A survey finds program cancellations costing planners millions in fees, suppliers billions in lost revenue.
The average meeting planner expects to cancel or postpone meetings worth $560,000 in room revenue in 2009 and 2010, according to a recent survey conducted by the Professional Convention Management Association, American Express, and the Y Partnership. Those canceled or rebooked meetings account for, on average, $81,000 per planner in penalty fees. Fifty-five percent of the survey respondents were association meeting professionals and 45 percent were corporate or incentive meeting pros. When ...
Register for Complete Access (Valid Email Required)
By registering on MeetingsNet now, you'll not only gain access to The Cost of Canceling, you'll get exclusive access to a large archive of premium content.