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Hotel discounts drying up: buyers try leveraging meetings volume with preferred properties to ease high rates.

Article Excerpt
Though many buyers are driving more meetings volume to preferred hotel vendors, discounts are increasingly hard to obtain, according to an exclusive Meetings Monitor survey of 220 corporate meeting buyers. Hoteliers, however, said companies' efforts to consolidate do not outweigh market realities, and companies need to prepare to pay higher rates and be flexible in negotiations.

Nearly half of survey respondents, 46 percent, said their companies had developed preferred vendor arrangements with hotel companies specifically for meetings. Among that group, 24 percent said their company places between 1 percent and 20 percent of meetings volume with their partner chains. Twenty-seven percent of respondents place between 21 percent and 50 percent of the meetings at partner chains; 20 percent said they place between 51 percent and 75 percent of meetings at preferred chains; 21 percent said they place between 76 percent and 99 percent of meetings at preferred properties; and 7 percent said they place all meetings at partner...

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