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Current Trends in the Meetings and Events Industry Benefit Planners

The meetings business has changed significantly from even a few years ago. These days it is tighter, more competitive and faster than ever before. Several factors account for this difference: the travel industry was significantly impacted by the terror attacks and business travel has yet to rebound to pre-9/11 levels. Economically, many corporations are tightening their belts and holding fewer functions off-site in efforts to realize cost-savings; and technological advances are empowering meetings professionals with greater resources to help negotiate better deals.

Understanding the way the hospitality and events arena is changing and how hotels and venues are meeting this challenge can provide valid insights and useful tools for those who plan meetings. Below are five trends currently influencing the Connecticut meetings industry:

  • Meeting planners are more sophisticated
    Planners are looking for more services, seeking out better value-added benefits and increased guest amenities. They are more cost-conscious, negotiate better deals and are using technology and the web to shop around more effectively.

  • Meeting planning is now much more short-term
    The lead time for bookings has shrunk dramatically from 6 months to as few as 6 weeks in some cases. This makes it very difficult for hotels to plan in advance, they are more vulnerable to short-mid term market fluctuations and hence more open to negotiation.

  • Meeting planners are going to third parties to book
    Many corporations are outsourcing their meeting planning to third party companies. These booking-professionals have more experience, more negotiating power and increased leverage with hotels and conference centers as they may represent four to five different companies each with multiple events.

  • Some meetings have disappeared
    Post 9/11 many corporations are more circumspect regarding travel and are saving money and risk by eliminating or consolidating meetings. Many are using technology such as tele-conferencing or web-based meetings to substitute for off-site meetings.

  • Increasingly there is a tendency to stay away from urban environments
    Increased security in city centers and in particular with large events [DNC in Boston for example] is generating frustration and fear; the accompanying inconvenience for attendees has a negative impact on traditionally large conferences and events. This is an opportunity for hotels and venues in secondary and tertiary cities, which are often located close to major access routes: local airports, major highways and rail options - all the benefits of a major metro area, with less risk and cost.

Hotels are responding to these changes and finding ways to accommodate the needs of a more complex market. They have to be more competitive in sales and marketing and are using more sophisticated methods to communicate with meeting and event planners.

In the past hotels have marketed using direct sales, trade shows, print advertising in trade, business and association publications, and direct mail. Now the focus is less on print advertising, and more toward electronic advertising which allows more flexibility in message and is more fluid in implementation. Electronic advertising can quickly adapt strategy to market fluctuations.

In addition to traditional direct mail, many hotels are now using email blasts to advise planners of new services or special programs. Email allows the property to reach more people, more frequently.

Hotels are offering CMP's (complete meetings package) where instead of the traditional per room charge for guests - with a CMP the cost is based on a per person price for the meeting, which includes meals and other 'bundled' guest amenities such as: parking or phone service, and internet.

Byline:

Tari Marshall-Day is the Director of Sales and Marketing for the Four Points by Sheraton Hotel in Meriden, Connecticut. The newly refurbished hotel has over 14,000 square feet of flexible meeting space and 18 meeting and banquet rooms. For more information contact Tari Marshall-Day at 203-238-2380. www.fourpointsmeriden.com

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