Can we negotiate a rate with the hotel that is lesser than what the company gives and book directly with the hotel ?

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Yes

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Yes. You’ll find that hotel biz dev managers are down to do this if you bring them a large team for an extended period. Doesn’t work in major cities like NYC or Chicago, for obvious reasons.

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No

Basically, you’ll need to commit to probably dozens of rooms Mon-Wed nights for a while. I did this at PwC some years back when we had >50 onsite each week for more than a year and saved the client a bunch of money over our already decent rate. We then had that rate loaded in our travel booking system for tracking and compliance reasons - we wouldn’t have had a reason to book directly.

Like any other business case, you’ll have to convince the hotel that the significant traffic you’ll bring merits a discount to guarantee the revenue and is better for them than listing the rooms at a higher rate and taking the chance they go empty.

I was able to negotiate a rate for only myself and a few other people, you don't necessarily need a large volume of people (though it certainly helps). I pointed to one of their major competitors in the area having a lower rate than them

We did that on my project, but we don’t book directly with our hotel. It’s still through our travel booking portal.

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