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Venue Sourcing Expert+

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Presentation on theme: "Venue Sourcing Expert+"— Presentation transcript:

1 Venue Sourcing Expert+
In partnership with Conferences and Events LLC

2 Benefits of Our Venue Sourcing & Management
Leverages American Express’ buying power & supplier relationships to save money Saves time, allowing you to focus on other aspects of event planning with confidence Helps you place controls around the buying process with a 28+ point addendum Reduces financial risk of cancellation and attrition penalties Provides spend and savings information allowing for better budgeting and cash flow management Provides professional negotiated meetings contracts & rates Frees you to concentrate on strategic initiatives and deploy your resources most effectively Savings Visibility Reduced Risk Productivity Here are the benefits of meetings management. We provide: Savings – we offer negotiated meeting contracts with discounted rates Visibility – we demonstrate the spend and savings through standardized and consolidated reporting that allows for better budgeting Reduced Risk – we provide expertise in understanding contract language on T/Cs and protects against any further risk Productivity – we also allow you to focus on your own work while leaving your meeting’s sourcing to our experts

3 American Express Meetings & Events at a Glance
countries 140+ Depth of resources in 20+ years in Meetings Management 1,300+ meetings employees GBT has 100+ years in Corporate travel, representing more than $100 B of annual travel expenses HQ in NYC Manage approximately $2B in meeting spend 1200 clients in key markets Execute events locally with global, strategic vision Standardize processes that support compliance and risk mitigation 50+ Independent Meeting Consultants Globally 3.7M Room nights booked annually 15–20% average savings for our clients 46,000 meetings per year 400+ NA 500+ EMEA 125+ LATAM 50+ APAC

4 Market Urgency – Low Supply, High Demand
Increase in all meeting types Decrease in space availability of at least 2.6% through 2016 and Increase in hotel rates by 4.1% Growing trend towards mid-tier properties in smaller cities in the face of limited space availability. Resurgence of training and internal meetings driven by increased hiring. Major focus on getting employees up to speed in NA for 2016. Number of days per meeting stable – likely to help balance growing attendee base and increasing AGRs Incentives increasing – great to see this meeting type coming back. Only 4% indicated they would hold fewer incentives in 2016. Major city locations once again take a strong lead. With need to keep costs down major cities can provide both more affordable air, as well as make it easier for attendees to get in and out, keeping the total days of the meeting down. Finally, NYC, Miami and Houston are the cities adding the most new room nights, so could be good options for those seeking availability. Source: American Express Meetings & Events 2016 Meetings Forecast

5 American Express Meetings & Events Purchasing Power
Over 3.9 million room nights annually More than 1/3 of the total room nights reported to CMI More than the next 4 companies combined! 500K 1M 2M 2.5M 3.9M Source: Corporate Meetings and Incentives Top 25, issued September Data represents calendar year 2014 activity

6 The Sourcing Process Here is what we can do for you, which can save you time and most importantly allows you to be in control of your meeting. Venue contract finalized and contract turned over for final logistics Discuss options for further negotiations on selected venue Present a complete, easy-to-read report recapping your best options Electronically distribute your RFP to appropriate venues Upon receipt of your event specifications Here is the simple process you will experience when using our MX services First you will submit the online request form through the link. The link is a web-based application, and available 24/7 from anywhere in the world, and there is no password to keep track of. Within 8 business hours, our MEETINGS EXPERT Professional will contact you to go over your specifications and ensure we fully understand your needs. Then we go behind the scenes to source out your RFP, and within 72 hours delivers you a Site Availability Report. A small version is attached here, but it is simply a line by line comparison of venues. Once the hotel of choice is selected, our team goes back and negotiates each cost as well as the terms and conditions to obtain the high cost savings and risk mitigation possible. We will then deliver to you, a fully-negotiated contract ready for signature, a signed American Express Addendum (signed by the hotel). This addendum is 28+ points of terms from attrition and cancellation clauses to noise abatement etc. The American Express Addendum was developed by our legal department and is one of the strongest in the industry. There is a small view of the Contract Overview Report which is a record of cost savings and risk mitigation points for this contract. There are three firm deliverables for each meeting: 1) The Site Availability Report – a side by side comparison of venues; 2) A fully negotiated contract ready for signature accompanied by the AMEX addendum; and 3) the Contract Overview Report which is the document that confirms savings by line item as well as recaps the important contract due dates for rooming lists, deposits and the return date of the contract with signature. The contract/addendum plus COR arrive simultaneously.

