Incentive - March/April 2012

example, with hotels a high-season rate may be $450 and a low-season rate $250. But the cost of a one-night incentive stay award may be $300. The savvy IIT award user who wishes to travel during high season can realize significant cost savings—up to 35 percent off the retail price for a hotel room.

While incentive travel certificates have been mainstays of the reserve redemption option, travel gift cards (plastic and digital) are increasingly being used. Most of these cards are closed-loop products carrying specific dollar values. Reward earners use the cards to cover on-property charges.

An enhanced version of the travel gift card
is the TravelAwardsOnline Experience Card,
which crosses over multiple suppliers and
brands, allowing redemption for air, hotels,
cruises, rental cars, and more. By using this
product, a reward earner can customize a
travel experience.

3. Concierge. This option offers personalized travel consultation for reward earners. This perk is used in large consumer loyalty programs, where a service-oriented touch point is made with the reward earner. It is also used when a reward earner wishes to book a travel experience that is not in the program award catalog. Live-person assistance can reduce the potential for changes and cancellations and their associated fees.

Sometimes, there’s a service fee, which may be covered by the reward earner’s award value.

INDIVIDUAL INCENTIVE TRAVEL: A POWERFUL MOTIVATIONAL TOOL The ideal approach for addressing award redemption/travel booking options is to blend all three: hot access, reserve redemption, and concierge. This gives the reward earner the choice and flexibility that make individual incentive travel such a powerful motivational tool for business today. ■