Last month, I had to organize travel for four colleagues attending a trade conference in Chicago. Our usual hotel was fully booked, so I contacted three approved vendors and asked for rates, cancellation terms, breakfast details, and transportation options. I was fairly sure we could stay within the travel budget, but I knew the final cost might change once taxes and service fees were added.

The first vendor offered the lowest room rate, and at first glance it looked like the obvious choice. However, the quote did not include breakfast or airport transportation. The cancellation policy was also difficult to interpret. It said that rooms could be canceled without charge, but only until 30 days before arrival. After that date, the company would pay for the entire booking.