The events business has changed, and planners are encountering new challenges in a new reality. Photo Credit: Facebook/IMEX
The varied landscape of the new business reality is evident across
the show floor according to delegates at IMEX America, currently taking
place at Mandalay Bay, Las Vegas.
On one side of the supply chain, Craig Jarrett from Royal Caribbean
International observed: “Both planners and suppliers are hugely busy
with event pipelines stretching up to six years ahead. We’ve met buyers
today to finalise events in 2028.”
Confirming the upswing in business, Brad Dean, CEO Discover Puerto
Rico said: “First thing this morning, one of our partners booked a
substantial piece of business.”
At a morning press conference, the theme of business regeneration
continued when Jamaica Tourist Board shared good news. Since reopening
in June 2020 it has earned US$5.7 billion as a destination and welcomed
over 5 million visitors.
“The announcement follows the destination’s strong tourism recovery
efforts that resulted in our best summer ever.” said Donovan White,
director of tourism, Jamaica Tourist Board.
On the other side, some of the 200+ education sessions explored the
challenges planners are currently facing. In Venue contracts for today’s
unruly environment, Tyra Warner, Chair of the Dept. of Hospitality
Tourism and Culinary Arts, College of Coastal Georgia, opened by
declaring the ‘old rules are out of the window’.
“We’re in the relationship business and traditionally contract
negotiations reflected that. Increasingly, however, there’s less
collaboration or room for negotiation. Many of you are not getting the
outcomes you want from your conversations with suppliers and that’s why
you’re here.” With many in the audience agreeing that it is currently a
seller’s market, Tyra shared her advice: “In a negotiation, the name of
the game – for both parties – is to minimise risk. Figure out what your
event’s strengths are and trade on those.”
Courtney Lohmann and Lynn Wirch shared tactics on how a diverse
approach to the supply chain can create a bigger impact. “The RFP is our
best friend and worst enemy at the same time! However, we now have more
scope to add in specifics around our Diversity, Equity and Inclusion
(DEI) goals and objectives, and use those to engage with suppliers to
better understand their business model and what they can bring to an
event,” explained Lohmann.
As part of the session Creating impact with a diversified supply
chain, Lynn Wirch discussed the many business benefits of DEI including
employee recruitment and retention: “A new colleague told me that if
they’d known the extent to which we make DEI a priority, they wouldn’t
have applied anywhere else.”
Alongside the IMEX EIC People and Planet Village’s workshops,
community activities and case studies is the Planet Plenty Juice Bar
sponsored by World Wildlife Fund (WWF). WWF is expanding its Hotel
Kitchen program, which was first set up to address food waste in the
hospitality industry. With eyes on extending its reach into the meetings
and events sector, the program chose IMEX America as its launch
platform.
Source: M&IT