More than 80% of hotel revenue was generated by credit card usage in 2010, so monitoring credit card transaction fees and charges should be a priority for hotel management.
Independent Merchant Group (IMG) reviewed the merchant services statements of two leading hotels and found unauthorized increases in transaction fees; processing rates and fees that were above-average for the hotel industry; and incomplete and confusing terms in the statements. IMG’s success in auditing the statements and restructuring the credit card processing agreements saved both hotels thousands of dollars; the company continues to monitor the statements to guard against fee changes.
This case study was presented to several hotel industry publications. These articles generated more than 800 calls from hotel industry professionals who wanted IMG to review their credit card processing statements and potentially locate similar savings for them.