Booking patterns for meetings are changing. While some organizations continue to reserve well into the next year, we’re starting to see more clients looking to lock in events just months or weeks out.
Why? The current economic landscape is impacting the way companies make decisions as executives weigh the latest data and other intelligence to help guide them. This shift is impacting planning timelines, which puts more pressure on meeting organizers who are tasked with coordinating in-person events and delivering on budget.
These short lead times can present a host of challenges to navigate. But there is a way to succeed—and even thrive—under compressed timelines. It comes down to being strategic, flexible, and proactive in your relationships with hotel partners.
Be Flexible When You Can
If you have any room to adjust your meeting dates or pattern (for example, Sunday–Wednesday or Wednesday–Saturday), use it to your advantage. Hotels are always looking for short-term groups to help fill gaps in occupancy, and they’ll reward a group with the best pricing and value adds when they can achieve that.
Consider asking your hotel partner about their specific need dates. Then, see if you can work within their proposed range. It may help you maximize your budget, unlock extra perks, and create the meeting your leadership teams are expecting.
If You Can’t Flex on Dates, Sell the Full Value
If your dates are set – be it from stacked executive schedules or internal deadlines—be prepared to articulate the full value your group can bring to a hotel.
For example, a group that can keep all its events on-site will be more impactful for the hotel than a group that will split time off-site. Also be sure to highlight how the property can capture more ancillary revenue because the group plans to use on-site amenities and services such as spa, golf, or team-based activities.
These factors could help a planner secure a room rate that keeps the meeting on budget while building in all the elements the meeting needs. The more comprehensive your business case, the more willing hotels will be to work with you on pricing and terms.
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Educate Your Executives
Unless your leadership follows the day-to-day shifts in group bookings, rates, and availability, you’ll likely need to manage expectations. Lay out the possible actions your organization can take to get the quality of meeting they want at an acceptable cost, like date flexibility, more on-site events, and even bringing another meeting to the property within a certain timeframe.
The more context you provide, the more aligned your team will be—and the easier it becomes to secure internal approvals quickly.
Don’t Underestimate Relationships
Lean into your relationships with hotel salespeople. They are as motivated as you are to book your meeting, and they feel the same frustration you do about these short-term hurdles. But when you can work together to find a solution, that relationship can pay off in a major way when it comes to great pricing and valuable enhancements for the meeting—things your executives would love to hear.
Read More: The List: Build Vendor Relationships Like a Pro
Looking Ahead? Book Now
It’s simple: secure your event dates with a property now. Any hotel, resort, or conference center that depends on group business for significant revenue aims to contract events as far out as possible, and they’re motivated to offer attractive pricing.
There will always be things affecting the short-term booking market—like fluctuating demand from the transient business segment and the leisure segment—and hotels must continuously adjust pricing to navigate that environment. But there’s one thing that stabilizes those variances: having solid group business on the books well ahead of time. Because of this, booking early has its advantages for event groups.
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John MacMullen is the director of business development for Pyramid Global Hospitality, a leading management company with more than 250 branded hotels, resorts and conference centers, including a collection of more than 50 independents in its Benchmark Resorts & Hotels portfolio.
MacMullen supports the company’s global sales efforts within the meetings industry, collaborating with planners from all over the United States on hundreds of conferences a year. He also sits on the Americas board of the International Association of Conference Centers (IACC).
