WHAT IS ROOM BLOCK MANAGEMENT?
Everything you need to know about event hotel blocks
Everything you need to know about event hotel blocks
As an event professional, you might be wondering, what is room block management?
Room block management is a crucial aspect of event planning, particularly when it comes to securing fair market rates for accommodations. Managing a room block effectively involves several key considerations and strategies that can help optimize your meeting budget and ensure a seamless experience for attendees.
Room block management involves reserving a specified number of hotel rooms at negotiated rates for event attendees.
By managing the room block effectively, you can secure competitive rates, ensure convenient accommodation options for your guests, and avoid last-minute complications or inadequate availability. You also have the option to create new revenue streams through hotel rebates and commissions, and if you use room block management software like Meetingmax you can even monetize the booking process.
To begin, you should have a clear understanding of your accommodation requirements. Determine the number of rooms needed, the desired location, proximity to the event venue, and any specific amenities or preferences your attendees may have. This information will guide your search for suitable hotels.
Thorough research is essential to identify hotels that align with your event’s needs and budget. Consider factors such as proximity to the event venue, reputation, quality of services, and amenities offered. It’s beneficial to explore a mix of large hotel chains and independent hotels to broaden your options.
Once you’ve identified potential hotels, initiate negotiations with their sales or event planning departments. Clearly communicate your interest in securing a room block for your event and provide essential details such as event dates, duration, and estimated number of attendees. Highlight your event’s value to the hotel and aim for a mutually beneficial agreement. Click through for 10 tips to negotiate better hotel contracts.
Request detailed proposals from each hotel, including information on room availability, rates, and any additional perks or services they can offer. Ask for a breakdown of pricing, including any complimentary amenities or discounts for your attendees. This will enable you to compare proposals and select the most favorable rates. HopSkip is a useful tool for planners to make amazing-looking RFPs, discover and request proposals from over 120,000 hotels, compare projected spending side-by-side, and quickly identify cost savings.
Use your attendance forecast as leverage during negotiations. If you anticipate a significant number of attendees, hotels may be more inclined to offer competitive rates and additional benefits to secure your business. Emphasize the potential for repeat events or the possibility of recommending the hotel to other organizations. By using room block management software you will have a database to quickly pull reports from to prove your past event total room pickup.
Being flexible with your event dates can have a significant impact on room block rates. Consider adjusting your schedule to off-peak seasons or weekdays when hotels typically have lower occupancy. This flexibility increases your chances of negotiating favorable rates and securing a larger room block allocation.
Thoroughly review the terms and conditions outlined in the hotel contracts before finalizing agreements. Pay close attention to room block attrition clauses, cancellation policies, payment schedules, and any other relevant details. Ensure that the terms align with your budget and mitigate any potential risks.
Continuously monitor the status of your room block reservations leading up to the event. Regularly assess the number of rooms booked and adjust the block size if necessary to avoid penalties or unused rooms. Maintain open communication with the hotel to optimize the reservation process and ensure optimal utilization of the room block. Room block management software is vital for this. Rather than waiting on pickup reports from your hotel partners, you can see at a glance how your block is performing. Below is a screenshot of the Summary Page in Meetingmax which shows your room block performance at a glance:
By effectively managing your room block, you can secure fair market rates, provide convenient accommodations for your attendees, and maximize your event ROI. Diligent research, negotiation skills, flexibility, and proactive monitoring are crucial elements for successful room block management.