AmEx, Ritz-Carlton Forge 'Folio' Partnership

American ExpressAmerican Express has added The Ritz-Carlton to its “Hotel Folio” partnerships, where cardmembers get analytical reports on lodging expenditures – a perk that is in demand by budget-tightening businesses.
“We’ve never seen greater corporate demand for Hotel Folio than right now, as businesses take proactive steps to control travel costs and strengthen their expense management programs,” said Jay Cary, Vice President, Interactive Product Management, Global Commercial Card at American Express.
The partnership with The Ritz-Carlton adds to folio agreements that American Express has forged with top hotel chains, covering nearly 80 percent of its clients’ card hotel transactions in the United Stats – more than any other corporate card issuer, according to Amex.
American Express collects folio data from nearly 15,000 hotel properties with seven major hotel chains across North America and around the world.
The Ritz-Carlton Hotel Company, based in Chevy Chase, Maryland, currently operates 73 hotels in the Americas, Europe, Asia, the Middle East, Africa and the Caribbean. More than 30 hotel and residential projects are under development worldwide.
Lodging is the second largest area of travel and entertainment expenses for corporate card clients. Breakdowns of lodging expenditures can help companies evaluate ancillary spending and investigate opportunities to further manage their travel and entertainment expenses.
Folio data also enables companies to track the use of negotiated room rates, and improve expense report processing, Amex said.
“We turned to Hotel Folio because it saves us valuable time when trying to wrap our arms around travel expenditures,” said Doug Burns, Global Travel Manager, Varian Medical Systems. “Integrating Hotel Folio has helped reduce the time needed to prepare each expense report — time that is now used for more mission-critical jobs.”
Amex showcases Varian’s use of Hotel Folio as a success story. Varian is a manufacturer of medical devices and software for treating cancer and other medical conditions.
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