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Looking long term: planners implement policies to prevent short-term liability.

Article Excerpt
In preparation for the day they won't be able to book short-term meetings at reasonable contractual terms, buyers are instituting new internal mechanisms prompting meeting sponsors to deliver event specifications to meeting planners and managers faster, whenever possible. The means used vary, from specific policies enacted to compel sponsors to receive executive approval a specific amount of time before the event, to the introduction of technology designed to give sponsors and attendees a quick and direct avenue to meetings departments, as well as more unofficial communications between planner and sponsor, in which the potential financial ramifications of short lead times are analyzed.

While all of these moves can offer immediate cost- and time-saving efficiencies, the real benefit will be realized when the current buyer's market eases, as history has proven is inevitable. With some analysts forecasting increased overall demand...