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
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. ■
For a handy chart of award redemption and booking