Rhode Island Hospitality Association Outlook 2009 Presented by: Joseph A. Rogan, Managing Director.
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Transcript of Rhode Island Hospitality Association Outlook 2009 Presented by: Joseph A. Rogan, Managing Director.
Rhode Island Hospitality AssociationOutlook 2009
Presented by:Joseph A. Rogan, Managing Director
Most Pressing Issues: Planners DilemmaMost Pressing Issues: Planners Dilemma
• Budget pressures
• Rising meeting costs
• Technology vs. face-to-face
• Airline costs, capacity and delays
• Impact of energy woes
• Perception of value of meetings / events
• Job market / job security
Source: 392 MeetingNews respondents / October, 2008
Corporate Market/Top Sub MarketsCorporate Market/Top Sub Markets
Providence/Warwick/Newport, RI82% of total corporate events come from the top 11 listings
600
500
400
300
200
100
3%
5% 5%6%
7%
9%9% 9%
14%
15%
16%R
etai
l
Food
&
Bev
erag
e
Con
sulti
ng
Phar
mac
eutic
al
Tec
hnol
ogy
Tra
inin
g
Insu
ranc
e
Fina
ncia
l
Man
ufac
turi
ng
Edu
catio
n
Med
ical
Total Events by Major Market SegmentTotal Events by Major Market Segment
4000
3000
2000
1000
1% 2%
15%19%
56%
Government Tour & Travel SMERF Association Corporate
56% of total meetings are corporate
Meetings Bottom Line: HoteliersMeetings Bottom Line: Hoteliers
• Competition is greater than ever before
• Volume accounts, loyalty, customer focus
• Account set vs. competitive set
• Knowing what is in it for the planner
• “Fill the Funnel” – keep on prospecting
• Fastest growth: SMERF (10 rooms or less)
In Conclusion “Stick to the Basics”In Conclusion “Stick to the Basics”
• Meetings competition is greater than ever before• 2009 will see newer and more aggressive competition
• Prospect more than the next person ever day
• Be clear on what makes you unique• Does your website make the case to all planners?
• Strategies to win new business• Account vs. competitive focus
• Total account management
• Small corporate meetings growth (12%)• Fastest growth area are SMERF groups (10 rooms or less)
Rhode Island Hospitality AssociationOutlook 2009