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To make the greatest success of your business, it’s likely you’ll need a little help along the way. But not all help has to come at a cost – in fact, it could be yours for free. Bedbanks - also sometimes known as global distribution partners - are powerful allies of travel agents, but the services they offer may be unknown to newer members of the industry.
Certainly in the case of smaller agencies or independents, knowing who your friends are in such a competitive space can be tricky, but striking up a relationship with a bedbank can be a real gamechanger – not least for the mutual benefits you’ll share in your partnership. Think access to hard-to-reach markets, global connections to hoteliers and other travel providers, and an exclusive portfolio of some of the most desirable locations and accommodation in the travel industry - and that's just working with us!
If you don't need any further evidence as to why working with a global bedbank like Bedsonline is the best decision you can make as a travel agent, why not register your agency for free today?
For those of you seeking a little more information, read on for 5 reasons why travel agents need bedbanks – and be sure to scroll to the end for a bonus reveal!
A resounding complaint from travel agents is that there just doesn’t seem to be enough time in a day. Between juggling new enquiries, tricky itineraries and keeping up to date with the season’s latest travel trends, how are agents expected to negotiate rates or expand their catalogue?
For independent travel agents, such tasks are nigh-on impossible; and even in the case of larger agencies, there is no guarantee that an executive can get their foot in the door without putting in serious work to build a rapport.
The benefit of bedbanks is that they have the time and relationships necessary to mediate with hoteliers and the like. By acting as the middleman, we’re able to broker fantastic deals which would otherwise be left off the table. Is there a hotel you’re keen to add to your catalogue?
Approaching the hotel (or chain) off your own back doesn’t only carry the risk of having to settle for a worse rate; it may well be that you’ll be turned away, as there’s no guarantee that you’ll be able to book the number of rooms necessary to be worth the hotel’s while.
Bedbanks, on the other hand, can negotiate based on the volume of hotels they’re likely to sell – by being an ally of theirs, you’ll share in that benefit.
The best rates available
To expand on the above, we do of course need to talk about money. Let’s say you (or your company representative) manage to get the conversation off the ground.
Who do you think will have access to the best rates: the individual who has shaken hands on a five-room deal, or the bedbank with a pre-determined, 50-room guarantee?
It goes without saying that the more rooms booked on the hotel’s behalf, the more favourable the rates will be for whoever does the selling. Once again, the bedbank’s historic rapport plays a huge role in battling those costs down and reaching the best conclusion for both the hoteliers and the agent.
Access to a wealth of hotels
You’ve probably determined by now that bedbanks have access to more areas of the industry than you’ll have on your own. This is an unmistakable benefit as, with the constant changes in the world of travel, you’ll want the ability to tap into new trends quickly and easily. This is only really possible if you have access to an extensive back catalogue.
Bedsonline currently have access to more than 300,000 properties worldwide, and that number is continuously growing. We’re always expanding our portfolio, meaning that as trends (such as sustainable holidays or ‘bleisure’ stays) continue to shape the travel industry, the agents partnering with us will already have access to the opportunities their competitors could only wish they were booking.
You can rest assured that our eyes are on trends at all times, too, with our powerful, AI-driven search tool The Compass. Read more about how this tool allowed our our travel agent partners to monitor popular travel trends in 2022!
Pay and get paid easily
One of the best things about working with a bedbank (and a point which, once again, relates to time management!) is that invoicing and payment becomes a breeze. If you’re an agent/agency with multiple hotelier relationships, you may find that you become inundated with bills from all directions come payday. However, working with a bedbank sees each of these payments consolidated down into one invoice, making settlements as simple as pressing a button.
Elsewhere, you can enjoy flexible payment options with Bedsonline. When making a booking, you can choose between ‘pay now’ and ‘book now, pay later’, the latter option requiring zero payment from you until three days before the cancellation penalty. Speaking of which…
Did you know that we have flexible refundable rates? In the post-COVID era, we understand that such reassurance is crucial to you and to your clients, so keep an eye out of our ‘free cancellation’ or ‘partial cancellation’ fees when making your booking!
We can’t speak for all bedbanks, but we believe that all partnerships should be built on a mutual benefit, which is why when you partner with Bedsonline, you will be rewarded for your growth and loyalty.
One of the ways we do this is by giving you access to incentives ranging from extra nights in hotels at no added cost through to gift cards, discounts or points systems. These are incentives you can either pass on to your clients or keep for yourself – whether you choose to share the discounted rate or to make more commission is up to you – but from time to time, we also run promotions designed to make your own life better! For example, we previously ran a promotion with Iberostar, where bookings of three nights or more saw agents rewarded with money off their weekly shop.
BONUS: Bedsonline will assign your business a dedicated account manager!
We care about the success of your business, and to help you thrive in the industry we’re pleased to provide you with a dedicated account manager. From helping you to devise a business strategy to providing you with personalized insights, your account manager will be your secret weapon.
By working together, agents and account managers will be able to identify opportunities unique to your business – but in order to gain that access, you’ll have to partner with us first! Thinking of working with the most powerful bedbank?
With 40 years of experience in the travel industry, access to incredible rates for more than 300,000 properties globally, and connections with more than 320,000 travel products in 200+ countries worldwide, Bedsonline are here to take your business to the next level.
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