Q: What is LodgingX?
A: LodgingX is a new feature that will incentivize business travelers to book and expense sharing economy options, such as Airbnb, HomeAway, and VRBO, when they travel for work. Since sharing economy options are often less expensive than mainstream hotels, employees have an incentive to consider these properties as a way to earn rewards, and therefore save more money for their companies. Employees also have the option to indicate that they are staying with a friend/family, increasing their rewards potential and saving their company even more.
Q: How does LodgingX work?
A: When searching for lodging options inside the TravelBank app, users are given an budgeted price for the total cost of a hotel, based on the location and dates specified in the search. Then the user can make a decision whether to book a traditional hotel directly in the TravelBank app, opt for alternative lodging by booking directly in the sharing economy service app of their choice, or stay with a friend. After the selection is made, users add their alternative lodging receipts to LodgingX within the TravelBank app so we can calculate the amount saved against their budget.
Q: Can users earn rewards on TravelBank for staying at alternative lodging or with a friend?
If the cost of alternative lodging or staying with a friend is less than the average price that was originally calculated, the user can earn rewards (if enabled by their company).
Q: Can users book sharing economy options inside the TravelBank app?
A: No. TravelBank currently does not carry sharing economy options such as Airbnb, HomeAway, or VRBO inventory. Users can book directly with those sites and add their receipt to the trip created in TravelBank.
Q: How many additional properties are represented through sharing economy options?
A: Sharing economy options represent more than 4,000,000 properties globally.
Q: Is LodgingX available for my org?
A: LodgingX is currently available to a select group of companies and will be available to all organizations using TravelBank in June 2018. If you are interested in enabling LodgingX, please contact us at firstname.lastname@example.org or message us through our in app chat.
Q: Will LodgingX be available on desktop?
A: Yes, LodgingX will be available on all platforms in June 2018.
Q: Is LodgingX competitive to Airbnb, HomeAway, and VRBO?
A: No. LodgingX is simply offering employees a way to track alternative lodging expenses when traveling for work and get rewarded for spending less on corporate travel.
Q: Does LodgingX save my company money?
A: Companies offering LodgingX reward incentives for their employees are seeing adoption rates for Airbnb and HomeAway increase 5x. Savings occur when the user selects a lodging option that is less than the budgeted cost (calculated by TravelBank’s proprietary algorithm) which is based on the location, dates specified, and company benchmarks.