Introduction
In today’s corporate travel landscape, competition among hotels is fierce. Winning a place in a company’s preferred hotel program can mean hundreds-or even thousands-of room nights annually. But how do hotels gain access to these opportunities, especially if they weren’t originally invited to respond to an RFP? The answer lies in competitive bidding.
With modern sourcing platforms like hotel competitive bidding solution for corporate travel programs, hotels can now participate in bids outside of traditional invitation-only cycles. For corporations, this opens the door to better rates and stronger competition. For hotels, it represents a golden opportunity to capture new accounts.
By leveraging a hotel rfp tool such as ReadyBid, both buyers and suppliers gain from this model: corporations secure better deals, and hotels gain visibility with new clients they otherwise wouldn’t reach.
What Are Competitive Bids in Hotel RFPs?
Competitive bids are unsolicited or supplemental offers submitted by hotels during the RFP process. Rather than waiting for a direct invitation, hotels can match themselves to corporate criteria (e.g., proximity to office, rate range, amenities) and submit an offer.
This model benefits both sides:
Corporations gain more options, increased competition, and better pricing.
Hotels gain access to accounts they weren’t initially considered for.
Why Competitive Bids Matter for Hotels
Access to New Clients
Hotels no longer depend solely on direct invites.
They can target corporations sourcing in their area.
Level Playing Field
Smaller or independent hotels can compete with big chains.
Corporate buyers see a wider range of options.
Increased Visibility
Competitive bids place hotels directly in front of decision-makers.
Even if they don’t win, they gain exposure for future cycles.
Stronger Negotiations
Hotels can showcase unique amenities, sustainability practices, or rate flexibility.
How Competitive Bids Work in ReadyBid
With ReadyBid’s competitive bidding feature, hotels can:
Identify active RFPs in their market.
Match themselves to corporate criteria automatically.
Submit bids directly through the platform.
Compete against incumbents for inclusion in a corporate program.
For corporations, ReadyBid ensures competitive bids are only surfaced if they meet company-defined requirements.
Benefits for Corporate Travel Managers
While hotels clearly benefit, corporations gain just as much:
More Options - Wider pool of hotels to choose from.
Better Rates - Competition drives down costs.
Improved Coverage - Ensures hotel options exist in secondary or underserved markets.
Flexibility - If incumbents underperform, competitive bidders are ready alternatives.
Real-World Example
A global technology company opened competitive bidding in a key city where incumbent hotels consistently delivered poor traveler reviews. Within 48 hours, ReadyBid surfaced five new hotel options that met all criteria and offered 12-18% lower rates.
The result: the company replaced an underperforming supplier, saved money, and improved traveler satisfaction-all thanks to competitive bidding.
Why Hotels Love Competitive Bidding
Hotels see competitive bidding as a new sales channel:
It’s cheaper than sending sales reps to trade shows.
It provides direct access to decision-makers.
It guarantees that their bid is reviewed (instead of being ignored in cold outreach).
For many properties, competitive bids are highly qualified sales leads that convert into long-term corporate relationships.
Best Practices for Hotels in Competitive Bidding
Respond Quickly
Competitive bids often operate on tight timelines.
Highlight Differentiators
Amenities, sustainability, safety, location, loyalty program benefits.
Offer Strong Value
Competitive pricing is key, but added perks help stand out.
Follow Up
Use bidding as a starting point for long-term relationships.
Best Practices for Corporations
Allow Competitive Bids Strategically
Especially in new markets or where incumbents underperform.
Benchmark All Offers
Use a hotel rfp solution to compare competitive bids vs. invited responses.
Maintain Compliance
Only accept bids that meet duty-of-care and policy requirements.
Use as a Flexibility Tool
Keep competitive bidding open year-round for continuous sourcing.
Why ReadyBid Is the Best Hotel RFP Tool for Competitive Bidding
ReadyBid takes competitive bidding to the next level with:
A global database of 230,000+ hotels.
Automated matching based on corporate criteria.
Unlimited competitive bid participation for hotels.
Compliance filters to ensure only valid bids reach corporate buyers.
Seamless integration into sourcing, negotiations, and final agreements.
This makes ReadyBid the ultimate hotel procurement tool for corporations and hotels alike.
Quick Resources From the ReadyBid Blog
Conclusion
Competitive bidding creates win-wins in corporate travel. Hotels gain access to valuable new accounts, while corporations enjoy stronger competition, better rates, and improved program flexibility.
With the hotel rfp tool ReadyBid, companies can combine structured sourcing with competitive bidding in one powerful platform. Hotels gain opportunities, corporations gain savings, and travelers gain better choices.
Don’t just rely on incumbents-unlock the power of competition. Book a Demo Today.