There’s certainly a lot of talk about the impact of the economy on meetings and conferences these days.  Between government choices that are setting examples of where and how not to have meetings, and the economic impact on certain cities that go beyond the average revenue decline, Las Vegas being at the top of that list.  But how exactly is this economic situation affecting the typical meetings that corporations and non-profits continue to hold?  

Meetings are still happening, and will continue to take place.  Organizations certainly need to look at things differently to protect themselves from a possible drop in attendance and decrease in sponsorship/exhibitor revenue, but beyond the protection – they need to realize that things are different, and it’s not all bad.

Because of the situation hotels throughout the country are faced with – they need your business like they haven’t needed it in many, many years.  This means low room rates that have been unheard of in recent years, negotiations that wouldn’t have been considered are now being suggested by hotels, and hotels that would have had no interest booking a small meeting with minimal revenue potential are looking to fill their rooms however they can.  Organizations just need to know what to ask for and what to expect.

Even for existing contracts, our experience has been that hotels are working with us to renegotiate.  They want a win-win for all, and a stressed client who ends up paying attrition fees is not ideal for anyone.  Don’t be afraid to renegotiate your contract if you fear your rooms won’t be sold – it’s to everyone’s benefit that you’re successful.  Just be ready to give something back in order to successfully renegotiate. 

If your meeting involves marketing for attendees and sponsorships or exhibit sales – then it’s vital that you realize that people are still going to meetings and conferences.  They’re still traveling and paying registration fees.  They’re still exhibiting and sponsoring events.  But…they are making choices that they haven’t had to make in the past.  Where they may have attended three meetings each year, they’re only attending one or two.  Where tradeshows were a powerful part of their sales plan, they’ve cut back to limit the shows they participate in.  So the lesson here is to make your event the event they choose.  Be creative.  Think outside of the box.  Understand that your messaging is more important than ever and your value proposition must be powerful.  Don’t do simply what you’ve always done – because you won’t get what you’ve always gotten.   Times are different, but this also creates opportunity for the organizations that plan their meetings correctly and aren’t afraid of change.

We can help with all aspects of your meetings.  Please e-mail clientservices@safeharbors.com or call 443-923-1417 for more information