RFPs in meetings demonstrate cost savings and additional benefits for Venues and Events International clients

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Venues and Events International recently carried out several RFPs for meetings for their clients and have received some fantastic results.

Trends suggest the size of meetings are decreasing and corporates are often wanting to see consistency in their smaller meetings for efficiency and cost savings. Venues and Events International has recently carried out several RFPs for their clients’ meeting requirements.

On one programme the team carried out an RFP for a client where location was crucial to the success of the RFP. Venues and Events International carried out a full market analysis across the M3 and M4 corridors, key booking locations for this particular client where research showed key areas of rate increases.

The RFP process began with 45 hotels and followed various stages of negotiations. Due to their thorough market research, Venues and Events International had an open and honest approach with hotels and venues to keep rates the same and where this wasn’t possible, the team negotiated value added extras such as free Wi-Fi or additional teas and coffees. The final meetings programme was reduced from 20 hotels the previous year to 15 which encouraged hotels and venues to keep rates flat due to the perceived increased volume of bookings they would receive.

Beverley Kong, Associate Buyer from QinetiQ, commented on the process: “For us it was such a smooth process, allowing Venues and Events International to carry out all the market research, highlighting key locations of rate increases and putting forward proposals of new venues for our meetings programme. It’s such an effective way for us as a business to keep meeting costs to a minimum and saves further negotiation and allows for simple booking of our meetings.

By having a reduced number of venues on our programmes also allows us to build relationships with individual venues, they then start to understand our individual requirements for our meetings.”

Anita Lowe, CEO of Venues and Events International said: “As experts in our industry, we need to create strong venue RFPs to ensure winning venue partnerships. There are three main considerations when we work with our clients on an RFP for the meetings programme; their main objective; the style of the meeting and how the space should reflect their culture; and the meeting requirements in terms of space, AV and food. Once we have this information we’re able to carry out a thorough RFP with hotels and venues to get the best results for our clients. We’ve recently carried out a couple of successful RFPs as our clients understand the benefits of being part of preferred programme to ensure consistency in the quality of their meetings.”