Lead times remain short for meeting and event planners looking to secure the best deals from hotels and event venues. According to a recent MeetingNews survey, 41 percent of planners said their lead times for meetings of less than 100 attendees are 30 to 90 days before the event date. These abbreviated time periods are holding steady, as 73 percent of planners said lead times are about the same in 2009 as they were last year, while 15 percent said they are even shorter this year.
Paul Salvatore, HRG North America president of events and meetings management, told MeetingNews of one client who booked a Pittsburgh meeting for 160 people on September 24 just three weeks prior. Meanwhile, another client is waiting to announce its Boston meeting for 300 guests until a week before, in case a better deal comes along or it needs to cancel.
"Even though we made them aware of the penalties—both on air, using nonrefundable tickets, and on the deposit at the hotel—they factored all that into their budgeting and are willing to forgo their deposit and take the penalties," Salvatore said.
Meeting planners are obviously looking for a deal, and hotels are certainly willing to provide them.
"In the past, we would have to bring up additional features and benefits, concessions on F&B, meeting room rental and other things, and they seem to be thrown on up front," Salvatore said.
It's all just another example of how this is one of the best meeting buyer's markets in years.
"Businesses know it's a soft marketplace. They don't need to negotiate rates this far out, so we can go inside of 90 days and still get good pricing," Jim Fausel, Jr., Global Conference Associates president, told MeetingNews. "Most of inventory is still there within 90 days, at least for 2009."
Paul Salvatore, HRG North America president of events and meetings management, told MeetingNews of one client who booked a Pittsburgh meeting for 160 people on September 24 just three weeks prior. Meanwhile, another client is waiting to announce its Boston meeting for 300 guests until a week before, in case a better deal comes along or it needs to cancel.
"Even though we made them aware of the penalties—both on air, using nonrefundable tickets, and on the deposit at the hotel—they factored all that into their budgeting and are willing to forgo their deposit and take the penalties," Salvatore said.
Meeting planners are obviously looking for a deal, and hotels are certainly willing to provide them.
"In the past, we would have to bring up additional features and benefits, concessions on F&B, meeting room rental and other things, and they seem to be thrown on up front," Salvatore said.
It's all just another example of how this is one of the best meeting buyer's markets in years.
"Businesses know it's a soft marketplace. They don't need to negotiate rates this far out, so we can go inside of 90 days and still get good pricing," Jim Fausel, Jr., Global Conference Associates president, told MeetingNews. "Most of inventory is still there within 90 days, at least for 2009."
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