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Something we’ve talked about a few times before, but just won’t seem to go away…
Organizations are trying to be more cost-efficient at their yearly conferences given the state of the economy. From changing the menus and activities offered to the speakers presented, it’s no secret that organizations are cutting back.
How are you contributing? What has been the most difficult cost-cut for you?
We know travel has become more expensive - and many businesses and tourists have cut back, which is affecting luxury five star hotels.
This New York Times article sites a survey conducted by the National Business Travel Association on how businesses are cutting expenses…
…one way is staying at less expensive hotels: the brands of some of these hotels convey expense and luxury, and travelers are weary to seem extravagant at a time like this.
Do you normally plan meetings at five star hotels? Are you now investigating alternative locations and options? Or are your meetings simply on hold?
At the Meetings Quest Atlanta show this week, our team met a lot of great planners!
Many of them told us their meetings and conferences have been put on hold - for economic reasons.
Have any of your meetings been placed on hold? How are you and your colleagues dealing with the current state of the economy, and how is it affecting you?
Airfares are soaring, checking baggage is costing money, and it even costs more to drive to the airport!
How will this affect meeting attendance this coming year? Will people stay home? Or, do you think more corporate meetings will be held in-house? Are companies holding more Webinars (for large groups) and/or conference calls (for small groups)?
The slow economy has hurt hotel business overall - many of the large chains have experienced a drop in business…and their stocks are down.
Travelers are opting to stay closer to home or select less expensive sleeping options in order to combat increased prices and rising gas costs.
Since bookings in the meeting industry are done sometimes several years in advance, the slow down will take some time, but how long?
Has the economy played a role in where you are planning your next meeting? What can hotels do to generate business?