7 Site Availability Report
Concise reporting with side-by-side comparison of details Comprehensive and thorough results (Estimated turnaround time: 3 business days - domestic / 5 business days - international) Organized, tailored output of information to meet your meetings requirements Allows for efficient review of results for final decision making Always in control of your meeting Your typical Site Availability Report includes: Includes: This is a sample screenshot of our Site Availability Report (SAR) that will provide you with side-by-side comparisons showing availability and preliminary rates at hotels for your consideration in making your final decision on the venue. Dates & Rates Guest Room & Meeting Room Internet Fees Optional and Alternate Dates Meeting Space assignment Average F&B pricing Meeting Room Rental Average A/V pricing F&B Minimums Applicable taxes Parking … and more Proximity to Airport

8 Reduce Risk Through Expert Contract Negotiations
Hotel contract covers and protects the best interest of the hotel, but we provide a 28+ point addendum that focuses on protecting you with some of the most important language. Some of our negotiated points include… Concessions Aggressive “ask” for both hard costs and “soft dollar” discounts and concessions to add value for your attendees and bottom line savings for you Group Rate Guarantee Guaranteed best available group rates for contracted dates Supports lowest rate guarantee & price offered to American Express Meetings & Events Attrition & Cancellation Generous Attrition allowances for room block flexibility with minimized risk of penalties Reasonable and fair cancellation terms that protect your interests as well as the hotel’s Includes credit for Rebooking Renovation & Construction Promises to advise of any activity at hotel before & after signing contract Allows the right to cancel without any penalty Rebooking Clause: The HOTEL agrees that the cancellation fee charged to CLIENT may be used as a credit toward another program booked within 12 months of canceled program. In addition, this credit that is charged to CLIENT can be applied to any other American Express customer booking a program at the HOTEL within the same period of 12 months. If the CLIENT attempts, in good faith, to reschedule a meeting within the timeframe outlined above, but the HOTEL cannot accommodate the planned meeting, cancellation penalties will be refunded to the CLIENT. Oversold Situation: In an oversold situation, the HOTEL will not release any rooms that have not been picked up by CLIENT without written consent. Group Rate Guarantee: As per your response to the RFP for this program, the HOTEL guarantees that no lower rate or special promotional rate will be in effect during the dates of the contracted program for comparable room types. In addition, the HOTEL will support a lowest rate guarantee representing and warranting that the pricing offered to the American Express will be equal to or better than the pricing for comparable rooms and services offered to any other customer. In the event the client approaches the HOTEL directly prior to contract signature and American Express should discover that a lower rate was offered to the client directly or any other client, the HOTEL will reduce the rate to American Express by an additional 10%. Renovation & Construction Activity: HOTEL agrees to notify American Express/CLIENT in writing prior to contract signing of any renovation or construction at HOTEL during program dates. If, after contract signing, renovation/construction becomes necessary, the HOTEL will notify CLIENT in writing immediately and make arrangements to limit any inconvenience to the CLIENT. If arrangements are not reasonable to the CLIENT, the CLIENT and/or American Express reserves the right to cancel the HOTEL contract without penalty.

9 Contract Overview Report
Critical information in one document Overview of contract which includes: Important dates: contract due date, deposit date, cancellation & attrition timelines, etc. Concessions provided Amount of savings negotiated Deposit details Turnover of Information enables you to manage final logistics This is a sample of a Contract Overview Report (COR) that will provide all the details of the final venue that you have decided on with all the contract details (due dates, deposit date, cancellation & attrition timelines) . This is a sample of a Contract Overview Report (COR) that will provide all the details of the final venue that you have decided on with all the contract details (due dates) and total savings on sleeping rooms, F&B, meeting room rental, and any other negotiable items.

10 Contract Overview Report (cont’d.)
Total Savings Achieved Breakdown of Savings on Guest Rooms In addition, on the COR, you will be able to see the cost breakdown of your event and the total savings achieved on sleeping rooms, F&B, meeting room rental, and any other negotiable items. Breakdown of Savings on F&B

11 Our Global Presence is Key to Our Clients Success
Ready to Get Started? 11

12 Getting Started Is Easy
Contact a Venue Sourcing Expert Today! or VENUE SOURCING PROVIDED IN AFFILITATION WITH: For Executive Admins & Meeting Planner Audience: On this slide is a link to each of the areas we just presented: The MEETINGS EXPERT Meetings Request Form link is where clients input their request and information for a meeting. And lastly, if you have any questions at any time, you can also reach out to our MEETINGS EXPERT Professionals at the above address.


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