HOTEL CONTRACT NEGOTIATION
A well-crafted contract that is beneficial for all parties is an essential element of a successful event. To obtain the most favorable terms and conditions for our clients, we have developed a hotel contract template that can be customized specifically for your organization and the particular event. Typically contracts issued by hotels are one sided and can contain obscure language that can produce needless liability. Our contract has been designed to protect you from common (and uncommon) pitfalls prevalent in most hotel-issued contracts. For example, it contains language that preserves block and rate integrity and includes provisions that will ensure contract fulfillment thus reducing and usually completely eliminating attrition liability.
Room rates are always at the top of everyone’s mind in contract negotiation. Rate determination has been shifted from the domain of the sales and marketing departments to a relatively new entity called “revenue manager”. There are many complex factors involved when establishing a room rate for a particular event, least of which is the volume of the housing company! The rates are determined by considering the economic impact of your particular piece of business, demand over your dates and a host of other factors. Revenue managers employ sophisticated computer models, so as skilled negotiators, we must utilize both art and science to secure the best possible rates in that marketplace. The art is difficult to describe, however the science part is fairly straightforward. First we do our homework! We perform extensive research. After we have gathered the essential data, the art begins.
Utilizing our sophisticated tactics we have successfully negotiated very favorable rates and contract terms for our clients, and have demonstrated savings of hundreds of thousands of dollars of potential liability.
If you prefer, you may perform your own contract negotiation, and our assistance and expertise is available at whatever level you desire.