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HBAA, the trade association for the hotel booking agency, apartment and venue community, has launched a meetings rates benchmarking tool.
Following a 2016 membership survey, HBAA identified that having access to meetings benchmarking data would be beneficial when negotiating rates for meeting enquiries, allowing agencies’ energy and expertise to be “utilised more effectively”.
The tool enables bookers to reduce the need for multiple options for simple meetings, allowing agency resources to be spent on more complex meetings enquiries and bookings.
HBAA adds it provides additional benefit that market rates will not be inflated due to false demand, which can happen when space is held for benchmarking purposes.
The tool is offered to “opt in” agencies at this stage, with the appetite to roll out to venues in the coming months.
Leigh Cowlishaw, HBAA chair and director of supplier partnerships at Capita Travel and Events said “The HBAA set out clear objectives this year, with the launch of an industry leading, simple meetings Benchmarking Tool being high on our priority list for deliverables.
“This tool will not only provide value to our association members but will also give our corporate customers further confidence that rates being provided for such meetings are in line with the market.”
On launch the HBAA Benchmarking Tool will already be aggregating over 60,000 meetings to produce the average delegate rate results. The meetings are taking place, or have taken place, in more than 400 locations across the globe in venues ranging from conference and training centres to hotels and unusual venues. There are 25 opted in agents with 8 more in the pipeline, and all of these numbers will increase daily.
The Benchmarking Tool is accessible via the HBAA website and is only available to those who have contributed data.
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