For all meeting and event planners—and owners of an independent meeting planning company, especially—developing and leveraging a business network is critical to success.
Meetings industry veteran Eric Rozenberg shares stress management strategies for independent meeting planners.
Mike Dominguez, chief sales officer, MGM Resorts International, became the first hotel supplier on the board of the Alliance of Independent Meeting Professionals (AIMP).
Meeting Planners Unite, formed to fight Marriott's commission cuts, changed its name to Alliance of Independent Meeting Professionals.
February 2019 will see another major chain joining the cohort of hotels reducing the commissions paid to independent event planners, when Hyatt Hotels Corporation cuts its rate down from 10 percent to 7 percent. Can the trend be reversed? I don’t have a crystal ball, but I don’t believe so.
In January 2018 independent meeting planners were met with some explosive news that reverberated throughout the industry: Marriott would be cutting commissions for third-party planners! Hilton, Hyatt and IHG joined the party, while smaller chains and independent hotels jockeyed for position by increasing their commission rates. More recently Loews Hotels took a notable stand and temporarily raised commissions.
What is it that you want your clients and prospects to remember about you? Which category, product, service or niche do you want them to associate you with? What is the positioning you want to have? How will your prospects and clients remember you? Clearly define your market position!
Do you remember the moment when you were introduced to the meetings industry? How did you feel? I have been an entrepreneur and an independent planner for more than 20 years, and yes, to me every independent planner IS an entrepreneur. And we're facing similar challenges too!
Meeting Planners Unite, an association of independent meeting planners that was formed in the wake of the Marriott International commission cuts in early 2018, announced it is offering a healthcare plan for members.
Loews Hotels is increasing its third-party meeting planner commissions to 13 percent at select hotels in 2019. The luxury hotel company is maintaining its current 10 percent commission structure at its other properties.