Hotel Sourcing in a Seller's Market

Demand for meetings and incentives has rebounded over the last few years, and with that we’ve entered a strong seller’s market. With more meetings and events than hotel space available, you may feel pressured to compromise on venue sourcing. In fact, we recommend our clients source their programs 18-24 months in advance to secure space for future events.

Negotiating with suppliers in a seller’s market is a top challenge for event planners. And it’s no wonder. A recent survey of our own Maritz Travel buyers found that:

  • 45 percent are faced with inflexible dates/locations for upcoming events
  • 31 percent are asked to deliver more from their events with virtually no budget increase
  • 14 percent want to find availability and options in hot, new event destination markets

In this climate, we see that hotel costs like rooms and fees are increasing the prices of hotel sourcing overall and eating up more of your budget than ever before — without adding additional value.

Event Sourcing – Getting What You Want

If you’re spending too much of your budget on event sourcing, it’s time to partner with a corporate event management company that negotiates the best rates on your behalf. The best event sourcing partners:

  • Find the right destination options based on your needs, criteria and business goals.
  • Know which contract clauses most affect your goals. They have experience successfully negotiating contracts that optimize the value you’re looking for from hotel and destination partners.
  • Are more than just hotel contract writers. True full-service event partners have expertise to help you save money and optimize your event well beyond simply writing a hotel contract for you. Look for a partner who helps you save money on F&B, AV and other costs associated with aspects of your event beyond just room night costs.
  • Provide clear and consistent cost savings reports. Your executives want more from your meeting evaluation. Your partner needs to draw a clear line between venue sourcing savings and the bottom line.

How Maritz Travel Gets the Best Deals on Event Sourcing

Maritz Travel’s unparalleled buying power and preferred supplier relationships deliver great rates and concessions for our clients.

We work behind the scenes as an extension of you and your team, freeing you up to focus on other event priorities while we handle all the sourcing details, and get you the best deals for your event.

Last year we helped our clients manage nearly 4,500 events around the world. This size and scale allow us to help our clients achieve cost savings and favorable rates in a seller’s market. That means you spend less money and time on sourcing while reaping the rewards of more effective business events for your company.

In fact, in the last year, we:

  • Managed $1.3 billion on behalf of our clients
  • Saved clients an average of 27 percent to their bottom line
  • Executed 4,475 incentive programs and events 
  • Achieved a 4.7 out of 5 satisfaction rating from clients and guests  

Learn more about how a Strategic Meetings Management approach can save you time and money on your event sourcing.

Contact Us Today