Non-refundable hotel bookings are similar to basic economy flights — they seem like a good deal on the surface, but the intense restrictions are an unfortunate match for business travelers. Non-refundable hotel bookings cannot be changed at all once you click “confirm”.

For the rest of Shelby’s tips on effectively cutting costs (without sacrificing traveler experience), check out the video below to hear more about Shelby’s top tips when it comes to cutting costs, not corners. 


About the Author: Kathleen Burns