The year 2024 marked a turning point for the corporate lodging industry. Hotel RFP cycles, once predictable and standardized, were reshaped by economic volatility, sustainability demands, traveler behavior shifts, and the rapid adoption of technology. For travel managers, the year was both challenging and instructive, offering valuable lessons for future sourcing strategies.

Organizations that embraced automated RFP management systems with enterprise-wide visibility found themselves better prepared to handle disruptions, negotiate smarter, and maintain compliance. ReadyBid, a market-leading hotel contract management platform, played a crucial role in helping corporations adapt to the changing RFP environment.

This article reviews the most significant changes in the hotel RFP market during 2024, highlights key takeaways for corporations, and looks at how these lessons are shaping 2025 and beyond.

Major Shifts in the 2024 Hotel RFP Market

1. The Decline of Annual RFP Cycles

The once-standard yearly RFP cycle became increasingly obsolete. Many corporations adopted quarterly or rolling sourcing events using hotel RFP workflow software, giving them flexibility to adapt to sudden market changes.

2. Inflation and Rate Volatility

Global inflation pressured hotels to increase rates, often mid-contract. Travel managers relied on corporate hotel procurement software to renegotiate and audit rates in real time.

3. Rise of Sustainability Standards

Corporations increasingly made ESG commitments part of every RFP. Hotels unable to meet sustainability benchmarks were left out of competitive sourcing events.

4. Traveler-Centric Procurement

Traveler satisfaction data gained weight in negotiations. Contracts were no longer measured solely on cost, but also on employee experience.

5. AI-Powered Negotiations

AI-driven sourcing and negotiation tools gained traction, helping corporations save both time and money.

Regional Market Reviews

North America

• High adoption of hybrid fixed + dynamic pricing agreements.

• Stronger reliance on technology-driven compliance auditing.

• Inflation-driven renegotiations became the norm.

Europe

• ESG clauses dominated sourcing events.

• Corporate travel programs demanded detailed sustainability data.

• Hybrid contracts were increasingly adopted.

Asia-Pacific

• Rapid recovery of corporate travel volumes created supply challenges.

• Mid-size hotel chains gained importance in sourcing events.

• Increased openness to flexible, short-cycle RFPs.

Latin America

• Currency volatility pushed corporations to prefer fixed-rate agreements.

• Regional hotel chains competed strongly with global players.

• Technology adoption lagged but showed steady growth.

Lessons for Travel Managers

1. Flexibility Is Essential

   Rigid contracts proved unsustainable. Flexibility clauses and rolling RFPs became standard practice.

2. Sustainability Is Now Non-Negotiable

   Corporations cannot ignore ESG requirements when selecting hotels.

3. Traveler Satisfaction Matters

   Happy employees drive compliance - and ultimately savings.

4. Data-Driven Negotiations Deliver Results

   Using platforms like ReadyBid, managers leveraged benchmarks and AI to secure better rates.

5. Global and Local Balance

   Procurement strategies needed to balance global consistency with local market adaptation.

How ReadyBid Helped Companies Navigate 2024

ReadyBid offered critical advantages for corporations adapting to the new RFP environment:

• Bulk Automated RFPs: Enabled corporations to launch sourcing events quickly in volatile markets.

• Rate Auditing Tools: Ensured negotiated savings were realized, even during inflation.

• Sustainability Integration: Scored hotels on ESG compliance during the RFP process.

• Traveler Feedback Dashboards: Factored employee experience into sourcing decisions.

• Regional Flexibility: Supported both global frameworks and local customizations.

ReadyBid served as a hotel sourcing automation software that made agility and intelligence possible.

Best Practices Emerging from 2024

1. Run multiple sourcing cycles per year.

2. Negotiate hybrid fixed + dynamic rate contracts.

3. Require hotels to disclose sustainability performance.

4. Include traveler satisfaction as a key evaluation metric.

5. Use hotel RFP optimization tools to manage complexity at scale.

Case Studies

• Technology Firm: Shifted from annual RFPs to quarterly events using ReadyBid, cutting sourcing cycle time by 60%.

• Global Consulting Company: Embedded ESG metrics into all RFPs, achieving 92% supplier sustainability compliance.

• Financial Institution: Audited rates in real time with ReadyBid, uncovering and correcting 9% of billing discrepancies.

Helpful Resources

• The Future of Hotel Procurement: ReadyBid’s Data-Driven Hotel RFP Solution

• Top 5 Hotel Bidding Trends Changing Travel Procurement in 2025

• Why Hotel Sourcing Is More Complex Than Ever and How to Simplify It

• Hotel RFP Tools That Work: Simplifying Corporate Hotel Sourcing From Bid to Booking

• The Biggest Challenges in Hotel RFP Management and How ReadyBid Solves Them

Conclusion

2024 was a year of transformation for hotel RFPs. Corporations learned that flexibility, sustainability, and traveler satisfaction must be embedded into procurement strategies. Technology played a pivotal role, helping organizations audit rates, benchmark performance, and negotiate smarter.

As we move deeper into 2025, corporations that embrace these lessons will remain resilient against volatility and future disruptions. ReadyBid, a leading strategic hotel sourcing technology, ensures companies stay ahead by combining automation, compliance, and intelligence into one powerful platform.

Book a Demo today and discover how ReadyBid can future-proof your hotel procurement program.