The year is coming to a close, colleagues and industry partners are taking time off and gearing down towards the holiday season. You may be tempted to do the same as a meeting planner, but there could be some great benefit and cost savings when you put a bit of time into your year end RFPs. Even if you can’t commit to contract signature before the end of the year, the proposal from hotels serve as a great baseline for when you resume the process in January.
5 Benefits to submitting year end RFPs
- Current year rooms and rentals pricing – many hotels and other suppliers will put forward their current year pricing, even if contracts cannot be signed until Q1. Lock in this year’s pricing by putting your program on the books before the year rolls over!
- Additional incentives and concessions – hotels and hotel brands will often have signing incentives and bonuses with contracts signed before year end. Some could potentially be extended into Q1; remember to ask if any would roll over into the New Year.
- Current year food and beverage pricing – catering menus change often, but you may have opportunity to negotiate the current year’s catering menus before you see the price increases in Q1.
- Flexibility in contract negotiations – year end contracts may help loosen the reigns on some of those stickier contract clauses. Not only would the concessions be more flexible, but you may be able to negotiate more favourable terms in the areas of risk mitigation and responsibility.
- Get it off your plate! The start of the year is ALWAYS a busy one, with business plan development, year-in-review, and renewed energy around goals and resolutions. By getting that pesky RFP in the system by year end puts you ahead of your January goals!
Still looking to take some holiday time off to enjoy a gingerbread latte? Flip that RFP over to Stephen and Leanne at ConferenceDirect, and we’ll give you your time back and save you money and risk in the process!
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