Extra Credit
Jay Fortgang had a great idea last August: brokering hotel credits for canceled meetings that won't be replaced by new business before the credits expire. So he started MyHotelBroker (www.myhotelbroker.com). Different from a hot dates/hot rates program, Fortgang's service comes into play after the dates have come and gone, after the liquidated damages have been paid and the credit for nonrefundable cash deposits issued by the hotel. A planner with a $100,000 credit for a hotel she can't use before the credit expires can call Fortgang, who buys it at a discount, then resells it to another planner who can use it — after the planner and the hotel have negotiated a contract agreeable to both. “It's a win-win-win situation,” says Fortgang. Though inventory is limited at the moment, he hopes to have a national chain on board by January 2002.
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