Negotiating in a seller’s market

Posted by Mike Mason

Apr 13, 2016 10:58:49 AM

 

Good times for hoteliers: Occupancy is at an all-time high, room rates continue to climb, and demand growth is expected to outpace supply growth through 2017.

But have no fear, meeting planners! These tips below will help you negotiate killer deals – even in a seller’s market.

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Topics: RFP Tips, Negotiations

In negotiation; as in life, it’s all about timing.

Posted by Patty Meister

Mar 19, 2015 12:39:00 PM

Booking a meeting can be a bit like buying a car.  You compile a list of models in your price range. Once you’ve had a chance to do your homework and test drive a few cars, you narrow your list down to your preferred vehicles.

Here’s where you have negotiating power.

You have proven you are serious about buying, but haven’t yet committed. Your car salesman is all ears now, you might even hear the old line “what do I have to do to put you in this car today”.

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Topics: RFP Tips, Negotiations

Tips for Successful Hotel Negotiations

Posted by Mike Mason

Feb 17, 2015 11:35:00 AM

Negotiations have changed dramatically with the existing market conditions. The key to getting great deals on your company meetings is knowing what value your meeting is bringing to the hotel.

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Topics: Negotiations

Legos 103: Cut-off Dates

Posted by Mike Mason

Dec 16, 2013 1:58:00 PM

(And no, it’s not a dinner-and-a-movie in jean shorts.) 

 

lego 

Negotiating your reservation
cut-off date is just the beginning. 

Managing to it is the real trick.


This is the final installment in our series on room block management, where we’ve pulled back the curtain to reveal how hotels work to manage your room block and their occupancy. (Here are the prior two posts:  Legos 101: General Block Management and Legos 102: Attrition.)

When it comes down to negotiating your hotel contract, few clauses have as much impact to the overall success of your event than your reservations clause and cut-off date. As a refresher, the cut-off date is the date when all of your room reservations must be made. By ”made,” I mean either the date your rooming list is due to the hotel or, if there’s no rooming list, the date when your attendees must have made their own reservations.

Any rooms left unused in your block after this date are returned to the hotel inventory and put up for general sale. And often these rooms are sold at a higher rate than your negotiated group rate. This becomes a real bummer for those who procrastinated in making their reservations (which I’m notorious for doing – ugh!).

Why Do Hotels Care about My Cut-off Date?

Before we dive into some key strategies you can use to better leverage the cut-off date, let’s quickly review why the date exists in the first place.

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Topics: Meeting Planning, Negotiations

Legos 102: Block Management and Attrition

Posted by Mike Mason

Sep 5, 2013 4:25:00 PM

 

Managing your room block successfully 
means understanding how the hotel thinks.

 

This is the second of three blog posts on managing your room block. Click here to read the first post about how hotels manage your block and the concept of “Blind Cuts."

I’m dedicating this post to the concept of attrition – the most scrambled, chewed-up term the hotel industry has in its contracts. Hotels have figured out as many ways to calculate attrition as there are Legos in Legoland. (I know – it’s the same metaphor used in my last post … but it works!)

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Topics: Meeting Planning, Negotiations

Legos 101: Block Management

Posted by Mike Mason

Aug 21, 2013 2:29:00 PM

Managing your room block successfully
means understanding how the hotel thinks. 

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Topics: Meeting Planning, Negotiations

History class is now in session, part 2 (Q&A)

Posted by Mike Mason

Jul 31, 2013 6:58:00 PM

Supercharge your RFP by sharing your meeting history.

In my last Zmail, I laid out the case for why your meeting history is so important to hotels and the secret strategies they employ to get your prior year’s meeting history. This week I’ll answer common questions about how hotels use your history and how you can get better deals from hotels because of it.

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Topics: Meeting Planning, RFP Tips, Negotiations

Class is in session. The subject: Meeting History.

Posted by Mike Mason

Jul 10, 2013 7:02:00 PM

(And I’m not talking about our forefathers’ Outlook calendars.)

This is part one of a two-part series on the importance of meeting history.

 

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Topics: Meeting Planning, RFP Tips, Negotiations

Concession Mania!

Posted by Mike Mason

Mar 25, 2013 12:07:00 PM

Concession Month rolls on here in Zentila-land. Over the last few weeks, we've tackled the most common concession requests, and even got a peek into how hotels think about concessions. If you've missed any, below are links to the other posts:

It's Better than Shark Week! 
Do Hotels Love Offering Concessions?


So let's tackle some more of the most popular concession requests, building on the first batch of concessions that we covered a couple of weeks ago. Think of these as "intermediate requests" -- a little more advanced than the basic concessions. And they can drive a ton of value to your group.

Killer concession #4: Suite Upgrades

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Topics: RFP Tips, Negotiations

True or false? Hotels love offering concessions.

Posted by Mike Mason

Mar 21, 2013 9:17:00 AM

We Know Salespeople. And We Know Fun.

(And we know some salespeople who are a lot of fun.)

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Topics: RFP Tips, Negotiations