Managing attrition is crucial to protecting your event’s financial success. By effectively controlling room blocks and minimizing the impact of no-shows or cancellations, you can ensure your event stays within budget. Here are some proven strategies to help you manage attrition and keep your costs under control:
1. Work from your History – Take at least four years of history and compare destinations. Consult with us to help you determine which destination tends to draw the most delegates.
2. Create an incentive to ensure strong pickup – Having delegates stay at the main conference hotels should be an incentive to have them want to stay at the hotel you have chosen for your meeting. Include incentives in your negotiations to ensure there is a benefit to staying within your block.
3. Communication – Ensure that your delegates and even board members understand how important it is to stay within your block. Education and understanding why it is important to book within the block is key to ensure folks understand the ramifications of booking elsewhere.
4. Delegate Deposits – This has proven to be very helpful with clients to ensure there is a commitment to their reservation. Cancelling 24 hours out may be allowed by the hotel while this ‘out’ can have a negative impact on your block. A 50% deposit 30 days out reduces the risk to your organization. Review cancellations on a case-per-case basis.
5. Registration Reduction – Reward your delegates who book within the block with a minimum registration reduction. Oftentimes it only takes a small reduction to ensure that they book within your block.
