In my recent travels working with clients and delivering keynotes as well as financial leadership workshops for management teams and hotel associations, I noticed an interesting way that more than one client used to “subsidize” their meetings – reducing their costs – and I wanted to share it with you.
Having your regional meeting, national meeting or hosting your association event is expensive. There are travel costs, perhaps speaker fees and venue costs. Depending on the type of event there can be accommodations, meals, audiovisual and meeting room rentals. For companies, there is also lost productivity cost associated with having people away from their day role in selling your hotel or managing their team. These all add up to some serious dollars and justifying the costs can sometimes be questionable.
We all know how important meetings are but there is no question about the expense. What I have learned is some clever operators are using an age-old system to cut their costs for meetings.