Insights for Meeting Professionals
Associated Luxury Hotels publishes a regular trade newsletter — Destination Success — that offers fair and balanced news, trends and insights concerning the meeting industry. The newsletter also features profiles of ALHI members, mouthwatering restaurant reviews and Q&As to keep you current with our fast-paced, ever-changing world.
Also, please feel free to browse through our most recent press releases for news updates on ALHI and our members.
Are more planners booking longer term?
A: Yes! We're seeing a distinct increase in the number of planners who are booking further out, often to obtain the best value pricing, desired dates, and most favorable terms. But it is still a small percentage of planners who take advantage of this. Our surveys show that over 15% of planners surveyed have consciously increased or extended their purchasing pattern to secure what they want or need. That grew significantly, up over 65% from survey results completed the year before, which clearly reflects a longer-term view of many planners.
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Is there a trend toward shorter meetings?
A: Yes, there has been a distinct trend toward meetings conducted over fewer days. Groups are tending to "pack in" as much as they can into an 8 a.m.-5 p.m. day, with less recreational time, a working lunch, and more time for information dissemination. While this may be counter to the recognized benefits of providing a rewarding experience to attendees, it may reflect the need to be back in the business environment sooner to face those demands as well. We�ll need to watch it further to see if it becomes an emerging trend.
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When should we expect a change in this "Sellers Market"?
A: We know that a shift is coming. Soon new hotel supply in the American market will exceed expanding growth demand. In our Luxury Level arena, we see significant growth coming on line by 2010, which may be enough to begin the rebalance from the "sellers market" we now experience.
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Am I alone in experiencing more "small meetings" to handle this year?
A: No. According to a recent study commissioned by the Hospitality Sales and Marketing Association International (HSMAI), smaller corporate meetings will represent a major responsibility this year. While the total market for corporate meetings in the luxury sector has grown, the study projects that corporate meetings, with fewer than 25 attendees, will grow 13% in 2007.
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Do different incentive rewards appeal to different types of employees?
A: Yes, according to a recent study conducted by Maritz, which found that different rewards have different effects on employees depending upon their personality type. According to Maritz, "the findings identified six types of employees: 'award seekers' (who are motivated by monetary and trophy value); 'nesters' (who prefer awards that will not take them away from home); 'bottom liners' (who care most about the monetary value of their reward); 'freedom yearners' (who prefer a flexible work environment over any other reward); 'praise cravers' (who are most interested in being acknowledged for their work); and 'upward movers' (who don't care about rewards and would rather have opportunities to make a greater impact with the company)."
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Is "Culinary Teambuilding" a new trend?
A: Yes, it appears that incorporating culinary activities into meeting and incentive programs is growing in popularity. The Wall Street Journal even recently covered the trend. Activities can range from attendees pairing up to prepare a meal, to participants customizing their own version of a certain dish, to a wine-tasting event. An article on the topic recently ran in "SMERF Meetings Journal," where author Tonia Cook Kimbrough said, "a few hours in a kitchen can teach collaboration, stress management, communication, leadership, resource allocation, etc." (Many ALHI member hotels and resorts offer culinary teambuilding options, or there are many cooking schools that also offer this service.)
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What do meeting planners look for while searching for hotels online?
A: From our research we've found that meeting professionals first search the Internet for the destination, which is followed by property size, property type, and then by keywords.
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Is "Co-Creation" a growing trend in the business world?
A: Yes, "co-creating" with customers seems to be gaining in popularity. While following customer suggestions for improvement has always been a wise business move, "co-creation" takes it one step further. Consider the concept of WEB 2.0 and "Wikinomics," and the global collaboration that is now taking place on all types of issues and opportunities through blogs, defined chat rooms, Wikis, and peer-to-peer networks. Organizations no longer see their customers as passive recipients, but work together at the start of a project or program to jointly create what will be beneficial to both parties. Rather than presenting a completed final product, organizations garner early and continuous customer input to tailor the product, service and/or program that hits closer to the center of the desired target organizations seek. This new website is a perfect example of co-creation. By working with our customers and colleagues at the start on needs and wants, the website is most meaningful to planners and members. It offers optional ways to access the vast information on ALHI's properties and destinations in the manner our site visitors said they would prefer to search.
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Can incentive programs boost performance?
A: Yes, incentive programs can boost performance up to 44 percent, according to a study sponsored by the International Society for Performance Improvement, with a grant from the SITE Foundation. The study found that, if implemented correctly, incentive programs with monetary, travel, or tangible awards increase performance an average of 22 percent. Team incentives can increase performance by up to 44 percent. The study also found that incentive programs that run for a year or more greatly outperform short-term programs.
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