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Cos. hold the cards: hotels not yet feeling strength of recovering economy.

Publication: Business Travel News
Publication Date: 19-JAN-04 		Format: Online - approximately 952 words
Delivery: Immediate Online Access

Article Excerpt
Despite expressed optimism from hoteliers and third parties about potential growth in corporate group and meetings volume in 2004, as well as an economy that appears to be gaining strength, hoteliers have not been able to translate those trends into a stronger hand in corporate meeting negotiations.

Buyers generally found little resistance at the end of 2003 and thus far in 2004 negotiating favorable terms on both room rates and ancillary charges and contractual clauses, despite what seems to be a modest spurt of demand as last year closed. Hoteliers, thirsty for corporate meeting bookings and the ancillary, revenue they generate, still are forced to negotiate for that business.

"December was outstanding for us, as hotels were very responsive to get deals done before the end of the year," said Rick Binford, national director of corporate sales for Twinsburg, Ohio-based meetings...

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