Hotel market demand has softened, reversing previous 3+ year upward trend in ADR's (Average Daily Rate)
Trend:  
  • Currently buyers market
  • Lower occupancy rates
  • Hotels more willing to negotiate incremental, non-room price related concessions
Opportunity:  
  • Consider establishing Meeting ADR rate caps by meeting type or market/city/region for internal clients. This will focus people on using most efficient rates available through preferred facilities thus reducing overall cost.
  • In buyer's market, consider multi-year agreements for repeat meetings to optimize savings once economy improves and ADR's increase.