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Article Excerpt
Though some financial services companies are holding more meetings this year, spending restraints on many large incentive events will remain in place, even as the national economy improves, according to buyers and industry analysts. Some financial firms are replacing national conferences with multiple, regional events. In many cases, those firms are limiting the use of luxury resorts, as meetings are shifted to less expensive properties.
New York-based Merrill Lynch & Co. will cut back the number of incentive meetings it holds this year by as much as 5 percent, said vice president of travel services Kevin Brady. The majority of meetings at Merrill Lynch are incentive events typically held at resorts, he said.
"This year, we won't cut back as much as last year, but if anything volume will be flat to slightly down," Brady said, adding that his firm has targeted incentive meetings for cutbacks more so than smaller meetings at local offices...
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