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
04/10/23
• 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!
04/10/23
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
04/10/23
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.
04/10/23
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
04/10/23
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