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Rhode Island Hospitality Association Outlook 2009 Presented by: Joseph A. Rogan, Managing Director.

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Presentation on theme: "Rhode Island Hospitality Association Outlook 2009 Presented by: Joseph A. Rogan, Managing Director."— Presentation transcript:

1 Rhode Island Hospitality Association Outlook 2009 Presented by: Joseph A. Rogan, Managing Director

2 Most Pressing Issues: Planners Dilemma Budget pressures Rising meeting costs Technology vs. face-to-face Airline costs, capacity and delays Impact of energy woes Perception of value of meetings / events Job market / job security Source: 392 MeetingNews respondents / October, 2008

3 Corporate Market/Top Sub Markets Providence/Warwick/Newport, RI 82% of total corporate events come from the top 11 listings % 5% 6% 7% 9% 14% 15% 16% Retail Food & Beverage Consulting PharmaceuticalTechnology TrainingInsuranceFinancial Manufacturing EducationMedical

4 Total Events by Major Market Segment % 2% 15% 19% 56% GovernmentTour & TravelSMERFAssociationCorporate 56% of total meetings are corporate

5 Meetings Bottom Line: Hoteliers Competition is greater than ever before Volume accounts, loyalty, customer focus Account set vs. competitive set Knowing what is in it for the planner “Fill the Funnel” – keep on prospecting Fastest growth: SMERF (10 rooms or less)

6 In Conclusion “Stick to the Basics” Meetings competition is greater than ever before 2009 will see newer and more aggressive competition Prospect more than the next person ever day Be clear on what makes you unique Does your website make the case to all planners? Strategies to win new business Account vs. competitive focus Total account management Small corporate meetings growth (12%) Fastest growth area are SMERF groups (10 rooms or less)

7 Rhode Island Hospitality Association Outlook 2009


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