understanding the value of your meeting- 5 factors that boost your negotiations power

Understanding the Value of Your Meeting:5 Factors That Boost Your Negotiation Power

Terri RobertsDMAI’s empowerMINT.com

Graeme HughesDirector of Convention Sales

Metro Tucson CVB

Christine “Shimo” Shimasaki, CDME, CMPManaging Director

empowerMINT.com & Event Impact Calculator

DMAI

Your Meeting’sDESIRABILITY????

The Desirability ContinuumAll meetings are NOT created equal.

Higher Negotiation

Leverage

Lower Negotiation

Leverage

Convene July 2012 ePanel Survey

Factor 1:Meetings Rooms to Guest Room Ratio

“Space Hog”Lots of meeting space

v. guest rooms

Lots of guest rooms v. meeting space

“Opportunity Creator”

Higher Negotiation Leverage

Lower Negotiation Leverage

Factor 2:History of Guest Room Pick-up

“Attrition Attractor”History of low pick-up

compared to block

History of high pick-up compared to block“Just Plain Attractive”

Higher Negotiation Leverage

Lower Negotiation Leverage

Factor 3:Time of the Year

“Amongst the Many”Meeting dates over times

of historical high occupancy

Meeting dates over times of historical low occupancy

“Need Period”

Higher Negotiation Leverage

Lower Negotiation Leverage

Factor 4:Arrival patterns

“The Blocker”Arriving on Monday

or Tuesday

Arriving on Sunday or Wednesday

“Conventional”

Higher Negotiation Leverage

Lower Negotiation Leverage

Factor 5:Total revenue potential

“That’s all she wrote”Limited or low

ancillary revenue

Lot’s of ancillary revenue

“Kitchen Sink?”

Higher Negotiation Leverage

Lower Negotiation Leverage

Accessing Your P.E.R.

1. Register at www.empowerMINT.com2. Access Your Profile3. View and/or Discuss Your PER

• The EIC measures the economic value of an event in terms of spending, jobs, wages, taxes, and ROI

® Flexible® Localized® Comprehensive

Funded by the Destination and Travel Foundation

Screen shot of economic impact results

Screen shot of economic impact results

Why do CVBs make perfect meeting planning partners?

• They are the best first call to help you FIND the right fit for any size meeting

– Comprehensive view of the destination– Local expertise– Extensive in-market relationships– And they’re FREE…to YOU!!!

CMP CREDIT

• This session has been verified by CIC to qualify for continuing education credit. towards the CMP certification.

• Participation has earned you .50 Clock Hours (30 minutes) for CMP-IS Domain: B Project Management

• We will send you an email following the webinar that will give you a link to print proof of your participation

• Simply list the course on your year-end detail.

• Thank you for participating!

contactus@empowerMINT.com or troberts@destinationmarketing.org

Any QUESTIONS?