| Companies book hotel meeting spaces for a | | | | you the contract, their going to ask for you to |
| variety of different purposes. Here are a few | | | | book a certain number of rooms. If you don't |
| helpful tips for what to look out for when you are | | | | book that number, then you're liable to pay them |
| booking space at hotels for your own meeting. | | | | for those rooms whether anybody slept in them |
| As the President of the Information Marketing | | | | or not. Then they're also going to ask you for a |
| Association, I host a monthly coaching call for | | | | food and beverage minimum. This is the amount |
| info-marketers who have questions and are trying | | | | of food, coffee, lunch, and things of the like that |
| to launch their infopreneur business. Here is a | | | | you buy are all going to be factored into that |
| question from Scott in St. Louis, Missouri about | | | | original contract. Some of the provisions and then |
| what to look out for when booking meeting space | | | | there is going to be a cancellation provision. That's |
| at hotels. Since this is a common question, I | | | | the third thing that you really need to think about. |
| decided to prepare an article about this challenge | | | | Now in terms of the attrition, a couple of years |
| to help you. | | | | ago it was difficult to get any hotel contract |
| There are a couple of the key issues that hotels | | | | without a real aggressive attrition penalty in it. |
| are going to look for an attrition clause. Hotels are | | | | Now, that is less and less the case and I find that |
| in the business of selling sleeping rooms and while | | | | hotels are more open to negotiating those terms. |
| they do have meeting spaces at hotels, the only | | | | The other issue you must consider is the amount |
| reason they have that meeting space is so that | | | | of the food and beverage the hotel will require |
| they have the ability to sell sleeping rooms for the | | | | you to buy in order to use the meeting space at |
| people attending the meetings. As a promoter, | | | | the hotel. The thing that surprises most people, is |
| we want their space by guaranteeing the fewest | | | | when you buy say $5,000.00 worth of food and |
| number of rooms possible, however, they as a | | | | beverage, that is plus service charge and plus |
| hotel, want to give their meeting space up only to | | | | sales tax. That's like another twenty-eight percent |
| people who will book as much sleeping space as | | | | that you'll have to pay on top of that. If you look |
| possible. When you get the contract or when you | | | | at the contract and think, "Okay five thousand |
| engage in the discussion, the first thing they're | | | | dollars food and beverage will do great. That's all I |
| going to ask you is, how much space do you | | | | have to spend. That's my budget." Well, that five |
| need and how many rooms are you going to | | | | thousand is actually five thousand minimum food |
| book? And based on that equation, they'll figure | | | | and beverage plus tax plus gratuity, so that ends |
| out if they're going to give you any kind of | | | | up being closer to $6,500.00. |
| discounts on rooms. And then when they give | | | | |