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Major hotel companies cutting event costs

2009-03-31

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Forbes As businesses keep scaling back, hotel companies are taking it easier on clients planning large events. The changes are hard to quantify because discounts are based on negotiable rates, but here's a look at deals some major companies are offering and how their events business is doing.

OMNI HOTELS: For meetings of up to 150 rooms booked by June 30 and held by Dec. 31, it's waiving fees of $10,000 or more that are levied when an event draws fewer guests than promised.

Omni is booking 20 percent fewer events this year so far than in 2008, said Tom Faust, the vice president of sales. But after cancellations spiked fivefold in December from the same month in 2007, they're now stabilizing to earlier levels.

Omni operates 43 hotels in the U.S., Canada and Mexico.

MARRIOTT INTERNATIONAL INC.: For events involving 100 rooms or more, Marriott is offering 2 percent discounts, doubling reward points and easing penalties for individual no-shows.

The company, which has about 3,100 hotels around the world, expects revenue from large events to fall 12 percent in 2009 from last year because of cancellations, changed plans and fewer bookings for new events.

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Source - Forbes

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