Contract Negotiation
We'll help you negotiate the best deal in town. Currently, the hotel market is a buyer's market. For the past eighteen plus months, the worldwide economy has severely impacted the hotel industry's revenues and bottom lines especially in the mid- to luxury-hotel markets. As a result, group business and hotel sleeping room rates and occupancy rates declined by double digits. In order to bring in much needed revenues and to be competitive in this new market, hotels began allowing more favorable terms and concessions in negotiating — including low or no attrition clauses, relaxed cancellation clauses, lower room rates and more complimentary amenities.
Currently industry analysts forecast an improvement in overall hotel room rates and occupancy rates in the near future, some stating the last quarter of 2010, and others in 2011. However, for the time being, demand for meeting space is still low, while supply is high. In short, this means more favorable terms and less risk for conference hosts. Let us assist you with your hotel negotiations and writing a contract that will limit your financial risk and exposure, while ensuring you receive the most favorable terms. We'll check the fine print so you don't end up with unintended expenses or surprises, and ensure that you keep within or under budget.
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