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Economizing without Agonizing: 20 Tips to Stretch Your Planning Dollar

posted Sunday, April 3rd, 2011 by Ashley Sostaric

In January, PKF Hospitality Research published results of a survey sponsored by Convention South Magazine. Of the 148 planners responding, nearly 32% said that they will be planning more meetings in 2011 than in 2010. And 37% said that they expected better attendance at their upcoming meetings and events this year.

Once this news got out, I could have sworn I heard a rousing rendition of the Hallelujah Chorus when I opened my office window. Hotel general managers and entire sales departments were actually smiling again.

According to PKF, budgets for meeting are, in fact, increasing right along with the number of meetings.  About 26% of the respondents said so. Yet overall affordability was rated as the most important element in selecting an event destination. Welcome to the new normal … a normal that is now spelled f-r-u-g-a-l.

This new frugality isn’t such a bad thing. There’s a difference between being frugal and being cheap. Frugal means smart choices, maximizing resources and stretching each budget dollar to its breaking point. Honestly, I kind of like it. I like the fact that first-rate hotel professionals see this an occasion to showcase their talents by developing solutions reflecting true value and creativity for their meeting planner partners.

For some hoteliers, this is their big break; their opportunity to wow you; their time to break away from the pack. And they don’t intend to let this chance slip through their fingers.

Here are 20 tips to--in the immortal words of Pink--“get this party started.”  Some you may already use, some you may have thought of using but never did and others may be new to you.

1. Hotel sales professionals are trained to thoroughly explore the objectives of your meeting or event, your meeting needs (way beyond rates, dates and space), the goals you hope to accomplish as a result of the meeting and your budget parameters. Give yourself enough time to explore each of these items so that you will receive a variety of solutions delivered in the proposal.   

2. Speaking of proposals … always ask for proposals from at least three hotels, even if you aren’t required to  and even if you have a favorite hotel and have been going there every year. Competition is healthy and you benefit. Look for custom proposals, unique to your needs and designed specifically for you and your group. Consider the proposal to be a reflection of how the hotel operates and the value they place on your business. Look for ideas that create memorable experiences for your attendees.

3. Barter. Think about what you have that they need. Are you videotaping the conference? Maybe the hotel could use footage for a new virtual tour. Professional photographer tagging along to take pictures at the event? The hotel may need new photos for their website.

 

For the full story visit Colorado Meetings and Events Magazine: http://meetingsmags.com/article/economizing-without-agonizing-20-tips-stretch-your-planning-dollar