Benefits of aggregated buying for meetings space

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Aggregated buying is one of the very founding principles of professional buying. Everyone working in or around procurement gets it – buy more, get a better deal. This principal can work the same way when booking venues for business meetings and events.

At Venues and Events International, we’re finding aggregated procurement is becoming more common as Clients look to maximise savings for meetings space. Many businesses run annual events, whether that’s an AGM, company conference or awards dinner, so looking further ahead and confirming meetings space for these annual events will allow them to confirm set rates.

We caught up with Olivia Unsworth, Senior Event Manager, who has successfully achieved savings for her Clients through aggregated buying.  

Is it true that aggregated buying and consolidated spending offers better discounts?

Yes absolutely. Where Clients know they have either quarterly, bi-annual or annual events, and they have a hotel group that fits their culture, it gives us more ability to negotiate rates to secure future dates, either within a specific hotel or within a group of hotels.

As part of our contractual terms with the venue(s) we book, we are able to protect our clients with a clause in the contract that says if they aren’t satisfied with the service received in year one, they can terminate the contract for year two without penalty. Just one of the benefits of working with an agency who can negotiate these contract terms on their behalf.

How does aggregated buying impact your venue-finding process?

By confirming either one hotel, or a particular group of hotels for a number of years reduces the amount of time we have to spend sourcing new venues each year. This allows us to prioritise our time on the physical delivery of the event.

Other than cost saving, what benefits do Clients gain from booking through one hotel group as opposed to multiple venues with different management groups?

Working with the same hotel team/group who understands your company culture and event specifications, simplifies the groundwork in event planning. This enables us to go the extra mile for those added value event touches to enhance events year-on-year. Even if we go to different properties, within the same hotel group, they will have similar policies and procedures that we will have implemented for the first event and so we can replicate for subsequent events. We will always carry out site inspections with the Client, when looking at the different properties each year, but we would do this if we were repeating the event at the same venue to ensure nothing new is required for risk assessments.      

Can you share any examples where aggregated buying has benefited your Clients?

We’ve recently been working with a Client in the Construction industry, looking at the Innside by Melia Manchester property this year and their Liverpool property the following year. Having secured the two dates, we’ve successfully secured reduced rates for the two years, saving the Client approximately 47%.

If you’re considering where to hold future events, and you have a particular hotel or brand of hotels you like to work with, get in touch to see how our team can negotiate and secure amazing deals.