In 2018, travelers in the U.S. spent more than $232 billion on lodging, according to the U.S. Travel Association. That includes 463 million business trips, 38% of which were meetings and events related. How much your hotel sees of that travel will have a lot to do with location, but there are ways to entice companies into partnering with your property – the most effective being local negotiated rates (LNR) or volume contracts.
These deals have benefits that go way beyond just putting heads in beds. Here are the top 3 reasons why you should prospect for new LNR contracts now before most organizations begin budget season.