In the U.S., where the event and meeting industry is booming, negotiating with venues and vendors for cost savings has become an art form and a key skill for event planners.

Preparation is paramount. And the contract is a critical component of this process, ensuring everyone is on the same page.

COVID-19 is prompting further changes to already complex contracts and the negotiations based on them.

It is always worthwhile to revisit the ever-evolving topic of contract negotiation…

Writing a request for proposal (RFP) can be one of the most time-consuming and difficult challenges an event planner faces. So what is the best way to create an RFP that streamlines the process of receiving estimates in writing and helps establish a strong sales relationship?

Negotiating with hotels isn’t a planner’s favorite activity even during a buyer’s market. However, the task is even tougher in the current seller’s market.

The current climate, both meteorological and political, is far from stable: Hurricanes Irma, Harvey and Maria; North Korea’s missile tests; and possible terror attacks have all been in the headlines.

Today’s hotel market has complicated traditional hotel contracts — and the planner’s job.

If you manage hotel contracts and contentious clauses right, your event can thrive. If not, there’s a price to pay.

Sloppy contracting and a lack of clear communication and negotiation over key terms is common in today’s harried meeting industry.