Deeper Value through Preferred Hotel Contracts

Challenge: Following the tracking of procurement data, Meetings & Incentives determined that nearly 40% of clients' meetings consistently book in one metro location. The challenge was each booking was being managed with no connectivity to the past business delivered.

Solution: After deep analysis of clients booking data, it was determined that creating a preferred hotel program in the metro area made great sense for all clients. The benefits of pre-agreed upon contracts include automatic cost savings, legal and compliance issues and driving volume into client partner chains. A dozen preferred hotels were contracted within the metro area, covering all major locations where the client typically met; including downtown, airport and multiple suburban locations. All preferred agreements are with Meetings & Incentives and not the client, further reducing any volume risks directly to the client.

Result: The preferred agreements take an average of just days to close as compared to the standard RFP duration cycle, drive a minimum of 25% cost savings per agreement, and meet all legal and compliance issues. All preferred bookings are noted on the quarterly client reporting.