Cvent

As we noted in a previous post, hotels can expect to see a decline in room demand and RevPAR in 2009. For planners, this means a shift from a sellers market to a buyers market, meaning you're looking at an opportunity add value to your meetings without adding much cost.

Drastically cutting rates is only a short-term solution for hotels—not to mention a very unprofitable one. Many venues will instead be looking for other ways to attract business, such as offering top-notch incentives. Complimentary Internet access, free parking, more upgrades, meeting rewards, lower food and beverage minimums and more may all be on the table.

Just keep in mind that, according to PKF Hospitality Research, demand for hotels will likely rise again in 2010. Coupled with the lack of new supply, this means that the buyers market won't be around forever. Remember to add value now as you plan meetings in 2009 and establish long-term deals.