Does this sound familiar?
We are investing large sums of dollars in bid fees and incentives to attract events but with so many rooms that are booked outside the room block, we can’t prove the ROI of these funds.
Our customers don’t understand that we need room blocks and historical room block tracking to adequately value and advocate for their business.
Planners seem to be blocking the bare minimum to secure the event space they require. This leads to early sell out of the room block and a ton of untraceable last-minute reservations. Attendees have a mind of their own and are exercising their preferences whether it’s a favorite hotel brand, lower rates, or a different location.
Convention housing is an expensive investment and many risk-averse planners don’t understand how to efficiently manage this process.
Our customers’ events bring a ton of people and we know they are staying somewhere but our hotels don’t believe they benefit from these events we book. If we only had better tracking of attendee reservations, we could prove they are benefiting from the events we book.
If so, Here is How We can Help:
With so many factors (see Ride the Wave graphic) affecting the planners’ contracted room block, the question is…. how does your sales and convention services professionals best serve the planners, the attendee and exhibitor, account for as many hotel rooms sold as possible, and report on the true value of the event? The answer lies somewhere in the words, it depends.
Depending upon whether your customer is under blocked, over blocked, or uses courtesy blocks, to capture and report on room demand or any ROI (return on incentives) may require more than just one housing solution.
For these reasons, every engagement begins with an assessment of the events your convention services team is supporting and an introduction to a framework, uniquely designed to help your team analyze the housing opportunities for each event. A plan is established to capture the maximum number of hotel room demand or room reservations.
Hybrid housing solutions are meant to complement existing relationships with housing companies with post-cut-off reservations, but in addition offer alternative housing methods to those event organizers who tend to be averse to contracted room blocks. We’re entering an era where there are different solutions to the old problems surrounding the contracted room blocks and CVBs are uniquely qualified to bring these options to planners and event organizers.