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Leveraging Group and Transient Spend with Hotel Suppliers

Description
The intent of this document is to provide GBTA direct members involved in their companies' strategic meetings management programs (SMMP) with a tangible roadmap to drive savings and efficiencies across both transient and meeting-related hotel spend. Supporting the assertions within the initial white paper in the Framework for Success series -- Building a Strategic Meetings Management Program -- this document will outline the dual nature of the dynamic that exists within the hotel spend category. The dynamic is marked by historically disparate approaches for both selling and buying hotel inventory for transient (or individual) business traveler programs and for group/event programs (group).

First, we strive to provide the reader with an historical industry perspective, current market conditions, and current buyer/supplier trends that support the inclusion of this tactical process as part of a complete strategic meetings management strategy. We then move into similarities and differences of these two types of hotel business, followed by key concepts for successfully leveraging across both areas. As with all previous documents in the series, the GBTA Meetings Committee presents these concepts as broad strategies for consideration. The reader must take into consideration the company's culture, structure, and support of the overall strategic meetings management concept before implementing any of the ideas presented in this document.

While the application of buying strategies across similar spend categories has long been considered best practice, it is important for the reader to understand the subtle, and not-so-subtle spend process differences that make the application of this principle to transient and group hotel spend one that requires careful consideration in order to be effective. It is also pertinent to note that very few companies are currently demonstrating specific measurable results in this area. This is due to the lack of meaningful data across transient and group spend, the general immaturity of this strategy, and the dramatic impact such a strategy has upon the selling paradigms of our hotel partners.
Resource
(Reformat)_Leveraging_Group_and_Transient_Spend_rvsd_07-14-14.pdf(Reformat)_Leveraging_Group_and_Transient_Spend_rvsd_07-14-14.pdfNew description606 KB
Author
GBTA
Publisher
GBTA Meetings Committee
Publication Year
2014
Topics
Hotels, Meetings and Event Management
Resource Type
Whitepaper
Language
English
Subjects
Strategic meetings management programs, Hotels

Resource Details

Paul Yachnes
Paul Yachnes
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Date Modified: Jul 23, 2014
Date Last Modified: Jul 23, 2014
Category: GBTA Resources