Saving Money at your Next EventNancy Largay

Vice President-Global Services

My Experience

• Seasoned event manager with over 20 years of event management experience– Trade shows– Sponsorship– Buyers Summit– Conferences

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• Key items regarding hotel negotiations– F&B vs. housing block

• Striking a balance in the contract• Financial risk relative to your projected revenues

– Attrition vs. commissions• Maximizing revenues while minimizing risks

– Cancellation terms• Launching an event• Established events

– Discounts and Deals at Hotels• Peak season vs off season

Negotiating the best Hotel Deals

The Fine Art of Avoiding Attrition• Establish a timeline relative to financial milestones• Coordinate cancellation terms with milestones• If you run into any issues, get creative!

– Room upgrades for VIP’s– F&B spend shift– Host future events at same venue so the property

sees a commitment to future revenues– Work with hotel/don’t surprise them at the last

moment!

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Food and Beverage Costs• Buffet vs plated meals

– How is the hotel tracking meal consumption?

• Liquor-consumption or by the glass? • Providing the right guarantees if serving

buffet meals

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Vendor Negotiations• Hotel/venue providers

– Many can be good but always go out to bid to atleast 2 other suppliers to cost compare• Even if you lose hotel discounts, many external

vendors can easily beat hotel vendor pricing • If you have a long standing relationship with a provider you

love:– Go out to bid! – Even if you love them, others will come in with

competitive pricing which allows you to renegotiate the terms.

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Creative Crisis Management

• Always have a plan for the unexpected and budget accordingly– Set aside a contingency fund– Hold suppliers accountable financially for any

errors– Negotiate when surprises occur! – Don’t take solutions at face value

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• For more information, feel free to contact me at:

• nlargay@etouches.com• @leaderofthepack

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