How to Get Free Meeting Space and Other Hotel Concessions
Stephanie Edwards is speaking at the next session of Ralph Elliott’s Continuing Education Marketing Conference being held on August 28-30, in Chicago on the Magnificent Mile at the Marriott Courtyard Downtown Hotel. One issue I will be discussing is “How to Get Free Meeting Space and Other Hotel Concessions.”
Food, lodging, and meeting space are some of the most significant expenses a conference director faces in budgeting for their events. Especially in this uncertain economy, it pays to negotiate smart, tough contracts that lower or eliminate your performance risks, reduce food and beverage costs, eliminate meeting room rental charges, and guarantee you a low sleeping room rate. I recommend the following in negotiating a recession-proof hotel contract:
- Know your program – what are your performance histories, sleeping room pick-up, food and beverage program, and meeting room needs? What concessions are most valuable to your group? Identify your top needs and target your negotiations accordingly. Provide the venue with detailed information that proves your professionalism and experience. You are asking the hotel to share in your performance risk – the more information you can provide during negotiations, the more confident the hotel will be in foregoing standard performance penalties.
- Chef’s choice food and beverage – a great way to shave expense is working with the property chef to come up with a custom menu for your program.
- Do not pay for meeting space – guarantee the hotel a minimum food and beverage expenditure in lieu of meeting room rental fees.
- Eliminate sleeping room attrition – if your performance falters, you are already facing a revenue shortage. Attrition penalties force you to pay for unused sleeping rooms and can represent a crippling expense for an underperforming program. Do not sign for attrition.
- Err on the side of caution – Many conference producers, enthusiastic about their programs, overestimate the projected performance of their event. This common mistake can lead to performance penalties, damage your relationship with favorite venues, and cause lots of stress. Asking for more rooms or space post-contract for an over-performing event is almost always a better problem than trying to get out of obligations for an underperforming event. Be realistic, plan conservatively, and book a meeting room that can accommodate modest growth.
To learn more about booking sound contracts, attend Ralph Elliott’s conference in Chicago. Register on-line or just call Clemson’s Kay James at 864.656.2200!