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Reversal of fortune: study shows shorter term doesn't up cost.

Publication: Business Travel News
Publication Date: 24-MAR-03 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
The long-held conventional wisdom that short-term meetings cripple a corporation's bottom line because hoteliers can charge a premium when lead time is scarce appears completely to have reversed itself. During the past six months, hotel rates for meetings with fewer than 90 days of lead time are, at worst, no different than those for longer-term events and, in many cases, are lower.

The findings are part of a Meetings Today study of the preponderance and effects of corporate short-term meetings. Only 10 percent of respondents to a poll of 101 corporate meeting buyers, taken in February and early March, reported that during the past six months hotels have charged somewhat higher rates for short-term meetings than for meetings with more than 90 days of lead time. Not a single respondent said those rates are much higher.

About 34 percent of respondents said they get better rates in the short term, a sliver of whom...

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