Monday, August 20, 2012

Time is Money

If you're holding a meeting over several days in a hotel it's typical to ask for a "24-hour hold" so that whatever set-up you have stays in place overnight. From the hotel's point of view, that's often a missed opportunity if they can they can re-sell that space for an evening event and make more revenue.

A colleague told me a story recently where a hotel (which will remain nameless) wanted to charge her client $10,000 to keep their meeting room on a 24-hour hold. She was able to negotiate the charge away - of course! - but it's something to watch out for.

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