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Coordinating Venue RFP’s and Contracts Smoothly

Coordinating Venue RFP’s and Contracts Smoothly. What we will Cover. How to develop the RFP that will get you results Tools to find the best venue options What factors a venue evaluates in developing your proposal Negotiations Concessions Contract terms

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Coordinating Venue RFP’s and Contracts Smoothly

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  1. Coordinating Venue RFP’s and Contracts Smoothly

  2. What we will Cover • How to develop the RFP that will get you results • Tools to find the best venue options • What factors a venue evaluates in developing your proposal • Negotiations • Concessions • Contract terms • Common negotiation and contracting mistakes • Q&A

  3. Developing the RPF that will get you results for Domestic meetings • Details: • Dates/Pattern/Flexibility • Nightly room block & pre/post room nights • Daily Meeting space requirements (#ppl and room set vs. square footage (see enclosed set up and square footage guide) • Move In time & Move out time • Concessions • Ask custom questions for any specific terms your organization requires upfront

  4. RFP Success • Flexibility & Transparency • The more information you can give about your event, expectations, and what worked well (or not well) in the past will help position the sales manager to get you what you need • Depending upon the size of the meeting you may need to book further out

  5. Be vague on budget expectations and do not rule out a venue due to the impression you can not afford the venue • Historical Data • Past venues • Historical room rates • Actualized room nights • Actualized F&B • What did the group like or dislike

  6. Tools you can use to research potential venues • Cvent • Aventri • EVENTup • Liquidspace • Venuefinder • eVenues • Regus • Snappening

  7. Cvent’s Top 10 2018 cities to have meetings • City Number of Hotels Total # of rooms Total # in one hotel • Orlando 265 74,273 2,200 • Las Vegas 191 156,785 8,500 • Chicago 177 50,482 2,019 • San Diego 210 37,460 1,628 • Atlanta 195 43,213 1,732 • Dallas 166 30,571 1,840 • Nashville 169 26,694 2,888 • NYC 502 101,032 1,965 • DC 196 36,120 1,175 • San Fran 190 31,711 1,921

  8. Factors hotels consider when developing a proposal or turn down • Rooms to space ratio/Peak room night • Budget • Food and beverage spend • Flexibility in pattern & set up • Reuse space • Required move in and move out time

  9. Best approach on when to start negotiations • Deal breakers should be included in the RFP process to save your time • Before negotiations determine top 3 cities (max) and 3 venues (max) within the cities selected • Determine your max event budget for the best success for your event • Negotiate the basics - dates/pattern, room rate, meeting space, & F&B for each location • Conduct site visits

  10. Once top city is chosen go back to the top hotels and negotiate the best package • Each event will have specific negotiation points that make the event a success • Consider Multi year with the same brand (same city or different city)

  11. Concessions • See the list for all of my favorite concessions (included in your packet) • What are your favorite “out of the box” concessions?

  12. Make sure concessions are NOT based upon 80% of guest room pick up • If you do not ask the answer is always NO • Pick your top concessions that impact your event profile • Some meetings focus on nice have amenities • Some meetings are strictly bottom line driven • And some are a combination

  13. Contract Terms

  14. Think about a standardized template

  15. If you have a legal department, always partner and consult with them • The more eyes & input on a contract will limit mistakes and will result in more • favorable terms

  16. Liability clauses should always be based upon lost profit • Guest room attrition • Food an Beverage performance • Cancellation

  17. Base your guest room attrition on cumulative room nights in the contract • Have an audit clause for rooms booked outside the block (ROB) in the contract and you • should get credit for them towards attrition if applicable • Have a lowest rate clause in the contract, both transient and group

  18. Outline in the contract your catering expectations • Performance Clauses for multi year contracts at the same venue • Renovation Clause • Charges after contract execution such as resort fees, energy surcharge, ect need to be • addressed in the contract • Lock in resort fees, service charge, labor rates, menu pricing whenever possible

  19. Attrition and Cancellation clauses should have resell clauses and venue needs • to show proof through city ledger reports that the rooms were not resold • Negotiate Cancellation clauses be based upon room revenue only

  20. Negotiation mistakes • Limit how many times you go back to negotiate with the venue • Competition! • Always ask!!!

  21. Contracting mistakes • Set a realistic timeline • Only having one set of eyes review the contract • If something is not addressed it is fair game to add on to your master bill or • your attendee folio

  22. Q&A

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