How are your facility rental numbers shaping up this holiday season? With unemployment numbers skyrocketing and businesses (that are still in business) reporting record losses -- it seems unlikely that companies will be spending big bucks on holiday parties this season. Large scale, expensive celebrations are a definite casualty of the economic crisis. Those in the convention planning are also feeling the pain as businesses and organizations tighten belts and rethink the way people meet, learn, network and share ideas.
According to an article at Business Week on-line, the economic "squeeze is prompting anxiety in the more than $120 billion-a-year U.S. Meetings Industry." Depending whether you're a cup half full or a cup half empty kind of person -- this news may strike you differently. The obvious dark cloud is that people will be spending less money on weddings, reunions and other celebrations. The good news is that people will be spending less money on weddings, reunions and other celebrations. Get it?
People still need to meet. They need synergy and more than ever they need to spend quality time with friends and family. But, people will be forced to fore go the expensive hotels, conference centers, resorts or ballrooms for more creative, less expensive options -- such as community centers, historical sites, parks and other outdoor venues. Those with camps and retreat centers can promote themselves as a less expensive substitute to pricey convention hotels. Frugality is in fashion and low-budget options are an en vogue necessity.
What are you doing to tell meeting and convention planners that you can fill their needs without breaking their shrinking budgets. How can you take advantage of the economy to position your facilities and venues as a refreshing alternative to more expensive sites?