Hotel occupancy is rising, and with it rates. Here are some tools to equip you for negotiations in this new seller's market.
Tips for meeting planners for negotiating with hotels in the new hotel seller's market
Forget the fact that the overall economy remains stagnant. Hotel demand is expected to grow 1.8 percent in 2012 , boosting occupancy levels to 60.9 percent, the highest since 2007, according to PricewaterhouseCoopers. Rates will increase by 5.1 percent, driving a RevPAR increase of 6.5 percent. And 2012 profits are expected to increase 12.7 percent at the U.S. properties participating in PKF’s latest Trends in the Hotel Industry survey.
We all know what’s next. So we’ve created this Seller’s Market Survival Guide for you, with inside intelligence to help you negotiate under these increasingly tight conditions.
Top 10 Negotiating Tips—Follow these and you will be off to a strong start. From our legal expert, Jed Mandel.
Understanding RevPAR—If you don't think this measurement of hotel revenue is relevant to you, think again.
A View From the Hotel Side—Learn which concessions matter to hotels, and which don't.
Much more negotiating advice here.
