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Friday, October 21, 2005

Negotiate Like A Pro

Meeting planners who negotiate successfully all have one thing in common: They know the value of their meeting from the hotel’s perspective. All too often, planners make the mistake of assuming that because their annual convention is valuable to their organization, it must be valuable to the property. But that’s not always the case.

Remember that a piece of business is only valuable to a hotel if it provides profit — maximum profit, if possible. (The value of your meeting drops, for example, if any other group wants the same dates and is willing to pay a higher room rate or provide more food and beverage revenue.) So be sure to thoroughly analyze every aspect of your event — just the way a hotel sales manager would. The result will be power and confidence at the negotiating table. Here are seven major areas to consider in your analysis:

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