Yesterday I blogged about how hotel CEOs are confident that group business, though down right now, will make a strong comeback. In the meantime, they said that today's buyer's market is the prime time for aggressive planners to secure great meeting deals.
The fact that this is the best meetings buying opportunity in years may not come as news, seeing as how just about every expert agrees that the deals to be had nowadays are unprecedented. However, what isn't stressed enough is the importance of acting now to get these deals.
"You have more flexibility if you’re talking about a meeting held between now and the end of the year," James Goldberg, association attorney for Goldberg & Associates, told MeetingsNet. "After 9/11, hotels were essentially giving away the store. If you showed up in early 2002 and said you wanted to book a meeting in 2006, hotels gave you low rates, all kinds of concessions.
"But when the market started turning around in 2004, 2005, and 2006, they were stuck with these deals they had cut three and four years earlier. This time around they are not doing that.”
If you have canceled your meetings due to budget constraints, it might be time to reevaluate. Today's deals and promotions might help you plan a meeting at a much lower cost than you'd normally expect.
And for those who have postponed meetings to a later date, perhaps in end of 2010 or beyond, it's time to seriously reconsider—these deals won't last that long. Either way don't forget that booking now can build goodwill with suppliers that will come back to benefit you in the future, even after the market has turned around.
The fact that this is the best meetings buying opportunity in years may not come as news, seeing as how just about every expert agrees that the deals to be had nowadays are unprecedented. However, what isn't stressed enough is the importance of acting now to get these deals.
"You have more flexibility if you’re talking about a meeting held between now and the end of the year," James Goldberg, association attorney for Goldberg & Associates, told MeetingsNet. "After 9/11, hotels were essentially giving away the store. If you showed up in early 2002 and said you wanted to book a meeting in 2006, hotels gave you low rates, all kinds of concessions.
"But when the market started turning around in 2004, 2005, and 2006, they were stuck with these deals they had cut three and four years earlier. This time around they are not doing that.”
If you have canceled your meetings due to budget constraints, it might be time to reevaluate. Today's deals and promotions might help you plan a meeting at a much lower cost than you'd normally expect.
And for those who have postponed meetings to a later date, perhaps in end of 2010 or beyond, it's time to seriously reconsider—these deals won't last that long. Either way don't forget that booking now can build goodwill with suppliers that will come back to benefit you in the future, even after the market has turned around.
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