Top Tips for Choosing a Meeting Venue

So the Boss says... "I need to have a meeting, set it up." Those few word can strike terror in anyone who has not planned a meeting before.

For the novice, planning a Meeting sounds easy, right? Book a meeting room, order some coffee and donuts, throw in a screen and flipchart and you are set, right? Wrong!

I have always said, "EVERYONE should have to plan a meeting and wedding once in their lifetime to realize just how difficult and frustrating a process it can be."

Here are a few tips to make planning your next meeting a breeze.

Establish your budget! Sure if you have an unlimited budget it’s a snap – but how many times does that happen? Most meeting planners are on a tight budget and looking for ways to reduce cost and get more value for the dollars spent.

There are many factors to consider when planning a meeting that virtually can make or break your budget. Flexibility is a key factor! Are your dates flexible? Being flexible with the Time of year, Day of the Week, and Day Patterns can reduce costs considerably.

Before booking the speaker, first find a venue and inquire on the dates, availability and cost. Otherwise you are at the mercy of what is available. Always have a few dates in your pocket and compare costs. If you are dealing with a true meeting professional at a hotel, they will know when they can discount and when they cannot.

Another factor is to know the market of the area you are considering. For example, Resort or Destination Areas may have high demand on the weekends, but deeply discount during the weekday. Airport and Downtown Hotels may have high demand on the weekday, but will discount on the weekends. Ask the question: "What are your high demand dates?"

Let’s start with the simplest part of this equation, Time of Year. Planning your meeting during the slow times or off-season for hotels is a great way of keeping costs down. Yes, I know you do not always have the luxury of choosing the dates, but what a difference a week can make. Hotel business spikes and drops depending on the month. Check out their websites, as most have “Hot Dates/Hot Rates” posted. Ask the question: "Do you have any discounted dates?"

If you can, consider planning your meeting immediately before or after a holiday. I am not just talking Thanksgiving and Christmas. Believe it or not, hotels seem to slow down around almost any holiday – even Valentines Day!! The month you have your meeting is a huge determinant of what you will be spending.

Let’s take a look at a year in the Naperville, Illinois market:

January - Everyone is still in holiday mode so the first two weeks are your best bet for great deals.

February - Take advantage of Valentines Day and Presidents Day weeks.

March/April - Anytime around Easter is a great time to save! Also, these months tend to be sporadically slow because of Spring Break.

May/June - Things start ramping up; traditionally busy months.

July/August - Dog days of summer, typically business travel and meeting are slow due to end of summer vacations and the like.

September/October - Traditionally the BUSIEST months of the year. Why? Summer is over, the kids are back in school, vacations are over and there are only 2 months before the Holiday season begins. Try and take advantage of the week before and after Labor Day and over Halloween. If not be prepared to pay BIG BUCKS! This is the time where every venue is historically busy and demands higher rates. These are not the months to bargain.

November/December - The first 2 weeks of November are still fairly busy – but after that it is clear sailing!

Now that we have the months down, lets look at Days of the Week and Day Patterns.

Tuesdays, Wednesdays, and Thursdays are traditionally your most expensive days of the week to hold a meeting. Why? Well how many times has Monday or Friday been the ideal day for you, especially if the participants are coming in from all over the US? Monday and Friday are usually considered travel days – so it makes sense that you would want to plan a meeting Tuesday through Thursday. You are in the same boat as about 90% of other companies.

To a hotel or airline, Tuesday through Thursday is prime-meeting dates and can exact Prime dollars. Another factor is to consider the number of days for a meeting. You are in a better position to negotiate when planning multiple days rather than a one-day meeting. If you have to plan a one-day meeting, do not choose a Tuesday, Wednesday, or Thursday. Monday and Friday will be the best option to reduce costs. Hotels try to maximize space and dollars. If a Wednesday is booked, it stops the hotel from selling the room for multiple days and will cost the planner for it. Lastly, Two half-day meetings do not equal the cost of a one-day meeting. Most hotels charge for the day and not by the hour. So your half-day meeting will most likely cost the same as a full day.

Which brings us to, what effect Food/Beverage and Guest Rooms plays on the cost of your meeting room…..but I will save that for next month!!! And they think booking a meeting is easy…hmph!!

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Author Contact Information:
Kimberley Nosko
Director of Catering/Group Sales
Holiday Inn Select Naperville
1801 N. Naper Blvd
Naperville, IL 60563
630-505-4900 xt 131
630-445-6324 Direct
kim@naperselect.com
http://www.naperselect.com

Kim Nosko has been been in the hotel business for over 20 years. She started out as a banquet waitress while going to college and worked her way up in the hotel industry over the years.