p30 biz trav jan9 6/1/09 14:31 Page 30
Business travel
Martin Ferguson
020 7921 8011
maferguson@ttgbusiness.com
Keep up with the latest business travel news at ttgbusiness.com
‘Manage your
The incoming US government is being urged to
improve the country’s immigration controls
currency costs’
CORPORATES with large numbers of business
travellers are being urged to review their foreign
currency purchasing.
Travelex, the currency specialist, said many
companies were losing money by “gambling with
exchange rate fluctuations” as employees were
more likely to exchange cash at their conven-
ience rather than look for a competitive rate.
Companies could save up to 10% by better
managing foreign exchange procedures, said
Travelex, based on a survey of business travellers.
Jonathan Bennett, the company’s head of
corporate, said: “Recently, exchange rates have
fluctuated wildly. Companies are vulnerable to
paying substantially more due to the time it
takes for expenses to be submitted and paid.
“Many businesses are losing significant
amounts of money, particularly if they are
processing a high volume of expenses.”
Paul Tilstone, ITM chief executive, said: “Every
company, no matter their size or number of
travellers, should have sensible processes for
buying currency – whether that is buying in bulk Acte to Obama: Fix
or retaining small amounts of petty cash.”
Rotana steps
air traffic control
Martin Ferguson.
slated for complete replacement by 2025, it is
up Iraq plans
THE ASSOCIATION of Corporate Travel Executives widely recognised as the bottleneck responsible
has urged US president-elect Barack Obama to for the greatest number of delays, and the single
revise the national security policy currently in biggest cause of needless fuel consumption by
HOTEL group Rotana has signed a deal with place at the country’s airports. airlines waiting to take off and land,” he said.
Middle East hotel management company The business travel organisation wants the “We have recommended [to the government]
Summit Hotels to open a five-star hotel in the new administration to prioritise guidelines that the highly touted Next Gen programme be
capital of war-torn Iraq. surrounding laptop inspections and seizures, accelerated by at least 10 years.”
The hotel – scheduled to open by early 2012 – rules about document changes, and entry and Incoming Acte president Doug Weeks said
is expected to attract Western business travellers exit procedures for non-US visitors. tackling these issues would facilitate economic
working on projects to rebuild the country’s Acte believes a new strategy will eliminate the stability for carriers and consumers.
infrastructure. “piecemeal approach” to aviation and border He predicted that global business travel will
The property is situated in the “Green Zone”, security which it said generated expense for decline by up to 9% this year.
the heavily guarded diplomatic and government airlines and delays for international business “Consumer spending is expected to decline
area in central Baghdad. travellers. as the global jobless rate is anticipated to
At present, the UK Foreign Office advises An Acte spokesman said the Obama increase,” said Weeks.
against all travel to the country. government must also make revitalisation of the “These are the times that define the profes-
The hotel will have 250 rooms and suites, Club country’s ageing airways infrastructure a high sionalism of business travel managers.”
Rotana executive floors, restaurants and bars, priority. Acte’s next global education conference takes
conference facilities and a health/fitness club. “Although the air traffic control system is place on April 5-7 in Washington DC.
30 09.01.2009
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